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Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 86.50 Td (As of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 69.05 86.50 Td (February24, 2017) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 127.93 86.50 Td (, there were outstanding 135,527,821 ordinary shares, nominal value $0.000304635 per share, of the Registrant.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 214.30 73.90 Td (DOCUMENTS INCORPORA) Tj ET Q q 0 0 0 rg BT 317.04 73.90 Td (TED BY) Tj ET Q q 0 0 0 rg BT 346.31 73.90 Td ( REFERENCE) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 61.30 Td (Portions of PartIII will be incorporated by reference in accordance with Instruction G\(3\) to Form 10-K no later than 120 days after the end of the Company) Tj ET Q q 0 0 0 rg BT 550.46 61.30 Td (s ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 50.50 Td (fiscal year) Tj ET Q q 0 0 0 rg BT 82.15 50.50 Td (.) 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Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 62 594.9333984375 m 87.8251953125 594.9333984375 l s q 0 0 1 rg BT 62.00 596.27 Td (Item 1) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 112 594.9333984375 m 147.5615234375 594.9333984375 l s q 0 0 1 rg BT 112.00 596.27 Td (Business) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 62 579.9333984375 m 94.77099609375 579.9333984375 l s q 0 0 1 rg BT 62.00 581.27 Td (Item 1A) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 112 579.9333984375 m 162.2783203125 579.9333984375 l s q 0 0 1 rg BT 112.00 581.27 Td (Risk Factors) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 62 564.9333984375 m 94.4951171875 564.9333984375 l s q 0 0 1 rg BT 62.00 566.27 Td (Item 1B) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 112 564.9333984375 m 225.69140625 564.9333984375 l s q 0 0 1 rg BT 112.00 566.27 Td (Unresolved Staf) Tj ET Q q 0 0 1 rg BT 176.53 566.27 Td (f Comments) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 62 549.9333984375 m 87.8251953125 549.9333984375 l s q 0 0 1 rg BT 62.00 551.27 Td (Item 2) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 112 549.9333984375 m 152.546875 549.9333984375 l s q 0 0 1 rg BT 112.00 551.27 Td (Properties) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 62 534.9333984375 m 87.8251953125 534.9333984375 l s q 0 0 1 rg BT 62.00 536.27 Td (Item 3) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 112 534.9333984375 m 186.140625 534.9333984375 l s q 0 0 1 rg BT 112.00 536.27 Td (Legal Proceedings) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 62 519.9333984375 m 87.8251953125 519.9333984375 l s q 0 0 1 rg BT 62.00 521.27 Td (Item 4) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 112 519.9333984375 m 210.3154296875 519.9333984375 l s q 0 0 1 rg BT 112.00 521.27 Td (Mine Safety Disclosures) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 53 489.86259765625005 m 91.73046875 489.86259765625005 l s q 0 0 1 rg BT 53.00 491.43 Td (P) Tj ET Q q 0 0 1 rg BT 58.37 491.43 Td (AR) Tj ET Q q 0 0 1 rg BT 72.46 491.43 Td (T) Tj ET Q q 0 0 1 rg BT 78.95 491.43 Td ( II.) Tj ET Q BT /F2 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 62 474.93339843750005 m 87.8251953125 474.93339843750005 l s q 0 0 1 rg BT 62.00 476.27 Td (Item 5) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 112 474.93339843750005 m 521.2724609375 474.93339843750005 l s q 0 0 1 rg BT 112.00 476.27 Td (Market for Registrant) Tj ET Q q 0 0 1 rg BT 201.42 476.27 Td (s Common Equity) Tj ET Q q 0 0 1 rg BT 273.55 476.27 Td (, Related Stockholder Matters and Issuer Purchases of Equity ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 112 464.93339843750005 m 151.43359375 464.93339843750005 l s q 0 0 1 rg BT 112.00 466.27 Td (Securities) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 62 449.93339843750005 m 87.8251953125 449.93339843750005 l s q 0 0 1 rg BT 62.00 451.27 Td (Item 6) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 112 449.93339843750005 m 262.234375 449.93339843750005 l s q 0 0 1 rg BT 112.00 451.27 Td (Selected Consolidated Financial Data) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 62 434.93339843750005 m 87.8251953125 434.93339843750005 l s q 0 0 1 rg BT 62.00 436.27 Td (Item 7) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 112 434.93339843750005 m 470.291015625 434.93339843750005 l s q 0 0 1 rg BT 112.00 436.27 Td (Management) Tj ET Q q 0 0 1 rg BT 166.98 436.27 Td (s Discussion and ) Tj ET Q q 0 0 1 rg BT 236.15 436.27 Td (Analysis of Financial Condition and Results of Operations) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 62 419.93339843750005 m 94.77099609375 419.93339843750005 l s q 0 0 1 rg BT 62.00 421.27 Td (Item 7A) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 112 419.93339843750005 m 353.62109375 419.93339843750005 l s q 0 0 1 rg BT 112.00 421.27 Td (Quantitative and Qualitative Disclosures ) Tj ET Q q 0 0 1 rg BT 276.40 421.27 Td (About Market Risk) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 62 404.93339843750005 m 87.8251953125 404.93339843750005 l s q 0 0 1 rg BT 62.00 406.27 Td (Item 8) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 112 404.93339843750005 m 296.951171875 404.93339843750005 l s q 0 0 1 rg BT 112.00 406.27 Td (Financial Statements and Supplementary Data) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 62 389.93339843750005 m 87.8251953125 389.93339843750005 l s q 0 0 1 rg BT 62.00 391.27 Td (Item 9) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 112 389.93339843750005 m 470.8134765625 389.93339843750005 l s q 0 0 1 rg BT 112.00 391.27 Td (Changes in and Disagreements with ) Tj ET Q q 0 0 1 rg BT 257.81 391.27 Td (Accountants on ) Tj ET Q q 0 0 1 rg BT 322.24 391.27 Td (Accounting and Financial Disclosure) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 62 374.93339843750005 m 94.77099609375 374.93339843750005 l s q 0 0 1 rg BT 62.00 376.27 Td (Item 9A) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 112 374.93339843750005 m 210.3154296875 374.93339843750005 l s q 0 0 1 rg BT 112.00 376.27 Td (Controls and Procedures) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 62 359.93339843750005 m 94.4951171875 359.93339843750005 l s q 0 0 1 rg BT 62.00 361.27 Td (Item 9B) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 112 359.93339843750005 m 185.0322265625 359.93339843750005 l s q 0 0 1 rg BT 112.00 361.27 Td (Other Information) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 53 329.86259765625005 m 95.6220703125 329.86259765625005 l s q 0 0 1 rg BT 53.00 331.43 Td (P) Tj ET Q q 0 0 1 rg BT 58.37 331.43 Td (AR) Tj ET Q q 0 0 1 rg BT 72.46 331.43 Td (T) Tj ET Q q 0 0 1 rg BT 78.95 331.43 Td ( III.) Tj ET Q BT /F2 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 62 314.93339843750005 m 92.8251953125 314.93339843750005 l s q 0 0 1 rg BT 62.00 316.27 Td (Item 10) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 112 314.93339843750005 m 339.4951171875 314.93339843750005 l s q 0 0 1 rg BT 112.00 316.27 Td (Directors, Executive Of) Tj ET Q q 0 0 1 rg BT 207.06 316.27 Td (ficers and Corporate Governance) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 62 299.93339843750005 m 92.4541015625 299.93339843750005 l s q 0 0 1 rg BT 62.00 301.27 Td (Item 1) Tj ET Q q 0 0 1 rg BT 87.45 301.27 Td (1) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 112 299.93339843750005 m 212.25390625 299.93339843750005 l s q 0 0 1 rg BT 112.00 301.27 Td (Executive Compensation) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 62 284.93339843750005 m 92.8251953125 284.93339843750005 l s q 0 0 1 rg BT 62.00 286.27 Td (Item 12) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 112 284.93339843750005 m 517.15625 284.93339843750005 l s q 0 0 1 rg BT 112.00 286.27 Td (Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 62 269.93339843750005 m 92.8251953125 269.93339843750005 l s q 0 0 1 rg BT 62.00 271.27 Td (Item 13) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 112 269.93339843750005 m 414.6953125 269.93339843750005 l s q 0 0 1 rg BT 112.00 271.27 Td (Certain Relationships and Related ) Tj ET Q q 0 0 1 rg BT 250.68 271.27 Td (T) Tj ET Q q 0 0 1 rg BT 256.43 271.27 Td (ransactions, and Director Independence) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 62 254.93339843750005 m 92.8251953125 254.93339843750005 l s q 0 0 1 rg BT 62.00 256.27 Td (Item 14) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 112 254.93339843750005 m 270.291015625 254.93339843750005 l s q 0 0 1 rg BT 112.00 256.27 Td (Principal ) Tj ET Q q 0 0 1 rg BT 150.05 256.27 Td (Accountant Fees and Services) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 53 224.86259765625005 m 93.771484375 224.86259765625005 l s q 0 0 1 rg BT 53.00 226.43 Td (P) Tj ET Q q 0 0 1 rg BT 58.37 226.43 Td (AR) Tj ET Q q 0 0 1 rg BT 72.46 226.43 Td (T) Tj ET Q q 0 0 1 rg BT 78.95 226.43 Td ( IV) Tj ET Q q 0 0 1 rg BT 91.27 226.43 Td (.) Tj ET Q BT /F2 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 62 209.93339843750005 m 92.8251953125 209.93339843750005 l s q 0 0 1 rg BT 62.00 211.27 Td (Item 15) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 112 209.93339843750005 m 287.5224609375 209.93339843750005 l s q 0 0 1 rg BT 112.00 211.27 Td (Exhibits and Financial Statement Schedules) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 62 194.93339843750005 m 92.8251953125 194.93339843750005 l s q 0 0 1 rg BT 62.00 196.27 Td (Item 16) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 112 194.93339843750005 m 198.1083984375 194.93339843750005 l s q 0 0 1 rg BT 112.00 196.27 Td (Form 10-K Summary) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 53 164.93339843750005 m 95.216796875 164.93339843750005 l s q 0 0 1 rg BT 53.00 166.27 Td (Signatures) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 542.5 654.0333984375001 m 547.5 654.0333984375001 l s q 0 0 1 rg BT 542.50 655.37 Td (3) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 542.5 639.0333984375001 m 547.5 639.0333984375001 l s q 0 0 1 rg BT 542.50 640.37 Td (4) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 542.5 594.0333984375001 m 547.5 594.0333984375001 l s q 0 0 1 rg BT 542.50 595.37 Td (5) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 540 579.0333984375001 m 550 579.0333984375001 l s q 0 0 1 rg BT 540.00 580.37 Td (16) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 540 564.0333984375001 m 550 564.0333984375001 l s q 0 0 1 rg BT 540.00 565.37 Td (30) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 540 549.0333984375001 m 550 549.0333984375001 l s q 0 0 1 rg BT 540.00 550.37 Td (30) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 540 534.0333984375001 m 550 534.0333984375001 l s q 0 0 1 rg BT 540.00 535.37 Td (31) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 540 519.0333984375001 m 550 519.0333984375001 l s q 0 0 1 rg BT 540.00 520.37 Td (31) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 540 474.93339843750005 m 550 474.93339843750005 l s q 0 0 1 rg BT 540.00 476.27 Td (31) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 540 449.03339843750007 m 550 449.03339843750007 l s q 0 0 1 rg BT 540.00 450.37 Td (36) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 540 434.03339843750007 m 550 434.03339843750007 l s q 0 0 1 rg BT 540.00 435.37 Td (37) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 540 419.03339843750007 m 550 419.03339843750007 l s q 0 0 1 rg BT 540.00 420.37 Td (69) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 540 404.03339843750007 m 550 404.03339843750007 l s q 0 0 1 rg BT 540.00 405.37 Td (73) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 537.5 389.03339843750007 m 552.5 389.03339843750007 l s q 0 0 1 rg BT 537.50 390.37 Td (174) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 537.5 374.03339843750007 m 552.5 374.03339843750007 l s q 0 0 1 rg BT 537.50 375.37 Td (174) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 537.5 359.03339843750007 m 552.5 359.03339843750007 l s q 0 0 1 rg BT 537.50 360.37 Td (176) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 537.5 314.03339843750007 m 552.5 314.03339843750007 l s q 0 0 1 rg BT 537.50 315.37 Td (177) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 537.5 299.03339843750007 m 552.5 299.03339843750007 l s q 0 0 1 rg BT 537.50 300.37 Td (177) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 537.5 284.03339843750007 m 552.5 284.03339843750007 l s q 0 0 1 rg BT 537.50 285.37 Td (177) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 537.5 269.03339843750007 m 552.5 269.03339843750007 l s q 0 0 1 rg BT 537.50 270.37 Td (177) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 537.5 254.03339843750007 m 552.5 254.03339843750007 l s q 0 0 1 rg BT 537.50 255.37 Td (177) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 537.5 209.03339843750007 m 552.5 209.03339843750007 l s q 0 0 1 rg BT 537.50 210.37 Td (178) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 537.5 194.03339843750007 m 552.5 194.03339843750007 l s q 0 0 1 rg BT 537.50 195.37 Td (185) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 537.5 164.03339843750007 m 552.5 164.03339843750007 l s q 0 0 1 rg BT 537.50 165.37 Td (186) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 7 0 obj <> endobj 8 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 31.60 Td (3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (Certain Definitions) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 131.94 742.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 721.25 Td (The following definitions apply throughout this annual report unless the context requires otherwise:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.80 721.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 692.32 Td (We, Us, Company, Willis Towers) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 682.32 Td (Watson, Our, WillisTowers Watson) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 672.32 Td (plc or WTW) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 227.00 692.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 241.00 692.32 Td (Willis Towers Watson Public Limited Company, a company) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 241.00 682.32 Td (organized under the laws of Ireland, and its subsidiaries) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 653.32 Td (shares) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 227.00 653.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 241.00 653.32 Td (The ordinary shares of Willis Towers Watson Public Limited) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 241.00 643.32 Td (Company, nominal value $0.000304635 per share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 624.32 Td (Legacy Willis or Willis) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 241.00 624.32 Td (Willis Group Holdings Public Limited Company and its) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 241.00 614.32 Td (subsidiaries, predecessor to Willis Towers Watson, prior to the) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 241.00 604.32 Td (Merger) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 585.32 Td (Legacy Towers Watson or Towers) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 575.32 Td (Watson) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 241.00 585.32 Td (Towers Watson & Co. and its subsidiaries) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 556.32 Td (Merger) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 241.00 556.32 Td (Merger of Willis Group Holdings Public Limited Company and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 241.00 546.32 Td (Towers Watson & Co. pursuant to the Agreement and Plan of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 241.00 536.32 Td (Merger, dated June 29, 2015, as amended on November 19, 2015,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 241.00 526.32 Td (and completed on January 4, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 507.32 Td (Gras Savoye) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 241.00 507.32 Td (GS & Cie Groupe SAS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 488.32 Td (Miller) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 241.00 488.32 Td (Miller Insurance Services LLP and its subsidiaries) Tj ET Q BT /F1 10.00 Tf ET 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 (4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (Disclaimer) Tj ET Q q 0 0 0 rg BT 95.91 742.25 Td ( Regarding Forward-looking Statements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 721.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 721.25 Td (e have included in this document forward-looking statements) Tj ET Q q 0 0 0 rg BT 309.21 721.25 Td ( within the meaning of Section27A) Tj ET Q q 0 0 0 rg BT 451.42 721.25 Td ( of the Securities ) Tj ET Q q 0 0 0 rg BT 520.84 721.25 Td (Act of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 709.25 Td (1933, and Section21E of the Securities Exchange ) Tj ET Q q 0 0 0 rg BT 251.89 709.25 Td (Act of 1934, which are intended to be covered by the safe harbors created by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 697.25 Td (those laws. ) Tj ET Q q 0 0 0 rg BT 96.76 697.25 Td (These forward-looking statements include information about possible or assumed future results of our operations. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 685.25 Td (All statements, other than statements of historical facts, that address activities, events or developments that we expect or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 673.25 Td (anticipate may occur in the future, including such things as our outlook, future capital expenditures, future share repurchases, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 661.25 Td (growth in commissions and fees, business strategies and planned acquisitions, competitive strengths, goals, the benefits of new ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 649.25 Td (initiatives, growth of our business and operations, plans and references to future successes, and the benefits of the Mer) Tj ET Q q 0 0 0 rg BT 523.85 649.25 Td (ger) Tj ET Q q 0 0 0 rg BT 536.22 649.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 637.25 Td (including future financial and operating results, plans, objectives, expectations and intentions are forward-looking statements. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 625.25 Td (Also, when we use words such as may, will, would, anticipate, believe, estimate, expect, intend, plan, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 613.25 Td (probably, or similar expressions, we are making forward-looking statements. Such statements are based upon the current ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 601.25 Td (beliefs and expectations of the Company) Tj ET Q q 0 0 0 rg BT 215.79 601.25 Td (s management and are subject to significant risks and uncertainties. ) Tj ET Q q 0 0 0 rg BT 487.09 601.25 Td (Actual results ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 589.25 Td (may dif) Tj ET Q q 0 0 0 rg BT 80.64 589.25 Td (fer from those set forth in the forward-looking statements. ) Tj ET Q q 0 0 0 rg BT 317.53 589.25 Td (All forward-looking disclosure is speculative by its nature.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.48 589.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 568.25 Td (A) Tj ET Q q 0 0 0 rg BT 56.67 568.25 Td ( number of risks and uncertainties that could cause actual results to dif) Tj ET Q q 0 0 0 rg BT 338.07 568.25 Td (fer materially from the results reflected in these ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 556.25 Td (forward-looking statements are identified under Risk Factors in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.60 556.25 Td (Item1A) Tj ET Q q 0 0 0 rg BT 339.10 556.25 Td ( of this ) Tj ET Q q 0 0 0 rg BT 368.82 556.25 Td (Annual Report on Form 10-K. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.52 556.25 Td (These statements ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 544.25 Td (are based on assumptions that may not come true and are subject to significant risks and uncertainties.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.50 544.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 523.25 Td (Although we believe that the assumptions underlying our forward-looking statements are reasonable, any of these assumptions, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 511.25 Td (and therefore also the forward-looking statements based on these assumptions, could themselves prove to be inaccurate. In light ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 499.25 Td (of the significant uncertainties inherent in the forward-looking statements included in this ) Tj ET Q q 0 0 0 rg BT 410.46 499.25 Td (Annual Report on Form 10-K, our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 487.25 Td (inclusion of this information is not a representation or guarantee by us that our objectives and plans will be achieved. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.71 487.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.25 Td (Our forward-looking statements speak only as of the date made and we will not update these forward-looking statements unless ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.25 Td (the securities laws require us to do so. In light of these risks, uncertainties and assumptions, the forward-looking events ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.25 Td (discussed in this document may not occur) Tj ET Q q 0 0 0 rg BT 216.79 442.25 Td (, and we caution you against unduly relying on these forward-looking statements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.55 442.25 Td ( ) Tj ET Q endstream endobj 11 0 obj <> endobj 12 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 31.60 Td (5) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 50.00 741.60 Td (P) Tj ET Q q 0 0 0 rg BT 55.90 741.60 Td (AR) Tj ET Q q 0 0 0 rg BT 71.40 741.60 Td (T) Tj ET Q q 0 0 0 rg BT 78.54 741.60 Td ( I.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 720.55 Td (ITEM 1. BUSINESS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 701.55 Td (The Company) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.55 Td (W) Tj ET Q q 0 0 0 rg BT 59.04 682.55 Td (illis ) Tj ET Q q 0 0 0 rg BT 76.36 682.55 Td (T) Tj ET Q q 0 0 0 rg BT 81.77 682.55 Td (owers ) Tj ET Q q 0 0 0 rg BT 107.97 682.55 Td (W) Tj ET Q q 0 0 0 rg BT 116.61 682.55 Td (atson was formed upon completion of the Mer) Tj ET Q q 0 0 0 rg BT 301.67 682.55 Td (ger on January 4, 2016, pursuant to the ) Tj ET Q q 0 0 0 rg BT 459.41 682.55 Td (Agreement and Plan of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.55 Td (Mer) Tj ET Q q 0 0 0 rg BT 66.48 670.55 Td (ger dated June 29, 2015, as amended on November 19, 2015 \(the Mer) Tj ET Q q 0 0 0 rg BT 348.72 670.55 Td (ger ) Tj ET Q q 0 0 0 rg BT 363.44 670.55 Td (Agreement\), between Legacy ) Tj ET Q q 0 0 0 rg BT 487.08 670.55 Td (W) Tj ET Q q 0 0 0 rg BT 496.12 670.55 Td (illis, Legacy ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.55 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 658.55 Td (owers ) Tj ET Q q 0 0 0 rg BT 81.61 658.55 Td (W) Tj ET Q q 0 0 0 rg BT 90.25 658.55 Td (atson, and Citadel Mer) Tj ET Q q 0 0 0 rg BT 181.16 658.55 Td (ger Sub, Inc., a wholly-owned subsidiary of ) Tj ET Q q 0 0 0 rg BT 358.72 658.55 Td (W) Tj ET Q q 0 0 0 rg BT 367.76 658.55 Td (illis formed for the purpose of facilitating this ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.55 Td (transaction \(Mer) Tj ET Q q 0 0 0 rg BT 119.51 646.55 Td (ger Sub\). Pursuant to the Mer) Tj ET Q q 0 0 0 rg BT 240.98 646.55 Td (ger ) Tj ET Q q 0 0 0 rg BT 255.69 646.55 Td (Agreement, Mer) Tj ET Q q 0 0 0 rg BT 321.60 646.55 Td (ger Sub mer) Tj ET Q q 0 0 0 rg BT 370.29 646.55 Td (ged with and into ) Tj ET Q q 0 0 0 rg BT 442.32 646.55 Td (T) Tj ET Q q 0 0 0 rg BT 447.73 646.55 Td (owers ) Tj ET Q q 0 0 0 rg BT 473.94 646.55 Td (W) Tj ET Q q 0 0 0 rg BT 482.57 646.55 Td (atson with ) Tj ET Q q 0 0 0 rg BT 526.28 646.55 Td (T) Tj ET Q q 0 0 0 rg BT 531.69 646.55 Td (owers ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.55 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 634.55 Td (atson continuing as the surviving corporation and a wholly-owned subsidiary of ) Tj ET Q q 0 0 0 rg BT 380.34 634.55 Td (W) Tj ET Q q 0 0 0 rg BT 389.38 634.55 Td (illis.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.88 634.55 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 613.55 Td (Immediately following the Mer) Tj ET Q q 0 0 0 rg BT 175.62 613.55 Td (ger) Tj ET Q q 0 0 0 rg BT 187.99 613.55 Td (, Legacy ) Tj ET Q q 0 0 0 rg BT 224.73 613.55 Td (W) Tj ET Q q 0 0 0 rg BT 233.77 613.55 Td (illis ef) Tj ET Q q 0 0 0 rg BT 258.86 613.55 Td (fected \(i\) a consolidation \(i.e., a reverse stock split under Irish law\) of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 601.55 Td (W) Tj ET Q q 0 0 0 rg BT 59.04 601.55 Td (illis ordinary shares whereby every 2.6490 Legacy ) Tj ET Q q 0 0 0 rg BT 263.79 601.55 Td (W) Tj ET Q q 0 0 0 rg BT 272.83 601.55 Td (illis ordinary shares were consolidated into one ) Tj ET Q q 0 0 0 rg BT 463.98 601.55 Td (W) Tj ET Q q 0 0 0 rg BT 473.02 601.55 Td (illis ) Tj ET Q q 0 0 0 rg BT 490.35 601.55 Td (T) Tj ET Q q 0 0 0 rg BT 495.76 601.55 Td (owers ) Tj ET Q q 0 0 0 rg BT 521.96 601.55 Td (W) Tj ET Q q 0 0 0 rg BT 530.60 601.55 Td (atson ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 589.55 Td (ordinary share \(the Consolidation\) and \(ii\) an amendment to its Constitution and other or) Tj ET Q q 0 0 0 rg BT 411.68 589.55 Td (ganizational documents to change its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 577.55 Td (name from ) Tj ET Q q 0 0 0 rg BT 95.91 577.55 Td (W) Tj ET Q q 0 0 0 rg BT 104.95 577.55 Td (illis Group Holdings Public Limited Company to ) Tj ET Q q 0 0 0 rg BT 303.38 577.55 Td (W) Tj ET Q q 0 0 0 rg BT 312.42 577.55 Td (illis ) Tj ET Q q 0 0 0 rg BT 329.74 577.55 Td (T) Tj ET Q q 0 0 0 rg BT 335.15 577.55 Td (owers ) Tj ET Q q 0 0 0 rg BT 361.35 577.55 Td (W) Tj ET Q q 0 0 0 rg BT 369.99 577.55 Td (atson Public Limited Company) Tj ET Q q 0 0 0 rg BT 494.05 577.55 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.55 577.55 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 556.55 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 556.55 Td (e trace our history to 1828, and are a leading global advisory) Tj ET Q q 0 0 0 rg BT 300.69 556.55 Td (, broking and solutions company that helps clients around the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 544.55 Td (world turn risk into a path for growth.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 523.55 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 523.55 Td (e continue to integrate ) Tj ET Q q 0 0 0 rg BT 150.09 523.55 Td (W) Tj ET Q q 0 0 0 rg BT 159.13 523.55 Td (illis and ) Tj ET Q q 0 0 0 rg BT 193.39 523.55 Td (T) Tj ET Q q 0 0 0 rg BT 198.80 523.55 Td (owers ) Tj ET Q q 0 0 0 rg BT 225.00 523.55 Td (W) Tj ET Q q 0 0 0 rg BT 233.64 523.55 Td (atson while creating a unified platform for global growth, including positioning ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 511.55 Td (the Company to leverage our mutual distribution strength to enhance market penetration, expand our global footprint and create ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 499.55 Td (a strong platform for further innovation. ) Tj ET Q q 0 0 0 rg BT 212.83 499.55 Td (The fully integrated Company will have a more comprehensive of) Tj ET Q q 0 0 0 rg BT 476.73 499.55 Td (fering of services ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 487.55 Td (and solutions to provide to clients across four business segments: Human Capital and Benefits; Corporate Risk and Broking; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 475.55 Td (Investment, Risk and Reinsurance; and Exchange Solutions.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.06 475.55 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 456.55 Td (Our clients operate on a global and local scale in a multitude of businesses and industries throughout the world and generally ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 444.55 Td (range in size from lar) Tj ET Q q 0 0 0 rg BT 135.34 444.55 Td (ge, major multinational corporations to middle-market domestic and international companies. Our clients ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 432.55 Td (include many of the world) Tj ET Q q 0 0 0 rg BT 158.31 432.55 Td (s leading corporations, including approximately 88% of the Fortune Global500 companies and 85% ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 420.55 Td (of the Fortune1000. ) Tj ET Q q 0 0 0 rg BT 133.97 420.55 Td (W) Tj ET Q q 0 0 0 rg BT 142.61 420.55 Td (e also advise more than three-quarters of the world) Tj ET Q q 0 0 0 rg BT 348.65 420.55 Td (s leading insurance companies. ) Tj ET Q q 0 0 0 rg BT 475.37 420.55 Td (W) Tj ET Q q 0 0 0 rg BT 484.01 420.55 Td (e work with major ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 408.55 Td (corporations, emer) Tj ET Q q 0 0 0 rg BT 124.79 408.55 Td (ging growth companies, governmental agencies and not-for) Tj ET Q q 0 0 0 rg BT 362.57 408.55 Td (-profit institutions in a wide variety of industries, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 396.55 Td (with many of our client relationships spanning decades. No one client accounted for a significant concentration of revenues in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 384.55 Td (each of the years ended December 31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 204.92 384.55 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.92 384.55 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 229.92 384.55 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.92 384.55 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.36 384.55 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.36 384.55 Td (. ) Tj ET Q q 0 0 0 rg BT 294.18 384.55 Td (W) Tj ET Q q 0 0 0 rg BT 302.82 384.55 Td (e place insurance with approximately 2,500 insurance carriers, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 372.55 Td (none of which individually accounted for a significant concentration of the total premiums we placed on behalf of our clients in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 360.55 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 360.55 Td (, 2015 or 2014.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 130.83 360.55 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 341.55 Td (A) Tj ET Q q 0 0 0 rg BT 56.48 341.55 Td (vailable Information) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.55 Td (The Company files annual, quarterly and current reports, proxy statements and other information with the Securities and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.55 Td (Exchange Commission \(the SEC\). ) Tj ET Q q 0 0 0 rg BT 196.00 310.55 Td (Y) Tj ET Q q 0 0 0 rg BT 202.22 310.55 Td (ou may read and copy any documents we file at the SEC) Tj ET Q q 0 0 0 rg BT 431.32 310.55 Td (s Public Reference Room at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.55 Td (100FStreet, NE ) Tj ET Q q 0 0 0 rg BT 119.54 298.55 Td (W) Tj ET Q q 0 0 0 rg BT 128.17 298.55 Td (ashington, DC 20549. Call the SEC at 1-800-SEC-0330 for information on the Public Reference Room. ) Tj ET Q q 0 0 0 rg BT 545.16 298.55 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.55 Td (SEC maintains a website that contains annual, quarterly and current reports, proxy statements and other information that issuers ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.55 Td (\(including ) Tj ET Q q 0 0 0 rg BT 93.42 274.55 Td (W) Tj ET Q q 0 0 0 rg BT 102.46 274.55 Td (illis ) Tj ET Q q 0 0 0 rg BT 119.79 274.55 Td (T) Tj ET Q q 0 0 0 rg BT 125.20 274.55 Td (owers ) Tj ET Q q 0 0 0 rg BT 151.40 274.55 Td (W) Tj ET Q q 0 0 0 rg BT 160.03 274.55 Td (atson\) file electronically with the SEC. ) Tj ET Q q 0 0 0 rg BT 317.87 274.55 Td (The SEC) Tj ET Q q 0 0 0 rg BT 357.03 274.55 Td (s website is www) Tj ET Q q 0 0 0 rg BT 426.66 274.55 Td (.sec.gov) Tj ET Q q 0 0 0 rg BT 458.77 274.55 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 255.55 Td (The Company makes available, free of char) Tj ET Q q 0 0 0 rg BT 224.46 255.55 Td (ge through our website, www) Tj ET Q q 0 0 0 rg BT 342.40 255.55 Td (.willistowerswatson.com, our ) Tj ET Q q 0 0 0 rg BT 462.11 255.55 Td (Annual Report on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 243.55 Td (Form10-K, our quarterly reports on Form10-Q, our proxy statement, current reports on Form8-K and Forms3, 4, and 5 filed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 231.55 Td (on behalf of directors and executive of) Tj ET Q q 0 0 0 rg BT 204.20 231.55 Td (ficers, as well as any amendments to those reports filed or furnished pursuant to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 219.55 Td (Securities Exchange ) Tj ET Q q 0 0 0 rg BT 133.31 219.55 Td (Act of 1934 \(the Exchange ) Tj ET Q q 0 0 0 rg BT 246.32 219.55 Td (Act\) as soon as reasonably practicable after such material is electronically ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 207.55 Td (filed with, or furnished to, the SEC. Unless specifically incorporated by reference, information on our website is not a part of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 195.55 Td (this Form10-K.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 176.55 Td (The Company) Tj ET Q q 0 0 0 rg BT 109.71 176.55 Td (s Corporate Governance Guidelines, ) Tj ET Q q 0 0 0 rg BT 257.17 176.55 Td (Audit & Risk Committee Charter) Tj ET Q q 0 0 0 rg BT 390.09 176.55 Td (, Compensation Committee Charter) Tj ET Q q 0 0 0 rg BT 531.88 176.55 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 164.55 Td (Nominating & Governance Committee Charter are available on our website, www) Tj ET Q q 0 0 0 rg BT 378.97 164.55 Td (.willistowerswatson.com, in the Investor ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 152.55 Td (Relations section, or upon request. Requests for copies of these documents should be directed in writing to the Company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 140.55 Td (Secretary c/oOf) Tj ET Q q 0 0 0 rg BT 115.34 140.55 Td (fice of General Counsel, ) Tj ET Q q 0 0 0 rg BT 215.40 140.55 Td (W) Tj ET Q q 0 0 0 rg BT 224.44 140.55 Td (illis ) Tj ET Q q 0 0 0 rg BT 241.76 140.55 Td (T) Tj ET Q q 0 0 0 rg BT 247.17 140.55 Td (owers ) Tj ET Q q 0 0 0 rg BT 273.37 140.55 Td (W) Tj ET Q q 0 0 0 rg BT 282.01 140.55 Td (atson Public Limited Company) Tj ET Q q 0 0 0 rg BT 406.07 140.55 Td (, Brookfield Place, 200 Liberty Street, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 128.55 Td (New ) Tj ET Q q 0 0 0 rg BT 71.01 128.55 Td (Y) Tj ET Q q 0 0 0 rg BT 77.23 128.55 Td (ork, NY) Tj ET Q q 0 0 0 rg BT 109.63 128.55 Td ( 10281.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 109.55 Td (General Information) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 88.55 Td (W) Tj ET Q q 0 0 0 rg BT 59.04 88.55 Td (illis ) Tj ET Q q 0 0 0 rg BT 76.36 88.55 Td (T) Tj ET Q q 0 0 0 rg BT 81.77 88.55 Td (owers ) Tj ET Q q 0 0 0 rg BT 107.97 88.55 Td (W) Tj ET Q q 0 0 0 rg BT 116.61 88.55 Td (atson is a leading global advisory) Tj ET Q q 0 0 0 rg BT 249.55 88.55 Td (, broking and solutions company that helps clients around the world turn risk ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 76.55 Td (into a path for growth. ) Tj ET Q q 0 0 0 rg BT 142.02 76.55 Td (W) Tj ET Q q 0 0 0 rg BT 151.06 76.55 Td (illis ) Tj ET Q q 0 0 0 rg BT 168.38 76.55 Td (T) Tj ET Q q 0 0 0 rg BT 173.79 76.55 Td (owers ) Tj ET Q q 0 0 0 rg BT 200.00 76.55 Td (W) Tj ET Q q 0 0 0 rg BT 208.63 76.55 Td (atson has more than 41,000 employees and services clients in more than 140 countries ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 64.55 Td (and territories. ) Tj ET Q q 0 0 0 rg BT 110.63 64.55 Td (W) Tj ET Q q 0 0 0 rg BT 119.27 64.55 Td (e design and deliver solutions that manage risk, optimize benefits, cultivate talent, and expand the power of ) Tj ET Q endstream endobj 13 0 obj <> endobj 14 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 31.60 Td (6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (capital to protect and strengthen institutions and individuals. Our unique perspective allows us to see the critical intersections ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (between talent, assets and ideas - the dynamic formula that drives business performance.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.33 730.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 709.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 709.10 Td (e of) Tj ET Q q 0 0 0 rg BT 73.73 709.10 Td (fer clients a broad range of services to help them to identify and control their risks, and to enhance business performance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 697.10 Td (by improving their ability to attract, retain and engage a talented workforce. Our risk control services range from strategic risk ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 685.10 Td (consulting \(including providing actuarial analysis\), to a variety of due diligence services, to the provision of practical on-site ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 673.10 Td (risk control services \(such as health and safety or property loss control consulting\), as well as analytical and advisory services ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 661.10 Td (\(such as hazard modeling and reinsurance optimization studies\). ) Tj ET Q q 0 0 0 rg BT 308.91 661.10 Td (W) Tj ET Q q 0 0 0 rg BT 317.54 661.10 Td (e assist clients in planning how to manage incidents or crises ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 649.10 Td (when they occur) Tj ET Q q 0 0 0 rg BT 115.53 649.10 Td (. ) Tj ET Q q 0 0 0 rg BT 120.35 649.10 Td (These services include contingency planning, security audits and product tampering plans. ) Tj ET Q q 0 0 0 rg BT 484.23 649.10 Td (W) Tj ET Q q 0 0 0 rg BT 492.87 649.10 Td (e help our clients ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 637.10 Td (enhance their business performance by delivering consulting services, technology and solutions that help or) Tj ET Q q 0 0 0 rg BT 480.26 637.10 Td (ganizations ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 625.10 Td (anticipate, identify and capitalize on emer) Tj ET Q q 0 0 0 rg BT 217.52 625.10 Td (ging opportunities in human capital management as well as investment advice to help ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 613.10 Td (our clients develop disciplined and ef) Tj ET Q q 0 0 0 rg BT 199.50 613.10 Td (ficient strategies to meet their investment goals.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.83 613.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 592.10 Td (As an insurance broker) Tj ET Q q 0 0 0 rg BT 142.07 592.10 Td (, we act as an intermediary between our clients and insurance carriers by advising our clients on their ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 580.10 Td (risk management requirements, helping clients determine the best means of managing risk and negotiating and placing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 568.10 Td (insurance with insurance carriers through our global distribution network. ) Tj ET Q q 0 0 0 rg BT 347.52 568.10 Td (W) Tj ET Q q 0 0 0 rg BT 356.16 568.10 Td (e operate the lar) Tj ET Q q 0 0 0 rg BT 420.10 568.10 Td (gest private Medicare exchange in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 556.10 Td (the United States \(U.S.\). ) Tj ET Q q 0 0 0 rg BT 156.74 556.10 Td (Through this exchange and those for active employees, we help our clients move to a more ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 544.10 Td (sustainable economic model by capping and controlling the costs associated with healthcare benefits.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.60 544.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 523.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 523.10 Td (e are not an insurance company) Tj ET Q q 0 0 0 rg BT 184.32 523.10 Td (, and therefore we do not underwrite insurable risks for our own account.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.45 523.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 502.10 Td (e derive the majority of our revenues from either commissions or fees for brokerage or consulting services. ) Tj ET Q q 0 0 0 rg BT 488.87 502.10 Td (W) Tj ET Q q 0 0 0 rg BT 497.51 502.10 Td (e do not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td (determine the insurance premiums on which our commissions are generally based. Commission levels generally follow the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (same trend as premium levels as they are derived from a percentage of the premiums paid by the insureds. Fluctuations in these ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.10 Td (premiums char) Tj ET Q q 0 0 0 rg BT 109.52 466.10 Td (ged by the insurance carriers can therefore have a direct and potentially material impact on our results of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.10 Td (operations. Our fees for consulting services are spread across a variety of complementary businesses that generally remain ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (steady during times of uncertainty) Tj ET Q q 0 0 0 rg BT 185.98 442.10 Td (. ) Tj ET Q q 0 0 0 rg BT 190.80 442.10 Td (W) Tj ET Q q 0 0 0 rg BT 199.44 442.10 Td (e have some businesses, such as our health and benefits and administration businesses, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (which can be counter cyclical during the early period of a significant economic change. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 409.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 409.10 Td (e and our colleagues serve a diverse base of clients ranging in size from lar) Tj ET Q q 0 0 0 rg BT 358.34 409.10 Td (ge, major multinational corporations to middle-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 397.10 Td (market companies in a variety of industries, public institutions, and individual clients. Many of our client relationships span ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 385.10 Td (decades. ) Tj ET Q q 0 0 0 rg BT 86.46 385.10 Td (W) Tj ET Q q 0 0 0 rg BT 95.10 385.10 Td (e work with major corporations, emer) Tj ET Q q 0 0 0 rg BT 245.99 385.10 Td (ging growth companies, governmental agencies and not-for) Tj ET Q q 0 0 0 rg BT 483.77 385.10 Td (-profit institutions ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 373.10 Td (in a wide variety of industries.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 352.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 352.10 Td (e believe we are one of only a few global advisory) Tj ET Q q 0 0 0 rg BT 259.58 352.10 Td (, broking and solutions companies in the world possessing the global ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 340.10 Td (operating presence, broad product expertise and extensive distribution network necessary to meet ef) Tj ET Q q 0 0 0 rg BT 449.40 340.10 Td (fectively the global needs ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 328.10 Td (of many of our clients.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 307.10 Td (Below are our revenues and long-lived assets by legal entity for Ireland, our country of domicile, countries with significant ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 295.10 Td (concentrations, and all other foreign countries for each of the years ended December 31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.41 295.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.41 295.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.41 295.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.41 295.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.84 295.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.84 295.10 Td (:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 254.60 143.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 193.50 254.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 251.50 254.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 255.50 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498.5 148.60000000000002 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 560.5 150.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 148.60000000000002 m 560.5 148.60000000000002 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 263.20 274.28 Td (Revenues) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 425.35 274.28 Td (Long-Lived ) Tj ET Q q 0 0 0 rg BT 477.31 274.28 Td (Assets ) Tj ET Q BT /F2 10.00 Tf ET BT /F2 6.50 Tf ET q 0 0 0 rg BT 506.47 278.81 Td (\(i\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 258.85 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 212.00 259.28 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 273.50 259.28 Td (2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 335.00 259.28 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 397.00 259.28 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 459.00 259.28 Td (2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 521.00 259.28 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 245.17 Td (Ireland) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.00 244.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 237.65 244.27 Td (92) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.00 244.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.65 244.27 Td (64) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.00 244.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.65 244.27 Td (51) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.00 244.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.65 244.27 Td (114) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.00 244.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.65 244.27 Td (124) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 244.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.65 244.27 Td (121) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 215.17 Td (United States) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.15 214.27 Td (3,395) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.15 214.27 Td (1,597) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.15 214.27 Td (1,600) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.15 214.27 Td (11,400) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.15 214.27 Td (1,759) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.15 214.27 Td (1,800) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 200.17 Td (United Kingdom) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.15 199.27 Td (2,236) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.15 199.27 Td (1,055) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.15 199.27 Td (1,057) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.15 199.27 Td (2,431) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.15 199.27 Td (2,426) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.15 199.27 Td (1,666) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 185.17 Td (Rest of World) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.15 184.27 Td (2,164) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.15 184.27 Td (1,113) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.15 184.27 Td (1,094) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.15 184.27 Td (2,466) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.15 184.27 Td (1,951) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.65 184.27 Td (976) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 170.17 Td (Total Foreign Countries) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.15 169.27 Td (7,795) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.15 169.27 Td (3,765) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.15 169.27 Td (3,751) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.15 169.27 Td (16,297) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.15 169.27 Td (6,136) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.15 169.27 Td (4,442) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.00 154.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.15 154.27 Td (7,887) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.00 154.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.15 154.27 Td (3,829) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.00 154.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.15 154.27 Td (3,802) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.00 154.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.15 154.27 Td (16,411) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.00 154.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.15 154.27 Td (6,260) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 154.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.15 154.27 Td (4,563) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 135.10 Td (____________________) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 68.00 122.50 Td (\(i\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 122.50 Td (Long-Lived ) Tj ET Q q 0 0 0 rg BT 125.77 122.50 Td (Assets does not include deferred tax assets.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 101.50 Td (Business Strategy) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 80.50 Td (W) Tj ET Q q 0 0 0 rg BT 59.04 80.50 Td (illis ) Tj ET Q q 0 0 0 rg BT 76.36 80.50 Td (T) Tj ET Q q 0 0 0 rg BT 81.77 80.50 Td (owers ) Tj ET Q q 0 0 0 rg BT 107.97 80.50 Td (W) Tj ET Q q 0 0 0 rg BT 116.61 80.50 Td (atson sees that a unified approach to people and risk can be a path to growth for our clients. Our integrated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 68.50 Td (teams bring together our understanding of risk strategies and market analytics. ) Tj ET Q q 0 0 0 rg BT 365.84 68.50 Td (This helps clients around the world to achieve ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 56.50 Td (their objectives.) Tj ET Q endstream endobj 15 0 obj <> endobj 16 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 31.60 Td (7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 742.10 Td (e operate in attractive markets - both growing and mature - with a diversified platform across geographies, industries, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (segments and lines of business. ) Tj ET Q q 0 0 0 rg BT 177.58 730.10 Td (W) Tj ET Q q 0 0 0 rg BT 186.22 730.10 Td (e aim to become the premier advisory) Tj ET Q q 0 0 0 rg BT 336.63 730.10 Td (, broking and solutions company of choice globally) Tj ET Q q 0 0 0 rg BT 541.49 730.10 Td (. ) Tj ET Q q 0 0 0 rg BT 546.31 730.10 Td (W) Tj ET Q q 0 0 0 rg BT 554.95 730.10 Td (e ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (design and deliver solutions that manage risk, optimize benefits, cultivate talent, and expand the power of capital to protect and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (strengthen institutions and individuals. ) Tj ET Q q 0 0 0 rg BT 207.31 706.10 Td (W) Tj ET Q q 0 0 0 rg BT 215.95 706.10 Td (e also help or) Tj ET Q q 0 0 0 rg BT 269.36 706.10 Td (ganizations improve performance through ef) Tj ET Q q 0 0 0 rg BT 447.45 706.10 Td (fective people, risk and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (financial management by focusing on providing human capital and financial consulting services.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 673.10 Td () Tj ET Q q 0 0 0 rg BT 52.32 673.10 Td (W) Tj ET Q q 0 0 0 rg BT 60.96 673.10 Td (e believe we can achieve this by: ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 652.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 88.00 652.10 Td (Delivering a powerful client proposition with an integrated global platform. Our highly complementary of) Tj ET Q q 0 0 0 rg BT 512.15 652.10 Td (ferings ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 88.00 640.10 Td (provide comprehensive advice, analytics, specialty capabilities and solutions covering benefits, exchange solutions, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 88.00 628.10 Td (brokerage and advisory) Tj ET Q q 0 0 0 rg BT 181.20 628.10 Td (, risk and capital management; and talent and rewards; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 607.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 88.00 607.10 Td (Leveraging our combined distribution strength and global footprint to enhance market penetration and provide a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 88.00 595.10 Td (platform for further innovation; and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 574.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 88.00 574.10 Td (Underpinning this growth through continuous operational improvement initiatives that help make us more ef) Tj ET Q q 0 0 0 rg BT 522.45 574.10 Td (fective ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 88.00 562.10 Td (and ef) Tj ET Q q 0 0 0 rg BT 112.53 562.10 Td (ficient and drive cost syner) Tj ET Q q 0 0 0 rg BT 220.64 562.10 Td (gies. ) Tj ET Q q 0 0 0 rg BT 241.57 562.10 Td (W) Tj ET Q q 0 0 0 rg BT 250.21 562.10 Td (e do this by: ) Tj ET Q BT /F1 10.00 Tf ET /GS0 gs q 18.00 0 0 10.09 106.00 538.94 cm /I19 Do Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 124.00 541.10 Td (continuing to modernize the way we run our business to better serve our clients, enabling the skills of our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 124.00 529.10 Td (staf) Tj ET Q q 0 0 0 rg BT 138.26 529.10 Td (f, and lowering our costs of doing business; ) Tj ET Q BT /F1 10.00 Tf ET /GS0 gs q 18.00 0 0 10.09 106.00 505.94 cm /I20 Do Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 124.00 508.10 Td (making the necessary changes to our processes, our IT) Tj ET Q q 0 0 0 rg BT 341.24 508.10 Td (, our real estate and our workforce locations; and ) Tj ET Q BT /F1 10.00 Tf ET /GS0 gs q 18.00 0 0 10.09 106.00 484.94 cm /I21 Do Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 124.00 487.10 Td (tar) Tj ET Q q 0 0 0 rg BT 134.37 487.10 Td (geting and delivering identified, highly achievable cost savings as a direct consequence of the Mer) Tj ET Q q 0 0 0 rg BT 528.22 487.10 Td (ger) Tj ET Q q 0 0 0 rg BT 540.44 487.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 466.10 Td (e care as much about how we work as we do about the impact that we make. ) Tj ET Q q 0 0 0 rg BT 366.68 466.10 Td (This means commitment to shared values, a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.10 Td (framework that guides how we run our business and serve clients.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 433.10 Td (Through these strategies we aim to accelerate revenue, cash flow) Tj ET Q q 0 0 0 rg BT 309.23 433.10 Td (, earnings before interest, taxes, depreciation and amortization ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 421.10 Td (\(EBITDA) Tj ET Q q 0 0 0 rg BT 92.21 421.10 Td (\), and earnings growth, and generate compelling returns for investors, by delivering tangible revenue growth and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 409.10 Td (capitalizing on the identified cost syner) Tj ET Q q 0 0 0 rg BT 207.27 409.10 Td (gies.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 388.10 Td (Principal Services) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 367.10 Td (In ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 60.83 367.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.83 367.10 Td (, we began managing our business across four integrated reportable operating segments. ) Tj ET Q q 0 0 0 rg BT 437.11 367.10 Td (As a result, the Company has ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 355.10 Td (changed the way it manages and reports segment revenues and operating income, resulting in a change in the Company) Tj ET Q q 0 0 0 rg BT 530.13 355.10 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 343.10 Td (reportable segments from eight reportable segments, formerly known as ) Tj ET Q q 0 0 0 rg BT 340.29 343.10 Td (W) Tj ET Q q 0 0 0 rg BT 349.33 343.10 Td (illis International; ) Tj ET Q q 0 0 0 rg BT 423.02 343.10 Td (W) Tj ET Q q 0 0 0 rg BT 432.06 343.10 Td (illis North ) Tj ET Q q 0 0 0 rg BT 474.84 343.10 Td (America; ) Tj ET Q q 0 0 0 rg BT 514.36 343.10 Td (W) Tj ET Q q 0 0 0 rg BT 523.40 343.10 Td (illis ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 331.10 Td (Capital, ) Tj ET Q q 0 0 0 rg BT 83.70 331.10 Td (Wholesale & Reinsurance; ) Tj ET Q q 0 0 0 rg BT 193.20 331.10 Td (W) Tj ET Q q 0 0 0 rg BT 202.24 331.10 Td (illis GB; ) Tj ET Q q 0 0 0 rg BT 238.74 331.10 Td (T) Tj ET Q q 0 0 0 rg BT 244.15 331.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 270.35 331.10 Td (W) Tj ET Q q 0 0 0 rg BT 278.98 331.10 Td (atson Benefits; ) Tj ET Q q 0 0 0 rg BT 341.02 331.10 Td (T) Tj ET Q q 0 0 0 rg BT 346.43 331.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 372.63 331.10 Td (W) Tj ET Q q 0 0 0 rg BT 381.26 331.10 Td (atson Exchange Solutions; ) Tj ET Q q 0 0 0 rg BT 489.68 331.10 Td (T) Tj ET Q q 0 0 0 rg BT 495.09 331.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 521.29 331.10 Td (W) Tj ET Q q 0 0 0 rg BT 529.93 331.10 Td (atson ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 319.10 Td (Risk and Financial Services; and ) Tj ET Q q 0 0 0 rg BT 183.40 319.10 Td (T) Tj ET Q q 0 0 0 rg BT 188.81 319.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 215.01 319.10 Td (W) Tj ET Q q 0 0 0 rg BT 223.65 319.10 Td (atson ) Tj ET Q q 0 0 0 rg BT 247.08 319.10 Td (T) Tj ET Q q 0 0 0 rg BT 252.49 319.10 Td (alent and Rewards, into four reportable segments: Human Capital and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 307.10 Td (Benefits; Corporate Risk and Broking; Investment, Risk and Reinsurance; and Exchange Solutions. 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0 j 3 M 442.5 254.60000000000002 m 500.5 254.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 254.60000000000002 m 562.5 254.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 254.60000000000002 m 438.5 254.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 254.60000000000002 m 500.5 254.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 254.60000000000002 m 562.5 254.60000000000002 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 416.75 274.28 Td (Year ended December 31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 399.00 259.28 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 456.65 259.28 Td (2015 ) Tj ET Q BT /F2 10.00 Tf ET BT /F2 6.50 Tf ET q 0 0 0 rg BT 479.15 263.81 Td (\(i\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 518.65 259.28 Td (2014 ) Tj ET Q BT /F2 10.00 Tf ET BT /F2 6.50 Tf ET q 0 0 0 rg BT 541.15 263.81 Td (\(i\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 244.27 Td (Human Capital and Benefits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 244.27 Td (41) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.65 244.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 244.27 Td (18) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.65 244.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 244.27 Td (17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 244.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 229.27 Td (Corporate Risk and Broking) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 229.27 Td (32) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.65 229.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 229.27 Td (61) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.65 229.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 229.27 Td (63) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 229.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 214.27 Td (Investment, Risk and Reinsurance) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 214.27 Td (19) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.65 214.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 214.27 Td (21) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.65 214.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 214.27 Td (20) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 214.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 199.27 Td (Exchange Solutions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 199.27 Td (8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.65 199.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 199.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.65 199.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 199.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 199.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 183.10 Td (____________________) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 68.00 164.50 Td (\(i\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 164.50 Td (Figures have been recast into the new segment structure and do not include pro forma segment revenues from Legacy ) Tj ET Q q 0 0 0 rg BT 464.17 164.50 Td (T) Tj ET Q q 0 0 0 rg BT 468.50 164.50 Td (owers ) Tj ET Q q 0 0 0 rg BT 489.46 164.50 Td (W) Tj ET Q q 0 0 0 rg BT 496.37 164.50 Td (atson. For pro ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 154.90 Td (forma segment information, see our Form 8-K filed with the SEC on July 14, 2016.) 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Or) Tj ET Q q 0 0 0 rg BT 85.37 534.10 Td (ganized into four primary of) Tj ET Q q 0 0 0 rg BT 198.49 534.10 Td (ferings - Retirement; Health & Benefits; ) Tj ET Q q 0 0 0 rg BT 362.15 534.10 Td (T) Tj ET Q q 0 0 0 rg BT 367.56 534.10 Td (alent & Rewards; and ) Tj ET Q q 0 0 0 rg BT 456.80 534.10 Td (T) Tj ET Q q 0 0 0 rg BT 462.21 534.10 Td (echnology and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 522.10 Td (Administration Solutions, the segment is focused on addressing our clients) Tj ET Q q 0 0 0 rg BT 351.44 522.10 Td ( people and risk needs to help them take on the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 510.10 Td (challenges of operating in a global marketplace.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 241.87 510.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 489.10 Td (HCB is strengthened with teams of international consultants that provide support in each of these areas to the global ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 477.10 Td (headquarters of multinational clients and their foreign subsidiaries.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.70 477.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 456.10 Td (Retir) Tj ET Q q 0 0 0 rg BT 69.62 456.10 Td (ement) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 93.50 456.10 Td ( ) Tj ET Q q 0 0 0 rg BT 108.32 456.10 Td (The Retirement business provides actuarial support, plan design, and administrative services for traditional ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 444.10 Td (pension and retirement savings plans. Our colleagues help our clients assess the costs and risks of retirement plans on cash ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 432.10 Td (flow) Tj ET Q q 0 0 0 rg BT 67.68 432.10 Td (, earnings and the balance sheet, the ef) Tj ET Q q 0 0 0 rg BT 221.60 432.10 Td (fects of changing workforce demographics on their retirement plans and retiree ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 420.10 Td (benefit adequacy and security) Tj ET Q q 0 0 0 rg BT 168.46 420.10 Td (. ) Tj ET Q q 0 0 0 rg BT 173.28 420.10 Td (W) Tj ET Q q 0 0 0 rg BT 181.92 420.10 Td (e of) Tj ET Q q 0 0 0 rg BT 197.01 420.10 Td (fer clients a full range of integrated retirement consulting services to meet the needs of all ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 408.10 Td (types of employers - including those that continue to of) Tj ET Q q 0 0 0 rg BT 271.16 408.10 Td (fer defined benefit plans and those that are reexamining their retirement ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 396.10 Td (benefit strategies. ) Tj ET Q q 0 0 0 rg BT 122.85 396.10 Td (W) Tj ET Q q 0 0 0 rg BT 131.48 396.10 Td (e bring a particular in-depth data analysis and perspective to their decision process, because we have ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 384.10 Td (tracked the retirement designs of the lar) Tj ET Q q 0 0 0 rg BT 208.64 384.10 Td (gest public companies around the world over many years.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.41 384.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 363.10 Td (For clients that want to outsource some or all of their pension plan management, we of) Tj ET Q q 0 0 0 rg BT 396.40 363.10 Td (fer integrated solutions that combine ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 351.10 Td (investment consulting, pension administration, core actuarial services, and communication and change management assistance.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.73 351.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 330.10 Td (Our retirement consulting relationships are generally long-term in nature, and client retention rates for this business are high. ) Tj ET Q q 0 0 0 rg BT 551.52 330.10 Td (A) Tj ET Q q 0 0 0 rg BT 558.19 330.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 318.10 Td (significant portion of the revenues in this business is from recurring work, with multi-year contracts that are driven by the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 306.10 Td (heavily regulated nature of employee benefit plans and our clients) Tj ET Q q 0 0 0 rg BT 316.66 306.10 Td ( annual needs for these services. Revenues for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 294.10 Td (Retirement business are somewhat seasonal, as much of our work pertains to calendar) Tj ET Q q 0 0 0 rg BT 393.31 294.10 Td (-year plan administration and reporting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 282.10 Td (and compliance related to the completion of pension plan valuations; thus, the first quarter of the fiscal year is typically HCB) Tj ET Q q 0 0 0 rg BT 553.47 282.10 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 270.10 Td (strongest quarter) Tj ET Q q 0 0 0 rg BT 116.37 270.10 Td (. Major revenue growth drivers in this business include changes in regulations, capital market conditions, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 258.10 Td (increased global demand and increased market share.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 262.96 258.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 237.10 Td (Health and Benefits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 129.43 237.10 Td ( ) Tj ET Q q 0 0 0 rg BT 144.25 237.10 Td (The Health & Benefits \(H&B\) business provides plan management consulting, broking and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 225.10 Td (administration across the full spectrum of health and group benefit programs, including medical, dental, disability) Tj ET Q q 0 0 0 rg BT 504.51 225.10 Td (, life and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 213.10 Td (other coverage. ) Tj ET Q q 0 0 0 rg BT 113.58 213.10 Td (As a result of the Mer) Tj ET Q q 0 0 0 rg BT 200.87 213.10 Td (ger) Tj ET Q q 0 0 0 rg BT 213.24 213.10 Td (, our H&B reach extends from small/mid-market clients to lar) Tj ET Q q 0 0 0 rg BT 460.21 213.10 Td (ge market clients, across ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 201.10 Td (the full geographic footprint of the Company) Tj ET Q q 0 0 0 rg BT 229.31 201.10 Td (, and to most industries. ) Tj ET Q q 0 0 0 rg BT 327.18 201.10 Td (W) Tj ET Q q 0 0 0 rg BT 335.82 201.10 Td (e can address our clients) Tj ET Q q 0 0 0 rg BT 436.14 201.10 Td ( insured needs in more than ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 189.10 Td (160 countries.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 106.66 189.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 168.10 Td (Our consultants help clients make strategic decisions on topics such as optimizing program spend; evaluating emer) Tj ET Q q 0 0 0 rg BT 509.43 168.10 Td (ging ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 156.10 Td (coverage options \(including publicly-subsidized health insurance exchanges and private exchanges in the U.S.\); and dealing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 144.10 Td (with above-inflation-rate increases in healthcare costs. In addition to our consulting services, we manage a number of collective ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 132.10 Td (purchasing initiatives, such as pharmacy and stop-loss, that allow employers to realize greater value from third-party service ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 120.10 Td (providers than they can achieve on their own.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.16 120.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 99.10 Td (W) Tj ET Q q 0 0 0 rg BT 59.04 99.10 Td (ith Global Benefits Solutions, our suite of global services supporting medical, dental and risk \(life, accident and disability\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 87.10 Td (programs, we have a tailored of) Tj ET Q q 0 0 0 rg BT 176.44 87.10 Td (fering for multinationals. ) Tj ET Q q 0 0 0 rg BT 279.01 87.10 Td (That of) Tj ET Q q 0 0 0 rg BT 307.98 87.10 Td (fering includes a flexible set of ready-made of) Tj ET Q q 0 0 0 rg BT 492.45 87.10 Td (ferings, proven ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 75.10 Td (technology) Tj ET Q q 0 0 0 rg BT 93.78 75.10 Td (, ef) Tj ET Q q 0 0 0 rg BT 106.37 75.10 Td (ficient operational structure and an integrated approach to service delivery that translates to a globally consistent, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 63.10 Td (high-quality experience for our clients.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 205.78 63.10 Td ( ) Tj ET Q endstream endobj 19 0 obj <> endobj 20 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 31.60 Td (9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (Finally) Tj ET Q q 0 0 0 rg BT 77.69 742.10 Td (, H&B supports OneExchange ) Tj ET Q q 0 0 0 rg BT 201.28 742.10 Td (Active, our private health insurance exchange for active employees. ) Tj ET Q q 0 0 0 rg BT 475.15 742.10 Td (This of) Tj ET Q q 0 0 0 rg BT 503.57 742.10 Td (fering is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (integrated with other health insurance exchange of) Tj ET Q q 0 0 0 rg BT 251.96 730.10 Td (ferings, OneExchange Retiree and OneExchange ) Tj ET Q q 0 0 0 rg BT 449.65 730.10 Td (Access, which are of) Tj ET Q q 0 0 0 rg BT 532.77 730.10 Td (fered ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (within the Exchange Solutions segment.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 210.81 718.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 697.10 Td (T) Tj ET Q q 0 0 0 rg BT 54.64 697.10 Td (alent & Rewar) Tj ET Q q 0 0 0 rg BT 113.15 697.10 Td (ds) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.05 697.10 Td ( Our ) Tj ET Q q 0 0 0 rg BT 154.92 697.10 Td (T) Tj ET Q q 0 0 0 rg BT 160.33 697.10 Td (alent & Rewards \(T&R\) business covers three areas of specialty: Executive Compensation \(EC\); ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 685.10 Td (Rewards, ) Tj ET Q q 0 0 0 rg BT 89.81 685.10 Td (T) Tj ET Q q 0 0 0 rg BT 95.22 685.10 Td (alent & Communication \(R) Tj ET Q q 0 0 0 rg BT 207.10 685.10 Td (TC\); and Data, Surveys and ) Tj ET Q q 0 0 0 rg BT 324.11 685.10 Td (T) Tj ET Q q 0 0 0 rg BT 329.52 685.10 Td (echnology \(DST\). ) Tj ET Q q 0 0 0 rg BT 410.71 685.10 Td (T&R provides advice, data, software ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 673.10 Td (and products to address clients) Tj ET Q q 0 0 0 rg BT 175.34 673.10 Td ( total rewards and talent issues. ) Tj ET Q q 0 0 0 rg BT 302.62 673.10 Td (T&R has operations across the globe, including centralized ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 661.10 Td (software development and analytics teams that support the ef) Tj ET Q q 0 0 0 rg BT 294.18 661.10 Td (ficient delivery of services to clients.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.91 661.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 640.10 Td (W) Tj ET Q q 0 0 0 rg BT 59.04 640.10 Td (ithin our EC practice, we advise our clients) Tj ET Q q 0 0 0 rg BT 234.35 640.10 Td ( management and boards of directors on all aspects of executive pay programs, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 628.10 Td (including base pay) Tj ET Q q 0 0 0 rg BT 124.33 628.10 Td (, annual bonuses, long-term incentives, perquisites and other benefits. Our focus is on aligning pay plans ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 616.10 Td (with the or) Tj ET Q q 0 0 0 rg BT 93.14 616.10 Td (ganization) Tj ET Q q 0 0 0 rg BT 137.57 616.10 Td (s business strategy and driving desired performance.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 347.24 616.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 595.10 Td (R) Tj ET Q q 0 0 0 rg BT 56.07 595.10 Td (TC of) Tj ET Q q 0 0 0 rg BT 79.50 595.10 Td (fers services focused on designing and implementing rewards and talent management programs and processes which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 583.10 Td (help companies attract and deploy talent, engage them over time, manage and reward their performance, develop their skills, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 571.10 Td (provide them with relevant career paths, communicate with them and manage or) Tj ET Q q 0 0 0 rg BT 371.37 571.10 Td (ganizational change initiatives.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.49 571.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (Our DST) Tj ET Q q 0 0 0 rg BT 86.76 550.10 Td ( of) Tj ET Q q 0 0 0 rg BT 97.41 550.10 Td (ferings include market benchmarking data, employee insight and listening tools, talent assessment tools and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (services, and HR software to help companies administer and manage their talent management and reward programs and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (analyze talent trends.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 134.68 526.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 505.10 Td (Revenues for the ) Tj ET Q q 0 0 0 rg BT 120.07 505.10 Td (T&R business are partly seasonal in nature, with a meaningful amount of heightened activity in the second ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 493.10 Td (half of the calendar year during the annual compensation, benefits and survey cycles. ) Tj ET Q q 0 0 0 rg BT 392.74 493.10 Td (While ) Tj ET Q q 0 0 0 rg BT 419.50 493.10 Td (T&R enjoys long-term ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 481.10 Td (relationships with many clients, work in several practices is often project-based and can be sensitive to economic changes. ) Tj ET Q q 0 0 0 rg BT 541.88 481.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 469.10 Td (business benefits from regulatory changes af) Tj ET Q q 0 0 0 rg BT 228.37 469.10 Td (fecting our clients that require strategic advice, program changes and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 457.10 Td (communication such as CEO pay ratio disclosure and Fair Labor Standards ) Tj ET Q q 0 0 0 rg BT 352.99 457.10 Td (Act changes in the U.S., by which swaths of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 445.10 Td (employees will be newly-eligible for overtime pay) Tj ET Q q 0 0 0 rg BT 251.51 445.10 Td (. ) Tj ET Q q 0 0 0 rg BT 255.96 445.10 Td (Additional areas of growth for ) Tj ET Q q 0 0 0 rg BT 379.91 445.10 Td (T&R include evolving views on ef) Tj ET Q q 0 0 0 rg BT 518.31 445.10 Td (fective ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 433.10 Td (individual performance measurement and management, focus on workforce productivity improvements and labor cost ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 421.10 Td (reductions, globalization and digitization of the workforce, mer) Tj ET Q q 0 0 0 rg BT 303.35 421.10 Td (ger and acquisition \(M&A) Tj ET Q q 0 0 0 rg BT 411.38 421.10 Td (\) activity) Tj ET Q q 0 0 0 rg BT 449.88 421.10 Td (, technology-enabled ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 409.10 Td (approaches for measuring and understanding workforce engagement, and the opportunity to leverage HR software to improve ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 397.10 Td (the design, management and implementation of HR processes and programs.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.87 397.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 376.10 Td (T) Tj ET Q q 0 0 0 rg BT 54.64 376.10 Td (echnology and ) Tj ET Q q 0 0 0 rg BT 115.56 376.10 Td (Administration Solutions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 215.29 376.10 Td ( Our ) Tj ET Q q 0 0 0 rg BT 248.16 376.10 Td (T) Tj ET Q q 0 0 0 rg BT 253.57 376.10 Td (echnology and ) Tj ET Q q 0 0 0 rg BT 314.11 376.10 Td (Administration Solutions \(T) Tj ET Q q 0 0 0 rg BT 429.42 376.10 Td (AS\) business provides benefits ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 364.10 Td (outsourcing services to hundreds of clients across multiple industries. Our ) Tj ET Q q 0 0 0 rg BT 348.37 364.10 Td (T) Tj ET Q q 0 0 0 rg BT 353.68 364.10 Td (AS team focuses on clients outside of the U.S. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 352.10 Td (where our services are supported by high quality administration teams using robust technology platforms. ) Tj ET Q q 0 0 0 rg BT 477.50 352.10 Td (W) Tj ET Q q 0 0 0 rg BT 486.14 352.10 Td (e have high client ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 340.10 Td (retention rates, and we are the leading administrator among the 200 lar) Tj ET Q q 0 0 0 rg BT 332.50 340.10 Td (gest pension plans in the United Kingdom \(U.K.\), as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 328.10 Td (well as a leader in Germany) Tj ET Q q 0 0 0 rg BT 161.25 328.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.75 328.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 307.10 Td (For both our defined benefit and defined contribution administration services, we use highly-automated processes and web ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 295.10 Td (technology to enable benefit plan members to access and manage their records, perform self-service functions and improve ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 283.10 Td (their understanding of their benefits. Our technology also provides trustees and HR teams with timely management information ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 271.10 Td (to monitor activity and service levels and reduce administration costs.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.37 271.10 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 250.10 Td (Corporate Risk and Broking) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 166.97 250.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 229.10 Td (Our Corporate Risk & Broking \(CRB\) segment provides a broad range of risk advice, insurance brokerage and consulting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 217.10 Td (services to clients worldwide ranging from small businesses to multinational corporations. ) Tj ET Q q 0 0 0 rg BT 416.14 217.10 Td (W) Tj ET Q q 0 0 0 rg BT 424.78 217.10 Td (e deliver integrated global ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 205.10 Td (solutions tailored to client needs and underpinned by data and analytics.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.98 205.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 184.10 Td (CRB generated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 113.87 184.10 Td (approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 174.13 184.10 Td (32%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 192.46 184.10 Td ( of ) Tj ET Q q 0 0 0 rg BT 205.61 184.10 Td (W) Tj ET Q q 0 0 0 rg BT 214.65 184.10 Td (illis ) Tj ET Q q 0 0 0 rg BT 231.97 184.10 Td (T) Tj ET Q q 0 0 0 rg BT 237.38 184.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 263.58 184.10 Td (W) Tj ET Q q 0 0 0 rg BT 272.22 184.10 Td (atson revenues for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.74 184.10 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.33 184.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.83 184.10 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.41 184.10 Td (, and places more ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 172.10 Td (than $20 billion of premium into the insurance markets, annually) Tj ET Q q 0 0 0 rg BT 309.29 172.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.79 172.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 151.10 Td (CRB operates as an integrated global team comprising both functional and geographic leadership. In addition there are five ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 139.10 Td (global of) Tj ET Q q 0 0 0 rg BT 85.64 139.10 Td (ferings, which aim to leverage capabilities across geographies, including Property and Casualty) Tj ET Q q 0 0 0 rg BT 466.83 139.10 Td (, Financial Lines, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 127.10 Td (T) Tj ET Q q 0 0 0 rg BT 55.76 127.10 Td (ransport, ) Tj ET Q q 0 0 0 rg BT 92.97 127.10 Td (Af) Tj ET Q q 0 0 0 rg BT 103.34 127.10 Td (finity and Facultative. In these operations, we have extensive specialized experience handling diverse lines of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 115.10 Td (coverage, including complex insurance programs. ) Tj ET Q q 0 0 0 rg BT 251.32 115.10 Td (A) Tj ET Q q 0 0 0 rg BT 257.99 115.10 Td ( key objective is to assist clients in reducing their overall cost of risk.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.59 115.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 94.10 Td (Pr) Tj ET Q q 0 0 0 rg BT 59.63 94.10 Td (operty and Casualty ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 143.23 94.10 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 153.23 94.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 155.73 94.10 Td (Property and Casualty provides property and liability insurance brokerage services across a wide ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 82.10 Td (range of industries including construction, real estate, healthcare and natural resources. Our construction practice provides risk ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 70.10 Td (management advice and brokerage services for a wide range of international construction activities. Clients of the construction ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 58.10 Td (practice include contractors, project owners, project managers, consultants and financiers. Our natural resources practice ) Tj ET Q endstream endobj 21 0 obj <> endobj 22 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (encompasses the oil and gas, mining, power and utilities sectors; and provides services including property damage, of) Tj ET Q q 0 0 0 rg BT 520.54 742.10 Td (fshore ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (construction liability and other services to global clients.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 276.61 730.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 709.10 Td (Financial Lines ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 115.55 709.10 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 125.55 709.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.05 709.10 Td (Financial Lines specializes in brokerage services for financial, political and credit risks. Our clients include ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 697.10 Td (financial institutions and professional services firms from around the globe that require coverage for areas ranging from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 685.10 Td (business risks, like trade credit, directors and of) Tj ET Q q 0 0 0 rg BT 240.60 685.10 Td (ficers and medical malpractice, to external threats, like cyberattacks and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 673.10 Td (terrorism.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.16 673.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 652.10 Td (T) Tj ET Q q 0 0 0 rg BT 55.01 652.10 Td (ransport ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 91.96 652.10 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 101.96 652.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.46 652.10 Td (T) Tj ET Q q 0 0 0 rg BT 110.22 652.10 Td (ransport provides specialist expertise to the transportation industry and aerospace, marine and inspace practices. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 640.10 Td (Our aerospace business provides insurance brokerage and risk management services to aerospace clients worldwide, including ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 628.10 Td (the world) Tj ET Q q 0 0 0 rg BT 90.83 628.10 Td (s leading airlines, aircraft manufacturers, air car) Tj ET Q q 0 0 0 rg BT 282.21 628.10 Td (go handlers and other airport and general aviation companies. Our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 616.10 Td (marine business provides insurance brokerage services, including hull, car) Tj ET Q q 0 0 0 rg BT 346.95 616.10 Td (go, protection and indemnity and general marine ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 604.10 Td (liabilities. Our marine clients include ship owners, ship builders, logistics operations, port authorities, traders and shippers. ) Tj ET Q q 0 0 0 rg BT 543.61 604.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 592.10 Td (specialist inspace team is also prominent in providing insurance and risk management services to the space industry) Tj ET Q q 0 0 0 rg BT 512.56 592.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.06 592.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 571.10 Td (Affinity ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.94 571.10 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 91.94 571.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 94.44 571.10 Td (Af) Tj ET Q q 0 0 0 rg BT 104.81 571.10 Td (finity arranges the insurance products and services for our client partners to of) Tj ET Q q 0 0 0 rg BT 417.29 571.10 Td (fer to their customers, employees or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 559.10 Td (members alongside, or in addition to, their principal business activities. Products include: extended warranties, accidental ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 547.10 Td (damage of personal mobile devices, creditor payment protection, accident and health and personal lines.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.51 547.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (Facultative ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 98.04 526.10 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 108.04 526.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 110.54 526.10 Td (Facultative serves as a broker or intermediary for insurance companies looking to arrange reinsurance solutions ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (across classes of risk, which enable them to deliver dif) Tj ET Q q 0 0 0 rg BT 268.09 514.10 Td (ferentiated outcomes to their direct insureds, which in many situations ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (are also clients of the wider ) Tj ET Q q 0 0 0 rg BT 162.55 502.10 Td (W) Tj ET Q q 0 0 0 rg BT 171.59 502.10 Td (illis ) Tj ET Q q 0 0 0 rg BT 188.92 502.10 Td (T) Tj ET Q q 0 0 0 rg BT 194.33 502.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 220.53 502.10 Td (W) Tj ET Q q 0 0 0 rg BT 229.17 502.10 Td (atson business. ) Tj ET Q q 0 0 0 rg BT 293.98 502.10 Td (The facultative business also works closely with our treaty ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td (reinsurance business to structure reinsurance solutions that deliver capital and strategic benefits to insurance company clients.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.17 490.10 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 469.10 Td (Investment, Risk and Reinsurance) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 191.69 469.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 448.10 Td (The ) Tj ET Q q 0 0 0 rg BT 67.87 448.10 Td (W) Tj ET Q q 0 0 0 rg BT 76.90 448.10 Td (illis ) Tj ET Q q 0 0 0 rg BT 94.23 448.10 Td (T) Tj ET Q q 0 0 0 rg BT 99.64 448.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 125.84 448.10 Td (W) Tj ET Q q 0 0 0 rg BT 134.48 448.10 Td (atson Investment, Risk and Reinsurance \(IRR\) segment applies a sophisticated approach to risk which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 436.10 Td (helps clients free up capital and manage investment complexity) Tj ET Q q 0 0 0 rg BT 303.15 436.10 Td (. ) Tj ET Q q 0 0 0 rg BT 307.97 436.10 Td (The segment works closely with investors, reinsurers and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 424.10 Td (insurers to manage the equation between risk and return. Blending advanced analytics with deep institutional knowledge, IRR ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 412.10 Td (helps identify new opportunities to maximize performance. IRR provides investment consulting services and insurance specific ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 400.10 Td (services and solutions through reserves opinions, software, ratemaking, usage-based insurance, risk underwriting, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 388.10 Td (reinsurance broking.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 132.19 388.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 367.10 Td (This segment is our third lar) Tj ET Q q 0 0 0 rg BT 162.86 367.10 Td (gest segment and generated approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.85 367.10 Td (19%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.18 367.10 Td ( of revenues for the Company for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.69 367.10 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.27 367.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 355.10 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.58 355.10 Td (. ) Tj ET Q q 0 0 0 rg BT 133.40 355.10 Td (W) Tj ET Q q 0 0 0 rg BT 142.44 355.10 Td (ith approximately 80% of the revenues for this segment split between North ) Tj ET Q q 0 0 0 rg BT 447.92 355.10 Td (America and the U.K., this ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 343.10 Td (segment includes the following businesses and of) Tj ET Q q 0 0 0 rg BT 247.56 343.10 Td (ferings: ) Tj ET Q q 0 0 0 rg BT 280.43 343.10 Td (W) Tj ET Q q 0 0 0 rg BT 289.47 343.10 Td (illis Re; Risk Consulting and Software; Investment; ) Tj ET Q q 0 0 0 rg BT 498.44 343.10 Td (Wholesale ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 331.10 Td (Insurance Broking; Portfolio and Underwriting Services; and Capital Markets & ) Tj ET Q q 0 0 0 rg BT 373.27 331.10 Td (Advisory) Tj ET Q q 0 0 0 rg BT 409.84 331.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.34 331.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 310.10 Td (W) Tj ET Q q 0 0 0 rg BT 57.78 310.10 Td (illis Re ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 88.33 310.10 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 98.33 310.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 100.83 310.10 Td (W) Tj ET Q q 0 0 0 rg BT 109.87 310.10 Td (illis Re provides reinsurance industry clients with an understanding of how risk af) Tj ET Q q 0 0 0 rg BT 437.40 310.10 Td (fects capital and financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.10 Td (performance and advises on the best ways to manage related outcomes. ) Tj ET Q q 0 0 0 rg BT 337.50 298.10 Td (W) Tj ET Q q 0 0 0 rg BT 346.13 298.10 Td (e operate this business on a global basis and provide ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.10 Td (a complete range of transactional capabilities, including, in conjunction with Capital Markets & ) Tj ET Q q 0 0 0 rg BT 435.17 286.10 Td (Advisory) Tj ET Q q 0 0 0 rg BT 471.74 286.10 Td (, a wide variety of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.10 Td (capital markets-based products to both insurance and reinsurance companies. Our services are underpinned by modeling, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.10 Td (financial analysis and risk management advice.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.82 262.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 241.10 Td (Risk Consulting and Softwar) Tj ET Q q 0 0 0 rg BT 164.36 241.10 Td (e ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 171.30 241.10 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 181.30 241.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 183.80 241.10 Td (Risk Consulting and Software is a global business that provides advice and technology ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 229.10 Td (solutions to the insurance industry) Tj ET Q q 0 0 0 rg BT 186.56 229.10 Td (, as well as to corporate clients with respect to their insurance programs. ) Tj ET Q q 0 0 0 rg BT 477.67 229.10 Td (W) Tj ET Q q 0 0 0 rg BT 486.31 229.10 Td (e leverage our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 217.10 Td (industry experience, strategic perspective and analytical skills to help clients measure and manage risk and capital, improve ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 205.10 Td (business performance and create a sustainable competitive advantage. Our services include software and technology) Tj ET Q q 0 0 0 rg BT 514.17 205.10 Td (, risk and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 193.10 Td (capital management, products and pricing, financial and regulatory reporting, financial and capital modeling, M&A, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 181.10 Td (outsourcing and business management.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 206.64 181.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 160.10 Td (Investment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.82 160.10 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 105.82 160.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.32 160.10 Td (Investment provides advice to improve investment outcomes for asset owners using a broad and sophisticated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 148.10 Td (framework for managing risk. ) Tj ET Q q 0 0 0 rg BT 172.28 148.10 Td (W) Tj ET Q q 0 0 0 rg BT 180.92 148.10 Td (e provide coordinated investment advice and solutions to some of the world) Tj ET Q q 0 0 0 rg BT 486.68 148.10 Td (s lar) Tj ET Q q 0 0 0 rg BT 503.44 148.10 Td (gest pension ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 136.10 Td (funds and institutional investors based on our expertise in risk assessment, asset-liability modeling, strategic asset allocation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 124.10 Td (policy setting, manager selection and investment execution. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.32 124.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 103.10 Td (Wholesale Insurance Br) Tj ET Q q 0 0 0 rg BT 146.27 103.10 Td (oking ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 170.99 103.10 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 180.99 103.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 183.49 103.10 Td (Wholesale Insurance Broking provides wholesale and specialist broking services to retail ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 91.10 Td (brokers worldwide, through ) Tj ET Q q 0 0 0 rg BT 163.69 91.10 Td (W) Tj ET Q q 0 0 0 rg BT 172.72 91.10 Td (illis ) Tj ET Q q 0 0 0 rg BT 190.05 91.10 Td (T) Tj ET Q q 0 0 0 rg BT 195.46 91.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 221.66 91.10 Td (W) Tj ET Q q 0 0 0 rg BT 230.30 91.10 Td (atson and London based specialist broker Miller Insurance Services LLP) Tj ET Q q 0 0 0 rg BT 519.94 91.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.94 91.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 70.10 Td (Portfolio and Underwriting Services ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 198.88 70.10 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 208.88 70.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 211.38 70.10 Td (Portfolio and Underwriting Services, with operations in London and North ) Tj ET Q q 0 0 0 rg BT 512.16 70.10 Td (America, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 58.10 Td (brings together our existing set of Managing General ) Tj ET Q q 0 0 0 rg BT 263.84 58.10 Td (Agent underwriting activities for purposes of accelerating their future ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 46.10 Td (development. ) Tj ET Q q 0 0 0 rg BT 106.47 46.10 Td (W) Tj ET Q q 0 0 0 rg BT 115.51 46.10 Td (ithin Portfolio and Underwriting Services, we act on behalf of our insurance carrier partners and self-insured ) Tj ET Q endstream endobj 23 0 obj <> endobj 24 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.15 31.60 Td (1) Tj ET Q q 0 0 0 rg BT 305.78 31.60 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (entities in product marketing and distribution, risk underwriting and selection, claims management and other general ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (administrative responsibilities. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 175.26 730.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 709.10 Td (Capital Markets & ) Tj ET Q q 0 0 0 rg BT 127.87 709.10 Td (Advisory ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 165.92 709.10 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 175.92 709.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 178.42 709.10 Td (Capital Markets & ) Tj ET Q q 0 0 0 rg BT 254.79 709.10 Td (Advisory) Tj ET Q q 0 0 0 rg BT 291.37 709.10 Td (, with of) Tj ET Q q 0 0 0 rg BT 324.79 709.10 Td (fices in New ) Tj ET Q q 0 0 0 rg BT 377.46 709.10 Td (Y) Tj ET Q q 0 0 0 rg BT 383.68 709.10 Td (ork, London, Hong Kong and Sydney) Tj ET Q q 0 0 0 rg BT 533.85 709.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 697.10 Td (provides investment banking services to companies involved in the insurance and reinsurance industries for a broad array of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 685.10 Td (mer) Tj ET Q q 0 0 0 rg BT 65.37 685.10 Td (ger and acquisition transactions as well as capital markets products, including acting as underwriter for primary issuances, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 673.10 Td (operating a secondary insurance-linked securities trading desk and engaging in strategic advisory work.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.03 673.10 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 652.10 Td (Exchange Solutions) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 133.08 652.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 631.10 Td (The ) Tj ET Q q 0 0 0 rg BT 67.87 631.10 Td (W) Tj ET Q q 0 0 0 rg BT 76.90 631.10 Td (illis ) Tj ET Q q 0 0 0 rg BT 94.23 631.10 Td (T) Tj ET Q q 0 0 0 rg BT 99.64 631.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 125.84 631.10 Td (W) Tj ET Q q 0 0 0 rg BT 134.48 631.10 Td (atson Exchange Solutions \(ES\) segment provides primary medical and ancillary benefit exchange and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 619.10 Td (outsourcing services to active employees and retirees across both the group and individual markets. ES services individual ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 607.10 Td (populations via its group to individual) Tj ET Q q 0 0 0 rg BT 208.41 607.10 Td ( technology platform, which tightly integrates patented call routing technology) Tj ET Q q 0 0 0 rg BT 522.68 607.10 Td (, an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 595.10 Td (ef) Tj ET Q q 0 0 0 rg BT 57.59 595.10 Td (ficient quoting and enrollment engine, a Customer Relationship Management system and comprehensive insurance carrier ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 583.10 Td (connectivity) Tj ET Q q 0 0 0 rg BT 98.78 583.10 Td (. ) Tj ET Q q 0 0 0 rg BT 103.60 583.10 Td (This segment also delivers group benefit exchanges and full outsourcing solutions serving the active employees of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 571.10 Td (employers across the United States. ES uses Software as a Service \(SaaS\)-based technology and related services to deliver ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 559.10 Td (consumer) Tj ET Q q 0 0 0 rg BT 88.68 559.10 Td (-driven healthcare and reimbursement accounts, including health savings accounts, health reimbursement ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 547.10 Td (arrangements, flexible spending accounts and other consumer) Tj ET Q q 0 0 0 rg BT 296.66 547.10 Td (-directed accounts.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.18 547.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (A) Tj ET Q q 0 0 0 rg BT 56.67 526.10 Td ( significant portion of the revenues in this segment is recurring in nature, driven by either the commissions from the policies ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (we sell, or from long-term service contracts with our clients that typically range from three to five years. Revenues across this ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (segment may be seasonal, driven by the magnitude and timing of client transition activities, and we typically increase our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td (membership levels significantly ef) Tj ET Q q 0 0 0 rg BT 187.84 490.10 Td (fective January 1, after calendar year) Tj ET Q q 0 0 0 rg BT 335.32 490.10 Td (-end benefits elections.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.79 490.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 469.10 Td (ES generated approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 165.79 469.10 Td (8%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 179.12 469.10 Td ( of our revenues for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.20 469.10 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.78 469.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.28 469.10 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.86 469.10 Td (. ES provides services across four ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 457.10 Td (integrated or related of) Tj ET Q q 0 0 0 rg BT 141.16 457.10 Td (ferings to customers primarily in the U.S., including Retiree & ) Tj ET Q q 0 0 0 rg BT 393.62 457.10 Td (Access Exchanges; ) Tj ET Q q 0 0 0 rg BT 472.48 457.10 Td (Active Exchanges; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 445.10 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 445.10 Td (echnology and ) Tj ET Q q 0 0 0 rg BT 115.95 445.10 Td (Administration Solutions; and Consumer) Tj ET Q q 0 0 0 rg BT 279.92 445.10 Td (-Directed ) Tj ET Q q 0 0 0 rg BT 319.62 445.10 Td (Accounts.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.89 445.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 424.10 Td (Retir) Tj ET Q q 0 0 0 rg BT 69.62 424.10 Td (ee & ) Tj ET Q q 0 0 0 rg BT 91.10 424.10 Td (Access Exchanges ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 166.62 424.10 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 176.62 424.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 179.12 424.10 Td (This business provides solutions through a proprietary technology platform, OneExchange ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 412.10 Td (Retiree, which enables our employer clients to transition their retirees to individual, defined contribution health plans that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 400.10 Td (provide individuals with a tax-free allowance or contribution to spend on healthcare services at an annual cost that the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 388.10 Td (employer controls, as opposed to group-based, defined benefit health plans that provide groups of individuals with healthcare ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 376.10 Td (benefits at uncertain annual costs.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 185.23 376.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 355.10 Td (Active Exchanges ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 123.30 355.10 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 133.30 355.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.80 355.10 Td (This business is focused on delivering group benefit exchanges, serving the active employees of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 343.10 Td (employers across the United States. Using our proprietary BenefitConnect or Bright Choices exchange platforms, combined ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 331.10 Td (with our expertise in creating high-performing benefit plan designs, we believe we are well-positioned to help our clients ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 319.10 Td (simplify their benefits delivery) Tj ET Q q 0 0 0 rg BT 172.93 319.10 Td (, while lowering the total costs of benefits and related administration. ) Tj ET Q q 0 0 0 rg BT 454.90 319.10 Td (W) Tj ET Q q 0 0 0 rg BT 463.54 319.10 Td (e have relationships ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 307.10 Td (with more than 400 broker partners to access and service the small to mid-size group market and of) Tj ET Q q 0 0 0 rg BT 447.19 307.10 Td (fer both fully-insured and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 295.10 Td (self-insured exchanges to meet the needs of our employer clients.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.58 295.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 274.10 Td (T) Tj ET Q q 0 0 0 rg BT 54.64 274.10 Td (echnology and ) Tj ET Q q 0 0 0 rg BT 115.56 274.10 Td (Administration Solutions ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 217.79 274.10 Td ( ) Tj ET Q q 0 0 0 rg BT 230.11 274.10 Td (Through our proprietary BenefitConnect technology) Tj ET Q q 0 0 0 rg BT 438.84 274.10 Td (, this business provides a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.10 Td (broad suite of health and welfare outsourcing services as well as decision support and modeling tools for pension users. ) Tj ET Q q 0 0 0 rg BT 530.26 262.10 Td (W) Tj ET Q q 0 0 0 rg BT 539.30 262.10 Td (ith ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.10 Td (our disciplined approach to customer service, we of) Tj ET Q q 0 0 0 rg BT 256.42 250.10 Td (fer cost-ef) Tj ET Q q 0 0 0 rg BT 297.04 250.10 Td (fective, high-touch service to hundreds of clients across many ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.10 Td (industries.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 91.39 238.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 217.10 Td (Consumer) Tj ET Q q 0 0 0 rg BT 90.91 217.10 Td (-Dir) Tj ET Q q 0 0 0 rg BT 107.76 217.10 Td (ected ) Tj ET Q q 0 0 0 rg BT 131.18 217.10 Td (Accounts ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 170.33 217.10 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 180.33 217.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 182.83 217.10 Td (This business uses its SaaS-based technology and related services to deliver consumer) Tj ET Q q 0 0 0 rg BT 527.27 217.10 Td (-driven ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 205.10 Td (healthcare and reimbursement accounts, including health savings accounts, health reimbursement arrangements and other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 193.10 Td (consumer) Tj ET Q q 0 0 0 rg BT 88.68 193.10 Td (-directed accounts.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 164.19 193.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 172.10 Td (Competition ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 153.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 153.10 Td (e face competition in all fields in which we operate, based on global capability) Tj ET Q q 0 0 0 rg BT 372.32 153.10 Td (, product breadth, innovation, quality of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 141.10 Td (service and price. ) Tj ET Q q 0 0 0 rg BT 122.56 141.10 Td (W) Tj ET Q q 0 0 0 rg BT 131.20 141.10 Td (e compete with ) Tj ET Q q 0 0 0 rg BT 194.23 141.10 Td (Accenture plc, ) Tj ET Q q 0 0 0 rg BT 254.48 141.10 Td (Aon plc, ) Tj ET Q q 0 0 0 rg BT 290.87 141.10 Td (Arthur J. Gallagher& Co., Brown& Brown Inc., Cognizant ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 129.10 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 129.10 Td (echnology Solutions Corporation, Marsh & McLennan Companies, Inc. and Robert Half International Inc., as well as with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 117.10 Td (numerous specialty) Tj ET Q q 0 0 0 rg BT 126.83 117.10 Td (, regional and local firms. Marsh& McLennan Companies and ) Tj ET Q q 0 0 0 rg BT 380.10 117.10 Td (Aon plc are the two other major providers of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 105.10 Td (global risk management services. Competition for business is intense in all of our business lines and in every insurance market, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 93.10 Td (and in some business lines Marsh & McLennan Companies and ) Tj ET Q q 0 0 0 rg BT 306.63 93.10 Td (Aon plc have greater market share than we do.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 74.10 Td (Competition on premium rates has also exacerbated the pressures caused by a continuing reduction in demand in some classes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 62.10 Td (of business. For example, rather than purchase additional insurance through brokers, some insureds have been retaining a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 50.10 Td (greater proportion of their risk portfolios than previously) Tj ET Q q 0 0 0 rg BT 276.80 50.10 Td (. Industrial and commercial companies increasingly rely upon their ) 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 (12) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (own subsidiary insurance companies, known as captive insurance companies, self-insurance pools, risk retention groups, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (mutual insurance companies and other mechanisms for funding their risks, rather than buy insurance. ) Tj ET Q q 0 0 0 rg BT 456.55 730.10 Td (Additional competitive ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (pressures arise from the entry of new market participants, such as banks, accounting firms and insurance carriers themselves, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (of) Tj ET Q q 0 0 0 rg BT 58.15 706.10 Td (fering risk management or transfer services.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 234.19 706.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 687.10 Td (The human capital and risk management consulting industries are highly competitive. ) Tj ET Q q 0 0 0 rg BT 395.28 687.10 Td (W) Tj ET Q q 0 0 0 rg BT 403.92 687.10 Td (e believe there are significant barriers ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 675.10 Td (to entry) Tj ET Q q 0 0 0 rg BT 80.18 675.10 Td (, and we have developed competitive advantages in providing HR consulting and risk management consulting services. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 663.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 663.10 Td (e face strong competition from several sources.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 247.73 663.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 644.10 Td (Our principal competitors in the pension consulting industry are Mercer HR Consulting \(a Marsh& McLennan company\) and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 632.10 Td (Aon plc. Beyond these lar) Tj ET Q q 0 0 0 rg BT 153.96 632.10 Td (ge players, the global HR consulting industry is highly fragmented.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.08 632.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 613.10 Td (Our major competitors in the insurance consulting and software industry include Milliman, Oliver ) Tj ET Q q 0 0 0 rg BT 444.73 613.10 Td (W) Tj ET Q q 0 0 0 rg BT 453.57 613.10 Td (yman \(a Marsh& ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 601.10 Td (McLennan company\), the big four accounting firms and SunGard. ) Tj ET Q q 0 0 0 rg BT 316.88 601.10 Td (Aon, Buck Consultants \(a Xerox Company\), Connextions \(a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 589.10 Td (United Healthcare company\), Mercer \(a Marsh& McLennan company\), ) Tj ET Q q 0 0 0 rg BT 340.72 589.10 Td (Automatic Data Processing and Fidelity are our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 577.10 Td (primary competitors in the insurance exchange industry) Tj ET Q q 0 0 0 rg BT 272.06 577.10 Td (. ) Tj ET Q q 0 0 0 rg BT 276.88 577.10 Td (W) Tj ET Q q 0 0 0 rg BT 285.92 577.10 Td (ith the implementation of the Patient Protection and ) Tj ET Q q 0 0 0 rg BT 494.77 577.10 Td (Af) Tj ET Q q 0 0 0 rg BT 505.14 577.10 Td (fordable Care ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 565.10 Td (Act, we also compete with the public exchanges currently run by the U.S. federal and state governments. ) Tj ET Q q 0 0 0 rg BT 471.63 565.10 Td (W) Tj ET Q q 0 0 0 rg BT 480.27 565.10 Td (e now compete with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 553.10 Td (providers of account-based health plans and consumer) Tj ET Q q 0 0 0 rg BT 266.95 553.10 Td (-directed benefits such as ) Tj ET Q q 0 0 0 rg BT 370.62 553.10 Td (W) Tj ET Q q 0 0 0 rg BT 379.25 553.10 Td (ageW) Tj ET Q q 0 0 0 rg BT 401.77 553.10 Td (orks and HealthEquity) Tj ET Q q 0 0 0 rg BT 491.10 553.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.60 553.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 534.10 Td (The market for our services is subject to change as a result of economic, regulatory and legislative changes, technological ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 522.10 Td (developments, and increased competition from established and new competitors. Regulatory and legislative actions, along with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 510.10 Td (continuously evolving technological developments, will likely have the greatest impact on the overall market for our exchange ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 498.10 Td (products. ) Tj ET Q q 0 0 0 rg BT 89.26 498.10 Td (W) Tj ET Q q 0 0 0 rg BT 97.90 498.10 Td (e believe the primary factors in selecting an HR consulting or risk management services firm include reputation, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 486.10 Td (ability to provide measurable increases to shareholder value and return on investment, global scale, quality of service and the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 474.10 Td (ability to tailor services to clients) Tj ET Q q 0 0 0 rg BT 185.61 474.10 Td ( unique needs. ) Tj ET Q q 0 0 0 rg BT 245.42 474.10 Td (W) Tj ET Q q 0 0 0 rg BT 254.45 474.10 Td (ith regard to the market for exchanges, we believe that clients base their ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 462.10 Td (decisions on a variety of factors that include the ability of the provider to deliver measurable cost savings for clients, a strong ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 450.10 Td (reputation for ef) Tj ET Q q 0 0 0 rg BT 114.79 450.10 Td (ficient execution, a provider) Tj ET Q q 0 0 0 rg BT 227.89 450.10 Td () Tj ET Q q 0 0 0 rg BT 230.67 450.10 Td (s capability in delivering a broad number of configurations to serve various ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 438.10 Td (population segments and financing options, and an innovative service delivery model and platform. For our traditional ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 426.10 Td (consulting and risk management services and the rapidly evolving exchange products, we believe we compete favorably with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 414.10 Td (respect to these factors.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 143.85 414.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 393.10 Td (Regulation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 372.10 Td (Our business activities are subject to legal requirements and governmental and quasi-governmental regulatory supervision in all ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 360.10 Td (countries in which we operate. ) Tj ET Q q 0 0 0 rg BT 174.40 360.10 Td (Also, such regulations may require individual or company licensing to conduct our business ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 348.10 Td (activities. ) Tj ET Q q 0 0 0 rg BT 90.92 348.10 Td (While these requirements may vary from location to location, they are generally designed to protect our clients by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 336.10 Td (establishing minimum standards of conduct and practice, particularly regarding the provision of advice and product ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 324.10 Td (information, as well as financial criteria. ) Tj ET Q q 0 0 0 rg BT 214.20 324.10 Td (W) Tj ET Q q 0 0 0 rg BT 222.84 324.10 Td (e are also subject to data privacy regulations in many countries. Our most ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 312.10 Td (significant regulatory regions are described below:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 252.98 312.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 291.10 Td (United States) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 103.60 291.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 270.10 Td (Our activities in connection with insurance brokerage services within the United States are subject to regulation and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 258.10 Td (supervision by state authorities. ) Tj ET Q q 0 0 0 rg BT 178.59 258.10 Td (Although the scope of regulation and form of supervision may vary from state to state, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 246.10 Td (insurance laws in the United States are often complex and generally grant broad discretion to supervisory authorities in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 234.10 Td (adopting regulations and supervising regulated activities. ) Tj ET Q q 0 0 0 rg BT 280.60 234.10 Td (That supervision generally includes the licensing of insurance brokers ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 222.10 Td (and agents and the regulation of the handling and investment of client funds held in a fiduciary capacity) Tj ET Q q 0 0 0 rg BT 464.50 222.10 Td (. Our continuing ability ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 210.10 Td (to provide insurance brokerage in the states in which we currently operate is dependent upon our compliance with the rules and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 198.10 Td (regulations promulgated by the regulatory authorities in each of these states. ) Tj ET Q q 0 0 0 rg BT 357.13 198.10 Td (Additionally) Tj ET Q q 0 0 0 rg BT 407.04 198.10 Td (, some of our private exchange ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 186.10 Td (activities are overseen by the Centers for Medicare & Medicaid Services, which is part of the Department of Health and Human ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 174.10 Td (Services.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.38 174.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 153.10 Td (Certain of our activities are governed by other regulatory bodies, such as investment and securities licensing authorities. Our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 141.10 Td (activities in connection with investment services within the United States are subject to regulation and supervision at both the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 129.10 Td (federal and state levels. ) Tj ET Q q 0 0 0 rg BT 145.79 129.10 Td (At the federal level, certain of our operating subsidiaries are regulated by the SEC through the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 117.10 Td (Investment Company ) Tj ET Q q 0 0 0 rg BT 137.77 117.10 Td (Act of 1940 and the Investment ) Tj ET Q q 0 0 0 rg BT 266.07 117.10 Td (Advisers) Tj ET Q q 0 0 0 rg BT 304.21 117.10 Td ( ) Tj ET Q q 0 0 0 rg BT 306.16 117.10 Td (Act of 1940; and by the Department of Labor through the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 105.10 Td (Employee Retirement Income Security ) Tj ET Q q 0 0 0 rg BT 207.73 105.10 Td (Act, or ERISA. In connection with the SEC regulations, we are required to file certain ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 93.10 Td (reports, and are subject to various marketing restrictions, among other requirements. In connection with ERISA) Tj ET Q q 0 0 0 rg BT 495.72 93.10 Td ( regulations, we ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 81.10 Td (are restricted in actions we can take for plans for which we serve as fiduciaries, among other matters. Our U.S. investment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 69.10 Td (activities are also subject to certain state regulatory schemes.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.52 69.10 Td ( ) Tj ET Q endstream endobj 27 0 obj <> endobj 28 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (Our Capital Markets & ) Tj ET Q q 0 0 0 rg BT 144.43 742.10 Td (Advisory business operates through its wholly-owned subsidiary) Tj ET Q q 0 0 0 rg BT 402.64 742.10 Td (, ) Tj ET Q q 0 0 0 rg BT 407.46 742.10 Td (W) Tj ET Q q 0 0 0 rg BT 416.50 742.10 Td (illis Securities, Inc., a U.S.-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (registered broker) Tj ET Q q 0 0 0 rg BT 117.82 730.10 Td (-dealer and member of FINRA/SIPC, primarily in connection with investment banking services and advising ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (on alternative risk financing transactions.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 215.22 718.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 697.10 Td (Our activities in connection with ) Tj ET Q q 0 0 0 rg BT 183.40 697.10 Td (Third Party ) Tj ET Q q 0 0 0 rg BT 231.17 697.10 Td (Administrator \(TP) Tj ET Q q 0 0 0 rg BT 307.19 697.10 Td (A) Tj ET Q q 0 0 0 rg BT 313.30 697.10 Td (\) services in the United States are also subject to regulation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 685.10 Td (and supervision by many state authorities. Licensing requirements and supervision vary from state to state. ) Tj ET Q q 0 0 0 rg BT 484.07 685.10 Td (As with insurance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 673.10 Td (brokerage services, our continuing ability to provide these services in states that regulate our activities is dependent upon our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 661.10 Td (compliance with the rules and regulations promulgated from time to time by the regulatory authorities in each of these states.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.41 661.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 640.10 Td (Eur) Tj ET Q q 0 0 0 rg BT 64.63 640.10 Td (opean Union) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 116.57 640.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 619.10 Td (In 2005, the European Union Insurance Mediation Directive introduced rules to enable insurance and reinsurance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 607.10 Td (intermediaries to operate and provide services within each member state of the European Union \(E.U.\) on a basis consistent ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 595.10 Td (with the E.U. single market and customer protection aims. Each E.U. member state in which we operate is required to ensure ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 583.10 Td (that the insurance and reinsurance intermediaries resident in their country are registered with a statutory body in that country ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 571.10 Td (and that each intermediary meets professional requirements in relation to their competence, good repute, professional ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 559.10 Td (indemnity cover and financial capacity) Tj ET Q q 0 0 0 rg BT 204.84 559.10 Td (. ) Tj ET Q q 0 0 0 rg BT 209.66 559.10 Td (The E.U. has been in the process of updating the Insurance Mediation Directive. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 547.10 Td (V) Tj ET Q q 0 0 0 rg BT 56.11 547.10 Td (arious E.U. bodies are working on creating a replacement to the Insurance Mediation Directive called the Insurance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 535.10 Td (Distribution Directive. ) Tj ET Q q 0 0 0 rg BT 145.36 535.10 Td (The current timetable would require all E.U. member states to make the Insurance Distribution ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 523.10 Td (Directive national law by February 2018. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 222.45 523.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (In addition, Capital Markets & ) Tj ET Q q 0 0 0 rg BT 174.98 502.10 Td (Advisory provides advice on securities or investments in the European Union and ) Tj ET Q q 0 0 0 rg BT 503.80 502.10 Td (Australia ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td (through our U.K. wholly-owned subsidiary) Tj ET Q q 0 0 0 rg BT 222.11 490.10 Td (, ) Tj ET Q q 0 0 0 rg BT 226.93 490.10 Td (W) Tj ET Q q 0 0 0 rg BT 235.97 490.10 Td (illis Capital Markets & ) Tj ET Q q 0 0 0 rg BT 329.85 490.10 Td (Advisory Limited, which is authorized and regulated by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (the FCA) Tj ET Q q 0 0 0 rg BT 83.62 478.10 Td ( \(as defined below\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.03 478.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 457.10 Td (W) Tj ET Q q 0 0 0 rg BT 59.04 457.10 Td (illis ) Tj ET Q q 0 0 0 rg BT 76.36 457.10 Td (T) Tj ET Q q 0 0 0 rg BT 81.77 457.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 107.97 457.10 Td (W) Tj ET Q q 0 0 0 rg BT 116.61 457.10 Td (atson is also subject to the new E.U. General Data Protection Regulation \(GDPR\), which goes into ef) Tj ET Q q 0 0 0 rg BT 527.72 457.10 Td (fect in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 445.10 Td (May 2018. ) Tj ET Q q 0 0 0 rg BT 98.15 445.10 Td (The GDPR is a new) Tj ET Q q 0 0 0 rg BT 177.49 445.10 Td (, comprehensive regime covering data protection. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.97 445.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 424.10 Td (United Kingdom) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 116.39 424.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 405.10 Td (In the United Kingdom, our business is regulated by the Financial Conduct ) Tj ET Q q 0 0 0 rg BT 351.90 405.10 Td (Authority \(FCA) Tj ET Q q 0 0 0 rg BT 418.29 405.10 Td (\). ) Tj ET Q q 0 0 0 rg BT 429.77 405.10 Td (The FCA) Tj ET Q q 0 0 0 rg BT 466.72 405.10 Td ( has a wide range of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 393.10 Td (rule-making, investigatory and enforcement powers, and conducts monitoring visits to assess our compliance with regulatory ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 381.10 Td (requirements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.70 381.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 362.10 Td (The FCA) Tj ET Q q 0 0 0 rg BT 86.95 362.10 Td ( has a sole strategic objective: to ensure that the relevant markets function well. Its operational objectives are to: ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 350.10 Td (secure an appropriate degree of protection for consumers; protect and enhance the integrity of the U.K. financial system; and to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 338.10 Td (promote ef) Tj ET Q q 0 0 0 rg BT 93.41 338.10 Td (fective competition in the interests of consumers. ) Tj ET Q q 0 0 0 rg BT 292.62 338.10 Td (The FCA) Tj ET Q q 0 0 0 rg BT 329.57 338.10 Td ( has powers in product intervention. For instance, it can ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 326.10 Td (instruct firms to withdraw or amend misleading financial promotions. ) Tj ET Q q 0 0 0 rg BT 330.50 326.10 Td (A) Tj ET Q q 0 0 0 rg BT 337.17 326.10 Td ( U.K. exit from the E.U. may cause an increase in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 314.10 Td (regulations in the U.K.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 141.37 314.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 295.10 Td (Other) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 73.33 295.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 276.10 Td (Capital Markets & ) Tj ET Q q 0 0 0 rg BT 126.38 276.10 Td (Advisory) Tj ET Q q 0 0 0 rg BT 162.95 276.10 Td (, through its af) Tj ET Q q 0 0 0 rg BT 221.09 276.10 Td (filiate, ) Tj ET Q q 0 0 0 rg BT 249.23 276.10 Td (W) Tj ET Q q 0 0 0 rg BT 258.27 276.10 Td (illis Capital Markets & ) Tj ET Q q 0 0 0 rg BT 352.15 276.10 Td (Advisory \(Hong Kong\) Limited, is licensed to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 264.10 Td (conduct certain securities-related activities, and is subject to regulation by the Hong Kong Securities and Futures Commission. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 252.10 Td (Certain of our entities that undertake pension scheme management are subject to MiFID \(Markets in Financial Instruments ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 240.10 Td (Directive\) and are authorized and regulated by certain financial services authorities in countries such as Sweden, Ireland, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 228.10 Td (Netherlands and the U.K.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 151.91 228.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 209.10 Td (All companies carrying on similar activities in a given jurisdiction are subject to regulations which are not dissimilar to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 197.10 Td (requirements for our operations in the United States and United Kingdom. ) Tj ET Q q 0 0 0 rg BT 349.20 197.10 Td (W) Tj ET Q q 0 0 0 rg BT 357.84 197.10 Td (e do not consider these regulatory requirements as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 185.10 Td (adversely af) Tj ET Q q 0 0 0 rg BT 98.40 185.10 Td (fecting our competitive position.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 228.93 185.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 166.10 Td (Across all geographies we are subject to various data privacy regulations that apply to medical, financial and other types of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 154.10 Td (personal information belonging to our clients, their employees and third parties, as well as our own employees.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.06 154.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 135.10 Td (Our failure, or that of our employees, to satisfy the regulatory compliance requirements or the legal requirements governing our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 123.10 Td (activities, can result in disciplinary action, fines, reputational damage and financial harm.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.37 123.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 104.10 Td (See ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.94 104.10 Td (PartI, Item1A-Risk Factors) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 180.53 104.10 Td ( for an analysis of how actions by regulatory authorities or changes in legislation and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 92.10 Td (regulation in the jurisdictions in which we operate may have an adverse ef) Tj ET Q q 0 0 0 rg BT 346.94 92.10 Td (fect on our business.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.15 92.10 Td ( ) 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 (14) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (Executive Officers of the Registrant) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 721.25 Td (The executive of) Tj ET Q q 0 0 0 rg BT 117.01 721.25 Td (ficers of the Company as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 230.31 721.25 Td (March1, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.91 721.25 Td ( were as follows:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 700.25 Td (Nicolas ) Tj ET Q q 0 0 0 rg BT 83.06 700.25 Td (Aubert \(age 51\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 149.71 700.25 Td ( - Mr) Tj ET Q q 0 0 0 rg BT 169.71 700.25 Td (. ) Tj ET Q q 0 0 0 rg BT 174.16 700.25 Td (Aubert has served as the Head of Great Britain at ) Tj ET Q q 0 0 0 rg BT 373.34 700.25 Td (W) Tj ET Q q 0 0 0 rg BT 382.38 700.25 Td (illis ) Tj ET Q q 0 0 0 rg BT 399.71 700.25 Td (T) Tj ET Q q 0 0 0 rg BT 405.12 700.25 Td (owers ) Tj ET Q q 0 0 0 rg BT 431.32 700.25 Td (W) Tj ET Q q 0 0 0 rg BT 439.96 700.25 Td (atson since January 4, 2016, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 688.25 Td (and as the CEO of ) Tj ET Q q 0 0 0 rg BT 125.63 688.25 Td (W) Tj ET Q q 0 0 0 rg BT 134.67 688.25 Td (illis Limited, the Company) Tj ET Q q 0 0 0 rg BT 245.22 688.25 Td (s U.K. insurance and reinsurance broking subsidiary) Tj ET Q q 0 0 0 rg BT 453.96 688.25 Td (, since September 30, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 676.25 Td (2015. Prior to his appointment as the Head of Great Britain, Mr) Tj ET Q q 0 0 0 rg BT 303.56 676.25 Td (. ) Tj ET Q q 0 0 0 rg BT 308.01 676.25 Td (Aubert served as CEO of ) Tj ET Q q 0 0 0 rg BT 410.86 676.25 Td (W) Tj ET Q q 0 0 0 rg BT 419.90 676.25 Td (illis GB, the operating segment of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 664.25 Td (W) Tj ET Q q 0 0 0 rg BT 59.04 664.25 Td (illis Group Holdings that included ) Tj ET Q q 0 0 0 rg BT 198.01 664.25 Td (W) Tj ET Q q 0 0 0 rg BT 207.05 664.25 Td (illis) Tj ET Q q 0 0 0 rg BT 224.64 664.25 Td ( London specialty businesses and facultative business, and the retail insurance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 652.25 Td (business in Great Britain since January 2015. Since March 2016, Mr) Tj ET Q q 0 0 0 rg BT 323.28 652.25 Td (. ) Tj ET Q q 0 0 0 rg BT 327.73 652.25 Td (Aubert has served as the Chairman of the London Market ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 640.25 Td (Group \(LMG\), a professional body representing the common interests of the London Insurance Market operators, Lloyd) Tj ET Q q 0 0 0 rg BT 533.48 640.25 Td (s of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 628.25 Td (London, IUA, LIIBA) Tj ET Q q 0 0 0 rg BT 134.99 628.25 Td ( and LMA. Prior to joining ) Tj ET Q q 0 0 0 rg BT 245.08 628.25 Td (W) Tj ET Q q 0 0 0 rg BT 254.12 628.25 Td (illis, Mr) Tj ET Q q 0 0 0 rg BT 285.80 628.25 Td (. ) Tj ET Q q 0 0 0 rg BT 290.24 628.25 Td (Aubert served as the Chief Operating Of) Tj ET Q q 0 0 0 rg BT 452.23 628.25 Td (ficer of ) Tj ET Q q 0 0 0 rg BT 483.33 628.25 Td (American ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 616.25 Td (International Group \(AIG\) in Europe, the Middle East and ) Tj ET Q q 0 0 0 rg BT 284.94 616.25 Td (Africa, and formerly as the Managing Director of ) Tj ET Q q 0 0 0 rg BT 484.58 616.25 Td (AIG in the U.K. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 604.25 Td (After joining ) Tj ET Q q 0 0 0 rg BT 103.88 604.25 Td (AIG in June 2002 to lead ) Tj ET Q q 0 0 0 rg BT 206.65 604.25 Td (AIG France, Mr) Tj ET Q q 0 0 0 rg BT 270.80 604.25 Td (. ) Tj ET Q q 0 0 0 rg BT 275.24 604.25 Td (Aubert served in various other senior management positions, including ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 592.25 Td (Managing Director of Southern Europe, where he oversaw operations in 12 countries, including Israel. Prior to ) Tj ET Q q 0 0 0 rg BT 495.16 592.25 Td (AIG, Mr) Tj ET Q q 0 0 0 rg BT 529.60 592.25 Td (. ) Tj ET Q q 0 0 0 rg BT 534.05 592.25 Td (Aubert ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 580.25 Td (worked in various leadership positions at ) Tj ET Q q 0 0 0 rg BT 216.08 580.25 Td (ACE, CIGNA, GAN and started his career at GENERALI. He holds specialized ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 568.25 Td (Masters Degrees in Insurance Law \(DESS ) Tj ET Q q 0 0 0 rg BT 221.06 568.25 Td (Assurances\) from Pantheon-Sorbonne University of Paris and from Institut des ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 556.25 Td (Assurances de Paris \(Universit Paris-Dauphine\) and an M.B.A. from the French High Insurance Studies Center \(CHEA\).) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 535.25 Td (Anne D. Bodnar) Tj ET Q q 0 0 0 rg BT 119.56 535.25 Td ( \(age 60\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 158.15 535.25 Td (- Ms. Bodnar has served as the Chief Human Resources Of) Tj ET Q q 0 0 0 rg BT 394.31 535.25 Td (ficer at ) Tj ET Q q 0 0 0 rg BT 424.66 535.25 Td (W) Tj ET Q q 0 0 0 rg BT 433.70 535.25 Td (illis ) Tj ET Q q 0 0 0 rg BT 451.02 535.25 Td (T) Tj ET Q q 0 0 0 rg BT 456.43 535.25 Td (owers ) Tj ET Q q 0 0 0 rg BT 482.63 535.25 Td (W) Tj ET Q q 0 0 0 rg BT 491.27 535.25 Td (atson since ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 523.25 Td (January 4, 2016. Previously) Tj ET Q q 0 0 0 rg BT 163.23 523.25 Td (, Ms.Bodnar served on ) Tj ET Q q 0 0 0 rg BT 258.87 523.25 Td (T) Tj ET Q q 0 0 0 rg BT 264.28 523.25 Td (owers ) Tj ET Q q 0 0 0 rg BT 290.48 523.25 Td (W) Tj ET Q q 0 0 0 rg BT 299.12 523.25 Td (atson) Tj ET Q q 0 0 0 rg BT 323.00 523.25 Td (s Management Committee since January 2015, and as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 511.25 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 511.25 Td (owers ) Tj ET Q q 0 0 0 rg BT 81.61 511.25 Td (W) Tj ET Q q 0 0 0 rg BT 90.25 511.25 Td (atson) Tj ET Q q 0 0 0 rg BT 114.14 511.25 Td (s Chief ) Tj ET Q q 0 0 0 rg BT 144.69 511.25 Td (Administrative Of) Tj ET Q q 0 0 0 rg BT 217.55 511.25 Td (ficer since January1, 2010. Ms. Bodnar previously served as Managing Director of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 499.25 Td (HR at ) Tj ET Q q 0 0 0 rg BT 75.93 499.25 Td (T) Tj ET Q q 0 0 0 rg BT 81.34 499.25 Td (owers Perrin beginning in 2001. From 1995 to 2000, Ms.Bodnar led ) Tj ET Q q 0 0 0 rg BT 361.14 499.25 Td (T) Tj ET Q q 0 0 0 rg BT 366.55 499.25 Td (owers Perrin) Tj ET Q q 0 0 0 rg BT 420.15 499.25 Td (s recruiting and learning and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 487.25 Td (development ef) Tj ET Q q 0 0 0 rg BT 111.74 487.25 Td (forts. Prior to that, she was a strategy consultant in ) Tj ET Q q 0 0 0 rg BT 316.52 487.25 Td (T) Tj ET Q q 0 0 0 rg BT 321.93 487.25 Td (owers Perrin) Tj ET Q q 0 0 0 rg BT 375.53 487.25 Td (s Human Capital business. Earlier in her ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 475.25 Td (career) Tj ET Q q 0 0 0 rg BT 74.01 475.25 Td (, Ms.Bodnar held several operational and strategic planning roles at what is now JPMor) Tj ET Q q 0 0 0 rg BT 426.53 475.25 Td (gan Chase. ) Tj ET Q q 0 0 0 rg BT 474.86 475.25 Td (Additionally) Tj ET Q q 0 0 0 rg BT 524.76 475.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 463.25 Td (Ms.Bodnar published a chapter entitled HR as a Strategic Partner in Human Resources Leadership Strategies: Fifteen ) Tj ET Q q 0 0 0 rg BT 533.01 463.25 Td (W) Tj ET Q q 0 0 0 rg BT 541.65 463.25 Td (ays ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 451.25 Td (to Enhance HR ) Tj ET Q q 0 0 0 rg BT 113.41 451.25 Td (V) Tj ET Q q 0 0 0 rg BT 119.53 451.25 Td (alue in ) Tj ET Q q 0 0 0 rg BT 148.59 451.25 Td (Y) Tj ET Q q 0 0 0 rg BT 154.81 451.25 Td (our Company) Tj ET Q q 0 0 0 rg BT 208.88 451.25 Td (. She was elected to the ) Tj ET Q q 0 0 0 rg BT 304.86 451.25 Td (YWCA) Tj ET Q q 0 0 0 rg BT 334.31 451.25 Td () Tj ET Q q 0 0 0 rg BT 337.08 451.25 Td (s ) Tj ET Q q 0 0 0 rg BT 342.92 451.25 Td (Academy of ) Tj ET Q q 0 0 0 rg BT 394.39 451.25 Td (W) Tj ET Q q 0 0 0 rg BT 403.03 451.25 Td (omen ) Tj ET Q q 0 0 0 rg BT 427.19 451.25 Td (Achievers in 1999. Ms.Bodnar ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 439.25 Td (graduated cum laude and Phi Beta Kappa from Smith College and has an M.B.A. from Harvard Business School.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 418.25 Td (Matthew S. Furman \(age 47\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 172.48 418.25 Td ( - Mr) Tj ET Q q 0 0 0 rg BT 192.48 418.25 Td (.Furman has served as General Counsel at ) Tj ET Q q 0 0 0 rg BT 365.31 418.25 Td (W) Tj ET Q q 0 0 0 rg BT 374.35 418.25 Td (illis ) Tj ET Q q 0 0 0 rg BT 391.67 418.25 Td (T) Tj ET Q q 0 0 0 rg BT 397.08 418.25 Td (owers ) Tj ET Q q 0 0 0 rg BT 423.28 418.25 Td (W) Tj ET Q q 0 0 0 rg BT 431.92 418.25 Td (atson since January 4, 2016. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.25 Td (Previously) Tj ET Q q 0 0 0 rg BT 92.13 406.25 Td (, Mr) Tj ET Q q 0 0 0 rg BT 108.80 406.25 Td (. Furman served as Executive ) Tj ET Q q 0 0 0 rg BT 229.14 406.25 Td (V) Tj ET Q q 0 0 0 rg BT 235.76 406.25 Td (ice President and Group General Counsel at ) Tj ET Q q 0 0 0 rg BT 413.58 406.25 Td (W) Tj ET Q q 0 0 0 rg BT 422.62 406.25 Td (illis Group Holdings, where he ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.25 Td (was a member of the Operating Committee since ) Tj ET Q q 0 0 0 rg BT 247.72 394.25 Td (April 2015. From 2007 until March 2015, Mr) Tj ET Q q 0 0 0 rg BT 431.60 394.25 Td (.Furman was Senior ) Tj ET Q q 0 0 0 rg BT 516.69 394.25 Td (V) Tj ET Q q 0 0 0 rg BT 523.31 394.25 Td (ice ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.25 Td (President, Group General Counsel-Corporate and Governance, and Corporate Secretary for ) Tj ET Q q 0 0 0 rg BT 416.91 382.25 Td (The ) Tj ET Q q 0 0 0 rg BT 434.78 382.25 Td (T) Tj ET Q q 0 0 0 rg BT 440.53 382.25 Td (ravelers Companies, Inc. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.25 Td (From 2000 until 2007, Mr) Tj ET Q q 0 0 0 rg BT 154.17 370.25 Td (.Furman was an attorney at Goldman, Sachs& Co. in New ) Tj ET Q q 0 0 0 rg BT 394.04 370.25 Td (Y) Tj ET Q q 0 0 0 rg BT 400.26 370.25 Td (ork, where he was ) Tj ET Q q 0 0 0 rg BT 475.33 370.25 Td (V) Tj ET Q q 0 0 0 rg BT 481.95 370.25 Td (ice President and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.25 Td (Associate General Counsel in the finance and corporate legal group. Prior to that, he was in private practice, with almost six ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.25 Td (years) Tj ET Q q 0 0 0 rg BT 73.69 346.25 Td ( experience at Simpson ) Tj ET Q q 0 0 0 rg BT 169.03 346.25 Td (Thacher& Bartlett in New ) Tj ET Q q 0 0 0 rg BT 278.34 346.25 Td (Y) Tj ET Q q 0 0 0 rg BT 284.57 346.25 Td (ork. Mr) Tj ET Q q 0 0 0 rg BT 317.07 346.25 Td (.Furman also serves as a Director of the Legal ) Tj ET Q q 0 0 0 rg BT 505.62 346.25 Td (Aid Society ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.25 Td (and a member of the U.S. Securities and Exchange Commission) Tj ET Q q 0 0 0 rg BT 309.11 334.25 Td (s Investor ) Tj ET Q q 0 0 0 rg BT 350.22 334.25 Td (Advisory Committee. He holds a bachelor) Tj ET Q q 0 0 0 rg BT 519.44 334.25 Td () Tj ET Q q 0 0 0 rg BT 522.22 334.25 Td (s degree ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.25 Td (from Brown University and a law degree from Harvard Law School.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 301.25 Td (Adam L. Garrard \(age 51\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 165.54 301.25 Td (- Mr) Tj ET Q q 0 0 0 rg BT 183.04 301.25 Td (.Garrard has served as Head of International at ) Tj ET Q q 0 0 0 rg BT 374.44 301.25 Td (W) Tj ET Q q 0 0 0 rg BT 383.48 301.25 Td (illis ) Tj ET Q q 0 0 0 rg BT 400.80 301.25 Td (T) Tj ET Q q 0 0 0 rg BT 406.21 301.25 Td (owers ) Tj ET Q q 0 0 0 rg BT 432.41 301.25 Td (W) Tj ET Q q 0 0 0 rg BT 441.05 301.25 Td (atson since January 4, 2016. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 289.25 Td (Previously) Tj ET Q q 0 0 0 rg BT 92.13 289.25 Td (, Mr) Tj ET Q q 0 0 0 rg BT 108.80 289.25 Td (. Garrard served as Chief Executive Of) Tj ET Q q 0 0 0 rg BT 264.38 289.25 Td (ficer for ) Tj ET Q q 0 0 0 rg BT 299.18 289.25 Td (W) Tj ET Q q 0 0 0 rg BT 308.22 289.25 Td (illis Group Holdings in ) Tj ET Q q 0 0 0 rg BT 402.67 289.25 Td (Asia since September 2012. Prior to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 277.25 Td (that, Mr) Tj ET Q q 0 0 0 rg BT 81.67 277.25 Td (. Garrard served as Chief Executive Of) Tj ET Q q 0 0 0 rg BT 237.25 277.25 Td (ficer for ) Tj ET Q q 0 0 0 rg BT 272.05 277.25 Td (W) Tj ET Q q 0 0 0 rg BT 281.08 277.25 Td (illis in Europe since January 2009, Chief Executive Of) Tj ET Q q 0 0 0 rg BT 499.46 277.25 Td (ficer for ) Tj ET Q q 0 0 0 rg BT 534.25 277.25 Td (W) Tj ET Q q 0 0 0 rg BT 543.29 277.25 Td (illis ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 265.25 Td (in ) Tj ET Q q 0 0 0 rg BT 59.73 265.25 Td (Australasia since May 2005 and Chief Executive Of) Tj ET Q q 0 0 0 rg BT 268.10 265.25 Td (ficer for ) Tj ET Q q 0 0 0 rg BT 302.52 265.25 Td (Asia since January 2002. Mr) Tj ET Q q 0 0 0 rg BT 419.17 265.25 Td (. Garrard has resided in Singapore, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 253.25 Td (Shanghai, Sydney and London while undertaking his Chief Executive Of) Tj ET Q q 0 0 0 rg BT 341.98 253.25 Td (ficer roles. ) Tj ET Q q 0 0 0 rg BT 389.18 253.25 Td (After graduating from De Montfort ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 241.25 Td (University with a bachelor) Tj ET Q q 0 0 0 rg BT 156.73 241.25 Td () Tj ET Q q 0 0 0 rg BT 159.51 241.25 Td (s degree in Business ) Tj ET Q q 0 0 0 rg BT 242.83 241.25 Td (Administration in 1992, Mr) Tj ET Q q 0 0 0 rg BT 352.83 241.25 Td (.Garrard joined SBJ Stephenson Insurance Brokers ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 229.25 Td (before joining ) Tj ET Q q 0 0 0 rg BT 108.69 229.25 Td (W) Tj ET Q q 0 0 0 rg BT 117.73 229.25 Td (illis in 1994.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 208.25 Td (Julie J. Gebauer) Tj ET Q q 0 0 0 rg BT 120.09 208.25 Td ( \(age 55\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 158.69 208.25 Td (- Ms.Gebauer has served as Head of Human Capital & Benefits at ) Tj ET Q q 0 0 0 rg BT 427.32 208.25 Td (W) Tj ET Q q 0 0 0 rg BT 436.36 208.25 Td (illis ) Tj ET Q q 0 0 0 rg BT 453.68 208.25 Td (T) Tj ET Q q 0 0 0 rg BT 459.09 208.25 Td (owers ) Tj ET Q q 0 0 0 rg BT 485.29 208.25 Td (W) Tj ET Q q 0 0 0 rg BT 493.93 208.25 Td (atson since ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 196.25 Td (January 4, 2016. Previously) Tj ET Q q 0 0 0 rg BT 163.23 196.25 Td (, Ms. Gebauer served as Managing Director of ) Tj ET Q q 0 0 0 rg BT 351.32 196.25 Td (T) Tj ET Q q 0 0 0 rg BT 356.73 196.25 Td (owers ) Tj ET Q q 0 0 0 rg BT 382.93 196.25 Td (W) Tj ET Q q 0 0 0 rg BT 391.57 196.25 Td (atson) Tj ET Q q 0 0 0 rg BT 415.45 196.25 Td (s ) Tj ET Q q 0 0 0 rg BT 421.67 196.25 Td (T) Tj ET Q q 0 0 0 rg BT 427.08 196.25 Td (alent and Rewards business ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 184.25 Td (segment since January1, 2010. Beginning in 2002, Ms. Gebauer served as a Managing Director of ) Tj ET Q q 0 0 0 rg BT 449.44 184.25 Td (T) Tj ET Q q 0 0 0 rg BT 454.85 184.25 Td (owers Perrin and led ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 172.25 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 172.25 Td (owers Perrin) Tj ET Q q 0 0 0 rg BT 109.01 172.25 Td (s global ) Tj ET Q q 0 0 0 rg BT 142.71 172.25 Td (W) Tj ET Q q 0 0 0 rg BT 151.35 172.25 Td (orkforce Ef) Tj ET Q q 0 0 0 rg BT 196.98 172.25 Td (fectiveness Practice and the global ) Tj ET Q q 0 0 0 rg BT 337.57 172.25 Td (T) Tj ET Q q 0 0 0 rg BT 342.98 172.25 Td (owers Perrin-International Survey Research ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 160.25 Td (Corporation line of business. Ms.Gebauer was a member of ) Tj ET Q q 0 0 0 rg BT 293.10 160.25 Td (T) Tj ET Q q 0 0 0 rg BT 298.51 160.25 Td (owers Perrin) Tj ET Q q 0 0 0 rg BT 352.10 160.25 Td (s Board of Directors from 2003 through 2006. She ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 148.25 Td (joined ) Tj ET Q q 0 0 0 rg BT 77.31 148.25 Td (T) Tj ET Q q 0 0 0 rg BT 82.72 148.25 Td (owers Perrin in 1986 as a consultant and held several leadership positions at ) Tj ET Q q 0 0 0 rg BT 389.41 148.25 Td (T) Tj ET Q q 0 0 0 rg BT 394.82 148.25 Td (owers Perrin, serving as the Managing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 136.25 Td (Principal for the New ) Tj ET Q q 0 0 0 rg BT 138.49 136.25 Td (Y) Tj ET Q q 0 0 0 rg BT 144.71 136.25 Td (ork of) Tj ET Q q 0 0 0 rg BT 168.69 136.25 Td (fice from 1999 to 2001 and the U.S. East Region Leader for the Human Capital Group from 2002 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 124.25 Td (to 2006. Ms. Gebauer is a Fellow of the Society of ) Tj ET Q q 0 0 0 rg BT 254.14 124.25 Td (Actuaries. Ms.Gebauer graduated Phi Beta Kappa and with high distinction ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 112.25 Td (from the University of Nebraska-Lincoln with a bachelor) Tj ET Q q 0 0 0 rg BT 278.91 112.25 Td () Tj ET Q q 0 0 0 rg BT 281.68 112.25 Td (s degree in Mathematics, and was designated a Chancellor) Tj ET Q q 0 0 0 rg BT 515.59 112.25 Td () Tj ET Q q 0 0 0 rg BT 518.36 112.25 Td (s Scholar) Tj ET Q q 0 0 0 rg BT 554.75 112.25 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 91.25 Td (Joseph Gunn \(age 46\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.51 91.25 Td ( - Mr) Tj ET Q q 0 0 0 rg BT 162.51 91.25 Td (. Gunn has served as the Head of North ) Tj ET Q q 0 0 0 rg BT 321.92 91.25 Td (America at ) Tj ET Q q 0 0 0 rg BT 368.38 91.25 Td (W) Tj ET Q q 0 0 0 rg BT 377.42 91.25 Td (illis ) Tj ET Q q 0 0 0 rg BT 394.74 91.25 Td (T) Tj ET Q q 0 0 0 rg BT 400.15 91.25 Td (owers ) Tj ET Q q 0 0 0 rg BT 426.35 91.25 Td (W) Tj ET Q q 0 0 0 rg BT 434.99 91.25 Td (atson since October 27, 2016. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 79.25 Td (Previously) Tj ET Q q 0 0 0 rg BT 92.13 79.25 Td (, Mr) Tj ET Q q 0 0 0 rg BT 108.80 79.25 Td (. Gunn served as the regional director for the Northeast region of ) Tj ET Q q 0 0 0 rg BT 370.47 79.25 Td (W) Tj ET Q q 0 0 0 rg BT 379.51 79.25 Td (illis ) Tj ET Q q 0 0 0 rg BT 396.84 79.25 Td (T) Tj ET Q q 0 0 0 rg BT 402.25 79.25 Td (owers ) Tj ET Q q 0 0 0 rg BT 428.45 79.25 Td (W) Tj ET Q q 0 0 0 rg BT 437.08 79.25 Td (atson where he led the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 67.25 Td (business in both Metro New ) Tj ET Q q 0 0 0 rg BT 164.90 67.25 Td (Y) Tj ET Q q 0 0 0 rg BT 171.12 67.25 Td (ork and New England since January 4, 2016. Prior to that, Mr) Tj ET Q q 0 0 0 rg BT 419.68 67.25 Td (. Gunn served as the National ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 55.25 Td (Partner for the Northeast Region at ) Tj ET Q q 0 0 0 rg BT 192.55 55.25 Td (W) Tj ET Q q 0 0 0 rg BT 201.59 55.25 Td (illis North ) Tj ET Q q 0 0 0 rg BT 244.38 55.25 Td (America since July 2009, and before that, as the Chief Growth Of) Tj ET Q q 0 0 0 rg BT 507.17 55.25 Td (ficer for ) 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 (15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (W) Tj ET Q q 0 0 0 rg BT 59.04 742.10 Td (illis North ) Tj ET Q q 0 0 0 rg BT 101.82 742.10 Td (America and regional executive of) Tj ET Q q 0 0 0 rg BT 239.91 742.10 Td (ficer for the South Central region of ) Tj ET Q q 0 0 0 rg BT 386.07 742.10 Td (W) Tj ET Q q 0 0 0 rg BT 395.11 742.10 Td (illis North ) Tj ET Q q 0 0 0 rg BT 437.89 742.10 Td (America since ) Tj ET Q q 0 0 0 rg BT 497.31 742.10 Td (August 2006. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (Before joining ) Tj ET Q q 0 0 0 rg BT 110.36 730.10 Td (W) Tj ET Q q 0 0 0 rg BT 119.40 730.10 Td (illis in 2004, Mr) Tj ET Q q 0 0 0 rg BT 183.85 730.10 Td (. Gunn led the Marsh Client Development team for the North ) Tj ET Q q 0 0 0 rg BT 430.83 730.10 Td (T) Tj ET Q q 0 0 0 rg BT 436.25 730.10 Td (exas operations and served as a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (senior relationship of) Tj ET Q q 0 0 0 rg BT 134.80 718.10 Td (ficer on several lar) Tj ET Q q 0 0 0 rg BT 209.30 718.10 Td (ge accounts. Mr) Tj ET Q q 0 0 0 rg BT 275.39 718.10 Td (. Gunn serves as a member of the board of trustees of Big Brothers Big ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (Sisters of New ) Tj ET Q q 0 0 0 rg BT 111.01 706.10 Td (Y) Tj ET Q q 0 0 0 rg BT 117.23 706.10 Td (ork. He holds a bachelor) Tj ET Q q 0 0 0 rg BT 218.13 706.10 Td () Tj ET Q q 0 0 0 rg BT 220.90 706.10 Td (s degree in Political Science from Florida State University) Tj ET Q q 0 0 0 rg BT 453.53 706.10 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 685.10 Td (John J. Haley \(age 67\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 147.22 685.10 Td (- Mr) Tj ET Q q 0 0 0 rg BT 164.72 685.10 Td (.Haley has served as Chief Executive Of) Tj ET Q q 0 0 0 rg BT 328.92 685.10 Td (ficer and Director at ) Tj ET Q q 0 0 0 rg BT 412.03 685.10 Td (W) Tj ET Q q 0 0 0 rg BT 421.06 685.10 Td (illis ) Tj ET Q q 0 0 0 rg BT 438.39 685.10 Td (T) Tj ET Q q 0 0 0 rg BT 443.80 685.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 470.00 685.10 Td (W) Tj ET Q q 0 0 0 rg BT 478.64 685.10 Td (atson since January ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 673.10 Td (4, 2016. Previously) Tj ET Q q 0 0 0 rg BT 129.63 673.10 Td (, Mr) Tj ET Q q 0 0 0 rg BT 146.30 673.10 Td (. Haley served as the Chief Executive Of) Tj ET Q q 0 0 0 rg BT 309.39 673.10 Td (ficer and Chairman of the Board of Directors of ) Tj ET Q q 0 0 0 rg BT 502.75 673.10 Td (T) Tj ET Q q 0 0 0 rg BT 508.16 673.10 Td (owers ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 661.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 661.10 Td (atson since January1, 2010, and as President since October 3, 201) Tj ET Q q 0 0 0 rg BT 323.76 661.10 Td (1. Prior to that, Mr) Tj ET Q q 0 0 0 rg BT 400.70 661.10 Td (. Haley served as President and Chief ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 649.10 Td (Executive Of) Tj ET Q q 0 0 0 rg BT 102.85 649.10 Td (ficer of ) Tj ET Q q 0 0 0 rg BT 134.32 649.10 Td (W) Tj ET Q q 0 0 0 rg BT 142.95 649.10 Td (atson ) Tj ET Q q 0 0 0 rg BT 166.38 649.10 Td (W) Tj ET Q q 0 0 0 rg BT 175.22 649.10 Td (yatt beginning on January1, 1999, as Chairman of the Board of ) Tj ET Q q 0 0 0 rg BT 432.21 649.10 Td (W) Tj ET Q q 0 0 0 rg BT 440.84 649.10 Td (atson ) Tj ET Q q 0 0 0 rg BT 464.27 649.10 Td (W) Tj ET Q q 0 0 0 rg BT 473.11 649.10 Td (yatt beginning in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 637.10 Td (1999 and as a director of ) Tj ET Q q 0 0 0 rg BT 151.45 637.10 Td (W) Tj ET Q q 0 0 0 rg BT 160.09 637.10 Td (atson ) Tj ET Q q 0 0 0 rg BT 183.52 637.10 Td (W) Tj ET Q q 0 0 0 rg BT 192.35 637.10 Td (yatt beginning in 1992. Mr) Tj ET Q q 0 0 0 rg BT 299.29 637.10 Td (.Haley joined ) Tj ET Q q 0 0 0 rg BT 357.98 637.10 Td (W) Tj ET Q q 0 0 0 rg BT 366.62 637.10 Td (atson ) Tj ET Q q 0 0 0 rg BT 390.05 637.10 Td (W) Tj ET Q q 0 0 0 rg BT 398.89 637.10 Td (yatt in 1977. Prior to becoming ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 625.10 Td (President and Chief Executive Of) Tj ET Q q 0 0 0 rg BT 184.22 625.10 Td (ficer of ) Tj ET Q q 0 0 0 rg BT 215.69 625.10 Td (W) Tj ET Q q 0 0 0 rg BT 224.33 625.10 Td (atson ) Tj ET Q q 0 0 0 rg BT 247.75 625.10 Td (W) Tj ET Q q 0 0 0 rg BT 256.59 625.10 Td (yatt, he was the Global Director of the Benefits Group at ) Tj ET Q q 0 0 0 rg BT 485.79 625.10 Td (W) Tj ET Q q 0 0 0 rg BT 494.42 625.10 Td (atson ) Tj ET Q q 0 0 0 rg BT 517.85 625.10 Td (W) Tj ET Q q 0 0 0 rg BT 526.69 625.10 Td (yatt. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 613.10 Td (Mr) Tj ET Q q 0 0 0 rg BT 61.67 613.10 Td (.Haley is a Fellow of the Society of ) Tj ET Q q 0 0 0 rg BT 207.75 613.10 Td (Actuaries, and a member of the ) Tj ET Q q 0 0 0 rg BT 335.21 613.10 Td (American ) Tj ET Q q 0 0 0 rg BT 376.58 613.10 Td (Academy of ) Tj ET Q q 0 0 0 rg BT 427.67 613.10 Td (Actuaries and the Conference of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 601.10 Td (Consulting ) Tj ET Q q 0 0 0 rg BT 95.84 601.10 Td (Actuaries. He is also a co-author of Fundamentals of Private Pensions \(University of Pennsylvania Press\). ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 589.10 Td (Mr) Tj ET Q q 0 0 0 rg BT 61.67 589.10 Td (.Haley also serves on the board of MAXIMUS, Inc., a provider of health and human services program management, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 577.10 Td (consulting services and system solutions, and previously served on the board of Hudson Global, Inc., an executive search, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 565.10 Td (specialty staf) Tj ET Q q 0 0 0 rg BT 102.30 565.10 Td (fing and related consulting services firm. He has an ) Tj ET Q q 0 0 0 rg BT 310.01 565.10 Td (A.B. in Mathematics from Rutgers College and studied under ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 553.10 Td (a Fellowship at the Graduate School of Mathematics at ) Tj ET Q q 0 0 0 rg BT 272.07 553.10 Td (Y) Tj ET Q q 0 0 0 rg BT 278.29 553.10 Td (ale University) Tj ET Q q 0 0 0 rg BT 334.01 553.10 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 532.10 Td (Carl ) Tj ET Q q 0 0 0 rg BT 71.39 532.10 Td (A. Hess \(age 55\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 139.71 532.10 Td ( - Mr) Tj ET Q q 0 0 0 rg BT 159.71 532.10 Td (.Hess has served as the Head of Investment, Risk and Reinsurance since October 27, 2016. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 520.10 Td (Previously) Tj ET Q q 0 0 0 rg BT 92.13 520.10 Td (, Mr) Tj ET Q q 0 0 0 rg BT 108.80 520.10 Td (. Hess served as the Co-Head of North ) Tj ET Q q 0 0 0 rg BT 264.59 520.10 Td (America at ) Tj ET Q q 0 0 0 rg BT 311.05 520.10 Td (W) Tj ET Q q 0 0 0 rg BT 320.09 520.10 Td (illis ) Tj ET Q q 0 0 0 rg BT 337.42 520.10 Td (T) Tj ET Q q 0 0 0 rg BT 342.83 520.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 369.03 520.10 Td (W) Tj ET Q q 0 0 0 rg BT 377.67 520.10 Td (atson since January 4, 2016. Prior to that, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 508.10 Td (Mr) Tj ET Q q 0 0 0 rg BT 61.67 508.10 Td (. Hess served as Managing Director) Tj ET Q q 0 0 0 rg BT 204.00 508.10 Td (, ) Tj ET Q q 0 0 0 rg BT 208.82 508.10 Td (The ) Tj ET Q q 0 0 0 rg BT 226.32 508.10 Td (Americas of ) Tj ET Q q 0 0 0 rg BT 277.78 508.10 Td (T) Tj ET Q q 0 0 0 rg BT 283.19 508.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 309.39 508.10 Td (W) Tj ET Q q 0 0 0 rg BT 318.03 508.10 Td (atson since February 1, 2014, and before that, he served as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 496.10 Td (the Managing Director of ) Tj ET Q q 0 0 0 rg BT 154.23 496.10 Td (T) Tj ET Q q 0 0 0 rg BT 159.64 496.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 185.84 496.10 Td (W) Tj ET Q q 0 0 0 rg BT 194.48 496.10 Td (atson) Tj ET Q q 0 0 0 rg BT 218.36 496.10 Td (s Investment business since January1, 2010. Before his service at ) Tj ET Q q 0 0 0 rg BT 486.46 496.10 Td (T) Tj ET Q q 0 0 0 rg BT 491.87 496.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 518.07 496.10 Td (W) Tj ET Q q 0 0 0 rg BT 526.70 496.10 Td (atson, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 484.10 Td (Mr) Tj ET Q q 0 0 0 rg BT 61.67 484.10 Td (. Hess worked in a variety of roles for over 20 years at ) Tj ET Q q 0 0 0 rg BT 281.42 484.10 Td (W) Tj ET Q q 0 0 0 rg BT 290.05 484.10 Td (atson ) Tj ET Q q 0 0 0 rg BT 313.48 484.10 Td (W) Tj ET Q q 0 0 0 rg BT 322.32 484.10 Td (yatt, lastly as Global Practice Director of ) Tj ET Q q 0 0 0 rg BT 488.19 484.10 Td (W) Tj ET Q q 0 0 0 rg BT 496.83 484.10 Td (atson ) Tj ET Q q 0 0 0 rg BT 520.26 484.10 Td (W) Tj ET Q q 0 0 0 rg BT 529.10 484.10 Td (yatt) Tj ET Q q 0 0 0 rg BT 546.87 484.10 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 472.10 Td (Investment business. Mr) Tj ET Q q 0 0 0 rg BT 150.00 472.10 Td (.Hess is a Fellow of the Society of ) Tj ET Q q 0 0 0 rg BT 291.65 472.10 Td (Actuaries and the Conference of Consulting ) Tj ET Q q 0 0 0 rg BT 469.38 472.10 Td (Actuaries, and a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 460.10 Td (Chartered Enterprise Risk ) Tj ET Q q 0 0 0 rg BT 155.81 460.10 Td (Analyst. He has a bachelor) Tj ET Q q 0 0 0 rg BT 266.14 460.10 Td () Tj ET Q q 0 0 0 rg BT 268.92 460.10 Td (s degree cum laude in Logic and Language from ) Tj ET Q q 0 0 0 rg BT 464.86 460.10 Td (Y) Tj ET Q q 0 0 0 rg BT 471.08 460.10 Td (ale University) Tj ET Q q 0 0 0 rg BT 526.80 460.10 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 439.10 Td (T) Tj ET Q q 0 0 0 rg BT 55.75 439.10 Td (odd Jones \(age 52\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 134.37 439.10 Td ( - Mr) Tj ET Q q 0 0 0 rg BT 154.37 439.10 Td (.Jones has served as the Head of Corporate Risk and Broking since October 27, 2016. Previously) Tj ET Q q 0 0 0 rg BT 546.42 439.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 427.10 Td (Mr) Tj ET Q q 0 0 0 rg BT 61.67 427.10 Td (. Jones served as the Co-Head of North ) Tj ET Q q 0 0 0 rg BT 220.24 427.10 Td (America at ) Tj ET Q q 0 0 0 rg BT 266.70 427.10 Td (W) Tj ET Q q 0 0 0 rg BT 275.74 427.10 Td (illis ) Tj ET Q q 0 0 0 rg BT 293.07 427.10 Td (T) Tj ET Q q 0 0 0 rg BT 298.48 427.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 324.68 427.10 Td (W) Tj ET Q q 0 0 0 rg BT 333.32 427.10 Td (atson since January 4, 2016. Prior to that, Mr) Tj ET Q q 0 0 0 rg BT 515.51 427.10 Td (. Jones ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 415.10 Td (served as an executive of) Tj ET Q q 0 0 0 rg BT 150.33 415.10 Td (ficer and Chief Executive Of) Tj ET Q q 0 0 0 rg BT 265.65 415.10 Td (ficer of ) Tj ET Q q 0 0 0 rg BT 297.11 415.10 Td (W) Tj ET Q q 0 0 0 rg BT 306.15 415.10 Td (illis North ) Tj ET Q q 0 0 0 rg BT 348.94 415.10 Td (America since July1, 2013. Mr) Tj ET Q q 0 0 0 rg BT 477.25 415.10 Td (.Jones joined ) Tj ET Q q 0 0 0 rg BT 534.28 415.10 Td (W) Tj ET Q q 0 0 0 rg BT 543.32 415.10 Td (illis ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 403.10 Td (in 2003 as the North ) Tj ET Q q 0 0 0 rg BT 133.60 403.10 Td (American Practice Leader for ) Tj ET Q q 0 0 0 rg BT 254.46 403.10 Td (W) Tj ET Q q 0 0 0 rg BT 263.50 403.10 Td (illis) Tj ET Q q 0 0 0 rg BT 281.09 403.10 Td ( Executive Risks Practice and served as the President of ) Tj ET Q q 0 0 0 rg BT 506.96 403.10 Td (W) Tj ET Q q 0 0 0 rg BT 516.00 403.10 Td (illis North ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 391.10 Td (America from 2010 to 2013. Mr) Tj ET Q q 0 0 0 rg BT 180.81 391.10 Td (.Jones also served as a National Partner for the Northeast Region. 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He holds a bachelor) Tj ET Q q 0 0 0 rg BT 169.69 355.10 Td () Tj ET Q q 0 0 0 rg BT 172.47 355.10 Td (s degree in Business from ) Tj ET Q q 0 0 0 rg BT 278.11 355.10 Td (W) Tj ET Q q 0 0 0 rg BT 286.74 355.10 Td (ake Forest University and an M.B.A. from the Stern School of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 343.10 Td (Business at New ) Tj ET Q q 0 0 0 rg BT 118.79 343.10 Td (Y) Tj ET Q q 0 0 0 rg BT 125.01 343.10 Td (ork University) Tj ET Q q 0 0 0 rg BT 182.41 343.10 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 322.10 Td (Roger) Tj ET Q q 0 0 0 rg BT 75.92 322.10 Td ( F) Tj ET Q q 0 0 0 rg BT 83.61 322.10 Td (. Millay \(age 59\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 152.48 322.10 Td ( - Mr) Tj ET Q q 0 0 0 rg BT 172.48 322.10 Td (.Millay has served as Chief Financial Of) Tj ET Q q 0 0 0 rg BT 336.70 322.10 Td (ficer at ) Tj ET Q q 0 0 0 rg BT 367.06 322.10 Td (W) Tj ET Q q 0 0 0 rg BT 376.09 322.10 Td (illis ) Tj ET Q q 0 0 0 rg BT 393.42 322.10 Td (T) Tj ET Q q 0 0 0 rg BT 398.83 322.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 425.03 322.10 Td (W) Tj ET Q q 0 0 0 rg BT 433.67 322.10 Td (atson since January 4, 2016. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.10 Td (Previously) Tj ET Q q 0 0 0 rg BT 92.13 310.10 Td (, Mr) Tj ET Q q 0 0 0 rg BT 108.80 310.10 Td (. Millay served as ) Tj ET Q q 0 0 0 rg BT 182.21 310.10 Td (V) Tj ET Q q 0 0 0 rg BT 188.83 310.10 Td (ice President and Chief Financial Of) Tj ET Q q 0 0 0 rg BT 334.44 310.10 Td (ficer of ) Tj ET Q q 0 0 0 rg BT 365.91 310.10 Td (T) Tj ET Q q 0 0 0 rg BT 371.32 310.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 397.52 310.10 Td (W) Tj ET Q q 0 0 0 rg BT 406.16 310.10 Td (atson since January1, 2010, and he ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.10 Td (previously held the same position at ) Tj ET Q q 0 0 0 rg BT 196.46 298.10 Td (W) Tj ET Q q 0 0 0 rg BT 205.10 298.10 Td (atson ) Tj ET Q q 0 0 0 rg BT 228.53 298.10 Td (W) Tj ET Q q 0 0 0 rg BT 237.36 298.10 Td (yatt since ) Tj ET Q q 0 0 0 rg BT 277.35 298.10 Td (August 2008. Prior to joining ) Tj ET Q q 0 0 0 rg BT 399.68 298.10 Td (W) Tj ET Q q 0 0 0 rg BT 408.32 298.10 Td (atson ) Tj ET Q q 0 0 0 rg BT 431.74 298.10 Td (W) Tj ET Q q 0 0 0 rg BT 440.58 298.10 Td (yatt, Mr) Tj ET Q q 0 0 0 rg BT 472.25 298.10 Td (.Millay was with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.10 Td (Discovery Communications LLC, a global cable ) Tj ET Q q 0 0 0 rg BT 246.16 286.10 Td (TV) Tj ET Q q 0 0 0 rg BT 259.31 286.10 Td ( programmer and digital media provider) Tj ET Q q 0 0 0 rg BT 419.14 286.10 Td (, where he served as Senior ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.10 Td (Executive ) Tj ET Q q 0 0 0 rg BT 92.30 274.10 Td (V) Tj ET Q q 0 0 0 rg BT 98.92 274.10 Td (ice President and Chief Financial Of) Tj ET Q q 0 0 0 rg BT 244.53 274.10 Td (ficer beginning in 2006. ) Tj ET Q q 0 0 0 rg BT 345.07 274.10 Td (At Discovery) Tj ET Q q 0 0 0 rg BT 398.02 274.10 Td (, he was responsible for the global ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.10 Td (financial functions, including accounting, treasury) Tj ET Q q 0 0 0 rg BT 250.40 262.10 Td (, budgeting, audit and tax. 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Mr) Tj ET Q q 0 0 0 rg BT 517.59 250.10 Td (.Millay ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.10 Td (has over 25 years of experience in financial of) Tj ET Q q 0 0 0 rg BT 234.74 238.10 Td (ficer positions, including roles at ) Tj ET Q q 0 0 0 rg BT 368.05 238.10 Td (Arthur ) Tj ET Q q 0 0 0 rg BT 396.84 238.10 Td (Y) Tj ET Q q 0 0 0 rg BT 403.06 238.10 Td (oung& Company) Tj ET Q q 0 0 0 rg BT 474.07 238.10 Td (, Citigroup, and GE ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.10 Td (Capital. He holds a bachelor) Tj ET Q q 0 0 0 rg BT 166.45 226.10 Td () Tj ET Q q 0 0 0 rg BT 169.22 226.10 Td (s degree from the University of ) Tj ET Q q 0 0 0 rg BT 296.78 226.10 Td (V) Tj ET Q q 0 0 0 rg BT 303.40 226.10 Td (ir) Tj ET Q q 0 0 0 rg BT 309.33 226.10 Td (ginia and a master) Tj ET Q q 0 0 0 rg BT 382.73 226.10 Td () Tj ET Q q 0 0 0 rg BT 385.51 226.10 Td (s degree in ) Tj ET Q q 0 0 0 rg BT 430.77 226.10 Td (Accounting from Geor) Tj ET Q q 0 0 0 rg BT 521.67 226.10 Td (getown ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.10 Td (University) Tj ET Q q 0 0 0 rg BT 95.00 214.10 Td (s Graduate School of Business, and he is a Certified Public ) Tj ET Q q 0 0 0 rg BT 332.73 214.10 Td (Accountant.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 193.10 Td (Paul G. Morris \(age 52\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 150.81 193.10 Td ( - Mr) Tj ET Q q 0 0 0 rg BT 170.81 193.10 Td (.Morris has served as Head of ) Tj ET Q q 0 0 0 rg BT 295.04 193.10 Td (W) Tj ET Q q 0 0 0 rg BT 303.68 193.10 Td (estern Europe at ) Tj ET Q q 0 0 0 rg BT 370.97 193.10 Td (W) Tj ET Q q 0 0 0 rg BT 380.00 193.10 Td (illis ) Tj ET Q q 0 0 0 rg BT 397.33 193.10 Td (T) Tj ET Q q 0 0 0 rg BT 402.74 193.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 428.94 193.10 Td (W) Tj ET Q q 0 0 0 rg BT 437.58 193.10 Td (atson since January 4, 2016. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 181.10 Td (Previously) Tj ET Q q 0 0 0 rg BT 92.13 181.10 Td (, Mr) Tj ET Q q 0 0 0 rg BT 108.80 181.10 Td (. Morris served as Managing Director for ) Tj ET Q q 0 0 0 rg BT 275.79 181.10 Td (T) Tj ET Q q 0 0 0 rg BT 281.20 181.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 307.40 181.10 Td (W) Tj ET Q q 0 0 0 rg BT 316.04 181.10 Td (atson in Europe, the Middle East and ) Tj ET Q q 0 0 0 rg BT 466.01 181.10 Td (Africa since ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 169.10 Td (September1, 201) Tj ET Q q 0 0 0 rg BT 119.89 169.10 Td (1. Prior to that, Mr) Tj ET Q q 0 0 0 rg BT 196.84 169.10 Td (. Morris served as Director) Tj ET Q q 0 0 0 rg BT 303.90 169.10 Td (, Consulting Services, for ) Tj ET Q q 0 0 0 rg BT 408.15 169.10 Td (T) Tj ET Q q 0 0 0 rg BT 413.56 169.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 439.77 169.10 Td (W) Tj ET Q q 0 0 0 rg BT 448.40 169.10 Td (atson beginning January1, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 157.10 Td (2010. Mr) Tj ET Q q 0 0 0 rg BT 89.17 157.10 Td (.Morris served as a Managing Consultant of ) Tj ET Q q 0 0 0 rg BT 269.79 157.10 Td (W) Tj ET Q q 0 0 0 rg BT 278.43 157.10 Td (atson ) Tj ET Q q 0 0 0 rg BT 301.86 157.10 Td (W) Tj ET Q q 0 0 0 rg BT 310.69 157.10 Td (yatt from 2005 until the consummation of the mer) Tj ET Q q 0 0 0 rg BT 510.47 157.10 Td (ger of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 145.10 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 145.10 Td (owers Perrin and ) Tj ET Q q 0 0 0 rg BT 125.49 145.10 Td (W) Tj ET Q q 0 0 0 rg BT 134.13 145.10 Td (atson ) Tj ET Q q 0 0 0 rg BT 157.55 145.10 Td (W) Tj ET Q q 0 0 0 rg BT 166.39 145.10 Td (yatt. He joined ) Tj ET Q q 0 0 0 rg BT 230.36 145.10 Td (The ) Tj ET Q q 0 0 0 rg BT 248.23 145.10 Td (W) Tj ET Q q 0 0 0 rg BT 257.07 145.10 Td (yatt Company in 1988. Following the establishment of the global ) Tj ET Q q 0 0 0 rg BT 522.41 145.10 Td (W) Tj ET Q q 0 0 0 rg BT 531.05 145.10 Td (atson ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 133.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.84 133.10 Td (yatt ) Tj ET Q q 0 0 0 rg BT 76.15 133.10 Td (W) Tj ET Q q 0 0 0 rg BT 84.79 133.10 Td (orldwide alliance in 1995, Mr) Tj ET Q q 0 0 0 rg BT 203.37 133.10 Td (.Morris served as a Senior Consultant of ) Tj ET Q q 0 0 0 rg BT 369.56 133.10 Td (W) Tj ET Q q 0 0 0 rg BT 378.19 133.10 Td (atson ) Tj ET Q q 0 0 0 rg BT 401.62 133.10 Td (W) Tj ET Q q 0 0 0 rg BT 410.46 133.10 Td (yatt Partners from 1995 through 1999 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 121.10 Td (and became a partner in 1999. Mr) Tj ET Q q 0 0 0 rg BT 187.17 121.10 Td (.Morris is a Fellow of the Society of ) Tj ET Q q 0 0 0 rg BT 336.60 121.10 Td (Actuaries, a Member of the Institute of ) Tj ET Q q 0 0 0 rg BT 494.33 121.10 Td (Actuaries, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 109.10 Td (has a bachelor) Tj ET Q q 0 0 0 rg BT 107.56 109.10 Td () Tj ET Q q 0 0 0 rg BT 110.34 109.10 Td (s degree in ) Tj ET Q q 0 0 0 rg BT 155.61 109.10 Td (Applied Mathematics from Harvard College and an M.Sc. in ) Tj ET Q q 0 0 0 rg BT 400.27 109.10 Td (Applied Mathematics from Harvard ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 97.10 Td (Graduate School of ) Tj ET Q q 0 0 0 rg BT 129.70 97.10 Td (Arts and Sciences.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 76.10 Td (Anne Pullum \(age 34\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.00 76.10 Td (- Ms. Pullum has served as the Chief ) Tj ET Q q 0 0 0 rg BT 294.15 76.10 Td (Administrative Of) Tj ET Q q 0 0 0 rg BT 367.01 76.10 Td (ficer and Head of Strategy and Innovation at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 64.10 Td (W) Tj ET Q q 0 0 0 rg BT 59.04 64.10 Td (illis ) Tj ET Q q 0 0 0 rg BT 76.36 64.10 Td (T) Tj ET Q q 0 0 0 rg BT 81.77 64.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 107.97 64.10 Td (W) Tj ET Q q 0 0 0 rg BT 116.61 64.10 Td (atson since October 27, 2016. Beginning on January 4, 2016, Ms. Pullum served as ) Tj ET Q q 0 0 0 rg BT 454.17 64.10 Td (W) Tj ET Q q 0 0 0 rg BT 463.20 64.10 Td (illis ) Tj ET Q q 0 0 0 rg BT 480.53 64.10 Td (T) Tj ET Q q 0 0 0 rg BT 485.94 64.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 512.14 64.10 Td (W) Tj ET Q q 0 0 0 rg BT 520.78 64.10 Td (atson) Tj ET Q q 0 0 0 rg BT 544.66 64.10 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 52.10 Td (Head of Strategy) Tj ET Q q 0 0 0 rg BT 117.10 52.10 Td (, where she has played a key role in determining the Company) Tj ET Q q 0 0 0 rg BT 369.25 52.10 Td (s strategy and worked across all business ) Tj ET Q endstream endobj 33 0 obj <> endobj 34 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (16) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (segments and functional areas. Previously) Tj ET Q q 0 0 0 rg BT 219.86 742.10 Td (, Ms. Pullum served as the Head of Strategy for ) Tj ET Q q 0 0 0 rg BT 412.42 742.10 Td (W) Tj ET Q q 0 0 0 rg BT 421.46 742.10 Td (illis Group since May 2014. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (Before joining ) Tj ET Q q 0 0 0 rg BT 110.36 730.10 Td (W) Tj ET Q q 0 0 0 rg BT 119.40 730.10 Td (illis, Ms. Pullum worked at McKinsey & Company) Tj ET Q q 0 0 0 rg BT 323.47 730.10 Td (, where she served financial services and natural resource ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (clients since October 2010. Prior to that, Ms. Pullum conducted economic research at Greenspan ) Tj ET Q q 0 0 0 rg BT 441.01 718.10 Td (Associates in ) Tj ET Q q 0 0 0 rg BT 496.37 718.10 Td (W) Tj ET Q q 0 0 0 rg BT 505.01 718.10 Td (ashington, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (D.C. and served as an analyst in the Goldman Sachs Equities Division in London. Ms. Pullum holds an M.B.A. from INSEAD ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (and a bachelor) Tj ET Q q 0 0 0 rg BT 108.67 694.10 Td () Tj ET Q q 0 0 0 rg BT 111.45 694.10 Td (s degree in International Economics from Geor) Tj ET Q q 0 0 0 rg BT 299.54 694.10 Td (getown University) Tj ET Q q 0 0 0 rg BT 376.47 694.10 Td (s School of Foreign Service. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 673.10 Td (David Shalders \(age 50\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 151.39 673.10 Td ( - Mr) Tj ET Q q 0 0 0 rg BT 171.39 673.10 Td (.Shalders has served as Operations and ) Tj ET Q q 0 0 0 rg BT 331.72 673.10 Td (T) Tj ET Q q 0 0 0 rg BT 337.13 673.10 Td (echnology Director at ) Tj ET Q q 0 0 0 rg BT 426.64 673.10 Td (W) Tj ET Q q 0 0 0 rg BT 435.68 673.10 Td (illis ) Tj ET Q q 0 0 0 rg BT 453.00 673.10 Td (T) Tj ET Q q 0 0 0 rg BT 458.41 673.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 484.61 673.10 Td (W) Tj ET Q q 0 0 0 rg BT 493.25 673.10 Td (atson since ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 661.10 Td (January 4, 2016. Previously) Tj ET Q q 0 0 0 rg BT 163.23 661.10 Td (, Mr) Tj ET Q q 0 0 0 rg BT 179.90 661.10 Td (. Shalders served as an executive of) Tj ET Q q 0 0 0 rg BT 322.16 661.10 Td (ficer and Group Operations& ) Tj ET Q q 0 0 0 rg BT 444.44 661.10 Td (T) Tj ET Q q 0 0 0 rg BT 449.85 661.10 Td (echnology Director of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 649.10 Td (W) Tj ET Q q 0 0 0 rg BT 59.04 649.10 Td (illis Group Holdings since November4, 2013. Prior to joining ) Tj ET Q q 0 0 0 rg BT 312.45 649.10 Td (W) Tj ET Q q 0 0 0 rg BT 321.49 649.10 Td (illis, Mr) Tj ET Q q 0 0 0 rg BT 353.16 649.10 Td (.Shalders spent over a decade in senior operations ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 637.10 Td (and IT) Tj ET Q q 0 0 0 rg BT 76.20 637.10 Td ( roles at the Royal Bank of Scotland Group, most recently as Global COO for Global Banking and Markets. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 625.10 Td (Mr) Tj ET Q q 0 0 0 rg BT 61.67 625.10 Td (.Shalders also held roles as Head of London& ) Tj ET Q q 0 0 0 rg BT 252.47 625.10 Td (Asia Operations and Head of Derivative Operations for NatW) Tj ET Q q 0 0 0 rg BT 499.36 625.10 Td (est at RBS. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 613.10 Td (Prior to RBS, Mr) Tj ET Q q 0 0 0 rg BT 118.35 613.10 Td (.Shalders held various IT) Tj ET Q q 0 0 0 rg BT 221.20 613.10 Td ( and Operations leadership roles at ) Tj ET Q q 0 0 0 rg BT 361.71 613.10 Td (Accenture, JP) Tj ET Q q 0 0 0 rg BT 416.88 613.10 Td ( Mor) Tj ET Q q 0 0 0 rg BT 436.42 613.10 Td (gan and SG ) Tj ET Q q 0 0 0 rg BT 485.40 613.10 Td (W) Tj ET Q q 0 0 0 rg BT 494.04 613.10 Td (arbur) Tj ET Q q 0 0 0 rg BT 514.96 613.10 Td (g. He has ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 601.10 Td (an M.A. in Geography from Cambridge University and an M.Sc. in Computer Science from ) Tj ET Q q 0 0 0 rg BT 419.74 601.10 Td (The London School of Economics.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 580.10 Td (Gene H. ) Tj ET Q q 0 0 0 rg BT 87.31 580.10 Td (W) Tj ET Q q 0 0 0 rg BT 97.13 580.10 Td (ickes \(age 64\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 154.34 580.10 Td ( - Mr) Tj ET Q q 0 0 0 rg BT 174.34 580.10 Td (. ) Tj ET Q q 0 0 0 rg BT 179.16 580.10 Td (W) Tj ET Q q 0 0 0 rg BT 188.20 580.10 Td (ickes has served as the Head of Exchange Solutions at ) Tj ET Q q 0 0 0 rg BT 407.40 580.10 Td (W) Tj ET Q q 0 0 0 rg BT 416.44 580.10 Td (illis ) Tj ET Q q 0 0 0 rg BT 433.76 580.10 Td (T) Tj ET Q q 0 0 0 rg BT 439.17 580.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 465.37 580.10 Td (W) Tj ET Q q 0 0 0 rg BT 474.01 580.10 Td (atson since ) Tj ET Q q 0 0 0 rg BT 520.11 580.10 Td (April 1, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 568.10 Td (2016. Prior to that, Mr) Tj ET Q q 0 0 0 rg BT 141.94 568.10 Td (. ) Tj ET Q q 0 0 0 rg BT 146.76 568.10 Td (W) Tj ET Q q 0 0 0 rg BT 155.80 568.10 Td (ickes served as an Executive Sponsor of the combined ) Tj ET Q q 0 0 0 rg BT 375.28 568.10 Td (W) Tj ET Q q 0 0 0 rg BT 384.32 568.10 Td (illis ) Tj ET Q q 0 0 0 rg BT 401.64 568.10 Td (T) Tj ET Q q 0 0 0 rg BT 407.05 568.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 433.25 568.10 Td (W) Tj ET Q q 0 0 0 rg BT 441.89 568.10 Td (atson Mer) Tj ET Q q 0 0 0 rg BT 481.98 568.10 Td (ger integration ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 556.10 Td (team since January 4, 2016. Previously) Tj ET Q q 0 0 0 rg BT 205.71 556.10 Td (, he served as the Managing Director of the Benefits business segment of ) Tj ET Q q 0 0 0 rg BT 499.89 556.10 Td (T) Tj ET Q q 0 0 0 rg BT 505.30 556.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 531.50 556.10 Td (W) Tj ET Q q 0 0 0 rg BT 540.14 556.10 Td (atson ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 544.10 Td (from January1, 2010 until the closing of the ) Tj ET Q q 0 0 0 rg BT 230.34 544.10 Td (W) Tj ET Q q 0 0 0 rg BT 239.38 544.10 Td (illis ) Tj ET Q q 0 0 0 rg BT 256.70 544.10 Td (T) Tj ET Q q 0 0 0 rg BT 262.11 544.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 288.32 544.10 Td (W) Tj ET Q q 0 0 0 rg BT 296.95 544.10 Td (atson mer) Tj ET Q q 0 0 0 rg BT 335.93 544.10 Td (ger) Tj ET Q q 0 0 0 rg BT 348.14 544.10 Td (. Prior to that, he served as the Global Director of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 532.10 Td (the Benefits Practice of ) Tj ET Q q 0 0 0 rg BT 145.89 532.10 Td (W) Tj ET Q q 0 0 0 rg BT 154.53 532.10 Td (atson ) Tj ET Q q 0 0 0 rg BT 177.96 532.10 Td (W) Tj ET Q q 0 0 0 rg BT 186.80 532.10 Td (yatt beginning in 2005 and as a member of ) Tj ET Q q 0 0 0 rg BT 360.19 532.10 Td (W) Tj ET Q q 0 0 0 rg BT 368.82 532.10 Td (atson ) Tj ET Q q 0 0 0 rg BT 392.25 532.10 Td (W) Tj ET Q q 0 0 0 rg BT 401.09 532.10 Td (yatt) Tj ET Q q 0 0 0 rg BT 418.86 532.10 Td (s Board of Directors from 2002 to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 520.10 Td (2007. Mr) Tj ET Q q 0 0 0 rg BT 86.67 520.10 Td (.) Tj ET Q q 0 0 0 rg BT 91.49 520.10 Td (W) Tj ET Q q 0 0 0 rg BT 100.53 520.10 Td (ickes was ) Tj ET Q q 0 0 0 rg BT 141.45 520.10 Td (W) Tj ET Q q 0 0 0 rg BT 150.08 520.10 Td (atson ) Tj ET Q q 0 0 0 rg BT 173.51 520.10 Td (W) Tj ET Q q 0 0 0 rg BT 182.35 520.10 Td (yatt) Tj ET Q q 0 0 0 rg BT 200.12 520.10 Td (s Global Retirement Practice Director in 2004 and the U.S. ) Tj ET Q q 0 0 0 rg BT 438.21 520.10 Td (W) Tj ET Q q 0 0 0 rg BT 446.85 520.10 Td (est Division) Tj ET Q q 0 0 0 rg BT 497.69 520.10 Td (s Retirement ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 508.10 Td (Practice Leader from 1997 to 2004. Mr) Tj ET Q q 0 0 0 rg BT 206.34 508.10 Td (.) Tj ET Q q 0 0 0 rg BT 211.16 508.10 Td (W) Tj ET Q q 0 0 0 rg BT 220.20 508.10 Td (ickes joined ) Tj ET Q q 0 0 0 rg BT 270.56 508.10 Td (W) Tj ET Q q 0 0 0 rg BT 279.20 508.10 Td (atson ) Tj ET Q q 0 0 0 rg BT 302.63 508.10 Td (W) Tj ET Q q 0 0 0 rg BT 311.46 508.10 Td (yatt in 1996 as a senior consultant and consulting actuary) Tj ET Q q 0 0 0 rg BT 539.93 508.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 496.10 Td (Prior to joining ) Tj ET Q q 0 0 0 rg BT 113.43 496.10 Td (W) Tj ET Q q 0 0 0 rg BT 122.07 496.10 Td (atson ) Tj ET Q q 0 0 0 rg BT 145.50 496.10 Td (W) Tj ET Q q 0 0 0 rg BT 154.34 496.10 Td (yatt, he spent 18 years with ) Tj ET Q q 0 0 0 rg BT 266.07 496.10 Td (T) Tj ET Q q 0 0 0 rg BT 271.48 496.10 Td (owers Perrin, where he assisted or) Tj ET Q q 0 0 0 rg BT 407.93 496.10 Td (ganizations with welfare, retirement, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 484.10 Td (and executive benefit issues. Mr) Tj ET Q q 0 0 0 rg BT 178.57 484.10 Td (.) Tj ET Q q 0 0 0 rg BT 183.39 484.10 Td (W) Tj ET Q q 0 0 0 rg BT 192.43 484.10 Td (ickes is a Fellow of the Society of ) Tj ET Q q 0 0 0 rg BT 330.19 484.10 Td (Actuaries and a member of the Conference of Consulting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 472.10 Td (Actuaries, and has a B.S. in Mathematics and Economics, an M.S. in Mathematics and an M.S. in Economics, all from Brigham ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 460.10 Td (Y) Tj ET Q q 0 0 0 rg BT 56.22 460.10 Td (oung University) Tj ET Q q 0 0 0 rg BT 120.29 460.10 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 439.10 Td (Board of Dir) Tj ET Q q 0 0 0 rg BT 104.26 439.10 Td (ectors) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.10 Td (A) Tj ET Q q 0 0 0 rg BT 56.67 418.10 Td ( list of the Board of Directors of the Company and their principal occupations is provided below:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 392.6 m 218.5 392.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222.5 392.6 m 390.5 392.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 392.6 m 562.5 392.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 350.6 m 218.5 350.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222.5 350.6 m 390.5 350.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 350.6 m 562.5 350.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 299.6 m 218.5 299.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222.5 299.6 m 390.5 299.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 299.6 m 562.5 299.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 257.6 m 218.5 257.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222.5 257.6 m 390.5 257.6 l s BT /F2 9.00 Tf ET q 0 0 0 rg BT 53.00 397.05 Td (John J. Haley) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 225.00 397.05 Td (Brendan R. ONeill) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 397.00 397.05 Td (Paul Thomas) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 383.86 Td (Chief Executive Officer) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 225.00 383.86 Td (Former CEO of Imperial Chemical) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 225.00 374.86 Td (Industries PLC) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 397.00 383.86 Td (Former CEO of Reynolds Packaging Group) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 53.00 355.05 Td (Anna C. Catalano) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 225.00 355.05 Td (James F. McCann) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 397.00 355.05 Td (Jeffrey W. Ubben) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 341.86 Td (Former Group Vice President, Marketing for) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 332.86 Td (BP plc) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 225.00 341.86 Td (Non-Executive Chairman of Willis Towers) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 225.00 332.86 Td (Watson, Executive Chairman of 1-800-) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 225.00 323.86 Td (Flowers.com) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 397.00 341.86 Td (Founder, CEO and Chief Investment Officer) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 397.00 332.86 Td (of ValueAct Capital) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 53.00 304.05 Td (Victor F. Ganzi) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 225.00 304.05 Td (Jaymin B. Patel) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 397.00 304.05 Td (Wilhelm Zeller) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 290.86 Td (Former President & CEO of The Hearst) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 281.86 Td (Corporation) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 225.00 290.86 Td (President and CEO of Brightstar Corp.) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 397.00 290.86 Td (Former CEO of Hannover Re Group) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 53.00 262.05 Td (Wendy E. Lane) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 225.00 262.05 Td (Linda D. Rabbitt) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 248.86 Td (Chairman of Lane Holdings, Inc.) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 225.00 248.86 Td (Founder, Chairman & CEO of rand*) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 225.00 239.86 Td (construction corporation) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 214.10 Td (ITEM1A. RISK F) Tj ET Q q 0 0 0 rg BT 128.71 214.10 Td (ACT) Tj ET Q q 0 0 0 rg BT 149.64 214.10 Td (ORS ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 193.10 Td (In addition to the factors discussed elsewhere in this ) Tj ET Q q 0 0 0 rg BT 260.79 193.10 Td (Annual Report on Form 10-K, the following are some of the important ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 181.10 Td (factors that could cause our actual results to dif) Tj ET Q q 0 0 0 rg BT 238.64 181.10 Td (fer materially from those projected in any forward-looking statements. ) Tj ET Q q 0 0 0 rg BT 522.81 181.10 Td (These ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 169.10 Td (risk factors should be carefully considered in evaluating our business. ) Tj ET Q q 0 0 0 rg BT 331.13 169.10 Td (The descriptions below are not the only risks and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 157.10 Td (uncertainties that we face. ) Tj ET Q q 0 0 0 rg BT 156.34 157.10 Td (Additional risks and uncertainties that are presently unknown to us could also impair our business ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 145.10 Td (operations, financial condition or results. If any of the risks and uncertainties below or other risks were to occur) Tj ET Q q 0 0 0 rg BT 496.13 145.10 Td (, our business ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 133.10 Td (operations, financial condition or results of operations could be materially and adversely impacted. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 447.93 133.10 Td (W) Tj ET Q q 0 0 0 rg BT 457.75 133.10 Td (ith r) Tj ET Q q 0 0 0 rg BT 476.18 133.10 Td (espect to the tax-) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 121.10 Td (r) Tj ET Q q 0 0 0 rg BT 54.26 121.10 Td (elated consequences of acquisition, ownership and disposal of ordinary shar) Tj ET Q q 0 0 0 rg BT 376.89 121.10 Td (es, you should consult with your) Tj ET Q q 0 0 0 rg BT 513.41 121.10 Td ( own tax ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 109.10 Td (advisors.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 88.06 109.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.56 109.10 Td ( ) Tj ET Q endstream endobj 35 0 obj <> endobj 36 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (17) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (Risks Relating to Integration Following the Merger) Tj ET Q q 0 0 0 rg BT 268.68 742.25 Td ( and Related ) Tj ET Q q 0 0 0 rg BT 324.52 742.25 Td (Actions ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 359.24 742.25 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 721.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.15 721.25 Td (e may fail to realize some or all of the anticipated benefits of the Merger or related actions or those benefits may take ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 709.25 Td (longer to realize than expected. ) Tj ET Q q 0 0 0 rg BT 180.92 709.25 Td (W) Tj ET Q q 0 0 0 rg BT 189.07 709.25 Td (e may also encounter significant dif) Tj ET Q q 0 0 0 rg BT 336.39 709.25 Td (ficulties in integrating the businesses.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 491.69 709.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 688.25 Td (Our ability to realize the anticipated benefits of the Mer) Tj ET Q q 0 0 0 rg BT 272.79 688.25 Td (ger and related actions occurring around the time of the Mer) Tj ET Q q 0 0 0 rg BT 513.62 688.25 Td (ger) Tj ET Q q 0 0 0 rg BT 525.99 688.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 676.25 Td (particularly the Gras Savoye acquisition, depends, to a lar) Tj ET Q q 0 0 0 rg BT 280.86 676.25 Td (ge extent, on our ability to integrate the businesses. ) Tj ET Q q 0 0 0 rg BT 488.13 676.25 Td (The combination ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 664.25 Td (of independent businesses is a complex, costly and time-consuming process. ) Tj ET Q q 0 0 0 rg BT 357.72 664.25 Td (As a result, we have been and will be required to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 652.25 Td (devote significant management attention and resources to integration activities. ) Tj ET Q q 0 0 0 rg BT 369.16 652.25 Td (The integration process may disrupt the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 640.25 Td (businesses and, if implemented inef) Tj ET Q q 0 0 0 rg BT 192.84 640.25 Td (fectively) Tj ET Q q 0 0 0 rg BT 227.17 640.25 Td (, could restrict the realization of the full-expected benefits. ) Tj ET Q q 0 0 0 rg BT 463.84 640.25 Td (The failure to meet the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 628.25 Td (challenges involved in integrating the businesses and to realize the anticipated benefits of the transactions could cause an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 616.25 Td (interruption of, or a loss of momentum in, our activities and could adversely af) Tj ET Q q 0 0 0 rg BT 365.02 616.25 Td (fect our results of operations.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.93 616.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 595.25 Td (In addition, the overall integration may result in material unanticipated problems, expenses, liabilities, competitive responses, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 583.25 Td (loss of client relationships, and diversion of management) Tj ET Q q 0 0 0 rg BT 281.06 583.25 Td (s attention. ) Tj ET Q q 0 0 0 rg BT 327.26 583.25 Td (The dif) Tj ET Q q 0 0 0 rg BT 356.24 583.25 Td (ficulties of combining the operations of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 571.25 Td (companies include, among others: ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 189.13 571.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 550.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 550.25 Td (the diversion of management) Tj ET Q q 0 0 0 rg BT 205.13 550.25 Td (s attention to integration matters; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.82 550.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 529.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 529.25 Td (dif) Tj ET Q q 0 0 0 rg BT 96.93 529.25 Td (ficulties in achieving anticipated cost savings, syner) Tj ET Q q 0 0 0 rg BT 304.75 529.25 Td (gies, business opportunities and growth prospects from the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 517.25 Td (combinations; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.16 517.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 496.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 496.25 Td (dif) Tj ET Q q 0 0 0 rg BT 96.93 496.25 Td (ficulties in the integration of operations and systems; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.33 496.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 475.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 475.25 Td (conforming standards, controls, procedures and accounting and other policies, business cultures and compensation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 463.25 Td (structures between the companies; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.95 463.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 442.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 442.25 Td (dif) Tj ET Q q 0 0 0 rg BT 96.93 442.25 Td (ficulties in the assimilation of employees; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 266.34 442.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 421.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 421.25 Td (dif) Tj ET Q q 0 0 0 rg BT 96.93 421.25 Td (ficulties in managing the expanded operations of a significantly lar) Tj ET Q q 0 0 0 rg BT 364.16 421.25 Td (ger and more complex company;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.79 421.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 400.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 400.25 Td (dif) Tj ET Q q 0 0 0 rg BT 96.93 400.25 Td (ficulties in establishing ef) Tj ET Q q 0 0 0 rg BT 199.78 400.25 Td (fective uniform controls, systems, procedures and policies for the combined company; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.74 400.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 379.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 379.25 Td (challenges in keeping existing clients and obtaining new clients;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.16 379.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 358.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 358.25 Td (challenges in attracting and retaining key personnel; and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.25 358.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 337.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 337.25 Td (challenges in coordinating a geographically dispersed or) Tj ET Q q 0 0 0 rg BT 311.30 337.25 Td (ganization. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.95 337.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 316.25 Td (Many of these factors have been and will continue to be outside of our control and any one of them could result in increased ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 304.25 Td (costs, decreases in the amount of expected revenues and diversion of management) Tj ET Q q 0 0 0 rg BT 381.55 304.25 Td (s time and ener) Tj ET Q q 0 0 0 rg BT 442.18 304.25 Td (gy) Tj ET Q q 0 0 0 rg BT 451.53 304.25 Td (, which could materially ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 292.25 Td (impact our business, financial condition and results of operations. In addition, even if our operations are integrated successfully) Tj ET Q q 0 0 0 rg BT 559.21 292.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 280.25 Td (the full benefits of the transactions may not be realized, including the syner) Tj ET Q q 0 0 0 rg BT 351.11 280.25 Td (gies, cost savings or sales or growth opportunities ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 268.25 Td (that are expected. ) Tj ET Q q 0 0 0 rg BT 122.55 268.25 Td (These benefits may not be achieved within the anticipated time frame, or at all. Further) Tj ET Q q 0 0 0 rg BT 470.36 268.25 Td (, additional ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 256.25 Td (unanticipated costs may be incurred in the integrations. ) Tj ET Q q 0 0 0 rg BT 272.99 256.25 Td (All of these factors could cause dilution to our earnings per share, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 244.25 Td (decrease or delay the expected benefits of the Mer) Tj ET Q q 0 0 0 rg BT 250.83 244.25 Td (ger or the related actions, including the Gras Savoye acquisition, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 232.25 Td (negatively impact the price of our ordinary shares. ) Tj ET Q q 0 0 0 rg BT 253.54 232.25 Td (As a result, we cannot assure you that the Mer) Tj ET Q q 0 0 0 rg BT 438.31 232.25 Td (ger or the Gras Savoye ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 220.25 Td (acquisition will result in the realization of the full benefits anticipated. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.80 220.25 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 199.25 Td (The loss of key colleagues as a result of the Merger or otherwise could damage or result in the loss of client relationships ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 187.25 Td (and could result in such colleagues competing against us. ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 290.03 187.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 166.25 Td (Our success depends on our ability to attract, retain and motivate qualified personnel, including key managers and colleagues. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 154.25 Td (In addition, our success lar) Tj ET Q q 0 0 0 rg BT 157.29 154.25 Td (gely depends upon our colleagues) Tj ET Q q 0 0 0 rg BT 295.40 154.25 Td ( abilities to generate business and provide quality services. In ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 142.25 Td (particular) Tj ET Q q 0 0 0 rg BT 87.91 142.25 Td (, our colleagues) Tj ET Q q 0 0 0 rg BT 153.53 142.25 Td ( business relationships with our clients are a critical element of obtaining and maintaining client ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 130.25 Td (engagements. ) Tj ET Q q 0 0 0 rg BT 107.02 130.25 Td (The uncertainties about the ef) Tj ET Q q 0 0 0 rg BT 225.68 130.25 Td (fect of the Mer) Tj ET Q q 0 0 0 rg BT 285.19 130.25 Td (ger and the related actions may impair our ability to attract, retain ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 118.25 Td (and motivate key personnel. Following the Mer) Tj ET Q q 0 0 0 rg BT 240.06 118.25 Td (ger) Tj ET Q q 0 0 0 rg BT 252.43 118.25 Td (, we have lost colleagues who manage substantial client relationships or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 106.25 Td (possess substantial experience or expertise; if we lose additional colleagues such as those or if we are unable to successfully ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 94.25 Td (attract new talent, it could materially adversely af) Tj ET Q q 0 0 0 rg BT 248.07 94.25 Td (fect our ability to secure and complete engagements, which would materially ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 82.25 Td (adversely af) Tj ET Q q 0 0 0 rg BT 98.40 82.25 Td (fect our results of operations and prospects. In addition, we have experienced intense competition for certain types ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 70.25 Td (of colleagues in the past, including following the Mer) Tj ET Q q 0 0 0 rg BT 264.49 70.25 Td (ger) Tj ET Q q 0 0 0 rg BT 276.86 70.25 Td (, and if any of our key colleagues were to join a competitor or form a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 58.25 Td (competing company or we are unable to continue to recruit key colleagues, existing and potential clients could choose to use ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 46.25 Td (the services of that competitor instead of ) Tj ET Q q 0 0 0 rg BT 215.04 46.25 Td (W) Tj ET Q q 0 0 0 rg BT 224.08 46.25 Td (illis ) Tj ET Q q 0 0 0 rg BT 241.41 46.25 Td (T) Tj ET Q q 0 0 0 rg BT 246.82 46.25 Td (owers ) Tj ET Q q 0 0 0 rg BT 273.02 46.25 Td (W) Tj ET Q q 0 0 0 rg BT 281.66 46.25 Td (atson) Tj ET Q q 0 0 0 rg BT 305.54 46.25 Td (s services.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.64 46.25 Td ( ) Tj ET Q endstream endobj 37 0 obj <> endobj 38 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (18) Tj ET Q BT /F4 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 (e have incurred and will incur direct and indirect costs as a result of the Merger and related actions, which could exceed ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 730.25 Td (our estimates. ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 109.73 730.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 709.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 709.25 Td (e have incurred substantial expenses in connection with completing the Mer) Tj ET Q q 0 0 0 rg BT 362.26 709.25 Td (ger and related actions, including the Gras ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 697.25 Td (Savoye acquisition, and expect to incur substantial expenses in connection with coordinating and integrating the businesses, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 685.25 Td (operations, policies and procedures of the combined companies. ) Tj ET Q q 0 0 0 rg BT 311.13 685.25 Td (While we have assumed that a certain level of transaction and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 673.25 Td (integration expenses will be incurred, there are a number of factors beyond our control that could af) Tj ET Q q 0 0 0 rg BT 448.84 673.25 Td (fect the total amount or the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 661.25 Td (timing of these transaction and integration expenses. Many of the expenses that will be incurred, by their nature, are dif) Tj ET Q q 0 0 0 rg BT 527.45 661.25 Td (ficult to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 649.25 Td (estimate accurately) Tj ET Q q 0 0 0 rg BT 126.25 649.25 Td (. ) Tj ET Q q 0 0 0 rg BT 131.07 649.25 Td (These expenses may exceed the costs historically borne by us, which could exceed our estimates for these ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 637.25 Td (expenses. ) Tj ET Q q 0 0 0 rg BT 90.92 637.25 Td (These costs could adversely af) Tj ET Q q 0 0 0 rg BT 212.92 637.25 Td (fect our financial condition and results of operations. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.02 637.25 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 616.25 Td (Our success largely depends on our ability to achieve our global business strategy arising out of the Merger) Tj ET Q q 0 0 0 rg BT 491.41 616.25 Td (, and our results ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 604.25 Td (of operations and financial condition could suf) Tj ET Q q 0 0 0 rg BT 243.74 604.25 Td (fer if the Company were unable to successfully establish and execute on its ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 592.25 Td (strategy and generate anticipated revenue growth and cost savings and ef) Tj ET Q q 0 0 0 rg BT 350.93 592.25 Td (ficiencies.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 392.30 592.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 571.25 Td (Our future growth, profitability and cash flows lar) Tj ET Q q 0 0 0 rg BT 250.32 571.25 Td (gely depend upon our ability to successfully establish and execute our global ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 559.25 Td (business strategy) Tj ET Q q 0 0 0 rg BT 117.40 559.25 Td (. ) Tj ET Q q 0 0 0 rg BT 124.35 559.25 Td (As discussed under Business - Business Strategy, we seek to be an advisory) Tj ET Q q 0 0 0 rg BT 435.59 559.25 Td (, broking and solutions ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 547.25 Td (provider of choice through an integrated global platform created as a result of the Mer) Tj ET Q q 0 0 0 rg BT 394.13 547.25 Td (ger) Tj ET Q q 0 0 0 rg BT 406.35 547.25 Td (. ) Tj ET Q q 0 0 0 rg BT 413.30 547.25 Td (Although we believe that our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 535.25 Td (strategy will lead to long-term growth in revenue and profitability) Tj ET Q q 0 0 0 rg BT 312.89 535.25 Td (, we may not realize, in full or in part, the anticipated benefits ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 523.25 Td (of our business strategy) Tj ET Q q 0 0 0 rg BT 144.06 523.25 Td (. ) Tj ET Q q 0 0 0 rg BT 148.88 523.25 Td (While we have confidence that our strategic plan reflects opportunities that are appropriate and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 511.25 Td (achievable, there is a possibility that our strategy may not deliver the projected results due to inadequate execution, incorrect ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 499.25 Td (assumptions, global or local economic conditions, competition, changes in the industries in which we operate, sub-optimal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 487.25 Td (resource allocation or any of the other risks described in this Risk Factors section. ) Tj ET Q q 0 0 0 rg BT 382.51 487.25 Td (The failure to execute optimally on our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 475.25 Td (global business strategy could have a material adverse ef) Tj ET Q q 0 0 0 rg BT 276.96 475.25 Td (fect on our business, financial condition and results of operations.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.95 475.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 454.25 Td (Risks Relating to our) Tj ET Q q 0 0 0 rg BT 140.10 454.25 Td ( Business ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 181.79 454.25 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 433.25 Td (Demand for our services could decrease for various reasons, including a general economic downturn, increased ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 421.25 Td (competition, a decline in a client) Tj ET Q q 0 0 0 rg BT 186.46 421.25 Td (s or an industry) Tj ET Q q 0 0 0 rg BT 253.80 421.25 Td (s financial condition or prospects, or a decline in defined benefit pension ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 409.25 Td (plans or the purchasing of insurance, all of which could materially adversely af) Tj ET Q q 0 0 0 rg BT 377.34 409.25 Td (fect us. ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 409.28 409.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 388.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 388.25 Td (e can give no assurance that the demand for our services will grow or that we will compete successfully with our existing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 376.25 Td (competitors, new competitors or our clients) Tj ET Q q 0 0 0 rg BT 226.44 376.25 Td ( internal capabilities. Client demand for our services may change based on the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 364.25 Td (clients) Tj ET Q q 0 0 0 rg BT 78.69 364.25 Td ( needs and financial conditions. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 207.54 364.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 343.25 Td (Our results of operations are af) Tj ET Q q 0 0 0 rg BT 173.94 343.25 Td (fected directly by the level of business activity of our clients, which in turn is af) Tj ET Q q 0 0 0 rg BT 493.12 343.25 Td (fected by the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 331.25 Td (level of economic activity in the industries and markets that they serve. Global financial markets may continue to experience ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 319.25 Td (disruptions, including increased volatility and credit availability) Tj ET Q q 0 0 0 rg BT 305.12 319.25 Td (, which could substantially impact our results. Economic ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 307.25 Td (slowdowns in some markets have caused and may continue to cause reductions in discretionary spending by our clients, longer ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 295.25 Td (client payment terms, an increase in late payments by clients and an increase in uncollectible accounts receivable, each of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 283.25 Td (which may reduce the demand for our services, increase price competition and/or adversely impact our growth, profit mar) Tj ET Q q 0 0 0 rg BT 537.70 283.25 Td (gins ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 271.25 Td (and liquidity) Tj ET Q q 0 0 0 rg BT 100.18 271.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 102.68 271.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.25 Td (While it is dif) Tj ET Q q 0 0 0 rg BT 105.09 250.25 Td (ficult to predict the consequences of any deterioration in global economic conditions on our business, any ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.25 Td (significant reduction or delay by our clients in purchasing our services or insurance or making payment of premiums could ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.25 Td (have a material adverse impact on our financial condition and results of operations. In addition, the potential for a significant ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.25 Td (insurer to fail, be downgraded or withdraw from writing certain lines of insurance coverages that we of) Tj ET Q q 0 0 0 rg BT 462.18 214.25 Td (fer our clients could ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 202.25 Td (negatively impact overall capacity in the industry) Tj ET Q q 0 0 0 rg BT 247.06 202.25 Td (, which could then reduce the placement of certain lines and types of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 190.25 Td (insurance and reduce our revenues and profitability) Tj ET Q q 0 0 0 rg BT 254.82 190.25 Td (. ) Tj ET Q q 0 0 0 rg BT 259.64 190.25 Td (The potential for an insurer to fail or be downgraded could also result in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 178.25 Td (errors and omissions claims by clients. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 207.48 178.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 157.25 Td (In addition, the markets for our principal services are highly competitive. Our competitors include other insurance brokerage, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 145.25 Td (human capital and risk management consulting and actuarial firms, and the human capital and risk management divisions of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 133.25 Td (diversified professional services, insurance, brokerage and accounting firms and specialty) Tj ET Q q 0 0 0 rg BT 408.39 133.25 Td (, regional and local firms. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.63 133.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 112.25 Td (Competition for business is intense in all of our business lines and in every insurance market, and some competitors have ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 100.25 Td (greater market share in certain lines of business than we do. Some of our competitors have greater financial, technical and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 88.25 Td (marketing resources than us, which could enhance their ability to finance acquisitions, fund internal growth and respond more ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 76.25 Td (quickly to professional and technological changes. New competitors or alliances among competitors could emer) Tj ET Q q 0 0 0 rg BT 498.02 76.25 Td (ge, creating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 64.25 Td (additional competition and gaining significant market share, resulting in a loss of business for us and a corresponding decline in ) Tj ET Q endstream endobj 39 0 obj <> endobj 40 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (19) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (revenues and profit mar) Tj ET Q q 0 0 0 rg BT 145.06 742.10 Td (gin. In order to respond to increased competition and pricing pressure, we may have to lower our prices, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (which would also have an adverse ef) Tj ET Q q 0 0 0 rg BT 196.99 730.10 Td (fect on our revenues and profit mar) Tj ET Q q 0 0 0 rg BT 337.86 730.10 Td (gin. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.64 730.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 709.10 Td (An example of a business that may be significantly impacted by changes in customer demand is our retirement consulting and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 697.10 Td (actuarial business, which comprises a substantial portion of our revenue and profit. ) Tj ET Q q 0 0 0 rg BT 384.17 697.10 Td (W) Tj ET Q q 0 0 0 rg BT 392.81 697.10 Td (e provide clients with actuarial and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 685.10 Td (consulting services relating to both defined benefit and defined contribution pension plans. Defined benefit pension plans ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 673.10 Td (generally require more actuarial services than defined contribution plans because defined benefit plans typically involve lar) Tj ET Q q 0 0 0 rg BT 543.24 673.10 Td (ge ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 661.10 Td (asset pools, complex calculations to determine employer costs, funding requirements and sophisticated analysis to match ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 649.10 Td (liabilities and assets over long periods of time. If or) Tj ET Q q 0 0 0 rg BT 255.88 649.10 Td (ganizations shift to defined contribution plans more rapidly than we ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 637.10 Td (anticipate, or if we are unable to otherwise compensate for the decline in our business that results from employers moving away ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 625.10 Td (from defined benefit plans, our business, financial condition and results of operations could be materially adversely af) Tj ET Q q 0 0 0 rg BT 521.90 625.10 Td (fected. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 551.32 625.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 604.10 Td (In addition, the demand for many of our core benefit services, including compliance-related services, is af) Tj ET Q q 0 0 0 rg BT 473.55 604.10 Td (fected by government ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 592.10 Td (regulation and taxation of employee benefit plans. Significant changes in tax or social welfare policy or other regulations could ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 580.10 Td (lead some employers to discontinue their employee benefit plans, including defined benefit pension plans, thereby reducing the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 568.10 Td (demand for our services. ) Tj ET Q q 0 0 0 rg BT 150.80 568.10 Td (A) Tj ET Q q 0 0 0 rg BT 157.47 568.10 Td ( simplification of regulations or tax policy also could reduce the need for our services. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.58 568.10 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 547.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.15 547.10 Td (e could be subject to claims and lawsuits arising from our work, as well as government inquiries and investigations, which ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 535.10 Td (could materially adversely af) Tj ET Q q 0 0 0 rg BT 168.40 535.10 Td (fect our reputation, business and financial condition. ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 389.83 535.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 514.10 Td (e depend in lar) Tj ET Q q 0 0 0 rg BT 117.60 514.10 Td (ge part on our relationships with clients and our reputation for high-quality services to secure future ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (engagements. Clients that become dissatisfied with our services may terminate their business relationships with us, and clients ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td (and third parties that claim they suf) Tj ET Q q 0 0 0 rg BT 191.45 490.10 Td (fered damages caused by our services may bring lawsuits against us. ) Tj ET Q q 0 0 0 rg BT 467.85 490.10 Td (W) Tj ET Q q 0 0 0 rg BT 476.49 490.10 Td (e are subject to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (various actual and potential claims, lawsuits, investigations and other proceedings relating principally to alleged errors and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.10 Td (omissions in connection with the provision of our services or the placement of insurance and reinsurance in the ordinary course ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.10 Td (of business. ) Tj ET Q q 0 0 0 rg BT 102.04 454.10 Td (W) Tj ET Q q 0 0 0 rg BT 110.68 454.10 Td (e are also subject to actual and potential claims, lawsuits, investigations and proceedings outside of errors and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (omissions claims. See ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 140.55 442.10 Td (Note 13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 172.49 442.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 187.49 442.10 Td (Commitments and Contingencies) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.81 442.10 Td ( in Item 8 in this ) Tj ET Q q 0 0 0 rg BT 388.59 442.10 Td (Annual Report on Form 10-K for examples ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (of claims to which we are subject, including claims arising out of the Stanford insolvency) Tj ET Q q 0 0 0 rg BT 407.88 430.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.38 430.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 409.10 Td (Because we often assist our clients with matters involving substantial amounts of money) Tj ET Q q 0 0 0 rg BT 403.73 409.10 Td (, including actuarial services and the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 397.10 Td (placement of insurance coverage and the handling of related claims, errors and omissions claims against us may arise that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 385.10 Td (allege our potential liability for all or part of the substantial amounts in question. ) Tj ET Q q 0 0 0 rg BT 377.52 385.10 Td (The nature of our work, particularly our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 373.10 Td (actuarial services, necessarily involves the use of assumptions and the preparation of estimates relating to future and contingent ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 361.10 Td (events, the actual outcome of which we cannot know in advance. Our actuarial and brokerage services also rely on substantial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 349.10 Td (amounts of data provided by clients, the accuracy and quality of which we cannot ensure. In addition, we could make ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 337.10 Td (computational, software programming or data management errors in connection with the services we provide to clients.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.91 337.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 316.10 Td (Clients may seek to hold us responsible for alleged errors or omissions related to any of the brokerage advice and services we ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 304.10 Td (provide, including when claims they submit to their insurance carriers are disputed or denied. Given that many of our clients ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 292.10 Td (have very high insurance policy limits to cover all of their risks, alleged errors and omissions claims against us arising from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 280.10 Td (disputed or denied claims are often significant. Moreover) Tj ET Q q 0 0 0 rg BT 281.47 280.10 Td (, in a number of markets and in various circumstances, our brokerage ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 268.10 Td (and certain other terms of business may not limit the maximum liability to which we may be exposed for claims involving ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 256.10 Td (alleged errors or omissions; and as such, we do not have limited liability for the work we provide to the associated clients.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.49 256.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 235.10 Td (Further) Tj ET Q q 0 0 0 rg BT 79.04 235.10 Td (, given that we frequently work with lar) Tj ET Q q 0 0 0 rg BT 237.70 235.10 Td (ge pension funds and insurance companies as well as other lar) Tj ET Q q 0 0 0 rg BT 485.78 235.10 Td (ge clients, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 223.10 Td (relatively small percentage errors or variances can create significant financial variances and result in significant claims for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 211.10 Td (unintended or unfunded liabilities. ) Tj ET Q q 0 0 0 rg BT 190.07 211.10 Td (The risks from such variances or errors could be aggravated in an environment of declining ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 199.10 Td (pension fund asset values and insurance company capital levels. In almost all cases, our exposure to liability with respect to a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 187.10 Td (particular engagement is substantially greater than the revenue opportunity that the engagement generates for us.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.67 187.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 166.10 Td (Clients may seek to hold us responsible for the financial consequences of variances between assumptions and estimates and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 154.10 Td (actual outcomes or for errors. For example, in the case of liability for pension plan actuarial errors, a client) Tj ET Q q 0 0 0 rg BT 482.07 154.10 Td (s claims might ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 142.10 Td (focus on the client) Tj ET Q q 0 0 0 rg BT 126.37 142.10 Td (s alleged reliance that actuarial assumptions were reasonable and, based on such reliance, the client made ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 130.10 Td (benefit commitments the client may later claim are not af) Tj ET Q q 0 0 0 rg BT 278.90 130.10 Td (fordable or funding decisions that result in plan underfunding if and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 118.10 Td (when actual outcomes vary from actuarial assumptions.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.43 118.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 97.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 97.10 Td (e also provide advice on both asset allocation and selection of investment managers. Increasingly) Tj ET Q q 0 0 0 rg BT 446.75 97.10 Td (, for some clients, we are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 85.10 Td (responsible for making decisions on both of these matters, or we may serve in a fiduciary capacity) Tj ET Q q 0 0 0 rg BT 442.29 85.10 Td (, either of which may ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 73.10 Td (increase liability exposure. In addition, for certain clients, we are responsible for some portions of cash and investment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 61.10 Td (management, including rebalancing of investment portfolios and guidance to third parties on the structure of derivatives and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 49.10 Td (securities transactions. ) Tj ET Q q 0 0 0 rg BT 142.48 49.10 Td (Asset classes may experience poor absolute performance, and investment managers may underperform ) Tj ET Q endstream endobj 41 0 obj <> endobj 42 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (20) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (their benchmarks; in both cases the investment return shortfall can be significant. Clients experiencing this underperformance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (may assert claims against us, and such claims may be for significant amounts. In addition, our failure to properly execute our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (role can cause monetary damage to our clients or such third parties for which we might be found liable, and such claims may be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (for significant amounts. Defending against these claims can involve potentially significant costs, including legal defense costs. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (Our ability to limit our potential liability may be limited in certain jurisdictions or in connection with claims involving breaches ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (of fiduciary duties or other alleged errors or omissions.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.22 682.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 661.10 Td (The ultimate outcome of all of the above matters cannot be ascertained and liabilities in indeterminate amounts may be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 649.10 Td (imposed on us. It is thus possible that future results of operations or cash flows for any particular quarterly or annual period ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 637.10 Td (could be materially af) Tj ET Q q 0 0 0 rg BT 137.28 637.10 Td (fected by an unfavorable resolution of these matters. In addition, these matters continue to divert ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 625.10 Td (management and personnel resources away from operating our business. Even if we do not experience significant monetary ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 613.10 Td (costs, there may also be adverse publicity associated with these matters that could result in reputational harm to the industries ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 601.10 Td (we operate in or to us in particular that may adversely af) Tj ET Q q 0 0 0 rg BT 275.57 601.10 Td (fect our business, client or employee relationships. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.79 601.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 580.10 Td (Finally) Tj ET Q q 0 0 0 rg BT 77.69 580.10 Td (, we have been and may continue to be subject to inquiries and investigations by federal, state or other governmental ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 568.10 Td (agencies regarding aspects of our clients) Tj ET Q q 0 0 0 rg BT 214.47 568.10 Td ( businesses or our own businesses, especially regulated businesses such as our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 556.10 Td (insurance broker) Tj ET Q q 0 0 0 rg BT 116.51 556.10 Td (, securities broker) Tj ET Q q 0 0 0 rg BT 187.68 556.10 Td (-dealer and investment advisory services. Such inquiries or investigations may consume ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 544.10 Td (significant management time and result in regulatory sanctions, fines or other actions as well as significant legal fees, which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 532.10 Td (could have a material adverse impact on our business, results of operations and liquidity) Tj ET Q q 0 0 0 rg BT 402.04 532.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.04 532.10 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 511.10 Td (Our ability to successfully manage ongoing organizational changes could impact our business results. ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 472.29 511.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 490.10 Td (e have recently under) Tj ET Q q 0 0 0 rg BT 144.24 490.10 Td (gone several significant business and or) Tj ET Q q 0 0 0 rg BT 303.19 490.10 Td (ganizational changes, including the Mer) Tj ET Q q 0 0 0 rg BT 463.23 490.10 Td (ger) Tj ET Q q 0 0 0 rg BT 475.60 490.10 Td (, the acquisitions of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (Gras Savoye and Miller Insurance Services, LLP) Tj ET Q q 0 0 0 rg BT 244.67 478.10 Td (, and our ongoing Business Restructuring Program and multi-year operational ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.10 Td (improvement program. In connection with these changes, we are managing a number of lar) Tj ET Q q 0 0 0 rg BT 414.41 466.10 Td (ge-scale and complex integration ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.10 Td (projects. ) Tj ET Q q 0 0 0 rg BT 88.97 454.10 Td (While we have concluded that each of these lar) Tj ET Q q 0 0 0 rg BT 277.59 454.10 Td (ge, complex projects is necessary or desirable to the execution of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (Company) Tj ET Q q 0 0 0 rg BT 91.67 442.10 Td (s business strategy) Tj ET Q q 0 0 0 rg BT 165.45 442.10 Td (, we cannot guarantee that the collective ef) Tj ET Q q 0 0 0 rg BT 336.30 442.10 Td (fect of all of these projects will not adversely impact ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (our business or results of operations. In addition, as we have experienced, competition to retain or recruit talent is heightened ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.10 Td (in a challenging rate environment or during a time when we are experiencing significant change. Ef) Tj ET Q q 0 0 0 rg BT 448.00 418.10 Td (fectively managing these ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.10 Td (or) Tj ET Q q 0 0 0 rg BT 58.15 406.10 Td (ganizational changes is critical to retaining talent, servicing clients and our business success overall. ) Tj ET Q q 0 0 0 rg BT 461.18 406.10 Td (The failure to ef) Tj ET Q q 0 0 0 rg BT 525.68 406.10 Td (fectively ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.10 Td (manage such risks could adversely impact our resources or business or financial results.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.29 394.10 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 373.10 Td (In conducting our businesses around the world, we are subject to political, economic, legal, cultural, market, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 361.10 Td (nationalization, operational and other risks that are inherent in operating in many countries. ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 435.36 361.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 340.10 Td (In conducting our businesses and maintaining and supporting our global operations, we are subject to political, economic, legal, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 328.10 Td (market, nationalization, operational and other risks. Our businesses and operations continue to expand into new regions ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 316.10 Td (throughout the world, including emer) Tj ET Q q 0 0 0 rg BT 199.51 316.10 Td (ging markets. ) Tj ET Q q 0 0 0 rg BT 256.26 316.10 Td (The possible ef) Tj ET Q q 0 0 0 rg BT 317.18 316.10 Td (fects of economic and financial disruptions throughout the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 304.10 Td (world could have an adverse impact on our businesses. ) Tj ET Q q 0 0 0 rg BT 271.98 304.10 Td (These risks include: ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.46 304.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 283.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 283.10 Td (the general economic and political conditions in foreign countries; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.47 283.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 262.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 262.10 Td (the imposition of controls or limitations on the conversion of foreign currencies or remittance of dividends and other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 250.10 Td (payments by foreign subsidiaries; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 223.20 250.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 229.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 229.10 Td (the imposition of sanctions by both the U.S. and foreign governments;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.07 229.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 208.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 208.10 Td (the imposition of withholding and other taxes on remittances and other payments from subsidiaries;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.53 208.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 187.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 187.10 Td (the imposition or increase of investment and other restrictions by foreign governments; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.03 187.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 166.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 166.10 Td (the price of commodities, such as oil; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.19 166.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 145.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 145.10 Td (fluctuations in our tax rate; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.80 145.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 124.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 124.10 Td (dif) Tj ET Q q 0 0 0 rg BT 96.93 124.10 Td (ficulties in controlling operations and monitoring employees in geographically dispersed and culturally diverse ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 112.10 Td (locations; and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 146.82 112.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 91.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 91.10 Td (the practical challenge and costs of complying, or monitoring compliance, with a wide variety of foreign laws \(some ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 79.10 Td (of which are evolving or not as well-developed as the laws of the U.S. or U.K. or which may conflict with U.S. or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 67.10 Td (other sources of law\), laws and regulations applicable to insurance brokers and other business operations abroad \(in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 55.10 Td (more than 140 countries and territories including many countries in ) Tj ET Q q 0 0 0 rg BT 357.60 55.10 Td (Africa\), including laws, rules and regulations ) Tj ET Q endstream endobj 43 0 obj <> endobj 44 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (21) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 742.10 Td (relating to the conduct of business, trade sanctions laws administered by the U.S. Of) Tj ET Q q 0 0 0 rg BT 422.97 742.10 Td (fice of Foreign ) Tj ET Q q 0 0 0 rg BT 484.34 742.10 Td (Assets Control, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 730.10 Td (E.U., the U.K. and the United Nations \(U.N.\), and the requirements of the U.S. Foreign Corrupt Practices ) Tj ET Q q 0 0 0 rg BT 516.18 730.10 Td (Act as well ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 718.10 Td (as other anti-bribery and corruption rules and requirements in all of the countries in which we operate.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.03 718.10 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 697.10 Td (Our business will be negatively af) Tj ET Q q 0 0 0 rg BT 188.43 697.10 Td (fected if we are not able to anticipate and keep pace with rapid changes in government ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 685.10 Td (regulations, or if government regulations decrease the need for our services or increase our costs. ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 454.17 685.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 664.10 Td (A) Tj ET Q q 0 0 0 rg BT 56.67 664.10 Td ( material portion of our revenues are af) Tj ET Q q 0 0 0 rg BT 212.81 664.10 Td (fected by statutory or regulatory changes. ) Tj ET Q q 0 0 0 rg BT 381.18 664.10 Td (The recent U.S. election may result in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 652.10 Td (significant regulatory change and/or uncertainty) Tj ET Q q 0 0 0 rg BT 241.50 652.10 Td (. For example, the new administration) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 395.91 652.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.69 652.10 Td (and certain key members of Congress ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 640.10 Td (have expressed a desire to replace or amend all or a portion of the Patient Protection and ) Tj ET Q q 0 0 0 rg BT 405.71 640.10 Td (Af) Tj ET Q q 0 0 0 rg BT 416.08 640.10 Td (fordable Care ) Tj ET Q q 0 0 0 rg BT 472.72 640.10 Td (Act \(PP) Tj ET Q q 0 0 0 rg BT 506.52 640.10 Td (ACA) Tj ET Q q 0 0 0 rg BT 526.53 640.10 Td (\), and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 628.10 Td (the Healthcare and Education Reconciliation ) Tj ET Q q 0 0 0 rg BT 230.76 628.10 Td (Act of 2010, \(HCERA) Tj ET Q q 0 0 0 rg BT 322.97 628.10 Td (\), which we refer to collectively as Healthcare Reform. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 616.10 Td (If we are unable to adapt our services to applicable laws and regulations, our ability to provide ef) Tj ET Q q 0 0 0 rg BT 438.02 616.10 Td (fective services in these areas ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 604.10 Td (may be substantially impacted. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 176.36 604.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 583.10 Td (Many areas in which we provide services are the subject of government regulation, which is constantly evolving. For example, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 571.10 Td (our activities in connection with insurance brokerage services are subject to regulation and supervision by national, state or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 559.10 Td (other authorities. Insurance laws in the markets in which we operate are often complex and generally grant broad discretion to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 547.10 Td (supervisory authorities in adopting regulations and supervising regulated activities. ) Tj ET Q q 0 0 0 rg BT 384.75 547.10 Td (That supervision generally includes the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 535.10 Td (licensing of insurance brokers and agents and the regulation of the handling and investment of client funds held in a fiduciary ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 523.10 Td (capacity) Tj ET Q q 0 0 0 rg BT 82.66 523.10 Td (. Our continuing ability to provide insurance brokerage in the markets in which we currently operate is dependent upon ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 511.10 Td (our compliance with the rules and regulations promulgated from time to time by the regulatory authorities in each of these ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 499.10 Td (locations. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 91.10 499.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (Changes in government and accounting regulations in the U.S. and the U.K., two of our principal geographic markets, af) Tj ET Q q 0 0 0 rg BT 532.47 478.10 Td (fecting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.10 Td (the value, use or delivery of benefits and human capital programs may materially adversely af) Tj ET Q q 0 0 0 rg BT 425.51 466.10 Td (fect the demand for) Tj ET Q q 0 0 0 rg BT 503.13 466.10 Td (, or the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.10 Td (profitability of, our services. In addition, more restrictive rules or interpretations of the Federal Centers for Medicare Services ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (marketing rules, or judicial decisions that restrict or otherwise change existing provisions of U.S. healthcare regulation, could ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (have a material adverse impact on our Exchange Solutions business. Further) Tj ET Q q 0 0 0 rg BT 354.79 430.10 Td (, changes to insurance regulatory schemes, or our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.10 Td (failure to keep pace with such changes, could negatively af) Tj ET Q q 0 0 0 rg BT 285.83 418.10 Td (fect demand for services in our Investment, Risk and Reinsurance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.10 Td (business segment. For example, our continuing ability to provide investment advisory services depends on compliance with the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.10 Td (rules and regulations in each of these jurisdictions. ) Tj ET Q q 0 0 0 rg BT 254.67 394.10 Td (Any failure to comply with these regulations could lead to disciplinary ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.10 Td (action, including compensating clients for loss, the imposition of fines or the revocation of the authorization to operate, as well ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.10 Td (as damage to our reputation. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 168.57 370.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 349.10 Td (In addition, we have significant operations throughout the world, which further subject us to applicable laws and regulations of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 337.10 Td (countries outside the U.S. and the U.K. Changes in legislation or regulations and actions by regulators in particular countries, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 325.10 Td (including changes in administration and enforcement policies, could require operational improvements or modifications, which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 313.10 Td (may result in higher costs or hinder our ability to operate our business in those countries. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.98 313.10 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 292.10 Td (Our growth strategy depends, in part, on our ability to make acquisitions and we face risks when we acquire or divest ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 280.10 Td (businesses, and could have dif) Tj ET Q q 0 0 0 rg BT 174.55 280.10 Td (ficulty in acquiring, integrating or managing acquired businesses, or with ef) Tj ET Q q 0 0 0 rg BT 488.86 280.10 Td (fecting internal ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 268.10 Td (reorganizations, which could harm our business, financial condition, results of operations or reputation. ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 483.15 268.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 247.10 Td (Our growth depends in part on our ability to make acquisitions. ) Tj ET Q q 0 0 0 rg BT 305.88 247.10 Td (W) Tj ET Q q 0 0 0 rg BT 314.52 247.10 Td (e may not be successful in identifying appropriate acquisition ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 235.10 Td (candidates or consummating acquisitions on terms acceptable or favorable to us. ) Tj ET Q q 0 0 0 rg BT 374.17 235.10 Td (W) Tj ET Q q 0 0 0 rg BT 382.80 235.10 Td (e also face additional risks related to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 223.10 Td (acquisitions, including that we could overpay for acquired businesses and that any acquired business could significantly ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 211.10 Td (underperform relative to our expectations. If we are unable to identify and successfully make acquisitions, our business could ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 199.10 Td (be materially adversely af) Tj ET Q q 0 0 0 rg BT 153.38 199.10 Td (fected. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 182.80 199.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 178.10 Td (In addition, we cannot be certain that our acquisitions will be accretive to earnings or that our acquisitions or divestitures will ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 166.10 Td (otherwise meet our operational or strategic expectations. ) Tj ET Q q 0 0 0 rg BT 278.25 166.10 Td (Acquisitions involve special risks, including the potential assumption ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 154.10 Td (of unanticipated liabilities and contingencies and dif) Tj ET Q q 0 0 0 rg BT 259.20 154.10 Td (ficulties in integrating acquired businesses, and acquired businesses may ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 142.10 Td (not achieve the levels of revenue, profit or productivity we anticipate or otherwise perform as we expect. In addition, if the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 130.10 Td (operating performance of an acquired business deteriorates significantly) Tj ET Q q 0 0 0 rg BT 337.85 130.10 Td (, we may need to write down the value of the goodwill ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 118.10 Td (and other acquisition-related intangible assets recorded on our balance sheet. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.60 118.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 97.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 97.10 Td (e may be unable to ef) Tj ET Q q 0 0 0 rg BT 144.25 97.10 Td (fectively integrate an acquired business into our or) Tj ET Q q 0 0 0 rg BT 346.50 97.10 Td (ganization, and may not succeed in managing such ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 85.10 Td (acquired businesses or the lar) Tj ET Q q 0 0 0 rg BT 167.56 85.10 Td (ger company that results from such acquisitions. ) Tj ET Q q 0 0 0 rg BT 363.45 85.10 Td (The process of integration of an acquired ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 73.10 Td (business may subject us to a number of risks, including: ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 276.36 73.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 52.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 52.10 Td (Diversion of management attention; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.63 52.10 Td ( ) Tj ET Q endstream endobj 45 0 obj <> endobj 46 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (22) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 742.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 742.10 Td (Amortization of intangible assets, adversely af) Tj ET Q q 0 0 0 rg BT 271.87 742.10 Td (fecting our reported results of operations; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.16 742.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 721.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 721.10 Td (Inability to retain the management, key personnel and other employees of the acquired business;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.43 721.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 700.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 700.10 Td (Inability to establish uniform standards, controls, systems, procedures and policies; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.21 700.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 679.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 679.10 Td (Inability to retain the acquired company) Tj ET Q q 0 0 0 rg BT 249.00 679.10 Td (s clients; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.77 679.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 658.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 658.10 Td (Exposure to legal claims for activities of the acquired business prior to acquisition; and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.02 658.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 637.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 637.10 Td (Incurrence of additional expenses in connection with the integration process. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.62 637.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 616.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 616.10 Td (e may also face similar challenges in ef) Tj ET Q q 0 0 0 rg BT 215.89 616.10 Td (fecting internal reor) Tj ET Q q 0 0 0 rg BT 295.11 616.10 Td (ganizations. If acquisitions or internal reor) Tj ET Q q 0 0 0 rg BT 464.88 616.10 Td (ganizations are not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 604.10 Td (successfully integrated, our business, financial condition and results of operations could be materially adversely af) Tj ET Q q 0 0 0 rg BT 507.46 604.10 Td (fected, as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 592.10 Td (well as our professional reputation.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.80 592.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 571.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 571.10 Td (e also own an interest in a number of associates where we do not exercise management control and we are therefore limited ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 559.10 Td (in our ability to direct or manage the business to realize the anticipated benefits that we could achieve if we had full ownership.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.55 559.10 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (Data security breaches or improper disclosure of confidential company or personal data could result in material financial ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (loss, loss of human capital, regulatory actions, reputational harm or legal liability) Tj ET Q q 0 0 0 rg BT 386.34 526.10 Td (.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 388.84 526.10 Td ( ) 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 depend on information technology networks and systems to process, transmit and store electronic information and to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 493.10 Td (communicate among our locations around the world and with our alliance partners and clients. ) Tj ET Q q 0 0 0 rg BT 430.17 493.10 Td (Additionally) Tj ET Q q 0 0 0 rg BT 480.07 493.10 Td (, one of our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 481.10 Td (significant responsibilities is to maintain the security and privacy of our clients) Tj ET Q q 0 0 0 rg BT 368.35 481.10 Td ( confidential and proprietary information and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 469.10 Td (the personal data of their customers and/or employees. Our information systems, and those of our third-party service providers ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 457.10 Td (and vendors, are vulnerable to an increasing threat of continually evolving cybersecurity risks. Computer viruses, hackers and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 445.10 Td (other external hazards, as well as improper or inadvertent staf) Tj ET Q q 0 0 0 rg BT 296.39 445.10 Td (f behavior) Tj ET Q q 0 0 0 rg BT 336.80 445.10 Td (, could expose confidential company and personal data ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 433.10 Td (systems and information to security breaches. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 235.23 433.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 412.10 Td (W) Tj ET Q q 0 0 0 rg BT 59.04 412.10 Td (ith respect to our commercial arrangements with third-party vendors, we have processes designed to require third-party IT) Tj ET Q q 0 0 0 rg BT 547.30 412.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 400.10 Td (outsourcing, of) Tj ET Q q 0 0 0 rg BT 110.37 400.10 Td (fsite storage and other vendors to agree to maintain certain standards with respect to the storage, protection and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 388.10 Td (transfer of confidential, personal and proprietary information. However) Tj ET Q q 0 0 0 rg BT 335.33 388.10 Td (, we remain at risk of a data breach due to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 376.10 Td (intentional or unintentional non-compliance by a vendor) Tj ET Q q 0 0 0 rg BT 275.86 376.10 Td () Tj ET Q q 0 0 0 rg BT 278.64 376.10 Td (s employee or agent, the breakdown of a vendor) Tj ET Q q 0 0 0 rg BT 471.45 376.10 Td () Tj ET Q q 0 0 0 rg BT 474.22 376.10 Td (s data protection ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 364.10 Td (processes, or a cyber) Tj ET Q q 0 0 0 rg BT 133.10 364.10 Td (-attack on a vendor) Tj ET Q q 0 0 0 rg BT 210.38 364.10 Td () Tj ET Q q 0 0 0 rg BT 213.15 364.10 Td (s information systems. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.93 364.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 343.10 Td (Unauthorized parties may attempt to gain access to our information technology networks and systems or our information ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 331.10 Td (through fraud or other means of deceiving our colleagues, third-party service providers or vendors. ) Tj ET Q q 0 0 0 rg BT 448.02 331.10 Td (The methods used to obtain ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 319.10 Td (unauthorized access, disable or degrade service or sabotage systems are also constantly changing and evolving; continue to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 307.10 Td (become more advanced and complex; and may be dif) Tj ET Q q 0 0 0 rg BT 263.07 307.10 Td (ficult to anticipate or detect. For example, the Cyber Division of the U.S. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 295.10 Td (Federal Bureau of Investigation \(FBI\) recently issued a notification that cyber criminals have tar) Tj ET Q q 0 0 0 rg BT 442.18 295.10 Td (geted, and may increasingly ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 283.10 Td (tar) Tj ET Q q 0 0 0 rg BT 60.37 283.10 Td (get, assets held in Health Savings ) Tj ET Q q 0 0 0 rg BT 196.18 283.10 Td (Accounts and Reimbursement ) Tj ET Q q 0 0 0 rg BT 318.66 283.10 Td (Accounts to fraudulently acquire the assets held in those ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 271.10 Td (accounts. ) Tj ET Q q 0 0 0 rg BT 91.93 271.10 Td (Assets held in Health Savings ) Tj ET Q q 0 0 0 rg BT 213.32 271.10 Td (Accounts are expected to grow substantially over the next few years and given the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 259.10 Td (Company) Tj ET Q q 0 0 0 rg BT 91.67 259.10 Td (s move toward managing more of these assets ourselves as a Non-Bank Custodian in connection with our Exchange ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 247.10 Td (Solutions Businesses, our reputation could be harmed and our business and results of operations could be materially adversely ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 235.10 Td (af) Tj ET Q q 0 0 0 rg BT 57.59 235.10 Td (fected if we are the tar) Tj ET Q q 0 0 0 rg BT 147.07 235.10 Td (get of such fraud and it goes undetected for any period of time. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.43 235.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 214.10 Td (e have implemented and regularly review and update processes and procedures to protect against fraud or unauthorized ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 202.10 Td (access to or use of secured data and to prevent data loss. However) Tj ET Q q 0 0 0 rg BT 313.67 202.10 Td (, the ever) Tj ET Q q 0 0 0 rg BT 350.39 202.10 Td (-evolving threats mean we and our third-party ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 190.10 Td (service providers and vendors must continually evaluate and adapt our respective systems and processes, and there is no ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 178.10 Td (guarantee that they will be adequate to safeguard against all fraud, data security breaches or misuses of data. ) Tj ET Q q 0 0 0 rg BT 485.39 178.10 Td (Any future ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 166.10 Td (significant compromise or breach of our data security or fraud, whether external or internal, or misuse of client, colleague, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 154.10 Td (supplier or company data, could result in additional significant costs, lost revenue opportunities, fines, lawsuits, and damage to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 142.10 Td (our reputation. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 111.37 142.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 121.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 121.10 Td (e are subject to numerous U.S. and foreign jurisdiction laws and regulations designed to protect this information, such as the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 109.10 Td (European Union Directive on Data Protection and various U.S. federal and state laws governing the protection of health or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 97.10 Td (other individually identifiable information. Laws and regulations in this area are evolving and generally becoming more ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 85.10 Td (stringent. Further) Tj ET Q q 0 0 0 rg BT 121.53 85.10 Td (, a U.K. exit from the E.U. will increase uncertainty regarding applicable laws and regulations pending more ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 73.10 Td (clarity on the terms of that exit. If any person, including any of our colleagues, fails to comply with, disregards or intentionally ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 61.10 Td (breaches our established controls with respect to such data or otherwise mismanages or misappropriates that data, we could be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 49.10 Td (subject to monetary damages, fines or criminal prosecution. Unauthorized disclosure of sensitive or confidential client or ) Tj ET Q endstream endobj 47 0 obj <> endobj 48 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (23) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (employee data, whether through systems failure, accident, employee negligence, fraud or misappropriation, could damage our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (reputation and cause us to lose clients. Similarly) Tj ET Q q 0 0 0 rg BT 242.64 730.10 Td (, unauthorized access to or through our information systems or those we ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (develop for our clients, whether by our colleagues or third parties, could result in significant additional expenses \(including ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (expenses relating to notification of data security breaches and costs of credit monitoring services\), negative publicity) Tj ET Q q 0 0 0 rg BT 516.42 706.10 Td (, legal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (liability and damage to our reputation, as well as require substantial resources and ef) Tj ET Q q 0 0 0 rg BT 388.04 694.10 Td (fort of management, thereby diverting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (management) Tj ET Q q 0 0 0 rg BT 103.87 682.10 Td (s focus and resources from business operations.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.10 682.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 661.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 661.10 Td (e have experienced a number of data incidents, resulting from human error or malfeasance as well as attempts at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 649.10 Td (unauthorized access to our systems, none of which to our knowledge have been material to our business or our clients. ) Tj ET Q q 0 0 0 rg BT 525.81 649.10 Td (W) Tj ET Q q 0 0 0 rg BT 534.44 649.10 Td (e ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 637.10 Td (maintain policies, procedures and technological safeguards designed to protect the security and privacy of this information. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 625.10 Td (However) Tj ET Q q 0 0 0 rg BT 86.25 625.10 Td (, we cannot entirely eliminate the risk of data security breaches, improper access to or disclosure of confidential ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 613.10 Td (company or personally identifiable information. Our technology may fail to adequately secure the private information we hold ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 601.10 Td (and protect it from theft, computer viruses, hackers or inadvertent loss. In such circumstances, we may be held liable to our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 589.10 Td (clients, which could result in legal liability or impairment to our reputation resulting in increased costs or loss of revenue. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 577.10 Td (Further) Tj ET Q q 0 0 0 rg BT 79.04 577.10 Td (, data privacy) Tj ET Q q 0 0 0 rg BT 132.53 577.10 Td (, information security) Tj ET Q q 0 0 0 rg BT 218.25 577.10 Td (, identity theft, and related computer and internet issues are matters of growing public ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 565.10 Td (concern and are subject to frequently changing rules and regulations. Our failure to adhere to or successfully implement ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 553.10 Td (processes in response to changing customer expectations and legal or regulatory requirements in this area, including changing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 541.10 Td (legal or regulatory requirements that may be developed or revised due to the vote in the U.K. to leave the E.U., could result in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 529.10 Td (legal liability or impairment to our reputation or business. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.84 529.10 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 508.10 Td (Our compliance systems and controls cannot guarantee that we comply with all applicable federal and state or foreign laws ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 496.10 Td (and regulations, and actions by regulatory authorities or changes in applicable laws and regulations in the jurisdictions in ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 484.10 Td (which we operate could have an adverse ef) Tj ET Q q 0 0 0 rg BT 225.63 484.10 Td (fect on our business. ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 313.14 484.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 463.10 Td (Our activities are subject to extensive regulation under the laws of the U.S., the U.K., the E.U. and its member states, and the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 451.10 Td (other jurisdictions around the world in which we operate. In addition, we own an interest in a number of associates where we ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 439.10 Td (do not exercise management control. Over the last few years, regulators across the world are increasingly seeking to regulate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 427.10 Td (brokers who operate in their jurisdictions. ) Tj ET Q q 0 0 0 rg BT 219.50 427.10 Td (The foreign and U.S. laws and regulations applicable to our operations are complex, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 415.10 Td (continually evolving and may increase the costs of regulatory compliance, limit or restrict the products or services we sell or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 403.10 Td (subject our business to the possibility of regulatory actions or proceedings. ) Tj ET Q q 0 0 0 rg BT 351.43 403.10 Td (These laws and regulations include insurance and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 391.10 Td (financial industry regulations, competition law regulations, economic and trade sanctions laws relating to countries in which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 379.10 Td (certain subsidiaries do business or may do business \(Sanctioned Jurisdictions\) such as Cuba, Iran, Russia, Sudan and Syria, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 367.10 Td (anti-corruption laws such as the U.S. Foreign Corrupt Practices ) Tj ET Q q 0 0 0 rg BT 305.23 367.10 Td (Act, the U.K. Bribery ) Tj ET Q q 0 0 0 rg BT 393.82 367.10 Td (Act 2010 and similar local laws ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 355.10 Td (prohibiting corrupt payments to governmental of) Tj ET Q q 0 0 0 rg BT 245.05 355.10 Td (ficials and the Foreign ) Tj ET Q q 0 0 0 rg BT 336.70 355.10 Td (Account ) Tj ET Q q 0 0 0 rg BT 372.90 355.10 Td (T) Tj ET Q q 0 0 0 rg BT 378.31 355.10 Td (ax Compliance provisions of the Hiring ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 343.10 Td (Incentives to Restore Employment ) Tj ET Q q 0 0 0 rg BT 190.53 343.10 Td (Act in the U.S., as well as laws and regulations related to data privacy and cyber security) Tj ET Q q 0 0 0 rg BT 545.60 343.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 331.10 Td (Because of changes in regulation and Company practice, our non-U.S. subsidiaries are providing more services with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 319.10 Td (connections to various countries, including some Sanctioned Jurisdictions, that our U.S. subsidiaries are unable to perform. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.18 319.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.10 Td (In most jurisdictions, governmental and regulatory authorities have the ability to interpret and amend these laws and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.10 Td (regulations and impose penalties for non-compliance, including sanctions, civil remedies, monetary fines, injunctions, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.10 Td (revocation of licenses or approvals, suspension of individuals, limitations on business activities or redress to clients. ) Tj ET Q q 0 0 0 rg BT 516.68 274.10 Td (While we ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.10 Td (believe that we have substantially increased our focus on the geographic breadth of regulations to which we are subject, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.10 Td (maintain good relationships with our key regulators and our current systems and controls are adequate, we cannot assure that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.10 Td (such systems and controls will prevent any violations of any applicable laws and regulations. ) Tj ET Q q 0 0 0 rg BT 426.96 238.10 Td (While we strive to remain fully-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.10 Td (compliant with all applicable laws and regulations, we cannot guarantee that we will fully comply at all times with all laws and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.10 Td (regulations, especially in countries with developing or evolving legal systems or with evolving or extra-territorial regulations. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 202.10 Td (In particular) Tj ET Q q 0 0 0 rg BT 98.74 202.10 Td (, given the challenges of integrating operations, many of which are de-centralized, we cannot assure that our newly-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 190.10 Td (acquired entities) Tj ET Q q 0 0 0 rg BT 118.39 190.10 Td ( business systems and controls have prevented or will prevent any and all violations of applicable laws or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 178.10 Td (regulations. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.43 178.10 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 157.10 Td (Interruption to or loss of our information processing capabilities or failure to ef) Tj ET Q q 0 0 0 rg BT 378.19 157.10 Td (fectively maintain and upgrade our ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 145.10 Td (information processing hardware or systems could cause material financial loss, regulatory actions, reputational harm or ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 133.10 Td (legal liability) Tj ET Q q 0 0 0 rg BT 103.23 133.10 Td (. ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 108.23 133.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 112.10 Td (Our business depends significantly on ef) Tj ET Q q 0 0 0 rg BT 212.29 112.10 Td (fective information systems. Our capacity to service our clients relies on ef) Tj ET Q q 0 0 0 rg BT 512.01 112.10 Td (fective ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 100.10 Td (storage, retrieval, processing and management of information. Our information systems also rely on the commitment of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 88.10 Td (significant resources to maintain and enhance existing systems, develop and create new systems and products in order to keep ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 76.10 Td (pace with continuing changes in information processing technology or evolving industry and regulatory standards and to be at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 64.10 Td (the forefront of a range of technology relevant to our business. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.70 64.10 Td ( ) Tj ET Q endstream endobj 49 0 obj <> endobj 50 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (24) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (If the data we rely on to run our business were found to be inaccurate or unreliable or if we fail to maintain ef) Tj ET Q q 0 0 0 rg BT 487.71 742.10 Td (fective and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (ef) Tj ET Q q 0 0 0 rg BT 57.59 730.10 Td (ficient systems \(including through a telecommunications failure, failure to replace or update redundant or obsolete computer ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (hardware, applications or software systems or if we experience other disruptions\), this could result in material financial loss, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (regulatory action, reputational harm or legal liability) Tj ET Q q 0 0 0 rg BT 259.56 706.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 264.56 706.10 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 685.10 Td (Our inability to successfully recover should we experience a disaster or other business continuity problem could cause ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 673.10 Td (material financial loss, loss of human capital, regulatory actions, reputational harm or legal liability) Tj ET Q q 0 0 0 rg BT 463.01 673.10 Td (. ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 468.01 673.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 652.10 Td (Should we experience a disaster or other business continuity problem, such as an earthquake, hurricane, terrorist attack, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 640.10 Td (pandemic, security breach, power loss, telecommunications failure or other natural or man-made disaster) Tj ET Q q 0 0 0 rg BT 469.17 640.10 Td (, our continued success ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 628.10 Td (will depend, in part, on the availability of our personnel, our of) Tj ET Q q 0 0 0 rg BT 301.98 628.10 Td (fice facilities, and the proper functioning of our computer) Tj ET Q q 0 0 0 rg BT 531.77 628.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 616.10 Td (telecommunication and other related systems and operations. In such an event, we could experience near) Tj ET Q q 0 0 0 rg BT 468.53 616.10 Td (-term operational ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 604.10 Td (challenges with regard to particular areas of our operations. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 290.46 604.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 583.10 Td (A) Tj ET Q q 0 0 0 rg BT 56.67 583.10 Td ( disaster on a significant scale or af) Tj ET Q q 0 0 0 rg BT 197.27 583.10 Td (fecting certain of our key operating areas within or across regions, or our inability to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 571.10 Td (successfully recover should we experience a disaster or other business continuity problem, could materially interrupt our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 559.10 Td (business operations and cause material financial loss, loss of human capital, regulatory actions, reputational harm, damaged ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 547.10 Td (client relationships or legal liability) Tj ET Q q 0 0 0 rg BT 191.54 547.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.54 547.10 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (Damage to our reputation, including due to failure of third-parties on whom we rely to perform services, could damage our ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (businesses. ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 98.34 514.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 493.10 Td (Maintaining a positive reputation is critical to our ability to attract and maintain relationships with clients and colleagues. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 481.10 Td (Damage to our reputation could therefore cause significant harm to our business and prospects. Harm to our reputation can ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 469.10 Td (arise from numerous sources, including, among others, employee misconduct, litigation or regulatory action, failure to deliver ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 457.10 Td (minimum standards of service and quality) Tj ET Q q 0 0 0 rg BT 217.37 457.10 Td (, compliance failures and unethical behavior) Tj ET Q q 0 0 0 rg BT 393.96 457.10 Td (. Negative publicity) Tj ET Q q 0 0 0 rg BT 472.46 457.10 Td (, whether or not true, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 445.10 Td (may also result in harm to our prospects. In addition, the failure to deliver satisfactory service and quality in one line of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 433.10 Td (business could cause clients to terminate the services we provide to that client in many other lines of business.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.72 433.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 412.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 412.10 Td (e could also suf) Tj ET Q q 0 0 0 rg BT 120.94 412.10 Td (fer significant reputational harm if we fail to properly identify and manage potential conflicts of interest. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 400.10 Td (Identifying conflicts of interest may prove particularly dif) Tj ET Q q 0 0 0 rg BT 281.13 400.10 Td (ficult in the near) Tj ET Q q 0 0 0 rg BT 346.74 400.10 Td (-term while we bring together and integrate Legacy ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 388.10 Td (W) Tj ET Q q 0 0 0 rg BT 59.04 388.10 Td (illis, Legacy ) Tj ET Q q 0 0 0 rg BT 110.79 388.10 Td (T) Tj ET Q q 0 0 0 rg BT 116.20 388.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 142.40 388.10 Td (W) Tj ET Q q 0 0 0 rg BT 151.04 388.10 Td (atson and Gras Savoye. In addition, we may encounter more conflicts of interest than anticipated in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 376.10 Td (connection with the Mer) Tj ET Q q 0 0 0 rg BT 147.85 376.10 Td (ger or the Gras Savoye acquisition and we may not be able to adequately address such conflicts of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 364.10 Td (interest. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.93 364.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 343.10 Td (The failure or perceived failure to adequately address conflicts of interest could af) Tj ET Q q 0 0 0 rg BT 378.01 343.10 Td (fect the willingness of clients to deal with us, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 331.10 Td (or give rise to litigation or enforcement actions. ) Tj ET Q q 0 0 0 rg BT 242.82 331.10 Td (There can be no assurance that conflicts of interest will not arise in the future ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 319.10 Td (that could cause material harm to us. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 199.39 319.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.10 Td (In addition, as part of providing services to clients and managing our business, we rely on a number of third-party service ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.10 Td (providers. Our ability to perform ef) Tj ET Q q 0 0 0 rg BT 191.45 286.10 Td (fectively depends in part on the ability of these service providers to meet their obligations, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.10 Td (as well as on our ef) Tj ET Q q 0 0 0 rg BT 127.29 274.10 Td (fective oversight of their performance. ) Tj ET Q q 0 0 0 rg BT 283.71 274.10 Td (The quality of our services could suf) Tj ET Q q 0 0 0 rg BT 430.16 274.10 Td (fer or we could be required to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.10 Td (incur unanticipated costs if our third-party service providers do not perform as expected or their services are disrupted. ) Tj ET Q q 0 0 0 rg BT 527.15 262.10 Td (This ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.10 Td (could have a material adverse ef) Tj ET Q q 0 0 0 rg BT 178.92 250.10 Td (fect on our reputation as well as our business and results of operations.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.90 250.10 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 229.10 Td (The vote in the United Kingdom to leave the European Union, and the risk that other countries may follow) Tj ET Q q 0 0 0 rg BT 488.28 229.10 Td (, could adversely ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 217.10 Td (af) Tj ET Q q 0 0 0 rg BT 58.15 217.10 Td (fect us. ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 90.09 217.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 196.10 Td (On an annual basis, approximately 23% of our revenues are generated in the U.K., although only about 14% of revenues are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 184.10 Td (denominated in Pounds sterling as much of the insurance business is transacted in U.S. dollars. ) Tj ET Q q 0 0 0 rg BT 434.11 184.10 Td (Approximately 20% of our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 172.10 Td (expenses are denominated in Pounds sterling. In a referendum held in June 2016, a majority of voters in the U.K. voted in favor ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 160.10 Td (of the U.K. leaving the E.U. ) Tj ET Q q 0 0 0 rg BT 164.42 160.10 Td (At this time, we are not able to predict the impact that the result of this vote will have on the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 148.10 Td (economy; economic, regulatory and political stability; and market conditions in Europe, including in the U.K., or on Pound ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 136.10 Td (sterling, Euro or other European currencies, but any such impacts and others we cannot currently anticipate could materially ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 124.10 Td (adversely af) Tj ET Q q 0 0 0 rg BT 98.40 124.10 Td (fect us and our operations. ) Tj ET Q q 0 0 0 rg BT 206.15 124.10 Td (Among other things, we could experience: lower growth in the region due to indecision ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 112.10 Td (as businesses hold of) Tj ET Q q 0 0 0 rg BT 133.98 112.10 Td (f on generating new projects or due to adverse market conditions; and reduced reported revenues and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 100.10 Td (earnings because foreign currencies may translate into fewer U.S. dollars due to the fact that we translate revenue denominated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 88.10 Td (in non-U.S. currencies such as Pounds sterling into U.S. dollars for our financial statements. In addition, there can be no ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 76.10 Td (assurance that our hedging strategies will be ef) Tj ET Q q 0 0 0 rg BT 237.26 76.10 Td (fective.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 266.96 76.10 Td ( ) Tj ET Q endstream endobj 51 0 obj <> endobj 52 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (25) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (It is expected that the British government will begin negotiating the terms of the U.K.'s future relationship with the E.U. this ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (year) Tj ET Q q 0 0 0 rg BT 66.66 730.10 Td (. ) Tj ET Q q 0 0 0 rg BT 71.10 730.10 Td (Although it is unknown and we cannot anticipate what those terms will be, they may result in greater restrictions on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (business between the U.K. and E.U. countries and increased regulatory complexities. ) Tj ET Q q 0 0 0 rg BT 392.50 718.10 Td (There is also uncertainty regarding how ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (the U.K.'s access to the E.U. Single Market and the wider trading, legal, regulatory) Tj ET Q q 0 0 0 rg BT 380.78 706.10 Td (, tax and labor environments, especially in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (the U.K. and E.U., will be impacted, including the resulting impact on our business and that of our clients. ) Tj ET Q q 0 0 0 rg BT 477.14 694.10 Td (Any such changes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (may adversely af) Tj ET Q q 0 0 0 rg BT 118.12 682.10 Td (fect our operations and financial results. For example, any changes to the passporting or other regulations ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (relating to doing business in various E.U. countries by relying on a regulatory permission in the U.K. \(or doing business in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (U.K. by relying on a regulatory permission in an E.U. country\) could increase our costs of doing business, or our ability to do ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (so. ) Tj ET Q q 0 0 0 rg BT 65.84 646.10 Td (As another example, changes in labor laws may impact the ability to hire and retain non-U.K. staf) Tj ET Q q 0 0 0 rg BT 456.93 646.10 Td (f in the U.K. or U.K. staf) Tj ET Q q 0 0 0 rg BT 556.73 646.10 Td (f ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (in the E.U. In addition, the outcome of the referendum has created uncertainty with regard to the regulation of data protection ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (in the U.K. ) Tj ET Q q 0 0 0 rg BT 96.39 622.10 Td (Among other things, it is unclear whether the U.K. will enact legislation similar to the pending European General ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (Data Protection Regulation after the U.K.) Tj ET Q q 0 0 0 rg BT 219.12 610.10 Td (s exit from the E.U. \(Brexit\), and how data transfers to and from the U.K. will be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td (regulated. ) Tj ET Q q 0 0 0 rg BT 91.65 598.10 Td (A) Tj ET Q q 0 0 0 rg BT 98.32 598.10 Td ( change in such regulations, or other regulations, could increase our costs of doing business, or in some cases our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (ability to do business, and adversely impact our operations and financial results. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.70 586.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 565.10 Td (There is also a risk that other countries may decide to leave the E.U. In particular) Tj ET Q q 0 0 0 rg BT 374.20 565.10 Td (, depending on the outcome of the upcoming ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 553.10 Td (election in France, France could be the next country to decide whether to leave the E.U. ) Tj ET Q q 0 0 0 rg BT 403.30 553.10 Td (W) Tj ET Q q 0 0 0 rg BT 411.93 553.10 Td (e cannot predict the impact that any ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 541.10 Td (additional countries leaving the E.U. will have on us, but any such impacts could materially adversely af) Tj ET Q q 0 0 0 rg BT 467.76 541.10 Td (fect us.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.64 541.10 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 520.10 Td (Our Exchange Solutions business may be harmed if we lose our relationships with insurance carriers, fail to maintain good ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 508.10 Td (relationships with insurance carriers, become dependent upon a limited number of insurance carriers or fail to develop new ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 496.10 Td (carrier relationships. ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 139.18 496.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 475.10 Td (Our Exchange Solutions business typically enters into contractual agency relationships with insurance carriers that are non-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 463.10 Td (exclusive and terminable on short notice by either party for any reason. In many cases, insurance carriers also have the ability ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 451.10 Td (to amend the terms of our agreements unilaterally on short notice. Insurance carriers may be unwilling to allow us to sell their ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 439.10 Td (existing or new health insurance plans or may amend our agreements with them, for a variety of reasons, including for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 427.10 Td (competitive or regulatory reasons or because of a reluctance to distribute their products through our exchange platform. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 415.10 Td (Insurance carriers may decide to rely on their own internal distribution channels, choose to exclude us from their most ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 403.10 Td (profitable or popular plans, or decide not to distribute insurance plans in individual markets in certain geographies or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 391.10 Td (altogether) Tj ET Q q 0 0 0 rg BT 89.43 391.10 Td (. ) Tj ET Q q 0 0 0 rg BT 93.88 391.10 Td (Additionally) Tj ET Q q 0 0 0 rg BT 143.78 391.10 Td (, if one of the insurance carriers with which we are associated violates the law or comes under scrutiny ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 379.10 Td (by the Centers for Medicare & Medicaid Services \(CMS\), CMS may impose sanctions on such carriers, resulting in a loss of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 367.10 Td (supply of insurance plans that we are able to sell. ) Tj ET Q q 0 0 0 rg BT 248.93 367.10 Td (The termination or amendment of our relationship with an insurance carrier ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 355.10 Td (could reduce the variety of health insurance plans we of) Tj ET Q q 0 0 0 rg BT 273.34 355.10 Td (fer) Tj ET Q q 0 0 0 rg BT 283.89 355.10 Td (. ) Tj ET Q q 0 0 0 rg BT 288.71 355.10 Td (W) Tj ET Q q 0 0 0 rg BT 297.34 355.10 Td (e also could lose a source of, or be paid reduced commissions for) Tj ET Q q 0 0 0 rg BT 557.70 355.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 343.10 Td (future sales and could lose renewal commissions for past sales. Our business could also be harmed if we fail to develop new ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 331.10 Td (carrier relationships or are unable to of) Tj ET Q q 0 0 0 rg BT 205.31 331.10 Td (fer customers a wide variety of health insurance plans. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.78 331.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.10 Td (The private health insurance industry in the U.S. has experienced a substantial amount of consolidation over the past several ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.10 Td (years, resulting in a decrease in the number of insurance carriers. In the future, it may become necessary for us to of) Tj ET Q q 0 0 0 rg BT 513.53 298.10 Td (fer ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.10 Td (insurance plans from a reduced number of insurance carriers or to derive a greater portion of our revenues from a more ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.10 Td (concentrated number of carriers as our business and the health insurance industry evolve. Should our dependence on a smaller ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.10 Td (number of insurance carriers increase, whether as a result of the termination of carrier relationships, further insurance carrier ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.10 Td (consolidation or otherwise, we may become more vulnerable to adverse changes in our relationships with our carriers, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.10 Td (particularly in states where we of) Tj ET Q q 0 0 0 rg BT 182.82 238.10 Td (fer health insurance plans from a relatively small number of carriers or where a small number ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.10 Td (of insurance carriers dominate the market. ) Tj ET Q q 0 0 0 rg BT 221.13 226.10 Td (The termination, amendment or consolidation of our relationship with our insurance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.10 Td (carriers could harm our business, results of operations and financial condition. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.75 214.10 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 193.10 Td (Changes and developments in the health insurance system in the United States could harm our Exchange Solutions ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 181.10 Td (business or other businesses. ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 171.42 181.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 160.10 Td (In 2010, the Federal government enacted significant reforms to healthcare legislation through Healthcare Reform. Our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 148.10 Td (Exchange Solutions business depends upon the private sector of the U.S. insurance system, its role in financing health care ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 136.10 Td (delivery) Tj ET Q q 0 0 0 rg BT 82.11 136.10 Td (, and insurance carriers) Tj ET Q q 0 0 0 rg BT 177.43 136.10 Td ( use of, and payment of commissions to, agents, brokers and other or) Tj ET Q q 0 0 0 rg BT 452.47 136.10 Td (ganizations to market and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 124.10 Td (sell individual and family health insurance plans. Healthcare Reform contains provisions that have changed and will continue ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 112.10 Td (to change the industry in which we operate in substantial ways.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.99 112.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 91.10 Td (The recent U.S. election may result in significant regulatory change and/or uncertainty) Tj ET Q q 0 0 0 rg BT 395.62 91.10 Td (. ) Tj ET Q q 0 0 0 rg BT 400.43 91.10 Td (The new administration, and certain key ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 79.10 Td (members of Congress have expressed a desire to replace or amend all or a portion of Healthcare Reform. ) Tj ET Q q 0 0 0 rg BT 471.23 79.10 Td (Any partial or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 67.10 Td (complete repeal or amendment or implementation dif) Tj ET Q q 0 0 0 rg BT 263.08 67.10 Td (ficulties, or uncertainty regarding such events, could increase our costs of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 55.10 Td (compliance, prevent or delay future adoption of our exchange platform, and adversely impact our results of operations and ) Tj ET Q endstream endobj 53 0 obj <> endobj 54 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (26) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (financial condition. Given the uncertainty relating to the potential repeal and replacement of Healthcare Reform, the impact is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (dif) Tj ET Q q 0 0 0 rg BT 60.93 730.10 Td (ficult to determine, but it could have negative ef) Tj ET Q q 0 0 0 rg BT 253.18 730.10 Td (fects on us, including: ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.00 730.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 709.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 709.10 Td (Increasing our competition; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 199.02 709.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 688.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 688.10 Td (Reducing or eliminating the need for health insurance agents and brokers or demand for the health insurance that we ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 676.10 Td (sell; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 105.17 676.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 655.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 655.10 Td (Decreasing the number of types of health insurance plans that we sell, as well as the number of insurance carriers ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 643.10 Td (of) Tj ET Q q 0 0 0 rg BT 94.15 643.10 Td (fering such plans;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 165.24 643.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 622.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 622.10 Td (Causing insurance carriers to change the benefits and/or premiums for the plans they sell; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.44 622.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 601.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 601.10 Td (Causing insurance carriers to reduce the amount they pay for our services or change our relationship with them in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 589.10 Td (other ways; or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.71 589.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 568.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 568.10 Td (Materially restricting our call center operations. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.54 568.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 547.10 Td (Any of these ef) Tj ET Q q 0 0 0 rg BT 111.19 547.10 Td (fects could materially harm our business and results of operations. For example, the manner in which the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 535.10 Td (Federal government and the states implement health insurance exchanges and the process for receiving subsidies and cost-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 523.10 Td (sharing credits could substantially increase our competition and member turnover and substantially reduce the number of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 511.10 Td (individuals who purchase insurance through us. ) Tj ET Q q 0 0 0 rg BT 242.84 511.10 Td (V) Tj ET Q q 0 0 0 rg BT 248.95 511.10 Td (arious aspects of Healthcare Reform could cause insurance carriers to limit ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 499.10 Td (the types of health insurance plans we are able to sell and the geographies in which we are able to sell them. In addition, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 487.10 Td (U.S. Congress has been char) Tj ET Q q 0 0 0 rg BT 164.24 487.10 Td (ged with finding spending cuts, and such cuts are expected to include Medicare. If cuts are made to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 475.10 Td (Medicare, there may be substantial changes in the types of health insurance plans we are able to sell. Changes in the law could ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 463.10 Td (also cause insurance carriers to exit the business of selling insurance plans in a particular jurisdiction, to eliminate certain ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 451.10 Td (categories of products or to attempt to move members into new plans for which we receive lower commissions. If insurance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 439.10 Td (carriers decide to limit our ability to sell their plans or determine not to sell individual health insurance plans altogether) Tj ET Q q 0 0 0 rg BT 526.96 439.10 Td (, our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 427.10 Td (business, results of operations and financial condition would be materially harmed. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.64 427.10 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 406.10 Td (Our Exchange Solutions business may not grow as quickly as expected or its growth may occur faster than expected and we ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 394.10 Td (may not have the resources required to support it. ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 256.67 394.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 373.10 Td (If clients do not select private healthcare exchanges, do not select our healthcare exchange business or if clients move to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 361.10 Td (exchanges more slowly than we have anticipated, then our Exchange Solutions business and operating results may be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 349.10 Td (materially adversely af) Tj ET Q q 0 0 0 rg BT 141.44 349.10 Td (fected. If, conversely) Tj ET Q q 0 0 0 rg BT 227.69 349.10 Td (, revenues from our Exchange Solutions business do grow significantly) Tj ET Q q 0 0 0 rg BT 511.99 349.10 Td (, there is the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 337.10 Td (risk that we do not have the resources required to support such growth in revenues. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.86 337.10 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 316.10 Td (Our quarterly revenues could fluctuate, including as a result of factors outside of our control, while our expenses are ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 304.10 Td (relatively fixed. ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 115.81 304.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 283.10 Td (Quarterly variations in our revenues and results of operations have occurred in the past and could occur as a result of a number ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 271.10 Td (of factors, such as: the significance of client engagements commenced and completed during a quarter; seasonality of certain ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 259.10 Td (types of services; the number of business days in a quarter; colleague hiring and utilization rates; our clients) Tj ET Q q 0 0 0 rg BT 484.41 259.10 Td ( ability to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 247.10 Td (terminate engagements without penalty; the size and scope of assignments; and general economic conditions. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.59 247.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.10 Td (A) Tj ET Q q 0 0 0 rg BT 56.67 226.10 Td ( sizeable portion of our total operating expenses is relatively fixed, encompassing the majority of administrative, occupancy) Tj ET Q q 0 0 0 rg BT 551.43 226.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.10 Td (communications and other expenses, depreciation and amortization, and salaries and employee benefits excluding fiscal year) Tj ET Q q 0 0 0 rg BT 549.06 214.10 Td (-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 202.10 Td (end incentive bonuses. ) Tj ET Q q 0 0 0 rg BT 143.13 202.10 Td (Therefore, a variation in the number of client assignments or in the timing of the initiation or the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 190.10 Td (completion of client assignments or our inability to forecast demand can cause significant variations in quarterly operating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 178.10 Td (results and could result in losses and volatility in our stock price. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.90 178.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 157.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 157.10 Td (e derive significant revenues from commissions for brokerage services and do not determine the insurance premiums on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 145.10 Td (which our commissions are generally based. Commission levels generally follow the same trend as premium levels, as they are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 133.10 Td (a percentage of the premiums paid by the insureds. Fluctuations in the premiums char) Tj ET Q q 0 0 0 rg BT 392.50 133.10 Td (ged by the insurance carriers can ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 121.10 Td (therefore have a direct and potentially material impact on our results of operations. Due to the cyclical nature of the insurance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 109.10 Td (market and the impact of other market conditions on insurance premiums, commission levels may vary widely between ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 97.10 Td (accounting periods. ) Tj ET Q q 0 0 0 rg BT 130.26 97.10 Td (A) Tj ET Q q 0 0 0 rg BT 136.93 97.10 Td ( period of low or declining premium rates, generally known as a soft) Tj ET Q q 0 0 0 rg BT 416.94 97.10 Td ( or softening) Tj ET Q q 0 0 0 rg BT 473.40 97.10 Td ( market, generally ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 85.10 Td (leads to downward pressure on commission revenues and can have a material adverse impact on our commission revenues and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 73.10 Td (operating mar) Tj ET Q q 0 0 0 rg BT 105.63 73.10 Td (gin. ) Tj ET Q q 0 0 0 rg BT 123.23 73.10 Td (W) Tj ET Q q 0 0 0 rg BT 131.87 73.10 Td (e have been and continue to be negatively impacted by soft market conditions across certain sectors and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 61.10 Td (geographic regions. In addition, insurance carriers may seek to reduce their expenses by reducing the commission rates payable ) Tj ET Q endstream endobj 55 0 obj <> endobj 56 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (27) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (to insurance agents or brokers such as ourselves. ) Tj ET Q q 0 0 0 rg BT 246.71 742.10 Td (The reduction of these commission rates, along with general volatility and/or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (declines in premiums, may significantly undermine our profitability) Tj ET Q q 0 0 0 rg BT 320.96 730.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 325.96 730.10 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 709.10 Td (Accepting market derived income \(MDI\) may cause regulatory or other scrutiny) Tj ET Q q 0 0 0 rg BT 378.49 709.10 Td (, which may have a material adverse ef) Tj ET Q q 0 0 0 rg BT 538.29 709.10 Td (fect ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 697.10 Td (on our business. ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 120.03 697.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 676.10 Td (Insurance intermediaries have traditionally been remunerated by commission or fees paid by clients. Intermediaries also obtain ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 664.10 Td (revenue from insurance carriers. ) Tj ET Q q 0 0 0 rg BT 181.69 664.10 Td (This is commonly known as market derived income or MDI. MDI takes a variety of forms, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 652.10 Td (including volume- or profit-based contingent commissions, facilities administration char) Tj ET Q q 0 0 0 rg BT 403.91 652.10 Td (ges, business development agreements, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 640.10 Td (and fees for providing certain data to carriers. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 235.20 640.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 619.10 Td (MDI creates various risks. Intermediaries have a duty to act in the best interests of their clients and payments from carriers can ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 607.10 Td (incentivize intermediaries to put carriers) Tj ET Q q 0 0 0 rg BT 214.18 607.10 Td ( interests ahead of their clients. ) Tj ET Q q 0 0 0 rg BT 340.53 607.10 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 389.87 607.10 Td (, MDI may be subject to scrutiny by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 595.10 Td (various regulators under conflict of interest, anti-trust, unfair competition, and anti-bribery laws and regulations. ) Tj ET Q q 0 0 0 rg BT 501.91 595.10 Td (While ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 583.10 Td (accepting MDI is a lawful and acceptable business practice, and while we have established systems and controls to manage ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 571.10 Td (these risks, we cannot predict whether our position will result in regulatory or other scrutiny) Tj ET Q q 0 0 0 rg BT 417.87 571.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.87 571.10 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (New product or service of) Tj ET Q q 0 0 0 rg BT 155.36 550.10 Td (ferings may carry greater risk of liability and regulatory action than existing or historical product ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (or service of) Tj ET Q q 0 0 0 rg BT 100.36 538.10 Td (ferings or may fail to yield suf) Tj ET Q q 0 0 0 rg BT 224.06 538.10 Td (ficient return to cover their investment. ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 387.66 538.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 517.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 517.10 Td (e continue to grow the business of providing products and services to institutional investors, financial services companies and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 505.10 Td (other clients. ) Tj ET Q q 0 0 0 rg BT 103.97 505.10 Td (The risk of claims from these lines of business and related products and services may be greater than from our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 493.10 Td (core businesses, and such claims may be for significant amounts. In addition, with respect to some of these new ventures, we ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 481.10 Td (may enter into arrangements that need to be examined to determine whether they fall under the variable interest entity ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 469.10 Td (accounting guidance. ) Tj ET Q q 0 0 0 rg BT 137.29 469.10 Td (The structure of such arrangements could require us to consolidate assets or liabilities on which we do not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 457.10 Td (have risk of loss. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.27 457.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 436.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 436.10 Td (e may also invest significant time and resources into new product or service of) Tj ET Q q 0 0 0 rg BT 372.53 436.10 Td (ferings and there is the possibility that these ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 424.10 Td (of) Tj ET Q q 0 0 0 rg BT 58.15 424.10 Td (ferings may fail to yield suf) Tj ET Q q 0 0 0 rg BT 168.77 424.10 Td (ficient return to cover their investment. Failure to successfully manage these risks in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 412.10 Td (development and implementation of new lines of business and new products and services could have a material adverse ef) Tj ET Q q 0 0 0 rg BT 538.55 412.10 Td (fect ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 400.10 Td (on our business, financial condition or results of operations. External factors, such as compliance with regulations, competitive ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 388.10 Td (alternatives and shifting market preferences, may also impact the successful implementation of a new line of business. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.18 388.10 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 367.10 Td (Our business performance and growth plans could be negatively af) Tj ET Q q 0 0 0 rg BT 325.67 367.10 Td (fected if we are not able to ef) Tj ET Q q 0 0 0 rg BT 444.06 367.10 Td (fectively apply technology ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 355.10 Td (and analytics to drive value for our clients through technology-based solutions or gain internal ef) Tj ET Q q 0 0 0 rg BT 450.97 355.10 Td (ficiencies through the ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 343.10 Td (ef) Tj ET Q q 0 0 0 rg BT 57.59 343.10 Td (fective application of technology) Tj ET Q q 0 0 0 rg BT 190.80 343.10 Td (, analytics and related tools. ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 308.30 343.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.10 Td (Our success depends, in part, on our ability to develop and implement technology and analytic solutions that anticipate, lead or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.10 Td (keep pace with rapid and continuing changes in technology) Tj ET Q q 0 0 0 rg BT 286.50 310.10 Td (, industry standards and client preferences. ) Tj ET Q q 0 0 0 rg BT 459.59 310.10 Td (W) Tj ET Q q 0 0 0 rg BT 468.23 310.10 Td (e may not be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.10 Td (successful in anticipating or responding to these developments in a timely and cost-ef) Tj ET Q q 0 0 0 rg BT 391.95 298.10 Td (fective manner) Tj ET Q q 0 0 0 rg BT 451.24 298.10 Td (, and our ideas may not be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.10 Td (accepted in the marketplace. ) Tj ET Q q 0 0 0 rg BT 165.77 286.10 Td (Additionally) Tj ET Q q 0 0 0 rg BT 215.67 286.10 Td (, the ef) Tj ET Q q 0 0 0 rg BT 242.98 286.10 Td (fort to gain technological expertise and develop new technologies or analytic ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.10 Td (techniques in our business requires us to incur significant cost. Our competitors are seeking to develop competing technologies, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.10 Td (and their success in this space may impact our ability to dif) Tj ET Q q 0 0 0 rg BT 286.70 262.10 Td (ferentiate our services to our clients through the use of unique ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.10 Td (technological solutions. If we cannot of) Tj ET Q q 0 0 0 rg BT 208.11 250.10 Td (fer new technologies or analytic services or solutions as quickly or ef) Tj ET Q q 0 0 0 rg BT 484.79 250.10 Td (fectively as our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.10 Td (competitors, or if our competitors develop more cost-ef) Tj ET Q q 0 0 0 rg BT 271.42 238.10 Td (fective technologies or analytic tools, it could have a material adverse ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.10 Td (ef) Tj ET Q q 0 0 0 rg BT 57.59 226.10 Td (fect on our ability to obtain and complete client engagements. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.23 226.10 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 205.10 Td (Limited protection of our intellectual property could harm our business, and we face the risk that our services or products ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 193.10 Td (may infringe upon the intellectual property rights of others.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 295.30 193.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 172.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 172.10 Td (e cannot guarantee that trade secret, trademark and copyright law protections are adequate to deter misappropriation of our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 160.10 Td (intellectual property \(including our software, which may become an increasingly important part of our business\). Existing laws ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 148.10 Td (of some countries in which we provide services or products may of) Tj ET Q q 0 0 0 rg BT 318.36 148.10 Td (fer only limited protection of our intellectual property rights. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 136.10 Td (Also, we may be unable to detect the unauthorized use of our intellectual property and take the necessary steps to enforce our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 124.10 Td (rights, which may have a material adverse impact on our business, financial condition or results of operations. ) Tj ET Q q 0 0 0 rg BT 492.48 124.10 Td (W) Tj ET Q q 0 0 0 rg BT 501.11 124.10 Td (e cannot be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 112.10 Td (sure that our services and products, or the products of others that we of) Tj ET Q q 0 0 0 rg BT 333.63 112.10 Td (fer to our clients, do not infringe on the intellectual ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 100.10 Td (property rights of third parties, and we may have infringement claims asserted against us or our clients. ) Tj ET Q q 0 0 0 rg BT 464.98 100.10 Td (These claims may harm ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 88.10 Td (our reputation, result in financial liability) Tj ET Q q 0 0 0 rg BT 214.31 88.10 Td (, consume financial resources to pursue or defend, and prevent us from of) Tj ET Q q 0 0 0 rg BT 508.47 88.10 Td (fering some ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 76.10 Td (services or products.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 132.48 76.10 Td ( ) Tj ET Q endstream endobj 57 0 obj <> endobj 58 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (28) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (Financial and ) Tj ET Q q 0 0 0 rg BT 110.95 742.25 Td (T) Tj ET Q q 0 0 0 rg BT 116.70 742.25 Td (ax Risks ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 155.04 742.25 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 721.25 Td (Our outstanding debt could adversely af) Tj ET Q q 0 0 0 rg BT 214.55 721.25 Td (fect our cash flows and financial flexibility and we may not be able to obtain ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 709.25 Td (financing on favorable terms or at all.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 206.95 709.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 688.25 Td (W) Tj ET Q q 0 0 0 rg BT 59.04 688.25 Td (illis ) Tj ET Q q 0 0 0 rg BT 76.36 688.25 Td (T) Tj ET Q q 0 0 0 rg BT 81.77 688.25 Td (owers ) Tj ET Q q 0 0 0 rg BT 107.97 688.25 Td (W) Tj ET Q q 0 0 0 rg BT 116.61 688.25 Td (atson had total consolidated debt outstanding of approximately $3.9 billion as of December31, 2016, and our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 676.25 Td (interest expense was $184 million for the year ended December31, 2016.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.63 676.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 655.25 Td (Although management believes that our cash flows will be suf) Tj ET Q q 0 0 0 rg BT 299.48 655.25 Td (ficient to service this debt, there may be circumstances in which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 643.25 Td (required payments of principal and/or interest on this debt could adversely af) Tj ET Q q 0 0 0 rg BT 357.78 643.25 Td (fect our cash flows and this level of indebtedness ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 631.25 Td (may: ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.50 631.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 610.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 610.25 Td (require us to dedicate a significant portion of our cash flow from operations to payments on our debt, thereby reducing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 598.25 Td (the availability of cash flow to fund capital expenditures, to pursue other acquisitions or investments, to pay dividends ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 586.25 Td (and for general corporate purposes; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 230.11 586.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 565.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 565.25 Td (increase our vulnerability to general adverse economic conditions, including if we borrow at variable interest rates, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 553.25 Td (which makes us vulnerable to increases in interest rates generally; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.57 553.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 532.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 532.25 Td (limit our flexibility in planning for) Tj ET Q q 0 0 0 rg BT 224.19 532.25 Td (, or reacting to, changes or challenges relating to our business and industry; and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.22 532.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 511.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 511.25 Td (put us at a competitive disadvantage against competitors who have less indebtedness or are in a more favorable ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 499.25 Td (position to access additional capital resources. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.44 499.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.25 Td (The terms of our current financings also include certain limitations. For example, the agreements relating to the debt ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.25 Td (arrangements and credit facilities contain numerous operating and financial covenants, including requirements to maintain ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.25 Td (minimum ratios of consolidated EBITDA) Tj ET Q q 0 0 0 rg BT 216.09 454.25 Td ( to consolidated cash interest expense and maximum levels of consolidated funded ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.25 Td (indebtedness in relation to consolidated EBITDA, in each case subject to certain adjustments. ) Tj ET Q q 0 0 0 rg BT 429.16 442.25 Td (The operating restrictions and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.25 Td (financial covenants in our credit facilities do, and any future financing agreements may) Tj ET Q q 0 0 0 rg BT 398.38 430.25 Td (, limit our ability to finance future ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.25 Td (operations or capital needs or to engage in other business activities.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.64 418.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 397.25 Td (A) Tj ET Q q 0 0 0 rg BT 56.67 397.25 Td ( failure to comply with the restrictions under our credit facilities and outstanding notes could result in a default under the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 385.25 Td (financing obligations or could require us to obtain waivers from our lenders for failure to comply with these restrictions. ) Tj ET Q q 0 0 0 rg BT 533.58 385.25 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 373.25 Td (occurrence of a default that is not cured or the inability to secure a necessary consent or waiver could cause our obligations ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 361.25 Td (with respect to our debt to be accelerated and have a material adverse ef) Tj ET Q q 0 0 0 rg BT 337.73 361.25 Td (fect on our business, financial condition or results of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 349.25 Td (operations. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 96.66 349.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 328.25 Td (The maintenance and growth of our business depends on our access to capital, which will depend in lar) Tj ET Q q 0 0 0 rg BT 462.48 328.25 Td (ge part on cash flow ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 316.25 Td (generated by our business and the availability of equity and debt financing. ) Tj ET Q q 0 0 0 rg BT 352.79 316.25 Td (There can be no assurance that our operations will ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 304.25 Td (generate suf) Tj ET Q q 0 0 0 rg BT 98.40 304.25 Td (ficient positive cash flow to finance all of our capital needs or that we will be able to obtain equity or debt ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 292.25 Td (financing on favorable terms or at all, which could have a material adverse ef) Tj ET Q q 0 0 0 rg BT 359.13 292.25 Td (fect on us.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.51 292.25 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 271.25 Td (Our significant non-U.S. operations, particularly our London market operations, expose us to exchange rate fluctuations ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 259.25 Td (and various other risks that could impact our business. ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 278.38 259.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.25 Td (A) Tj ET Q q 0 0 0 rg BT 56.67 238.25 Td ( significant portion of our operations is conducted outside of the U.S. ) Tj ET Q q 0 0 0 rg BT 338.01 238.25 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 387.35 238.25 Td (, we are subject to legal, economic and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.25 Td (market risks associated with operating in foreign countries, including devaluations and fluctuations in currency exchange rates; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.25 Td (imposition of limitations on conversion of foreign currencies into Pounds sterling or U.S. dollars or remittance of dividends and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 202.25 Td (other payments by foreign subsidiaries; hyperinflation in certain foreign countries; imposition or increase of investment and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 190.25 Td (other restrictions by foreign governments; and the requirement of complying with a wide variety of foreign laws. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.32 190.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 169.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 169.25 Td (e report our operating results and financial condition in U.S. dollars. Our U.S. operations earn revenues and incur expenses ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 157.25 Td (primarily in U.S. dollars. In our London market operations, however) Tj ET Q q 0 0 0 rg BT 323.71 157.25 Td (, we earn revenues in a number of dif) Tj ET Q q 0 0 0 rg BT 472.63 157.25 Td (ferent currencies, but ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 145.25 Td (expenses are almost entirely incurred in Pounds sterling. Outside of the U.S. and our London market operations, we ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 133.25 Td (predominantly generate revenues and expenses in local currencies.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.55 133.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 112.25 Td (Because of devaluations and fluctuations in currency exchange rates or the imposition of limitations on conversion of foreign ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 100.25 Td (currencies into U.S. dollars, we are subject to currency translation exposure on the profits of our operations, in addition to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 88.25 Td (economic exposure. Furthermore, the mismatch between Pounds sterling revenues and expenses, together with any net Pound ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 76.25 Td (sterling balance sheet position we hold in our U.S. dollar denominated London market operations, creates an exchange ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 64.25 Td (exposure. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 91.10 64.25 Td ( ) Tj ET Q endstream endobj 59 0 obj <> endobj 60 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (29) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (A) Tj ET Q q 0 0 0 rg BT 56.12 742.25 Td ( downgrade to our corporate credit rating and the credit ratings of our outstanding debt may adversely af) Tj ET Q q 0 0 0 rg BT 487.34 742.25 Td (fect our ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 730.25 Td (borrowing costs and financial flexibility and, under certain circumstances, may require us to of) Tj ET Q q 0 0 0 rg BT 442.34 730.25 Td (fer to buy back some of our ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 718.25 Td (outstanding debt.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 121.13 718.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 697.25 Td (A) Tj ET Q q 0 0 0 rg BT 56.67 697.25 Td ( downgrade in our corporate credit rating or the credit ratings of our debt would increase our borrowing costs including those ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 685.25 Td (under our credit facilities, and reduce our financial flexibility) Tj ET Q q 0 0 0 rg BT 293.97 685.25 Td (. In addition, certain downgrades would trigger a step-up in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 673.25 Td (interest rates under the indentures for certain of our senior notes, which would increase our interest expense. If we need to raise ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 661.25 Td (capital in the future, any credit rating downgrade could negatively af) Tj ET Q q 0 0 0 rg BT 324.43 661.25 Td (fect our financing costs or access to financing sources.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.41 661.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 640.25 Td (In addition, under the indenture for our 4.625% senior notes due 2023, our 6.125% senior notes due 2043, our 3.500% senior ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 628.25 Td (notes due 2021, our 4.400% senior notes due 2026, and our 2.125% senior notes due 2022, if we experience a ratings decline ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 616.25 Td (together with a change of control event, we would be required to of) Tj ET Q q 0 0 0 rg BT 319.45 616.25 Td (fer to purchase these notes from holders unless we had ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 604.25 Td (previously redeemed those notes. ) Tj ET Q q 0 0 0 rg BT 185.62 604.25 Td (W) Tj ET Q q 0 0 0 rg BT 194.25 604.25 Td (e may not have suf) Tj ET Q q 0 0 0 rg BT 269.60 604.25 Td (ficient funds available or access to funding to repurchase tendered notes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 592.25 Td (in that event, which could result in a default under the notes. ) Tj ET Q q 0 0 0 rg BT 293.82 592.25 Td (Any future debt that we incur may contain covenants regarding ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 580.25 Td (repurchases in the event of a change of control triggering event. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.68 580.25 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 559.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.15 559.25 Td (e have material pension liabilities that can fluctuate significantly) Tj ET Q q 0 0 0 rg BT 325.00 559.25 Td (.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 327.50 559.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 538.25 Td (e have material pension liabilities, some of which represent unfunded and underfunded pension and postretirement liabilities. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.25 Td (Movements in the interest rate environment, inflation or changes in other assumptions that are used for the estimates of our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.25 Td (benefit obligations and other factors could have a material ef) Tj ET Q q 0 0 0 rg BT 292.78 514.25 Td (fect on the level of liabilities in these plans at any given time. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.25 Td (These pension plans have minimum funding requirements that may require material amounts of periodic additional funding. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.25 Td (The need to make additional cash contributions may reduce our financial flexibility and increase liquidity risk by reducing the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.25 Td (cash available to meet our other obligations, including the payment obligations under our credit facilities and other long-term ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.25 Td (debt, or other needs of our business. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.91 466.25 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 445.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.15 445.25 Td (e are a holding company and, therefore, may not be able to receive dividends or other distributions in needed amounts ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 433.25 Td (from our subsidiaries. ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 143.35 433.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 412.25 Td (The Company is or) Tj ET Q q 0 0 0 rg BT 126.75 412.25 Td (ganized as a holding company) Tj ET Q q 0 0 0 rg BT 247.18 412.25 Td (, a legal entity separate and distinct from our operating subsidiaries. ) Tj ET Q q 0 0 0 rg BT 520.16 412.25 Td (As a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 400.25 Td (holding company without significant operations of our own, we are dependent upon dividends and other payments from our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 388.25 Td (operating subsidiaries to meet our obligations for paying principal and interest on outstanding debt obligations, for paying ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 376.25 Td (dividends to shareholders, for repurchasing shares of common stock and for corporate expenses. Legal and regulatory ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 364.25 Td (restrictions, foreign exchange controls, as well as operating requirements of our subsidiaries, may limit our ability to obtain ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 352.25 Td (cash from these subsidiaries. For example, ) Tj ET Q q 0 0 0 rg BT 222.55 352.25 Td (W) Tj ET Q q 0 0 0 rg BT 231.59 352.25 Td (illis Limited, our U.K. brokerage subsidiary regulated by the FCA, is currently ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 340.25 Td (required to maintain $140 million in unencumbered and available funds, of which at least $79 million must be in cash, for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 328.25 Td (regulatory purposes. In the event our operating subsidiaries are unable to pay dividends and other payments to the Company) Tj ET Q q 0 0 0 rg BT 546.17 328.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 316.25 Td (we may not be able to service debt, pay obligations or pay dividends on, or repurchase shares of, common stock. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.66 316.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 295.25 Td (In the event we are unable to generate cash from our operating subsidiaries for any of the reasons discussed above, our overall ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 283.25 Td (liquidity could deteriorate. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 158.86 283.25 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 262.25 Td (Changes in our accounting estimates and assumptions could negatively af) Tj ET Q q 0 0 0 rg BT 354.58 262.25 Td (fect our financial position and results of ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 250.25 Td (operations. ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 98.34 250.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 229.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 229.25 Td (e prepare our financial statements in accordance with accounting principles generally accepted in the United States of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 217.25 Td (America \(U.S. GAAP\). ) Tj ET Q q 0 0 0 rg BT 155.07 217.25 Td (These accounting principles require us to make estimates and assumptions that af) Tj ET Q q 0 0 0 rg BT 480.08 217.25 Td (fect the reported ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 205.25 Td (amounts of assets and liabilities, and the disclosure of contingent assets and liabilities at the date of our financial statements. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 193.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 193.25 Td (e are also required to make certain judgments that af) Tj ET Q q 0 0 0 rg BT 268.09 193.25 Td (fect the reported amounts of revenues and expenses during each ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 181.25 Td (reporting period. ) Tj ET Q q 0 0 0 rg BT 119.52 181.25 Td (W) Tj ET Q q 0 0 0 rg BT 128.16 181.25 Td (e periodically evaluate our estimates and assumptions, including those relating to revenue recognition, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 169.25 Td (valuation of billed and unbilled receivables from clients, discretionary compensation, incurred but not reported liabilities, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 157.25 Td (restructuring, pensions, goodwill and other intangible assets, contingencies, share-based payments and income taxes. ) Tj ET Q q 0 0 0 rg BT 519.70 157.25 Td (W) Tj ET Q q 0 0 0 rg BT 528.33 157.25 Td (e base ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 145.25 Td (our estimates on historical experience and various assumptions that we believe to be reasonable based on specific ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 133.25 Td (circumstances. ) Tj ET Q q 0 0 0 rg BT 111.09 133.25 Td (Actual results could dif) Tj ET Q q 0 0 0 rg BT 204.50 133.25 Td (fer from these estimates, and changes in accounting standards could have an adverse ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 121.25 Td (impact on our future financial position and results of operations. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.66 121.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 100.25 Td (In addition, we have a substantial amount of goodwill on our balance sheet as a result of acquisitions we have completed, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 88.25 Td (we significantly increased goodwill as a result of the Mer) Tj ET Q q 0 0 0 rg BT 279.47 88.25 Td (ger) Tj ET Q q 0 0 0 rg BT 291.69 88.25 Td (. ) Tj ET Q q 0 0 0 rg BT 296.51 88.25 Td (W) Tj ET Q q 0 0 0 rg BT 305.15 88.25 Td (e review goodwill for impairment annually or whenever events ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 76.25 Td (or circumstances indicate impairment may have occurred. ) Tj ET Q q 0 0 0 rg BT 283.24 76.25 Td (Application of the impairment test requires judgment, including the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 64.25 Td (identification of reporting units, assignment of assets, liabilities and goodwill to reporting units and the determination of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 52.25 Td (fair value of each reporting unit. ) Tj ET Q q 0 0 0 rg BT 181.34 52.25 Td (A) Tj ET Q q 0 0 0 rg BT 188.01 52.25 Td ( significant deterioration in a key estimate or assumption or a less significant deterioration to ) Tj ET Q endstream endobj 61 0 obj <> endobj 62 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (30) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (a combination of assumptions or the sale of a part of a reporting unit could result in an impairment char) Tj ET Q q 0 0 0 rg BT 463.87 742.10 Td (ge in the future, which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (could have a significant adverse impact on our reported earnings.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.02 730.10 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 709.10 Td (Legislative or regulatory action in the U.S. or abroad could materially adversely af) Tj ET Q q 0 0 0 rg BT 389.24 709.10 Td (fect our ability to maintain a competitive ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 697.10 Td (worldwide ef) Tj ET Q q 0 0 0 rg BT 102.31 697.10 Td (fective corporate tax rate.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 207.28 697.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 676.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 676.10 Td (e cannot give any assurance as to what our ef) Tj ET Q q 0 0 0 rg BT 239.22 676.10 Td (fective tax rate will be in the future, because of, among other things, uncertainty ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 664.10 Td (regarding the tax policies of the jurisdictions where we operate. Our actual ef) Tj ET Q q 0 0 0 rg BT 361.37 664.10 Td (fective tax rate may vary from expectations and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 652.10 Td (that variance may be material. ) Tj ET Q q 0 0 0 rg BT 172.72 652.10 Td (Additionally) Tj ET Q q 0 0 0 rg BT 222.62 652.10 Td (, the tax laws of Ireland and other jurisdictions could change in the future, and such ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 640.10 Td (changes could cause a material change in our ef) Tj ET Q q 0 0 0 rg BT 240.84 640.10 Td (fective tax rate. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.24 640.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 619.10 Td (Legislative action may be taken by the U.S. Congress which, if ultimately enacted, could limit the availability of tax benefits or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 607.10 Td (deductions that we currently claim, override tax treaties upon which we rely) Tj ET Q q 0 0 0 rg BT 353.69 607.10 Td (, or otherwise af) Tj ET Q q 0 0 0 rg BT 418.48 607.10 Td (fect the taxes that the U.S. imposes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 595.10 Td (on our worldwide operations. Regulations or administrative guidance from the U.S. ) Tj ET Q q 0 0 0 rg BT 386.42 595.10 Td (T) Tj ET Q q 0 0 0 rg BT 392.17 595.10 Td (reasury Department could have similar ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 583.10 Td (consequences. Such changes could materially adversely af) Tj ET Q q 0 0 0 rg BT 283.34 583.10 Td (fect our ef) Tj ET Q q 0 0 0 rg BT 324.24 583.10 Td (fective tax rate and/or require us to take further action, at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 571.10 Td (potentially significant additional expense, to seek to preserve our ef) Tj ET Q q 0 0 0 rg BT 320.29 571.10 Td (fective tax rate. In addition, if proposals were enacted that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 559.10 Td (have the ef) Tj ET Q q 0 0 0 rg BT 93.68 559.10 Td (fect of limiting our ability as an Irish company to take advantage of tax treaties with the U.S., we could incur ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 547.10 Td (additional tax expense and/or otherwise incur business detriment. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.10 547.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (In addition, the U.S. Congress, the Or) Tj ET Q q 0 0 0 rg BT 200.91 526.10 Td (ganisation for Economic Co-operation and Development and other government agencies ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (in jurisdictions where we and our af) Tj ET Q q 0 0 0 rg BT 193.67 514.10 Td (filiates do business have had an extended focus on issues related to the taxation of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (multinational corporations. One example is in the area of base erosion and profit shifting, where payments are made between ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td (af) Tj ET Q q 0 0 0 rg BT 57.59 490.10 Td (filiates from a jurisdiction with high tax rates to a jurisdiction with lower tax rates. In October 2015, the Or) Tj ET Q q 0 0 0 rg BT 485.91 490.10 Td (ganisation for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (Economic Co-operation and Development released final reports addressing fifteen specific actions as part of a comprehensive ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.10 Td (plan to create an agreed set of international rules for fighting base erosion and profit shifting. ) Tj ET Q q 0 0 0 rg BT 424.05 466.10 Td (As a result, the tax laws in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.10 Td (U.S., Ireland, and other countries in which we and our af) Tj ET Q q 0 0 0 rg BT 276.97 454.10 Td (filiates do business could change on a prospective or retroactive basis, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (and any such changes could adversely af) Tj ET Q q 0 0 0 rg BT 212.53 442.10 Td (fect us and our af) Tj ET Q q 0 0 0 rg BT 281.77 442.10 Td (filiates.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.48 442.10 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 421.10 Td (The laws of Ireland dif) Tj ET Q q 0 0 0 rg BT 144.27 421.10 Td (fer from the laws in ef) Tj ET Q q 0 0 0 rg BT 235.47 421.10 Td (fect in the United States and may af) Tj ET Q q 0 0 0 rg BT 382.23 421.10 Td (ford less protection to holders of our ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 409.10 Td (securities. ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 93.89 409.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 388.10 Td (It may not be possible to enforce court judgments obtained in the U.S. against us in Ireland, based on the civil liability ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 376.10 Td (provisions of the U.S. federal or state securities laws. In addition, there is some uncertainty as to whether the courts of Ireland ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 364.10 Td (would recognize or enforce judgments of U.S. courts obtained against us or our directors or of) Tj ET Q q 0 0 0 rg BT 426.66 364.10 Td (ficers based on the civil liabilities ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 352.10 Td (provisions of the U.S. federal or state securities laws or hear actions against us or those persons based on those laws. ) Tj ET Q q 0 0 0 rg BT 518.60 352.10 Td (W) Tj ET Q q 0 0 0 rg BT 527.24 352.10 Td (e have ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 340.10 Td (been advised that the U.S. currently does not have a treaty with Ireland providing for the reciprocal recognition and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 328.10 Td (enforcement of judgments in civil and commercial matters. ) Tj ET Q q 0 0 0 rg BT 288.91 328.10 Td (Therefore, a final judgment for the payment of money rendered by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 316.10 Td (any U.S. federal or state court based on civil liability) Tj ET Q q 0 0 0 rg BT 260.68 316.10 Td (, whether or not based solely on U.S. federal or state securities laws, would ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 304.10 Td (not automatically be enforceable in Ireland. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 226.87 304.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 283.10 Td (As an Irish company) Tj ET Q q 0 0 0 rg BT 132.39 283.10 Td (, we are governed by the Irish Companies ) Tj ET Q q 0 0 0 rg BT 300.95 283.10 Td (Act, which dif) Tj ET Q q 0 0 0 rg BT 358.26 283.10 Td (fers in some material respects from laws generally ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 271.10 Td (applicable to U.S. corporations and shareholders, including, among others, dif) Tj ET Q q 0 0 0 rg BT 361.97 271.10 Td (ferences relating to interested director and of) Tj ET Q q 0 0 0 rg BT 541.15 271.10 Td (ficer ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 259.10 Td (transactions and shareholder lawsuits. Likewise, the duties of directors and of) Tj ET Q q 0 0 0 rg BT 360.29 259.10 Td (ficers of an Irish company generally are owed to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 247.10 Td (the company only) Tj ET Q q 0 0 0 rg BT 121.00 247.10 Td (. Shareholders of Irish companies generally do not have a personal right of action against directors or of) Tj ET Q q 0 0 0 rg BT 536.25 247.10 Td (ficers ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 235.10 Td (of the company and may exercise such rights of action on behalf of the company only in limited circumstances. ) Tj ET Q q 0 0 0 rg BT 497.65 235.10 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 546.98 235.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 223.10 Td (holders of our securities may have more dif) Tj ET Q q 0 0 0 rg BT 223.93 223.10 Td (ficulty protecting their interests than would holders of securities of a corporation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 211.10 Td (incorporated in a jurisdiction of the United States. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 252.45 211.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 190.10 Td (ITEM1B. UNRESOL) Tj ET Q q 0 0 0 rg BT 143.27 190.10 Td (VED ST) Tj ET Q q 0 0 0 rg BT 178.37 190.10 Td (AFF) Tj ET Q q 0 0 0 rg BT 197.44 190.10 Td ( COMMENTS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 169.10 Td (None.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 74.16 169.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 148.10 Td (ITEM 2. PROPER) Tj ET Q q 0 0 0 rg BT 129.93 148.10 Td (TIES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 127.10 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.44 127.10 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 153.03 127.10 Td (, we operated of) Tj ET Q q 0 0 0 rg BT 217.26 127.10 Td (fices in many countries and territories throughout the world and believe that our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 115.10 Td (properties are generally suitable and adequate for the purposes for which they are used. ) Tj ET Q q 0 0 0 rg BT 401.07 115.10 Td (The principal properties are located in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 103.10 Td (the United States and the United Kingdom. Operations of each of our segments are carried out in owned or leased of) Tj ET Q q 0 0 0 rg BT 515.51 103.10 Td (fices under ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 91.10 Td (operating leases that typically do not exceed 10 years in length except for certain properties in key locations. ) Tj ET Q q 0 0 0 rg BT 486.61 91.10 Td (W) Tj ET Q q 0 0 0 rg BT 495.25 91.10 Td (e do not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 79.10 Td (anticipate dif) Tj ET Q q 0 0 0 rg BT 102.29 79.10 Td (ficulty in meeting our space needs at lease expiration. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 60.10 Td (The fixed assets owned by us represented approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 278.82 60.10 Td (3%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.15 60.10 Td ( of total assets as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.24 60.10 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.83 60.10 Td ( and consisted primarily of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 48.10 Td (furniture and equipment, leasehold improvements, computer software, internally developed software and land and buildings.) Tj ET Q 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 (31) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (ITEM3. LEGAL) Tj ET Q q 0 0 0 rg BT 123.63 742.25 Td ( PROCEEDINGS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 721.25 Td (From time to time, we are party to various lawsuits, arbitrations or mediations that arise in the ordinary course of business. ) Tj ET Q q 0 0 0 rg BT 545.54 721.25 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 709.25 Td (disclosure called for by Item 3 regarding our legal proceedings is incorporated by reference herein from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.61 709.25 Td (Note 13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.55 709.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 697.25 Td (Commitments and Contingencies) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 183.32 697.25 Td (, within Item 8 in this ) Tj ET Q q 0 0 0 rg BT 271.38 697.25 Td (Annual Report on Form 10-K.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 676.25 Td (ITEM 4. MINE SAFETY) Tj ET Q q 0 0 0 rg BT 157.97 676.25 Td ( DISCLOSURES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 655.25 Td (Not applicable.) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 50.00 633.05 Td (P) Tj ET Q q 0 0 0 rg BT 55.90 633.05 Td (AR) Tj ET Q q 0 0 0 rg BT 71.40 633.05 Td (T) Tj ET Q q 0 0 0 rg BT 78.54 633.05 Td ( II.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 612.05 Td (ITEM 5. MARKET) Tj ET Q q 0 0 0 rg BT 133.99 612.05 Td ( FOR REGISTRANTS COMMON EQUITY) Tj ET Q q 0 0 0 rg BT 327.53 612.05 Td (, RELA) Tj ET Q q 0 0 0 rg BT 359.57 612.05 Td (TED ST) Tj ET Q q 0 0 0 rg BT 394.68 612.05 Td (OCKHOLDER MA) Tj ET Q q 0 0 0 rg BT 479.22 612.05 Td (TTERS ) Tj ET Q q 0 0 0 rg BT 513.96 612.05 Td (AND ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 600.05 Td (ISSUER PURCHASES OF) Tj ET Q q 0 0 0 rg BT 165.21 600.05 Td ( EQUITY) Tj ET Q q 0 0 0 rg BT 206.79 600.05 Td ( SECURITIES) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 579.05 Td (Shar) Tj ET Q q 0 0 0 rg BT 70.38 579.05 Td (e Data) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 558.05 Td (Legacy ) Tj ET Q q 0 0 0 rg BT 81.74 558.05 Td (W) Tj ET Q q 0 0 0 rg BT 90.78 558.05 Td (illis) Tj ET Q q 0 0 0 rg BT 108.37 558.05 Td ( shares were traded on the New ) Tj ET Q q 0 0 0 rg BT 236.01 558.05 Td (Y) Tj ET Q q 0 0 0 rg BT 242.23 558.05 Td (ork Stock Exchange \(NYSE\) under the symbol WSH) Tj ET Q q 0 0 0 rg BT 467.27 558.05 Td ( from June1) Tj ET Q q 0 0 0 rg BT 517.16 558.05 Td (1, 2001 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 546.05 Td (through January 4, 2016. On January 4, 2016, upon completion of the Mer) Tj ET Q q 0 0 0 rg BT 347.54 546.05 Td (ger) Tj ET Q q 0 0 0 rg BT 359.91 546.05 Td (, the Company ef) Tj ET Q q 0 0 0 rg BT 428.60 546.05 Td (fected a 1 to 2.6490 reverse ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 534.05 Td (stock split to shareholders of record as of January 4, 2016. ) Tj ET Q q 0 0 0 rg BT 285.22 534.05 Td (All share and per share information has been retroactively adjusted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 522.05 Td (to reflect the reverse stock split. Our shares began trading on the NASDAQ Global Select Market under the symbol WL) Tj ET Q q 0 0 0 rg BT 534.78 522.05 Td (TW) Tj ET Q q 0 0 0 rg BT 552.92 522.05 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 510.05 Td (on January 5, 2016. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 489.05 Td (The high and low sale prices of our shares, as reported by the NYSE or the NASDAQ, are set forth below for the periods ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 477.05 Td (indicated.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 454.55 392.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 454.55 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 454.55 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 454.55 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 426.55 392.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 426.55 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 426.55 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 426.55 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 398.55 392.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 398.55 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 398.55 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 398.55 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 370.55 392.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 370.55 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 370.55 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 370.55 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 342.55 392.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 342.55 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 342.55 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 342.55 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 314.55 392.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 314.55 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 314.55 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 314.55 58.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 454.55 m 500.5 454.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 454.55 m 562.5 454.55 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 460.40 457.28 Td (High) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 523.55 457.28 Td (Low) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 445.23 Td (2015:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.00 445.12 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.00 445.12 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 431.12 Td (First Quarter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 431.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.15 431.12 Td (131.42) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 431.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 431.12 Td (113.40) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 417.12 Td (Second Quarter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 417.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.15 417.12 Td (132.34) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 417.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 417.12 Td (119.95) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 403.12 Td (Third Quarter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 403.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.15 403.12 Td (125.91) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 403.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 403.12 Td (106.57) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 389.12 Td (Fourth Quarter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 389.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.15 389.12 Td (130.97) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 389.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 389.12 Td (107.21) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 375.23 Td (2016:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 361.12 Td (First Quarter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 361.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.15 361.12 Td (126.25) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 361.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 361.12 Td (104.11) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 347.12 Td (Second Quarter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 347.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.15 347.12 Td (129.70) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 347.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 347.12 Td (112.59) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 333.12 Td (Third Quarter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 333.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.15 333.12 Td (133.40) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 333.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 333.12 Td (118.08) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 319.12 Td (Fourth Quarter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 319.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.15 319.12 Td (132.74) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 319.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 319.12 Td (112.76) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 305.23 Td (2017:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 291.12 Td (Through February 24, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 291.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.15 291.12 Td (129.13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 291.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 291.12 Td (120.87) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 266.05 Td (On ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.72 266.05 Td (February24, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 138.32 266.05 Td (, our share price as reported by the NASDAQ was $128.09 per share. ) Tj ET Q q 0 0 0 rg BT 417.13 266.05 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.58 266.05 Td (February24, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.18 266.05 Td (, there ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 254.05 Td (were approximately 1,415 shareholders of record of our shares.) 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 (32) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (Dividends) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 721.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 721.25 Td (e normally pay dividends on a quarterly basis to shareholders of record on March31, June30, September 30 and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 709.25 Td (December31. ) Tj ET Q q 0 0 0 rg BT 108.40 709.25 Td (The dividend paid on December 2, 2015 was to shareholders of record on November 18, 2015. ) Tj ET Q q 0 0 0 rg BT 489.51 709.25 Td (The dividend ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 697.25 Td (payment dates and amounts are as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 662.75 450.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 662.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 662.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 632.75 450.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 632.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 632.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 602.75 450.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 602.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 602.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 572.75 450.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 572.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 572.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 544.75 450.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 544.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 544.75 58.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 662.75 m 500.5 662.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 662.75 m 562.5 662.75 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 667.43 Td (Payment Date) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 508.15 667.43 Td ($ Per Share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 652.42 Td (January 15, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 652.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 652.42 Td (0.795) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 637.42 Td (April 15, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 637.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 637.42 Td (0.821) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 622.42 Td (July 15, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 622.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 622.42 Td (0.821) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 607.42 Td (October 15, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 607.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 607.42 Td (0.821) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 592.42 Td (December 2, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 592.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 592.42 Td (0.821) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 577.42 Td (April 15, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 577.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 577.42 Td (0.480) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 563.32 Td (July 15, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 563.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 563.32 Td (0.480) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 549.32 Td (October 17, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 549.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 549.32 Td (0.480) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 535.32 Td (January 17, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 535.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 535.32 Td (0.480) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 510.25 Td (On February 8, 2017, the Board of Directors approved a regular quarterly cash dividend of $0.53 per common share for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 498.25 Td (quarter ended December 31, 2016. ) Tj ET Q q 0 0 0 rg BT 190.60 498.25 Td (The dividend is payable on or about ) Tj ET Q q 0 0 0 rg BT 336.40 498.25 Td (April 17, 2017 to shareholders of record at the close of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 486.25 Td (business on March 31, 2017.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 465.25 Td (There are no governmental laws, decrees or regulations in Ireland that restrict the remittance of dividends or other payments to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 453.25 Td (non-resident holders of the Company) Tj ET Q q 0 0 0 rg BT 201.64 453.25 Td (s shares.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 432.25 Td (In circumstances where one of Ireland) Tj ET Q q 0 0 0 rg BT 205.76 432.25 Td (s many exemptions from dividend withholding tax \(DWT\) does not apply) Tj ET Q q 0 0 0 rg BT 506.72 432.25 Td (, dividends ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 420.25 Td (paid by the Company will be subject to Irish DWT) Tj ET Q q 0 0 0 rg BT 252.84 420.25 Td ( \(currently 20percent\). Residents of the United States should be exempt ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 408.25 Td (from Irish DWT) Tj ET Q q 0 0 0 rg BT 115.36 408.25 Td ( provided relevant documentation supporting the exemption has been put in place. ) Tj ET Q q 0 0 0 rg BT 445.92 408.25 Td (While the U.S.-Ireland ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 396.25 Td (Double ) Tj ET Q q 0 0 0 rg BT 81.76 396.25 Td (T) Tj ET Q q 0 0 0 rg BT 87.17 396.25 Td (ax ) Tj ET Q q 0 0 0 rg BT 98.93 396.25 Td (T) Tj ET Q q 0 0 0 rg BT 104.68 396.25 Td (reaty contains provisions reducing the rate of Irish DWT) Tj ET Q q 0 0 0 rg BT 331.10 396.25 Td ( in prescribed circumstances, it should generally be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 384.25 Td (unnecessary for U.S. residents to rely on the provisions of this treaty due to the wide scope of exemptions from Irish DWT) Tj ET Q q 0 0 0 rg BT 540.54 384.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 372.25 Td (available under Irish domestic law) Tj ET Q q 0 0 0 rg BT 187.08 372.25 Td (. Irish income tax may also arise in respect of dividends paid by the Company) Tj ET Q q 0 0 0 rg BT 497.74 372.25 Td (. However) Tj ET Q q 0 0 0 rg BT 538.99 372.25 Td (, U.S. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 360.25 Td (residents entitled to an exemption from Irish DWT) Tj ET Q q 0 0 0 rg BT 252.82 360.25 Td ( generally have no Irish income tax liability on dividends. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 339.25 Td (W) Tj ET Q q 0 0 0 rg BT 59.04 339.25 Td (ith respect to non-corporate U.S. shareholders, certain dividends from a qualified foreign corporation may be subject to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 327.25 Td (reduced rates of taxation. ) Tj ET Q q 0 0 0 rg BT 153.01 327.25 Td (A) Tj ET Q q 0 0 0 rg BT 159.68 327.25 Td ( foreign corporation is treated as a qualified foreign corporation with respect to dividends received ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 315.25 Td (from that corporation on shares that are readily tradable on an established securities market in the United States, such as our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 303.25 Td (shares. Non-corporate U.S. shareholders that do not meet a minimum holding period requirement for our shares during which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 291.25 Td (they are not protected from the risk of loss or that elect to treat the dividend income as investment income pursuant to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 279.25 Td (section163\(d\)\(4\) of the Code will not be eligible for the reduced rates of taxation regardless of our status as a qualified foreign ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 267.25 Td (corporation. In addition, the rate reduction will not apply to dividends if the recipient of a dividend is obligated to make related ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 255.25 Td (payments with respect to positions in substantially similar or related property) Tj ET Q q 0 0 0 rg BT 358.18 255.25 Td (. ) Tj ET Q q 0 0 0 rg BT 363.00 255.25 Td (This disallowance applies even if the minimum ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 243.25 Td (holding period has been met. U.S. shareholders should consult their own tax advisors regarding the application of these rules ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 231.25 Td (given their particular circumstances. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 210.25 Td (T) Tj ET Q q 0 0 0 rg BT 55.75 210.25 Td (otal Shar) Tj ET Q q 0 0 0 rg BT 94.74 210.25 Td (eholder) Tj ET Q q 0 0 0 rg BT 126.78 210.25 Td ( Return) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 189.25 Td (The graphs below depict cumulative total shareholder returns for \(i\)Legacy ) Tj ET Q q 0 0 0 rg BT 355.54 189.25 Td (W) Tj ET Q q 0 0 0 rg BT 364.58 189.25 Td (illis and Legacy ) Tj ET Q q 0 0 0 rg BT 430.76 189.25 Td (T) Tj ET Q q 0 0 0 rg BT 436.17 189.25 Td (owers ) Tj ET Q q 0 0 0 rg BT 462.37 189.25 Td (W) Tj ET Q q 0 0 0 rg BT 471.01 189.25 Td (atson for the period ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 177.25 Td (from January 1, 2012 through January 4, 2016, the day prior to the commencement of trading of ) Tj ET Q q 0 0 0 rg BT 436.94 177.25 Td (W) Tj ET Q q 0 0 0 rg BT 445.98 177.25 Td (illis ) Tj ET Q q 0 0 0 rg BT 463.31 177.25 Td (T) Tj ET Q q 0 0 0 rg BT 468.72 177.25 Td (owers ) Tj ET Q q 0 0 0 rg BT 494.92 177.25 Td (W) Tj ET Q q 0 0 0 rg BT 503.55 177.25 Td (atson) Tj ET Q q 0 0 0 rg BT 527.44 177.25 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 165.25 Td (ordinary shares, and \(ii\) ) Tj ET Q q 0 0 0 rg BT 147.84 165.25 Td (W) Tj ET Q q 0 0 0 rg BT 156.88 165.25 Td (illis ) Tj ET Q q 0 0 0 rg BT 174.20 165.25 Td (T) Tj ET Q q 0 0 0 rg BT 179.61 165.25 Td (owers ) Tj ET Q q 0 0 0 rg BT 205.82 165.25 Td (W) Tj ET Q q 0 0 0 rg BT 214.45 165.25 Td (atson for the period from January5, 2016 through December 31, 2016. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 144.25 Td (Each graph also depicts the total return for the S&P) Tj ET Q q 0 0 0 rg BT 255.96 144.25 Td ( 500 and for a peer group for ) Tj ET Q q 0 0 0 rg BT 373.52 144.25 Td (W) Tj ET Q q 0 0 0 rg BT 382.55 144.25 Td (illis ) Tj ET Q q 0 0 0 rg BT 399.88 144.25 Td (T) Tj ET Q q 0 0 0 rg BT 405.29 144.25 Td (owers ) Tj ET Q q 0 0 0 rg BT 431.49 144.25 Td (W) Tj ET Q q 0 0 0 rg BT 440.13 144.25 Td (atson comprised of ) Tj ET Q q 0 0 0 rg BT 518.17 144.25 Td (Accenture ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 132.25 Td (plc, ) Tj ET Q q 0 0 0 rg BT 66.67 132.25 Td (Aon plc, ) Tj ET Q q 0 0 0 rg BT 103.05 132.25 Td (Arthur J. Gallagher& Co., Brown& Brown Inc., Cognizant ) Tj ET Q q 0 0 0 rg BT 345.89 132.25 Td (T) Tj ET Q q 0 0 0 rg BT 351.30 132.25 Td (echnology Solutions Corporation, Marsh & ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 120.25 Td (McLennan Companies, Inc. and Robert Half International Inc. ) Tj ET Q q 0 0 0 rg BT 301.68 120.25 Td (The comparisons chart the performance of $100 invested on the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 108.25 Td (initial dates indicated \(January 1, 2012 and January 5, 2016, respectively\), assuming full dividend reinvestment. ) 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 (33) Tj ET Q /GS0 gs q 461.00 0 0 365.00 75.50 379.00 cm /I22 Do Q BT /F1 10.00 Tf ET 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 (34) Tj ET Q /GS0 gs q 461.00 0 0 365.00 75.50 379.00 cm /I23 Do Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 363.00 Td (Unr) Tj ET Q q 0 0 0 rg BT 67.04 363.00 Td (egister) Tj ET Q q 0 0 0 rg BT 95.18 363.00 Td (ed Sales of Equity Securities and Use of Pr) Tj ET Q q 0 0 0 rg BT 276.10 363.00 Td (oceeds) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 342.00 Td (During the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.55 342.00 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 139.13 342.00 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 141.63 342.00 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 220.21 342.00 Td (, no shares were issued by the Company without registration under the Securities ) Tj ET Q q 0 0 0 rg BT 545.70 342.00 Td (Act ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 330.00 Td (of 1933, as amended. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 309.00 Td (Pur) Tj ET Q q 0 0 0 rg BT 65.93 309.00 Td (chases of Equity Securities by the Issuer) Tj ET Q q 0 0 0 rg BT 236.86 309.00 Td ( and ) Tj ET Q q 0 0 0 rg BT 257.43 309.00 Td (Affiliated Pur) Tj ET Q q 0 0 0 rg BT 316.41 309.00 Td (chasers) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 288.00 Td (The Company is authorized to repurchase shares, by way of redemption, and will consider whether to do so from time to time, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 276.00 Td (based on many factors, including market conditions. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 255.00 Td (On ) Tj ET Q q 0 0 0 rg BT 64.17 255.00 Td (April 20, 2016, the ) Tj ET Q q 0 0 0 rg BT 142.31 255.00 Td (W) Tj ET Q q 0 0 0 rg BT 151.35 255.00 Td (illis ) Tj ET Q q 0 0 0 rg BT 168.68 255.00 Td (T) Tj ET Q q 0 0 0 rg BT 174.09 255.00 Td (owers ) Tj ET Q q 0 0 0 rg BT 200.29 255.00 Td (W) Tj ET Q q 0 0 0 rg BT 208.93 255.00 Td (atson Board reconfirmed, reapproved and reauthorized the remaining portion of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 243.00 Td (Legacy ) Tj ET Q q 0 0 0 rg BT 81.74 243.00 Td (W) Tj ET Q q 0 0 0 rg BT 90.78 243.00 Td (illis program to repurchase the Company) Tj ET Q q 0 0 0 rg BT 257.13 243.00 Td (s ordinary shares on the open market or by way of redemption or otherwise. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 222.00 Td (On November 10, 2016, the Company announced the Board of Directors approved an increase to the existing share repurchase ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 210.00 Td (program of $1 billion. ) Tj ET Q q 0 0 0 rg BT 140.64 210.00 Td (The $1 billion increase is in addition to the remaining authority on the Legacy ) Tj ET Q q 0 0 0 rg BT 455.38 210.00 Td (W) Tj ET Q q 0 0 0 rg BT 464.41 210.00 Td (illis program discussed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 198.00 Td (in the preceding paragraph. ) Tj ET Q q 0 0 0 rg BT 164.21 198.00 Td (W) Tj ET Q q 0 0 0 rg BT 172.85 198.00 Td (e anticipate this authorization to be executed in 2017 and 2018.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 177.00 Td (There are no expiration dates for these repurchase plans or programs. ) Tj ET Q q 0 0 0 rg BT 329.15 177.00 Td (The following table presents specified information about ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 165.00 Td (the Company) Tj ET Q q 0 0 0 rg BT 106.38 165.00 Td (s repurchases of ordinary shares in the fourth quarter and the Company) Tj ET Q q 0 0 0 rg BT 393.24 165.00 Td (s repurchase authority) Tj ET Q q 0 0 0 rg BT 480.89 165.00 Td (.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 125.50 168.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 218.50 125.50 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 280.50 125.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 284.50 125.50 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.50 125.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.50 125.50 101.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.50 125.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 449.50 125.50 111.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 95.50 168.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 218.50 95.50 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 280.50 95.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 284.50 95.50 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.50 95.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.50 95.50 101.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.50 95.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 449.50 95.50 111.00 -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 218.5 125.5 m 280.5 125.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 284.5 125.5 m 340.5 125.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344.5 125.5 m 445.5 125.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449.5 125.5 m 560.5 125.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 218.5 80.5 m 280.5 80.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 218.5 66.5 m 280.5 66.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 218.5 64.5 m 280.5 64.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344.5 80.5 m 445.5 80.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344.5 66.5 m 445.5 66.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344.5 64.5 m 445.5 64.5 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 129.75 Td (Period) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 223.25 137.75 Td (Total number of) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 221.75 129.75 Td (shares purchased) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 289.75 137.75 Td (Average price) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 289.55 129.75 Td (paid per share) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 357.75 145.75 Td (Total number of shares) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 348.25 137.75 Td (purchased as part of publicly) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 347.25 129.75 Td (announced plans or programs) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 452.25 145.75 Td (Maximum number of shares that) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 453.70 137.75 Td (may yet be purchased under the) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 475.60 129.75 Td (plans or programs) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 114.75 Td (October 1, 2016 through October 31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 244.15 115.17 Td (568,906) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.00 115.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.15 115.17 Td (129.19) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.15 115.17 Td (568,906) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.65 115.17 Td (10,076,503) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 99.75 Td (November 1, 2016 through November 30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 244.15 100.17 Td (298,998) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.00 100.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.15 100.17 Td (123.59) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.15 100.17 Td (298,998) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.65 100.17 Td (9,777,505) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 84.75 Td (December 1, 2016 through December 31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 244.15 85.17 Td (511,092) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.00 85.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.15 85.17 Td (123.16) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.15 85.17 Td (511,092) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.65 85.17 Td (9,266,413) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 236.65 70.17 Td (1,378,996) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.00 70.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.15 70.17 Td (125.74) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.65 70.17 Td (1,378,996) Tj ET Q BT /F1 10.00 Tf ET 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 (35) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (The maximum number of shares that may yet be purchased under the existing stock repurchase plan is 9,266,413. ) Tj ET Q q 0 0 0 rg BT 506.27 742.10 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.58 730.10 Td (, approximately $1.1 billion remained on the open-ended repurchase authorities granted by the Board. ) Tj ET Q q 0 0 0 rg BT 537.63 730.10 Td (An ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (estimate of the maximum number of shares under the existing authority was determined using the closing price of our Ordinary ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (Shares on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 91.66 706.10 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 170.24 706.10 Td ( of $122.28.) 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 (36) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (ITEM 6. SELECTED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 204.85 742.25 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 284.03 742.25 Td ( DA) Tj ET Q q 0 0 0 rg BT 300.23 742.25 Td (T) Tj ET Q q 0 0 0 rg BT 306.16 742.25 Td (A) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 721.25 Td (The selected consolidated financial data presented below should be read in conjunction with the audited consolidated financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 709.25 Td (statements of the Company and the related notes and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 263.55 709.25 Td (Item 7. Management) Tj ET Q q 0 0 0 rg BT 349.36 709.25 Td (s Discussion and ) Tj ET Q q 0 0 0 rg BT 418.53 709.25 Td (Analysis of Financial Condition ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 697.25 Td (and Results of Operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 153.59 697.25 Td ( within this ) Tj ET Q q 0 0 0 rg BT 200.55 697.25 Td (Annual Report on Form 10-K.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 676.25 Td (The selected historical consolidated financial data presented below for the years ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.75 676.25 Td (December 31,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.83 676.25 Td ( 2016, 2015, and 2014 and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 664.25 Td (as of December 31, 2016 and 2015 has been derived from the audited consolidated financial statements of Legacy ) Tj ET Q q 0 0 0 rg BT 508.27 664.25 Td (W) Tj ET Q q 0 0 0 rg BT 517.31 664.25 Td (illis and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 652.25 Td (W) Tj ET Q q 0 0 0 rg BT 59.04 652.25 Td (illis ) Tj ET Q q 0 0 0 rg BT 76.36 652.25 Td (T) Tj ET Q q 0 0 0 rg BT 81.77 652.25 Td (owers ) Tj ET Q q 0 0 0 rg BT 107.97 652.25 Td (W) Tj ET Q q 0 0 0 rg BT 116.61 652.25 Td (atson, as applicable, which have been prepared in accordance with U.S. GAAP) Tj ET Q q 0 0 0 rg BT 431.96 652.25 Td ( and included elsewhere in this ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 640.25 Td (Annual Report. Financial data set forth below for the years ended December 31, 2013 and 2012 and at December 31, 2014, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 628.25 Td (2013, and 2012, has been derived from audited consolidated financial statements with adjustment for the reverse stock split on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 616.25 Td (January 4, 2016 and not included in this ) Tj ET Q q 0 0 0 rg BT 211.92 616.25 Td (Annual Report. ) Tj ET Q q 0 0 0 rg BT 275.90 616.25 Td (The Mer) Tj ET Q q 0 0 0 rg BT 310.42 616.25 Td (ger af) Tj ET Q q 0 0 0 rg BT 333.28 616.25 Td (fects the comparability of this data. See ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.28 616.25 Td (Note 3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.22 616.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 604.25 Td (Mer) Tj ET Q q 0 0 0 rg BT 66.48 604.25 Td (ger and ) Tj ET Q q 0 0 0 rg BT 98.13 604.25 Td (Acquisitions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 148.69 604.25 Td ( within Item 8 of this ) Tj ET Q q 0 0 0 rg BT 234.80 604.25 Td (Annual Report on Form 10-K for additional information. ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 548.75 266.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.50 548.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.50 548.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.50 548.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 548.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.50 548.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.50 548.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.50 548.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 548.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.50 548.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 518.75 266.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.50 518.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.50 518.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.50 518.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 518.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.50 518.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.50 518.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.50 518.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 518.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.50 518.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 488.75 266.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.50 488.75 46.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.50 488.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.50 488.75 46.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 488.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.50 488.75 46.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.50 488.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.50 488.75 46.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 488.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.50 488.75 46.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 450.75 266.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.50 450.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.50 450.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.50 450.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 450.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.50 450.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.50 450.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.50 450.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 450.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.50 450.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 420.75 266.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.50 420.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.50 420.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.50 420.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 420.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.50 420.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.50 420.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.50 420.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 420.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.50 420.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 390.75 266.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.50 390.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.50 390.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.50 390.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 390.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.50 390.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.50 390.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.50 390.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 390.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.50 390.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 360.75 266.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.50 360.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.50 360.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.50 360.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 360.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.50 360.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.50 360.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.50 360.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 360.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.50 360.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 330.75 266.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.50 330.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.50 330.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.50 330.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 330.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.50 330.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.50 330.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.50 330.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 330.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.50 330.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 300.75 266.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.50 300.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.50 300.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.50 300.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 300.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.50 300.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.50 300.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.50 300.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 300.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.50 300.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 270.75 266.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.50 270.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.50 270.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.50 270.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 270.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.50 270.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.50 270.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.50 270.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 270.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.50 270.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 240.75 266.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.50 240.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.50 240.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.50 240.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 240.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.50 240.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.50 240.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.50 240.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 240.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.50 240.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 210.75 266.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.50 210.75 46.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.50 210.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.50 210.75 46.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 210.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.50 210.75 46.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.50 210.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.50 210.75 46.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 210.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.50 210.75 46.00 -23.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316.5 578.75 m 362.5 578.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362.5 578.75 m 366.5 578.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366.5 578.75 m 412.5 578.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412.5 578.75 m 416.5 578.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416.5 578.75 m 462.5 578.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 462.5 578.75 m 466.5 578.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466.5 578.75 m 512.5 578.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 578.75 m 516.5 578.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 578.75 m 562.5 578.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316.5 578.75 m 362.5 578.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316.5 563.75 m 362.5 563.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366.5 578.75 m 412.5 578.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366.5 563.75 m 412.5 563.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412.5 578.75 m 416.5 578.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416.5 578.75 m 462.5 578.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416.5 563.75 m 462.5 563.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 462.5 578.75 m 466.5 578.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466.5 578.75 m 512.5 578.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466.5 563.75 m 512.5 563.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 578.75 m 562.5 578.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 563.75 m 562.5 563.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316.5 435.75 m 362.5 435.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366.5 435.75 m 412.5 435.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416.5 435.75 m 462.5 435.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466.5 435.75 m 512.5 435.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 435.75 m 562.5 435.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316.5 435.75 m 362.5 435.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366.5 435.75 m 412.5 435.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416.5 435.75 m 462.5 435.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466.5 435.75 m 512.5 435.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316.5 405.75 m 362.5 405.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366.5 405.75 m 412.5 405.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416.5 405.75 m 462.5 405.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466.5 405.75 m 512.5 405.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 405.75 m 562.5 405.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316.5 360.75 m 362.5 360.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366.5 360.75 m 412.5 360.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416.5 360.75 m 462.5 360.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466.5 360.75 m 512.5 360.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 360.75 m 562.5 360.75 l s BT /F2 9.00 Tf ET q 0 0 0 rg BT 388.30 583.20 Td (Years ended December 31,) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 330.00 568.20 Td (2016) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 380.00 568.20 Td (2015) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 430.00 568.20 Td (2014) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 480.00 568.20 Td (2013) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 530.00 568.20 Td (2012) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 354.80 552.98 Td (\(in millions of U.S. dollars, except per share data\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 53.00 538.20 Td (Statement of Operations Data) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 359.00 538.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 409.00 538.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 459.00 538.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 509.00 538.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.00 538.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 65.00 523.21 Td (Total revenues) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 319.00 523.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 338.75 523.21 Td (7,887) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 369.00 523.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 388.75 523.21 Td (3,829) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 419.00 523.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 438.75 523.21 Td (3,802) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 469.00 523.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 488.75 523.21 Td (3,655) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 519.00 523.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 538.75 523.21 Td (3,480) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 65.00 508.21 Td (Goodwill impairment charge) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 350.00 508.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.00 508.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 450.00 508.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 500.00 508.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 542.50 508.21 Td (\(492) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.00 508.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 65.00 493.21 Td (Income/\(loss\) from operations) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 345.50 493.21 Td (551) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 395.50 493.21 Td (427) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 445.50 493.21 Td (647) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 495.50 493.21 Td (663) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 542.50 493.21 Td (\(225) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.00 493.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 65.00 479.21 Td (Income/\(loss\) from continuing operations before income taxes and) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 74.00 470.21 Td (interest in earnings of associates) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 345.50 470.21 Td (340) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 395.50 470.21 Td (340) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 445.50 470.21 Td (518) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 495.50 470.21 Td (499) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 542.50 470.21 Td (\(337) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.00 470.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 65.00 455.21 Td (Net income/\(loss\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 345.50 455.21 Td (438) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 395.50 455.21 Td (384) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 445.50 455.21 Td (373) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 495.50 455.21 Td (377) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 542.50 455.21 Td (\(433) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.00 455.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 65.00 440.21 Td (Net income/\(loss\) attributable to Willis Towers Watson) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 319.00 440.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 345.50 440.21 Td (420) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 369.00 440.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 395.50 440.21 Td (373) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 419.00 440.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 445.50 440.21 Td (362) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 469.00 440.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 495.50 440.21 Td (365) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 519.00 440.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 542.50 440.21 Td (\(446) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.00 440.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 65.00 425.21 Td (Earnings/\(loss\) per share basic ) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 188.71 429.29 Td (\(i\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 319.00 425.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 343.25 425.21 Td (3.07) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 369.00 425.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 393.25 425.21 Td (5.49) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 419.00 425.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 443.25 425.21 Td (5.40) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 469.00 425.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 493.25 425.21 Td (5.53) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 519.00 425.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 540.25 425.21 Td (\(6.86) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.00 425.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 65.00 410.21 Td (Earnings/\(loss\) per share diluted ) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 195.22 414.29 Td (\(i\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 319.00 410.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 343.25 410.21 Td (3.04) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 369.00 410.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 393.25 410.21 Td (5.41) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 419.00 410.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 443.25 410.21 Td (5.32) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 469.00 410.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 493.25 410.21 Td (5.37) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 519.00 410.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 540.25 410.21 Td (\(6.86) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.00 410.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 65.00 395.21 Td (Average number of shares outstanding) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 359.00 395.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 409.00 395.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 459.00 395.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 509.00 395.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.00 395.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 77.00 380.21 Td ( basic) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 345.50 380.21 Td (137) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.00 380.21 Td (68) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 450.00 380.21 Td (67) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 500.00 380.21 Td (66) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 550.00 380.21 Td (65) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 77.00 365.21 Td ( diluted) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 345.50 365.21 Td (138) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.00 365.21 Td (69) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 450.00 365.21 Td (68) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 500.00 365.21 Td (68) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 550.00 365.21 Td (65) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 53.00 350.20 Td (Balance Sheet Data \(end of year\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 359.00 350.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 409.00 350.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 459.00 350.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 509.00 350.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.00 350.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 65.00 335.21 Td (Goodwill) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 319.00 335.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 334.25 335.21 Td (10,413) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 369.00 335.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 388.75 335.21 Td (3,737) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 419.00 335.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 438.75 335.21 Td (2,937) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 469.00 335.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 488.75 335.21 Td (2,838) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 519.00 335.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 538.75 335.21 Td (2,827) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 65.00 320.21 Td (Other intangible assets, net) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 338.75 320.21 Td (4,368) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 388.75 320.21 Td (1,115) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 445.50 320.21 Td (450) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 495.50 320.21 Td (353) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 545.50 320.21 Td (385) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 65.00 305.21 Td (T) Tj ET Q q 0 0 0 rg BT 69.87 305.21 Td (otal assets ) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 108.86 309.29 Td (\(ii\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 334.25 305.21 Td (30,253) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 384.25 305.21 Td (18,839) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 434.25 305.21 Td (15,421) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 484.25 305.21 Td (14,785) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.25 305.21 Td (15,099) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 65.00 290.21 Td (Total equity) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 334.25 290.21 Td (10,183) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 388.75 290.21 Td (2,360) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 438.75 290.21 Td (2,007) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 488.75 290.21 Td (2,243) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 538.75 290.21 Td (1,725) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 65.00 275.21 Td (Long-term debt) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 338.75 275.21 Td (3,357) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 388.75 275.21 Td (2,278) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 438.75 275.21 Td (2,130) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 488.75 275.21 Td (2,297) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 538.75 275.21 Td (2,325) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 65.00 260.21 Td (Short-term debt and current portion of long-term debt) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 345.50 260.21 Td (508) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 395.50 260.21 Td (988) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 445.50 260.21 Td (167) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 500.00 260.21 Td (14) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 550.00 260.21 Td (15) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 65.00 245.21 Td (Additional paid-in capital) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 334.25 245.21 Td (10,596) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 388.75 245.21 Td (1,672) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 438.75 245.21 Td (1,524) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 488.75 245.21 Td (1,316) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 538.75 245.21 Td (1,125) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 65.00 230.21 Td (Total Willis Towers Watson shareholders equity) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 334.25 230.21 Td (10,065) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 388.75 230.21 Td (2,229) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 438.75 230.21 Td (1,985) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 488.75 230.21 Td (2,215) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 538.75 230.21 Td (1,699) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 53.00 215.20 Td (Other Financial Data) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 359.00 215.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 409.00 215.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 459.00 215.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 509.00 215.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.00 215.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 65.00 201.21 Td (Capital expenditures \(excluding capitalized software and capital) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 74.00 192.21 Td (leases\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 319.00 192.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 345.50 192.21 Td (218) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 369.00 192.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 395.50 192.21 Td (146) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 419.00 192.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 445.50 192.21 Td (110) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 469.00 192.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 495.50 192.21 Td (105) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 519.00 192.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 545.50 192.21 Td (133) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 65.00 177.21 Td (Cash dividends declared per share ) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 190.20 181.29 Td (\(i\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 319.00 177.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 343.25 177.21 Td (1.92) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 369.00 177.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 393.25 177.21 Td (3.28) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 419.00 177.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 443.25 177.21 Td (3.18) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 469.00 177.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 493.25 177.21 Td (2.97) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 519.00 177.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 543.25 177.21 Td (2.86) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 161.25 Td (____________________) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 148.65 Td (\(i\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 68.00 148.65 Td (Basic and diluted earnings/\(loss\) per share, and cash dividends declared per share, for 2015, 2014, 2013 and 2012 have been retroactively adjusted to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 68.00 139.05 Td (reflect the reverse stock split on January 4, 2016. See ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 242.39 139.05 Td (Note 3) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 263.94 139.05 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 275.94 139.05 Td (Mer) Tj ET Q q 0 0 0 rg BT 289.13 139.05 Td (ger and ) Tj ET Q q 0 0 0 rg BT 314.45 139.05 Td (Acquisitions) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 354.89 139.05 Td ( within Item 8 of this ) Tj ET Q q 0 0 0 rg BT 423.78 139.05 Td (Annual Report on Form 10-K for further ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 68.00 129.45 Td (details.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 116.85 Td (\(ii\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 68.00 116.85 Td (W) Tj ET Q q 0 0 0 rg BT 74.91 116.85 Td (e collect premiums from insureds and, after deducting our commissions, remit the premiums to the respective insurers; the Company also collects ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 68.00 107.25 Td (claims or refunds from insurers which it then remits to insureds. Uncollected premiums from insureds and uncollected claims or refunds from insurers ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 68.00 97.65 Td (\(fiduciary receivables\) are recorded as fiduciary assets on the Company) Tj ET Q q 0 0 0 rg BT 304.56 97.65 Td (s consolidated balance sheet. Unremitted insurance premiums, claims or refunds ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 68.00 88.05 Td (\(fiduciary funds\) are also recorded within fiduciary assets.) 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 (37) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (ITEM7. MANAGEMENTS DISCUSSION ) Tj ET Q q 0 0 0 rg BT 239.19 742.25 Td (AND ) Tj ET Q q 0 0 0 rg BT 262.81 742.25 Td (ANAL) Tj ET Q q 0 0 0 rg BT 290.22 742.25 Td (YSIS OF) Tj ET Q q 0 0 0 rg BT 328.48 742.25 Td ( FINANCIAL) Tj ET Q q 0 0 0 rg BT 387.09 742.25 Td ( CONDITION ) Tj ET Q q 0 0 0 rg BT 450.44 742.25 Td (AND RESUL) Tj ET Q q 0 0 0 rg BT 507.03 742.25 Td (TS OF) Tj ET Q q 0 0 0 rg BT 535.28 742.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 730.25 Td (OPERA) Tj ET Q q 0 0 0 rg BT 84.26 730.25 Td (TIONS ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 709.25 Td (This discussion includes r) Tj ET Q q 0 0 0 rg BT 153.25 709.25 Td (efer) Tj ET Q q 0 0 0 rg BT 168.42 709.25 Td (ences to non-GAAP) Tj ET Q q 0 0 0 rg BT 247.10 709.25 Td ( financial measur) Tj ET Q q 0 0 0 rg BT 316.73 709.25 Td (es as defined in the rules of the Securities and Exchange ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 697.25 Td (Commission \(SEC\). W) Tj ET Q q 0 0 0 rg BT 145.46 697.25 Td (e pr) Tj ET Q q 0 0 0 rg BT 160.92 697.25 Td (esent such non-GAAP) Tj ET Q q 0 0 0 rg BT 248.50 697.25 Td ( financial measur) Tj ET Q q 0 0 0 rg BT 318.12 697.25 Td (es, specifically) Tj ET Q q 0 0 0 rg BT 376.44 697.25 Td (, adjusted, constant curr) Tj ET Q q 0 0 0 rg BT 473.56 697.25 Td (ency and or) Tj ET Q q 0 0 0 rg BT 520.40 697.25 Td (ganic ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 685.25 Td (non-GAAP) Tj ET Q q 0 0 0 rg BT 93.70 685.25 Td ( financial measur) Tj ET Q q 0 0 0 rg BT 163.32 685.25 Td (es, as we believe such information is of inter) Tj ET Q q 0 0 0 rg BT 340.98 685.25 Td (est to the investment community because it pr) Tj ET Q q 0 0 0 rg BT 522.51 685.25 Td (ovides ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 673.25 Td (additional meaningful methods of evaluating certain aspects of the Company) Tj ET Q q 0 0 0 rg BT 360.06 673.25 Td (s operating performance fr) Tj ET Q q 0 0 0 rg BT 467.73 673.25 Td (om period to period on ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 661.25 Td (a basis that may not be otherwise appar) Tj ET Q q 0 0 0 rg BT 209.90 661.25 Td (ent under U.S. GAAP) Tj ET Q q 0 0 0 rg BT 294.43 661.25 Td (, and these pr) Tj ET Q q 0 0 0 rg BT 348.50 661.25 Td (ovide a measur) Tj ET Q q 0 0 0 rg BT 409.22 661.25 Td (e against which our businesses may ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 649.25 Td (be assessed in the futur) Tj ET Q q 0 0 0 rg BT 142.95 649.25 Td (e.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 149.89 649.25 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 628.25 Td (Our methods of calculating these measur) Tj ET Q q 0 0 0 rg BT 214.33 628.25 Td (es may differ fr) Tj ET Q q 0 0 0 rg BT 274.79 628.25 Td (om those used by other companies and ther) Tj ET Q q 0 0 0 rg BT 448.00 628.25 Td (efor) Tj ET Q q 0 0 0 rg BT 463.74 628.25 Td (e comparability may be ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 616.25 Td (limited. These financial measur) Tj ET Q q 0 0 0 rg BT 175.73 616.25 Td (es) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 184.06 616.25 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 186.56 616.25 Td (should be viewed in addition to, not in lieu of, the consolidated financial) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.52 616.25 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 479.02 616.25 Td (statements for the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 604.25 Td (year ended December31, 2016.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 177.73 604.25 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 583.25 Td (See Non-GAAP) Tj ET Q q 0 0 0 rg BT 115.07 583.25 Td ( Financial Measur) Tj ET Q q 0 0 0 rg BT 189.14 583.25 Td (es) Tj ET Q q 0 0 0 rg BT 199.69 583.25 Td ( below for further discussion of our adjusted, constant curr) Tj ET Q q 0 0 0 rg BT 435.99 583.25 Td (ency and or) Tj ET Q q 0 0 0 rg BT 482.82 583.25 Td (ganic non-GAAP) Tj ET Q q 0 0 0 rg BT 551.24 583.25 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 571.25 Td (financial measur) Tj ET Q q 0 0 0 rg BT 117.12 571.25 Td (es.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 127.95 571.25 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 550.25 Td (This discussion includes forwar) Tj ET Q q 0 0 0 rg BT 176.59 550.25 Td (d-looking statements. See Disclaimer Regar) Tj ET Q q 0 0 0 rg BT 355.34 550.25 Td (ding Forwar) Tj ET Q q 0 0 0 rg BT 405.81 550.25 Td (d-looking Statements) Tj ET Q q 0 0 0 rg BT 492.18 550.25 Td ( for certain ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 538.25 Td (cautionary information r) Tj ET Q q 0 0 0 rg BT 149.07 538.25 Td (egar) Tj ET Q q 0 0 0 rg BT 167.03 538.25 Td (ding forwar) Tj ET Q q 0 0 0 rg BT 214.17 538.25 Td (d-looking statements and Risk Factors) Tj ET Q q 0 0 0 rg BT 373.59 538.25 Td ( in Item 1A) Tj ET Q q 0 0 0 rg BT 417.56 538.25 Td ( for a list of factors that could ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 526.25 Td (cause actual r) Tj ET Q q 0 0 0 rg BT 106.28 526.25 Td (esults to differ materially fr) Tj ET Q q 0 0 0 rg BT 215.91 526.25 Td (om those pr) Tj ET Q q 0 0 0 rg BT 262.76 526.25 Td (edicted in those statements.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 372.73 526.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 505.25 Td (Executive Overview) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 484.25 Td (Business Overview) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 463.25 Td (W) Tj ET Q q 0 0 0 rg BT 59.04 463.25 Td (illis ) Tj ET Q q 0 0 0 rg BT 76.36 463.25 Td (T) Tj ET Q q 0 0 0 rg BT 81.77 463.25 Td (owers ) Tj ET Q q 0 0 0 rg BT 107.97 463.25 Td (W) Tj ET Q q 0 0 0 rg BT 116.61 463.25 Td (atson is a global advisory) Tj ET Q q 0 0 0 rg BT 217.61 463.25 Td (, broking and solutions company that helps clients around the world turn risk into a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 451.25 Td (path for growth. ) Tj ET Q q 0 0 0 rg BT 117.03 451.25 Td (W) Tj ET Q q 0 0 0 rg BT 126.06 451.25 Td (ith roots dating to 1828, ) Tj ET Q q 0 0 0 rg BT 224.21 451.25 Td (W) Tj ET Q q 0 0 0 rg BT 233.25 451.25 Td (illis ) Tj ET Q q 0 0 0 rg BT 250.58 451.25 Td (T) Tj ET Q q 0 0 0 rg BT 255.99 451.25 Td (owers ) Tj ET Q q 0 0 0 rg BT 282.19 451.25 Td (W) Tj ET Q q 0 0 0 rg BT 290.83 451.25 Td (atson has more than 41,000 employees and services clients in more ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 439.25 Td (than 140 countries and territories. ) Tj ET Q q 0 0 0 rg BT 187.00 439.25 Td (W) Tj ET Q q 0 0 0 rg BT 195.64 439.25 Td (e design and deliver solutions that manage risk, optimize benefits, cultivate talent, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 427.25 Td (expand the power of capital to protect and strengthen institutions and individuals. ) Tj ET Q q 0 0 0 rg BT 378.35 427.25 Td (W) Tj ET Q q 0 0 0 rg BT 386.99 427.25 Td (e believe our unique perspective allows us ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 415.25 Td (to see the critical intersections between talent, assets and ideas - the dynamic formula that drives business performance.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.89 415.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 394.25 Td (e of) Tj ET Q q 0 0 0 rg BT 73.73 394.25 Td (fer clients a broad range of services to help them to identify and control their risks, and to enhance business performance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.25 Td (by improving their ability to attract, retain and engage a talented workforce. Our risk control services range from strategic risk ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.25 Td (consulting \(including providing actuarial analysis\), to a variety of due diligence services, to the provision of practical on-site ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.25 Td (risk control services \(such as health and safety or property loss control consulting\), as well as analytical and advisory services ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.25 Td (\(such as hazard modeling and reinsurance optimization studies\). ) Tj ET Q q 0 0 0 rg BT 308.91 346.25 Td (W) Tj ET Q q 0 0 0 rg BT 317.54 346.25 Td (e assist clients in planning how to manage incidents or crises ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.25 Td (when they occur) Tj ET Q q 0 0 0 rg BT 115.53 334.25 Td (. ) Tj ET Q q 0 0 0 rg BT 120.35 334.25 Td (These services include contingency planning, security audits and product tampering plans. ) Tj ET Q q 0 0 0 rg BT 484.23 334.25 Td (W) Tj ET Q q 0 0 0 rg BT 492.87 334.25 Td (e help our clients ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.25 Td (enhance their business performance by delivering consulting services, technology and solutions that help or) Tj ET Q q 0 0 0 rg BT 480.26 322.25 Td (ganizations ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.25 Td (anticipate, identify and capitalize on emer) Tj ET Q q 0 0 0 rg BT 217.52 310.25 Td (ging opportunities in human capital management as well as investment advice to help ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.25 Td (our clients develop disciplined and ef) Tj ET Q q 0 0 0 rg BT 199.50 298.25 Td (ficient strategies to meet their investment goals.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.83 298.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 277.25 Td (As an insurance broker) Tj ET Q q 0 0 0 rg BT 142.07 277.25 Td (, we act as an intermediary between our clients and insurance carriers by advising our clients on their ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 265.25 Td (risk management requirements, helping clients determine the best means of managing risk and negotiating and placing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 253.25 Td (insurance with insurance carriers through our global distribution network. ) Tj ET Q q 0 0 0 rg BT 347.52 253.25 Td (W) Tj ET Q q 0 0 0 rg BT 356.16 253.25 Td (e operate the lar) Tj ET Q q 0 0 0 rg BT 420.10 253.25 Td (gest private Medicare exchange in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 241.25 Td (the U.S. ) Tj ET Q q 0 0 0 rg BT 84.82 241.25 Td (Through this exchange and those for active employees, we help our clients move to a more sustainable economic ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 229.25 Td (model by capping and controlling the costs associated with healthcare benefits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.79 229.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 208.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 208.25 Td (e are not an insurance company) Tj ET Q q 0 0 0 rg BT 184.32 208.25 Td (, and therefore we do not underwrite insurable risks for our own account.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.45 208.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 187.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 187.25 Td (e derive the majority of our revenue from either commissions or fees for broking or consulting services. No single client ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 175.25 Td (represented a significant concentration of our consolidated revenues for any of the periods presented.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.29 175.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 154.25 Td (Our shares are traded on the NASDAQ Global Select Market.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.15 154.25 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 133.25 Td (Market Conditions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 112.25 Td (Due to the cyclical nature of the insurance market and the impact of other market conditions on insurance premiums, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 100.25 Td (commission revenues may vary widely between accounting periods. ) Tj ET Q q 0 0 0 rg BT 324.65 100.25 Td (A) Tj ET Q q 0 0 0 rg BT 331.32 100.25 Td ( period of low or declining premium rates, generally ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 88.25 Td (known as a soft) Tj ET Q q 0 0 0 rg BT 118.41 88.25 Td ( or softening) Tj ET Q q 0 0 0 rg BT 174.87 88.25 Td ( market, generally leads to downward pressure on commission revenues and can have a material ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 76.25 Td (adverse impact on our commission revenues and operating mar) Tj ET Q q 0 0 0 rg BT 302.52 76.25 Td (gin. ) Tj ET Q q 0 0 0 rg BT 319.75 76.25 Td (A) Tj ET Q q 0 0 0 rg BT 326.42 76.25 Td ( hard) Tj ET Q q 0 0 0 rg BT 352.60 76.25 Td ( or firming) Tj ET Q q 0 0 0 rg BT 401.85 76.25 Td ( market, during which premium rates ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 64.25 Td (rise, generally has a favorable impact on our commission revenues and operating mar) Tj ET Q q 0 0 0 rg BT 391.65 64.25 Td (gin. Rates, however) Tj ET Q q 0 0 0 rg BT 470.67 64.25 Td (, vary by geography) Tj ET Q q 0 0 0 rg BT 550.00 64.25 Td (, ) Tj ET Q endstream endobj 77 0 obj <> endobj 78 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (38) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (industry and client segment. ) Tj ET Q q 0 0 0 rg BT 164.70 742.10 Td (As a result, and due to the global and diverse nature of our business, we view rates in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (aggregate.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 91.36 730.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 709.10 Td (Market conditions in our broking industry are generally defined by factors such as the strength of the economies in the various ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 697.10 Td (geographic regions in which we serve around the world, insurance rate movements, and insurance and reinsurance buying ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 685.10 Td (patterns of our clients.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 139.42 685.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 664.10 Td (Management has considered the U.K. referendum vote on June 23, 2016 to depart from the E.U. and the uncertainties about the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 652.10 Td (near) Tj ET Q q 0 0 0 rg BT 67.01 652.10 Td (-term and longer) Tj ET Q q 0 0 0 rg BT 133.45 652.10 Td (-term ef) Tj ET Q q 0 0 0 rg BT 165.19 652.10 Td (fects of Brexit on the Company) Tj ET Q q 0 0 0 rg BT 290.35 652.10 Td (. ) Tj ET Q q 0 0 0 rg BT 295.17 652.10 Td (The terms of Brexit, and its impact, are highly uncertain. For a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 640.10 Td (further discussion of the risks of Brexit to the Company) Tj ET Q q 0 0 0 rg BT 272.37 640.10 Td (, see Part I, Item 1A. Risk Factors within this ) Tj ET Q q 0 0 0 rg BT 454.86 640.10 Td (Annual Report on Form ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 628.10 Td (10-K.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 73.05 628.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 607.10 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 607.10 Td (ypically) Tj ET Q q 0 0 0 rg BT 86.97 607.10 Td (, our business benefits from regulatory change, political risk or economic uncertainty) Tj ET Q q 0 0 0 rg BT 426.50 607.10 Td (. Insurance broking generally ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 595.10 Td (tracks the economy) Tj ET Q q 0 0 0 rg BT 127.10 595.10 Td (, but demand for both insurance broking and consulting services usually remains steady during times of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 583.10 Td (uncertainty) Tj ET Q q 0 0 0 rg BT 94.33 583.10 Td (. ) Tj ET Q q 0 0 0 rg BT 99.15 583.10 Td (W) Tj ET Q q 0 0 0 rg BT 107.79 583.10 Td (e believe that the U.K. has good long-term growth opportunities and, given that, we believe the impact to ) Tj ET Q q 0 0 0 rg BT 530.83 583.10 Td (W) Tj ET Q q 0 0 0 rg BT 539.87 583.10 Td (illis ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 571.10 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 571.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 81.61 571.10 Td (W) Tj ET Q q 0 0 0 rg BT 90.25 571.10 Td (atson will be neutral to slightly positive over the next couple of years, with some periods of increase and decrease in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 559.10 Td (that time frame. ) Tj ET Q q 0 0 0 rg BT 115.90 559.10 Td (W) Tj ET Q q 0 0 0 rg BT 124.54 559.10 Td (e have some businesses, such as our health and benefits and administration businesses, which can be counter ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 547.10 Td (cyclical during the early period of a significant economic change.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.11 547.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (Although approximately 23% of our revenues are generated in the U.K. on an annual basis, only about 14% of revenues are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (denominated in Pounds sterling as much of the insurance business is transacted in U.S. dollars. ) Tj ET Q q 0 0 0 rg BT 434.11 514.10 Td (Approximately 20% of our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (expenses are denominated in Pounds sterling, thus we generally benefit from a weakening Pound in our income from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td (operations. However) Tj ET Q q 0 0 0 rg BT 135.41 490.10 Td (, we have a company hedging strategy for this aspect of our business, where revenues are generated in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (currencies dif) Tj ET Q q 0 0 0 rg BT 104.51 478.10 Td (ferent from the currency of the related expenses, which is designed to mitigate significant fluctuations in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.10 Td (currency) Tj ET Q q 0 0 0 rg BT 84.33 466.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.83 466.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 445.10 Td (The market for our consulting, technology and solutions, and private exchange services is subject to change as a result of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 433.10 Td (economic, regulatory and legislative changes, technological developments, and increased competition from established and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 421.10 Td (new competitors. Regulatory and legislative actions, along with continuously evolving technological developments, will likely ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 409.10 Td (have the greatest impact on the overall market for our exchange products. ) Tj ET Q q 0 0 0 rg BT 346.65 409.10 Td (W) Tj ET Q q 0 0 0 rg BT 355.28 409.10 Td (e believe the primary factors in selecting a human ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 397.10 Td (resources or risk management consulting firm include reputation, the ability to provide measurable increases to shareholder ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 385.10 Td (value and return on investment, global scale, quality of service and the ability to tailor services to clients) Tj ET Q q 0 0 0 rg BT 470.52 385.10 Td ( unique needs. ) Tj ET Q q 0 0 0 rg BT 530.32 385.10 Td (W) Tj ET Q q 0 0 0 rg BT 539.36 385.10 Td (ith ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 373.10 Td (regard to the market for exchanges, we believe that clients base their decisions on a variety of factors that include the ability of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 361.10 Td (the provider to deliver measurable cost savings for clients, a strong reputation for ef) Tj ET Q q 0 0 0 rg BT 385.27 361.10 Td (ficient execution, a provider's capability in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 349.10 Td (delivering a broad number of configurations to serve various population segments and financing options, and an innovative ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 337.10 Td (service delivery model and platform.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 197.45 337.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 316.10 Td (See ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.94 316.10 Td (Part I, Item1A. Risk Factors in this ) Tj ET Q q 0 0 0 rg BT 211.38 316.10 Td (Annual Report on Form 10-K) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.25 316.10 Td ( for discussions of risks that may af) Tj ET Q q 0 0 0 rg BT 472.00 316.10 Td (fect our ability to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 304.10 Td (compete.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.37 304.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 283.10 Td (Business Strategy) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.10 Td (W) Tj ET Q q 0 0 0 rg BT 59.04 262.10 Td (illis ) Tj ET Q q 0 0 0 rg BT 76.36 262.10 Td (T) Tj ET Q q 0 0 0 rg BT 81.77 262.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 107.97 262.10 Td (W) Tj ET Q q 0 0 0 rg BT 116.61 262.10 Td (atson sees that a unified approach to people and risk can be a path to growth for our clients. Our integrated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.10 Td (teams bring together our understanding of risk strategies and market analytics. ) Tj ET Q q 0 0 0 rg BT 365.84 250.10 Td (This helps clients around the world to achieve ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.10 Td (their objectives.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 113.87 238.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 217.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 217.10 Td (e operate in attractive markets - both growing and mature - with a diversified platform across geographies, industries, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 205.10 Td (segments and lines of business. ) Tj ET Q q 0 0 0 rg BT 177.58 205.10 Td (W) Tj ET Q q 0 0 0 rg BT 186.22 205.10 Td (e aim to create and become the premier advisory) Tj ET Q q 0 0 0 rg BT 379.93 205.10 Td (, broking and solutions company of choice ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 193.10 Td (globally) Tj ET Q q 0 0 0 rg BT 82.12 193.10 Td (. ) Tj ET Q q 0 0 0 rg BT 86.94 193.10 Td (W) Tj ET Q q 0 0 0 rg BT 95.58 193.10 Td (e design and deliver solutions that manage risk, optimize benefits, cultivate talent, and expand the power of capital ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 181.10 Td (to protect and strengthen institutions and individuals. ) Tj ET Q q 0 0 0 rg BT 264.79 181.10 Td (W) Tj ET Q q 0 0 0 rg BT 273.43 181.10 Td (e also help or) Tj ET Q q 0 0 0 rg BT 326.84 181.10 Td (ganizations improve performance through ef) Tj ET Q q 0 0 0 rg BT 504.93 181.10 Td (fective ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 169.10 Td (people, risk and financial management, by focusing on providing human capital and financial consulting services.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.15 169.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 148.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 148.10 Td (e believe we can achieve this by:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.24 148.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 127.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 127.10 Td (Delivering a powerful client proposition with an integrated global platform. 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1 rg /GS0 gs 527.50 515.75 32.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 51.50 485.75 263.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 485.75 43.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 485.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 361.50 485.75 32.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 393.50 485.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 397.50 485.75 43.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.50 485.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 444.50 485.75 32.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.50 485.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.50 485.75 43.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 523.50 485.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 527.50 485.75 32.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 51.50 455.75 263.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 455.75 43.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 455.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 361.50 455.75 32.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 393.50 455.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 397.50 455.75 43.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.50 455.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 444.50 455.75 32.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.50 455.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.50 455.75 43.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 523.50 455.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 527.50 455.75 32.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 51.50 425.75 263.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 425.75 43.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 425.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 361.50 425.75 32.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 393.50 425.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 397.50 425.75 43.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.50 425.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 444.50 425.75 32.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.50 425.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.50 425.75 43.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 523.50 425.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 527.50 425.75 32.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 51.50 385.75 263.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 385.75 43.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 385.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 361.50 385.75 32.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 393.50 385.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 397.50 385.75 43.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.50 385.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 444.50 385.75 32.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.50 385.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.50 385.75 43.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 523.50 385.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 527.50 385.75 32.00 -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 314.5 650.75 m 357.5 650.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 650.75 m 361.5 650.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 361.5 650.75 m 393.5 650.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 393.5 650.75 m 397.5 650.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 650.75 m 440.5 650.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440.5 650.75 m 444.5 650.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 444.5 650.75 m 476.5 650.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 476.5 650.75 m 480.5 650.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 650.75 m 523.5 650.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 523.5 650.75 m 527.5 650.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 527.5 650.75 m 559.5 650.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314.5 635.75 m 357.5 635.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 635.75 m 361.5 635.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 361.5 635.75 m 393.5 635.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 650.75 m 440.5 650.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 635.75 m 440.5 635.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440.5 650.75 m 444.5 650.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440.5 635.75 m 444.5 635.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 444.5 650.75 m 476.5 650.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 635.75 m 523.5 635.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 523.5 635.75 m 527.5 635.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 527.5 635.75 m 559.5 635.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314.5 620.75 m 357.5 620.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 620.75 m 440.5 620.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 444.5 635.75 m 476.5 635.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 635.75 m 523.5 635.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 620.75 m 523.5 620.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 527.5 635.75 m 559.5 635.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314.5 620.75 m 357.5 620.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 620.75 m 440.5 620.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 620.75 m 523.5 620.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314.5 515.75 m 357.5 515.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 515.75 m 440.5 515.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 515.75 m 523.5 515.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314.5 500.75 m 357.5 500.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 515.75 m 440.5 515.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 500.75 m 440.5 500.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 515.75 m 523.5 515.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 500.75 m 523.5 500.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 500.75 m 523.5 500.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314.5 410.75 m 357.5 410.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 410.75 m 440.5 410.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314.5 386.75 m 357.5 386.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314.5 384.75 m 357.5 384.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 386.75 m 440.5 386.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 384.75 m 440.5 384.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 410.75 m 523.5 410.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 386.75 m 523.5 386.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 384.75 m 523.5 384.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314.5 356.75 m 357.5 356.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314.5 354.75 m 357.5 354.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 356.75 m 440.5 356.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 354.75 m 440.5 354.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 356.75 m 523.5 356.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 354.75 m 523.5 354.75 l s BT /F1 9.00 Tf ET q 0 0 0 rg BT 54.00 655.21 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 385.80 655.20 Td (Years ended December 31,) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 54.00 640.21 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 344.50 640.20 Td (2016) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 427.50 640.20 Td (2015) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 510.50 640.20 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 625.42 Td (Total revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.00 625.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.10 625.42 Td (7,887) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 366.30 625.42 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.65 625.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.00 625.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.10 625.42 Td (3,829) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.30 625.42 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.65 625.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.00 625.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.10 625.42 Td (3,802) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.30 625.42 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.65 625.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 610.42 Td (Costs of providing services) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 595.42 Td (Salaries and benefits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.10 595.42 Td (4,646) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.30 595.42 Td (59) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.65 595.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.10 595.42 Td (2,303) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.30 595.42 Td (60) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.65 595.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.10 595.42 Td (2,314) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.30 595.42 Td (61) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.65 595.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 580.42 Td (Other operating expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.10 580.42 Td (1,551) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.30 580.42 Td (20) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.65 580.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.65 580.42 Td (718) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.30 580.42 Td (19) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.65 580.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.65 580.42 Td (659) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.30 580.42 Td (17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.65 580.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 565.42 Td (Depreciation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.65 565.42 Td (178) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.30 565.42 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.65 565.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.65 565.42 Td (95) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.30 565.42 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.65 565.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.65 565.42 Td (92) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.30 565.42 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.65 565.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 550.42 Td (Amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.65 550.42 Td (591) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.30 550.42 Td (7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.65 550.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.65 550.42 Td (76) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.30 550.42 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.65 550.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.65 550.42 Td (54) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.30 550.42 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.65 550.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 535.42 Td (Restructuring costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.65 535.42 Td (193) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.30 535.42 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.65 535.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.65 535.42 Td (126) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.30 535.42 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.65 535.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.65 535.42 Td (36) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.30 535.42 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.65 535.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 520.42 Td (Transaction and integration expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.65 520.42 Td (177) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.30 520.42 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.65 520.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.65 520.42 Td (84) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.30 520.42 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.65 520.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.65 520.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.30 520.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.65 520.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 505.42 Td (Total costs of providing services) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.10 505.42 Td (7,336) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.10 505.42 Td (3,402) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.10 505.42 Td (3,155) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 490.42 Td (Income from operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.65 490.42 Td (551) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.30 490.42 Td (7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.65 490.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.65 490.42 Td (427) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.30 490.42 Td (11) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.65 490.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.65 490.42 Td (647) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.30 490.42 Td (17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.65 490.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 475.42 Td (Interest expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.65 475.42 Td (184) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.30 475.42 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.65 475.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.65 475.42 Td (142) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.30 475.42 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.65 475.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.65 475.42 Td (135) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.30 475.42 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.65 475.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 460.42 Td (Other expense/\(income\), net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.65 460.42 Td (27) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.30 460.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.65 460.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.30 460.47 Td (\(55) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.65 460.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.30 460.42 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.65 460.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.30 460.47 Td (\(6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.65 460.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.30 460.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.65 460.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 445.42 Td (\(Benefit from\)/provision for income taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.30 445.47 Td (\(96) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.65 445.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.95 445.42 Td (\(1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.30 445.42 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.30 445.47 Td (\(33) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.65 445.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.30 445.42 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.65 445.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.65 445.42 Td (159) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.30 445.42 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.65 445.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 430.42 Td (Interest in earnings of associates, net of tax) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.65 430.42 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.30 430.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.65 430.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.65 430.42 Td (11) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.30 430.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.65 430.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.65 430.42 Td (14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.30 430.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.65 430.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 415.42 Td (Income attributable to noncontrolling interests) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.30 415.47 Td (\(18) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.65 415.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.30 415.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.65 415.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.30 415.47 Td (\(11) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.65 415.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.30 415.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.65 415.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.30 415.47 Td (\(11) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.65 415.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.30 415.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.65 415.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 400.42 Td (NET INCOME ATTRIBUTABLE TO WILLIS TOWERS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 390.42 Td (WATSON) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.00 390.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.65 390.42 Td (420) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.30 390.42 Td (5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.65 390.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.00 390.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.65 390.42 Td (373) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.30 390.42 Td (10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.65 390.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.00 390.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.65 390.42 Td (362) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.30 390.42 Td (10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.65 390.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 360.42 Td (Diluted earnings per share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.00 360.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.15 360.42 Td (3.04) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.00 360.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.15 360.42 Td (5.41) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.00 360.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.15 360.42 Td (5.32) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 335.25 Td (The Mer) Tj ET Q q 0 0 0 rg BT 84.53 335.25 Td (ger af) Tj ET Q q 0 0 0 rg BT 107.38 335.25 Td (fects the comparability of this data between 2016 and other periods presented. See Supplementary Pro Forma ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 323.25 Td (Financial Information) Tj ET Q q 0 0 0 rg BT 140.06 323.25 Td ( for additional analysis.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 233.93 323.25 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 302.25 Td (Revenues) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 89.44 302.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 281.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 281.25 Td (e derive the majority of our revenues from commissions from our brokerage businesses and fees for consulting services. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 269.25 Td (Brokerage income and fees negotiated in lieu of commissions are recognized at the later of the policy inception date or when ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 257.25 Td (the policy placement is complete or as the fees are otherwise determined. Commissions on additional premiums and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 245.25 Td (adjustments are recognized when approved by or agreed between the parties and collectability is reasonably assured. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 233.25 Td (Consulting revenue is generally recognized as services are performed. No single client represented a significant concentration ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 221.25 Td (of our consolidated revenues for any of our three most recent fiscal years.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.61 221.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 200.25 Td (The following table details our top five markets based on percentage of consolidated revenues from the countries where work is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 188.25 Td (performed for the year ended December 31, 2016. ) Tj ET Q q 0 0 0 rg BT 252.51 188.25 Td (These figures do not represent the currency of the related revenue, which is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 176.25 Td (presented in the succeeding table.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 144.75 455.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 144.75 57.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 114.75 455.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 114.75 57.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 84.75 455.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 84.75 57.00 -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 505.5 144.75 m 562.5 144.75 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 53.00 148.98 Td (Geographic Region) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 525.15 156.98 Td (% of) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 517.25 148.98 Td (Revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 135.32 Td (United States) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 134.42 Td (48) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 134.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 120.32 Td (United Kingdom) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 119.42 Td (23) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 119.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 105.32 Td (France) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 104.42 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 104.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 90.32 Td (Canada) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 89.42 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 89.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 75.32 Td (Germany) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 74.42 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 74.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 83 0 obj <> endobj 84 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (41) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (The table below details our revenues and expenses by transactional currency for the year ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.45 742.10 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.04 742.10 Td (.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 717.60 392.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 717.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 717.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 717.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 687.60 392.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 687.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 687.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 687.60 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 442.5 717.6 m 500.5 717.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 717.6 m 562.5 717.6 l s BT /F2 9.00 Tf ET q 0 0 0 rg BT 452.75 722.05 Td (Revenues) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 511.35 722.05 Td (Expenses ) Tj ET Q BT /F2 9.00 Tf ET BT /F2 5.85 Tf ET q 0 0 0 rg BT 549.11 726.13 Td (\(i\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 707.27 Td (U.S. dollars) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.80 707.27 Td (56%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.80 707.27 Td (48%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 692.27 Td (Pounds sterling) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.80 692.27 Td (14%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.80 692.27 Td (20%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 677.27 Td (Euro) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.80 677.27 Td (14%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.80 677.27 Td (13%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 662.27 Td (Other currencies) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.80 662.27 Td (16%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.80 662.27 Td (19%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (____________________) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 150.00 646.10 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 68.00 633.50 Td (\(i\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 633.50 Td (These percentages exclude certain expenses for significant items which will not be settled in cash, or which we believe to be items that are not core ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 623.90 Td (to our current or future operations. ) Tj ET Q q 0 0 0 rg BT 198.48 623.90 Td (These items include Mer) Tj ET Q q 0 0 0 rg BT 277.65 623.90 Td (ger) Tj ET Q q 0 0 0 rg BT 287.70 623.90 Td (-related amortization of intangible assets, restructuring costs, and transaction and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 614.30 Td (integration expenses.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 153.54 614.30 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 593.30 Td (The following table sets out the total revenues for the year ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.13 593.30 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.72 593.30 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.16 593.30 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.16 593.30 Td ( and the components of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 581.30 Td (change in total revenues for the year ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.37 581.30 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.95 581.30 Td (:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 531.80 106.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 156.50 531.80 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 162.50 531.80 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 226.50 531.80 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 232.50 531.80 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 296.50 531.80 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 531.80 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.50 531.80 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 354.50 531.80 47.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.50 531.80 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 406.50 531.80 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 454.50 531.80 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 531.80 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.50 531.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 514.50 531.80 48.00 -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 162.5 557.8 m 226.5 557.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 226.5 557.8 m 232.5 557.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 232.5 557.8 m 296.5 557.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 354.5 557.8 m 401.5 557.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 401.5 557.8 m 406.5 557.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 557.8 m 454.5 557.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 454.5 557.8 m 459.5 557.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 557.8 m 510.5 557.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510.5 557.8 m 514.5 557.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514.5 557.8 m 562.5 557.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 162.5 544.8 m 226.5 544.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 232.5 544.8 m 296.5 544.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 557.8 m 349.5 557.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 354.5 557.8 m 401.5 557.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 401.5 557.8 m 406.5 557.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 557.8 m 454.5 557.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 454.5 557.8 m 459.5 557.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 557.8 m 510.5 557.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510.5 557.8 m 514.5 557.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514.5 557.8 m 562.5 557.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 531.8 m 349.5 531.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 354.5 531.8 m 401.5 531.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 531.8 m 454.5 531.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 531.8 m 510.5 531.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514.5 531.8 m 562.5 531.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 162.5 517.8 m 226.5 517.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 162.5 515.8 m 226.5 515.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 232.5 517.8 m 296.5 517.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 232.5 515.8 m 296.5 515.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 531.8 m 349.5 531.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 516.8 m 349.5 516.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 354.5 516.8 m 401.5 516.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 531.8 m 454.5 531.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 516.8 m 454.5 516.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 531.8 m 510.5 531.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 516.8 m 510.5 516.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514.5 531.8 m 562.5 531.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514.5 516.8 m 562.5 516.8 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 183.95 562.03 Td (Years ended December 31,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 417.95 562.03 Td (Components of Change) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 186.00 549.03 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 256.00 549.03 Td (2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 320.55 549.88 Td (As) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 309.00 541.88 Td (Reported) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 311.85 533.93 Td (Change) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 361.10 544.03 Td (Currency) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 365.25 536.03 Td (Impact) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 414.40 549.88 Td (Constant) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 413.60 541.88 Td (Currency) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 416.85 533.93 Td (Change) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 462.25 544.03 Td (Acquisitions/) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 464.10 536.03 Td (Divestitures) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 524.00 544.03 Td (Organic) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 524.85 536.03 Td (Change) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 208.40 536.03 Td (\(in millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 521.47 Td (Total revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 165.00 521.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 200.15 521.47 Td (7,887) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 235.00 521.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.15 521.47 Td (3,829) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.30 521.47 Td (106%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.50 521.47 Td (\(6\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.30 521.47 Td (112%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.80 521.47 Td (112%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.80 521.47 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 496.30 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 496.30 Td (otal revenues for the year ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 185.90 496.30 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 264.49 496.30 Td ( were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.92 496.30 Td ($7.9 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.03 496.30 Td (,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.53 496.30 Td ( compared to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.23 496.30 Td ($3.8 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.34 496.30 Td ( for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.72 496.30 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.31 496.30 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 484.30 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.58 484.30 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 133.58 484.30 Td (an increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 178.28 484.30 Td ( of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.61 484.30 Td ($4.1 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 237.72 484.30 Td ( or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 251.05 484.30 Td (106%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.38 484.30 Td (. ) Tj ET Q q 0 0 0 rg BT 279.20 484.30 Td (This growth in revenues was driven by our Mer) Tj ET Q q 0 0 0 rg BT 469.53 484.30 Td (ger with ) Tj ET Q q 0 0 0 rg BT 504.90 484.30 Td (T) Tj ET Q q 0 0 0 rg BT 510.31 484.30 Td (owers ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 472.30 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 472.30 Td (atson and our acquisition of Gras Savoye.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.55 472.30 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 451.30 Td (Our revenues can be materially impacted by changes in currency conversions, which can fluctuate significantly over the course ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 439.30 Td (of a calendar year) Tj ET Q q 0 0 0 rg BT 120.79 439.30 Td (. For the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 159.39 439.30 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 202.98 439.30 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 205.48 439.30 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.06 439.30 Td (, currency translation decreased our consolidated revenues by $1) Tj ET Q q 0 0 0 rg BT 542.20 439.30 Td (1) Tj ET Q q 0 0 0 rg BT 546.83 439.30 Td (1 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 427.30 Td (million. ) Tj ET Q q 0 0 0 rg BT 83.71 427.30 Td (The primary currency driving the change was the Pound sterling, which weakened against the U.S. dollar during the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 415.30 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 93.58 415.30 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 96.08 415.30 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 174.67 415.30 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 177.17 415.30 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.30 Td (The following table sets out the total revenues for the year ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.13 394.30 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.72 394.30 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.16 394.30 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.16 394.30 Td ( and the components of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.30 Td (change in total revenues for the year ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.37 382.30 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.95 382.30 Td (:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.73 382.30 Td ( ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 332.80 106.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 156.50 332.80 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 162.50 332.80 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 226.50 332.80 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 232.50 332.80 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 296.50 332.80 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 332.80 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.50 332.80 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 354.50 332.80 47.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.50 332.80 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 406.50 332.80 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 454.50 332.80 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 332.80 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.50 332.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 514.50 332.80 48.00 -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 162.5 358.8 m 226.5 358.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 226.5 358.8 m 232.5 358.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 232.5 358.8 m 296.5 358.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 354.5 358.8 m 401.5 358.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 401.5 358.8 m 406.5 358.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 358.8 m 454.5 358.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 454.5 358.8 m 459.5 358.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 358.8 m 510.5 358.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510.5 358.8 m 514.5 358.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514.5 358.8 m 562.5 358.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 162.5 358.8 m 226.5 358.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 162.5 345.8 m 226.5 345.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 232.5 358.8 m 296.5 358.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 232.5 345.8 m 296.5 345.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 358.8 m 349.5 358.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 354.5 358.8 m 401.5 358.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 401.5 358.8 m 406.5 358.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 358.8 m 454.5 358.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 454.5 358.8 m 459.5 358.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 358.8 m 510.5 358.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510.5 358.8 m 514.5 358.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514.5 358.8 m 562.5 358.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 332.8 m 349.5 332.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 354.5 332.8 m 401.5 332.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 332.8 m 454.5 332.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 332.8 m 510.5 332.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514.5 332.8 m 562.5 332.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 162.5 318.8 m 226.5 318.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 162.5 316.8 m 226.5 316.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 232.5 318.8 m 296.5 318.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 232.5 316.8 m 296.5 316.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 332.8 m 349.5 332.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 317.8 m 349.5 317.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 354.5 332.8 m 401.5 332.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 354.5 317.8 m 401.5 317.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 332.8 m 454.5 332.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 317.8 m 454.5 317.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 332.8 m 510.5 332.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 317.8 m 510.5 317.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514.5 332.8 m 562.5 332.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514.5 317.8 m 562.5 317.8 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 183.95 363.03 Td (Years ended December 31,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 417.95 363.03 Td (Components of Change) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 186.00 350.03 Td (2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 256.00 350.03 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 320.55 350.88 Td (As) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 309.00 342.88 Td (Reported) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 311.85 334.93 Td (Change) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 361.10 345.03 Td (Currency) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 365.25 337.03 Td (Impact) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 414.40 350.88 Td (Constant) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 413.60 342.88 Td (Currency) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 416.85 334.93 Td (Change) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 462.25 345.03 Td (Acquisitions/) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 464.10 337.03 Td (Divestitures) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 524.00 345.03 Td (Organic) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 524.85 337.03 Td (Change) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 208.40 337.03 Td (\(in millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 322.47 Td (Total revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 165.00 322.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 200.15 322.47 Td (3,829) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 235.00 322.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.15 322.47 Td (3,802) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.30 322.47 Td (1%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.50 322.47 Td (\(6\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.30 322.47 Td (7%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.80 322.47 Td (4%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.30 322.47 Td (3%) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 297.30 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 297.30 Td (otal revenues for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 139.82 297.30 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 183.40 297.30 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 185.90 297.30 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 264.49 297.30 Td ( were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.92 297.30 Td ($3.8 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.03 297.30 Td (, compared to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.23 297.30 Td ($3.8 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.34 297.30 Td ( for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.72 297.30 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.31 297.30 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 285.30 Td (December31, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.58 285.30 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 133.58 285.30 Td (an increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 178.28 285.30 Td ( of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.61 285.30 Td ($27 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.00 285.30 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 253.83 285.30 Td (1%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 267.16 285.30 Td (. ) Tj ET Q q 0 0 0 rg BT 271.98 285.30 Td (This growth in revenues was driven primarily by a $1) Tj ET Q q 0 0 0 rg BT 486.28 285.30 Td (15 million or) Tj ET Q q 0 0 0 rg BT 538.32 285.30 Td (ganic ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 273.30 Td (growth in commissions and fees and a net $157 million increase through acquisitions, partially of) Tj ET Q q 0 0 0 rg BT 439.46 273.30 Td (fset by a $15 million or) Tj ET Q q 0 0 0 rg BT 532.88 273.30 Td (ganic ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 261.30 Td (decline in interest and other income and $230 million in adverse foreign currency movements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.10 261.30 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 240.30 Td (In 2015, the foreign currency impact was as a result of the strengthening of the U.S. dollar against a number of currencies, most ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 228.30 Td (significantly the Euro and the Pound sterling.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 231.36 228.30 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 207.30 Td (Definitions of Constant Currency Change and Or) Tj ET Q q 0 0 0 rg BT 246.45 207.30 Td (ganic Change are included in the section entitled Non-GAAP) Tj ET Q q 0 0 0 rg BT 494.34 207.30 Td ( Financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 195.30 Td (Measures) Tj ET Q q 0 0 0 rg BT 90.91 195.30 Td ( in this) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.13 195.30 Td ( Form 10-K.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 174.30 Td (Salaries and Benefits) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 137.79 174.30 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 153.30 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 153.30 Td (otal salaries and benefits for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 185.36 153.30 Td (years ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.84 153.30 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 235.34 153.30 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.92 153.30 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.36 153.30 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.94 153.30 Td ( were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.37 153.30 Td ($4.6 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.49 153.30 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.92 153.30 Td ($2.3 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.04 153.30 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 141.30 Td (respectively) Tj ET Q q 0 0 0 rg BT 97.66 141.30 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 102.66 141.30 Td (an increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 147.35 141.30 Td ( of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 160.68 141.30 Td ($2.3 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 206.80 141.30 Td (. ) Tj ET Q q 0 0 0 rg BT 211.62 141.30 Td (The growth in expenses was primarily driven by the Mer) Tj ET Q q 0 0 0 rg BT 438.88 141.30 Td (ger and our acquisition of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 129.30 Td (Gras Savoye. Salaries and benefits for the years ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.42 129.30 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.01 129.30 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.44 129.30 Td (December31, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.03 129.30 Td ( were $) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.46 129.30 Td (2.3 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.57 129.30 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.01 129.30 Td ($2.3 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 117.30 Td (billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.11 117.30 Td (, respectively) Tj ET Q q 0 0 0 rg BT 128.77 117.30 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 133.77 117.30 Td (a decrease) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 175.13 117.30 Td ( of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 188.46 117.30 Td ($1) Tj ET Q q 0 0 0 rg BT 198.09 117.30 Td (1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 234.48 117.30 Td (. ) Tj ET Q q 0 0 0 rg BT 239.30 117.30 Td (The decrease was primarily related to an additional $109 million related to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 105.30 Td (acquisitions and $31 million from increased headcount, pay reviews, and higher incentives, of) Tj ET Q q 0 0 0 rg BT 426.10 105.30 Td (fset by $148 million of favorable ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 93.30 Td (foreign currency movements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 167.46 93.30 Td ( ) Tj ET Q q 0 0 0 rg BT 169.40 93.30 Td (As a percentage of commissions and fees revenues, salaries and benefits expenses represented ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 81.30 Td (60%, 60% and 61% for the years ended December 31, 2016, 2015 and 2014, respectively) Tj ET Q q 0 0 0 rg BT 406.46 81.30 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.96 81.30 Td ( ) Tj ET Q endstream endobj 85 0 obj <> endobj 86 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (42) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (Other Operating Expenses) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 159.45 742.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 721.25 Td (Other operating expenses include occupancy) Tj ET Q q 0 0 0 rg BT 228.17 721.25 Td (, legal, marketing, licenses, royalties, supplies, technology) Tj ET Q q 0 0 0 rg BT 460.80 721.25 Td (, printing and telephone ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 709.25 Td (costs, as well as insurance, including premiums on excess insurance and losses on professional liability claims, non-client-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 697.25 Td (reimbursed travel by colleagues, publications, professional subscriptions and development, recruitment, other professional fees ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 685.25 Td (and irrecoverable value added and sales taxes.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 234.63 685.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 664.25 Td (Other operating expenses for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 183.01 664.25 Td (years ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 230.48 664.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.98 664.25 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.57 664.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.01 664.25 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.59 664.25 Td ( were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.02 664.25 Td ($1.6 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.13 664.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.57 664.25 Td ($718 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.96 664.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 652.25 Td (respectively) Tj ET Q q 0 0 0 rg BT 97.66 652.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 102.66 652.25 Td (an increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 147.35 652.25 Td ( of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 160.68 652.25 Td ($833 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 212.08 652.25 Td (. ) Tj ET Q q 0 0 0 rg BT 216.89 652.25 Td (The growth in expenses was primarily driven by the Mer) Tj ET Q q 0 0 0 rg BT 444.16 652.25 Td (ger and our acquisition of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 640.25 Td (Gras Savoye. Other operating expenses for the years ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.30 640.25 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.89 640.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.33 640.25 Td (December31, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.91 640.25 Td ( were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.34 640.25 Td ($718 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.73 640.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 628.25 Td ($659 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 101.39 628.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 154.05 628.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 159.05 628.25 Td (an increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 203.75 628.25 Td ( of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 217.08 628.25 Td ($59 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 263.47 628.25 Td (. ) Tj ET Q q 0 0 0 rg BT 268.29 628.25 Td (This growth included a net $36 million increase from acquisitions and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 616.25 Td (disposals, and a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 115.55 616.25 Td ($70 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 161.94 616.25 Td ( increase relating to the provision for the Stanford litigation. Growth was partially of) Tj ET Q q 0 0 0 rg BT 502.50 616.25 Td (fset primarily ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 604.25 Td (by $42 million of favorable foreign currency movements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.93 604.25 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 583.25 Td (Depreciation ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 105.83 583.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.25 Td (Depreciation represents the expense incurred over the useful life of our tangible fixed assets and internally developed software. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.25 Td (Depreciation for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 133.02 550.25 Td (years ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 180.49 550.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 182.99 550.25 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.58 550.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.02 550.25 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.60 550.25 Td ( was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.15 550.25 Td ($178 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.54 550.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.98 550.25 Td ($95 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.37 550.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 550.03 550.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.25 Td (an increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 94.69 538.25 Td ( of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.02 538.25 Td ($83 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 154.41 538.25 Td (. ) Tj ET Q q 0 0 0 rg BT 159.23 538.25 Td (The growth in expenses was primarily driven by the Mer) Tj ET Q q 0 0 0 rg BT 386.49 538.25 Td (ger and our acquisition of Gras Savoye. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.25 Td (Depreciation expense for the years ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 217.70 526.25 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.28 526.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.72 526.25 Td (December31, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.31 526.25 Td ( was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.86 526.25 Td ($95 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.25 526.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.69 526.25 Td ($92 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.08 526.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.25 Td (respectively) Tj ET Q q 0 0 0 rg BT 97.66 514.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 102.66 514.25 Td (an increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 147.35 514.25 Td ( of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 160.68 514.25 Td ($3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 202.08 514.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 204.58 514.25 Td ( ) Tj ET Q q 0 0 0 rg BT 206.89 514.25 Td (The increase of $3 million included an or) Tj ET Q q 0 0 0 rg BT 371.94 514.25 Td (ganic increase of $4 million and a net $4 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.25 Td (million increase from acquisitions and disposals, partially of) Tj ET Q q 0 0 0 rg BT 291.44 502.25 Td (fset by $5 million of favorable foreign currency movements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.31 502.25 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 481.25 Td (Amortization) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 103.91 481.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 460.25 Td (Amortization includes amortization of acquired intangible assets, including acquired internally developed software. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 448.25 Td (Amortization for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 134.70 448.25 Td (years ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 182.17 448.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 184.67 448.25 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 263.26 448.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.70 448.25 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.28 448.25 Td ( was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.83 448.25 Td ($591 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.22 448.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.66 448.25 Td ($76 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.05 448.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 551.71 448.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 436.25 Td (an increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 94.69 436.25 Td ( of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.02 436.25 Td ($515 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 159.41 436.25 Td (. ) Tj ET Q q 0 0 0 rg BT 164.23 436.25 Td (The primary driver of the increase in amortization was our acquisition of approximately $4.0 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 424.25 Td (billion in intangible assets in our Mer) Tj ET Q q 0 0 0 rg BT 199.80 424.25 Td (ger with ) Tj ET Q q 0 0 0 rg BT 235.17 424.25 Td (T) Tj ET Q q 0 0 0 rg BT 240.58 424.25 Td (owers ) Tj ET Q q 0 0 0 rg BT 266.78 424.25 Td (W) Tj ET Q q 0 0 0 rg BT 275.42 424.25 Td (atson and our acquisition of $231 million and $440 million of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 412.25 Td (intangible assets related to our acquisitions of Miller and Gras Savoye, respectively) Tj ET Q q 0 0 0 rg BT 383.15 412.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.65 412.25 Td ( ) Tj ET Q q 0 0 0 rg BT 387.60 412.25 Td (Amortization for the year ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 400.25 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.58 400.25 Td ( was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 149.14 400.25 Td ($76 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 195.53 400.25 Td (, an increase of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.55 400.25 Td ($22 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.94 400.25 Td ( compared to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.64 400.25 Td (December31, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.23 400.25 Td (. ) Tj ET Q q 0 0 0 rg BT 445.55 400.25 Td (The increase primarily ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 388.25 Td (reflects the increased expense related to our acquisitions of Charles Monat and Max Matthiessen, partially of) Tj ET Q q 0 0 0 rg BT 485.23 388.25 Td (fset by the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 376.25 Td (ongoing reduction in the Hilb Rogal Hobbs Company) Tj ET Q q 0 0 0 rg BT 264.05 376.25 Td (, a wholly owned subsidiary) Tj ET Q q 0 0 0 rg BT 375.89 376.25 Td (, acquisition amortization.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.31 376.25 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 355.25 Td (Restructuring Costs) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 131.97 355.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.25 Td (Restructuring costs for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 158.31 334.25 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 201.89 334.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 204.39 334.25 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.98 334.25 Td ( were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.41 334.25 Td ($193 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.80 334.25 Td ( of which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.07 334.25 Td ($145 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.46 334.25 Td ( related to the Operational ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.25 Td (Improvement Program \(OIP\) and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 192.18 322.25 Td ($48 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.57 322.25 Td ( relating to the Business Restructure Program. Restructuring costs for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.52 322.25 Td (years ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.25 Td (ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 73.88 310.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.38 310.25 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 154.96 310.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 174.40 310.25 Td (December31, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 252.98 310.25 Td ( were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 277.41 310.25 Td ($126 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.80 310.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.24 310.25 Td ($36 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.63 310.25 Td (, respectively) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.29 310.25 Td (, all of which was related to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.25 Td (the OIP) Tj ET Q q 0 0 0 rg BT 79.72 298.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 82.22 298.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 84.72 298.25 Td (See our discussion in the Operational Improvement Program and Business Restructure Program section herein and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.25 Td (Note 5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.94 286.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 91.94 286.25 Td (Restructuring Costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 171.10 286.25 Td ( within Item 8 of this ) Tj ET Q q 0 0 0 rg BT 257.21 286.25 Td (Annual Report on Form 10-K for additional details about these expenses.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.21 286.25 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 265.25 Td (T) Tj ET Q q 0 0 0 rg BT 55.74 265.25 Td (ransaction and integration expenses) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 204.93 265.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 244.25 Td (T) Tj ET Q q 0 0 0 rg BT 55.76 244.25 Td (ransaction and integration expenses include fees and char) Tj ET Q q 0 0 0 rg BT 285.21 244.25 Td (ges associated with our mer) Tj ET Q q 0 0 0 rg BT 396.10 244.25 Td (gers and acquisitions and principally ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 232.25 Td (consist of integration consultants and contract termination fees, as well as legal, accounting, marketing, and information ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 220.25 Td (technology transaction and integration expenses. ) Tj ET Q q 0 0 0 rg BT 246.98 220.25 Td (These costs also include retention and severance costs and the write-of) Tj ET Q q 0 0 0 rg BT 529.48 220.25 Td (f of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 208.25 Td (software development as a direct consequence of the Mer) Tj ET Q q 0 0 0 rg BT 279.72 208.25 Td (ger) Tj ET Q q 0 0 0 rg BT 291.94 208.25 Td (. ) Tj ET Q q 0 0 0 rg BT 296.76 208.25 Td (T) Tj ET Q q 0 0 0 rg BT 302.51 208.25 Td (ransaction and integration expenses for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.34 208.25 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.93 208.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 196.25 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.58 196.25 Td ( were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 153.01 196.25 Td ($177 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 204.40 196.25 Td (. ) Tj ET Q q 0 0 0 rg BT 208.85 196.25 Td (Approximately $162 million of these expenses were related to the Mer) Tj ET Q q 0 0 0 rg BT 491.37 196.25 Td (ger and $15 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 184.25 Td (million were related to the acquisition of Gras Savoye. ) Tj ET Q q 0 0 0 rg BT 270.87 184.25 Td (T) Tj ET Q q 0 0 0 rg BT 276.63 184.25 Td (ransaction and integration expenses for the year ended December 31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 172.25 Td (2015 were $84 million. ) Tj ET Q q 0 0 0 rg BT 147.77 172.25 Td (Approximately $58 million of these expenses were related to the Mer) Tj ET Q q 0 0 0 rg BT 425.28 172.25 Td (ger) Tj ET Q q 0 0 0 rg BT 437.65 172.25 Td (, $15 million were related to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 160.25 Td (the acquisition of Gras Savoye and $1) Tj ET Q q 0 0 0 rg BT 201.82 160.25 Td (1 million were related to our acquisition of Miller) Tj ET Q q 0 0 0 rg BT 400.10 160.25 Td (. ) Tj ET Q q 0 0 0 rg BT 407.42 160.25 Td (T) Tj ET Q q 0 0 0 rg BT 413.18 160.25 Td (ransaction and integration expenses ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 148.25 Td (for 2014 were included in other operating costs and are immaterial for reclassification.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.26 148.25 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 127.25 Td (Income from Operations) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 151.67 127.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 106.25 Td (Income from operations for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 177.46 106.25 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 221.04 106.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 223.54 106.25 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.12 106.25 Td ( was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.68 106.25 Td ($551 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.07 106.25 Td ( compared to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.77 106.25 Td ($427 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.16 106.25 Td ( for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.54 106.25 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 555.12 106.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 94.25 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.58 94.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 133.58 94.25 Td (an increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 178.28 94.25 Td ( of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.61 94.25 Td ($124 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.00 94.25 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.83 94.25 Td (29%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 277.16 94.25 Td (. ) Tj ET Q q 0 0 0 rg BT 281.98 94.25 Td (This growth in income from operations compared to that of 2015 was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 82.25 Td (primarily driven by the Mer) Tj ET Q q 0 0 0 rg BT 161.46 82.25 Td (ger and our acquisition of Gras Savoye. Income from operations for the year ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.06 82.25 Td (December31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 70.25 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 70.25 Td ( was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.55 70.25 Td ($427 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 141.94 70.25 Td ( compared to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.65 70.25 Td ($647 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.04 70.25 Td ( for the year ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 325.50 70.25 Td (December31, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.08 70.25 Td (, a decrease of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.76 70.25 Td ($220 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.16 70.25 Td (. ) Tj ET Q q 0 0 0 rg BT 519.98 70.25 Td (This was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 58.25 Td (primarily due to the $90 million increase in restructuring costs related to the Operational Improvement Program, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.09 58.25 Td ($70 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 46.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.89 46.25 Td ( increase in the litigation provision relating to the Stanford litigation and an increase in expenses as the mid-year ) Tj ET Q endstream endobj 87 0 obj <> endobj 88 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (43) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (acquisition of Miller resulted in its expenses initially exceeding the increase in revenues generated by the acquisition, due to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (seasonal profile of the business.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 177.47 730.10 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 709.10 Td (Interest expense) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 116.94 709.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 688.10 Td (Interest expense for the years ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.04 688.10 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.63 688.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.63 688.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.63 688.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.07 688.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.07 688.10 Td ( was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.62 688.10 Td ($184 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.01 688.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.01 688.10 Td ($142 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.40 688.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.84 688.10 Td ($135 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.23 688.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 676.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 97.66 676.10 Td (. Interest expense is primarily related to interest on our senior notes and term loans. Interest expense increased by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 664.10 Td ($42 million for the year ended December 31, 2016, which was primarily related to additional debt acquired in the Mer) Tj ET Q q 0 0 0 rg BT 522.72 664.10 Td (ger and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 652.10 Td (as part of the acquisition of Gras Savoye. Interest expense increased by $7 million for the year ended December 31, 2015 as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 640.10 Td (compared to the year ended December 31, 2014, which was primarily related to the $8 million increase in the unwind of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 628.10 Td (discount on contingent and deferred considerations.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.61 628.10 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 607.10 Td (Other expense/\(income\), net) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 166.37 607.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (Other expense/\(income\), net, includes other gains and losses, including gains and losses on foreign currency transactions.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.70 586.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 565.10 Td (Other expense/\(income\), net for the year ended December 31, 2016 was an expense of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.64 565.10 Td ($27 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.03 565.10 Td (, which was primarily ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 553.10 Td (foreign currency transaction losses. Other expense/\(income\), net for the year ended December 31, 2015 was income of $55 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 541.10 Td (million, which included gains on disposal of operations of $25 million, gain on remeasurement of equity interests related to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 529.10 Td (Gras Savoye acquisition of $59 million, partially of) Tj ET Q q 0 0 0 rg BT 255.89 529.10 Td (fset by the $30 million impact of the ) Tj ET Q q 0 0 0 rg BT 404.02 529.10 Td (V) Tj ET Q q 0 0 0 rg BT 410.13 529.10 Td (enezuelan currency devaluation. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 517.10 Td (Other expense/\(income\), net for the year ended December 31, 2014 was income of $6 million which included gains on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 505.10 Td (disposals of operations of $12 million and gains related to foreign currency transactions of $8 million, partially of) Tj ET Q q 0 0 0 rg BT 504.71 505.10 Td (fset by the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 493.10 Td ($14 million impact of the ) Tj ET Q q 0 0 0 rg BT 153.97 493.10 Td (V) Tj ET Q q 0 0 0 rg BT 160.08 493.10 Td (enezuelan currency devaluation.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.18 493.10 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 472.10 Td (\(Benefit from\)/Provision for Income T) Tj ET Q q 0 0 0 rg BT 207.40 472.10 Td (axes) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 225.73 472.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 451.10 Td (\(Benefit from\)/provision for income taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 217.73 451.10 Td ( for the years ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.08 451.10 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.67 451.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.67 451.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.67 451.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.10 451.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.10 451.10 Td ( were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.53 451.10 Td ($\(96\) million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.58 451.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.58 451.10 Td ($\(33\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 439.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.89 439.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 98.33 439.10 Td ($159 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 149.72 439.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 202.38 439.10 Td (. ) Tj ET Q q 0 0 0 rg BT 209.70 439.10 Td (The benefit from income taxes in 2016 was primarily due to the release of a portion of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 427.10 Td (U.S. valuation allowances and shifts in the global mix of income as a result of the Mer) Tj ET Q q 0 0 0 rg BT 395.85 427.10 Td (ger) Tj ET Q q 0 0 0 rg BT 408.07 427.10 Td (. ) Tj ET Q q 0 0 0 rg BT 415.39 427.10 Td (This shift creates additional ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 415.10 Td (deductions in jurisdictions with high statutory income tax rates, which reduces the global ef) Tj ET Q q 0 0 0 rg BT 416.40 415.10 Td (fective tax rate. ) Tj ET Q q 0 0 0 rg BT 480.63 415.10 Td (The benefit from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 403.10 Td (income taxes in 2015 was primarily due to an income tax benefit from the release of a portion of U.S. valuation allowances. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.41 403.10 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 382.10 Td (Net income attributable to ) Tj ET Q q 0 0 0 rg BT 159.81 382.10 Td (W) Tj ET Q q 0 0 0 rg BT 168.33 382.10 Td (illis T) Tj ET Q q 0 0 0 rg BT 191.03 382.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 217.24 382.10 Td (W) Tj ET Q q 0 0 0 rg BT 225.39 382.10 Td (atson) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 247.62 382.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 361.10 Td (Net income attributable to ) Tj ET Q q 0 0 0 rg BT 157.01 361.10 Td (W) Tj ET Q q 0 0 0 rg BT 166.04 361.10 Td (illis ) Tj ET Q q 0 0 0 rg BT 183.37 361.10 Td (T) Tj ET Q q 0 0 0 rg BT 188.78 361.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 214.98 361.10 Td (W) Tj ET Q q 0 0 0 rg BT 223.62 361.10 Td (atson for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 276.10 361.10 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.69 361.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.19 361.10 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.77 361.10 Td ( was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.32 361.10 Td ($420 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.71 361.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.71 361.10 Td (an increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.41 361.10 Td ( of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.74 361.10 Td ($47 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 349.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.89 349.10 Td ( compared to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 133.59 349.10 Td ($373 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 184.99 349.10 Td ( for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 216.36 349.10 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.95 349.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 262.45 349.10 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.03 349.10 Td (. ) Tj ET Q q 0 0 0 rg BT 345.85 349.10 Td (The growth was primarily driven by an improvement ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 337.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 60.83 337.10 Td ($124 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 112.22 337.10 Td ( in income from operations and an increase of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.99 337.10 Td ($63 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.38 337.10 Td ( in the benefit from income taxes, partially of) Tj ET Q q 0 0 0 rg BT 525.53 337.10 Td (fset by) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.47 337.10 Td ( a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 325.10 Td ($42 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 96.39 325.10 Td ( increase in interest expense and an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 239.94 325.10 Td ($82 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.33 325.10 Td ( increase to expense in other expense/\(income\), net.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.19 325.10 Td ( Net income ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 313.10 Td (attributable to ) Tj ET Q q 0 0 0 rg BT 108.13 313.10 Td (W) Tj ET Q q 0 0 0 rg BT 117.17 313.10 Td (illis ) Tj ET Q q 0 0 0 rg BT 134.50 313.10 Td (T) Tj ET Q q 0 0 0 rg BT 139.91 313.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 166.11 313.10 Td (W) Tj ET Q q 0 0 0 rg BT 174.75 313.10 Td (atson for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 227.23 313.10 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.82 313.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.32 313.10 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.90 313.10 Td ( was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.45 313.10 Td ($373 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.84 313.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.84 313.10 Td (an increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.54 313.10 Td ( of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.87 313.10 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.87 313.10 Td (1) Tj ET Q q 0 0 0 rg BT 496.49 313.10 Td (1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.89 313.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 301.10 Td (compared to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 102.20 301.10 Td ($362 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 153.59 301.10 Td ( for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 184.97 301.10 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 228.55 301.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 231.05 301.10 Td (December31, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.64 301.10 Td (. ) Tj ET Q q 0 0 0 rg BT 314.46 301.10 Td (This increase was primarily driven by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.30 301.10 Td (a decrease) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.65 301.10 Td ( of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.98 301.10 Td ($192 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 289.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.89 289.10 Td ( in the provision for income taxes and an increase of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 290.77 289.10 Td ($49 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.16 289.10 Td ( income from other expense/\(income\), net, partially ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 277.10 Td (of) Tj ET Q q 0 0 0 rg BT 58.15 277.10 Td (fset by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.59 277.10 Td (a decrease) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.94 277.10 Td ( of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 139.77 277.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.27 277.10 Td ($220 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 193.66 277.10 Td ( in income from operations and a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.34 277.10 Td ($7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.74 277.10 Td ( increase in interest expense.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.41 277.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 256.10 Td (As Reported Segment Revenues ) Tj ET Q q 0 0 0 rg BT 187.76 256.10 Td (Analysis) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 235.10 Td (During the second quarter of 2016, we began managing our business across four integrated reportable operating segments. ) Tj ET Q q 0 0 0 rg BT 543.75 235.10 Td (As a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 223.10 Td (result, the Company has changed the way it manages and reports segment revenues and operating income, resulting in a change ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 211.10 Td (in the Company) Tj ET Q q 0 0 0 rg BT 116.66 211.10 Td (s reportable segments from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 227.74 211.10 Td (eight) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 247.73 211.10 Td ( reportable segments, formerly known as ) Tj ET Q q 0 0 0 rg BT 413.34 211.10 Td (W) Tj ET Q q 0 0 0 rg BT 422.38 211.10 Td (illis International; ) Tj ET Q q 0 0 0 rg BT 496.07 211.10 Td (W) Tj ET Q q 0 0 0 rg BT 505.11 211.10 Td (illis North ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 199.10 Td (America; ) Tj ET Q q 0 0 0 rg BT 89.52 199.10 Td (W) Tj ET Q q 0 0 0 rg BT 98.56 199.10 Td (illis Capital, ) Tj ET Q q 0 0 0 rg BT 149.77 199.10 Td (Wholesale & Reinsurance; ) Tj ET Q q 0 0 0 rg BT 259.27 199.10 Td (W) Tj ET Q q 0 0 0 rg BT 268.31 199.10 Td (illis GB; ) Tj ET Q q 0 0 0 rg BT 304.80 199.10 Td (T) Tj ET Q q 0 0 0 rg BT 310.21 199.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 336.41 199.10 Td (W) Tj ET Q q 0 0 0 rg BT 345.05 199.10 Td (atson Benefits; ) Tj ET Q q 0 0 0 rg BT 407.08 199.10 Td (T) Tj ET Q q 0 0 0 rg BT 412.49 199.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 438.69 199.10 Td (W) Tj ET Q q 0 0 0 rg BT 447.33 199.10 Td (atson Exchange Solutions; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 187.10 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 187.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 81.61 187.10 Td (W) Tj ET Q q 0 0 0 rg BT 90.25 187.10 Td (atson Risk and Financial Services; and ) Tj ET Q q 0 0 0 rg BT 247.26 187.10 Td (T) Tj ET Q q 0 0 0 rg BT 252.67 187.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 278.87 187.10 Td (W) Tj ET Q q 0 0 0 rg BT 287.51 187.10 Td (atson ) Tj ET Q q 0 0 0 rg BT 310.94 187.10 Td (T) Tj ET Q q 0 0 0 rg BT 316.35 187.10 Td (alent and Rewards, into ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.27 187.10 Td (four) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.93 187.10 Td ( reportable segments: Human ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 175.10 Td (Capital and Benefits; Corporate Risk and Broking; Investment, Risk and Reinsurance; and Exchange Solutions.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.31 175.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 154.10 Td (All prior period segment revenues information has been recast from our historically reported filings to conform to the current ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 142.10 Td (reportable segment structure.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 166.34 142.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 121.10 Td (Segment revenues exclude amounts that were directly incurred on behalf of our clients and reimbursed by them \(reimbursed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 109.10 Td (expenses\); however) Tj ET Q q 0 0 0 rg BT 128.74 109.10 Td (, these amounts are included in consolidated revenues.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.17 109.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 88.10 Td (The Mer) Tj ET Q q 0 0 0 rg BT 84.53 88.10 Td (ger af) Tj ET Q q 0 0 0 rg BT 107.38 88.10 Td (fects the comparability of this data between 2016 and other periods presented. See Supplementary Pro Forma ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 76.10 Td (Segment Revenues ) Tj ET Q q 0 0 0 rg BT 128.32 76.10 Td (Analysis) Tj ET Q q 0 0 0 rg BT 165.91 76.10 Td ( for additional analysis.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.78 76.10 Td ( ) Tj ET Q endstream endobj 89 0 obj <> endobj 90 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (44) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (Beginning with 2017, we are realigning teams within some segments and will update our corporate expense allocation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (methodology to move additional costs which were formerly identified as corporate costs into the segments. ) Tj ET Q q 0 0 0 rg BT 483.33 730.10 Td (W) Tj ET Q q 0 0 0 rg BT 491.96 730.10 Td (e may continue ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (to refine teams, business units and the cost allocation methodology as we continue the integration phase of the Mer) Tj ET Q q 0 0 0 rg BT 509.98 718.10 Td (ger) Tj ET Q q 0 0 0 rg BT 522.20 718.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.20 718.10 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 697.10 Td (Human Capital and Benefits) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 168.63 697.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 676.10 Td (The ) Tj ET Q q 0 0 0 rg BT 67.87 676.10 Td (W) Tj ET Q q 0 0 0 rg BT 76.90 676.10 Td (illis ) Tj ET Q q 0 0 0 rg BT 94.23 676.10 Td (T) Tj ET Q q 0 0 0 rg BT 99.64 676.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 125.84 676.10 Td (W) Tj ET Q q 0 0 0 rg BT 134.48 676.10 Td (atson Human Capital & Benefits \(HCB\) segment provides an array of advice, broking, solutions and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 664.10 Td (software for employee benefit plans, the HR or) Tj ET Q q 0 0 0 rg BT 238.09 664.10 Td (ganization and the management teams of our clients.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.57 664.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 643.10 Td (HCB is the lar) Tj ET Q q 0 0 0 rg BT 107.31 643.10 Td (gest segment of the Company) Tj ET Q q 0 0 0 rg BT 225.53 643.10 Td (, generating approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.49 643.10 Td (41%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.82 643.10 Td ( of our revenues for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.90 643.10 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.48 643.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.98 643.10 Td (December31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 631.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 631.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.50 631.10 Td ( HCB is focused on addressing our clients) Tj ET Q q 0 0 0 rg BT 243.12 631.10 Td ( people and risk needs to help them take on the challenges of operating in a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 619.10 Td (global marketplace.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.85 619.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.35 619.10 Td (HCB is further strengthened with teams of international consultants that provide support through each of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 607.10 Td (our business units to the global headquarters of multinational clients and their foreign subsidiaries.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.36 607.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (The HCB segment provides services through four business units:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.97 586.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 68.00 565.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 86.00 565.10 Td (Retir) Tj ET Q q 0 0 0 rg BT 105.62 565.10 Td (ement) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 129.50 565.10 Td ( ) Tj ET Q q 0 0 0 rg BT 144.32 565.10 Td (The Retirement business provides actuarial support, plan design, and administrative services for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 553.10 Td (traditional pension and retirement savings plans. Our colleagues help our clients assess the costs and risks of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 541.10 Td (retirement plans on cash flow) Tj ET Q q 0 0 0 rg BT 203.65 541.10 Td (, earnings and the balance sheet, the ef) Tj ET Q q 0 0 0 rg BT 357.56 541.10 Td (fects of changing workforce demographics on their ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 529.10 Td (retirement plans and retiree benefit adequacy and security) Tj ET Q q 0 0 0 rg BT 316.63 529.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.13 529.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 68.00 508.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 86.00 508.10 Td (Health and Benefits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 165.43 508.10 Td ( ) Tj ET Q q 0 0 0 rg BT 180.25 508.10 Td (The Health & Benefits \(H&B\) business provides plan management consulting, broking and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 496.10 Td (administration across the full spectrum of health and group benefit programs, including medical, dental, disability) Tj ET Q q 0 0 0 rg BT 540.51 496.10 Td (, life ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 484.10 Td (and other coverage.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 164.57 484.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 68.00 463.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 86.00 463.10 Td (T) Tj ET Q q 0 0 0 rg BT 90.64 463.10 Td (alent & Rewar) Tj ET Q q 0 0 0 rg BT 149.15 463.10 Td (ds) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 158.05 463.10 Td ( Our ) Tj ET Q q 0 0 0 rg BT 190.92 463.10 Td (T) Tj ET Q q 0 0 0 rg BT 196.33 463.10 Td (alent & Rewards \(T&R\) business covers three areas of specialty: Executive ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 451.10 Td (Compensation \(EC\); Rewards, ) Tj ET Q q 0 0 0 rg BT 217.46 451.10 Td (T) Tj ET Q q 0 0 0 rg BT 222.87 451.10 Td (alent & Communication \(R) Tj ET Q q 0 0 0 rg BT 334.75 451.10 Td (TC\); and Data, Surveys and ) Tj ET Q q 0 0 0 rg BT 451.76 451.10 Td (T) Tj ET Q q 0 0 0 rg BT 457.17 451.10 Td (echnology \(DST\). ) Tj ET Q q 0 0 0 rg BT 538.36 451.10 Td (T&R ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 439.10 Td (provides advice, data, software and products to address clients) Tj ET Q q 0 0 0 rg BT 337.95 439.10 Td ( total rewards and talent issues.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.92 439.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 68.00 418.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 86.00 418.10 Td (T) Tj ET Q q 0 0 0 rg BT 90.64 418.10 Td (echnology and ) Tj ET Q q 0 0 0 rg BT 151.56 418.10 Td (Administration Solutions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 251.29 418.10 Td ( Our ) Tj ET Q q 0 0 0 rg BT 284.16 418.10 Td (T) Tj ET Q q 0 0 0 rg BT 289.57 418.10 Td (echnology and ) Tj ET Q q 0 0 0 rg BT 350.11 418.10 Td (Administration Solutions \(T) Tj ET Q q 0 0 0 rg BT 465.42 418.10 Td (AS\) business provides ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 406.10 Td (benefits outsourcing services to clients outside of the U.S.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.18 406.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 385.10 Td (The table below presents segment commissions and fees and segment interest and other income for HCB for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.99 385.10 Td (years ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.47 385.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 373.10 Td (December 31, 2016, 2015, and 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 195.52 373.10 Td (.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 317.60 174.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 224.50 317.60 53.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 277.50 317.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 281.50 317.60 53.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 334.50 317.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 338.50 317.60 53.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.50 317.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 395.50 317.60 53.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.50 317.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 452.50 317.60 53.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 317.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 317.60 53.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 287.60 174.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 224.50 287.60 53.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 277.50 287.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 281.50 287.60 53.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 334.50 287.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 338.50 287.60 53.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.50 287.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 395.50 287.60 53.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.50 287.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 452.50 287.60 53.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 287.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 287.60 53.00 -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 224.5 347.6 m 277.5 347.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 277.5 347.6 m 281.5 347.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 281.5 347.6 m 334.5 347.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 395.5 347.6 m 448.5 347.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 224.5 332.6 m 277.5 332.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 281.5 332.6 m 334.5 332.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338.5 332.6 m 391.5 332.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 395.5 347.6 m 448.5 347.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 395.5 332.6 m 448.5 332.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448.5 347.6 m 452.5 347.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452.5 347.6 m 505.5 347.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452.5 332.6 m 505.5 332.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509.5 332.6 m 562.5 332.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 224.5 287.6 m 277.5 287.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 281.5 287.6 m 334.5 287.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 224.5 287.6 m 277.5 287.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 224.5 273.6 m 277.5 273.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 224.5 271.6 m 277.5 271.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 281.5 287.6 m 334.5 287.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 281.5 273.6 m 334.5 273.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 281.5 271.6 m 334.5 271.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 395.5 287.6 m 448.5 287.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 395.5 273.6 m 448.5 273.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 395.5 271.6 m 448.5 271.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452.5 287.6 m 505.5 287.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452.5 273.6 m 505.5 273.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452.5 271.6 m 505.5 271.6 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 255.75 351.83 Td (December 31,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 344.20 344.83 Td (As reported) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 352.50 336.83 Td (change) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 426.75 351.83 Td (December 31,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 515.20 344.83 Td (As reported) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 523.50 336.83 Td (change) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 242.50 336.83 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 299.50 336.83 Td (2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 413.50 336.83 Td (2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 470.50 336.83 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 258.40 321.83 Td (\(in millions\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 429.40 321.83 Td (\(in millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 307.27 Td (Commissions and fees) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 227.00 307.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 251.15 307.27 Td (3,210) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.00 307.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.65 307.27 Td (697) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.65 307.27 Td (361) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.65 307.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.00 307.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.65 307.27 Td (697) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.00 307.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 307.27 Td (653) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 307.27 Td (7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 307.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 292.27 Td (Interest and other income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 263.65 292.27 Td (16) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 325.65 292.27 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.15 292.27 Td (1,500) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.65 292.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.65 292.27 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 292.27 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.95 292.27 Td (\(50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 292.27 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 277.27 Td (Total segment revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 227.00 277.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 251.15 277.27 Td (3,226) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.00 277.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.65 277.27 Td (698) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.65 277.27 Td (362) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.65 277.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.00 277.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.65 277.27 Td (698) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.00 277.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 277.27 Td (655) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 277.27 Td (7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 277.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 252.10 Td (HCB total segment revenues for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.07 252.10 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 239.66 252.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.16 252.10 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.74 252.10 Td ( were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.17 252.10 Td ($3.2 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.28 252.10 Td (, compared to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.49 252.10 Td ($698 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.88 252.10 Td ( for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.25 252.10 Td (year ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 240.10 Td (ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 73.88 240.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.38 240.10 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 154.96 240.10 Td (, an increase of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 215.48 240.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 217.98 240.10 Td ($2.5 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 264.10 240.10 Td ( or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 277.43 240.10 Td (362%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.76 240.10 Td (. ) Tj ET Q q 0 0 0 rg BT 305.58 240.10 Td (This growth in revenues was driven by our Mer) Tj ET Q q 0 0 0 rg BT 495.91 240.10 Td (ger and our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 228.10 Td (acquisition of Gras Savoye. See the Supplementary Pro Forma Segment Revenues ) Tj ET Q q 0 0 0 rg BT 384.38 228.10 Td (Analysis) Tj ET Q q 0 0 0 rg BT 421.97 228.10 Td ( section below for additional ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 216.10 Td (discussion of our 2016 results.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 171.94 216.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 195.10 Td (HCB total segment revenues for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.07 195.10 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 239.66 195.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.16 195.10 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.74 195.10 Td ( were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.17 195.10 Td ($698 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.56 195.10 Td (, compared to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.76 195.10 Td ($655 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.16 195.10 Td ( for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.53 195.10 Td (year ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 183.10 Td (ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 73.88 183.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.38 183.10 Td (December31, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 154.96 183.10 Td (, an increase of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 217.98 183.10 Td ($43 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 264.38 183.10 Td ( or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 277.71 183.10 Td (7%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.04 183.10 Td (. HCB recorded mid-single-digit growth driven by or) Tj ET Q q 0 0 0 rg BT 503.04 183.10 Td (ganic growth ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 171.10 Td (and our strategic acquisition of Evolution Benefits Consulting in 2015.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.30 171.10 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 150.10 Td (Corporate Risk and Broking) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 166.97 150.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 129.10 Td (Our Corporate Risk & Broking \(CRB\) segment provides a broad range of risk advice, insurance brokerage and consulting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 117.10 Td (services to clients worldwide ranging from small businesses to multinational corporations. ) Tj ET Q q 0 0 0 rg BT 416.14 117.10 Td (W) Tj ET Q q 0 0 0 rg BT 424.78 117.10 Td (e deliver integrated global ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 105.10 Td (solutions tailored to client needs and underpinned by data and analytics.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.98 105.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 84.10 Td (CRB generated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 113.87 84.10 Td (32%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 132.20 84.10 Td ( of ) Tj ET Q q 0 0 0 rg BT 145.35 84.10 Td (W) Tj ET Q q 0 0 0 rg BT 154.39 84.10 Td (illis ) Tj ET Q q 0 0 0 rg BT 171.71 84.10 Td (T) Tj ET Q q 0 0 0 rg BT 177.12 84.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 203.33 84.10 Td (W) Tj ET Q q 0 0 0 rg BT 211.96 84.10 Td (atson revenues for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.49 84.10 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.07 84.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.57 84.10 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.15 84.10 Td (, and places more than $20 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 72.10 Td (billion of premiums into the insurance markets, annually) Tj ET Q q 0 0 0 rg BT 275.97 72.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 278.47 72.10 Td ( ) Tj ET Q endstream endobj 91 0 obj <> endobj 92 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (45) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (CRB operates as an integrated global team comprising both functional and geographic leadership with five global of) Tj ET Q q 0 0 0 rg BT 515.24 742.10 Td (ferings:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.79 742.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 68.00 721.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 86.00 721.10 Td (Pr) Tj ET Q q 0 0 0 rg BT 95.63 721.10 Td (operty and Casualty ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 179.23 721.10 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 189.23 721.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.73 721.10 Td (Property and Casualty provides property and liability insurance brokerage services across a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 709.10 Td (wide range of industries including construction, real estate, healthcare, and natural resources.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.36 709.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 68.00 688.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 86.00 688.10 Td (Financial Lines ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 151.55 688.10 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 161.55 688.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 164.05 688.10 Td (Financial Lines specializes in brokerage services for financial, political and credit risks.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.75 688.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 68.00 667.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 86.00 667.10 Td (T) Tj ET Q q 0 0 0 rg BT 91.01 667.10 Td (ransport ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 127.96 667.10 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 137.96 667.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 140.46 667.10 Td (T) Tj ET Q q 0 0 0 rg BT 146.22 667.10 Td (ransport provides specialist expertise to the transportation, aerospace, marine and space industries.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 539.98 667.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 68.00 646.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 86.00 646.10 Td (Affinity ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.94 646.10 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 127.94 646.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 130.44 646.10 Td (Af) Tj ET Q q 0 0 0 rg BT 140.81 646.10 Td (finity arranges the insurance products and services for our client partners to of) Tj ET Q q 0 0 0 rg BT 453.29 646.10 Td (fer to their customers, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 634.10 Td (employees or members alongside, or in addition to, their principal business activities.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.59 634.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 68.00 613.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 86.00 613.10 Td (Facultative ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 134.04 613.10 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 144.04 613.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 146.54 613.10 Td (Facultative serves as a broker or intermediary for insurance companies looking to arrange reinsurance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 601.10 Td (solutions across classes of risk, which enable them to deliver dif) Tj ET Q q 0 0 0 rg BT 342.70 601.10 Td (ferentiated outcomes to their direct insureds.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.98 601.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 580.10 Td (The table below presents segment commissions and fees, and segment interest and other income for CRB for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.94 580.10 Td (years ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.42 580.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 568.10 Td (December 31, 2016, 2015, and 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 195.52 568.10 Td (.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 512.60 174.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 224.50 512.60 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 276.50 512.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 280.50 512.60 53.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 333.50 512.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 337.50 512.60 53.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.50 512.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 512.60 53.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 447.50 512.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 451.50 512.60 53.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 512.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.50 512.60 53.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 482.60 174.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 224.50 482.60 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 276.50 482.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 280.50 482.60 53.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 333.50 482.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 337.50 482.60 53.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.50 482.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 482.60 53.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 447.50 482.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 451.50 482.60 53.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 482.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.50 482.60 53.00 -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 224.5 542.6 m 276.5 542.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 276.5 542.6 m 280.5 542.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 280.5 542.6 m 333.5 542.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 542.6 m 447.5 542.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 224.5 527.6 m 276.5 527.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 280.5 527.6 m 333.5 527.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 527.6 m 390.5 527.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 542.6 m 447.5 542.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 527.6 m 447.5 527.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447.5 542.6 m 451.5 542.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 451.5 542.6 m 504.5 542.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 451.5 527.6 m 504.5 527.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508.5 527.6 m 561.5 527.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 224.5 482.6 m 276.5 482.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 280.5 482.6 m 333.5 482.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 224.5 482.6 m 276.5 482.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 224.5 468.6 m 276.5 468.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 224.5 466.6 m 276.5 466.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 280.5 482.6 m 333.5 482.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 280.5 468.6 m 333.5 468.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 280.5 466.6 m 333.5 466.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 482.6 m 447.5 482.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 468.6 m 447.5 468.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 466.6 m 447.5 466.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 451.5 482.6 m 504.5 482.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 451.5 468.6 m 504.5 468.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 451.5 466.6 m 504.5 466.6 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 255.25 546.83 Td (December 31,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 343.20 539.83 Td (As reported) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 351.50 531.83 Td (change) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 425.75 546.83 Td (December 31,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 514.20 539.83 Td (As reported) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 522.50 531.83 Td (change) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 242.00 531.83 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 298.50 531.83 Td (2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 412.50 531.83 Td (2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 469.50 531.83 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 259.90 516.83 Td (\(in millions\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 430.40 516.83 Td (\(in millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 502.27 Td (Commissions and fees) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 227.00 502.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 250.15 502.27 Td (2,502) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.00 502.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.15 502.27 Td (2,301) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.65 502.27 Td (9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.65 502.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.00 502.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.15 502.27 Td (2,301) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.00 502.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.15 502.27 Td (2,365) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.95 502.27 Td (\(3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.30 502.27 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 487.27 Td (Interest and other income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 262.65 487.27 Td (29) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.65 487.27 Td (17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.65 487.27 Td (71) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.65 487.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.65 487.27 Td (17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.65 487.27 Td (16) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.30 487.27 Td (6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 487.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 472.27 Td (Total segment revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 227.00 472.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 250.15 472.27 Td (2,531) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.00 472.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.15 472.27 Td (2,318) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.65 472.27 Td (9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.65 472.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.00 472.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.15 472.27 Td (2,318) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.00 472.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.15 472.27 Td (2,381) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.95 472.27 Td (\(3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.30 472.27 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 447.10 Td (CRB total segment revenues for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 195.52 447.10 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 239.11 447.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 241.61 447.10 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.19 447.10 Td ( were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.62 447.10 Td ($2.5 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.73 447.10 Td (, compared to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.93 447.10 Td ($2.3 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.05 447.10 Td ( for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.42 447.10 Td (year ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 435.10 Td (ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 73.88 435.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.38 435.10 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 154.96 435.10 Td (, an increase of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 217.98 435.10 Td ($213 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.38 435.10 Td ( or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.71 435.10 Td (9%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.04 435.10 Td (. ) Tj ET Q q 0 0 0 rg BT 300.85 435.10 Td (The growth for the year ended December31, 2016 was primarily ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 423.10 Td (due to the acquisition of Gras Savoye, which occurred on December 29, 2015. Great Britain led or) Tj ET Q q 0 0 0 rg BT 443.31 423.10 Td (ganic growth with solid ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 411.10 Td (revenue increases across all lines of business. ) Tj ET Q q 0 0 0 rg BT 236.70 411.10 Td (W) Tj ET Q q 0 0 0 rg BT 245.34 411.10 Td (estern Europe contributed to or) Tj ET Q q 0 0 0 rg BT 369.57 411.10 Td (ganic growth with strong growth in Iberia, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 399.10 Td (partially of) Tj ET Q q 0 0 0 rg BT 93.97 399.10 Td (fset by softness in Italy) Tj ET Q q 0 0 0 rg BT 186.08 399.10 Td (. North ) Tj ET Q q 0 0 0 rg BT 218.86 399.10 Td (America was flat with strong retention of) Tj ET Q q 0 0 0 rg BT 383.63 399.10 Td (fset by lower new business. International ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 387.10 Td (or) Tj ET Q q 0 0 0 rg BT 58.15 387.10 Td (ganic revenue declined as a result of lower revenues in ) Tj ET Q q 0 0 0 rg BT 279.17 387.10 Td (Asia and ) Tj ET Q q 0 0 0 rg BT 316.39 387.10 Td (Australasia, partially of) Tj ET Q q 0 0 0 rg BT 410.34 387.10 Td (fset by better performance in Latin ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 375.10 Td (America and Central and Eastern Europe, Middle East and ) Tj ET Q q 0 0 0 rg BT 286.59 375.10 Td (Africa \(CEEMEA) Tj ET Q q 0 0 0 rg BT 361.28 375.10 Td (\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.44 375.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 354.10 Td (CRB total segment revenues for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 195.52 354.10 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 239.11 354.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 241.61 354.10 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.19 354.10 Td ( were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.62 354.10 Td ($2.3 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.73 354.10 Td (, compared to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.93 354.10 Td ($2.4 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.05 354.10 Td ( for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.42 354.10 Td (year ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 342.10 Td (ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 73.88 342.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.38 342.10 Td (December31, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 154.96 342.10 Td (, a decrease of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.64 342.10 Td ($63 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.04 342.10 Td ( or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.37 342.10 Td (3%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.70 342.10 Td (. ) Tj ET Q q 0 0 0 rg BT 292.51 342.10 Td (This decrease in revenues was driven by negative currency ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 330.10 Td (movements, partially of) Tj ET Q q 0 0 0 rg BT 145.07 330.10 Td (fset by growth in the construction practice in North ) Tj ET Q q 0 0 0 rg BT 351.97 330.10 Td (America, as well as growth in financial lines, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 318.10 Td (property & casualty and aerospace in Great Britain.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.03 318.10 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 297.10 Td (Investment, Risk and Reinsurance) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 191.69 297.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 276.10 Td (The ) Tj ET Q q 0 0 0 rg BT 67.87 276.10 Td (W) Tj ET Q q 0 0 0 rg BT 76.90 276.10 Td (illis ) Tj ET Q q 0 0 0 rg BT 94.23 276.10 Td (T) Tj ET Q q 0 0 0 rg BT 99.64 276.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 125.84 276.10 Td (W) Tj ET Q q 0 0 0 rg BT 134.48 276.10 Td (atson Investment, Risk and Reinsurance \(IRR\) segment applies a sophisticated approach to risk which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 264.10 Td (helps clients free up capital and manage investment complexity) Tj ET Q q 0 0 0 rg BT 303.15 264.10 Td (. ) Tj ET Q q 0 0 0 rg BT 307.97 264.10 Td (The segment works closely with investors, reinsurers and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 252.10 Td (insurers to manage the equation between risk and return. IRR provides investment consulting services and insurance specific ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 240.10 Td (services and solutions through reserves opinions, software, ratemaking, usage-based insurance, risk underwriting, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 228.10 Td (reinsurance broking.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 132.19 228.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 207.10 Td (This segment is our third lar) Tj ET Q q 0 0 0 rg BT 162.86 207.10 Td (gest segment and generated approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.85 207.10 Td (19%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.18 207.10 Td ( of revenues for the Company for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.69 207.10 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.27 207.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 195.10 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.58 195.10 Td (. ) Tj ET Q q 0 0 0 rg BT 133.40 195.10 Td (W) Tj ET Q q 0 0 0 rg BT 142.44 195.10 Td (ith approximately 80% of the revenues for this segment split between North ) Tj ET Q q 0 0 0 rg BT 447.92 195.10 Td (America and the U.K., this ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 183.10 Td (segment includes the following businesses and of) Tj ET Q q 0 0 0 rg BT 247.56 183.10 Td (ferings:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 278.11 183.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 68.00 162.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 86.00 162.10 Td (W) Tj ET Q q 0 0 0 rg BT 93.78 162.10 Td (illis Re ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 124.33 162.10 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 134.33 162.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 136.83 162.10 Td (W) Tj ET Q q 0 0 0 rg BT 145.87 162.10 Td (illis Re provides reinsurance industry clients with an understanding of how risk af) Tj ET Q q 0 0 0 rg BT 473.40 162.10 Td (fects capital and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 150.10 Td (financial performance and advises on the best ways to manage related outcomes.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.66 150.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 129.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 86.00 129.10 Td (Risk Consulting and Softwar) Tj ET Q q 0 0 0 rg BT 200.36 129.10 Td (e ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 207.30 129.10 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 217.30 129.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 219.80 129.10 Td (Risk Consulting and Software is a global business that provides advice and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 117.10 Td (technology solutions to the insurance industry) Tj ET Q q 0 0 0 rg BT 269.49 117.10 Td (, as well as to corporate clients with respect to their insurance programs. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 105.10 Td (Services include software and technology) Tj ET Q q 0 0 0 rg BT 251.96 105.10 Td (, risk and capital management, products and pricing, financial and regulatory ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 93.10 Td (reporting, financial and capital modeling, M&A, outsourcing and business management.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 439.53 93.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.03 93.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 72.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 86.00 72.10 Td (Investment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.82 72.10 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 141.82 72.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 144.32 72.10 Td (Investment provides advice to improve investment outcomes for asset owners using a broad and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 60.10 Td (sophisticated framework for managing risk. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 263.17 60.10 Td ( ) Tj ET Q endstream endobj 93 0 obj <> endobj 94 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (46) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 68.00 742.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 86.00 742.10 Td (Wholesale Insurance Br) Tj ET Q q 0 0 0 rg BT 182.27 742.10 Td (oking ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 206.99 742.10 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 216.99 742.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 219.49 742.10 Td (Wholesale provides wholesale and specialist broking services to retail brokers.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 534.39 742.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 68.00 721.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 86.00 721.10 Td (Portfolio and Underwriting Services ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 234.88 721.10 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 244.88 721.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 247.38 721.10 Td (Portfolio and Underwriting Services acts on behalf of our insurance carrier ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 709.10 Td (partners and self-insured entities in product marketing and distribution, risk underwriting and selection, claims ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 697.10 Td (management and other general administrative responsibilities.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 334.26 697.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 336.76 697.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 68.00 676.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 86.00 676.10 Td (Capital Markets & ) Tj ET Q q 0 0 0 rg BT 163.87 676.10 Td (Advisory ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 201.92 676.10 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 211.92 676.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.42 676.10 Td (Capital Markets & ) Tj ET Q q 0 0 0 rg BT 290.79 676.10 Td (Advisory provides investment banking services to companies ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 664.10 Td (involved in the insurance and reinsurance industries for a broad array of mer) Tj ET Q q 0 0 0 rg BT 391.82 664.10 Td (ger and acquisition transactions as well as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 652.10 Td (capital markets products.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 186.24 652.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 631.10 Td (The table below presents segment commissions and fees, and segment interest and other income for IRR for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.60 631.10 Td (years ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.08 631.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 619.10 Td (December 31, 2016, 2015, and 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 195.52 619.10 Td (.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 563.60 174.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 224.50 563.60 53.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 277.50 563.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 281.50 563.60 53.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 334.50 563.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 338.50 563.60 53.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.50 563.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 395.50 563.60 53.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.50 563.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 452.50 563.60 53.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 563.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 563.60 53.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 533.60 174.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 224.50 533.60 53.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 277.50 533.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 281.50 533.60 53.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 334.50 533.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 338.50 533.60 53.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.50 533.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 395.50 533.60 53.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.50 533.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 452.50 533.60 53.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 533.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 533.60 53.00 -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 224.5 593.6 m 277.5 593.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 277.5 593.6 m 281.5 593.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 281.5 593.6 m 334.5 593.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 395.5 593.6 m 448.5 593.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 224.5 578.6 m 277.5 578.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 281.5 578.6 m 334.5 578.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338.5 578.6 m 391.5 578.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 395.5 593.6 m 448.5 593.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 395.5 578.6 m 448.5 578.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448.5 593.6 m 452.5 593.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452.5 593.6 m 505.5 593.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452.5 578.6 m 505.5 578.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509.5 578.6 m 562.5 578.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 224.5 533.6 m 277.5 533.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 281.5 533.6 m 334.5 533.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 224.5 533.6 m 277.5 533.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 224.5 519.6 m 277.5 519.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 224.5 517.6 m 277.5 517.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 281.5 533.6 m 334.5 533.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 281.5 519.6 m 334.5 519.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 281.5 517.6 m 334.5 517.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 395.5 533.6 m 448.5 533.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 395.5 519.6 m 448.5 519.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 395.5 517.6 m 448.5 517.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452.5 533.6 m 505.5 533.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452.5 519.6 m 505.5 519.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452.5 517.6 m 505.5 517.6 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 255.75 597.83 Td (December 31,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 344.20 590.83 Td (As reported) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 352.50 582.83 Td (change) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 426.75 597.83 Td (December 31,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 515.20 590.83 Td (As reported) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 523.50 582.83 Td (change) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 242.50 582.83 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 299.50 582.83 Td (2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 413.50 582.83 Td (2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 470.50 582.83 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 260.40 567.83 Td (\(in millions\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 431.40 567.83 Td (\(in millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 553.27 Td (Commissions and fees) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 227.00 553.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 251.15 553.27 Td (1,382) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.00 553.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.65 553.27 Td (812) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.65 553.27 Td (70) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.65 553.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.00 553.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.65 553.27 Td (812) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.00 553.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 553.27 Td (749) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 553.27 Td (8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 553.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 538.27 Td (Interest and other income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 263.65 538.27 Td (59) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 325.65 538.27 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.15 538.27 Td (5,800) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.65 538.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.65 538.27 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.65 538.27 Td (17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.95 538.27 Td (\(94) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 538.27 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 523.27 Td (Total segment revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 227.00 523.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 251.15 523.27 Td (1,441) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.00 523.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.65 523.27 Td (813) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.65 523.27 Td (77) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.65 523.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.00 523.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.65 523.27 Td (813) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.00 523.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 523.27 Td (766) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 523.27 Td (6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 523.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 498.10 Td (IRR total segment revenues for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 192.18 498.10 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 235.77 498.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.27 498.10 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.85 498.10 Td ( were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.28 498.10 Td ($1.4 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.39 498.10 Td (, compared to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.59 498.10 Td ($813 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.99 498.10 Td ( for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.36 498.10 Td (year ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 486.10 Td (ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 73.88 486.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.38 486.10 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 154.96 486.10 Td (, an increase of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 217.98 486.10 Td ($628 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.38 486.10 Td ( or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.71 486.10 Td (77%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.04 486.10 Td (. ) Tj ET Q q 0 0 0 rg BT 308.35 486.10 Td (This growth in revenues was driven by the Mer) Tj ET Q q 0 0 0 rg BT 497.57 486.10 Td (ger and a full ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 474.10 Td (year of revenues from Miller) Tj ET Q q 0 0 0 rg BT 165.11 474.10 Td (, following our acquisition in May 2015. See the Supplementary Pro Forma Segment Revenues ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 462.10 Td (Analysis) Tj ET Q q 0 0 0 rg BT 87.59 462.10 Td ( section below for additional discussion of our 2016 results.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.44 462.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 441.10 Td (IRR total segment revenues for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 192.18 441.10 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 235.77 441.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.27 441.10 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.85 441.10 Td ( were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.28 441.10 Td ($813 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.67 441.10 Td (, compared to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.87 441.10 Td ($766 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.26 441.10 Td ( for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.64 441.10 Td (year ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 429.10 Td (ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 73.88 429.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.38 429.10 Td (December31, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 154.96 429.10 Td (, an increase of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 217.98 429.10 Td ($47 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 264.38 429.10 Td ( or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 277.71 429.10 Td (6%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.04 429.10 Td (. ) Tj ET Q q 0 0 0 rg BT 295.85 429.10 Td (The growth was driven by our acquisition of Miller Insurance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 417.10 Td (Services, with additional or) Tj ET Q q 0 0 0 rg BT 159.79 417.10 Td (ganic growth in Reinsurance and Capital Markets & ) Tj ET Q q 0 0 0 rg BT 370.30 417.10 Td (Advisory) Tj ET Q q 0 0 0 rg BT 406.87 417.10 Td (, partially of) Tj ET Q q 0 0 0 rg BT 455.84 417.10 Td (fset by the negative ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 405.10 Td (impact from foreign currency translation and a $12 million settlement received in 2014.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.72 405.10 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 384.10 Td (Exchange Solutions) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 133.08 384.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 363.10 Td (The ) Tj ET Q q 0 0 0 rg BT 67.87 363.10 Td (W) Tj ET Q q 0 0 0 rg BT 76.90 363.10 Td (illis ) Tj ET Q q 0 0 0 rg BT 94.23 363.10 Td (T) Tj ET Q q 0 0 0 rg BT 99.64 363.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 125.84 363.10 Td (W) Tj ET Q q 0 0 0 rg BT 134.48 363.10 Td (atson Exchange Solutions \(ES\) segment provides primary medical and ancillary benefit exchange and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 351.10 Td (outsourcing services to active employees and retirees across both the group and individual markets. ) Tj ET Q q 0 0 0 rg BT 452.11 351.10 Td (A) Tj ET Q q 0 0 0 rg BT 458.78 351.10 Td ( significant portion of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 339.10 Td (revenues in this segment is recurring in nature, driven by either the commissions from the policies we sell, or from long-term ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 327.10 Td (service contracts with our clients that typically range from three to five years. Revenues across this segment may be seasonal, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 315.10 Td (driven by the magnitude and timing of client transition activities, and we typically increase our membership levels significantly ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 303.10 Td (ef) Tj ET Q q 0 0 0 rg BT 57.59 303.10 Td (fective January 1, after calendar year) Tj ET Q q 0 0 0 rg BT 205.07 303.10 Td (-end benefits elections.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.54 303.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 282.10 Td (ES generated approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 165.79 282.10 Td (8%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 179.12 282.10 Td ( of our revenues for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.20 282.10 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.78 282.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.28 282.10 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.86 282.10 Td (. ES provides services across four ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 270.10 Td (integrated or related of) Tj ET Q q 0 0 0 rg BT 141.16 270.10 Td (ferings to customers primarily in the U.S. through four business units:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.13 270.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 68.00 249.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 86.00 249.10 Td (Retir) Tj ET Q q 0 0 0 rg BT 105.62 249.10 Td (ee & ) Tj ET Q q 0 0 0 rg BT 127.10 249.10 Td (Access Exchanges ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 202.62 249.10 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 212.62 249.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 215.12 249.10 Td (This business provides solutions through a proprietary technology platform, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 237.10 Td (OneExchange Retiree, which enables our employer clients to transition their retirees to individual, defined ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 225.10 Td (contribution health plans that provide individuals with a tax-free allowance or contribution to spend on healthcare ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 213.10 Td (services at an annual cost that the employer controls, as opposed to group-based, defined benefit health plans that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 201.10 Td (provide groups of individuals with healthcare benefits at uncertain annual costs.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 405.63 201.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 68.00 180.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 86.00 180.10 Td (Active Exchanges ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 159.30 180.10 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 169.30 180.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 171.80 180.10 Td (This business is focused on delivering group benefit exchanges, serving the active employees of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 168.10 Td (employers across the United States through our proprietary BenefitConnect or Bright Choices exchange platforms.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.77 168.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 68.00 147.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 86.00 147.10 Td (T) Tj ET Q q 0 0 0 rg BT 90.64 147.10 Td (echnology and ) Tj ET Q q 0 0 0 rg BT 151.56 147.10 Td (Administration Solutions ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 253.79 147.10 Td ( ) Tj ET Q q 0 0 0 rg BT 266.11 147.10 Td (Through our proprietary BenefitConnect technology) Tj ET Q q 0 0 0 rg BT 474.84 147.10 Td (, this business ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 135.10 Td (provides a broad suite of health and welfare outsourcing services as well as decision support and modeling tools for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 123.10 Td (pension users within the U.S.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 203.22 123.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 68.00 102.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 86.00 102.10 Td (Consumer) Tj ET Q q 0 0 0 rg BT 126.91 102.10 Td (-Dir) Tj ET Q q 0 0 0 rg BT 143.76 102.10 Td (ected ) Tj ET Q q 0 0 0 rg BT 167.18 102.10 Td (Accounts ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 206.33 102.10 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 216.33 102.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 218.83 102.10 Td (This business uses its SaaS-based technology and related services to deliver ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 90.10 Td (consumer) Tj ET Q q 0 0 0 rg BT 124.68 90.10 Td (-driven healthcare and reimbursement accounts, including health savings accounts, health reimbursement ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 78.10 Td (arrangements and other consumer) Tj ET Q q 0 0 0 rg BT 221.02 78.10 Td (-directed accounts.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 296.54 78.10 Td ( ) Tj ET Q endstream endobj 95 0 obj <> endobj 96 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (47) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (The table below presents segment commissions and fees, and segment interest and other income for ES for the year ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (December 31, 2016.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 674.60 459.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 674.60 53.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 644.60 459.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 644.60 53.00 -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 509.5 704.6 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 509.5 689.6 m 562.5 689.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509.5 644.6 m 562.5 644.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509.5 644.6 m 562.5 644.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509.5 630.6 m 562.5 630.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509.5 628.6 m 562.5 628.6 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 512.25 708.83 Td (December 31,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 527.50 693.83 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 514.90 678.83 Td (\(in millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 664.27 Td (Commissions and fees) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.00 664.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 664.27 Td (652) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 649.27 Td (Interest and other income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 649.27 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 634.27 Td (Total segment revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.00 634.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 634.27 Td (654) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 609.10 Td (ES total segment revenues for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 187.18 609.10 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 230.77 609.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 233.27 609.10 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.85 609.10 Td ( were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.28 609.10 Td ($654 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.67 609.10 Td (. ES was not part of our business ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 597.10 Td (operations prior to the Mer) Tj ET Q q 0 0 0 rg BT 157.57 597.10 Td (ger) Tj ET Q q 0 0 0 rg BT 169.79 597.10 Td (. See the Supplementary Pro Forma Segment Revenues ) Tj ET Q q 0 0 0 rg BT 398.63 597.10 Td (Analysis) Tj ET Q q 0 0 0 rg BT 436.22 597.10 Td ( section below for additional ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 585.10 Td (discussion of our 2016 results.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 171.94 585.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 564.10 Td (Supplementary Pr) Tj ET Q q 0 0 0 rg BT 128.43 564.10 Td (o Forma Financial Information) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 262.03 564.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 543.10 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 543.10 Td (o assist the reader in understanding our comparative analysis, we have included discussion and analysis of pro forma financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 531.10 Td (information for ) Tj ET Q q 0 0 0 rg BT 113.69 531.10 Td (W) Tj ET Q q 0 0 0 rg BT 122.73 531.10 Td (illis ) Tj ET Q q 0 0 0 rg BT 140.05 531.10 Td (T) Tj ET Q q 0 0 0 rg BT 145.46 531.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 171.67 531.10 Td (W) Tj ET Q q 0 0 0 rg BT 180.30 531.10 Td (atson as if the ) Tj ET Q q 0 0 0 rg BT 237.89 531.10 Td (T) Tj ET Q q 0 0 0 rg BT 243.30 531.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 269.50 531.10 Td (W) Tj ET Q q 0 0 0 rg BT 278.13 531.10 Td (atson Mer) Tj ET Q q 0 0 0 rg BT 318.22 531.10 Td (ger had occurred on January 1, 2015. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.50 531.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 510.10 Td (The pro forma financial information for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 226.32 510.10 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.91 510.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.41 510.10 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.99 510.10 Td ( combines: \(i\) the historical consolidated statement ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 498.10 Td (of operations of ) Tj ET Q q 0 0 0 rg BT 115.63 498.10 Td (W) Tj ET Q q 0 0 0 rg BT 124.67 498.10 Td (illis ) Tj ET Q q 0 0 0 rg BT 142.00 498.10 Td (T) Tj ET Q q 0 0 0 rg BT 147.41 498.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 173.61 498.10 Td (W) Tj ET Q q 0 0 0 rg BT 182.25 498.10 Td (atson for the year ended December 31, 2015 and \(ii\) the historical consolidated statement of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 486.10 Td (operations of ) Tj ET Q q 0 0 0 rg BT 104.80 486.10 Td (T) Tj ET Q q 0 0 0 rg BT 110.21 486.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 136.42 486.10 Td (W) Tj ET Q q 0 0 0 rg BT 145.05 486.10 Td (atson for the fiscal year ended June 30, 2015 less the historical consolidated statement of operations of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 474.10 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 474.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 81.61 474.10 Td (W) Tj ET Q q 0 0 0 rg BT 90.25 474.10 Td (atson for the six months ended December 31, 2014, plus the historical consolidated statement of operations of ) Tj ET Q q 0 0 0 rg BT 531.91 474.10 Td (T) Tj ET Q q 0 0 0 rg BT 537.32 474.10 Td (owers ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 462.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 462.10 Td (atson for the six months ended December 31, 2015.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 264.70 462.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 441.10 Td (The pro forma financial information is only for ) Tj ET Q q 0 0 0 rg BT 240.87 441.10 Td (W) Tj ET Q q 0 0 0 rg BT 249.91 441.10 Td (illis and ) Tj ET Q q 0 0 0 rg BT 284.17 441.10 Td (T) Tj ET Q q 0 0 0 rg BT 289.58 441.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 315.79 441.10 Td (W) Tj ET Q q 0 0 0 rg BT 324.42 441.10 Td (atson and does not include Gras Savoye or other mer) Tj ET Q q 0 0 0 rg BT 535.58 441.10 Td (ger or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 429.10 Td (acquisition activity on a pro forma basis.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 213.02 429.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 408.10 Td (Pro forma financial information is for illustrative purposes only) Tj ET Q q 0 0 0 rg BT 303.74 408.10 Td (, and is based on adjustments that are estimates based upon ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 396.10 Td (available information and certain assumptions that ) Tj ET Q q 0 0 0 rg BT 254.20 396.10 Td (W) Tj ET Q q 0 0 0 rg BT 263.24 396.10 Td (illis ) Tj ET Q q 0 0 0 rg BT 280.57 396.10 Td (T) Tj ET Q q 0 0 0 rg BT 285.98 396.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 312.18 396.10 Td (W) Tj ET Q q 0 0 0 rg BT 320.82 396.10 Td (atson management believes are reasonable under the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 384.10 Td (circumstances, as described in Pro Forma ) Tj ET Q q 0 0 0 rg BT 221.34 384.10 Td (Adjustments) Tj ET Q q 0 0 0 rg BT 274.49 384.10 Td ( below) Tj ET Q q 0 0 0 rg BT 300.78 384.10 Td (. ) Tj ET Q q 0 0 0 rg BT 305.60 384.10 Td (The pro forma financial information has not been adjusted to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 372.10 Td (give ef) Tj ET Q q 0 0 0 rg BT 77.30 372.10 Td (fect to certain expected financial benefits of the Mer) Tj ET Q q 0 0 0 rg BT 286.46 372.10 Td (ger) Tj ET Q q 0 0 0 rg BT 298.83 372.10 Td (, such as revenue syner) Tj ET Q q 0 0 0 rg BT 391.12 372.10 Td (gies, tax savings and cost syner) Tj ET Q q 0 0 0 rg BT 516.47 372.10 Td (gies, or the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 360.10 Td (anticipated costs to achieve these benefits, including the cost of integration activities. ) Tj ET Q q 0 0 0 rg BT 393.05 360.10 Td (The pro forma financial information does ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 348.10 Td (not purport to represent what the actual consolidated results of operations of ) Tj ET Q q 0 0 0 rg BT 356.95 348.10 Td (W) Tj ET Q q 0 0 0 rg BT 365.99 348.10 Td (illis ) Tj ET Q q 0 0 0 rg BT 383.32 348.10 Td (T) Tj ET Q q 0 0 0 rg BT 388.73 348.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 414.93 348.10 Td (W) Tj ET Q q 0 0 0 rg BT 423.56 348.10 Td (atson would have been had the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 336.10 Td (Mer) Tj ET Q q 0 0 0 rg BT 66.48 336.10 Td (ger occurred on the date indicated, nor is it necessarily indicative of future consolidated results of operations. ) Tj ET Q q 0 0 0 rg BT 505.32 336.10 Td (The actual ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 324.10 Td (results of operations will dif) Tj ET Q q 0 0 0 rg BT 162.58 324.10 Td (fer) Tj ET Q q 0 0 0 rg BT 173.28 324.10 Td (, potentially significantly) Tj ET Q q 0 0 0 rg BT 272.89 324.10 Td (, from the pro forma amounts reflected herein due to a variety of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 312.10 Td (factors, including access to additional information, changes in value not currently identified and changes in operating results ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 300.10 Td (following the date of the unaudited pro forma financial information.) 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525.50 371.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 529.50 371.75 33.00 -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 231.5 703.75 m 280.5 703.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 280.5 703.75 m 284.5 703.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 284.5 703.75 m 314.5 703.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314.5 703.75 m 318.5 703.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 703.75 m 358.5 703.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 703.75 m 362.5 703.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362.5 703.75 m 403.5 703.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 403.5 703.75 m 412.5 703.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412.5 703.75 m 452.5 703.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452.5 703.75 m 476.5 703.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 476.5 703.75 m 480.5 703.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 703.75 m 525.5 703.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 525.5 703.75 m 529.5 703.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 529.5 703.75 m 562.5 703.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 231.5 703.75 m 280.5 703.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 231.5 690.75 m 280.5 690.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 280.5 703.75 m 284.5 703.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 280.5 690.75 m 284.5 690.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 284.5 703.75 m 314.5 703.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 284.5 690.75 m 314.5 690.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 703.75 m 358.5 703.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 690.75 m 358.5 690.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 690.75 m 362.5 690.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362.5 703.75 m 403.5 703.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362.5 690.75 m 403.5 690.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 403.5 703.75 m 412.5 703.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 403.5 690.75 m 412.5 690.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412.5 703.75 m 452.5 703.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412.5 690.75 m 452.5 690.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452.5 690.75 m 476.5 690.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 476.5 703.75 m 480.5 703.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 476.5 690.75 m 480.5 690.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 690.75 m 525.5 690.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 525.5 703.75 m 529.5 703.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 525.5 690.75 m 529.5 690.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 529.5 703.75 m 562.5 703.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 529.5 690.75 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 231.5 661.75 m 280.5 661.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 280.5 661.75 m 284.5 661.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 284.5 661.75 m 314.5 661.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 661.75 m 358.5 661.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362.5 661.75 m 403.5 661.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412.5 661.75 m 452.5 661.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452.5 661.75 m 476.5 661.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 661.75 m 525.5 661.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 525.5 661.75 m 529.5 661.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 529.5 661.75 m 562.5 661.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 231.5 661.75 m 280.5 661.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 231.5 646.75 m 280.5 646.75 l s 0 0 0 RG /GS0 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525.5 646.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 231.5 541.75 m 280.5 541.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 541.75 m 358.5 541.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362.5 541.75 m 403.5 541.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412.5 541.75 m 452.5 541.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 541.75 m 525.5 541.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 231.5 541.75 m 280.5 541.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 231.5 526.75 m 280.5 526.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 541.75 m 358.5 541.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 526.75 m 358.5 526.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362.5 541.75 m 403.5 541.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362.5 526.75 m 403.5 526.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412.5 541.75 m 452.5 541.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412.5 526.75 m 452.5 526.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 541.75 m 525.5 541.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 526.75 m 525.5 526.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 231.5 526.75 m 280.5 526.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 526.75 m 358.5 526.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362.5 526.75 m 403.5 526.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412.5 526.75 m 452.5 526.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 526.75 m 525.5 526.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 231.5 451.75 m 280.5 451.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 451.75 m 358.5 451.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362.5 451.75 m 403.5 451.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412.5 451.75 m 452.5 451.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 451.75 m 525.5 451.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 231.5 411.75 m 280.5 411.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 411.75 m 358.5 411.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362.5 411.75 m 403.5 411.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 403.5 411.75 m 412.5 411.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412.5 411.75 m 452.5 411.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 411.75 m 525.5 411.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 231.5 387.75 m 280.5 387.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 231.5 385.75 m 280.5 385.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 387.75 m 358.5 387.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 385.75 m 358.5 385.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362.5 387.75 m 403.5 387.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362.5 385.75 m 403.5 385.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412.5 387.75 m 452.5 387.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412.5 385.75 m 452.5 385.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 387.75 m 525.5 387.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 385.75 m 525.5 385.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 231.5 357.75 m 280.5 357.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 231.5 355.75 m 280.5 355.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 357.75 m 358.5 357.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 355.75 m 358.5 355.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362.5 357.75 m 403.5 357.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362.5 355.75 m 403.5 355.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 357.75 m 525.5 357.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 355.75 m 525.5 355.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 231.5 342.75 m 280.5 342.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 231.5 340.75 m 280.5 340.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 342.75 m 358.5 342.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 340.75 m 358.5 340.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362.5 342.75 m 403.5 342.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362.5 340.75 m 403.5 340.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 342.75 m 525.5 342.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 340.75 m 525.5 340.75 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 708.00 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 351.45 707.98 Td (Years ended December 31,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 695.00 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 264.50 694.98 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 432.00 694.98 Td (2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 235.50 665.98 Td (Willis Towers Watson) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 325.75 673.98 Td (Legacy) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 328.05 665.98 Td (Willis) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 370.25 681.98 Td (Legacy) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 370.20 673.98 Td (Towers) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 369.60 665.98 Td (Watson) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 425.30 673.98 Td (Pro Forma) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 422.20 665.98 Td (Adjustments) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 491.40 673.98 Td (Pro Forma Willis) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 494.85 665.98 Td (Towers Watson) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 651.42 Td (Total revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 234.00 651.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.15 651.42 Td (7,887) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.30 651.42 Td (100%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.00 651.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.10 651.42 Td (3,829) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.00 651.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.10 651.42 Td (3,664) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.00 651.42 Td (b) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.00 651.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.30 651.47 Td (\(1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.65 651.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.00 651.42 Td (a) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.00 651.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.15 651.42 Td (7,492) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.80 651.42 Td (100%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 636.42 Td (Costs of providing services) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 621.42 Td (Salaries and benefits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.15 621.42 Td (4,646) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.80 621.42 Td (59%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.10 621.42 Td (2,303) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.10 621.42 Td (2,161) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.30 621.47 Td (\(33) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.65 621.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.00 621.42 Td (c) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.15 621.42 Td (4,431) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.30 621.42 Td (59%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 606.42 Td (Other operating expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.15 606.42 Td (1,551) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.80 606.42 Td (20%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 606.42 Td (718) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.65 606.42 Td (725) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.00 606.42 Td (b) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 606.42 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.00 606.42 Td (a, d) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.15 606.42 Td (1,446) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.30 606.42 Td (19%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 591.42 Td (Depreciation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.65 591.42 Td (178) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.30 591.42 Td (2%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.65 591.42 Td (95) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.65 591.42 Td (110) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.30 591.47 Td (\(46) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.65 591.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.00 591.42 Td (e) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.65 591.42 Td (159) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.80 591.42 Td (2%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 576.42 Td (Amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.65 576.42 Td (591) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.30 576.42 Td (7%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.65 576.42 Td (76) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.65 576.42 Td (71) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.65 576.42 Td (388) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.00 576.42 Td (f) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.65 576.42 Td (535) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.80 576.42 Td (7%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 561.42 Td (Restructuring costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.65 561.42 Td (193) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.30 561.42 Td (2%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 561.42 Td (126) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.65 561.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 561.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.65 561.42 Td (126) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.80 561.42 Td (2%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 546.42 Td (Transaction and integration expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.65 546.42 Td (177) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.30 546.42 Td (2%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.65 546.42 Td (84) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.65 546.42 Td (97) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.30 546.47 Td (\(151) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.65 546.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.00 546.42 Td (k) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.65 546.42 Td (30) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.30 546.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 531.42 Td (Total costs of providing services) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.15 531.42 Td (7,336) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.80 531.42 Td (93%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.10 531.42 Td (3,402) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.10 531.42 Td (3,164) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.65 531.42 Td (161) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.15 531.42 Td (6,727) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.30 531.42 Td (90%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 516.42 Td (Income from operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.65 516.42 Td (551) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.30 516.42 Td (7%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 516.42 Td (427) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.65 516.42 Td (500) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.30 516.47 Td (\(162) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.65 516.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.65 516.42 Td (765) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.30 516.42 Td (10%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 501.42 Td (Interest expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.65 501.42 Td (184) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.30 501.42 Td (2%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 501.42 Td (142) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.65 501.42 Td (9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 501.42 Td (13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.00 501.42 Td (g) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.65 501.42 Td (164) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.80 501.42 Td (2%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 486.42 Td (Other expense/\(income\), net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 266.65 486.42 Td (27) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.80 486.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.30 486.47 Td (\(55) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.65 486.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.30 486.47 Td (\(57) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.65 486.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 486.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.30 486.47 Td (\(112) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.65 486.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.50 486.42 Td (\(1\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 471.42 Td (\(Benefit from\)/provision for income taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 263.30 471.42 Td (\(96) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 276.65 471.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.00 471.42 Td (\(1\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.30 471.47 Td (\(33) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.65 471.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.65 471.42 Td (217) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.30 471.47 Td (\(114) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.65 471.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.00 471.42 Td (h) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.65 471.42 Td (70) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.80 471.42 Td (1%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 456.42 Td (Interest in earnings of associates, net of tax) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 271.65 456.42 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.80 456.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.65 456.42 Td (11) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.30 456.47 Td (\(2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.65 456.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 456.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.65 456.42 Td (9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.30 456.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 441.42 Td (Net income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.65 441.42 Td (438) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.30 441.42 Td (6%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 441.42 Td (384) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.65 441.42 Td (329) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.30 441.47 Td (\(61) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.65 441.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.65 441.42 Td (652) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.80 441.42 Td (9%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 426.42 Td (Income attributable to noncontrolling) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 416.42 Td (interests) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 263.30 416.42 Td (\(18) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 276.65 416.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.80 416.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.30 416.47 Td (\(11) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.65 416.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.30 416.47 Td (\(1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.65 416.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 416.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.30 416.47 Td (\(12) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.65 416.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.30 416.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 401.42 Td (NET INCOME ATTRIBUTABLE TO) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 391.42 Td (WILLIS TOWERS WATSON) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 234.00 391.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.65 391.42 Td (420) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.30 391.42 Td (5%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.00 391.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 391.42 Td (373) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.00 391.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.65 391.42 Td (328) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.00 391.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.30 391.47 Td (\(61) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.65 391.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.00 391.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.65 391.42 Td (640) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.80 391.42 Td (9%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 361.42 Td (Basic earnings per share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 234.00 361.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.15 361.42 Td (3.07) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.00 361.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.15 361.42 Td (5.49) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.00 361.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.15 361.42 Td (4.75) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.00 361.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.15 361.42 Td (4.67) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.00 361.42 Td (i, j) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 346.42 Td (Diluted earnings per share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 234.00 346.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.15 346.42 Td (3.04) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.00 346.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.15 346.42 Td (5.41) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.00 346.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.15 346.42 Td (4.75) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.00 346.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.15 346.42 Td (4.64) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.00 346.42 Td (i, j) Tj ET Q BT /F1 10.00 Tf ET BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 321.25 Td (Pro Forma ) Tj ET Q q 0 0 0 rg BT 97.97 321.25 Td (Adjustments) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 149.10 321.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 300.25 Td (The unaudited pro forma financial information reflects the following adjustments:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.96 300.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 279.25 Td (a. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 82.00 279.25 Td (Inter) Tj ET Q q 0 0 0 rg BT 101.07 279.25 Td (company trading) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.11 279.25 Td (. ) Tj ET Q q 0 0 0 rg BT 173.56 279.25 Td (Adjustments to eliminate trading between Legacy ) Tj ET Q q 0 0 0 rg BT 374.99 279.25 Td (W) Tj ET Q q 0 0 0 rg BT 384.03 279.25 Td (illis and Legacy ) Tj ET Q q 0 0 0 rg BT 450.21 279.25 Td (T) Tj ET Q q 0 0 0 rg BT 455.62 279.25 Td (owers ) Tj ET Q q 0 0 0 rg BT 481.82 279.25 Td (W) Tj ET Q q 0 0 0 rg BT 490.46 279.25 Td (atson of $1 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 82.00 267.25 Td (million for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.27 267.25 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 185.85 267.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 188.35 267.25 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 266.94 267.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.44 267.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 246.25 Td (b. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 82.00 246.25 Td (Conforming r) Tj ET Q q 0 0 0 rg BT 136.36 246.25 Td (eclassifications and adjustments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 265.80 246.25 Td (. Certain reclassifications have been made to amounts in the ) Tj ET Q q 0 0 0 rg BT 508.04 246.25 Td (T) Tj ET Q q 0 0 0 rg BT 513.45 246.25 Td (owers ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 82.00 234.25 Td (W) Tj ET Q q 0 0 0 rg BT 90.64 234.25 Td (atson historical statement of operations to conform to ) Tj ET Q q 0 0 0 rg BT 306.52 234.25 Td (W) Tj ET Q q 0 0 0 rg BT 315.55 234.25 Td (illis) Tj ET Q q 0 0 0 rg BT 333.15 234.25 Td ( presentation, including reclassifying certain contra ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 82.00 222.25 Td (revenue accounts and ) Tj ET Q q 0 0 0 rg BT 170.39 222.25 Td (T) Tj ET Q q 0 0 0 rg BT 175.80 222.25 Td (owers ) Tj ET Q q 0 0 0 rg BT 202.00 222.25 Td (W) Tj ET Q q 0 0 0 rg BT 210.64 222.25 Td (atson) Tj ET Q q 0 0 0 rg BT 234.52 222.25 Td (s professional and subcontracted services, occupancy and general and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 82.00 210.25 Td (administrative expenses within the relevant ) Tj ET Q q 0 0 0 rg BT 257.60 210.25 Td (W) Tj ET Q q 0 0 0 rg BT 266.64 210.25 Td (illis captions.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.97 210.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 189.25 Td (c. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 82.00 189.25 Td (Pension and post-r) Tj ET Q q 0 0 0 rg BT 157.74 189.25 Td (etir) Tj ET Q q 0 0 0 rg BT 171.25 189.25 Td (ement benefit amortization.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 280.96 189.25 Td ( ) Tj ET Q q 0 0 0 rg BT 282.91 189.25 Td (Adjustments to remove the net periodic benefit costs of $33 million ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 82.00 177.25 Td (for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 110.88 177.25 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 154.46 177.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 156.96 177.25 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 235.54 177.25 Td ( associated with the amortization of net actuarial losses and prior service credits/) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 82.00 165.25 Td (costs for ) Tj ET Q q 0 0 0 rg BT 118.48 165.25 Td (T) Tj ET Q q 0 0 0 rg BT 123.89 165.25 Td (owers ) Tj ET Q q 0 0 0 rg BT 150.09 165.25 Td (W) Tj ET Q q 0 0 0 rg BT 158.73 165.25 Td (atson) Tj ET Q q 0 0 0 rg BT 182.62 165.25 Td (s pension and other post-retirement benefit plans) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.56 165.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 144.25 Td (d. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 82.00 144.25 Td (Rent.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 102.83 144.25 Td ( ) Tj ET Q q 0 0 0 rg BT 104.77 144.25 Td (Adjustment to eliminate $5 million of historical rent expense for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.99 144.25 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.57 144.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.07 144.25 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.66 144.25 Td ( of) Tj ET Q q 0 0 0 rg BT 515.31 144.25 Td (fset by $1 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 82.00 132.25 Td (million amortization of our favorable and unfavorable lease agreements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.05 132.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 111.25 Td (e. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 82.00 111.25 Td (Depr) Tj ET Q q 0 0 0 rg BT 102.18 111.25 Td (eciation. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 139.39 111.25 Td (Adjustment related to depreciation on internally developed software of $57 million partially of) Tj ET Q q 0 0 0 rg BT 517.99 111.25 Td (fset by an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 82.00 99.25 Td (increase of $1) Tj ET Q q 0 0 0 rg BT 137.71 99.25 Td (1 million for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 205.48 99.25 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.07 99.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 251.57 99.25 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.15 99.25 Td ( due to an increase in the estimated fair value for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 82.00 87.25 Td (leasehold improvements, furniture and fixtures and computer hardware and software.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.71 87.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 66.25 Td (f. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 82.00 66.25 Td (Amortization. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 139.23 66.25 Td (Historical amortization expense of $71 million was removed and amortization expense of $459 million ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 82.00 54.25 Td (has been recorded to reflect the estimated fair values of ) Tj ET Q q 0 0 0 rg BT 305.60 54.25 Td (T) Tj ET Q q 0 0 0 rg BT 311.01 54.25 Td (owers ) Tj ET Q q 0 0 0 rg BT 337.21 54.25 Td (W) Tj ET Q q 0 0 0 rg BT 345.85 54.25 Td (atson) Tj ET Q q 0 0 0 rg BT 369.74 54.25 Td (s identifiable intangible assets and related ) Tj ET Q endstream endobj 99 0 obj <> endobj 100 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (49) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 82.00 742.10 Td (amortization. See Item 8, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 185.30 742.10 Td (Note 3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 212.24 742.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 227.24 742.10 Td (Mer) Tj ET Q q 0 0 0 rg BT 243.72 742.10 Td (ger and ) Tj ET Q q 0 0 0 rg BT 275.37 742.10 Td (Acquisitions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 325.93 742.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.37 742.10 Td (Note 8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.31 742.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.31 742.10 Td (Goodwill and Other Intangible ) Tj ET Q q 0 0 0 rg BT 512.28 742.10 Td (Assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.40 742.10 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 540.90 742.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 721.10 Td (g. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 82.00 721.10 Td (Inter) Tj ET Q q 0 0 0 rg BT 101.07 721.10 Td (est Expense.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 150.49 721.10 Td ( Net adjustments to interest expense include additional interest and amortization of related deferred ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 82.00 709.10 Td (debt issuance costs. ) Tj ET Q q 0 0 0 rg BT 162.54 709.10 Td (Approximately $13 million incremental interest expense was recorded for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.22 709.10 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.80 709.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 82.00 697.10 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 160.58 697.10 Td ( related to a borrowing under a $340 million term loan as part of the funding for the pre-Mer) Tj ET Q q 0 0 0 rg BT 530.29 697.10 Td (ger ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 82.00 685.10 Td (special dividend on December 29, 2015 and the portion of the senior notes issuance used to repay ) Tj ET Q q 0 0 0 rg BT 474.49 685.10 Td (T) Tj ET Q q 0 0 0 rg BT 479.90 685.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 506.10 685.10 Td (W) Tj ET Q q 0 0 0 rg BT 514.74 685.10 Td (atson) Tj ET Q q 0 0 0 rg BT 538.63 685.10 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 82.00 673.10 Td (existing debt at the time of the Mer) Tj ET Q q 0 0 0 rg BT 222.62 673.10 Td (ger) Tj ET Q q 0 0 0 rg BT 234.83 673.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 239.83 673.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 652.10 Td (h. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 82.00 652.10 Td (Income taxes.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 136.98 652.10 Td ( ) Tj ET Q q 0 0 0 rg BT 138.92 652.10 Td (Adjustments to record the income tax impact of the pro forma adjustments, including the removal of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 82.00 640.10 Td (tax consequences of the repatriation of foreign earnings to partially fund the pre-Mer) Tj ET Q q 0 0 0 rg BT 421.14 640.10 Td (ger special dividend. ) Tj ET Q q 0 0 0 rg BT 506.48 640.10 Td (The income ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 82.00 628.10 Td (tax expense was calculated based on the U.S. and foreign statutory rates applicable to adjustments made. ) Tj ET Q q 0 0 0 rg BT 503.07 628.10 Td (Where ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 82.00 616.10 Td (applicable, a U.S. statutory rate of 40% was used. Pro forma adjustments for income tax purposes have been ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 82.00 604.10 Td (determined without regard to potential tax planning strategies that may result from the Mer) Tj ET Q q 0 0 0 rg BT 445.88 604.10 Td (ger of ) Tj ET Q q 0 0 0 rg BT 471.80 604.10 Td (T) Tj ET Q q 0 0 0 rg BT 477.21 604.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 503.41 604.10 Td (W) Tj ET Q q 0 0 0 rg BT 512.05 604.10 Td (atson with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 82.00 592.10 Td (W) Tj ET Q q 0 0 0 rg BT 91.04 592.10 Td (illis. ) Tj ET Q q 0 0 0 rg BT 110.86 592.10 Td (T) Tj ET Q q 0 0 0 rg BT 116.27 592.10 Td (ax benefits from the Mer) Tj ET Q q 0 0 0 rg BT 215.50 592.10 Td (ger have not been considered in our pro forma adjustments.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.21 592.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 571.10 Td (i. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 82.00 571.10 Td (W) Tj ET Q q 0 0 0 rg BT 89.78 571.10 Td (illis or) Tj ET Q q 0 0 0 rg BT 115.80 571.10 Td (dinary shar) Tj ET Q q 0 0 0 rg BT 161.82 571.10 Td (es issuance.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 209.59 571.10 Td ( ) Tj ET Q q 0 0 0 rg BT 211.54 571.10 Td (Approximately 184 million ) Tj ET Q q 0 0 0 rg BT 323.29 571.10 Td (W) Tj ET Q q 0 0 0 rg BT 332.33 571.10 Td (illis ordinary shares \(prior to the reverse stock split\) were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 82.00 559.10 Td (issued to ) Tj ET Q q 0 0 0 rg BT 119.60 559.10 Td (T) Tj ET Q q 0 0 0 rg BT 125.01 559.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 151.21 559.10 Td (W) Tj ET Q q 0 0 0 rg BT 159.85 559.10 Td (atson stockholders as the Mer) Tj ET Q q 0 0 0 rg BT 278.53 559.10 Td (ger Consideration in connection with the Mer) Tj ET Q q 0 0 0 rg BT 460.53 559.10 Td (ger) Tj ET Q q 0 0 0 rg BT 472.89 559.10 Td (, based on ) Tj ET Q q 0 0 0 rg BT 515.48 559.10 Td (T) Tj ET Q q 0 0 0 rg BT 520.89 559.10 Td (owers ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 82.00 547.10 Td (W) Tj ET Q q 0 0 0 rg BT 90.64 547.10 Td (atson shares of common stock outstanding as of January 4, 2016, at a per share price of $47.18, which was the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 82.00 535.10 Td (closing share price on that date, for a total value of approximately $8.7 billion. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.85 535.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 514.10 Td (j. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 82.00 514.10 Td (Earnings per shar) Tj ET Q q 0 0 0 rg BT 154.41 514.10 Td (e.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 161.35 514.10 Td ( ) Tj ET Q q 0 0 0 rg BT 163.67 514.10 Td (The pro forma consolidated basic and diluted earnings per share for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.35 514.10 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.93 514.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.43 514.10 Td (December31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 82.00 502.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 102.00 502.10 Td ( are calculated as follows:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 205.84 502.10 Td ( ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 82.50 446.60 400.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 446.60 80.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 82.50 416.60 400.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 416.60 80.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 82.50 386.60 400.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 386.60 80.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 82.50 356.60 400.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 356.60 80.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 467.6 m 562.5 467.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 416.6 m 562.5 416.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 416.6 m 562.5 416.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 386.6 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 482.5 371.6 m 562.5 371.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 356.6 m 562.5 356.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 342.6 m 562.5 342.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 340.6 m 562.5 340.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 327.6 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 482.5 325.6 m 562.5 325.6 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 501.95 479.83 Td (Year Ended) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 488.75 471.83 Td (December 31, 2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 489.85 458.83 Td (\(in millions, except) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 496.10 450.83 Td (per share data\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.00 436.27 Td (W) Tj ET Q q 0 0 0 rg BT 94.04 436.27 Td (illis historic average basic shares in issue ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 260.94 440.80 Td (\(i\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 436.27 Td (68) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.00 421.27 Td (Shares issued for ) Tj ET Q q 0 0 0 rg BT 155.64 421.27 Td (T) Tj ET Q q 0 0 0 rg BT 161.05 421.27 Td (owers ) Tj ET Q q 0 0 0 rg BT 187.25 421.27 Td (W) Tj ET Q q 0 0 0 rg BT 195.89 421.27 Td (atson ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 219.50 425.80 Td (\(ii\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 421.27 Td (69) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.00 406.27 Td (Willis historic average basic shares in issue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 406.27 Td (137) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.00 391.27 Td (Dilutive effect of securities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 391.27 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.00 376.27 Td (Diluted weighted average shares outstanding) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 376.27 Td (138) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.00 361.27 Td (Pro forma net income attributable to Willis Towers Watson) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.00 361.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 361.27 Td (640) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.00 346.27 Td (Basic earnings per share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.00 346.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 346.27 Td (4.67) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.00 331.27 Td (Diluted earnings per share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.00 331.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 331.27 Td (4.64) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 82.00 315.10 Td (____________________) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 182.00 315.10 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 302.50 Td (\(i\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 104.00 302.50 Td (After taking into account the impact of the reverse stock split on January 4, 2016.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 364.82 302.50 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 289.90 Td (\(ii\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 104.00 289.90 Td (Shares issued for ) Tj ET Q q 0 0 0 rg BT 160.51 289.90 Td (T) Tj ET Q q 0 0 0 rg BT 164.84 289.90 Td (owers ) Tj ET Q q 0 0 0 rg BT 185.80 289.90 Td (W) Tj ET Q q 0 0 0 rg BT 192.71 289.90 Td (atson based on approximately 69 million ) Tj ET Q q 0 0 0 rg BT 324.99 289.90 Td (T) Tj ET Q q 0 0 0 rg BT 329.32 289.90 Td (owers ) Tj ET Q q 0 0 0 rg BT 350.28 289.90 Td (W) Tj ET Q q 0 0 0 rg BT 357.19 289.90 Td (atson shares outstanding at January 4, 2016.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 498.05 289.90 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 268.90 Td (k. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 82.00 268.90 Td (T) Tj ET Q q 0 0 0 rg BT 87.01 268.90 Td (ransaction and integration expenses. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 237.27 268.90 Td (T) Tj ET Q q 0 0 0 rg BT 243.03 268.90 Td (ransaction and integration costs related to the Mer) Tj ET Q q 0 0 0 rg BT 443.05 268.90 Td (ger and have been ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 82.00 256.90 Td (eliminated.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 126.71 256.90 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 235.90 Td (Consolidated Revenues) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 145.83 235.90 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.90 Td (The following table sets out the total revenues generated for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.41 214.90 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.00 214.90 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.50 214.90 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.08 214.90 Td (, pro forma revenues generated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 202.90 Td (for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.88 202.90 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.46 202.90 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 124.96 202.90 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 203.54 202.90 Td (, and the components of the change for the year ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.35 202.90 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.93 202.90 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.43 202.90 Td ( ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 137.40 100.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 150.50 137.40 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 156.50 137.40 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 223.50 137.40 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 229.50 137.40 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 296.50 137.40 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 137.40 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.50 137.40 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 354.50 137.40 47.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.50 137.40 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 406.50 137.40 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 454.50 137.40 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 137.40 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.50 137.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 514.50 137.40 48.00 -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 156.5 178.39999999999998 m 223.5 178.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 223.5 178.39999999999998 m 229.5 178.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 229.5 178.39999999999998 m 296.5 178.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 178.39999999999998 m 349.5 178.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 354.5 178.39999999999998 m 401.5 178.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 401.5 178.39999999999998 m 406.5 178.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 178.39999999999998 m 454.5 178.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 454.5 178.39999999999998 m 459.5 178.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 178.39999999999998 m 510.5 178.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510.5 178.39999999999998 m 514.5 178.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514.5 178.39999999999998 m 562.5 178.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 156.5 150.39999999999998 m 223.5 150.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 229.5 150.39999999999998 m 296.5 150.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 150.39999999999998 m 349.5 150.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 354.5 150.39999999999998 m 401.5 150.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 150.39999999999998 m 454.5 150.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 150.39999999999998 m 510.5 150.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514.5 150.39999999999998 m 562.5 150.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 156.5 123.39999999999998 m 223.5 123.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 156.5 121.39999999999998 m 223.5 121.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 229.5 123.39999999999998 m 296.5 123.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 229.5 121.39999999999998 m 296.5 121.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 122.39999999999998 m 349.5 122.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 354.5 122.39999999999998 m 401.5 122.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 122.39999999999998 m 454.5 122.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 122.39999999999998 m 510.5 122.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514.5 122.39999999999998 m 562.5 122.39999999999998 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 180.95 182.63 Td (Years ended December 31,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 417.95 182.63 Td (Components of Change) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 243.80 168.63 Td (Pro Forma) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 306.30 162.63 Td (Pro Forma) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 311.85 154.63 Td (Change) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 361.10 162.63 Td (Currency) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 365.25 154.63 Td (Impact) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 414.40 170.48 Td (Constant) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 413.60 162.48 Td (Currency) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 416.85 154.48 Td (Change) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 462.25 162.63 Td (Acquisitions/) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 464.10 154.63 Td (Divestitures) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 524.00 162.63 Td (Organic) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 524.85 154.63 Td (Change) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 181.50 154.63 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 254.50 154.63 Td (2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 205.40 141.63 Td (\(in millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 127.07 Td (Total revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 159.00 127.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 197.15 127.07 Td (7,887) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.00 127.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.15 127.07 Td (7,492) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.30 127.07 Td (5%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.50 127.07 Td (\(3\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.30 127.07 Td (8%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.80 127.07 Td (7%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.30 127.07 Td (1%) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 101.90 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 101.90 Td (otal revenues for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 139.82 101.90 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 183.40 101.90 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 185.90 101.90 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 264.49 101.90 Td ( were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.92 101.90 Td ($7.9 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.03 101.90 Td (, compared to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.23 101.90 Td ($7.5 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.34 101.90 Td ( pro forma revenues for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 89.90 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 93.58 89.90 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 96.08 89.90 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 174.67 89.90 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 179.67 89.90 Td (an increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.36 89.90 Td ( of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 237.69 89.90 Td ($395 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.08 89.90 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.91 89.90 Td (5%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.24 89.90 Td (. ) Tj ET Q q 0 0 0 rg BT 323.06 89.90 Td (This growth was driven by a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.71 89.90 Td (7%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.04 89.90 Td ( increase due to our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 77.90 Td (acquisitions of Gras Savoye and Miller and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.80 77.90 Td (1%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 239.13 77.90 Td ( or) Tj ET Q q 0 0 0 rg BT 249.78 77.90 Td (ganic revenue growth, partially of) Tj ET Q q 0 0 0 rg BT 385.38 77.90 Td (fset by adverse foreign currency exchange ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 65.90 Td (movements of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 109.43 65.90 Td (3%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.76 65.90 Td (. ) Tj ET Q q 0 0 0 rg BT 130.08 65.90 Td (The primary drivers of our growth were within our Corporate Risk and Broking and Exchange Solutions ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 53.90 Td (segments. See our segment revenues analysis for a further discussion of our segment results.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.63 53.90 Td ( ) Tj ET Q endstream endobj 101 0 obj <> endobj 102 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (Our results can be materially impacted by changes in currency conversions, which can fluctuate significantly over the course of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (a calendar year) Tj ET Q q 0 0 0 rg BT 109.96 730.10 Td (. For the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 148.56 730.10 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 192.15 730.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 194.65 730.10 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.23 730.10 Td (, currency translation decreased our consolidated revenues by $202 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (million on a constant currency basis from the pro forma ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.49 718.10 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.08 718.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.58 718.10 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.16 718.10 Td (. ) Tj ET Q q 0 0 0 rg BT 404.98 718.10 Td (The primary currency driving the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (change was the Pound sterling which weakened against the U.S. dollar during 2016.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.31 706.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 685.10 Td (The or) Tj ET Q q 0 0 0 rg BT 76.20 685.10 Td (ganic change presented above includes the reduction to revenues for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 366.36 685.10 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.94 685.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.44 685.10 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.03 685.10 Td ( related to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 673.10 Td (fair value adjustment for deferred revenue made during purchase accounting for the Mer) Tj ET Q q 0 0 0 rg BT 403.55 673.10 Td (ger) Tj ET Q q 0 0 0 rg BT 415.77 673.10 Td (. If this revenue had not been ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 661.10 Td (reduced, the constant currency change would have been an increase of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.75 661.10 Td (9%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 347.08 661.10 Td ( and the or) Tj ET Q q 0 0 0 rg BT 389.39 661.10 Td (ganic change would have been an increase ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 649.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 60.83 649.10 Td (2%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.16 649.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 126.82 649.10 Td (, for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 160.70 649.10 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 204.28 649.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 206.78 649.10 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 285.37 649.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.87 649.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 628.10 Td (Definitions of Constant Currency Change and Or) Tj ET Q q 0 0 0 rg BT 246.45 628.10 Td (ganic Change are included in the section entitled Non-GAAP) Tj ET Q q 0 0 0 rg BT 494.34 628.10 Td ( Financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 616.10 Td (Measures) Tj ET Q q 0 0 0 rg BT 90.91 616.10 Td ( in this Form 10-K.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 167.86 616.10 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 595.10 Td (Salaries and Benefits) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 137.79 595.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (Salaries and benefits were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 157.18 574.10 Td ($4.6 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 203.29 574.10 Td ( for the year ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 280.75 574.10 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.34 574.10 Td (, an increase of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.36 574.10 Td ($215 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.75 574.10 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.58 574.10 Td (5%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.91 574.10 Td (, compared to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td ($4.4 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 96.11 562.10 Td ( for the pro forma year ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 215.78 562.10 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.37 562.10 Td (. ) Tj ET Q q 0 0 0 rg BT 301.68 562.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.73 562.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.49 562.10 Td ( was primarily related to our acquisitions of Gras ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (Savoye and Miller which contributed approximately $291 million of the increase, partially of) Tj ET Q q 0 0 0 rg BT 422.77 550.10 Td (fset by increased net periodic ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (benefit credits from the adoption of the granular approach to calculating service and interest costs of $51 million.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.63 538.10 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 517.10 Td (Other Operating Expenses) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 159.45 517.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 496.10 Td (Other operating expenses include occupancy) Tj ET Q q 0 0 0 rg BT 228.17 496.10 Td (, legal, marketing, licenses, royalties, supplies, technology) Tj ET Q q 0 0 0 rg BT 460.80 496.10 Td (, printing and telephone ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 484.10 Td (costs, as well as insurance, including premiums on excess insurance and losses on professional liability claims, non-client-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 472.10 Td (reimbursed travel by colleagues, publications, professional subscriptions and development, recruitment, other professional fees ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 460.10 Td (and irrecoverable value added and sales taxes.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 234.63 460.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 439.10 Td (Other operating expenses for the year ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 229.09 439.10 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.68 439.10 Td ( were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.10 439.10 Td ($1.6 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.22 439.10 Td (, compared to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.42 439.10 Td ($1.4 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.53 439.10 Td ( for the pro forma ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 427.10 Td (year ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 96.08 427.10 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 174.67 427.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 179.67 427.10 Td (an increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.36 427.10 Td ( of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 237.69 427.10 Td ($105 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.08 427.10 Td ( or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.41 427.10 Td (7%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.74 427.10 Td (. ) Tj ET Q q 0 0 0 rg BT 323.06 427.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.11 427.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.86 427.10 Td ( was primarily related to our acquisitions of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 415.10 Td (Gras Savoye and Miller) Tj ET Q q 0 0 0 rg BT 144.85 415.10 Td (, which contributed approximately $135 million of the increase. In 2016, we accrued ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.36 415.10 Td ($50 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.75 415.10 Td ( for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 403.10 Td (the Stanford litigation, which was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 187.75 403.10 Td ($20 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 234.15 403.10 Td ( less ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.15 403.10 Td (than the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.58 403.10 Td ($70 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.97 403.10 Td ( accrued in 2015.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.83 403.10 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 382.10 Td (Depreciation) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 103.33 382.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 361.10 Td (Depreciation represents the expense incurred over the useful life of our tangible fixed assets and internally developed software. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 349.10 Td (Depreciation was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.19 349.10 Td ($178 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 173.58 349.10 Td ( for the year ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 251.04 349.10 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.63 349.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.63 349.10 Td (an increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.32 349.10 Td ( of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.65 349.10 Td ($19 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.04 349.10 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.87 349.10 Td (12%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.20 349.10 Td (, compared to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.41 349.10 Td ($159 ) 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 ( for the pro forma year ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 198.56 337.10 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 277.14 337.10 Td (. ) Tj ET Q q 0 0 0 rg BT 281.96 337.10 Td (The increase was primarily related to our acquisitions of Gras Savoye ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 325.10 Td (and Miller and our normal capital expenditures. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.27 325.10 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 304.10 Td (Amortization) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 103.91 304.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 283.10 Td (Amortization includes amortization of acquired intangible assets, including acquired internally developed software. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 271.10 Td (Amortization was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 123.87 271.10 Td ($591 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 175.26 271.10 Td ( for the year ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 252.72 271.10 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.31 271.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.31 271.10 Td (an increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.00 271.10 Td ( of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.33 271.10 Td ($56 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.72 271.10 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.55 271.10 Td (10%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.88 271.10 Td (, compared to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.08 271.10 Td ($535 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 259.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.89 259.10 Td ( for the pro forma year ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 198.56 259.10 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 277.14 259.10 Td (. ) Tj ET Q q 0 0 0 rg BT 281.96 259.10 Td (The increase in amortization in 2016 is primarily due to amortization ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 247.10 Td (of the intangible assets acquired in our acquisitions of Gras Savoye and Miller) Tj ET Q q 0 0 0 rg BT 362.71 247.10 Td (. ) Tj ET Q q 0 0 0 rg BT 367.52 247.10 Td (W) Tj ET Q q 0 0 0 rg BT 376.16 247.10 Td (e acquired approximately $231 million and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 235.10 Td ($440 million in intangible assets in our acquisitions of Miller and Gras Savoye, respectively) Tj ET Q q 0 0 0 rg BT 417.62 235.10 Td (. ) Tj ET Q q 0 0 0 rg BT 422.44 235.10 Td (These intangible assets are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 223.10 Td (amortized over their expected lives which range from 4 to 25 years. See) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.89 223.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.39 223.10 Td (Note 3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.33 223.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.33 223.10 Td (Mer) Tj ET Q q 0 0 0 rg BT 400.81 223.10 Td (ger and ) Tj ET Q q 0 0 0 rg BT 432.47 223.10 Td (Acquisitions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.02 223.10 Td ( and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.96 223.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.46 223.10 Td (Note 8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.40 223.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 211.10 Td (Goodwill and Other Intangible ) Tj ET Q q 0 0 0 rg BT 174.98 211.10 Td (Assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 201.09 211.10 Td ( within Item 8 of this ) Tj ET Q q 0 0 0 rg BT 287.20 211.10 Td (Annual Report on Form 10-K for additional information about our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 199.10 Td (intangible assets.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.32 199.10 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 178.10 Td (T) Tj ET Q q 0 0 0 rg BT 55.74 178.10 Td (ransaction and integration expenses ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 207.43 178.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 157.10 Td (T) Tj ET Q q 0 0 0 rg BT 55.76 157.10 Td (ransaction and integration expenses were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 222.64 157.10 Td ($177 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.03 157.10 Td ( for the year ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.49 157.10 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.07 157.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.07 157.10 Td (an increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.77 157.10 Td ( of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.10 157.10 Td ($147 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.49 157.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 145.10 Td (compared to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 102.20 145.10 Td ($30 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 148.59 145.10 Td ( for the pro forma year ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.26 145.10 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.85 145.10 Td (. ) Tj ET Q q 0 0 0 rg BT 351.67 145.10 Td (The increase in 2016 is primarily due to integration ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 133.10 Td (expenses incurred subsequent to the Mer) Tj ET Q q 0 0 0 rg BT 212.83 133.10 Td (ger) Tj ET Q q 0 0 0 rg BT 225.04 133.10 Td (. For the year ended December 31, 2016, approximately $162 million of these ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 121.10 Td (expenses were related to the Mer) Tj ET Q q 0 0 0 rg BT 181.70 121.10 Td (ger and $15 million were related to the integration of Gras Savoye. For the pro forma year ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 109.10 Td (ended December 31, 2015, transaction expenses related to the Mer) Tj ET Q q 0 0 0 rg BT 316.11 109.10 Td (ger of $151 million have been eliminated as part of the pro ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 97.10 Td (forma adjustments. Of the remaining $30 million of transaction and integration expenses, approximately $15 million were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 85.10 Td (related to Gras Savoye, $1) Tj ET Q q 0 0 0 rg BT 155.43 85.10 Td (1 million were related to Miller) Tj ET Q q 0 0 0 rg BT 280.83 85.10 Td (, and $4 million were related to other miscellaneous M&A) Tj ET Q q 0 0 0 rg BT 514.10 85.10 Td ( activity) Tj ET Q q 0 0 0 rg BT 545.94 85.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.44 85.10 Td ( ) Tj ET Q endstream endobj 103 0 obj <> endobj 104 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (51) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (Restructuring costs and Interest expense) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 217.24 742.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 721.25 Td (Please see the discussion in the As Reported Consolidated Financial Information) Tj ET Q q 0 0 0 rg BT 378.63 721.25 Td ( section above.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.33 721.25 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 700.25 Td (Income from Operations) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 151.67 700.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 679.25 Td (Income from operations for the year ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 223.54 679.25 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.12 679.25 Td ( was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.68 679.25 Td ($551 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.07 679.25 Td (, compared to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.27 679.25 Td ($765 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.66 679.25 Td ( for the pro forma ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 667.25 Td (year ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 96.08 667.25 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 174.67 667.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 179.67 667.25 Td (a decrease) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 221.02 667.25 Td ( of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 234.35 667.25 Td ($214 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 285.74 667.25 Td (. ) Tj ET Q q 0 0 0 rg BT 293.06 667.25 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.11 667.25 Td (decrease) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.52 667.25 Td ( was primarily due to increases in transaction and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 655.25 Td (integration expenses of $147 million and restructuring costs of $67 million.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.89 655.25 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 634.25 Td (Other Expense/\(Income\), Net) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 171.38 634.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 613.25 Td (Other expense/\(income\), net, includes other gains and losses, including gains and losses on foreign currency transactions.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.70 613.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 592.25 Td (Other expense/\(income\), net, for the year ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.53 592.25 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.11 592.25 Td ( was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.66 592.25 Td ($27 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.05 592.25 Td ( of net expense, which was primarily ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 580.25 Td (foreign currency transaction losses. Other expense/\(income\), net for the pro forma year ended December 31, 2015 was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.48 580.25 Td ($1) Tj ET Q q 0 0 0 rg BT 536.11 580.25 Td (12 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 568.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.89 568.25 Td ( of net income, which was primarily due to $80 million of gains on disposals of operations and $59 million in the gain ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 556.25 Td (on the remeasurement of equity interests, partially of) Tj ET Q q 0 0 0 rg BT 261.42 556.25 Td (fset by $30 million in foreign currency transaction losses in 2015. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.92 556.25 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 535.25 Td (\(Benefit from\)/Provision for Income T) Tj ET Q q 0 0 0 rg BT 207.40 535.25 Td (axes) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 225.73 535.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.25 Td (For the year ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 127.19 514.25 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 205.78 514.25 Td (, there was a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.25 514.25 Td ($96 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.64 514.25 Td ( benefit from income taxes, due primarily to a benefit from the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.25 Td (release of a portion of our U.S. valuation allowances and shifts in the global mix of income as a result of the Mer) Tj ET Q q 0 0 0 rg BT 501.92 502.25 Td (ger) Tj ET Q q 0 0 0 rg BT 514.14 502.25 Td (. ) Tj ET Q q 0 0 0 rg BT 521.46 502.25 Td (This shift ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.25 Td (creates additional deductions in jurisdictions with high statutory income tax rates, which reduces the global ef) Tj ET Q q 0 0 0 rg BT 489.15 490.25 Td (fective tax rate. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.25 Td (For the pro forma year ended December 31, 2015, there was a provision for income taxes of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.71 478.25 Td ($70 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.10 478.25 Td (. Legacy ) Tj ET Q q 0 0 0 rg BT 506.34 478.25 Td (W) Tj ET Q q 0 0 0 rg BT 515.38 478.25 Td (illis had a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.25 Td (benefit from income taxes due to the release of a portion of U.S. valuation allowances in 2015 which was more than of) Tj ET Q q 0 0 0 rg BT 524.96 466.25 Td (fset by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.25 Td (the provision for income taxes for Legacy ) Tj ET Q q 0 0 0 rg BT 220.04 454.25 Td (T) Tj ET Q q 0 0 0 rg BT 225.45 454.25 Td (owers ) Tj ET Q q 0 0 0 rg BT 251.65 454.25 Td (W) Tj ET Q q 0 0 0 rg BT 260.29 454.25 Td (atson. ) Tj ET Q BT /F1 10.00 Tf ET BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 433.25 Td (Net Income ) Tj ET Q q 0 0 0 rg BT 100.18 433.25 Td (Attributable to ) Tj ET Q q 0 0 0 rg BT 162.23 433.25 Td (W) Tj ET Q q 0 0 0 rg BT 170.75 433.25 Td (illis T) Tj ET Q q 0 0 0 rg BT 193.44 433.25 Td (owers ) Tj ET Q q 0 0 0 rg BT 219.65 433.25 Td (W) Tj ET Q q 0 0 0 rg BT 227.80 433.25 Td (atson) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 250.03 433.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 412.25 Td (Net income attributable to ) Tj ET Q q 0 0 0 rg BT 157.01 412.25 Td (W) Tj ET Q q 0 0 0 rg BT 166.04 412.25 Td (illis ) Tj ET Q q 0 0 0 rg BT 183.37 412.25 Td (T) Tj ET Q q 0 0 0 rg BT 188.78 412.25 Td (owers ) Tj ET Q q 0 0 0 rg BT 214.98 412.25 Td (W) Tj ET Q q 0 0 0 rg BT 223.62 412.25 Td (atson for the year ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.19 412.25 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.77 412.25 Td ( was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.32 412.25 Td ($420 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.71 412.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.71 412.25 Td (a decrease) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.07 412.25 Td ( of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.40 412.25 Td ($220 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 400.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.89 400.25 Td ( compared to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 133.59 400.25 Td ($640 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 184.99 400.25 Td ( for the pro forma year ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.65 400.25 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.24 400.25 Td (. ) Tj ET Q q 0 0 0 rg BT 388.06 400.25 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.10 400.25 Td (decrease) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.52 400.25 Td ( was primarily driven by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 388.25 Td (increased transaction and integration expenses of $147 million and restructuring costs of $67 million in 2016 and gains on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 376.25 Td (disposals of $80 million and remeasurement of equity interests of $59 million in 2015, partially of) Tj ET Q q 0 0 0 rg BT 442.53 376.25 Td (fset by a decrease in income ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 364.25 Td (tax expense of $166 million.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 164.15 364.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 343.25 Td (Supplementary Pr) Tj ET Q q 0 0 0 rg BT 128.43 343.25 Td (o Forma Segment Revenues ) Tj ET Q q 0 0 0 rg BT 248.96 343.25 Td (Analysis) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 322.25 Td (Human Capital and Benefits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 168.63 322.25 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 171.13 322.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 301.25 Td (The following table sets out the components of HCB revenues for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.49 301.25 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.08 301.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.58 301.25 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.16 301.25 Td ( and pro forma revenues ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 289.25 Td (for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.88 289.25 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.46 289.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 124.96 289.25 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 203.54 289.25 Td (, and the components of the change in commissions and fees for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.81 289.25 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.39 289.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 277.25 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.58 277.25 Td (.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 214.75 110.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 160.50 214.75 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 166.50 214.75 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 228.50 214.75 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 234.50 214.75 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 296.50 214.75 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 214.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.50 214.75 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 354.50 214.75 47.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.50 214.75 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 406.50 214.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 454.50 214.75 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 214.75 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.50 214.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 514.50 214.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 184.75 110.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 160.50 184.75 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 166.50 184.75 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 228.50 184.75 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 234.50 184.75 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 296.50 184.75 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 184.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.50 184.75 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 354.50 184.75 47.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.50 184.75 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 406.50 184.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 454.50 184.75 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 184.75 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.50 184.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 514.50 184.75 48.00 -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 166.5 253.75 m 228.5 253.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 228.5 253.75 m 234.5 253.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 234.5 253.75 m 296.5 253.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 354.5 253.75 m 401.5 253.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 401.5 253.75 m 406.5 253.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 253.75 m 454.5 253.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 454.5 253.75 m 459.5 253.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 253.75 m 510.5 253.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510.5 253.75 m 514.5 253.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514.5 253.75 m 562.5 253.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 253.75 m 349.5 253.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 166.5 227.75 m 228.5 227.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 234.5 227.75 m 296.5 227.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 227.75 m 349.5 227.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 354.5 227.75 m 401.5 227.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 227.75 m 454.5 227.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 227.75 m 510.5 227.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514.5 227.75 m 562.5 227.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 166.5 184.75 m 228.5 184.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 166.5 170.75 m 228.5 170.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 166.5 168.75 m 228.5 168.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 234.5 184.75 m 296.5 184.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 234.5 170.75 m 296.5 170.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 234.5 168.75 m 296.5 168.75 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 185.95 257.98 Td (Years ended December 31,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 417.95 257.98 Td (Components of Change) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 246.30 244.98 Td (Pro Forma) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 306.30 239.98 Td (Pro Forma) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 311.85 231.98 Td (Change) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 361.10 239.98 Td (Currency) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 365.25 231.98 Td (Impact) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 414.40 245.83 Td (Constant) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 413.60 237.83 Td (Currency) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 416.85 229.88 Td (Change) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 462.25 239.98 Td (Acquisitions/) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 464.10 231.98 Td (Divestitures) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 524.00 239.98 Td (Organic) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 524.85 231.98 Td (Change) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 189.00 231.98 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 257.00 231.98 Td (2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 210.40 218.98 Td (\(in millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 204.42 Td (Commissions and fees) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.00 204.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 202.15 204.42 Td (3,210) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 237.00 204.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.15 204.42 Td (3,151) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.30 204.42 Td (2%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.50 204.42 Td (\(3\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.30 204.42 Td (5%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.80 204.42 Td (5%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.80 204.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 189.42 Td (Interest and other income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.65 189.42 Td (16) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.65 189.42 Td (16) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 174.42 Td (Total segment revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.00 174.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 202.15 174.42 Td (3,226) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 237.00 174.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.15 174.42 Td (3,167) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 149.25 Td (HCB total segment revenues for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.07 149.25 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 239.66 149.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.16 149.25 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.74 149.25 Td ( and pro forma for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.26 149.25 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.85 149.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.35 149.25 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.93 149.25 Td ( were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 137.25 Td ($3.2 billion; and commissions and fees for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 237.47 137.25 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.05 137.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.55 137.25 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.14 137.25 Td ( and pro forma for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.66 137.25 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.25 137.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.75 137.25 Td (December31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 125.25 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 125.25 Td ( were $3.2 billion, representing an increase of $59 million. Pro forma and constant currency revenue growth were driven ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 113.25 Td (by the acquisition of Gras Savoye, which occurred on December 29, 2015. In an ef) Tj ET Q q 0 0 0 rg BT 383.60 113.25 Td (fort to align resources and market demand, a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 101.25 Td (significant restructuring across all lines of business took place during the second half of 2016, which caused disruption in our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 89.25 Td (billable hours. ) Tj ET Q q 0 0 0 rg BT 109.16 89.25 Td (Across the segment, performance was mixed, resulting in flat or) Tj ET Q q 0 0 0 rg BT 365.29 89.25 Td (ganic growth. Retirement revenues declined ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 77.25 Td (slightly as a result of reduced actuarial consulting, primarily in the fourth quarter) Tj ET Q q 0 0 0 rg BT 372.96 77.25 Td (. ) Tj ET Q q 0 0 0 rg BT 377.78 77.25 Td (The Health and Benefits North ) Tj ET Q q 0 0 0 rg BT 503.02 77.25 Td (America ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 65.25 Td (consulting business continued to see demand for plan design projects and increased product revenue. ) Tj ET Q q 0 0 0 rg BT 458.04 65.25 Td (The ) Tj ET Q q 0 0 0 rg BT 475.90 65.25 Td (T) Tj ET Q q 0 0 0 rg BT 481.31 65.25 Td (alent and Rewards ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 53.25 Td (advisory business was down period-over) Tj ET Q q 0 0 0 rg BT 212.55 53.25 Td (-period as the M&A) Tj ET Q q 0 0 0 rg BT 292.81 53.25 Td ( market softened.) Tj ET Q q 0 0 0 rg BT 364.27 53.25 Td (The ) Tj ET Q q 0 0 0 rg BT 382.14 53.25 Td (T) Tj ET Q q 0 0 0 rg BT 387.55 53.25 Td (echnology and ) Tj ET Q q 0 0 0 rg BT 448.09 53.25 Td (Administration Solutions ) Tj ET Q endstream endobj 105 0 obj <> endobj 106 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (52) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (Great Britain business had strong performance, led by increased project and administration activity along with new ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (clients.Internationally) Tj ET Q q 0 0 0 rg BT 139.32 730.10 Td (, Global ) Tj ET Q q 0 0 0 rg BT 173.86 730.10 Td (W) Tj ET Q q 0 0 0 rg BT 182.50 730.10 Td (ealth Solutions has been negatively impacted by adverse conditions in the Greater China ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (market.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.26 718.10 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 697.10 Td (Corporate Risk and Broking) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 166.97 697.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 676.10 Td (The following table sets out the components of CRB revenues for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.94 676.10 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.53 676.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.03 676.10 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.61 676.10 Td ( and pro forma revenues ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 664.10 Td (for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.88 664.10 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.46 664.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 124.96 664.10 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 203.54 664.10 Td (, and the components of the change in commissions and fees for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.81 664.10 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.39 664.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 652.10 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.58 652.10 Td (.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 589.60 110.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 160.50 589.60 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 166.50 589.60 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 228.50 589.60 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 234.50 589.60 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 296.50 589.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 589.60 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.50 589.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 354.50 589.60 47.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.50 589.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 406.50 589.60 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 454.50 589.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 589.60 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.50 589.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 514.50 589.60 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 559.60 110.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 160.50 559.60 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 166.50 559.60 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 228.50 559.60 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 234.50 559.60 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 296.50 559.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 559.60 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.50 559.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 354.50 559.60 47.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.50 559.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 406.50 559.60 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 454.50 559.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 559.60 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.50 559.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 514.50 559.60 48.00 -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 166.5 628.6 m 228.5 628.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 228.5 628.6 m 234.5 628.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 234.5 628.6 m 296.5 628.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 354.5 628.6 m 401.5 628.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 401.5 628.6 m 406.5 628.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 628.6 m 454.5 628.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 454.5 628.6 m 459.5 628.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 628.6 m 510.5 628.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510.5 628.6 m 514.5 628.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514.5 628.6 m 562.5 628.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 628.6 m 349.5 628.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 166.5 602.6 m 228.5 602.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 234.5 602.6 m 296.5 602.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 602.6 m 349.5 602.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 354.5 602.6 m 401.5 602.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 602.6 m 454.5 602.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 602.6 m 510.5 602.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514.5 602.6 m 562.5 602.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 166.5 559.6 m 228.5 559.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 166.5 545.6 m 228.5 545.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 166.5 543.6 m 228.5 543.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 234.5 559.6 m 296.5 559.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 234.5 545.6 m 296.5 545.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 234.5 543.6 m 296.5 543.6 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 185.95 632.83 Td (Years ended December 31,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 417.95 632.83 Td (Components of Change) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 246.30 619.83 Td (Pro Forma) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 306.30 614.83 Td (Pro Forma) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 311.85 606.83 Td (Change) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 361.10 614.83 Td (Currency) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 365.25 606.83 Td (Impact) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 414.40 620.68 Td (Constant) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 413.60 612.68 Td (Currency) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 416.85 604.73 Td (Change) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 462.25 614.83 Td (Acquisitions/) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 464.10 606.83 Td (Divestitures) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 524.00 614.83 Td (Organic) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 524.85 606.83 Td (Change) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 189.00 606.83 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 257.00 606.83 Td (2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 210.40 593.83 Td (\(in millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 579.27 Td (Commissions and fees) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.00 579.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 202.15 579.27 Td (2,502) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 237.00 579.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.15 579.27 Td (2,301) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.30 579.27 Td (9%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.50 579.27 Td (\(3\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.80 579.27 Td (12%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.30 579.27 Td (12%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.80 579.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 564.27 Td (Interest and other income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.65 564.27 Td (29) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.65 564.27 Td (17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 549.27 Td (Total segment revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.00 549.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 202.15 549.27 Td (2,531) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 237.00 549.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.15 549.27 Td (2,318) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 524.10 Td (CRB total segment and commissions and fees revenues for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.72 524.10 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.31 524.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.81 524.10 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.39 524.10 Td ( were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.82 524.10 Td ($2.5 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.93 524.10 Td (, compared to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 512.10 Td (pro forma ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 92.21 512.10 Td ($2.3 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 138.32 512.10 Td ( for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.70 512.10 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 213.28 512.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 215.78 512.10 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.37 512.10 Td (. ) Tj ET Q q 0 0 0 rg BT 299.18 512.10 Td (The growth for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.94 512.10 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.52 512.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.02 512.10 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.61 512.10 Td ( was due to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 500.10 Td (acquisition of Gras Savoye, which occurred on December 29, 2015. Great Britain led or) Tj ET Q q 0 0 0 rg BT 401.38 500.10 Td (ganic growth with solid revenue ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 488.10 Td (increases across all lines of business. ) Tj ET Q q 0 0 0 rg BT 202.56 488.10 Td (W) Tj ET Q q 0 0 0 rg BT 211.20 488.10 Td (estern Europe contributed to or) Tj ET Q q 0 0 0 rg BT 335.42 488.10 Td (ganic growth with strong revenue gains in Iberia, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 476.10 Td (partially of) Tj ET Q q 0 0 0 rg BT 93.97 476.10 Td (fset by softness in Italy) Tj ET Q q 0 0 0 rg BT 186.08 476.10 Td (. North ) Tj ET Q q 0 0 0 rg BT 218.86 476.10 Td (America was flat with strong retention of) Tj ET Q q 0 0 0 rg BT 383.63 476.10 Td (fset by lower new business. Of) Tj ET Q q 0 0 0 rg BT 509.26 476.10 Td (fsetting the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 464.10 Td (growth in Great Britain and ) Tj ET Q q 0 0 0 rg BT 162.85 464.10 Td (W) Tj ET Q q 0 0 0 rg BT 171.48 464.10 Td (estern Europe, International or) Tj ET Q q 0 0 0 rg BT 293.48 464.10 Td (ganic revenue declined as a result of lower revenues in ) Tj ET Q q 0 0 0 rg BT 514.50 464.10 Td (Asia and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 452.10 Td (Australasia, partially of) Tj ET Q q 0 0 0 rg BT 143.96 452.10 Td (fset by better performance in Latin ) Tj ET Q q 0 0 0 rg BT 285.01 452.10 Td (America and CEEMEA.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.48 452.10 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 431.10 Td (Investment, Risk and Reinsurance) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 191.69 431.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 410.10 Td (The following table sets out the components of IRR revenues for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.60 410.10 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.19 410.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.69 410.10 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.27 410.10 Td ( and pro forma revenues ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 398.10 Td (for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.88 398.10 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.46 398.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 124.96 398.10 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 203.54 398.10 Td (, and the components of the change in commissions and fees for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.81 398.10 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.39 398.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 386.10 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.58 386.10 Td (.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 322.60 110.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 160.50 322.60 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 166.50 322.60 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 228.50 322.60 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 234.50 322.60 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 296.50 322.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 322.60 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.50 322.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 354.50 322.60 47.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.50 322.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 406.50 322.60 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 454.50 322.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 322.60 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.50 322.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 514.50 322.60 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 292.60 110.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 160.50 292.60 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 166.50 292.60 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 228.50 292.60 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 234.50 292.60 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 296.50 292.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 292.60 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.50 292.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 354.50 292.60 47.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.50 292.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 406.50 292.60 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 454.50 292.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 292.60 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.50 292.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 514.50 292.60 48.00 -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 166.5 362.6 m 228.5 362.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 228.5 362.6 m 234.5 362.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 234.5 362.6 m 296.5 362.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 354.5 362.6 m 401.5 362.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 401.5 362.6 m 406.5 362.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 362.6 m 454.5 362.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 454.5 362.6 m 459.5 362.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 362.6 m 510.5 362.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510.5 362.6 m 514.5 362.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514.5 362.6 m 562.5 362.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 362.6 m 349.5 362.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 166.5 336.6 m 228.5 336.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 234.5 336.6 m 296.5 336.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 336.6 m 349.5 336.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 354.5 336.6 m 401.5 336.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 336.6 m 454.5 336.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 336.6 m 510.5 336.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514.5 336.6 m 562.5 336.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 166.5 336.6 m 228.5 336.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 234.5 336.6 m 296.5 336.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 336.6 m 349.5 336.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 166.5 292.6 m 228.5 292.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 166.5 278.6 m 228.5 278.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 166.5 276.6 m 228.5 276.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 234.5 292.6 m 296.5 292.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 234.5 278.6 m 296.5 278.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 234.5 276.6 m 296.5 276.6 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 185.95 366.83 Td (Years ended December 31,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 417.95 366.83 Td (Components of Change) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 246.30 353.83 Td (Pro Forma) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 306.30 348.83 Td (Pro Forma) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 311.85 340.83 Td (Change) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 361.10 348.83 Td (Currency) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 365.25 340.83 Td (Impact) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 414.40 354.68 Td (Constant) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 413.60 346.68 Td (Currency) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 416.85 338.73 Td (Change) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 462.25 348.83 Td (Acquisitions/) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 464.10 340.83 Td (Divestitures) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 524.00 348.83 Td (Organic) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 524.85 340.83 Td (Change) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 189.00 340.83 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 257.00 340.83 Td (2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 210.40 326.83 Td (\(in millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 312.27 Td (Commissions and fees) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.00 312.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 202.15 312.27 Td (1,382) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 237.00 312.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.15 312.27 Td (1,399) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.00 312.27 Td (\(1\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.50 312.27 Td (\(3\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.30 312.27 Td (2%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.80 312.27 Td (6%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.00 312.27 Td (\(4\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 297.27 Td (Interest and other income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.65 297.27 Td (59) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.65 297.27 Td (12) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 282.27 Td (Total segment revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.00 282.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 202.15 282.27 Td (1,441) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 237.00 282.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.15 282.27 Td (1,411) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 257.10 Td (IRR total segment revenues for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 192.18 257.10 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 235.77 257.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.27 257.10 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.85 257.10 Td ( and pro forma for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.37 257.10 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.96 257.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.46 257.10 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.04 257.10 Td ( were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 245.10 Td ($1.4 billion. Included in total segment revenues for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 271.89 245.10 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.47 245.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.97 245.10 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.56 245.10 Td ( is a previously disclosed settlement with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 233.10 Td (JL) Tj ET Q q 0 0 0 rg BT 59.08 233.10 Td (T) Tj ET Q q 0 0 0 rg BT 65.01 233.10 Td ( of 28 million \($41 million\) related to the Fine ) Tj ET Q q 0 0 0 rg BT 257.21 233.10 Td (Art, Jewellery and Specie team. Commissions and fees for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.25 233.10 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 551.84 233.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 221.10 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.58 221.10 Td ( and pro forma for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 219.11 221.10 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 262.69 221.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 265.19 221.10 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.77 221.10 Td ( were $1.4 billion, representing a decrease of $17 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 209.10 Td (million. ) Tj ET Q q 0 0 0 rg BT 83.71 209.10 Td (The or) Tj ET Q q 0 0 0 rg BT 109.91 209.10 Td (ganic decline was primarily related to the following factors: soft market conditions and renewal factors ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 197.10 Td (impacting our Reinsurance and Portfolio and Underwriting Services businesses, particularly in North ) Tj ET Q q 0 0 0 rg BT 456.30 197.10 Td (America; a decline in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 185.10 Td (overall insurance industry M&A) Tj ET Q q 0 0 0 rg BT 179.70 185.10 Td ( activity impacting our Capital Markets & ) Tj ET Q q 0 0 0 rg BT 349.38 185.10 Td (Advisory business after a record year in 2015; and a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 173.10 Td (decline arising from lower demand in risk consulting projects.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.55 173.10 Td ( ) Tj ET Q endstream endobj 107 0 obj <> endobj 108 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (53) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (Exchange Solutions) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 133.08 742.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 721.25 Td (The following table sets out the components of ES revenues for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.60 721.25 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.19 721.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.69 721.25 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.27 721.25 Td ( and pro forma revenues for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 709.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.72 709.25 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.30 709.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 110.80 709.25 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 189.38 709.25 Td (, and the components of the change in commissions and fees for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.65 709.25 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.23 709.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 697.25 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.58 697.25 Td (.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 634.75 110.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 160.50 634.75 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 166.50 634.75 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 228.50 634.75 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 234.50 634.75 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 296.50 634.75 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 634.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.50 634.75 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 354.50 634.75 47.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.50 634.75 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 406.50 634.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 454.50 634.75 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 634.75 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.50 634.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 514.50 634.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 604.75 110.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 160.50 604.75 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 166.50 604.75 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 228.50 604.75 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 234.50 604.75 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 296.50 604.75 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 604.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.50 604.75 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 354.50 604.75 47.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.50 604.75 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 406.50 604.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 454.50 604.75 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 604.75 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.50 604.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 514.50 604.75 48.00 -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 166.5 673.75 m 228.5 673.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 228.5 673.75 m 234.5 673.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 234.5 673.75 m 296.5 673.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 354.5 673.75 m 401.5 673.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 401.5 673.75 m 406.5 673.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 673.75 m 454.5 673.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 454.5 673.75 m 459.5 673.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 673.75 m 510.5 673.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510.5 673.75 m 514.5 673.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514.5 673.75 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 301.5 673.75 m 349.5 673.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 166.5 647.75 m 228.5 647.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 234.5 647.75 m 296.5 647.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 647.75 m 349.5 647.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 354.5 647.75 m 401.5 647.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 647.75 m 454.5 647.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 647.75 m 510.5 647.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514.5 647.75 m 562.5 647.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 166.5 604.75 m 228.5 604.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 166.5 590.75 m 228.5 590.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 166.5 588.75 m 228.5 588.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 234.5 604.75 m 296.5 604.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 234.5 590.75 m 296.5 590.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 234.5 588.75 m 296.5 588.75 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 185.95 677.98 Td (Years ended December 31,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 417.95 677.98 Td (Components of Change) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 246.30 664.98 Td (Pro Forma) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 306.30 659.98 Td (Pro Forma) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 311.85 651.98 Td (Change) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 361.10 659.98 Td (Currency) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 365.25 651.98 Td (Impact) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 414.40 665.83 Td (Constant) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 413.60 657.83 Td (Currency) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 416.85 649.88 Td (Change) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 462.25 659.98 Td (Acquisitions/) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 464.10 651.98 Td (Divestitures) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 524.00 659.98 Td (Organic) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 524.85 651.98 Td (Change) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 189.00 651.98 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 257.00 651.98 Td (2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 210.40 638.98 Td (\(in millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 624.42 Td (Commissions and fees) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.00 624.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 209.65 624.42 Td (652) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 237.00 624.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 277.65 624.42 Td (484) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.80 624.42 Td (35%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.30 624.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.80 624.42 Td (35%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.80 624.42 Td (2%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.80 624.42 Td (33%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 609.42 Td (Interest and other income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 219.65 609.42 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 609.42 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 594.42 Td (Total segment revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.00 594.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 209.65 594.42 Td (654) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 237.00 594.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 277.65 594.42 Td (487) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 569.25 Td (ES total segment revenues for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 187.18 569.25 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 230.77 569.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 233.27 569.25 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.85 569.25 Td ( were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.28 569.25 Td ($654 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.67 569.25 Td (, compared to pro forma ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.08 569.25 Td ($487 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.47 569.25 Td ( for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 557.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.72 557.25 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.30 557.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 110.80 557.25 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 189.38 557.25 Td (; and commissions and fees for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.74 557.25 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.33 557.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.83 557.25 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.41 557.25 Td ( were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.84 557.25 Td ($652 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.23 557.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 545.25 Td (compared to pro forma ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 144.41 545.25 Td ($484 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 195.80 545.25 Td ( for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 227.18 545.25 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.76 545.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.26 545.25 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.85 545.25 Td (. Retiree and ) Tj ET Q q 0 0 0 rg BT 404.60 545.25 Td (Access Exchanges commissions and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 533.25 Td (fees increased by 41%, primarily as a result of the record 2016 annual enrollment season. ) Tj ET Q q 0 0 0 rg BT 409.42 533.25 Td (The rest of the segment commissions ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 521.25 Td (and fees increased by 27%, primarily due to ) Tj ET Q q 0 0 0 rg BT 228.37 521.25 Td (T) Tj ET Q q 0 0 0 rg BT 233.78 521.25 Td (echnology and ) Tj ET Q q 0 0 0 rg BT 294.32 521.25 Td (Administration Solutions adding new clients and experiencing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 509.25 Td (higher project activity) Tj ET Q q 0 0 0 rg BT 137.65 509.25 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.65 509.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 488.25 Td (ES revenue growth is expected to slow to around 10% in 2017 due to the stabilization of the retiree enrollments. ) Tj ET Q q 0 0 0 rg BT 503.59 488.25 Td (W) Tj ET Q q 0 0 0 rg BT 512.23 488.25 Td (e continue ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 476.25 Td (to expect the active exchange growth to be strong.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 250.76 476.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 455.25 Td (Restructuring ) Tj ET Q q 0 0 0 rg BT 112.49 455.25 Td (Pr) Tj ET Q q 0 0 0 rg BT 122.86 455.25 Td (ograms) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 434.25 Td (Operational ) Tj ET Q q 0 0 0 rg BT 101.95 434.25 Td (Improvement ) Tj ET Q q 0 0 0 rg BT 159.44 434.25 Td (Program) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 196.11 434.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 413.25 Td (In ) Tj ET Q q 0 0 0 rg BT 60.28 413.25 Td (April 2014, Legacy ) Tj ET Q q 0 0 0 rg BT 140.63 413.25 Td (W) Tj ET Q q 0 0 0 rg BT 149.67 413.25 Td (illis announced an operational improvement program that would allow it to continue to strengthen its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 401.25 Td (client service, realize operational ef) Tj ET Q q 0 0 0 rg BT 192.24 401.25 Td (ficiencies, and invest in new capabilities for growth. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.84 401.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 380.25 Td (The primary elements of the program include: moving more than 3,500 support roles from higher cost locations to facilities in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 368.25 Td (lower cost locations; net workforce reductions in support positions; lease consolidation in real estate; and information ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 356.25 Td (technology systems simplification and rationalization. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.84 356.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 335.25 Td (The program began in the second quarter of 2014 and will be completed by the end of 2017. ) Tj ET Q q 0 0 0 rg BT 421.10 335.25 Td (W) Tj ET Q q 0 0 0 rg BT 429.74 335.25 Td (e are expecting to deliver $325 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 323.25 Td (million of annual cost savings beginning in 2018. ) Tj ET Q q 0 0 0 rg BT 250.08 323.25 Td (T) Tj ET Q q 0 0 0 rg BT 255.49 323.25 Td (o achieve these savings, the Company expects to incur $130 million in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 311.25 Td (restructuring char) Tj ET Q q 0 0 0 rg BT 120.62 311.25 Td (ges in 2017, bringing the cumulative restructuring char) Tj ET Q q 0 0 0 rg BT 340.38 311.25 Td (ges to approximately $440 million through the end of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 299.25 Td (2017.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.50 299.25 Td ( ) Tj ET Q endstream endobj 109 0 obj <> endobj 110 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (54) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 742.10 Td (otal spend, actual savings, and timing may vary positively or negatively from these estimates due to changes in the scope, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (underlying assumptions, or execution risk of the restructuring plan throughout its duration. Restructuring costs related to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (OIP) Tj ET Q q 0 0 0 rg BT 65.74 718.10 Td ( for the years ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 147.09 718.10 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.68 718.10 Td ( and 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 265.12 718.10 Td ( by segment are as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 677.60 144.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 194.50 677.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 252.50 677.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.50 677.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 677.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 677.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 677.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 677.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 677.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 677.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 677.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 677.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 647.60 144.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 194.50 647.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 252.50 647.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.50 647.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 647.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 647.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 647.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 647.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 647.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 647.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 647.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 647.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 617.60 144.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 194.50 617.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 252.50 617.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.50 617.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 617.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 617.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 617.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 617.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 617.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 617.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 617.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 617.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 587.60 144.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 194.50 587.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 252.50 587.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.50 587.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 587.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 587.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 587.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 587.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 587.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 587.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 587.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 587.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 557.60 144.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 194.50 557.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 252.50 557.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.50 557.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 557.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 557.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 557.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 557.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 557.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 557.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 557.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 557.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 527.60 144.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 194.50 527.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 252.50 527.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.50 527.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 527.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 527.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 527.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 527.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 527.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 527.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 527.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 527.60 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 194.5 692.6 m 252.5 692.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256.5 692.6 m 314.5 692.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 692.6 m 376.5 692.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 692.6 m 438.5 692.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 692.6 m 500.5 692.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 692.6 m 562.5 692.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 194.5 632.6 m 252.5 632.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256.5 632.6 m 314.5 632.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 632.6 m 376.5 632.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 632.6 m 438.5 632.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 632.6 m 500.5 632.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 632.6 m 562.5 632.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 194.5 618.6 m 252.5 618.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 194.5 616.6 m 252.5 616.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256.5 618.6 m 314.5 618.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256.5 616.6 m 314.5 616.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 618.6 m 376.5 618.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 616.6 m 376.5 616.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 618.6 m 438.5 618.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 616.6 m 438.5 616.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 618.6 m 500.5 618.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 616.6 m 500.5 616.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 618.6 m 562.5 618.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 616.6 m 562.5 616.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 194.5 572.6 m 252.5 572.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 194.5 558.6 m 252.5 558.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 194.5 556.6 m 252.5 556.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256.5 572.6 m 314.5 572.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256.5 558.6 m 314.5 558.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256.5 556.6 m 314.5 556.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 572.6 m 376.5 572.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 558.6 m 376.5 558.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 556.6 m 376.5 556.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 572.6 m 438.5 572.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 558.6 m 438.5 558.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 556.6 m 438.5 556.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 572.6 m 500.5 572.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 558.6 m 500.5 558.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 556.6 m 500.5 556.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 572.6 m 562.5 572.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 558.6 m 562.5 558.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 556.6 m 562.5 556.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 194.5 512.6 m 252.5 512.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256.5 512.6 m 314.5 512.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 512.6 m 376.5 512.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 512.6 m 438.5 512.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 512.6 m 500.5 512.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 512.6 m 562.5 512.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 194.5 498.6 m 252.5 498.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 194.5 496.6 m 252.5 496.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256.5 498.6 m 314.5 498.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256.5 496.6 m 314.5 496.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 498.6 m 376.5 498.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 496.6 m 376.5 496.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 498.6 m 438.5 498.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 496.6 m 438.5 496.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 498.6 m 500.5 498.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 496.6 m 500.5 496.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 498.6 m 562.5 498.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 496.6 m 562.5 496.6 l s BT /F2 9.00 Tf ET q 0 0 0 rg BT 213.20 697.05 Td (HCB) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 275.45 697.05 Td (CRB) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 338.70 697.05 Td (IRR) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 403.45 697.05 Td (ES) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 451.00 697.05 Td (Corporate) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 523.15 697.05 Td (Total) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 354.85 682.05 Td (\(in millions\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 53.00 667.05 Td (2016) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 652.06 Td (Termination benefits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 197.00 652.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.65 652.27 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.00 652.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.65 652.27 Td (18) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.00 652.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.65 652.27 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 652.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 652.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 652.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.65 652.27 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 652.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 652.27 Td (23) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 637.06 Td (Professional services and other ) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 172.97 641.14 Td (\(i\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.65 637.27 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.65 637.27 Td (81) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.65 637.27 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 637.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 637.27 Td (36) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 637.27 Td (122) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 622.06 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 197.00 622.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.65 622.27 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.00 622.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.65 622.27 Td (99) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.00 622.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.65 622.27 Td (7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 622.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 622.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 622.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 622.27 Td (37) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 622.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 622.27 Td (145) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 53.00 607.05 Td (2015) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 592.06 Td (Termination benefits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 197.00 592.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.65 592.27 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.00 592.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.65 592.27 Td (24) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.00 592.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.65 592.27 Td (7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 592.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 592.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 592.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.65 592.27 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 592.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 592.27 Td (36) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 577.06 Td (Professional services and other ) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 172.97 581.14 Td (\(i\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.65 577.27 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.65 577.27 Td (57) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.65 577.27 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 577.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 577.27 Td (30) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 577.27 Td (90) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 562.06 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 197.00 562.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.65 562.27 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.00 562.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.65 562.27 Td (81) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.00 562.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.65 562.27 Td (9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 562.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 562.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 562.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 562.27 Td (33) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 562.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 562.27 Td (126) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 53.00 547.05 Td (2014) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 532.06 Td (Termination benefits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 197.00 532.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.65 532.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.00 532.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.65 532.27 Td (15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.00 532.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.65 532.27 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 532.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 532.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 532.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 532.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 532.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 532.27 Td (16) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 517.06 Td (Professional services and other) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 170.72 521.14 Td ( \(i\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.65 517.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.65 517.27 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.65 517.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 517.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 517.27 Td (17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 517.27 Td (20) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 502.06 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 197.00 502.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.65 502.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.00 502.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.65 502.27 Td (18) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.00 502.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.65 502.27 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 502.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 502.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 502.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 502.27 Td (17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 502.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 502.27 Td (36) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 486.10 Td (____________________) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 467.50 Td (\(i\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 81.50 467.50 Td (Other includes salary and benefits, premises, and other expenses incurred to support the ongoing management and facilitation of the programs.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 538.25 467.50 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 446.50 Td (Business ) Tj ET Q q 0 0 0 rg BT 89.18 446.50 Td (Restructuring ) Tj ET Q q 0 0 0 rg BT 148.93 446.50 Td (Program) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 185.60 446.50 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 425.50 Td (In the second quarter of 2016, we began planning tar) Tj ET Q q 0 0 0 rg BT 260.86 425.50 Td (geted staf) Tj ET Q q 0 0 0 rg BT 299.27 425.50 Td (fing reductions in certain portions of the business due to a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 413.50 Td (reduction in business demand or change in business focus \(hereinafter referred to as the Business Restructure Program, or the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 401.50 Td (BRP\). ) Tj ET Q q 0 0 0 rg BT 86.21 401.50 Td (The main element of the program is the workforce reduction of approximately 450 positions across all segments, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 389.50 Td (resulting in annualized savings of approximately $80 million. ) Tj ET Q q 0 0 0 rg BT 298.38 389.50 Td (The program was complete as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.67 389.50 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.25 389.50 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.75 389.50 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 368.50 Td (Restructuring costs related to the BRP) Tj ET Q q 0 0 0 rg BT 202.66 368.50 Td ( for the year ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 280.12 368.50 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.71 368.50 Td ( by segment are as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 328.00 144.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 194.50 328.00 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 252.50 328.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.50 328.00 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 328.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 328.00 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 328.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 328.00 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 328.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 328.00 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 328.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 328.00 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 298.00 144.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 194.50 298.00 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 252.50 298.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.50 298.00 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 298.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 298.00 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 298.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 298.00 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 298.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 298.00 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 298.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 298.00 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 194.5 343 m 252.5 343 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256.5 343 m 314.5 343 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 343 m 376.5 343 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 343 m 438.5 343 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 343 m 500.5 343 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 343 m 562.5 343 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 194.5 298 m 252.5 298 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256.5 298 m 314.5 298 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 298 m 376.5 298 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 298 m 438.5 298 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 298 m 500.5 298 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 298 m 562.5 298 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 194.5 284 m 252.5 284 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 194.5 282 m 252.5 282 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256.5 284 m 314.5 284 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256.5 282 m 314.5 282 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 284 m 376.5 284 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 282 m 376.5 282 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 284 m 438.5 284 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 282 m 438.5 282 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 284 m 500.5 284 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 282 m 500.5 282 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 284 m 562.5 284 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 282 m 562.5 282 l s BT /F2 9.00 Tf ET q 0 0 0 rg BT 213.20 347.45 Td (HCB) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 275.45 347.45 Td (CRB) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 338.70 347.45 Td (IRR) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 403.45 347.45 Td (ES) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 451.00 347.45 Td (Corporate) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 523.15 347.45 Td (Total) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 354.85 332.45 Td (\(in millions\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 317.46 Td (T) Tj ET Q q 0 0 0 rg BT 63.87 317.46 Td (ermination benefits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 197.00 317.67 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.65 317.67 Td (32) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.00 317.67 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.65 317.67 Td (8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.00 317.67 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.65 317.67 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 317.67 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.65 317.67 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 317.67 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.65 317.67 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 317.67 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 317.67 Td (45) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 302.67 Td (Professional services and other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.65 302.67 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.65 302.67 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.65 302.67 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 302.67 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 302.67 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 302.67 Td (3) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 287.46 Td (T) Tj ET Q q 0 0 0 rg BT 63.87 287.46 Td (otal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 197.00 287.67 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.65 287.67 Td (35) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.00 287.67 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.65 287.67 Td (8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.00 287.67 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.65 287.67 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 287.67 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.65 287.67 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 287.67 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.65 287.67 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 287.67 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 287.67 Td (48) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 262.50 Td (Liquidity and Capital Resour) Tj ET Q q 0 0 0 rg BT 175.68 262.50 Td (ces) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 188.45 262.50 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 241.50 Td (Executive Summary) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 133.05 241.50 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 220.50 Td (Our principal sources of liquidity are funds generated by operating activities, available cash and cash equivalents and amounts ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 208.50 Td (available under revolving credit facilities. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 219.38 208.50 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 187.50 Td (Based on our balance sheets, combined cash flows, current market conditions and information available to us at this time, we ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 175.50 Td (believe that ) Tj ET Q q 0 0 0 rg BT 98.69 175.50 Td (W) Tj ET Q q 0 0 0 rg BT 107.72 175.50 Td (illis ) Tj ET Q q 0 0 0 rg BT 125.05 175.50 Td (T) Tj ET Q q 0 0 0 rg BT 130.46 175.50 Td (owers ) Tj ET Q q 0 0 0 rg BT 156.66 175.50 Td (W) Tj ET Q q 0 0 0 rg BT 165.30 175.50 Td (atson has suf) Tj ET Q q 0 0 0 rg BT 216.78 175.50 Td (ficient liquidity) Tj ET Q q 0 0 0 rg BT 278.06 175.50 Td (, which includes our undrawn revolving credit facilities, to meet our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 163.50 Td (cash needs for the next twelve months, including investing in the business for growth, creating value through the integration of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 151.50 Td (W) Tj ET Q q 0 0 0 rg BT 59.04 151.50 Td (illis, ) Tj ET Q q 0 0 0 rg BT 78.86 151.50 Td (T) Tj ET Q q 0 0 0 rg BT 84.27 151.50 Td (owers ) Tj ET Q q 0 0 0 rg BT 110.47 151.50 Td (W) Tj ET Q q 0 0 0 rg BT 119.11 151.50 Td (atson and Gras Savoye, scheduled debt repayments, dividend payments, and contemplated share repurchases, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 139.50 Td (subject to market conditions and other factors.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 235.22 139.50 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 118.50 Td (Historically) Tj ET Q q 0 0 0 rg BT 96.56 118.50 Td (, we have not provided deferred taxes on cumulative earnings of our subsidiaries that have been reinvested ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 106.50 Td (indefinitely) Tj ET Q q 0 0 0 rg BT 95.45 106.50 Td (. ) Tj ET Q q 0 0 0 rg BT 102.40 106.50 Td (As a result of the Mer) Tj ET Q q 0 0 0 rg BT 189.69 106.50 Td (ger and our plan to restructure certain foreign operations or distribute accumulated earnings ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 94.50 Td (of certain acquired ) Tj ET Q q 0 0 0 rg BT 127.28 94.50 Td (T) Tj ET Q q 0 0 0 rg BT 132.69 94.50 Td (owers ) Tj ET Q q 0 0 0 rg BT 158.89 94.50 Td (W) Tj ET Q q 0 0 0 rg BT 167.52 94.50 Td (atson subsidiaries, we recorded a deferred tax liability through goodwill.) Tj ET Q q 0 0 0 rg BT 460.04 94.50 Td (W) Tj ET Q q 0 0 0 rg BT 468.68 94.50 Td (e continue to assert ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 82.50 Td (that the cumulative earnings of our other subsidiaries are reinvested indefinitely and we do not provide deferred tax liabilities ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 70.50 Td (on these amounts. ) Tj ET Q q 0 0 0 rg BT 124.25 70.50 Td (The Company has no current plans and does not anticipate repatriating cash other than for certain foreign ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 58.50 Td (subsidiaries. If future events, including material changes in estimates of cash, working capital, long-term investment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 46.50 Td (requirements or U.S. tax reform necessitate that these earnings be distributed, an additional provision for income and foreign ) Tj ET Q endstream endobj 111 0 obj <> endobj 112 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (55) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (withholding taxes, net of credits, may be necessary) Tj ET Q q 0 0 0 rg BT 253.46 742.10 Td (. One of the potential sources of cash may be through settlement of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (intercompany loans or return of capital distributions in a tax ef) Tj ET Q q 0 0 0 rg BT 300.30 730.10 Td (ficient manner) Tj ET Q q 0 0 0 rg BT 357.78 730.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.28 730.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 709.10 Td (Events that could change the historical cash flow dynamics discussed above include significant changes in operating results, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 697.10 Td (potential future acquisitions or divestitures, material changes in geographic sources of cash, unexpected adverse impacts from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 685.10 Td (litigation or future pension funding during periods of severe downturn in the capital markets.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.58 685.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 664.10 Td (During the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.55 664.10 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 139.13 664.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 141.63 664.10 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 220.21 664.10 Td (, the Company restructured some of its debt financing in March and May 2016. ) Tj ET Q q 0 0 0 rg BT 539.40 664.10 Td (W) Tj ET Q q 0 0 0 rg BT 548.04 664.10 Td (e ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 652.10 Td (issued \(i\) $1.0 billion of senior notes \($450 million due 2021 and $550 million due 2026\) to: refinance the $300 million senior ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 640.10 Td (notes due 2016; refinance $400 million of debt assumed as part of the Mer) Tj ET Q q 0 0 0 rg BT 347.80 640.10 Td (ger; and make further repayment on the revolving ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 628.10 Td (credit facility) Tj ET Q q 0 0 0 rg BT 102.93 628.10 Td (, and \(ii\) 540 million \($609 million\) of senior notes to repay ) Tj ET Q q 0 0 0 rg BT 350.21 628.10 Td (T) Tj ET Q q 0 0 0 rg BT 355.97 628.10 Td (ranche ) Tj ET Q q 0 0 0 rg BT 384.57 628.10 Td (A) Tj ET Q q 0 0 0 rg BT 391.24 628.10 Td ( of the 1-year term loan that was used to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 616.10 Td (finance the acquisition of Gras Savoye.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 207.17 616.10 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 595.10 Td (Cash and Short-term Investments) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 188.64 595.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (Our cash and cash equivalents at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 183.29 574.10 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.87 574.10 Td ( totaled ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.08 574.10 Td ($870 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.47 574.10 Td (, compared to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.68 574.10 Td ($532 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.07 574.10 Td ( at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.28 574.10 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.87 574.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (The increase in cash from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 155.79 562.10 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 234.37 562.10 Td ( to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 247.15 562.10 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 325.73 562.10 Td ( was primarily due to cash acquired in the Mer) Tj ET Q q 0 0 0 rg BT 511.88 562.10 Td (ger with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 550.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 81.61 550.10 Td (W) Tj ET Q q 0 0 0 rg BT 90.25 550.10 Td (atson.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 113.86 550.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 529.10 Td (Additionally) Tj ET Q q 0 0 0 rg BT 99.90 529.10 Td (, $557 million was available to draw under our $800 million revolving credit facility) Tj ET Q q 0 0 0 rg BT 436.95 529.10 Td (, compared with $333 million ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 517.10 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.72 517.10 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 138.30 517.10 Td (, and $420 million was available to draw for regulatory capital purposes related to securities ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 505.10 Td (underwriting.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.16 505.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 484.10 Td (Included within cash and cash equivalents at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 230.78 484.10 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.36 484.10 Td ( are amounts held for regulatory capital adequacy ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 472.10 Td (requirements, including $87 million held within our regulated U.K. entities for regulatory capital adequacy requirements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.86 472.10 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 451.10 Td (Summarized Consolidated Cash Flows) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 209.21 451.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (The following table presents the summarized consolidated cash flow information for the years ended:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.71 430.10 Td ( ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 378.60 330.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 378.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 378.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 378.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 378.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 378.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 348.60 330.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 348.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 348.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 348.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 348.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 348.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 318.60 330.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 318.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 318.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 318.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 318.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 318.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 288.60 330.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 288.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 288.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 288.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 288.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 288.60 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 380.5 406.6 m 438.5 406.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 406.6 m 442.5 406.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 406.6 m 500.5 406.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500.5 406.6 m 504.5 406.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 406.6 m 562.5 406.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 391.6 m 438.5 391.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 391.6 m 500.5 391.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 391.6 m 562.5 391.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 318.6 m 438.5 318.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 318.6 m 500.5 318.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 318.6 m 562.5 318.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 318.6 m 438.5 318.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 318.6 m 500.5 318.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 318.6 m 562.5 318.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 273.6 m 438.5 273.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 273.6 m 500.5 273.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 273.6 m 562.5 273.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 259.6 m 438.5 259.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 257.6 m 438.5 257.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 259.6 m 500.5 259.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 257.6 m 500.5 257.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 259.6 m 562.5 259.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 257.6 m 562.5 257.6 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 425.95 410.83 Td (Years ended December 31,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 401.00 395.83 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 463.00 395.83 Td (2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 525.00 395.83 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 450.40 382.83 Td (\(in millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 368.27 Td (Net cash from/\(used in\):) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 353.27 Td ( Operating activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 353.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 353.27 Td (920) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 353.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 353.27 Td (243) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 353.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 353.27 Td (477) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 338.27 Td ( Investing activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 338.27 Td (195) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.30 338.32 Td (\(943) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 338.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 338.32 Td (\(276) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 338.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 323.27 Td ( Financing activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.30 323.32 Td (\(762) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 323.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 323.27 Td (641) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 323.32 Td (\(323) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 323.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 308.27 Td (INCREASE/\(DECREASE\) IN CASH AND CASH EQUIVALENTS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 308.27 Td (353) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.30 308.32 Td (\(59) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 308.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 308.32 Td (\(122) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 308.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 293.27 Td (Effect of exchange rate changes on cash and cash equivalents) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.30 293.32 Td (\(15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 293.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.30 293.32 Td (\(44) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 293.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 293.32 Td (\(39) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 293.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 278.27 Td (CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 278.27 Td (532) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 278.27 Td (635) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 278.27 Td (796) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 263.27 Td (CASH AND CASH EQUIVALENTS, END OF PERIOD) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 263.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 263.27 Td (870) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 263.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 263.27 Td (532) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 263.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 263.27 Td (635) Tj ET Q BT /F1 10.00 Tf ET BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 238.10 Td (Cash Flows from Operating ) Tj ET Q q 0 0 0 rg BT 167.43 238.10 Td (Activities) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 205.20 238.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 217.10 Td (Cash flows ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.22 217.10 Td (from) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 116.66 217.10 Td ( operating activities were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 219.95 217.10 Td ($920 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 271.34 217.10 Td ( for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.00 217.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.00 217.10 Td (, compared to cash flows ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.20 217.10 Td (from) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.63 217.10 Td ( operating activities of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.83 217.10 Td ($243 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 205.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.89 205.10 Td ( for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.55 205.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 115.55 205.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.87 205.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 140.92 205.10 Td ($920 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 192.31 205.10 Td ( net cash from operating activities for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.76 205.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.76 205.10 Td ( included net income of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.67 205.10 Td ($438 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.06 205.10 Td (, adjusted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 193.10 Td (for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.16 193.10 Td ($590 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 115.55 193.10 Td ( of non-cash adjustments, partially of) Tj ET Q q 0 0 0 rg BT 264.22 193.10 Td (fset by changes in operating assets and liabilities of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.23 193.10 Td ($108 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.62 193.10 Td (. ) Tj ET Q q 0 0 0 rg BT 528.44 193.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 181.10 Td ($590 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 101.39 181.10 Td ( non-cash adjustments primarily include depreciation, amortization, net defined benefit pension credits, share-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 169.10 Td (based compensation, and the benefit from deferred income taxes. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.77 169.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.82 169.10 Td ($677 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.21 169.10 Td ( increase in cash from operations in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.88 169.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.88 169.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 157.10 Td (compared to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 102.20 157.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.20 157.10 Td ( was primarily due to cash from operations from Legacy ) Tj ET Q q 0 0 0 rg BT 349.73 157.10 Td (T) Tj ET Q q 0 0 0 rg BT 355.14 157.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 381.34 157.10 Td (W) Tj ET Q q 0 0 0 rg BT 389.98 157.10 Td (atson and Gras Savoye.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.84 157.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 136.10 Td (Cash flows from operating activities for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 212.18 136.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.18 136.10 Td ( was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 252.73 136.10 Td ($243 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.13 136.10 Td (, which included net income of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.48 136.10 Td ($384 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.87 136.10 Td (, adjusted for $38 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 124.10 Td (million of non-cash adjustments to reconcile net income to cash used in operating activities, of) Tj ET Q q 0 0 0 rg BT 428.33 124.10 Td (fset by changes in operating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 112.10 Td (assets and liabilities of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 143.32 112.10 Td ($179 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 194.71 112.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 199.71 112.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 91.10 Td (Cash flows from operating activities for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 212.18 91.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.18 91.10 Td ( was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 252.73 91.10 Td ($477 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.13 91.10 Td (, which included net income of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.48 91.10 Td ($373 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.87 91.10 Td (, adjusted for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.86 91.10 Td ($257 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 79.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.89 79.10 Td ( of non-cash adjustments to reconcile net income to cash used in operating activities, of) Tj ET Q q 0 0 0 rg BT 428.33 79.10 Td (fset by changes in operating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 67.10 Td (assets and liabilities of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 143.32 67.10 Td ($153 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 194.71 67.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 199.71 67.10 Td ( ) Tj ET Q endstream endobj 113 0 obj <> endobj 114 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (56) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (Cash Flows From/\(Used In\) Investing ) Tj ET Q q 0 0 0 rg BT 209.38 742.25 Td (Activities) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 247.15 742.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 721.25 Td (Cash flows ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.22 721.25 Td (from) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 116.66 721.25 Td ( investing activities for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 211.08 721.25 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 231.08 721.25 Td ( were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 255.51 721.25 Td ($195 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.90 721.25 Td (, lar) Tj ET Q q 0 0 0 rg BT 322.27 721.25 Td (gely driven by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.53 721.25 Td ($476 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.93 721.25 Td ( of cash acquired as a result of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 709.25 Td (our Mer) Tj ET Q q 0 0 0 rg BT 82.31 709.25 Td (ger with ) Tj ET Q q 0 0 0 rg BT 117.68 709.25 Td (T) Tj ET Q q 0 0 0 rg BT 123.09 709.25 Td (owers ) Tj ET Q q 0 0 0 rg BT 149.29 709.25 Td (W) Tj ET Q q 0 0 0 rg BT 157.92 709.25 Td (atson, which was a non-cash transaction as it was consummated through the issuance of shares. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 697.25 Td (Cash inflows were partially of) Tj ET Q q 0 0 0 rg BT 170.90 697.25 Td (fset by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 200.34 697.25 Td ($303 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 251.73 697.25 Td ( of fixed assets and software for internal use and capitalized costs of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 685.25 Td (developing software.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 133.86 685.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 664.25 Td (Cash flows ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.22 664.25 Td (used in) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 125.83 664.25 Td ( investing activities of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 216.92 664.25 Td ($943 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.32 664.25 Td ( for the year ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.78 664.25 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.36 664.25 Td ( were primarily driven by $857 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 652.25 Td (million used in the acquisitions of operations and $146 million for capital expenditures.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.21 652.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 631.25 Td (Cash flows ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.22 631.25 Td (used in) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 125.83 631.25 Td ( investing activities of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 216.92 631.25 Td ($276 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.32 631.25 Td ( for the year ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.78 631.25 Td (December31, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.36 631.25 Td ( were primarily driven by $245 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 619.25 Td (million used in the acquisitions of operations and $1) Tj ET Q q 0 0 0 rg BT 259.04 619.25 Td (13 million for capital expenditures, partially of) Tj ET Q q 0 0 0 rg BT 446.31 619.25 Td (fset by $86 million of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 607.25 Td (proceeds from the disposal of operations.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.96 607.25 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 586.25 Td (Cash Flows \(Used In\)/From Financing ) Tj ET Q q 0 0 0 rg BT 214.39 586.25 Td (Activities) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 252.16 586.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 565.25 Td (Cash flows ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.22 565.25 Td (used in) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 125.83 565.25 Td ( financing activities for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 221.35 565.25 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 241.35 565.25 Td ( were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 265.78 565.25 Td ($762 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.17 565.25 Td (. ) Tj ET Q q 0 0 0 rg BT 321.99 565.25 Td (The primary drivers during the period were debt issuance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 553.25 Td (of $2.0 billion, debt repayments of $1.9 billion, net payments on the revolving credit facility of $237 million, dividend ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 541.25 Td (payments of $199 million, and share repurchases of $396 million.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.00 541.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 520.25 Td (The debt issuance of $2.0 billion was primarily the issuance of $450 million of senior notes due 2021, $550 million of senior ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 508.25 Td (notes due 2026, 540 million \($609 million\) of senior notes due 2022 and a $400 million drawdown on the 1-year term loan ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 496.25 Td (facility) Tj ET Q q 0 0 0 rg BT 77.67 496.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.17 496.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 475.25 Td (The debt repayments of $1.9 billion were primarily $300 million repayment of senior notes due 2016, $400 million repayment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 463.25 Td (of Legacy ) Tj ET Q q 0 0 0 rg BT 92.57 463.25 Td (T) Tj ET Q q 0 0 0 rg BT 97.98 463.25 Td (owers ) Tj ET Q q 0 0 0 rg BT 124.18 463.25 Td (W) Tj ET Q q 0 0 0 rg BT 132.82 463.25 Td (atson debt and repayments of $592 million and $400 million on the 1-year term loan facility) Tj ET Q q 0 0 0 rg BT 500.70 463.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.20 463.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.25 Td (Net cash provided by financing activities in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 226.89 442.25 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 246.89 442.25 Td ( was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 267.45 442.25 Td ($641 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.84 442.25 Td (, primarily due to $469 million net drawings on the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.25 Td (revolving credit facility) Tj ET Q q 0 0 0 rg BT 143.76 430.25 Td (, a $592 million term loan draw down to fund the acquisition of Gras Savoye, the issuance of shares and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.25 Td (excess tax benefit of $131 million, partially of) Tj ET Q q 0 0 0 rg BT 234.77 418.25 Td (fset by dividends paid of $277 million and repurchase of shares of $82 million.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.82 418.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 397.25 Td (Net cash used in financing activities in 2014 was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.01 397.25 Td ($323 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.40 397.25 Td (, primarily due to dividends paid of $210 million and repurchase ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 385.25 Td (of shares of $213 million, partially of) Tj ET Q q 0 0 0 rg BT 199.51 385.25 Td (fset by proceeds from the issuance of shares and excess tax benefit of $139 million.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.58 385.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 364.25 Td (Indebtedness) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.25 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 346.25 Td (otal debt, total equity) Tj ET Q q 0 0 0 rg BT 139.74 346.25 Td (, and the capitalization ratio at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 263.30 346.25 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.88 346.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.32 346.25 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.91 346.25 Td ( were as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 279.75 392.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 279.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 279.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 279.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 251.75 392.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 251.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 251.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 251.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 223.75 392.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 223.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 223.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 223.75 58.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 321.75 m 500.5 321.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500.5 321.75 m 504.5 321.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 321.75 m 562.5 321.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 307.75 m 500.5 307.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 307.75 m 562.5 307.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 265.75 m 500.5 265.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 265.75 m 562.5 265.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 251.75 m 500.5 251.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 251.75 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 442.5 223.75 m 500.5 223.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 223.75 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 442.5 196.75 m 500.5 196.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 194.75 m 500.5 194.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 196.75 m 562.5 196.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 194.75 m 562.5 194.75 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 478.75 325.98 Td (December 31,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 463.00 311.98 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 525.00 311.98 Td (2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 481.40 297.98 Td (\(in millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 284.32 Td (Long-term debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 284.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.15 284.32 Td (3,357) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 284.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 284.32 Td (2,278) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 270.32 Td (Short-term debt and current portion of long-term debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.65 270.32 Td (508) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.65 270.32 Td (988) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 256.32 Td (Total debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.15 256.32 Td (3,865) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 256.32 Td (3,266) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 228.32 Td (Total Willis Towers Watson shareholders equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 228.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.15 228.32 Td (10,065) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 228.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 228.32 Td (2,229) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 200.32 Td (Capitalization ratio) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.15 200.32 Td (27.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.65 200.32 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 200.32 Td (59.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 200.32 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 175.25 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.50 175.25 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 141.08 175.25 Td (, our material mandatory debt repayments over the next twelve months include $394 million senior notes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 163.25 Td (due 2017, scheduled repayments of $85 million on our term loan maturing in 2019 and scheduled repayments of $22 million on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 151.25 Td (our 7-year term loan.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 134.41 151.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 130.25 Td (On ) Tj ET Q q 0 0 0 rg BT 64.45 130.25 Td (March ) Tj ET Q q 0 0 0 rg BT 92.78 130.25 Td (22, ) Tj ET Q q 0 0 0 rg BT 107.50 130.25 Td (2016, ) Tj ET Q q 0 0 0 rg BT 132.23 130.25 Td (we ) Tj ET Q q 0 0 0 rg BT 146.12 130.25 Td (issued ) Tj ET Q q 0 0 0 rg BT 173.35 130.25 Td ($450 ) Tj ET Q q 0 0 0 rg BT 195.58 130.25 Td (million ) Tj ET Q q 0 0 0 rg BT 226.70 130.25 Td (of ) Tj ET Q q 0 0 0 rg BT 237.25 130.25 Td (3.500% ) Tj ET Q q 0 0 0 rg BT 270.31 130.25 Td (senior ) Tj ET Q q 0 0 0 rg BT 296.98 130.25 Td (notes ) Tj ET Q q 0 0 0 rg BT 320.32 130.25 Td (due ) Tj ET Q q 0 0 0 rg BT 336.98 130.25 Td (2021 ) Tj ET Q q 0 0 0 rg BT 359.21 130.25 Td (and ) Tj ET Q q 0 0 0 rg BT 375.88 130.25 Td ($550 ) Tj ET Q q 0 0 0 rg BT 398.10 130.25 Td (million ) Tj ET Q q 0 0 0 rg BT 429.22 130.25 Td (of ) Tj ET Q q 0 0 0 rg BT 439.78 130.25 Td (4.400% ) Tj ET Q q 0 0 0 rg BT 472.84 130.25 Td (senior ) Tj ET Q q 0 0 0 rg BT 499.51 130.25 Td (notes ) Tj ET Q q 0 0 0 rg BT 522.84 130.25 Td (due ) Tj ET Q q 0 0 0 rg BT 539.51 130.25 Td (2026. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 118.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 118.25 Td (e ) Tj ET Q q 0 0 0 rg BT 65.84 118.25 Td (used ) Tj ET Q q 0 0 0 rg BT 86.94 118.25 Td (the ) Tj ET Q q 0 0 0 rg BT 101.93 118.25 Td (net ) Tj ET Q q 0 0 0 rg BT 116.91 118.25 Td (proceeds ) Tj ET Q q 0 0 0 rg BT 155.21 118.25 Td (from ) Tj ET Q q 0 0 0 rg BT 177.42 118.25 Td (this ) Tj ET Q q 0 0 0 rg BT 194.64 118.25 Td (of) Tj ET Q q 0 0 0 rg BT 202.79 118.25 Td (fering ) Tj ET Q q 0 0 0 rg BT 229.43 118.25 Td (to: ) Tj ET Q q 0 0 0 rg BT 242.75 118.25 Td (repay ) Tj ET Q q 0 0 0 rg BT 267.73 118.25 Td ($300 ) Tj ET Q q 0 0 0 rg BT 290.50 118.25 Td (million ) Tj ET Q q 0 0 0 rg BT 322.16 118.25 Td (under ) Tj ET Q q 0 0 0 rg BT 347.69 118.25 Td (our ) Tj ET Q q 0 0 0 rg BT 363.79 118.25 Td ($800 ) Tj ET Q q 0 0 0 rg BT 386.56 118.25 Td (million ) Tj ET Q q 0 0 0 rg BT 418.22 118.25 Td (revolving ) Tj ET Q q 0 0 0 rg BT 459.31 118.25 Td (credit ) Tj ET Q q 0 0 0 rg BT 484.84 118.25 Td (facility ) Tj ET Q q 0 0 0 rg BT 515.93 118.25 Td (\(which ) Tj ET Q q 0 0 0 rg BT 546.46 118.25 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 106.25 Td (drawn ) Tj ET Q q 0 0 0 rg BT 76.90 106.25 Td (to ) Tj ET Q q 0 0 0 rg BT 86.59 106.25 Td (repay ) Tj ET Q q 0 0 0 rg BT 110.71 106.25 Td (our ) Tj ET Q q 0 0 0 rg BT 125.96 106.25 Td (4.125% ) Tj ET Q q 0 0 0 rg BT 158.70 106.25 Td (senior ) Tj ET Q q 0 0 0 rg BT 185.05 106.25 Td (notes ) Tj ET Q q 0 0 0 rg BT 208.07 106.25 Td (on ) Tj ET Q q 0 0 0 rg BT 219.99 106.25 Td (March ) Tj ET Q q 0 0 0 rg BT 248.00 106.25 Td (15, ) Tj ET Q q 0 0 0 rg BT 262.41 106.25 Td (2016\); ) Tj ET Q q 0 0 0 rg BT 290.43 106.25 Td (repay ) Tj ET Q q 0 0 0 rg BT 314.55 106.25 Td (the ) Tj ET Q q 0 0 0 rg BT 328.68 106.25 Td ($400 ) Tj ET Q q 0 0 0 rg BT 350.60 106.25 Td (million ) Tj ET Q q 0 0 0 rg BT 381.26 106.25 Td (T) Tj ET Q q 0 0 0 rg BT 387.02 106.25 Td (ranche ) Tj ET Q q 0 0 0 rg BT 415.58 106.25 Td (B ) Tj ET Q q 0 0 0 rg BT 424.16 106.25 Td (under ) Tj ET Q q 0 0 0 rg BT 448.84 106.25 Td (our ) Tj ET Q q 0 0 0 rg BT 464.09 106.25 Td (1-year ) Tj ET Q q 0 0 0 rg BT 491.54 106.25 Td (term ) Tj ET Q q 0 0 0 rg BT 511.77 106.25 Td (loan ) Tj ET Q q 0 0 0 rg BT 530.90 106.25 Td (facility; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 94.25 Td (pay ) Tj ET Q q 0 0 0 rg BT 66.94 94.25 Td (down ) Tj ET Q q 0 0 0 rg BT 91.66 94.25 Td (further ) Tj ET Q q 0 0 0 rg BT 121.37 94.25 Td (amounts ) Tj ET Q q 0 0 0 rg BT 157.75 94.25 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 206.92 94.25 Td (under ) Tj ET Q q 0 0 0 rg BT 232.19 94.25 Td (our ) Tj ET Q q 0 0 0 rg BT 248.02 94.25 Td ($800 ) Tj ET Q q 0 0 0 rg BT 270.52 94.25 Td (million ) Tj ET Q q 0 0 0 rg BT 301.91 94.25 Td (revolving ) Tj ET Q q 0 0 0 rg BT 342.73 94.25 Td (credit ) Tj ET Q q 0 0 0 rg BT 368.00 94.25 Td (facility; ) Tj ET Q q 0 0 0 rg BT 401.60 94.25 Td (and ) Tj ET Q q 0 0 0 rg BT 418.54 94.25 Td (pay ) Tj ET Q q 0 0 0 rg BT 435.47 94.25 Td (related ) Tj ET Q q 0 0 0 rg BT 465.18 94.25 Td (accrued ) Tj ET Q q 0 0 0 rg BT 498.76 94.25 Td (interest.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.69 94.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 73.25 Td (On May 26, 2016, we issued 540 million \($609 million\) of 2.125% senior notes due 2022. ) Tj ET Q q 0 0 0 rg BT 418.12 73.25 Td (These 2022 senior notes will ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 61.25 Td (mature on May 26, 2022. ) Tj ET Q q 0 0 0 rg BT 153.41 61.25 Td (W) Tj ET Q q 0 0 0 rg BT 162.05 61.25 Td (e used the net proceeds of this of) Tj ET Q q 0 0 0 rg BT 293.22 61.25 Td (fering to repay ) Tj ET Q q 0 0 0 rg BT 354.40 61.25 Td (T) Tj ET Q q 0 0 0 rg BT 360.16 61.25 Td (ranche ) Tj ET Q q 0 0 0 rg BT 388.75 61.25 Td (A) Tj ET Q q 0 0 0 rg BT 395.42 61.25 Td ( of the 1-year term loan and related ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 49.25 Td (accrued interest.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 115.52 49.25 Td ( ) Tj ET Q endstream endobj 115 0 obj <> endobj 116 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (57) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.50 742.10 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 141.08 742.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 160.52 742.10 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 239.11 742.10 Td (, we were in compliance with all financial covenants.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.80 742.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 721.10 Td (Fiduciary Funds) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 120.85 721.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 700.10 Td (As an intermediary) Tj ET Q q 0 0 0 rg BT 125.99 700.10 Td (, we hold funds, generally in a fiduciary capacity) Tj ET Q q 0 0 0 rg BT 320.83 700.10 Td (, for the account of third parties, typically as the result of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 688.10 Td (premiums received from clients that are in transit to insurers and claims due to clients that are in transit from insurers. ) Tj ET Q q 0 0 0 rg BT 523.57 688.10 Td (W) Tj ET Q q 0 0 0 rg BT 532.21 688.10 Td (e ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 676.10 Td (report premiums, which are held on account of, or due from, clients as assets with a corresponding liability due to the insurers. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 664.10 Td (Claims held by) Tj ET Q q 0 0 0 rg BT 109.90 664.10 Td (, or due to, us which are due to clients are also shown as both Fiduciary assets and Fiduciary liabilities on our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 652.10 Td (balance sheets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 107.47 652.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 631.10 Td (Fiduciary funds are generally required to be kept in regulated bank accounts subject to guidelines which emphasize capital ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 619.10 Td (preservation and liquidity; such funds are not available to service the Company) Tj ET Q q 0 0 0 rg BT 369.63 619.10 Td (s debt or for other corporate purposes. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 607.10 Td (Notwithstanding the legal relationships with clients and insurers, the Company is entitled to retain investment income earned ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 595.10 Td (on fiduciary funds in accordance with industry custom and practice and, in some cases, as supported by agreements with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 583.10 Td (insureds.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.83 583.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.50 562.10 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 141.08 562.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 160.52 562.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 180.52 562.10 Td (, we had fiduciary funds of $2.5 billion and $2.3 billion, respectively) Tj ET Q q 0 0 0 rg BT 455.09 562.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.59 562.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 541.10 Td (Shar) Tj ET Q q 0 0 0 rg BT 70.38 541.10 Td (e Repur) Tj ET Q q 0 0 0 rg BT 104.36 541.10 Td (chase Pr) Tj ET Q q 0 0 0 rg BT 140.56 541.10 Td (ogram) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 520.10 Td (The Company is authorized to repurchase shares, by way of redemption, and will consider whether to do so from time to time, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 508.10 Td (based on many factors, including market conditions.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.39 508.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 487.10 Td (On ) Tj ET Q q 0 0 0 rg BT 64.17 487.10 Td (April 20, 2016, the ) Tj ET Q q 0 0 0 rg BT 142.31 487.10 Td (W) Tj ET Q q 0 0 0 rg BT 151.35 487.10 Td (illis ) Tj ET Q q 0 0 0 rg BT 168.68 487.10 Td (T) Tj ET Q q 0 0 0 rg BT 174.09 487.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 200.29 487.10 Td (W) Tj ET Q q 0 0 0 rg BT 208.93 487.10 Td (atson Board reconfirmed, reapproved and reauthorized the remaining portion of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 475.10 Td (Legacy ) Tj ET Q q 0 0 0 rg BT 81.74 475.10 Td (W) Tj ET Q q 0 0 0 rg BT 90.78 475.10 Td (illis program to repurchase the Company) Tj ET Q q 0 0 0 rg BT 257.13 475.10 Td (s ordinary shares on the open market or by way of redemption or otherwise.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 560.38 475.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.10 Td (On November 10, 2016, the Company announced the Board of Directors approved an increase to the existing share repurchase ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (program of $1 billion. ) Tj ET Q q 0 0 0 rg BT 140.64 442.10 Td (The $1 billion increase is in addition to the remaining authority on the Legacy ) Tj ET Q q 0 0 0 rg BT 455.38 442.10 Td (W) Tj ET Q q 0 0 0 rg BT 464.41 442.10 Td (illis program discussed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (in the preceding paragraph. ) Tj ET Q q 0 0 0 rg BT 164.21 430.10 Td (W) Tj ET Q q 0 0 0 rg BT 172.85 430.10 Td (e anticipate this authorization to be executed in 2017 and 2018.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.83 430.10 Td ( ) Tj ET Q q 0 0 0 rg BT 427.78 430.10 Td (At December 31, 2016, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.10 Td (approximately $1.1 billion remained on the open-ended repurchase authorities granted by the Board. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 397.10 Td (There are no expiration dates for these repurchase plans or programs. ) Tj ET Q q 0 0 0 rg BT 329.15 397.10 Td (The following table presents specified information about ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 385.10 Td (the Company) Tj ET Q q 0 0 0 rg BT 106.38 385.10 Td (s repurchases of ordinary shares for the year ended December 31, 2016.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.21 385.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 364.10 Td (During ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.83 364.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 100.83 364.10 Td (, the Company had the following share repurchase activity:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 332.60 435.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 332.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 332.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 302.60 435.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 302.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 302.60 73.00 -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 489.5 332.6 m 562.5 332.6 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 505.45 344.83 Td (Year Ended) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 492.25 336.83 Td (December 31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 322.27 Td (Shares repurchased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.50 322.27 Td (3,170,330) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 307.27 Td (Average price per share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.25 307.27 Td ($124.87) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 292.27 Td (Aggregate repurchase cost) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.80 292.27 Td ($396 million) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 267.10 Td (Capital Commitments) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 144.21 267.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 246.10 Td (The Company has no material commitments for capital expenditures. Our capital expenditures for fixed assets and software for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 234.10 Td (internal use and capitalized software costs were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.47 234.10 Td ($303 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.87 234.10 Td ( for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 325.24 234.10 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.83 234.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.33 234.10 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.91 234.10 Td (. Expected capital ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 222.10 Td (expenditures for fixed assets and software for internal use are approximately $250 million for the year ended December 31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 210.10 Td (2017. ) Tj ET Q q 0 0 0 rg BT 74.32 210.10 Td (W) Tj ET Q q 0 0 0 rg BT 82.96 210.10 Td (e expect cash from operations to adequately provide for these cash needs.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.73 210.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 189.10 Td (Dividends) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 168.10 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 168.10 Td (otal cash dividends of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.39 168.10 Td ($199 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.78 168.10 Td ( were paid during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.54 168.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.54 168.10 Td (. In February 2017, the board of directors approved a quarterly cash ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 156.10 Td (dividend of $0.53 per share, which will be paid on or about ) Tj ET Q q 0 0 0 rg BT 288.84 156.10 Td (April 17, 2017, for an annual rate of $2.12 per share.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.88 156.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 135.10 Td (Off-Balance Sheet ) Tj ET Q q 0 0 0 rg BT 129.43 135.10 Td (Arrangements and Contractual Obligations) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 114.10 Td (Of) Tj ET Q q 0 0 0 rg BT 60.37 114.10 Td (f-Balance Sheet T) Tj ET Q q 0 0 0 rg BT 134.43 114.10 Td (ransactions) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 182.23 114.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 184.73 114.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 93.10 Td (Apart from commitments, guarantees and contingencies, as disclosed herein and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.79 93.10 Td (Note 13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.73 93.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.73 93.10 Td (Commitments and Contingencies) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 554.05 93.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 81.10 Td (located within Item 8 in this ) Tj ET Q q 0 0 0 rg BT 164.43 81.10 Td (Annual Report on Form 10-K and incorporated herein by reference, as of December 31, 2016, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 69.10 Td (Company had no of) Tj ET Q q 0 0 0 rg BT 128.97 69.10 Td (f-balance sheet arrangements that have, or are reasonably likely to have, a current or future material ef) Tj ET Q q 0 0 0 rg BT 538.04 69.10 Td (fect ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 57.10 Td (on the Company) Tj ET Q q 0 0 0 rg BT 118.88 57.10 Td (s financial condition, results of operations or liquidity) Tj ET Q q 0 0 0 rg BT 333.19 57.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.69 57.10 Td ( ) Tj ET Q endstream endobj 117 0 obj <> endobj 118 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (58) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (Contractual Obligations) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 149.75 742.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 721.25 Td (The Company) Tj ET Q q 0 0 0 rg BT 109.71 721.25 Td (s material contractual obligations as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 266.88 721.25 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.47 721.25 Td ( are as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 674.75 206.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.50 674.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 674.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 674.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 674.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 674.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 674.75 4.00 -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 50.50 644.75 206.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.50 644.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 644.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 644.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 644.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 644.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 644.75 4.00 -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 50.50 614.75 206.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.50 614.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 614.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 614.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 614.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 614.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 614.75 4.00 -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 50.50 584.75 206.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.50 584.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 584.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 584.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 584.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 584.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 584.75 4.00 -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 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 554.75 206.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.50 554.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 554.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 554.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 554.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 554.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 554.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 554.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 554.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 554.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 524.75 206.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.50 524.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 524.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 524.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 524.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 524.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 524.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 524.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 524.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 524.75 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 256.5 698.75 m 314.5 698.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314.5 698.75 m 318.5 698.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 698.75 m 376.5 698.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376.5 698.75 m 380.5 698.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 698.75 m 438.5 698.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 698.75 m 442.5 698.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 698.75 m 500.5 698.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500.5 698.75 m 504.5 698.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 698.75 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 256.5 686.75 m 314.5 686.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 698.75 m 376.5 698.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 686.75 m 376.5 686.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 686.75 m 438.5 686.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 686.75 m 500.5 686.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 686.75 m 562.5 686.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256.5 584.75 m 314.5 584.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 584.75 m 376.5 584.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 584.75 m 438.5 584.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 584.75 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 318.5 584.75 m 376.5 584.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256.5 509.75 m 314.5 509.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256.5 495.75 m 314.5 495.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256.5 493.75 m 314.5 493.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 509.75 m 376.5 509.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 495.75 m 376.5 495.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 493.75 m 376.5 493.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 509.75 m 438.5 509.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 495.75 m 438.5 495.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 493.75 m 438.5 493.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 509.75 m 500.5 509.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 495.75 m 500.5 495.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 493.75 m 500.5 493.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 509.75 m 562.5 509.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 495.75 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 504.5 493.75 m 562.5 493.75 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 379.85 702.83 Td (Payments due by) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 276.25 690.83 Td (Total) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 339.00 690.83 Td (2017) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 391.65 690.83 Td (2018-2019) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 453.65 690.83 Td (2020-2021) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 514.95 690.83 Td (After 2021) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 153.00 678.80 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 388.40 678.83 Td (\(in millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 664.42 Td (Debt and related interest obligations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 649.42 Td (Senior notes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.00 649.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.15 649.42 Td (3,176) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.00 649.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.65 649.42 Td (394) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 649.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 649.42 Td (187) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 649.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 649.42 Td (950) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 649.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 649.42 Td (1,645) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 634.42 Td (Term loans) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.65 634.42 Td (473) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.65 634.42 Td (107) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 634.42 Td (366) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 634.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 634.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 619.42 Td (Revolving $800million credit facility) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.65 619.42 Td (238) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.65 619.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 619.42 Td (238) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 619.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 619.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 604.42 Td (Other debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.65 604.42 Td (7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.65 604.42 Td (7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 604.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 604.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 604.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 589.42 Td (Interest on senior notes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.15 589.42 Td (1,049) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.65 589.42 Td (128) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 589.42 Td (241) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 589.42 Td (191) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 589.42 Td (489) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 574.42 Td (Total debt and related interest obligations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.15 574.42 Td (4,943) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.65 574.42 Td (636) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.15 574.42 Td (1,032) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.15 574.42 Td (1,141) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 574.42 Td (2,134) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 559.42 Td (Operating leases) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.15 559.42 Td (1,482) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.65 559.42 Td (238) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 559.42 Td (365) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 559.42 Td (268) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 559.42 Td (611) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 544.42 Td (U.K. pension contractual obligations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.65 544.42 Td (277) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.65 544.42 Td (55) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 544.42 Td (103) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 544.42 Td (70) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 544.42 Td (49) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 529.42 Td (Acquisition liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.65 529.42 Td (142) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.65 529.42 Td (59) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 529.42 Td (83) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 529.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 529.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 514.42 Td (Other contractual obligations ) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 172.13 518.49 Td (\(i\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.65 514.42 Td (142) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.65 514.42 Td (47) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 514.42 Td (44) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 514.42 Td (13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 514.42 Td (38) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.00 499.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.15 499.42 Td (6,986) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.00 499.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.15 499.42 Td (1,035) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 499.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.15 499.42 Td (1,627) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 499.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.15 499.42 Td (1,492) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 499.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 499.42 Td (2,832) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 483.25 Td (____________________) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 150.00 483.25 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 68.00 470.65 Td (\(i\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 470.65 Td (Other contractual obligations include capital lease commitments, put option obligations and investment fund capital call obligations, the timing of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 461.05 Td (which are included at the earliest point they may fall due.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 269.71 461.05 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 440.05 Td (Debt obligations and facilities ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 185.27 440.05 Td (The Company) Tj ET Q q 0 0 0 rg BT 244.99 440.05 Td (s material debt and related interest obligations at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.59 440.05 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.17 440.05 Td ( are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 428.05 Td (shown in the above table. Mandatory repayments of debt over the next 12months include maturity of the 6.200% senior notes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 416.05 Td (due 2017 and the scheduled repayment of the current portion of the Company) Tj ET Q q 0 0 0 rg BT 363.24 416.05 Td (s 7-year and 2019 term loans. ) Tj ET Q q 0 0 0 rg BT 483.86 416.05 Td (The Company also ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 404.05 Td (has the right, at its option, to prepay indebtedness under the credit facility without further penalty and to redeem the senior ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 392.05 Td (notes by paying a make-whole) Tj ET Q q 0 0 0 rg BT 178.11 392.05 Td ( premium as provided under the applicable debt instrument.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.65 392.05 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 371.05 Td (Operating Leases ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 134.72 371.05 Td (W) Tj ET Q q 0 0 0 rg BT 143.36 371.05 Td (e lease of) Tj ET Q q 0 0 0 rg BT 180.93 371.05 Td (fice space and furniture under operating lease agreements with terms typically ranging from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 359.05 Td (three to twenty years. ) Tj ET Q q 0 0 0 rg BT 138.40 359.05 Td (W) Tj ET Q q 0 0 0 rg BT 147.04 359.05 Td (e have determined that there is not a lar) Tj ET Q q 0 0 0 rg BT 304.57 359.05 Td (ge concentration of leases that will expire in any one fiscal year) Tj ET Q q 0 0 0 rg BT 558.63 359.05 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 347.05 Td (Consequently) Tj ET Q q 0 0 0 rg BT 104.35 347.05 Td (, management anticipates that any increase in future rent expense on leases will be mainly market-driven. ) Tj ET Q q 0 0 0 rg BT 527.90 347.05 Td (W) Tj ET Q q 0 0 0 rg BT 536.53 347.05 Td (e also ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 335.05 Td (lease cars and selected computer equipment under operating lease agreements. For acquired operating leases, intangible assets ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 323.05 Td (or liabilities have been recognized for the dif) Tj ET Q q 0 0 0 rg BT 229.47 323.05 Td (ference between the contractual cash obligations and the estimated market rates at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 311.05 Td (the time of acquisition. ) Tj ET Q q 0 0 0 rg BT 144.52 311.05 Td (These intangibles are amortized to rent expense but do not af) Tj ET Q q 0 0 0 rg BT 388.14 311.05 Td (fect our contractual cash obligations. See ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 299.05 Td (further discussion in Item 8, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 164.98 299.05 Td (Note 13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.92 299.05 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 211.92 299.05 Td (Commitments and Contingencies) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.24 299.05 Td ( to the Consolidated Financial Statements in this ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 287.05 Td (Annual Report on Form 10-K.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 171.38 287.05 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 266.05 Td (Pension Contributions ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 151.67 266.05 Td ( ) Tj ET Q q 0 0 0 rg BT 153.99 266.05 Td (The Company has agreed with ) Tj ET Q q 0 0 0 rg BT 278.50 266.05 Td (T) Tj ET Q q 0 0 0 rg BT 284.26 266.05 Td (rustees of certain plans in the U.K. to contribute deficit funding and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 254.05 Td (minimum ongoing accrual of benefits funding and presented those obligations in the table above. ) Tj ET Q q 0 0 0 rg BT 440.56 254.05 Td (These obligations exclude any ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 242.05 Td (potential funding level contributions, which are dependent on future funding level assessments. ) Tj ET Q q 0 0 0 rg BT 433.61 242.05 Td (There are no contractual ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 230.05 Td (obligations for our U.S. pension plans. Our total expected contributions to all qualified pension plans, including amounts ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 218.05 Td (presented above, for the year ending December 31, 2017 are projected to be $128 million. ) Tj ET Q q 0 0 0 rg BT 411.54 218.05 Td (Additionally) Tj ET Q q 0 0 0 rg BT 461.45 218.05 Td (, the Company expects ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 206.05 Td (to pay $60 million in benefits directly to participants for the year ended 2017. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.97 206.05 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 185.05 Td (Uncertain T) Tj ET Q q 0 0 0 rg BT 97.69 185.05 Td (ax Positions ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 158.25 185.05 Td ( ) Tj ET Q q 0 0 0 rg BT 160.57 185.05 Td (The table above does not include liabilities for uncertain tax positions under ) Tj ET Q q 0 0 0 rg BT 466.60 185.05 Td (ASC740, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 508.55 185.05 Td (Income ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 173.05 Td (T) Tj ET Q q 0 0 0 rg BT 54.64 173.05 Td (axes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.41 173.05 Td (. ) Tj ET Q q 0 0 0 rg BT 77.23 173.05 Td (The settlement period for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 195.80 173.05 Td ($56 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.19 173.05 Td ( liability) Tj ET Q q 0 0 0 rg BT 275.15 173.05 Td (, which excludes interest and penalties, cannot be reasonably estimated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 161.05 Td (since it depends on the timing and possible outcomes of tax examinations with various tax authorities.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.26 161.05 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 140.05 Td (Guarantees, ) Tj ET Q q 0 0 0 rg BT 101.48 140.05 Td (Acquisition Liabilities and Other Contractual Obligations ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.38 140.05 Td ( Information regarding guarantees and other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 128.05 Td (contractual obligations and their impact on the financial statements is set forth in Item 8, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.57 128.05 Td (Note 13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.51 128.05 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.51 128.05 Td (Commitments and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 116.05 Td (Contingencies) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 107.21 116.05 Td ( to the Consolidated Financial Statements in this ) Tj ET Q q 0 0 0 rg BT 302.75 116.05 Td (Annual Report on Form 10-K and is incorporated herein by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 104.05 Td (reference.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.68 104.05 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 83.05 Td (Claims, Lawsuits and Other Pr) Tj ET Q q 0 0 0 rg BT 174.37 83.05 Td (oceedings, including Stanfor) Tj ET Q q 0 0 0 rg BT 288.71 83.05 Td (d Financial Gr) Tj ET Q q 0 0 0 rg BT 348.33 83.05 Td (oup Litigation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.17 83.05 Td (Information regarding claims, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 71.05 Td (lawsuits and other proceedings, including the Stanford Financial Group litigation, and their impact on the consolidated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 59.05 Td (financial statements is set forth in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 187.19 59.05 Td (Item 8, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 218.01 59.05 Td (Note 13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.95 59.05 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 264.95 59.05 Td (Commitments and Contingencies) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.27 59.05 Td ( to the Consolidated Financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 47.05 Td (Statements in this ) Tj ET Q q 0 0 0 rg BT 123.06 47.05 Td (Annual Report on Form 10-K and is incorporated herein by reference.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.24 47.05 Td ( ) Tj ET Q endstream endobj 119 0 obj <> endobj 120 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (59) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (Non-GAAP) Tj ET Q q 0 0 0 rg BT 98.89 742.25 Td ( Financial Measur) Tj ET Q q 0 0 0 rg BT 176.48 742.25 Td (es) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 721.25 Td (Ef) Tj ET Q q 0 0 0 rg BT 59.26 721.25 Td (fective from January 1, 2016, we have made changes to the non-GAAP) Tj ET Q q 0 0 0 rg BT 344.08 721.25 Td ( financial measures that we use to provide additional ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 709.25 Td (meaningful methods of evaluating the Company) Tj ET Q q 0 0 0 rg BT 245.79 709.25 Td (s financial performance and have replaced our underlying and or) Tj ET Q q 0 0 0 rg BT 504.11 709.25 Td (ganic ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 697.25 Td (measures with those described below) Tj ET Q q 0 0 0 rg BT 198.20 697.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 200.70 697.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 676.25 Td (These changes have been made both as a direct consequence of the Mer) Tj ET Q q 0 0 0 rg BT 336.91 676.25 Td (ger and to simplify and better align these measures with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 664.25 Td (how we internally assess core performance and benchmark our operating results versus competitors.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.70 664.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 643.25 Td (In order to assist readers of our consolidated financial statements in understanding the core operating results that ) Tj ET Q q 0 0 0 rg BT 502.18 643.25 Td (W) Tj ET Q q 0 0 0 rg BT 511.22 643.25 Td (illis ) Tj ET Q q 0 0 0 rg BT 528.54 643.25 Td (T) Tj ET Q q 0 0 0 rg BT 533.96 643.25 Td (owers ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 631.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 631.25 Td (atson) Tj ET Q q 0 0 0 rg BT 82.52 631.25 Td (s management uses to evaluate the business and for financial planning, we present non-GAAP) Tj ET Q q 0 0 0 rg BT 458.72 631.25 Td ( measures: \(1\) ) Tj ET Q q 0 0 0 rg BT 517.31 631.25 Td (Adjusted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 619.25 Td (Revenues, \(2\) Constant Currency Change, \(3\) Or) Tj ET Q q 0 0 0 rg BT 245.88 619.25 Td (ganic Change, \(4\)) Tj ET Q q 0 0 0 rg BT 319.19 619.25 Td (Adjusted Operating Income, \(5\) ) Tj ET Q q 0 0 0 rg BT 448.88 619.25 Td (Adjusted EBITDA, \(6\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 607.25 Td (Adjusted Net Income, \(7\) ) Tj ET Q q 0 0 0 rg BT 154.14 607.25 Td (Adjusted Diluted Earnings Per Share, \(8\) ) Tj ET Q q 0 0 0 rg BT 320.50 607.25 Td (Adjusted Income Before ) Tj ET Q q 0 0 0 rg BT 421.12 607.25 Td (T) Tj ET Q q 0 0 0 rg BT 426.53 607.25 Td (axes, \(9\) ) Tj ET Q q 0 0 0 rg BT 462.91 607.25 Td (Adjusted Income ) Tj ET Q q 0 0 0 rg BT 533.82 607.25 Td (T) Tj ET Q q 0 0 0 rg BT 539.23 607.25 Td (axes/) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 595.25 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 595.25 Td (ax Rate and \(10\) Free Cash Flow) Tj ET Q q 0 0 0 rg BT 186.95 595.25 Td (. ) Tj ET Q q 0 0 0 rg BT 191.77 595.25 Td (The Company believes that these measures are relevant and provide useful information ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 583.25 Td (widely used by analysts, investors and other interested parties in our industry to provide a baseline for evaluating and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 571.25 Td (comparing our operating and liquidity results.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 233.30 571.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.25 Td (W) Tj ET Q q 0 0 0 rg BT 59.04 550.25 Td (ithin these measures, we have adjusted for significant items which will not be settled in cash, or which we believe to be items ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.25 Td (that are not core to our current or future operations. ) Tj ET Q q 0 0 0 rg BT 257.79 538.25 Td (These items include the following:) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 517.25 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 86.00 517.25 Td (Restructuring and T) Tj ET Q q 0 0 0 rg BT 166.00 517.25 Td (ransaction and integration expenses - ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.59 517.25 Td (Management believes it is appropriate to adjust for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 505.25 Td (restructuring and transaction and integration expenses when they relate to a specific significant program with a defined ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 493.25 Td (set of activities and costs that are not expected to continue beyond a defined period of time. ) Tj ET Q q 0 0 0 rg BT 454.03 493.25 Td (W) Tj ET Q q 0 0 0 rg BT 462.67 493.25 Td (e believe the adjustment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 481.25 Td (is necessary to present how the Company is performing, both now and in the future when these programs will have ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 469.25 Td (concluded.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 129.59 469.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 448.25 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 86.00 448.25 Td (Fair value adjustment to deferr) Tj ET Q q 0 0 0 rg BT 211.17 448.25 Td (ed r) Tj ET Q q 0 0 0 rg BT 226.63 448.25 Td (evenue -) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.21 448.25 Td ( ) Tj ET Q q 0 0 0 rg BT 262.16 448.25 Td (Adjustment to normalize for the deferred revenue written down as part of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 436.25 Td (the purchase accounting for the Mer) Tj ET Q q 0 0 0 rg BT 230.48 436.25 Td (ger) Tj ET Q q 0 0 0 rg BT 242.70 436.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.20 436.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 415.25 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 86.00 415.25 Td (Gains and losses on disposals of operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.57 415.25 Td ( - ) Tj ET Q q 0 0 0 rg BT 269.35 415.25 Td (Adjustment to remove the results of disposed operations.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.09 415.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 394.25 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 86.00 394.25 Td (Pr) Tj ET Q q 0 0 0 rg BT 95.63 394.25 Td (ovision for Stanfor) Tj ET Q q 0 0 0 rg BT 170.26 394.25 Td (d litigation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.43 394.25 Td ( - ) Tj ET Q q 0 0 0 rg BT 222.58 394.25 Td (The provision for the Stanford litigation matter) Tj ET Q q 0 0 0 rg BT 410.47 394.25 Td (, which we consider to be a non-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 382.25 Td (ordinary course litigation matter) Tj ET Q q 0 0 0 rg BT 214.57 382.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 217.07 382.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 361.25 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 86.00 361.25 Td (V) Tj ET Q q 0 0 0 rg BT 91.00 361.25 Td (enezuelan curr) Tj ET Q q 0 0 0 rg BT 150.34 361.25 Td (ency devaluation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 218.36 361.25 Td ( - Foreign exchange losses incurred as a consequence of the ) Tj ET Q q 0 0 0 rg BT 459.48 361.25 Td (V) Tj ET Q q 0 0 0 rg BT 465.59 361.25 Td (enezuelan ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 349.25 Td (government) Tj ET Q q 0 0 0 rg BT 136.54 349.25 Td (s enforced changes to exchange rate mechanisms. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.57 349.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 328.25 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 86.00 328.25 Td (Deferr) Tj ET Q q 0 0 0 rg BT 112.29 328.25 Td (ed tax valuation allowance) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 220.32 328.25 Td ( - ) Tj ET Q q 0 0 0 rg BT 228.10 328.25 Td (Adjustment to remove the ef) Tj ET Q q 0 0 0 rg BT 342.33 328.25 Td (fects of a release of the valuation allowance against ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 316.25 Td (certain U.S. deferred tax assets.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 212.34 316.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 295.25 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 86.00 295.25 Td (Gain on r) Tj ET Q q 0 0 0 rg BT 124.52 295.25 Td (emeasur) Tj ET Q q 0 0 0 rg BT 158.03 295.25 Td (ement of equity inter) Tj ET Q q 0 0 0 rg BT 240.14 295.25 Td (ests) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 255.14 295.25 Td ( - ) Tj ET Q q 0 0 0 rg BT 263.29 295.25 Td (The Company recognized a gain as a result of remeasuring its prior equity ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 283.25 Td (interest in Gras Savoye held before the business combination.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.88 283.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.25 Td (These measures are dif) Tj ET Q q 0 0 0 rg BT 141.72 262.25 Td (ferent than those reported in our Form 10-K for the year ended December 31, 2015 and filed with the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.25 Td (SEC on February 29, 2016. Historical non-GAAP) Tj ET Q q 0 0 0 rg BT 251.56 250.25 Td ( measures have been recalculated using management) Tj ET Q q 0 0 0 rg BT 465.35 250.25 Td (s new metrics for 2016.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.50 250.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 229.25 Td (These non-GAAP) Tj ET Q q 0 0 0 rg BT 121.56 229.25 Td ( measures are not defined in the same manner by all companies and may not be comparable to other similarly ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 217.25 Td (titled measures of other companies. Non-GAAP) Tj ET Q q 0 0 0 rg BT 241.81 217.25 Td ( measures should be considered in addition to, and not as a substitute for) Tj ET Q q 0 0 0 rg BT 531.35 217.25 Td (, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 205.25 Td (information contained within our consolidated financial statements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.21 205.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 184.25 Td (The pro forma financial information is only for ) Tj ET Q q 0 0 0 rg BT 240.87 184.25 Td (W) Tj ET Q q 0 0 0 rg BT 249.91 184.25 Td (illis and ) Tj ET Q q 0 0 0 rg BT 284.17 184.25 Td (T) Tj ET Q q 0 0 0 rg BT 289.58 184.25 Td (owers ) Tj ET Q q 0 0 0 rg BT 315.79 184.25 Td (W) Tj ET Q q 0 0 0 rg BT 324.42 184.25 Td (atson and does not include Gras Savoye or other M&A) Tj ET Q q 0 0 0 rg BT 543.55 184.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 172.25 Td (activity on a pro forma basis.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 166.64 172.25 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 151.25 Td (Adjusted Revenues) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 128.06 151.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 130.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 130.25 Td (e consider ) Tj ET Q q 0 0 0 rg BT 101.40 130.25 Td (Adjusted Revenues to be an important financial measure, which is used to internally evaluate and assess our core ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 118.25 Td (operations and to benchmark our operating results against our competitors. ) Tj ET Q q 0 0 0 rg BT 351.31 118.25 Td (Adjusted Revenues presents relevant period-over) Tj ET Q q 0 0 0 rg BT 547.71 118.25 Td (-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 106.25 Td (period comparisons of revenues by excluding the impact of purchase accounting rules. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.50 106.25 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 85.25 Td (Adjusted Revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 125.25 85.25 Td ( is defined as ) Tj ET Q q 0 0 0 rg BT 180.05 85.25 Td (T) Tj ET Q q 0 0 0 rg BT 185.46 85.25 Td (otal revenues adjusted for the fair value adjustment for deferred revenues that would ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 73.25 Td (otherwise have been recognized but for the purchase accounting treatment of these transactions. GAAP) Tj ET Q q 0 0 0 rg BT 462.81 73.25 Td ( accounting requires the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 61.25 Td (elimination of this revenue. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.47 61.25 Td ( ) Tj ET Q endstream endobj 121 0 obj <> endobj 122 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (60) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 742.10 Td (e have included the reconciliation of ) Tj ET Q q 0 0 0 rg BT 206.73 742.10 Td (T) Tj ET Q q 0 0 0 rg BT 212.14 742.10 Td (otal revenues to ) Tj ET Q q 0 0 0 rg BT 277.40 742.10 Td (Adjusted Revenues in the table below) Tj ET Q q 0 0 0 rg BT 428.10 742.10 Td (, together with our reconciliation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (of the pro forma revenues change to the constant currency and or) Tj ET Q q 0 0 0 rg BT 309.99 730.10 Td (ganic changes.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.85 730.10 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 709.10 Td (Constant Currency Change and Organic Change) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 252.55 709.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 692.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 692.10 Td (e evaluate our revenues on an as reported \(U.S. GAAP\), constant currency and or) Tj ET Q q 0 0 0 rg BT 383.90 692.10 Td (ganic basis. ) Tj ET Q q 0 0 0 rg BT 432.87 692.10 Td (W) Tj ET Q q 0 0 0 rg BT 441.51 692.10 Td (e believe providing constant ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 680.10 Td (currency and or) Tj ET Q q 0 0 0 rg BT 112.56 680.10 Td (ganic information provides valuable supplemental information regarding our comparable results, consistent ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 668.10 Td (with how we evaluate our performance internally) Tj ET Q q 0 0 0 rg BT 246.49 668.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.99 668.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 651.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 86.00 651.10 Td (Constant Curr) Tj ET Q q 0 0 0 rg BT 143.70 651.10 Td (ency Change - ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 203.95 651.10 Td (Represents the year over year change in revenues excluding the impact of foreign ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 639.10 Td (currency fluctuations. ) Tj ET Q q 0 0 0 rg BT 175.51 639.10 Td (T) Tj ET Q q 0 0 0 rg BT 180.92 639.10 Td (o calculate this impact, the prior year local currency results are first translated using the current ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 627.10 Td (year monthly average exchange rates. ) Tj ET Q q 0 0 0 rg BT 239.08 627.10 Td (The change is calculated by comparing the prior year revenues, translated at the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 615.10 Td (current year monthly average exchange rates, to the current year as reported revenues, for the same period. ) Tj ET Q q 0 0 0 rg BT 515.06 615.10 Td (W) Tj ET Q q 0 0 0 rg BT 523.70 615.10 Td (e believe ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 603.10 Td (constant currency measures provide useful information to investors because they provide transparency to performance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 591.10 Td (by excluding the ef) Tj ET Q q 0 0 0 rg BT 162.74 591.10 Td (fect that foreign currency exchange rate fluctuations have on period-over) Tj ET Q q 0 0 0 rg BT 454.34 591.10 Td (-period comparability ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 579.10 Td (given volatility in foreign currency exchange markets.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.87 579.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 562.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 86.00 562.10 Td (Or) Tj ET Q q 0 0 0 rg BT 96.74 562.10 Td (ganic Change - ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 160.90 562.10 Td (The or) Tj ET Q q 0 0 0 rg BT 187.09 562.10 Td (ganic presentation excludes both the impact of fluctuations in foreign currency exchange ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 550.10 Td (rates, as described above, as well as the period-over) Tj ET Q q 0 0 0 rg BT 292.94 550.10 Td (-period impact of acquisitions and divestitures. ) Tj ET Q q 0 0 0 rg BT 482.99 550.10 Td (W) Tj ET Q q 0 0 0 rg BT 491.63 550.10 Td (e believe that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 538.10 Td (excluding transaction-related items from our GAAP) Tj ET Q q 0 0 0 rg BT 293.63 538.10 Td ( financial measures provides useful supplemental information to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 526.10 Td (our investors, and it is important in illustrating what our core operating results would have been had we not incurred ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 514.10 Td (these transaction-related items, since the nature, size and number of these transaction-related items can vary from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 502.10 Td (period to period.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 152.37 502.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 485.10 Td (The constant currency and or) Tj ET Q q 0 0 0 rg BT 166.44 485.10 Td (ganic change results, and a reconciliation from the as reported results for consolidated revenues ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 473.10 Td (are included in the ) Tj ET Q q 0 0 0 rg BT 126.08 473.10 Td (As Reported Consolidated Financial Information section within this Form 10-K. ) Tj ET Q q 0 0 0 rg BT 451.97 473.10 Td (These measures are also ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 461.10 Td (reported by segment in the ) Tj ET Q q 0 0 0 rg BT 158.58 461.10 Td (As Reported Segment Revenues ) Tj ET Q q 0 0 0 rg BT 289.67 461.10 Td (Analysis tables in that discussion and analysis.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.60 461.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 444.10 Td (A) Tj ET Q q 0 0 0 rg BT 56.67 444.10 Td ( reconciliation of ) Tj ET Q q 0 0 0 rg BT 127.29 444.10 Td (T) Tj ET Q q 0 0 0 rg BT 132.71 444.10 Td (otal revenues to ) Tj ET Q q 0 0 0 rg BT 197.96 444.10 Td (Adjusted Revenues for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.83 444.10 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.41 444.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.91 444.10 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.49 444.10 Td ( and pro forma ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.14 444.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.14 444.10 Td (, and a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 432.10 Td (reconciliation of the pro forma change to the constant currency and or) Tj ET Q q 0 0 0 rg BT 329.43 432.10 Td (ganic change for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.28 432.10 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.86 432.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.36 432.10 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.94 432.10 Td ( is as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 420.10 Td (follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 347.60 118.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 168.50 347.60 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 174.50 347.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 232.50 347.60 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 238.50 347.60 57.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 295.50 347.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 299.50 347.60 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.50 347.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.50 347.60 47.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 399.50 347.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 347.60 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 452.50 347.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 347.60 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.50 347.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 347.60 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 307.60 118.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 168.50 307.60 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 174.50 307.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 232.50 307.60 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 238.50 307.60 57.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 295.50 307.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 299.50 307.60 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.50 307.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.50 307.60 47.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 399.50 307.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 307.60 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 452.50 307.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 307.60 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.50 307.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 307.60 48.00 -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 174.5 388.6 m 232.5 388.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 232.5 388.6 m 238.5 388.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 238.5 388.6 m 295.5 388.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 352.5 388.6 m 399.5 388.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399.5 388.6 m 404.5 388.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404.5 388.6 m 452.5 388.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452.5 388.6 m 457.5 388.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457.5 388.6 m 508.5 388.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508.5 388.6 m 512.5 388.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 388.6 m 560.5 388.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 299.5 388.6 m 347.5 388.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 174.5 360.6 m 232.5 360.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 238.5 360.6 m 295.5 360.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 299.5 360.6 m 347.5 360.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 352.5 360.6 m 399.5 360.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404.5 360.6 m 452.5 360.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457.5 360.6 m 508.5 360.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 360.6 m 560.5 360.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 299.5 347.6 m 347.5 347.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 352.5 347.6 m 399.5 347.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404.5 347.6 m 452.5 347.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457.5 347.6 m 508.5 347.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 347.6 m 560.5 347.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 174.5 307.6 m 232.5 307.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 238.5 307.6 m 295.5 307.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 174.5 293.6 m 232.5 293.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 174.5 291.6 m 232.5 291.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 238.5 293.6 m 295.5 293.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 238.5 291.6 m 295.5 291.6 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 214.45 400.83 Td (Year Ended) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 210.25 392.83 Td (December 31,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 415.95 392.83 Td (Components of Change) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 247.80 378.83 Td (Pro Forma) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 304.30 372.83 Td (Pro Forma) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 309.85 364.83 Td (Change) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 359.10 372.83 Td (Currency) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 363.25 364.83 Td (Impact) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 412.40 380.68 Td (Constant) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 411.60 372.68 Td (Currency) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 414.85 364.68 Td (Change) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 460.25 372.83 Td (Acquisitions/) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 462.10 364.83 Td (Divestitures) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 522.00 372.83 Td (Organic) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 522.85 364.83 Td (Change) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 195.00 364.83 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 258.50 364.83 Td (2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 213.90 351.83 Td (\(in millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 337.27 Td (Total revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 177.00 337.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 206.15 337.27 Td (7,887) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 241.00 337.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.15 337.27 Td (7,492) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.30 337.27 Td (5%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.50 337.27 Td (\(3\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.30 337.27 Td (8%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.80 337.27 Td (7%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.30 337.27 Td (1%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 322.27 Td (Fair value adjustment for) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 312.27 Td (deferred revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 218.65 312.27 Td (58) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.65 312.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 297.27 Td (Adjusted Revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 177.00 297.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 206.15 297.27 Td (7,945) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 241.00 297.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.15 297.27 Td (7,492) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.30 297.27 Td (6%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.50 297.27 Td (\(3\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.30 297.27 Td (9%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.80 297.27 Td (7%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.30 297.27 Td (2%) Tj ET Q BT /F1 10.00 Tf ET BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 272.10 Td (Adjusted Operating Income) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 163.90 272.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 251.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 251.10 Td (e consider ) Tj ET Q q 0 0 0 rg BT 101.40 251.10 Td (Adjusted Operating Income to be an important financial measure, which is used to internally evaluate and assess ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 239.10 Td (our core operations and to benchmark our operating results against our competitors.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.90 239.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 218.10 Td (Adjusted Operating Income is defined as Income from Operations adjusted for amortization, restructuring costs, transaction and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 206.10 Td (integration expenses, the fair value adjustment for deferred revenue and non-recurring items that, in management) Tj ET Q q 0 0 0 rg BT 505.38 206.10 Td (s judgment, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 194.10 Td (significantly af) Tj ET Q q 0 0 0 rg BT 110.08 194.10 Td (fect the period-over) Tj ET Q q 0 0 0 rg BT 188.73 194.10 Td (-period assessment of operating results.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.74 194.10 Td ( ) Tj ET Q endstream endobj 123 0 obj <> endobj 124 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (61) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (A) Tj ET Q q 0 0 0 rg BT 56.67 742.10 Td ( reconciliation of Income from Operations to ) Tj ET Q q 0 0 0 rg BT 238.00 742.10 Td (Adjusted Operating Income for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.46 742.10 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.04 742.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.54 742.10 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.13 742.10 Td ( and pro ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (forma ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.38 730.10 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 119.96 730.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.46 730.10 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 201.04 730.10 Td ( is as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 664.60 208.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 258.50 664.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 331.50 664.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 335.50 664.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 664.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 664.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 664.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 664.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 634.60 208.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 258.50 634.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 331.50 634.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 335.50 634.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 634.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 634.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 634.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 634.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 604.60 208.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 258.50 604.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 331.50 604.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 335.50 604.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 604.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 604.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 604.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 604.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 574.60 208.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 258.50 574.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 331.50 574.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 335.50 574.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 574.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 574.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 574.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 574.60 73.00 -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 258.5 698.6 m 331.5 698.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 335.5 698.6 m 408.5 698.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 698.6 m 412.5 698.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412.5 698.6 m 485.5 698.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485.5 698.6 m 489.5 698.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 698.6 m 562.5 698.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 258.5 677.6 m 331.5 677.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 335.5 677.6 m 408.5 677.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412.5 677.6 m 485.5 677.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 677.6 m 562.5 677.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 258.5 559.6 m 331.5 559.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 258.5 545.6 m 331.5 545.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 258.5 543.6 m 331.5 543.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 335.5 559.6 m 408.5 559.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 335.5 545.6 m 408.5 545.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 335.5 543.6 m 408.5 543.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412.5 559.6 m 485.5 559.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412.5 545.6 m 485.5 545.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412.5 543.6 m 485.5 543.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 559.6 m 562.5 559.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 545.6 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 489.5 543.6 m 562.5 543.6 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 274.45 710.83 Td (Year Ended) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 261.25 702.83 Td (December 31, 2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 428.45 710.83 Td (Year Ended) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 415.25 702.83 Td (December 31, 2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 271.30 689.83 Td (Willis Towers) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 281.60 681.83 Td (Watson) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 348.40 681.83 Td (Legacy Willis) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 416.55 689.83 Td (Pro Forma Towers) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 430.80 681.83 Td (Watson \(i\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 495.90 689.83 Td (Pro Forma Willis) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 499.35 681.83 Td (Towers Watson) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 389.40 668.83 Td (\(inmillions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 654.27 Td (Income from operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.00 654.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.65 654.27 Td (551) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.00 654.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.65 654.27 Td (427) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 654.27 Td (338) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.00 654.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 654.27 Td (765) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 639.27 Td (Adjusted for certain items:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 624.27 Td (Amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.65 624.27 Td (591) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.65 624.27 Td (76) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 624.27 Td (459) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 624.27 Td (535) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 609.27 Td (Restructuring costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.65 609.27 Td (193) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.65 609.27 Td (126) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.65 609.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 609.27 Td (126) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 594.27 Td (Transaction and integration expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.65 594.27 Td (177) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.65 594.27 Td (73) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.30 594.32 Td (\(58) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 594.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 594.27 Td (15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 579.27 Td (Provision for the Stanford litigation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.65 579.27 Td (50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.65 579.27 Td (70) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.65 579.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 579.27 Td (70) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 564.27 Td (Fair value adjustment for deferred revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.65 564.27 Td (58) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.65 564.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.65 564.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 564.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 549.27 Td (Adjusted Operating Income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.00 549.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.15 549.27 Td (1,620) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.00 549.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.65 549.27 Td (772) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.00 549.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 549.27 Td (739) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.00 549.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 549.27 Td (1,511) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 533.10 Td (____________________) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 150.00 533.10 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 68.00 520.50 Td (\(i\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 520.50 Td (Includes pro forma adjustments made in the Supplementary Pro Forma Financial Information section in this Form 10-K.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 471.04 520.50 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 499.50 Td (Adjusted Operating Income for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 192.46 499.50 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 236.04 499.50 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.54 499.50 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.12 499.50 Td ( was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.68 499.50 Td ($1.6 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.79 499.50 Td (, compared to pro forma ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.20 499.50 Td ($1.5 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.31 499.50 Td ( for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 487.50 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 93.58 487.50 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 96.08 487.50 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 174.67 487.50 Td (, an increase of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 237.69 487.50 Td ($109 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.08 487.50 Td (. ) Tj ET Q q 0 0 0 rg BT 293.90 487.50 Td (The increase in ) Tj ET Q q 0 0 0 rg BT 356.93 487.50 Td (Adjusted Operating Income for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.38 487.50 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.97 487.50 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 475.50 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.58 475.50 Td ( was primarily driven by our acquisition of Gras Savoye, the settlement with JL) Tj ET Q q 0 0 0 rg BT 445.93 475.50 Td (T) Tj ET Q q 0 0 0 rg BT 451.86 475.50 Td ( of 28 million \($41 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 463.50 Td (million\) related to the Fine ) Tj ET Q q 0 0 0 rg BT 159.15 463.50 Td (Art, Jewellery and Specie team, and the performance of our Exchange Solutions segment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.69 463.50 Td (. ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 442.50 Td (Adjusted EBITDA) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 125.30 442.50 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 421.50 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 421.50 Td (e consider ) Tj ET Q q 0 0 0 rg BT 101.40 421.50 Td (Adjusted EBITDA) Tj ET Q q 0 0 0 rg BT 176.12 421.50 Td ( to be an important financial measure, which is used to internally evaluate and assess our core ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 409.50 Td (operations, to benchmark our operating results against our competitors, and to evaluate and measure our performance-based ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 397.50 Td (compensation plans.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.65 397.50 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 376.50 Td (Adjusted EBITDA) Tj ET Q q 0 0 0 rg BT 124.72 376.50 Td ( is defined as Net Income adjusted for provision for income taxes, interest expense, depreciation and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 364.50 Td (amortization, restructuring costs, transaction and integration expenses, the fair value adjustment for deferred revenue, gain on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 352.50 Td (disposal of operations and non-recurring items that, in management) Tj ET Q q 0 0 0 rg BT 322.98 352.50 Td (s judgment, significantly af) Tj ET Q q 0 0 0 rg BT 432.23 352.50 Td (fect the period-over) Tj ET Q q 0 0 0 rg BT 510.87 352.50 Td (-period ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 340.50 Td (assessment of operating results.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 176.64 340.50 Td ( ) Tj ET Q endstream endobj 125 0 obj <> endobj 126 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (62) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (A) Tj ET Q q 0 0 0 rg BT 56.67 742.10 Td ( reconciliation of net income to ) Tj ET Q q 0 0 0 rg BT 183.85 742.10 Td (Adjusted EBITDA) Tj ET Q q 0 0 0 rg BT 258.57 742.10 Td ( for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.95 742.10 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.53 742.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.03 742.10 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.61 742.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.11 742.10 Td (and pro forma ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.26 742.10 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.84 742.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.58 730.10 Td ( is as follows:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 183.86 730.10 Td ( ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 661.60 208.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 258.50 661.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 331.50 661.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 335.50 661.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 661.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 661.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 661.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 661.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 631.60 208.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 258.50 631.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 331.50 631.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 335.50 631.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 631.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 631.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 631.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 631.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 601.60 208.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 258.50 601.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 331.50 601.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 335.50 601.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 601.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 601.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 601.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 601.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 571.60 208.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 258.50 571.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 331.50 571.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 335.50 571.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 571.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 571.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 571.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 571.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 541.60 208.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 258.50 541.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 331.50 541.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 335.50 541.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 541.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 541.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 541.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 541.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 511.60 208.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 258.50 511.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 331.50 511.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 335.50 511.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 511.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 511.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 511.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 511.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 481.60 208.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 258.50 481.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 331.50 481.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 335.50 481.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 481.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 481.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 481.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 481.60 73.00 -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 258.5 695.6 m 331.5 695.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 258.5 674.6 m 331.5 674.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 335.5 695.6 m 408.5 695.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 335.5 674.6 m 408.5 674.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 695.6 m 412.5 695.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412.5 695.6 m 485.5 695.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412.5 674.6 m 485.5 674.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485.5 695.6 m 489.5 695.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 695.6 m 562.5 695.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 674.6 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 258.5 586.6 m 331.5 586.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 335.5 586.6 m 408.5 586.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412.5 586.6 m 485.5 586.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 586.6 m 562.5 586.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 258.5 466.6 m 331.5 466.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 335.5 466.6 m 408.5 466.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412.5 466.6 m 485.5 466.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 466.6 m 562.5 466.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 258.5 452.6 m 331.5 452.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 258.5 450.6 m 331.5 450.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 335.5 452.6 m 408.5 452.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 335.5 450.6 m 408.5 450.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412.5 452.6 m 485.5 452.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412.5 450.6 m 485.5 450.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 452.6 m 562.5 452.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 450.6 m 562.5 450.6 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 274.45 707.83 Td (Year Ended) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 261.25 699.83 Td (December 31, 2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 428.45 707.83 Td (Year Ended) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 415.25 699.83 Td (December 31, 2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 271.30 686.83 Td (Willis Towers) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 281.60 678.83 Td (Watson) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 348.40 678.83 Td (Legacy Willis) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 416.55 686.83 Td (Pro Forma Towers) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 430.80 678.83 Td (Watson \(i\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 495.90 686.83 Td (Pro Forma Willis) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 499.35 678.83 Td (Towers Watson) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 665.85 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 389.40 665.83 Td (\(in millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 651.27 Td (NET INCOME) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.00 651.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.65 651.27 Td (438) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.00 651.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.65 651.27 Td (384) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.00 651.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 651.27 Td (268) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.00 651.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 651.27 Td (652) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 636.27 Td (\(Benefit from\)/provision for income taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.30 636.32 Td (\(96) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.65 636.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.30 636.32 Td (\(33) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.65 636.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 636.27 Td (103) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 636.27 Td (70) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 621.27 Td (Interest expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.65 621.27 Td (184) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.65 621.27 Td (142) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.65 621.27 Td (22) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 621.27 Td (164) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 606.27 Td (Depreciation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.65 606.27 Td (178) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.65 606.27 Td (95) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.65 606.27 Td (64) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 606.27 Td (159) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 591.27 Td (Amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.65 591.27 Td (591) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.65 591.27 Td (76) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 591.27 Td (459) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 591.27 Td (535) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 576.27 Td (EBITDA) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.15 576.27 Td (1,295) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.65 576.27 Td (664) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 576.27 Td (916) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 576.27 Td (1,580) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 561.27 Td (Restructuring costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.65 561.27 Td (193) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.65 561.27 Td (126) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.65 561.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 561.27 Td (126) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 546.27 Td (Transaction and integration expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.65 546.27 Td (177) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.65 546.27 Td (73) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.30 546.32 Td (\(58) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 546.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 546.27 Td (15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 531.27 Td (Provision for the Stanford litigation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.65 531.27 Td (50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.65 531.27 Td (70) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.65 531.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 531.27 Td (70) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 516.27 Td (Fair value adjustment for deferred revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.65 516.27 Td (58) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.65 516.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.65 516.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 516.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 501.27 Td (Gain on disposal of operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.30 501.32 Td (\(2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.65 501.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.30 501.32 Td (\(25) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.65 501.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.30 501.32 Td (\(55) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 501.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 501.32 Td (\(80) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 501.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 486.27 Td (Venezuela currency devaluation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.65 486.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.65 486.27 Td (30) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.65 486.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 486.27 Td (30) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 471.27 Td (Gain on remeasurement of equity interests) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.65 471.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.30 471.32 Td (\(59) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.65 471.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.65 471.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 471.32 Td (\(59) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 471.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 456.27 Td (Adjusted EBITDA) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.00 456.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.15 456.27 Td (1,771) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.00 456.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.65 456.27 Td (879) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.00 456.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 456.27 Td (803) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.00 456.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 456.27 Td (1,682) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 440.10 Td (____________________) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 150.00 440.10 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 68.00 427.50 Td (\(i\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 427.50 Td ( Includes pro forma adjustments made in the Supplementary Pro Forma Financial Information section in this Form 10-K.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 473.04 427.50 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.50 Td (Adjusted EBITDA) Tj ET Q q 0 0 0 rg BT 124.72 406.50 Td ( for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 156.09 406.50 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 199.68 406.50 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 202.18 406.50 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 280.76 406.50 Td ( was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.31 406.50 Td ($1.8 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 347.43 406.50 Td (, compared to pro forma ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.84 406.50 Td ($1.7 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.95 406.50 Td ( for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.33 406.50 Td (year ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.50 Td (ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 73.88 394.50 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.38 394.50 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 154.96 394.50 Td (, an increase of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 217.98 394.50 Td ($89 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 264.38 394.50 Td (. ) Tj ET Q q 0 0 0 rg BT 269.19 394.50 Td (The increase in ) Tj ET Q q 0 0 0 rg BT 332.22 394.50 Td (Adjusted EBITDA) Tj ET Q q 0 0 0 rg BT 406.94 394.50 Td ( for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.32 394.50 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.90 394.50 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.40 394.50 Td (December31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.50 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 382.50 Td ( was primarily driven by our acquisition of Gras Savoye, the settlement with JL) Tj ET Q q 0 0 0 rg BT 387.35 382.50 Td (T) Tj ET Q q 0 0 0 rg BT 393.28 382.50 Td ( of 28 million \($41 million\) related to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.50 Td (the Fine ) Tj ET Q q 0 0 0 rg BT 84.44 370.50 Td (Art, Jewellery and Specie team, and the performance of our Exchange Solutions segment.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.49 370.50 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 349.50 Td (Adjusted Net Income and ) Tj ET Q q 0 0 0 rg BT 156.86 349.50 Td (Adjusted Diluted Earnings Per Share) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 310.78 349.50 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 328.50 Td (Adjusted Net Income is defined as Net Income ) Tj ET Q q 0 0 0 rg BT 239.39 328.50 Td (Attributable to ) Tj ET Q q 0 0 0 rg BT 300.31 328.50 Td (W) Tj ET Q q 0 0 0 rg BT 309.35 328.50 Td (illis ) Tj ET Q q 0 0 0 rg BT 326.67 328.50 Td (T) Tj ET Q q 0 0 0 rg BT 332.08 328.50 Td (owers ) Tj ET Q q 0 0 0 rg BT 358.28 328.50 Td (W) Tj ET Q q 0 0 0 rg BT 366.92 328.50 Td (atson adjusted for amortization, restructuring ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 316.50 Td (costs, transaction and integration expenses, the fair value adjustment of deferred revenue, gain on disposal of operations and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 304.50 Td (non-recurring items that, in management) Tj ET Q q 0 0 0 rg BT 215.78 304.50 Td (s judgment, significantly af) Tj ET Q q 0 0 0 rg BT 325.02 304.50 Td (fect the period-over) Tj ET Q q 0 0 0 rg BT 403.67 304.50 Td (-period assessment of operating results ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 292.50 Td (and the related tax ef) Tj ET Q q 0 0 0 rg BT 133.66 292.50 Td (fect of those adjustments. ) Tj ET Q q 0 0 0 rg BT 238.18 292.50 Td (This measure is used solely for the purpose of calculating adjusted diluted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 280.50 Td (earnings per share.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 125.24 280.50 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 259.50 Td (Adjusted Diluted Earnings Per Share is used to internally evaluate and assess our core operations and to benchmark our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 247.50 Td (operating results against our competitors. ) Tj ET Q q 0 0 0 rg BT 217.19 247.50 Td (Adjusted Diluted Earnings Per Share is defined as ) Tj ET Q q 0 0 0 rg BT 419.37 247.50 Td (Adjusted Net Income divided by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 235.50 Td (the weighted average number of shares of common stock, diluted.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.53 235.50 Td ( ) Tj ET Q endstream endobj 127 0 obj <> endobj 128 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (63) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (A) Tj ET Q q 0 0 0 rg BT 56.67 742.10 Td ( reconciliation of net income attributable to ) Tj ET Q q 0 0 0 rg BT 232.26 742.10 Td (W) Tj ET Q q 0 0 0 rg BT 241.30 742.10 Td (illis ) Tj ET Q q 0 0 0 rg BT 258.62 742.10 Td (T) Tj ET Q q 0 0 0 rg BT 264.03 742.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 290.23 742.10 Td (W) Tj ET Q q 0 0 0 rg BT 298.87 742.10 Td (atson to adjusted diluted earnings per share for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.98 742.10 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.56 742.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.58 730.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 148.02 730.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 168.02 730.10 Td ( is as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 659.60 362.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 659.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 659.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 659.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 629.60 362.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 629.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 629.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 629.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 599.60 362.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 599.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 599.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 599.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 569.60 362.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 569.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 569.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 569.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 539.60 362.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 539.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 539.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 539.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 509.60 362.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 509.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 509.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 509.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 479.60 362.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 479.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 479.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 479.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 449.60 362.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 449.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 449.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 449.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 419.60 362.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 419.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 419.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 419.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 389.60 362.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 389.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 389.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 389.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 359.60 362.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 359.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 359.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 359.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 329.60 362.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 329.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 329.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 329.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 299.60 362.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 299.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 299.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 299.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 269.60 362.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 269.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 269.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 269.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 239.60 362.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 239.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 239.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 239.60 73.00 -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 412.5 693.6 m 485.5 693.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 693.6 m 562.5 693.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412.5 672.6 m 485.5 672.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 672.6 m 562.5 672.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412.5 479.6 m 485.5 479.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412.5 465.6 m 485.5 465.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412.5 463.6 m 485.5 463.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 479.6 m 562.5 479.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 465.6 m 562.5 465.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 463.6 m 562.5 463.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412.5 239.60000000000002 m 485.5 239.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412.5 225.60000000000002 m 485.5 225.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412.5 223.60000000000002 m 485.5 223.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 239.60000000000002 m 562.5 239.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 225.60000000000002 m 562.5 225.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 223.60000000000002 m 562.5 223.60000000000002 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 442.70 710.83 Td (Year Ended December 31,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 440.50 697.83 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 513.30 697.83 Td (2015 ) Tj ET Q BT /F2 8.00 Tf ET BT /F2 5.20 Tf ET q 0 0 0 rg BT 531.30 701.46 Td (\(ii\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 425.30 684.83 Td (Willis Towers) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 435.60 676.83 Td (Watson) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 502.40 676.83 Td (Legacy Willis) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 420.90 663.83 Td (\(inmillions,exceptper share amounts\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 649.27 Td (NET INCOME ATTRIBUTABLE TO WILLIS TOWERS WATSON) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.00 649.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 649.27 Td (420) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.00 649.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 649.27 Td (373) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 634.27 Td (Adjusted for certain items:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 619.27 Td (Amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 619.27 Td (591) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 619.27 Td (76) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 604.27 Td (Restructuring costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 604.27 Td (193) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 604.27 Td (126) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 589.27 Td (Transaction and integration expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 589.27 Td (177) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 589.27 Td (73) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 574.27 Td (Provision for the Stanford litigation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.65 574.27 Td (50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 574.27 Td (70) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 559.27 Td (Fair value adjustment for deferred revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.65 559.27 Td (58) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 559.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 544.27 Td (Gain on disposal of operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.30 544.32 Td (\(2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 544.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 544.32 Td (\(25) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 544.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 529.27 Td (Venezuela currency devaluation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.65 529.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 529.27 Td (30) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 514.27 Td (Gain on remeasurement of equity interests) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.65 514.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 514.32 Td (\(59) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 514.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 499.27 Td (T) Tj ET Q q 0 0 0 rg BT 67.41 499.27 Td (ax ef) Tj ET Q q 0 0 0 rg BT 86.94 499.27 Td (fect on certain items listed above ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 221.33 503.80 Td (\(i\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.30 499.32 Td (\(320) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 499.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 499.32 Td (\(83) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 499.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 484.27 Td (Deferred tax valuation allowance) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.30 484.32 Td (\(69) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 484.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 484.32 Td (\(96) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 484.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 469.27 Td (Adjusted Net Income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.00 469.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.15 469.27 Td (1,098) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.00 469.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 469.27 Td (485) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 439.27 Td (Weighted average shares of common stock diluted \(millions of shares\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 439.27 Td (138) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 439.27 Td (69) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 409.27 Td (Diluted earnings per share, as reported from continuing operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.00 409.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.15 409.27 Td (3.04) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.00 409.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 409.27 Td (5.41) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 394.27 Td (Adjusted for certain acquisition related items:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 379.27 Td (Amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.15 379.27 Td (4.28) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 379.27 Td (1.10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 364.27 Td (Restructuring costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.15 364.27 Td (1.40) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 364.27 Td (1.83) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 349.27 Td (Transaction and integration expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.15 349.27 Td (1.28) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 349.27 Td (1.06) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 334.27 Td (Provision for the Stanford litigation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.15 334.27 Td (0.36) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 334.27 Td (1.01) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 319.27 Td (Fair value adjustment for deferred revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.15 319.27 Td (0.42) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 319.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 304.27 Td (Gain on disposal of operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.80 304.32 Td (\(0.01) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 304.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.80 304.32 Td (\(0.36) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 304.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 289.27 Td (Venezuela currency devaluation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.65 289.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 289.27 Td (0.43) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 274.27 Td (Gain on remeasurement of equity interests) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.65 274.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.80 274.32 Td (\(0.86) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 274.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 259.27 Td (T) Tj ET Q q 0 0 0 rg BT 67.41 259.27 Td (ax ef) Tj ET Q q 0 0 0 rg BT 86.94 259.27 Td (fect on certain items listed above ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 221.33 263.80 Td (\(i\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.80 259.32 Td (\(2.31) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 259.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.80 259.32 Td (\(1.20) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 259.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 244.27 Td (Deferred tax valuation allowance) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.80 244.32 Td (\(0.50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 244.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.80 244.32 Td (\(1.39) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 244.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 229.27 Td (Adjusted Diluted Earnings Per Share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.00 229.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.15 229.27 Td (7.96) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.00 229.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 229.27 Td (7.03) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 213.10 Td (____________________) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 150.00 213.10 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 68.00 200.50 Td (\(i\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 200.50 Td (The tax ef) Tj ET Q q 0 0 0 rg BT 118.28 200.50 Td (fect was calculated using the statutory tax rate applicable to the item being adjusted for in the jurisdiction from which each adjustment ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 190.90 Td (arises.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.21 190.90 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 68.00 178.30 Td (\(ii\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 178.30 Td (W) Tj ET Q q 0 0 0 rg BT 92.91 178.30 Td (e have not presented this measure on a comparative pro forma basis because it is not practical to present the 2015 adjusted income tax ef) Tj ET Q q 0 0 0 rg BT 529.50 178.30 Td (fects on a ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 168.70 Td (pro forma basis, as making tax-ef) Tj ET Q q 0 0 0 rg BT 192.93 168.70 Td (fected non-GAAP) Tj ET Q q 0 0 0 rg BT 250.62 168.70 Td ( adjustments on a proforma basis would be highly speculative in nature. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 482.35 168.70 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 147.70 Td (Adjusted Income Before T) Tj ET Q q 0 0 0 rg BT 157.69 147.70 Td (axes and ) Tj ET Q q 0 0 0 rg BT 196.21 147.70 Td (Adjusted Income T) Tj ET Q q 0 0 0 rg BT 273.62 147.70 Td (axes/T) Tj ET Q q 0 0 0 rg BT 299.92 147.70 Td (ax Rate) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 331.31 147.70 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 126.70 Td (Adjusted Income Before ) Tj ET Q q 0 0 0 rg BT 150.62 126.70 Td (T) Tj ET Q q 0 0 0 rg BT 156.03 126.70 Td (axes is defined as Income from continuing operations before income taxes and interest in earnings of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 114.70 Td (associates adjusted for amortization, restructuring costs, transaction and integration expenses, the fair value adjustment of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 102.70 Td (deferred revenue, gain on disposal of operations and non-recurring items that, in management) Tj ET Q q 0 0 0 rg BT 427.65 102.70 Td (s judgment, significantly af) Tj ET Q q 0 0 0 rg BT 536.89 102.70 Td (fect ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 90.70 Td (the period-over) Tj ET Q q 0 0 0 rg BT 111.16 90.70 Td (-period assessment of operating results. ) Tj ET Q q 0 0 0 rg BT 271.13 90.70 Td (Adjusted income before taxes is used solely for the purpose of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 78.70 Td (calculating the adjusted income tax rate.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 211.04 78.70 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 57.70 Td (Adjusted Income ) Tj ET Q q 0 0 0 rg BT 120.91 57.70 Td (T) Tj ET Q q 0 0 0 rg BT 126.32 57.70 Td (ax Rate is defined as Provision for income taxes adjusted for taxes on certain items of amortization, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 45.70 Td (restructuring costs, transaction and integration expenses, the fair value adjustment for deferred revenue, gain on disposal of ) Tj ET Q endstream endobj 129 0 obj <> endobj 130 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (64) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (operations and non-recurring items that, in management) Tj ET Q q 0 0 0 rg BT 276.88 742.10 Td (s judgment, significantly af) Tj ET Q q 0 0 0 rg BT 386.12 742.10 Td (fect the period-over) Tj ET Q q 0 0 0 rg BT 464.77 742.10 Td (-period assessment of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (operating results, divided by ) Tj ET Q q 0 0 0 rg BT 165.82 730.10 Td (Adjusted Income Before ) Tj ET Q q 0 0 0 rg BT 266.44 730.10 Td (T) Tj ET Q q 0 0 0 rg BT 271.85 730.10 Td (axes. ) Tj ET Q q 0 0 0 rg BT 294.06 730.10 Td (Adjusted income taxes is used solely for the purpose of calculating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (the ) Tj ET Q q 0 0 0 rg BT 64.17 718.10 Td (Adjusted Income ) Tj ET Q q 0 0 0 rg BT 135.08 718.10 Td (T) Tj ET Q q 0 0 0 rg BT 140.49 718.10 Td (ax Rate.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 173.25 718.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 697.10 Td (Management believes the ) Tj ET Q q 0 0 0 rg BT 154.13 697.10 Td (Adjusted Income ) Tj ET Q q 0 0 0 rg BT 225.04 697.10 Td (T) Tj ET Q q 0 0 0 rg BT 230.45 697.10 Td (ax Rate presents a rate that is more closely aligned to the rate we would incur if ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 685.10 Td (not for the reduction of pre-tax income of the adjusted items, which are not core to our current and future operations.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.06 685.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (A) Tj ET Q q 0 0 0 rg BT 56.67 670.10 Td ( reconciliation of income from continuing operations before income taxes and interest in earnings of associates to adjusted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (income and provision for income taxes to adjusted income taxes for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.25 658.10 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.84 658.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.34 658.10 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.92 658.10 Td ( is as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 613.60 415.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 465.50 613.60 97.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 573.60 415.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 465.50 573.60 97.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 543.60 415.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 465.50 543.60 97.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 513.60 415.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 465.50 513.60 97.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 483.60 415.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 465.50 483.60 97.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 453.60 415.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 465.50 453.60 97.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 423.60 415.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 465.50 423.60 97.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 393.60 415.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 465.50 393.60 97.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 363.60 415.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 465.50 363.60 97.00 -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 465.5 626.6 m 562.5 626.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 465.5 483.6 m 562.5 483.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 465.5 469.6 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 465.5 467.6 m 562.5 467.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 465.5 408.6 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 465.5 394.6 m 562.5 394.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 465.5 392.6 m 562.5 392.6 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 493.45 638.83 Td (Y) Tj ET Q q 0 0 0 rg BT 498.34 638.83 Td (ear) Tj ET Q q 0 0 0 rg BT 509.30 638.83 Td ( Ended ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 474.25 630.83 Td (December) Tj ET Q q 0 0 0 rg BT 508.75 630.83 Td ( 31, 2016 \(iii\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 603.27 Td (INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES AND INTEREST IN) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 593.27 Td (EARNINGS OF ASSOCIATES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.00 593.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.30 593.27 Td (340) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 578.27 Td (Adjusted for certain items:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 563.27 Td (Amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.30 563.27 Td (591) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 548.27 Td (Restructuring costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.30 548.27 Td (193) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 533.27 Td (Transaction and integration expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.30 533.27 Td (177) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 518.27 Td (Provision for the Stanford litigation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 518.27 Td (50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 503.27 Td (Fair value adjustment for deferred revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 503.27 Td (58) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 488.27 Td (Gain on disposal of operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.95 488.27 Td (\(2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 488.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 473.27 Td (Adjusted income before taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.00 473.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.80 473.27 Td (1,407) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 443.27 Td (Provision for income taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.00 443.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.95 443.27 Td (\(96) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 443.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 428.27 Td (Deferred tax valuation allowance) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 428.27 Td (69) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 413.27 Td (T) Tj ET Q q 0 0 0 rg BT 58.41 413.27 Td (ax ef) Tj ET Q q 0 0 0 rg BT 77.94 413.27 Td (fect on certain items listed above ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 212.33 417.80 Td (\(i\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.30 413.27 Td (320) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 398.27 Td (Adjusted income taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.00 398.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.30 398.27 Td (293) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 383.27 Td (Tax) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 368.27 Td (GAAP) Tj ET Q q 0 0 0 rg BT 88.86 368.27 Td ( tax rate ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 123.56 372.80 Td (\(ii\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.45 368.27 Td (\(28.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 368.27 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 353.27 Td (Adjusted income tax rate ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 164.74 357.80 Td (\(ii\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 353.27 Td (20.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 353.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 337.10 Td (____________________) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 150.00 337.10 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 68.00 324.50 Td (\(i\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 324.50 Td (The tax ef) Tj ET Q q 0 0 0 rg BT 118.28 324.50 Td (fect and ef) Tj ET Q q 0 0 0 rg BT 151.89 324.50 Td (fective tax rate were calculated using the statutory tax rate applicable to the item being adjusted for in the jurisdiction from ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 314.90 Td (which each adjustment arises.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 181.52 314.90 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 68.00 302.30 Td (\(ii\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 302.30 Td (These ef) Tj ET Q q 0 0 0 rg BT 113.17 302.30 Td (fective tax rates are calculated using extended values from our consolidated statement of operations for this reconciliation, and are therefore ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 292.70 Td (more precise tax rates than can be calculated from rounded values.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 299.02 292.70 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 68.00 280.10 Td (\(iii\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 280.10 Td (W) Tj ET Q q 0 0 0 rg BT 92.91 280.10 Td (e have not presented this measure on a comparative basis because it is not practical to present the 2015 adjusted income tax rate on a pro forma ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 270.50 Td (basis, as making tax-ef) Tj ET Q q 0 0 0 rg BT 159.17 270.50 Td (fected non-GAAP) Tj ET Q q 0 0 0 rg BT 216.86 270.50 Td ( adjustments on a proforma basis would be highly speculative in nature. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 448.58 270.50 Td ( ) Tj ET Q endstream endobj 131 0 obj <> endobj 132 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (65) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (Free Cash Flow) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 116.68 742.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 721.25 Td (Free Cash Flow is used to evaluate our liquidity) Tj ET Q q 0 0 0 rg BT 240.99 721.25 Td (, and is defined as cash flows from operating activities less cash used to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 709.25 Td (purchase fixed assets and software for internal use.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 253.81 709.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 688.25 Td (A) Tj ET Q q 0 0 0 rg BT 56.67 688.25 Td ( summary of our cash flows from operating, investing and financing activities, along with a reconciliation of cash flows from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 676.25 Td (operating activities to Free Cash Flow is as follows:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 257.75 676.25 Td ( ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 626.75 330.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 626.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 626.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 626.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 626.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 626.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 596.75 330.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 596.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 596.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 596.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 596.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 596.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 566.75 330.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 566.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 566.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 566.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 566.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 566.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 536.75 330.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 536.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 536.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 536.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 536.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 536.75 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 380.5 652.75 m 438.5 652.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 652.75 m 442.5 652.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 652.75 m 500.5 652.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500.5 652.75 m 504.5 652.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 652.75 m 562.5 652.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 639.75 m 438.5 639.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 639.75 m 500.5 639.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 639.75 m 562.5 639.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 582.75 m 438.5 582.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 580.75 m 438.5 580.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 582.75 m 500.5 582.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 580.75 m 500.5 580.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 582.75 m 562.5 582.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 580.75 m 562.5 580.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 536.75 m 438.5 536.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 522.75 m 438.5 522.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 520.75 m 438.5 520.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 536.75 m 500.5 536.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 522.75 m 500.5 522.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 520.75 m 500.5 520.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 536.75 m 562.5 536.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 522.75 m 562.5 522.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 520.75 m 562.5 520.75 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 425.95 656.98 Td (Years ended December 31,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 401.00 643.98 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 463.00 643.98 Td (2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 525.00 643.98 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 450.40 630.98 Td (\(inmillions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 616.42 Td (Net cash from operating activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 616.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 616.42 Td (920) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 616.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 616.42 Td (243) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 616.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 616.42 Td (477) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 601.42 Td (Net cash from/\(used in\) investing activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 601.42 Td (195) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.30 601.47 Td (\(943) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 601.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 601.47 Td (\(276) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 601.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 586.42 Td (Net cash \(used in\)/from financing activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 586.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.30 586.47 Td (\(762) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 586.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 586.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 586.42 Td (641) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 586.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 586.47 Td (\(323) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 586.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 556.42 Td (Net cash from operating activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 556.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 556.42 Td (920) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 556.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 556.42 Td (243) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 556.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 556.42 Td (477) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 541.42 Td (Less: Additions to fixed assets and software for internal use) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.30 541.47 Td (\(218) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 541.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.30 541.47 Td (\(146) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 541.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 541.47 Td (\(113) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 541.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 526.42 Td (Free Cash Flow) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 526.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 526.42 Td (702) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 526.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 526.42 Td (97) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 526.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 526.42 Td (364) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 501.25 Td (Free cash flow for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 140.24 501.25 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 183.83 501.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 186.33 501.25 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 264.91 501.25 Td ( was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 285.46 501.25 Td ($702 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.86 501.25 Td (, compared to free cash flow of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.02 501.25 Td ($97 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.42 501.25 Td ( for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.79 501.25 Td (year ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 489.25 Td (ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 73.88 489.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.38 489.25 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 154.96 489.25 Td (. ) Tj ET Q q 0 0 0 rg BT 159.78 489.25 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 177.83 489.25 Td ($677 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 229.22 489.25 Td ( increase in cash from operations in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.61 489.25 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.19 489.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.69 489.25 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.28 489.25 Td ( compared ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 477.25 Td (to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.00 477.25 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.58 477.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 121.08 477.25 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 199.66 477.25 Td ( was the primary driver for the increase in free cash flow period-over) Tj ET Q q 0 0 0 rg BT 475.45 477.25 Td (-period, and was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 465.25 Td (primarily due to cash from operations from Legacy ) Tj ET Q q 0 0 0 rg BT 256.97 465.25 Td (T) Tj ET Q q 0 0 0 rg BT 262.38 465.25 Td (owers ) Tj ET Q q 0 0 0 rg BT 288.58 465.25 Td (W) Tj ET Q q 0 0 0 rg BT 297.22 465.25 Td (atson and Gras Savoye.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.09 465.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 444.25 Td (Critical ) Tj ET Q q 0 0 0 rg BT 84.71 444.25 Td (Accounting Policies and Estimates) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 423.25 Td (These consolidated financial statements conform to U.S. GAAP) Tj ET Q q 0 0 0 rg BT 304.67 423.25 Td (, which requires management to make estimates and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 411.25 Td (assumptions that af) Tj ET Q q 0 0 0 rg BT 127.03 411.25 Td (fect the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities at the date ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 399.25 Td (of the financial statements and the reported amounts of revenues and expenses during the reporting period. Our estimates, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 387.25 Td (judgments and assumptions are continually evaluated based on available information and experience. Because of the use of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 375.25 Td (estimates inherent in the financial reporting process, actual results could dif) Tj ET Q q 0 0 0 rg BT 352.22 375.25 Td (fer from those estimates. ) Tj ET Q q 0 0 0 rg BT 453.40 375.25 Td (The areas that we believe ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 363.25 Td (are critical accounting policies include valuation of billed and unbilled receivables from clients, discretionary compensation, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 351.25 Td (income taxes, commitments, contingencies and accrued liabilities, pension assumptions, and goodwill and intangible assets. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 339.25 Td (The critical accounting policies discussed below involve making dif) Tj ET Q q 0 0 0 rg BT 321.97 339.25 Td (ficult, subjective or complex accounting estimates that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 327.25 Td (could have a material ef) Tj ET Q q 0 0 0 rg BT 145.88 327.25 Td (fect on our financial condition and results of operations. ) Tj ET Q q 0 0 0 rg BT 372.30 327.25 Td (These critical accounting policies require us to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 315.25 Td (make assumptions about matters that are highly uncertain at the time of the estimate or assumption. Dif) Tj ET Q q 0 0 0 rg BT 463.33 315.25 Td (ferent estimates that we ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 303.25 Td (could have used, or changes in estimates that are reasonably likely to occur) Tj ET Q q 0 0 0 rg BT 350.33 303.25 Td (, may have a material ef) Tj ET Q q 0 0 0 rg BT 446.21 303.25 Td (fect on our financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 291.25 Td (condition and results of operations.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 270.25 Td (V) Tj ET Q q 0 0 0 rg BT 55.56 270.25 Td (aluation of Billed and Unbilled Receivables from Clients) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 249.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 249.25 Td (e maintain allowances for doubtful accounts to reflect estimated losses resulting from the clients) Tj ET Q q 0 0 0 rg BT 446.39 249.25 Td ( failure to pay for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 237.25 Td (services after the services have been rendered, including allowances when client disputes may exist. ) Tj ET Q q 0 0 0 rg BT 452.45 237.25 Td (The related provision is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 225.25 Td (recorded as a reduction to revenue. Our allowance policy is based on the aging of the billed and unbilled client receivables and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 213.25 Td (has been developed based on the write-of) Tj ET Q q 0 0 0 rg BT 215.31 213.25 Td (f history) Tj ET Q q 0 0 0 rg BT 248.27 213.25 Td (. Facts and circumstances such as the average length of time the receivables ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 201.25 Td (are past due, general market conditions, current economic trends and our clients) Tj ET Q q 0 0 0 rg BT 372.19 201.25 Td ( ability to pay may cause fluctuations in our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 189.25 Td (valuation of billed and unbilled receivables.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 168.25 Td (Discretionary Compensation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 147.25 Td (Our compensation program includes a discretionary bonus that is determined by management and has historically been paid ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 135.25 Td (once per fiscal year in the form of cash and/or deferred stock units after our annual operating results are finalized.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 114.25 Td (An estimated annual bonus amount is initially developed at the beginning of each fiscal year in conjunction with our budgeting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 102.25 Td (process. Estimated annual operating performance is reviewed quarterly and the discretionary annual bonus amount is then ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 90.25 Td (adjusted, if necessary) Tj ET Q q 0 0 0 rg BT 135.15 90.25 Td (, by management to reflect changes in the forecast of pre-bonus profitability for the year) Tj ET Q q 0 0 0 rg BT 487.52 90.25 Td (.) Tj ET Q endstream endobj 133 0 obj <> endobj 134 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (66) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (Income T) Tj ET Q q 0 0 0 rg BT 88.80 742.25 Td (axes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 721.25 Td (The Company recognizes deferred tax assets and liabilities for the estimated future tax consequences of events attributable to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 709.25 Td (dif) Tj ET Q q 0 0 0 rg BT 60.93 709.25 Td (ferences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 697.25 Td (operating and capital loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted rates in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 685.25 Td (ef) Tj ET Q q 0 0 0 rg BT 57.59 685.25 Td (fect for the year in which the dif) Tj ET Q q 0 0 0 rg BT 186.52 685.25 Td (ferences are expected to be recovered or settled. ) Tj ET Q q 0 0 0 rg BT 380.95 685.25 Td (The ef) Tj ET Q q 0 0 0 rg BT 406.58 685.25 Td (fect on deferred tax assets and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 673.25 Td (liabilities of changes in tax rates is recognized in the statement of operations in the period in which the change is enacted. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 661.25 Td (Deferred tax assets are reduced through the establishment of a valuation allowance at such time as, based on available ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 649.25 Td (evidence, it is more likely than not that the deferred tax assets will not be realized. ) Tj ET Q q 0 0 0 rg BT 381.37 649.25 Td (The Company adjusts valuation allowances ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 637.25 Td (to measure deferred tax assets at the amount considered realizable in future periods if the Company) Tj ET Q q 0 0 0 rg BT 450.13 637.25 Td (s facts and assumptions ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 625.25 Td (change. In making such determination, the Company considers all available positive and negative evidence, including future ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 613.25 Td (reversals of existing taxable temporary dif) Tj ET Q q 0 0 0 rg BT 218.93 613.25 Td (ferences, projected future taxable income, tax planning strategies and the results of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 601.25 Td (recent financial operations. ) Tj ET Q q 0 0 0 rg BT 160.88 601.25 Td (W) Tj ET Q q 0 0 0 rg BT 169.52 601.25 Td (e place more reliance on evidence that is objectively verifiable.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 580.25 Td (Commitments, Contingencies and ) Tj ET Q q 0 0 0 rg BT 191.32 580.25 Td (Accrued Liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 559.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 559.25 Td (e have established provisions against various actual and potential claims, lawsuits and other proceedings relating principally ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 547.25 Td (to alleged errors and omissions in connection with the placement of insurance and reinsurance and consulting services in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 535.25 Td (ordinary course of business. Such provisions cover claims that have been reported but not paid and also claims that have been ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 523.25 Td (incurred but not reported. ) Tj ET Q q 0 0 0 rg BT 154.51 523.25 Td (These provisions are established based on actuarial estimates together with individual case reviews ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 511.25 Td (and are believed to be adequate in the light of current information and legal advice. In certain cases, where a range of loss ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 499.25 Td (exists, we accrue the minimum amount in the range if no amount within the range is a better estimate than any other amount. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.25 Td (See ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.94 478.25 Td (Note 13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 98.88 478.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 113.88 478.25 Td (Commitments and Contingencies) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 247.20 478.25 Td ( in Item 8 within this ) Tj ET Q q 0 0 0 rg BT 332.75 478.25 Td (Annual Report on Form 10-K. ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 457.25 Td (Pension ) Tj ET Q q 0 0 0 rg BT 85.47 457.25 Td (Assumptions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 436.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 436.25 Td (e maintain defined benefit pension plans for employees in several countries, with the most significant defined benefit plans ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 424.25 Td (of) Tj ET Q q 0 0 0 rg BT 58.15 424.25 Td (fered in the U.S. and U.K. Our disclosures in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.12 424.25 Td (Note 12) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.05 424.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 290.05 424.25 Td (Retirement Benefits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.31 424.25 Td ( contain additional information about our other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 412.25 Td (less significant but material retirement plans. ) Tj ET Q q 0 0 0 rg BT 232.27 412.25 Td (W) Tj ET Q q 0 0 0 rg BT 241.30 412.25 Td (ithin our critical accounting policy discussion, we have excluded analysis for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 400.25 Td (plans outside of those noted in the description below) Tj ET Q q 0 0 0 rg BT 259.87 400.25 Td (, as any variance of recorded information based on management) Tj ET Q q 0 0 0 rg BT 518.65 400.25 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 388.25 Td (estimates would be immaterial. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 367.25 Td (Descriptions of our U.S. and U.K. plans, which comprise 91% of our projected benefit obligations and 94% of our plan assets, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 355.25 Td (are below:) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 68.00 334.25 Td (United States) 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 86 315.9169921875 m 141.7861328125 315.9169921875 l s q 0 0 0 rg BT 86.00 317.25 Td (Legacy ) Tj ET Q q 0 0 0 rg BT 117.74 317.25 Td (W) Tj ET Q q 0 0 0 rg BT 126.78 317.25 Td (illis) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 141.79 317.25 Td ( ) Tj ET Q q 0 0 0 rg BT 151.61 317.25 Td (This plan covers approximately one third of the Legacy ) Tj ET Q q 0 0 0 rg BT 376.07 317.25 Td (W) Tj ET Q q 0 0 0 rg BT 385.11 317.25 Td (illis employees in the United States and is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 305.25 Td (now frozen with no new entrants nor future accruals.) 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 86 286.9169921875 m 181.6005859375 286.9169921875 l s q 0 0 0 rg BT 86.00 288.25 Td (Legacy ) Tj ET Q q 0 0 0 rg BT 117.74 288.25 Td (T) Tj ET Q q 0 0 0 rg BT 123.15 288.25 Td (owers ) Tj ET Q q 0 0 0 rg BT 149.35 288.25 Td (W) Tj ET Q q 0 0 0 rg BT 157.99 288.25 Td (atson ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 181.60 288.25 Td ( ) Tj ET Q q 0 0 0 rg BT 188.92 288.25 Td (This plan covers substantially all Legacy ) Tj ET Q q 0 0 0 rg BT 354.80 288.25 Td (T) Tj ET Q q 0 0 0 rg BT 360.21 288.25 Td (owers ) Tj ET Q q 0 0 0 rg BT 386.42 288.25 Td (W) Tj ET Q q 0 0 0 rg BT 395.05 288.25 Td (atson U.S. employees, with the exception ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 276.25 Td (of certain employees of our Exchange Solutions segment. Prior to December31, 2010, employees earned benefits ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 264.25 Td (under their original plan formulas, which were frozen on December31, 201) Tj ET Q q 0 0 0 rg BT 388.58 264.25 Td (1. Beginning January1, 2012, all Legacy ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 252.25 Td (T) Tj ET Q q 0 0 0 rg BT 91.41 252.25 Td (owers ) Tj ET Q q 0 0 0 rg BT 117.61 252.25 Td (W) Tj ET Q q 0 0 0 rg BT 126.25 252.25 Td (atson employees, including named executive of) Tj ET Q q 0 0 0 rg BT 316.01 252.25 Td (ficers, accrue qualified and non-qualified benefits under a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 240.25 Td (stable value pension design. ) 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 86 221.9169921875 m 142.9384765625 221.9169921875 l s q 0 0 0 rg BT 86.00 223.25 Td (2017 Changes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.94 223.25 Td ( ) Tj ET Q q 0 0 0 rg BT 152.76 223.25 Td (The Legacy ) Tj ET Q q 0 0 0 rg BT 202.55 223.25 Td (T) Tj ET Q q 0 0 0 rg BT 207.96 223.25 Td (owers ) Tj ET Q q 0 0 0 rg BT 234.16 223.25 Td (W) Tj ET Q q 0 0 0 rg BT 242.80 223.25 Td (atson plan) Tj ET Q q 0 0 0 rg BT 286.40 223.25 Td (s current non-contributory stable value formula is not available to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 211.25 Td (employees hired or rehired on or after January 1, 2017. Beginning July 1, 2017, Legacy ) Tj ET Q q 0 0 0 rg BT 438.78 211.25 Td (T) Tj ET Q q 0 0 0 rg BT 444.19 211.25 Td (owers ) Tj ET Q q 0 0 0 rg BT 470.39 211.25 Td (W) Tj ET Q q 0 0 0 rg BT 479.03 211.25 Td (atson employees ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 199.25 Td (participating in the Plan will accrue benefits under a new non-contributory stable value pension formula. ) Tj ET Q q 0 0 0 rg BT 506.43 199.25 Td (Also ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 187.25 Td (beginning July 1, 2017, the Plan will cover newly eligible employees, including employees hired on or after January 1, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 175.25 Td (2017, and employees from Legacy ) Tj ET Q q 0 0 0 rg BT 226.88 175.25 Td (W) Tj ET Q q 0 0 0 rg BT 235.92 175.25 Td (illis and the Exchange Solutions segment, who elect to participate \(who do not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 163.25 Td (opt out\) under a new contributory stable value pension formula.) Tj ET Q endstream endobj 135 0 obj <> endobj 136 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (67) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 68.00 742.10 Td (United Kingdom) 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 86 723.7669921875 m 141.7861328125 723.7669921875 l s q 0 0 0 rg BT 86.00 725.10 Td (Legacy ) Tj ET Q q 0 0 0 rg BT 117.74 725.10 Td (W) Tj ET Q q 0 0 0 rg BT 126.78 725.10 Td (illis) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 141.79 725.10 Td ( ) Tj ET Q q 0 0 0 rg BT 151.61 725.10 Td (This plan covers approximately one third of the Legacy ) Tj ET Q q 0 0 0 rg BT 376.07 725.10 Td (W) Tj ET Q q 0 0 0 rg BT 385.11 725.10 Td (illis employees in the United Kingdom. ) Tj ET Q q 0 0 0 rg BT 545.19 725.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 713.10 Td (plan is now closed to new entrants. New employees in the UnitedKingdom are of) Tj ET Q q 0 0 0 rg BT 415.74 713.10 Td (fered the opportunity to join a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 701.10 Td (defined contribution plan. ) 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 86 682.7669921875 m 179.1005859375 682.7669921875 l s q 0 0 0 rg BT 86.00 684.10 Td (Legacy ) Tj ET Q q 0 0 0 rg BT 117.74 684.10 Td (T) Tj ET Q q 0 0 0 rg BT 123.15 684.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 149.35 684.10 Td (W) Tj ET Q q 0 0 0 rg BT 157.99 684.10 Td (atson) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 179.10 684.10 Td ( Benefit accruals earned under the Legacy ) Tj ET Q q 0 0 0 rg BT 357.16 684.10 Td (W) Tj ET Q q 0 0 0 rg BT 365.80 684.10 Td (atson ) Tj ET Q q 0 0 0 rg BT 389.23 684.10 Td (W) Tj ET Q q 0 0 0 rg BT 398.07 684.10 Td (yatt defined benefit plan \(predominantly ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 672.10 Td (pension benefits\) ceased on February 28, 2015, although benefits earned prior to January 1, 2008 retain a link to salary ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 660.10 Td (until the employee leaves the Company) Tj ET Q q 0 0 0 rg BT 243.36 660.10 Td (. Benefit accruals earned under the legacy ) Tj ET Q q 0 0 0 rg BT 415.59 660.10 Td (T) Tj ET Q q 0 0 0 rg BT 421.00 660.10 Td (owers Perrin defined benefit plan ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 648.10 Td (\(predominantly lump sum benefits\) were frozen on March31, 2008. ) Tj ET Q q 0 0 0 rg BT 362.88 648.10 Td (All participants now accrue defined contribution ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 636.10 Td (benefits. ) 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 86 617.7669921875 m 142.9189453125 617.7669921875 l s q 0 0 0 rg BT 86.00 619.10 Td (Legacy Miller) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.92 619.10 Td ( ) Tj ET Q q 0 0 0 rg BT 152.74 619.10 Td (The plan provides retirement benefits based on members) Tj ET Q q 0 0 0 rg BT 382.20 619.10 Td ( salaries at the point at which they ceased to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 607.10 Td (accrue benefits under the scheme. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (The determination of the Company) Tj ET Q q 0 0 0 rg BT 193.30 586.10 Td (s obligations and annual expense under the plans is based on a number of assumptions that, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (given the longevity of the plans, are long-term in focus. ) Tj ET Q q 0 0 0 rg BT 274.39 574.10 Td (A) Tj ET Q q 0 0 0 rg BT 281.06 574.10 Td ( change in one or a combination of these assumptions could have a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (material impact on our projected benefit obligation. However) Tj ET Q q 0 0 0 rg BT 295.07 562.10 Td (, certain of these changes, such as changes in the discount rates ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (and other actuarial assumptions, are not recognized immediately in net income, but are instead recorded in other comprehensive ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (income. ) Tj ET Q q 0 0 0 rg BT 84.25 538.10 Td (The accumulated gains and losses not yet recognized in net income are amortized into net income as a component of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (the net periodic benefit cost/\(credit\) based on the average working life expectancy of each of the plan) Tj ET Q q 0 0 0 rg BT 458.15 526.10 Td (s active participants to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (the extent that the net gains or losses as of the beginning of the year exceed 10% of the greater of the market-related value of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (plan assets or the projected benefit obligation. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 481.10 Td (W) Tj ET Q q 0 0 0 rg BT 59.04 481.10 Td (illis ) Tj ET Q q 0 0 0 rg BT 76.36 481.10 Td (T) Tj ET Q q 0 0 0 rg BT 81.77 481.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 107.97 481.10 Td (W) Tj ET Q q 0 0 0 rg BT 116.61 481.10 Td (atson considers several factors prior to the start of each fiscal year when determining the appropriate annual ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 469.10 Td (assumptions, including economic forecasts, relevant benchmarks, historical trends, portfolio composition and peer company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 457.10 Td (comparisons. ) Tj ET Q q 0 0 0 rg BT 105.37 457.10 Td (These assumptions, used to determine our pension liabilities and pension expense are reviewed annually by senior ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 445.10 Td (management and changed when appropriate. ) Tj ET Q q 0 0 0 rg BT 230.48 445.10 Td (A) Tj ET Q q 0 0 0 rg BT 237.15 445.10 Td ( discount rate will be changed annually if underlying rates have moved, whereas ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 433.10 Td (the expected long-term return on assets will be changed less frequently as longer term trends in asset returns emer) Tj ET Q q 0 0 0 rg BT 505.22 433.10 Td (ge or long ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 421.10 Td (term tar) Tj ET Q q 0 0 0 rg BT 81.19 421.10 Td (get asset allocations are revised. ) Tj ET Q q 0 0 0 rg BT 212.07 421.10 Td (T) Tj ET Q q 0 0 0 rg BT 217.48 421.10 Td (o calculate the discount rate, we use the granular approach to determining service cost ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 409.10 Td (and interest cost. ) Tj ET Q q 0 0 0 rg BT 119.80 409.10 Td (W) Tj ET Q q 0 0 0 rg BT 128.44 409.10 Td (e began using this method to calculate the discount rate in 2016. ) Tj ET Q q 0 0 0 rg BT 387.36 409.10 Td (This was treated as a change in accounting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 397.10 Td (estimate, and resulted in a credit of $51 million included in our total net periodic benefit income. ) Tj ET Q q 0 0 0 rg BT 439.43 397.10 Td (The expected rate of return ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 385.10 Td (assumptions for all plans are supported by an analysis of the weighted-average yield expected to be achieved with the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 373.10 Td (anticipated makeup of investments. Other material assumptions include rates of participant mortality) Tj ET Q q 0 0 0 rg BT 452.01 373.10 Td (, and the expected long-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 361.10 Td (term rate of compensation and pension increases.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 340.10 Td (Funding is based on actuarially determined contributions and is limited to amounts that are currently deductible for tax ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 328.10 Td (purposes, or as agreed to with the plan trustees for the U.K. plans. Since funding calculations are based on dif) Tj ET Q q 0 0 0 rg BT 488.31 328.10 Td (ferent ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 316.10 Td (measurements than those used for accounting purposes, pension contributions are not equal to net periodic benefit cost. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 295.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 295.10 Td (e recorded a combined $124 million net periodic benefit income for our U.S. and U.K. plans for the year ended December 31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 283.10 Td (2016. For the U.S. and U.K. funded plans, the following table presents our estimated net periodic benefit income for 2017 and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 271.10 Td (the impact to both plans of a 0.25% increase and decrease to both the expected return on assets \(EROA) Tj ET Q q 0 0 0 rg BT 464.58 271.10 Td (\) and the discount rate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 259.10 Td (assumptions, and the projected benefit obligations as of December 31, 2016 and the impact of a 0.25% increase and decrease to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 247.10 Td (the discount rates:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 191.60 206.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 255.50 191.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 313.50 191.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.50 191.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.50 191.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 379.50 191.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.50 191.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.50 191.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.50 191.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 191.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 161.60 206.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 255.50 161.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 313.50 161.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.50 161.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.50 161.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 379.50 161.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.50 161.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.50 161.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.50 161.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 161.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 131.60 206.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 255.50 131.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 313.50 131.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.50 131.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.50 131.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 379.50 131.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.50 131.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.50 131.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.50 131.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 131.60 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 317.5 206.60000000000002 m 375.5 206.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375.5 206.60000000000002 m 379.5 206.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379.5 206.60000000000002 m 437.5 206.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 206.60000000000002 m 499.5 206.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499.5 206.60000000000002 m 503.5 206.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 206.60000000000002 m 561.5 206.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 255.5 191.60000000000002 m 313.5 191.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 317.5 191.60000000000002 m 375.5 191.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379.5 191.60000000000002 m 437.5 191.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 191.60000000000002 m 499.5 191.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 191.60000000000002 m 561.5 191.60000000000002 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 271.35 211.83 Td (Totals -) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 271.15 203.83 Td (current) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 268.20 195.83 Td (estimates) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 331.10 218.83 Td (Impact of 0.25% change to) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 365.65 210.83 Td (EROA) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 455.10 218.83 Td (Impact of 0.25% change to) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 478.65 210.83 Td (discount rate) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 331.60 195.83 Td (Increase) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 392.75 195.83 Td (Decrease) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 455.60 195.83 Td (Increase) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 516.75 195.83 Td (Decrease) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.00 181.06 Td (Estimated 2017 \(income\):) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 58.00 166.06 Td (U.S. Plans) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.00 166.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.30 166.32 Td (\(27) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.65 166.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.00 166.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.30 166.32 Td (\(8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.65 166.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.00 166.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.65 166.27 Td (8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.00 166.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.65 166.27 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.00 166.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.30 166.32 Td (\(2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 166.27 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 58.00 151.06 Td (U.K. Plans) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.00 151.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.30 151.32 Td (\(119) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.65 151.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.00 151.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.30 151.32 Td (\(11) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.65 151.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.00 151.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.65 151.27 Td (11) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.00 151.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.30 151.32 Td (\(11) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 151.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.00 151.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 151.27 Td (12) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.00 136.06 Td (Projected benefit obligation at December 31, 2016:) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 58.00 121.06 Td (U.S. Plans) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.00 121.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.15 121.27 Td (4,169) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.30 121.27 Td (N/A) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.30 121.27 Td (N/A) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.00 121.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.30 121.32 Td (\(125) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 121.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.00 121.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 121.27 Td (132) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 58.00 106.06 Td (U.K. Plans) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.00 106.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.15 106.27 Td (3,899) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.30 106.27 Td (N/A) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.30 106.27 Td (N/A) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.00 106.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.30 106.32 Td (\(190) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 106.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.00 106.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 106.27 Td (205) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 81.10 Td (Economic factors and conditions often af) Tj ET Q q 0 0 0 rg BT 214.49 81.10 Td (fect multiple assumptions simultaneously and the ef) Tj ET Q q 0 0 0 rg BT 422.05 81.10 Td (fects of changes in key ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 69.10 Td (assumptions are not necessarily linear) Tj ET Q q 0 0 0 rg BT 201.07 69.10 Td (.) Tj ET Q endstream endobj 137 0 obj <> endobj 138 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (68) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (Goodwill and Intangible ) Tj ET Q q 0 0 0 rg BT 152.71 742.25 Td (Assets Impairment Review) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 721.25 Td (In applying the acquisition method of accounting for business combinations, amounts assigned to identifiable assets and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 709.25 Td (liabilities acquired were based on estimated fair values as of the date of acquisition, with the remainder recorded as goodwill. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 697.25 Td (Intangible assets are initially valued at fair value using generally accepted valuation methods appropriate for the type of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 685.25 Td (intangible asset. Intangible assets with definite lives are amortized over their estimated useful lives and are reviewed for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 673.25 Td (impairment if indicators of impairment arise. Intangible assets with indefinite lives are tested for impairment annually as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 661.25 Td (October 1, and whenever indicators of impairment arise. ) Tj ET Q q 0 0 0 rg BT 278.07 661.25 Td (The fair value of the intangible assets is compared with their carrying ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 649.25 Td (value and an impairment loss would be recognized for the amount by which the carrying amount exceeds the fair value. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 637.25 Td (Goodwill is tested for impairment annually as of October 1, and whenever indicators of impairment arise. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 616.25 Td (Goodwill is tested at the reporting unit level, and the Company had eight reporting units as of October 1, 2016.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 595.25 Td (During fiscal year ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 124.69 595.25 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 144.69 595.25 Td (, the Company performed Step 1 of the two-step impairment test for all reporting units. Each of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 583.25 Td (reporting units' estimated fair values were in excess of their carrying values. ) Tj ET Q q 0 0 0 rg BT 356.79 583.25 Td (T) Tj ET Q q 0 0 0 rg BT 362.20 583.25 Td (o perform the test, we used valuation techniques ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 571.25 Td (to estimate the fair value of a reporting unit that fall under income or market approaches. Under the discounted cash flow ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 559.25 Td (method, an income approach, the business enterprise value is determined by discounting to present value the terminal value ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 547.25 Td (which is calculated using debt-free after) Tj ET Q q 0 0 0 rg BT 210.00 547.25 Td (-tax cash flows for a finite period of years. Key estimates in this approach were internal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 535.25 Td (financial projection estimates prepared by management, business risk, and expected rates of return on capital. ) Tj ET Q q 0 0 0 rg BT 490.21 535.25 Td (The guideline ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 523.25 Td (company method, a market approach, develops valuation multiples by comparing our reporting units to similar publicly traded ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 511.25 Td (companies. Key estimates and selection of valuation multiples rely on the selection of similar companies, obtaining estimates ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 499.25 Td (of forecast revenues and EBITDA) Tj ET Q q 0 0 0 rg BT 186.06 499.25 Td ( estimates for the similar companies and selection of valuation multiples as they apply to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 487.25 Td (reporting unit characteristics. Under the similar transactions method, a market approach, actual transaction prices and operating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 475.25 Td (data from companies deemed reasonably similar to the reporting units is used to develop valuation multiples as an indication of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 463.25 Td (how much a knowledgeable investor in the marketplace would be willing to pay for the business units.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.25 Td (If the Company was required to perform Step 2, we would determine the implied fair value of the reporting unit used in Step 1 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.25 Td (to all of the assets and liabilities of that reporting unit \(including any recognized or unrecognized intangible assets\) as if the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.25 Td (reporting unit had been acquired in a business combination. ) Tj ET Q q 0 0 0 rg BT 290.87 418.25 Td (Then the implied fair value of goodwill would be compared to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.25 Td (carrying amount of goodwill to determine if goodwill is impaired. For the year ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.53 406.25 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.11 406.25 Td (, we did not record ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.25 Td (any impairment losses of goodwill or intangibles.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 373.25 Td (Recent ) Tj ET Q q 0 0 0 rg BT 80.45 373.25 Td (Accounting Pronouncements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 352.25 Td (While we are still in the process of analyzing the various ) Tj ET Q q 0 0 0 rg BT 279.10 352.25 Td (Accounting Standards Updates \(ASU\) issued by the Financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 340.25 Td (Accounting Standards Board \(F) Tj ET Q q 0 0 0 rg BT 179.51 340.25 Td (ASB\), those which we believe will have a material impact to our financial statements are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 328.25 Td (listed below) Tj ET Q q 0 0 0 rg BT 97.95 328.25 Td (. See ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.39 328.25 Td (Note 2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 149.33 328.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 164.33 328.25 Td (Basis of Presentation and Significant ) Tj ET Q q 0 0 0 rg BT 314.03 328.25 Td (Accounting Policies) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.85 328.25 Td ( within Item 8 of this Form 10-K for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 316.25 Td (additional information.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 295.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 295.25 Td (ASU No. 2014-09 Revenue From Contracts ) Tj ET Q q 0 0 0 rg BT 267.19 295.25 Td (W) Tj ET Q q 0 0 0 rg BT 276.22 295.25 Td (ith Customers) Tj ET Q BT /F1 10.00 Tf ET /GS0 gs q 18.00 0 0 10.09 104.00 272.09 cm /I27 Do Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 274.25 Td (The Company will adopt the standard using the modified retrospective approach on January 1, 2018. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.18 274.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET /GS0 gs q 18.00 0 0 10.09 104.00 251.09 cm /I28 Do Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 253.25 Td (W) Tj ET Q q 0 0 0 rg BT 130.64 253.25 Td (e expect certain revenue streams to have accelerated revenue recognition timing. In particular) Tj ET Q q 0 0 0 rg BT 504.22 253.25 Td (, the revenue ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 241.25 Td (recognition for our Retiree Medicare Exchange is expected to move from monthly ratable recognition over ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 229.25 Td (the policy period, to the recognition upon placement of the policy during the Company) Tj ET Q q 0 0 0 rg BT 471.92 229.25 Td (s fourth quarter of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 217.25 Td (preceding calendar year in the amount of one year of expected commissions. ) Tj ET Q q 0 0 0 rg BT 430.87 217.25 Td (Therefore, upon adoption, we ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 205.25 Td (will reflect an adjustment to retained earnings for the revenue that would otherwise have been recognized ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 193.25 Td (during our 2018 calendar year since our earnings process will have been completed during the fourth quarter ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 181.25 Td (of 2017.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 155.33 181.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET /GS0 gs q 18.00 0 0 10.09 104.00 158.09 cm /I29 Do Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 160.25 Td (W) Tj ET Q q 0 0 0 rg BT 130.64 160.25 Td (e expect our accounting for deferred costs will change. First, for those portions of the business that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 148.25 Td (currently defer costs \(related to system implementation activities\), the length of time over which we amortize ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 136.25 Td (those costs is expected to extend to a longer estimated contract term. Currently these costs are amortized over ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 124.25 Td (a typical period of 3-5 years in accordance with the initial stated terms of the customer agreement. Second, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 112.25 Td (we believe there may be other types of arrangements with associated costs that do not meet the rules for cost ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 100.25 Td (deferral under current U.S. GAAP) Tj ET Q q 0 0 0 rg BT 258.81 100.25 Td ( but do meet the rules under the new standard. ) Tj ET Q q 0 0 0 rg BT 445.52 100.25 Td (W) Tj ET Q q 0 0 0 rg BT 454.15 100.25 Td (e are still evaluating the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 88.25 Td (types of arrangements that might now have cost deferral impacts. ) Tj ET Q endstream endobj 139 0 obj <> endobj 140 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (69) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 742.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 742.10 Td (ASU No. 2016-02 Leases) Tj ET Q BT /F1 10.00 Tf ET /GS0 gs q 18.00 0 0 10.09 104.00 718.94 cm /I30 Do Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 721.10 Td (The majority of our leases are currently considered operating leases and will be capitalized as a lease asset on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 709.10 Td (our balance sheets with a related lease liability for the obligated lease payments when the ) Tj ET Q q 0 0 0 rg BT 481.04 709.10 Td (ASU is adopted. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 697.10 Td (The ) Tj ET Q q 0 0 0 rg BT 139.50 697.10 Td (ASU becomes ef) Tj ET Q q 0 0 0 rg BT 207.07 697.10 Td (fective for the Company at the beginning of the 2019 fiscal year; early adoption is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 685.10 Td (permitted.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 664.10 Td (ITEM7A. QUANTIT) Tj ET Q q 0 0 0 rg BT 142.32 664.10 Td (A) Tj ET Q q 0 0 0 rg BT 148.80 664.10 Td (TIVE ) Tj ET Q q 0 0 0 rg BT 175.21 664.10 Td (AND QUALIT) Tj ET Q q 0 0 0 rg BT 238.08 664.10 Td (A) Tj ET Q q 0 0 0 rg BT 244.56 664.10 Td (TIVE DISCLOSURES ) Tj ET Q q 0 0 0 rg BT 344.04 664.10 Td (ABOUT) Tj ET Q q 0 0 0 rg BT 379.42 664.10 Td ( MARKET) Tj ET Q q 0 0 0 rg BT 426.74 664.10 Td ( RISK) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 645.10 Td (Financial Risk Management) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 170.56 645.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 626.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 626.10 Td (e are exposed to market risk from changes in foreign currency exchange rates and interest rates. In order to manage the risk ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 614.10 Td (arising from these exposures, we enter into a variety of interest rate and foreign currency derivatives. ) Tj ET Q q 0 0 0 rg BT 456.33 614.10 Td (W) Tj ET Q q 0 0 0 rg BT 464.97 614.10 Td (e do not hold financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 602.10 Td (or derivative instruments for trading purposes.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 235.51 602.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 583.10 Td (A) Tj ET Q q 0 0 0 rg BT 56.67 583.10 Td ( discussion of our accounting policies for financial and derivative instruments is included in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.58 583.10 Td (Note 2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.52 583.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.52 583.10 Td (Basis of Presentation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 571.10 Td (and Significant ) Tj ET Q q 0 0 0 rg BT 112.77 571.10 Td (Accounting Policies) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 193.59 571.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 213.03 571.10 Td (Note 9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 239.97 571.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.97 571.10 Td (Derivative Financial Instruments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.60 571.10 Td ( of the Notes to the Consolidated Financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 559.10 Td (Statements in this ) Tj ET Q q 0 0 0 rg BT 123.06 559.10 Td (Annual Report on Form 10-K.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 244.43 559.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 534.10 Td (For) Tj ET Q q 0 0 0 rg BT 65.37 534.10 Td (eign Exchange Risk ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 151.77 534.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 515.10 Td (Because of the lar) Tj ET Q q 0 0 0 rg BT 121.73 515.10 Td (ge number of countries and currencies we operate in, movements in currency exchange rates may af) Tj ET Q q 0 0 0 rg BT 521.38 515.10 Td (fect our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 503.10 Td (results.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.61 503.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 484.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 484.10 Td (e report our operating results and financial condition in U.S. dollars. Our U.S. operations earn revenues and incur expenses ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 472.10 Td (primarily in U.S. dollars. Outside the United States, we predominantly generate revenues and expenses in the local currency ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 460.10 Td (with the exception of our London market operations which earn revenues in several currencies but incur expenses ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 448.10 Td (predominantly in Pounds sterling.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 185.55 448.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 429.10 Td (The table below gives an approximate analysis of revenues and expenses by currency in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.32 429.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.32 429.10 Td (.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 397.60 268.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 397.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 397.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 397.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 397.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 397.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 397.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 397.60 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 318.5 397.6 m 376.5 397.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 397.6 m 438.5 397.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 397.6 m 500.5 397.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 397.6 m 562.5 397.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 397.6 m 376.5 397.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 397.6 m 438.5 397.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 397.6 m 500.5 397.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 397.6 m 562.5 397.6 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 339.85 409.83 Td (U.S.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 335.20 401.83 Td (dollars) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 396.30 409.83 Td (Pounds) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 396.10 401.83 Td (sterling) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 462.40 401.83 Td (Euro) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 522.85 409.83 Td (Other) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 515.30 401.83 Td (curr) Tj ET Q q 0 0 0 rg BT 530.26 401.83 Td (encies) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 387.27 Td (Revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.80 387.27 Td (56%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.80 387.27 Td (14%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.80 387.27 Td (14%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.80 387.27 Td (16%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 372.27 Td (Expenses) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 90.77 376.80 Td ( \(i\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.80 372.27 Td (48%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.80 372.27 Td (20%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.80 372.27 Td (13%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.80 372.27 Td (19%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 356.10 Td (____________________) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 150.00 356.10 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 68.00 343.50 Td (\(i\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 343.50 Td (These percentages exclude certain expenses for significant items which will not be settled in cash, or which we believe to be items that are not core ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 333.90 Td (to our current or future operations. ) Tj ET Q q 0 0 0 rg BT 198.48 333.90 Td (These items include Mer) Tj ET Q q 0 0 0 rg BT 277.65 333.90 Td (ger) Tj ET Q q 0 0 0 rg BT 287.70 333.90 Td (-related amortization of intangible assets, restructuring costs, and transaction and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 324.30 Td (integration expenses.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 153.54 324.30 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 305.30 Td (Our principal exposures to foreign exchange risk arise from:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.59 305.30 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 290.30 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 290.30 Td (our London market operations;and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 209.07 290.30 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 275.30 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 275.30 Td (translation.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 112.71 275.30 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 250.30 Td (London market operations) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 164.45 250.30 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 231.30 Td (The Company) Tj ET Q q 0 0 0 rg BT 109.71 231.30 Td (s primary foreign exchange risks in its London market operations arise from changes in the exchange rate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 219.30 Td (between U.S. dollars and Pounds sterling as its London market operations earn the majority of their revenues in U.S. dollars ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 207.30 Td (and incur expenses predominantly in Pounds sterling, and may also hold a significant net sterling asset or liability position on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 195.30 Td (the balance sheet. In addition, the London market operations earn significant revenues in Euro and Japanese yen.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.23 195.30 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 176.30 Td (The foreign exchange risks in our London market operations are hedged to the extent that:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.99 176.30 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.20 157.30 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.20 157.30 Td (forecast Pounds sterling expenses exceed Pounds sterling revenues, in which case the Company limits its exposure to this ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.20 145.30 Td (exchange rate risk by the use of forward contracts matched to specific, clearly identified cash outflows arising in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.20 133.30 Td (ordinary course of business; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 185.18 133.30 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.20 114.30 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.20 114.30 Td (the U.K. operations earn significant revenues in Euro and Japanese yen, in which case the Company limits its exposure to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.20 102.30 Td (changes in the exchange rate between the U.S. dollar and these currencies by the use of forward contracts matched to a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.20 90.30 Td (percentage of forecast cash inflows in specific currencies and periods. In addition, we are also exposed to foreign ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.20 78.30 Td (exchange risk on any net Pounds sterling asset or liability position in our London market operations; and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.01 78.30 Td ( ) Tj ET Q endstream endobj 141 0 obj <> endobj 142 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (70) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.20 742.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.20 742.10 Td (Miller Insurance Services LLP) Tj ET Q q 0 0 0 rg BT 192.11 742.10 Td (, which is a Pounds sterling functional entity) Tj ET Q q 0 0 0 rg BT 369.77 742.10 Td (, earns significant non-functional currency ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.20 730.10 Td (revenues, in which case the Company limits its exposure to exchange rate changes by the use of forward contracts ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.20 718.10 Td (matched to a percentage of forecast cash inflows in specific currencies and periods.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.67 718.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 699.10 Td (However) Tj ET Q q 0 0 0 rg BT 86.25 699.10 Td (, where the foreign exchange risk relates to any Pounds sterling pension benefits assets or liability for pension ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 687.10 Td (benefits, we do not hedge the risk. Consequently) Tj ET Q q 0 0 0 rg BT 244.03 687.10 Td (, if our London market operations have a significant pension asset or liability) Tj ET Q q 0 0 0 rg BT 551.36 687.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 675.10 Td (we may be exposed to accounting gains and losses, recognized in other comprehensive income or loss, if the U.S. dollar and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 663.10 Td (Pounds sterling exchange rates change. ) Tj ET Q q 0 0 0 rg BT 209.21 663.10 Td (W) Tj ET Q q 0 0 0 rg BT 217.85 663.10 Td (e do, however) Tj ET Q q 0 0 0 rg BT 273.82 663.10 Td (, hedge the Pounds sterling contributions into the pension plan.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.73 663.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 638.10 Td (T) Tj ET Q q 0 0 0 rg BT 55.93 638.10 Td (ranslation risk) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 118.44 638.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 619.10 Td (Outside our U.S. and London market operations, we predominantly earn revenues and incur expenses in the local currency) Tj ET Q q 0 0 0 rg BT 539.75 619.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 607.10 Td (When we translate the results and net assets of these operations into U.S. dollars for reporting purposes, movements in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 595.10 Td (exchange rates will af) Tj ET Q q 0 0 0 rg BT 137.28 595.10 Td (fect reported results and net assets. For example, if the U.S. dollar strengthens against the Euro, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 583.10 Td (reported results of our Eurozone operations in U.S. dollar terms will be lower) Tj ET Q q 0 0 0 rg BT 359.37 583.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.87 583.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 564.10 Td (W) Tj ET Q q 0 0 0 rg BT 59.04 564.10 Td (ith the exception of foreign currency hedges for certain intercompany loans that are not designated as hedging instruments, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 552.10 Td (we do not hedge translation risk.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 180.53 552.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 533.10 Td (The table below provides information about our foreign currency forward exchange contracts, which are sensitive to exchange ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 521.10 Td (rate risk. ) Tj ET Q q 0 0 0 rg BT 87.30 521.10 Td (The table summarizes the U.S. dollar equivalent amounts of each currency bought and sold forward and the weighted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 509.10 Td (average contractual exchange rates. ) Tj ET Q q 0 0 0 rg BT 194.08 509.10 Td (All forward exchange contracts mature within three years.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 440.60 133.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 183.50 440.60 4.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 187.50 440.60 41.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 228.50 440.60 4.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 232.50 440.60 77.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 309.50 440.60 4.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 313.50 440.60 42.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.50 440.60 4.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.50 440.60 76.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.50 440.60 4.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.50 440.60 42.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.50 440.60 4.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 440.60 77.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 395.60 133.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 183.50 395.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 187.50 395.60 41.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 228.50 395.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 232.50 395.60 77.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 309.50 395.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 313.50 395.60 42.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.50 395.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.50 395.60 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.50 395.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.50 395.60 42.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.50 395.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 395.60 77.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 356.60 133.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 183.50 356.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 187.50 356.60 41.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 228.50 356.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 232.50 356.60 77.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 309.50 356.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 313.50 356.60 42.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.50 356.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.50 356.60 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.50 356.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.50 356.60 42.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.50 356.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 356.60 77.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 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ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 320.85 457.83 Td (amount) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 362.50 465.83 Td (Average contractual) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 373.30 457.83 Td (exchange rate) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 444.65 465.83 Td (Contract) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 446.85 457.83 Td (amount) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 489.00 465.83 Td (Average contractual) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 499.80 457.83 Td (exchange rate) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 116.50 444.85 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 191.25 444.83 Td (\(millions\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 270.50 444.85 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 317.75 444.83 Td (\(millions\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 397.00 444.85 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 443.75 444.83 Td (\(millions\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 523.50 444.85 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 425.28 Td (Foreign currency sold) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.00 425.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 235.00 425.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.00 425.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.00 425.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.00 425.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.00 425.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 410.27 Td (U.S. dollars sold for Pounds) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 400.27 Td (sterling) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.00 400.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 209.65 400.27 Td (390) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.90 400.27 Td ($1.51 = 1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.00 400.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.65 400.27 Td (268) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 375.40 400.27 Td ($1.46 = 1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.00 400.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.65 400.27 Td (77) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.90 400.27 Td ($1.39 = 1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 385.27 Td (Euro sold for U.S. dollars) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.65 385.27 Td (74) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.90 385.27 Td (1 = $1.20) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.65 385.27 Td (48) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 375.40 385.27 Td (1 = $1.19) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.65 385.27 Td (14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.90 385.27 Td (1 = $1.17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 371.17 Td (Japanese yen sold for U.S.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 361.17 Td (dollars) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.65 361.27 Td (21) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 244.10 361.27 Td (110.85 = $1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.65 361.27 Td (13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.75 361.27 Td (110.90 - $1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.65 361.27 Td (5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.40 361.27 Td (98.63 = $1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 346.27 Td (Euro sold for Pounds sterling) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.65 346.27 Td (22) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.90 346.27 Td (1 = 1.21) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.65 346.27 Td (9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.90 346.27 Td (1 = 1.33) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.65 346.27 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.90 346.27 Td (1 = 1.24) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 331.27 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.00 331.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 209.65 331.27 Td (507) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.00 331.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.65 331.27 Td (338) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.00 331.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.65 331.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 316.27 Td (Fair value ) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 95.76 320.34 Td (\(i\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.00 316.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 211.30 316.27 Td (\(65) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.65 316.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.00 316.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.30 316.32 Td (\(40) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.65 316.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.00 316.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.30 316.32 Td (\(5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.65 316.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.00 316.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 300.10 Td (____________________) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 150.00 300.10 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 287.50 Td (\(i\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 68.00 287.50 Td (Represents the dif) Tj ET Q q 0 0 0 rg BT 125.62 287.50 Td (ference between the contract amount and the cash flow in U.S. dollars which would have been receivable had the foreign currency ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 68.00 277.90 Td (forward exchange contracts been entered into on ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 225.48 277.90 Td (December31, 2016) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 288.35 277.90 Td ( at the forward exchange rates prevailing at that date.) 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gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.50 646.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 646.50 77.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 606.50 132.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 182.50 606.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 186.50 606.50 42.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 228.50 606.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 232.50 606.50 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 308.50 606.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 312.50 606.50 42.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 354.50 606.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.50 606.50 77.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.50 606.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.50 606.50 42.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.50 606.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 606.50 77.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 576.50 132.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 182.50 576.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 186.50 576.50 42.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 228.50 576.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 232.50 576.50 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 308.50 576.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 312.50 576.50 42.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 354.50 576.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.50 576.50 77.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.50 576.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.50 576.50 42.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.50 576.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 576.50 77.00 -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 186.5 735.5 m 228.5 735.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 228.5 735.5 m 232.5 735.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 232.5 735.5 m 308.5 735.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 308.5 735.5 m 312.5 735.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 312.5 735.5 m 354.5 735.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 354.5 735.5 m 358.5 735.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 735.5 m 435.5 735.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435.5 735.5 m 439.5 735.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439.5 735.5 m 481.5 735.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 481.5 735.5 m 485.5 735.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485.5 735.5 m 562.5 735.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 186.5 722.5 m 228.5 722.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 228.5 722.5 m 232.5 722.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 232.5 722.5 m 308.5 722.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 312.5 722.5 m 354.5 722.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 354.5 722.5 m 358.5 722.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 722.5 m 435.5 722.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439.5 722.5 m 481.5 722.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 481.5 722.5 m 485.5 722.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485.5 722.5 m 562.5 722.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 701.5 m 182.5 701.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 186.5 701.5 m 228.5 701.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 232.5 701.5 m 308.5 701.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 312.5 701.5 m 354.5 701.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 701.5 m 435.5 701.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439.5 701.5 m 481.5 701.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485.5 701.5 m 562.5 701.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 186.5 591.5 m 228.5 591.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 186.5 577.5 m 228.5 577.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 186.5 575.5 m 228.5 575.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 312.5 591.5 m 354.5 591.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 312.5 577.5 m 354.5 577.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 312.5 575.5 m 354.5 575.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439.5 591.5 m 481.5 591.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439.5 577.5 m 481.5 577.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439.5 575.5 m 481.5 575.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 186.5 562.5 m 228.5 562.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 186.5 560.5 m 228.5 560.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 312.5 562.5 m 354.5 562.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 312.5 560.5 m 354.5 560.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439.5 562.5 m 481.5 562.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439.5 560.5 m 481.5 560.5 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 116.00 739.75 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 311.35 739.73 Td (Settlement date before December31,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 116.00 726.75 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 239.00 726.73 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 365.50 726.73 Td (2017) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 492.50 726.73 Td (2018) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 53.00 705.73 Td (December 31, 2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 191.65 713.73 Td (Contract) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 193.85 705.73 Td (amount) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 235.50 713.73 Td (Average contractual) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 246.30 705.73 Td (exchange rate) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 317.65 713.73 Td (Contract) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 319.85 705.73 Td (amount) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 362.00 713.73 Td (Average contractual) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 372.80 705.73 Td (exchange rate) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 444.65 713.73 Td (Contract) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 446.85 705.73 Td (amount) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 489.00 713.73 Td (Average contractual) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 499.80 705.73 Td (exchange rate) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 116.00 692.75 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 190.75 692.73 Td (\(millions\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 270.00 692.75 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 316.75 692.73 Td (\(millions\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 396.50 692.75 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 443.75 692.73 Td (\(millions\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 523.50 692.75 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 676.18 Td (Foreign currency sold) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.00 676.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 235.00 676.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.00 676.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.00 676.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.00 676.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.00 676.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 661.17 Td (U.S. dollars sold for Pounds) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 651.17 Td (sterling) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 189.00 651.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 209.65 651.17 Td (485) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.40 651.17 Td ($1.57 = 1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.00 651.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.65 651.17 Td (363) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.90 651.17 Td ($1.54 = 1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.00 651.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.65 651.17 Td (175) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.90 651.17 Td ($1.55 = 1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 636.17 Td (Euro sold for U.S. dollars) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.65 636.17 Td (87) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.40 636.17 Td (1 = $1.26) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.65 636.17 Td (63) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.90 636.17 Td (1 = $1.30) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.65 636.17 Td (29) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.90 636.17 Td (1 = $1.15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 621.17 Td (Japanese yen sold for U.S.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 611.17 Td (dollars) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.65 611.17 Td (26) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.05 611.17 Td (111.41= $1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.65 611.17 Td (18) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.10 611.17 Td (113.49 = $1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.65 611.17 Td (7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.10 611.17 Td (116.17 = $1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 596.17 Td (Euro sold for Pounds sterling) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.65 596.17 Td (15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.40 596.17 Td (1 = 1.22) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.65 596.17 Td (5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.90 596.17 Td (1 = 1.24) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.65 596.17 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.90 596.17 Td (1 = 1.38) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 581.17 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 189.00 581.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 209.65 581.17 Td (613) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.00 581.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.65 581.17 Td (449) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.00 581.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.65 581.17 Td (214) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 566.17 Td (Fair value ) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 95.76 570.24 Td (\(i\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 189.00 566.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 211.30 566.17 Td (\(13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.65 566.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 235.00 566.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.00 566.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.30 566.22 Td (\(11) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.65 566.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.00 566.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.00 566.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.30 566.22 Td (\(7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.65 566.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.00 566.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.00 Td (____________________) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 150.00 550.00 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 537.40 Td (\(i\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 68.00 537.40 Td (Represents the dif) Tj ET Q q 0 0 0 rg BT 125.62 537.40 Td (ference between the contract amount and the cash flow in U.S. dollars which would have been receivable had the foreign currency ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 68.00 527.80 Td (forward exchange contracts been entered into on ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 225.48 527.80 Td (December31, 2015) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 288.35 527.80 Td ( at the forward exchange rates prevailing at that date.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 458.05 527.80 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 508.80 Td (Income earned within foreign subsidiaries outside of the United Kingdom is generally of) Tj ET Q q 0 0 0 rg BT 404.73 508.80 Td (fset by expenses in the same local ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 496.80 Td (currency but the Company does have exposure to foreign exchange movements on the net income of these entities.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.30 496.80 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 471.80 Td (Inter) Tj ET Q q 0 0 0 rg BT 71.48 471.80 Td (est Rate Risk ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 130.08 471.80 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 452.80 Td (The Company has access to \(i\) $800 million under a revolving credit facility expiring July 23, 2018, \(ii\) $400 million under a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 440.80 Td (revolving credit facility expiring ) Tj ET Q q 0 0 0 rg BT 182.18 440.80 Td (April 28, 2017, with a repayment date of ) Tj ET Q q 0 0 0 rg BT 347.14 440.80 Td (April 28, 2018, which will be available for regulatory ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 428.80 Td (capital purposes related to securities underwriting only) Tj ET Q q 0 0 0 rg BT 268.73 428.80 Td (, and \(iii\) $20 million available under another revolving credit facility ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 416.80 Td (which is only available for specific regulatory purposes. ) Tj ET Q q 0 0 0 rg BT 276.32 416.80 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.77 416.80 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.35 416.80 Td (, $238 million was drawn on these facilities. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 404.80 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 404.80 Td (e are also subject to market risk from exposure to changes in interest rates based on our investing activities where our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 392.80 Td (primary interest rate risk arises from changes in short-term interest rates in both U.S. dollars and Pounds sterling.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.68 392.80 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 373.80 Td (As a result of our operating activities, we receive cash for premiums and claims which we deposit in short-term investments ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 361.80 Td (denominated in U.S. dollars and other currencies. ) Tj ET Q q 0 0 0 rg BT 250.32 361.80 Td (W) Tj ET Q q 0 0 0 rg BT 258.96 361.80 Td (e earn interest on these funds, which is included in our consolidated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 349.80 Td (financial statements as interest income. ) Tj ET Q q 0 0 0 rg BT 209.21 349.80 Td (These funds are regulated in terms of access and the instruments in which they may be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 337.80 Td (invested, most of which are short-term in maturity) Tj ET Q q 0 0 0 rg BT 250.42 337.80 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 255.42 337.80 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 318.80 Td (During the year ended December31, 2015, the Company) Tj ET Q q 0 0 0 rg BT 278.17 318.80 Td (, in order to manage interest rate risk arising from these financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 306.80 Td (assets, entered into interest rate swaps to receive a fixed rate of interest and pay a variable rate of interest. ) Tj ET Q q 0 0 0 rg BT 477.13 306.80 Td (The use of interest ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 294.80 Td (rate contracts essentially converted groups of short-term variable rate investments to fixed rates. ) Tj ET Q q 0 0 0 rg BT 439.40 294.80 Td (These derivatives were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 282.80 Td (designated as hedging instruments and were for a total notional amount of $300 million.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.71 282.80 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 263.80 Td (The table below provides information about our derivative instruments and other financial instruments that are sensitive to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 251.80 Td (changes in interest rates. For interest rate swaps, the table presents notional principal amounts and average interest rates ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 239.80 Td (analyzed by expected maturity dates. Notional principal amounts are used to calculate the contractual payments to be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 227.80 Td (exchanged under the contracts. ) Tj ET Q q 0 0 0 rg BT 176.15 227.80 Td (The duration of the interest rate swaps was three years, with re-fixing periods of three months. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 215.80 Td (A) Tj ET Q q 0 0 0 rg BT 56.48 215.80 Td (verage fixed and variable rates are, respectively) Tj ET Q q 0 0 0 rg BT 246.56 215.80 Td (, the weighted-average actual and market rates for the interest rate hedges in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 203.80 Td (place. Market rates are the rates prevailing at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.41 203.80 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.99 203.80 Td ( or 2015, as appropriate. ) Tj ET Q q 0 0 0 rg BT 410.50 203.80 Td (W) Tj ET Q q 0 0 0 rg BT 419.14 203.80 Td (e have evaluated the need for a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 191.80 Td (sensitivity analysis, and based on the Company's debt, we believe this to be immaterial.) 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561.5 717.5 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 740.45 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 234.95 740.58 Td (Expected to mature before December31,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 445.50 740.45 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 492.50 740.45 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 53.00 721.73 Td (December 31, 2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 202.50 721.73 Td (2017) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 249.50 721.73 Td (2018) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 296.50 721.73 Td (2019) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 343.50 721.73 Td (2020) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 390.50 721.73 Td (2021) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 427.20 721.73 Td (Thereafter) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 483.75 721.73 Td (Total) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 522.10 727.23 Td (Fair) Tj ET Q q 0 0 0 rg BT 536.62 727.23 Td ( value) Tj ET Q BT /F2 8.00 Tf ET BT /F2 5.20 Tf ET q 0 0 0 rg BT 537.00 724.75 Td (\(i\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 117.50 709.45 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 321.75 709.58 Td (\($ millions, except percentages\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 53.00 696.90 Td (Fixed rate debt) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 229.00 696.76 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 276.00 696.76 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 323.00 696.76 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 370.00 696.76 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 417.00 696.76 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 464.00 696.76 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 511.00 696.76 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 558.00 696.76 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 683.76 Td ( Principal) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 192.00 683.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 211.00 683.76 Td (394) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 262.50 683.76 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 286.00 683.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 305.00 683.76 Td (187) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 361.00 683.76 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 380.00 683.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 399.00 683.76 Td (950) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 427.00 683.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 439.25 683.76 Td (1,645) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 474.00 683.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 486.25 683.76 Td (3,176) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 521.00 683.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 537.75 683.76 Td (3,306) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 670.76 Td ( Fixed rate payable) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 204.25 670.76 Td (6.200) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 224.50 670.76 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 262.50 670.76 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 298.25 670.76 Td (7.000) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 318.50 670.76 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 361.00 670.76 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 392.25 670.76 Td (4.684) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 412.50 670.76 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 439.25 670.76 Td (3.934) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 459.50 670.76 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 486.25 670.76 Td (4.620) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 506.50 670.76 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 53.00 657.90 Td (Floating rate debt) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 644.76 Td ( Principal) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 192.00 644.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 211.00 644.76 Td (107) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 239.00 644.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 258.00 644.76 Td (519) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 286.00 644.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 309.50 644.76 Td (85) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 361.00 644.76 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 403.50 644.76 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 450.50 644.76 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 474.00 644.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 493.00 644.76 Td (711) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 521.00 644.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 544.50 644.76 Td (711) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 631.76 Td ( ) Tj ET Q q 0 0 0 rg BT 57.34 631.76 Td (V) Tj ET Q q 0 0 0 rg BT 62.84 631.76 Td (ariable rate payable ) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 135.54 635.84 Td (\(ii\) ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 204.25 631.76 Td (2.046) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 224.50 631.76 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 251.25 631.76 Td (2.047) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 271.50 631.76 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 298.25 631.76 Td (2.020) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 318.50 631.76 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 361.00 631.76 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 403.50 631.76 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 486.25 631.76 Td (2.043) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 506.50 631.76 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 53.00 618.90 Td (Derivatives - interest rate swaps) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 605.76 Td ( Notional principal) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 215.50 605.76 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 239.00 605.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 258.00 605.76 Td (300) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 309.50 605.76 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 361.00 605.76 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 403.50 605.76 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 450.50 605.76 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 474.00 605.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 493.00 605.76 Td (300) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 549.00 605.76 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 592.76 Td ( Fixed rate receivable) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 215.50 592.76 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 251.25 592.76 Td (1.167) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 271.50 592.76 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 309.50 592.76 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 361.00 592.76 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 403.50 592.76 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 450.50 592.76 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 486.25 592.76 Td (1.167) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 506.50 592.76 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 579.76 Td ( Variable rate payable) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 215.50 579.76 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 251.25 579.76 Td (0.567) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 271.50 579.76 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 309.50 579.76 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 361.00 579.76 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 403.50 579.76 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 450.50 579.76 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 486.25 579.76 Td (0.567) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 506.50 579.76 Td (%) Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 519.50 135.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 185.50 519.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 189.50 519.50 43.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 232.50 519.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 236.50 519.50 43.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 279.50 519.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 283.50 519.50 43.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 326.50 519.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 330.50 519.50 43.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 373.50 519.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 377.50 519.50 43.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 519.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 519.50 43.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 467.50 519.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.50 519.50 43.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 514.50 519.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 518.50 519.50 43.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 493.50 135.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 185.50 493.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 189.50 493.50 43.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 232.50 493.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 236.50 493.50 43.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 279.50 493.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 283.50 493.50 43.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 326.50 493.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 330.50 493.50 43.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 373.50 493.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 377.50 493.50 43.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 493.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 493.50 43.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 467.50 493.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.50 493.50 43.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 514.50 493.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 518.50 493.50 43.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 467.50 135.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 185.50 467.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 189.50 467.50 43.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 232.50 467.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 236.50 467.50 43.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 279.50 467.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 283.50 467.50 43.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 326.50 467.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 330.50 467.50 43.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 373.50 467.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 377.50 467.50 43.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 467.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 467.50 43.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 467.50 467.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.50 467.50 43.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 514.50 467.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 518.50 467.50 43.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 441.50 135.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 185.50 441.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 189.50 441.50 43.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 232.50 441.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 236.50 441.50 43.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 279.50 441.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 283.50 441.50 43.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 326.50 441.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 330.50 441.50 43.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 373.50 441.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 377.50 441.50 43.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 441.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 441.50 43.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 467.50 441.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.50 441.50 43.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 514.50 441.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 518.50 441.50 43.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 415.50 135.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 185.50 415.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 189.50 415.50 43.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 232.50 415.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 236.50 415.50 43.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 279.50 415.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 283.50 415.50 43.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 326.50 415.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 330.50 415.50 43.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 373.50 415.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 377.50 415.50 43.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 415.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 415.50 43.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 467.50 415.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.50 415.50 43.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 514.50 415.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 518.50 415.50 43.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 189.5 550.5 m 232.5 550.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 232.5 550.5 m 236.5 550.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 236.5 550.5 m 279.5 550.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 279.5 550.5 m 283.5 550.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 283.5 550.5 m 326.5 550.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326.5 550.5 m 330.5 550.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 550.5 m 373.5 550.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 373.5 550.5 m 377.5 550.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 377.5 550.5 m 420.5 550.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 531.5 m 185.5 531.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 189.5 550.5 m 232.5 550.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 189.5 531.5 m 232.5 531.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 232.5 550.5 m 236.5 550.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 236.5 550.5 m 279.5 550.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 236.5 531.5 m 279.5 531.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 279.5 550.5 m 283.5 550.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 283.5 550.5 m 326.5 550.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 283.5 531.5 m 326.5 531.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326.5 550.5 m 330.5 550.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 550.5 m 373.5 550.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 531.5 m 373.5 531.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 377.5 531.5 m 420.5 531.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 531.5 m 467.5 531.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 471.5 531.5 m 514.5 531.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 518.5 531.5 m 561.5 531.5 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 554.45 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 234.95 554.58 Td (Expected to mature before December31,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 445.50 554.45 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 492.50 554.45 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 53.00 535.73 Td (December 31, 2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 202.50 535.73 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 249.50 535.73 Td (2017) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 296.50 535.73 Td (2018) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 343.50 535.73 Td (2019) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 390.50 535.73 Td (2020) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 427.20 535.73 Td (Thereafter) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 483.75 535.73 Td (Total) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 521.65 541.23 Td (Fair) Tj ET Q q 0 0 0 rg BT 536.17 541.23 Td ( ) Tj ET Q q 0 0 0 rg BT 538.02 541.23 Td (V) Tj ET Q q 0 0 0 rg BT 543.06 541.23 Td (alue ) Tj ET Q BT /F2 8.00 Tf ET BT /F2 5.20 Tf ET q 0 0 0 rg BT 537.00 538.75 Td (\(i\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 117.50 523.45 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 321.75 523.58 Td (\($ millions, except percentages\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 53.00 510.90 Td (Fixed rate debt) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 229.00 510.76 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 276.00 510.76 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 323.00 510.76 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 370.00 510.76 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 417.00 510.76 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 464.00 510.76 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 511.00 510.76 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 558.00 510.76 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 497.76 Td ( Principal) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 192.00 497.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 211.00 497.76 Td (300) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 239.00 497.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 258.00 497.76 Td (394) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 309.50 497.76 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 333.00 497.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 352.00 497.76 Td (187) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 408.00 497.76 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 427.00 497.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 439.25 497.76 Td (1,025) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 474.00 497.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 486.25 497.76 Td (1,906) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 521.00 497.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 537.75 497.76 Td (2,012) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 484.76 Td ( Fixed rate payable) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 204.25 484.76 Td (4.125) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 224.50 484.76 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 251.25 484.76 Td (6.200) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 271.50 484.76 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 309.50 484.76 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 345.25 484.76 Td (7.000) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 365.50 484.76 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 408.00 484.76 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 439.25 484.76 Td (5.576) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 459.50 484.76 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 486.25 484.76 Td (5.616) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 506.50 484.76 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 53.00 471.90 Td (Floating rate debt) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 458.76 Td ( Principal) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 192.00 458.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 211.00 458.76 Td (694) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 239.00 458.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 262.50 458.76 Td (22) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 286.00 458.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 305.00 458.76 Td (664) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 356.50 458.76 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 408.00 458.76 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 450.50 458.76 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 474.00 458.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 486.25 458.76 Td (1,380) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 521.00 458.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 537.75 458.76 Td (1,380) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 445.76 Td ( ) Tj ET Q q 0 0 0 rg BT 57.34 445.76 Td (V) Tj ET Q q 0 0 0 rg BT 62.84 445.76 Td (ariable rate payable ) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 135.54 449.84 Td (\(ii\) ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 204.25 445.76 Td (1.647) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 224.50 445.76 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 251.25 445.76 Td (2.323) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 271.50 445.76 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 298.25 445.76 Td (2.451) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 318.50 445.76 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 356.50 445.76 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 408.00 445.76 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 486.25 445.76 Td (2.045) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 506.50 445.76 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 53.00 432.90 Td (Derivatives - interest rate swaps) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 419.76 Td ( Notional principal) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 215.50 419.76 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 262.50 419.76 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 286.00 419.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 305.00 419.76 Td (300) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 356.50 419.76 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 408.00 419.76 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 450.50 419.76 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 474.00 419.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 493.00 419.76 Td (300) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 549.00 419.76 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 406.76 Td ( Fixed rate receivable) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 215.50 406.76 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 262.50 406.76 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 298.25 406.76 Td (1.167) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 318.50 406.76 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 356.50 406.76 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 408.00 406.76 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 450.50 406.76 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 486.25 406.76 Td (1.167) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 506.50 406.76 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 393.76 Td ( Variable rate payable) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 215.50 393.76 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 262.50 393.76 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 298.25 393.76 Td (0.900) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 318.50 393.76 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 356.50 393.76 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 408.00 393.76 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 450.50 393.76 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 486.25 393.76 Td (0.900) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 506.50 393.76 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 378.00 Td (____________________) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 150.00 378.00 Td ( ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 52.20 367.53 Td (\(i\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.20 363.00 Td (Represents the net present value of the expected cash flows discounted at current market rates of interest or quoted market rates as appropriate.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 527.58 367.53 Td ( ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 52.20 352.53 Td (\(ii\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.20 348.00 Td (Represents the estimated interest rate payable.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 218.14 352.53 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 327.00 Td (Cr) Tj ET Q q 0 0 0 rg BT 61.48 327.00 Td (edit ) Tj ET Q q 0 0 0 rg BT 80.09 327.00 Td (Risk ) Tj ET Q q 0 0 0 rg BT 102.04 327.00 Td (and ) Tj ET Q q 0 0 0 rg BT 120.66 327.00 Td (Concentrations ) Tj ET Q q 0 0 0 rg BT 188.72 327.00 Td (of ) Tj ET Q q 0 0 0 rg BT 199.55 327.00 Td (Cr) Tj ET Q q 0 0 0 rg BT 211.03 327.00 Td (edit ) Tj ET Q q 0 0 0 rg BT 229.63 327.00 Td (Risk) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 249.09 327.00 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 306.00 Td (Credit risk represents the loss that would be recognized at the reporting date if counterparties failed to perform as contracted. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 294.00 Td (The Company currently does not anticipate non-performance by its counterparties. ) Tj ET Q q 0 0 0 rg BT 382.76 294.00 Td (The Company generally does not require ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 282.00 Td (collateral or other security to support financial instruments with credit risk.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.20 282.00 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 264.00 Td (Concentrations of credit risk that arise from financial instruments exist for groups of customers or counterparties when they ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 252.00 Td (have similar economic characteristics that would cause their ability to meet contractual obligations to be similarly af) Tj ET Q q 0 0 0 rg BT 515.22 252.00 Td (fected by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 240.00 Td (changes in economic or other conditions. Financial instruments on the balance sheet that potentially subject the Company to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 228.00 Td (concentrations of credit risk consist primarily of cash and cash equivalents, fiduciary funds, accounts receivable and derivatives ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 216.00 Td (which are recorded at fair value.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 179.37 216.00 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 198.00 Td (The Company maintains a policy providing for the diversification of cash and cash equivalent investments and places such ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 186.00 Td (investments in an extensive number of financial institutions to limit the amount of credit risk exposure. ) Tj ET Q q 0 0 0 rg BT 464.46 186.00 Td (These financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 174.00 Td (institutions are monitored on an ongoing basis for credit quality predominantly using information provided by credit agencies. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.11 174.00 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 153.00 Td (Concentrations of credit risk with respect to receivables are limited due to the lar) Tj ET Q q 0 0 0 rg BT 373.32 153.00 Td (ge number of clients and markets in which the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 141.00 Td (Company does business, as well as the dispersion across many geographic areas. Management does not believe significant risk ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 129.00 Td (exists in connection with the Company) Tj ET Q q 0 0 0 rg BT 208.59 129.00 Td (s concentrations of credit as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.54 129.00 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.13 129.00 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.63 129.00 Td ( ) Tj ET Q endstream endobj 147 0 obj <><><><><><><><><><><><><><>] /Rotate 0 /Contents 148 0 R>> endobj 148 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (73) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (ITEM 8. FINANCIAL) Tj ET Q q 0 0 0 rg BT 145.29 742.25 Td ( ST) Tj ET Q q 0 0 0 rg BT 159.28 742.25 Td (A) Tj ET Q q 0 0 0 rg BT 165.76 742.25 Td (TEMENTS ) Tj ET Q q 0 0 0 rg BT 216.61 742.25 Td (AND SUPPLEMENT) Tj ET Q q 0 0 0 rg BT 308.37 742.25 Td (AR) Tj ET Q q 0 0 0 rg BT 322.46 742.25 Td (Y) Tj ET Q q 0 0 0 rg BT 329.31 742.25 Td ( DA) Tj ET Q q 0 0 0 rg BT 345.51 742.25 Td (T) Tj ET Q q 0 0 0 rg BT 351.44 742.25 Td (A) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 235.75 708.05 Td (WILLIS ) Tj ET Q q 0 0 0 rg BT 278.65 708.05 Td (T) Tj ET Q q 0 0 0 rg BT 285.79 708.05 Td (OWERS ) Tj ET Q q 0 0 0 rg BT 329.30 708.05 Td (W) Tj ET Q q 0 0 0 rg BT 339.08 708.05 Td (A) Tj ET Q q 0 0 0 rg BT 346.21 708.05 Td (TSON) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 247.95 682.85 Td (INDEX ) Tj ET Q q 0 0 0 rg BT 285.95 682.85 Td (T) Tj ET Q q 0 0 0 rg BT 293.09 682.85 Td (O FORM 10-K) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 220.30 657.65 Td (For the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 254.52 657.65 Td (year ended) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 302.46 657.65 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 305.21 657.65 Td (December31, 2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 391.65 657.65 Td ( ) Tj ET Q 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 528.5 632.15 m 562.5 632.15 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 636.82 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 534.70 636.83 Td (Page) Tj ET Q BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 53 620.4100585937499 m 263.45849609375 620.4100585937499 l s q 0 0 1 rg BT 53.00 621.61 Td (Report of Independent Registered Public ) Tj ET Q q 0 0 1 rg BT 201.72 621.61 Td (Accounting Firm) Tj ET Q BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 53 605.4100585937499 m 434.12451171875 605.4100585937499 l s q 0 0 1 rg BT 53.00 606.61 Td (Consolidated Statements of Operations for each of the three years in the period ended December 31, 2016) Tj ET Q BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 53 592.21005859375 m 505.8564453125 592.21005859375 l s q 0 0 1 rg BT 53.00 593.41 Td (Consolidated Statements of Comprehensive Income/\(Loss\) for each of the three years in the period ended December 31, 2016) Tj ET Q BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 53 575.4100585937499 m 285.43994140625 575.4100585937499 l s q 0 0 1 rg BT 53.00 576.61 Td (Consolidated Balance Sheets as of December 31, 2016 and 2015) Tj ET Q BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 53 560.4100585937499 m 436.89306640625 560.4100585937499 l s q 0 0 1 rg BT 53.00 561.61 Td (Consolidated Statements of Cash Flows for each of the three years in the period ended December 31, 2016) Tj ET Q BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 53 545.4100585937499 m 461.12890625 545.4100585937499 l s q 0 0 1 rg BT 53.00 546.61 Td (Consolidated Statements of Changes in Equity for each of the three years in the period ended December 31, 2016) Tj ET Q BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 53 530.4100585937499 m 223.72314453125 530.4100585937499 l s q 0 0 1 rg BT 53.00 531.61 Td (Notes to the Consolidated Financial Statements) Tj ET Q BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 540 620.4833984375 m 550 620.4833984375 l s q 0 0 1 rg BT 540.00 621.82 Td (74) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 540 605.4833984375 m 550 605.4833984375 l s q 0 0 1 rg BT 540.00 606.82 Td (75) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 540 590.4833984375 m 550 590.4833984375 l s q 0 0 1 rg BT 540.00 591.82 Td (76) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 540 575.4833984375 m 550 575.4833984375 l s q 0 0 1 rg BT 540.00 576.82 Td (77) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 540 560.4833984375 m 550 560.4833984375 l s q 0 0 1 rg BT 540.00 561.82 Td (78) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 540 545.4833984375 m 550 545.4833984375 l s q 0 0 1 rg BT 540.00 546.82 Td (79) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 540 530.4833984375 m 550 530.4833984375 l s q 0 0 1 rg BT 540.00 531.82 Td (80) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 149 0 obj <> endobj 150 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (74) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 721.25 Td (REPOR) Tj ET Q q 0 0 0 rg BT 84.65 721.25 Td (T) Tj ET Q q 0 0 0 rg BT 91.14 721.25 Td ( OF) Tj ET Q q 0 0 0 rg BT 107.15 721.25 Td ( INDEPENDENT) Tj ET Q q 0 0 0 rg BT 182.26 721.25 Td ( REGISTERED PUBLIC ) Tj ET Q q 0 0 0 rg BT 292.57 721.25 Td (ACCOUNTING FIRM) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 700.25 Td (T) Tj ET Q q 0 0 0 rg BT 55.75 700.25 Td (o the Board of Dir) Tj ET Q q 0 0 0 rg BT 133.34 700.25 Td (ectors and Shar) Tj ET Q q 0 0 0 rg BT 200.38 700.25 Td (eholders of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 688.25 Td (W) Tj ET Q q 0 0 0 rg BT 59.82 688.25 Td (illis ) Tj ET Q q 0 0 0 rg BT 77.14 688.25 Td (T) Tj ET Q q 0 0 0 rg BT 82.90 688.25 Td (owers ) Tj ET Q q 0 0 0 rg BT 110.21 688.25 Td (W) Tj ET Q q 0 0 0 rg BT 119.65 688.25 Td (atson Public Limited Company) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 676.25 Td (Dublin, Ir) Tj ET Q q 0 0 0 rg BT 92.61 676.25 Td (eland) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 655.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 655.25 Td (e have audited the accompanying consolidated balance sheets of ) Tj ET Q q 0 0 0 rg BT 318.08 655.25 Td (W) Tj ET Q q 0 0 0 rg BT 327.11 655.25 Td (illis ) Tj ET Q q 0 0 0 rg BT 344.44 655.25 Td (T) Tj ET Q q 0 0 0 rg BT 349.85 655.25 Td (owers ) Tj ET Q q 0 0 0 rg BT 376.05 655.25 Td (W) Tj ET Q q 0 0 0 rg BT 384.69 655.25 Td (atson Public Limited Company and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 643.25 Td (subsidiaries \(the Company\) as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 193.02 643.25 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 271.60 643.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.04 643.25 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.04 643.25 Td (, and the related consolidated statements of operations, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 631.25 Td (comprehensive income/\(loss\), changes in equity) Tj ET Q q 0 0 0 rg BT 241.80 631.25 Td (, and cash flows for each of the three years in the period ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.75 631.25 Td (December31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 619.25 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 619.25 Td (. ) Tj ET Q q 0 0 0 rg BT 74.82 619.25 Td (These consolidated financial statements are the responsibility of the Company) Tj ET Q q 0 0 0 rg BT 390.01 619.25 Td (s management. Our responsibility is to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 607.25 Td (express an opinion on these consolidated financial statements based on our audits.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 586.25 Td (e conducted our audits in accordance with the standards of the Public Company ) Tj ET Q q 0 0 0 rg BT 378.83 586.25 Td (Accounting Oversight Board \(UnitedStates\). ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.25 Td (Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.25 Td (statements are free of material misstatement. ) Tj ET Q q 0 0 0 rg BT 230.76 562.25 Td (An audit includes examining, on a test basis, evidence supporting the amounts and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.25 Td (disclosures in the financial statements. ) Tj ET Q q 0 0 0 rg BT 206.07 550.25 Td (An audit also includes assessing the accounting principles used and significant estimates ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.25 Td (made by management, as well as evaluating the overall financial statement presentation. ) Tj ET Q q 0 0 0 rg BT 405.24 538.25 Td (W) Tj ET Q q 0 0 0 rg BT 413.88 538.25 Td (e believe that our audits provide a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.25 Td (reasonable basis for our opinion.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 505.25 Td (In our opinion, such consolidated financial statements present fairly) Tj ET Q q 0 0 0 rg BT 320.66 505.25 Td (, in all material respects, the financial position of ) Tj ET Q q 0 0 0 rg BT 518.48 505.25 Td (W) Tj ET Q q 0 0 0 rg BT 527.51 505.25 Td (illis ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 493.25 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 493.25 Td (owers ) Tj ET Q q 0 0 0 rg BT 81.61 493.25 Td (W) Tj ET Q q 0 0 0 rg BT 90.25 493.25 Td (atson Public Limited Company and subsidiaries as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.78 493.25 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.36 493.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.80 493.25 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.80 493.25 Td (, and the results of their ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 481.25 Td (operations and their cash flows for each of the three years in the period ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.93 481.25 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.52 481.25 Td (, in conformity with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 469.25 Td (accounting principles generally accepted in the United States of ) Tj ET Q q 0 0 0 rg BT 306.86 469.25 Td (America.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 448.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 448.25 Td (e have also audited, in accordance with the standards of the Public Company ) Tj ET Q q 0 0 0 rg BT 367.44 448.25 Td (Accounting Oversight Board \(UnitedStates\), ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 436.25 Td (the Company) Tj ET Q q 0 0 0 rg BT 106.38 436.25 Td (s internal control over financial reporting as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.21 436.25 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.79 436.25 Td (, based on the criteria established in ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 519.30 436.25 Td (Internal ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 424.25 Td (Contr) Tj ET Q q 0 0 0 rg BT 72.97 424.25 Td (ol Integrated Framework \(2013\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.61 424.25 Td ( issued by the Committee of Sponsoring Or) Tj ET Q q 0 0 0 rg BT 388.03 424.25 Td (ganizations of the ) Tj ET Q q 0 0 0 rg BT 461.44 424.25 Td (T) Tj ET Q q 0 0 0 rg BT 467.20 424.25 Td (readway Commission ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 412.25 Td (and our report dated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 133.30 412.25 Td (March1, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.90 412.25 Td ( expressed an unqualified opinion on the Company) Tj ET Q q 0 0 0 rg BT 398.25 412.25 Td (s internal control over financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 400.25 Td (reporting.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.25 Td (/s/ ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 61.95 358.25 Td (Deloitte LLP) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.25 Td (London, United Kingdom) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.25 Td (March1, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.60 334.25 Td ( ) Tj ET Q endstream endobj 151 0 obj <> endobj 152 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (75) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 242.15 742.25 Td (WILLIS ) Tj ET Q q 0 0 0 rg BT 281.15 742.25 Td (T) Tj ET Q q 0 0 0 rg BT 287.64 742.25 Td (OWERS ) Tj ET Q q 0 0 0 rg BT 327.19 742.25 Td (W) Tj ET Q q 0 0 0 rg BT 336.09 742.25 Td (A) Tj ET Q q 0 0 0 rg BT 342.57 742.25 Td (TSON) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 222.50 730.25 Td (Consolidated Statements of Operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 206.15 718.25 Td (\(in millions of U.S. dollars, except per share data\)) Tj ET Q 0.8 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230.75 m 562.5 230.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 691.42 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 420.30 691.20 Td (Years ended December 31,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 676.42 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 354.50 676.20 Td (Note) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 400.00 676.20 Td (2016) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 462.00 676.20 Td (2015) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 524.00 676.20 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 661.42 Td (Revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 646.42 Td (Commissions and fees) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 646.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.15 646.42 Td (7,778) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 646.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.15 646.42 Td (3,809) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 646.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 646.42 Td (3,767) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 631.42 Td (Interest and other income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 631.42 Td (109) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 631.42 Td (20) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 631.42 Td (35) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 616.42 Td (Total revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.15 616.42 Td (7,887) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.15 616.42 Td (3,829) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 616.42 Td (3,802) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 601.42 Td (Costs of providing services) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 586.42 Td (Salaries and benefits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.15 586.42 Td (4,646) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.15 586.42 Td (2,303) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 586.42 Td (2,314) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 571.42 Td (Other operating expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.15 571.42 Td (1,551) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 571.42 Td (718) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 571.42 Td (659) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 556.42 Td (Depreciation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.60 556.42 Td (7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 556.42 Td (178) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 556.42 Td (95) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 556.42 Td (92) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 541.42 Td (Amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.60 541.42 Td (8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 541.42 Td (591) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 541.42 Td (76) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 541.42 Td (54) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 526.42 Td (Restructuring costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.60 526.42 Td (5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 526.42 Td (193) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 526.42 Td (126) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 526.42 Td (36) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 511.42 Td (Transaction and integration expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 511.42 Td (177) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 511.42 Td (84) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 511.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 496.42 Td (Total costs of providing services) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.15 496.42 Td (7,336) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.15 496.42 Td (3,402) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 496.42 Td (3,155) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 481.42 Td (Income from operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 481.42 Td (551) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 481.42 Td (427) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 481.42 Td (647) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 466.42 Td (Interest expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 466.42 Td (184) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 466.42 Td (142) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 466.42 Td (135) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 451.42 Td (Other expense/\(income\), net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.60 451.42 Td (15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 451.42 Td (27) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.30 451.47 Td (\(55) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 451.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 451.47 Td (\(6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 451.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 436.42 Td (INCOME FROM CONTINUING OPERATIONS BEFORE INCOME) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 426.42 Td (TAXES AND INTEREST IN EARNINGS OF ASSOCIATES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 426.42 Td (340) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 426.42 Td (340) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 426.42 Td (518) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 411.42 Td (\(Benefit from\)/provision for income taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.60 411.42 Td (6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.30 411.47 Td (\(96) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 411.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.30 411.47 Td (\(33) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 411.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 411.42 Td (159) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 396.42 Td (INCOME FROM CONTINUING OPERATIONS BEFORE INTEREST) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 386.42 Td (IN EARNINGS OF ASSOCIATES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 386.42 Td (436) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 386.42 Td (373) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 386.42 Td (359) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 371.42 Td (Interest in earnings of associates, net of tax) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.65 371.42 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 371.42 Td (11) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 371.42 Td (14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 356.42 Td (NET INCOME) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 356.42 Td (438) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 356.42 Td (384) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 356.42 Td (373) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 341.42 Td (Income attributable to noncontrolling interests) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.30 341.47 Td (\(18) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 341.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.30 341.47 Td (\(11) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 341.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 341.47 Td (\(11) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 341.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 326.42 Td (NET INCOME ATTRIBUTABLE TO WILLIS TOWERS WATSON) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 326.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 326.42 Td (420) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 326.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 326.42 Td (373) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 326.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 326.42 Td (362) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 296.42 Td (EARNINGS PER SHARE ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 162.18 300.95 Td (\(i\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 281.42 Td (Basic earnings per share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.60 281.42 Td (18) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 281.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.15 281.42 Td (3.07) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 281.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.15 281.42 Td (5.49) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 281.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 281.42 Td (5.40) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 266.42 Td (Diluted earnings per share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.60 266.42 Td (18) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 266.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.15 266.42 Td (3.04) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 266.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.15 266.42 Td (5.41) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 266.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 266.42 Td (5.32) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 236.42 Td (Cash dividends declared per share ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 192.12 240.95 Td (\(i\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 236.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.15 236.42 Td (1.92) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 236.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.15 236.42 Td (3.28) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 236.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 236.42 Td (3.18) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 220.25 Td (____________________) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 150.00 220.25 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 68.00 207.65 Td (\(i\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 207.65 Td (Basic and diluted earnings per share and cash dividends declared per share, for the years ended December 31, 2015 and 2014 have been ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 198.05 Td (retroactively adjusted to reflect the reverse stock split on January 4, 2016.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 322.14 198.05 Td ( See ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 339.70 198.05 Td (Note 3) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 361.25 198.05 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 373.25 198.05 Td (Mer) Tj ET Q q 0 0 0 rg BT 386.43 198.05 Td (ger and ) Tj ET Q q 0 0 0 rg BT 411.75 198.05 Td (Acquisitions) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 452.20 198.05 Td ( for further details.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 176.45 177.05 Td (See accompanying notes to the consolidated financial statements) Tj ET Q endstream endobj 153 0 obj <> endobj 154 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (76) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 242.15 742.25 Td (WILLIS ) Tj ET Q q 0 0 0 rg BT 281.15 742.25 Td (T) Tj ET Q q 0 0 0 rg BT 287.64 742.25 Td (OWERS ) Tj ET Q q 0 0 0 rg BT 327.19 742.25 Td (W) Tj ET Q q 0 0 0 rg BT 336.09 742.25 Td (A) Tj ET Q q 0 0 0 rg BT 342.57 742.25 Td (TSON) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 181.65 730.25 Td (Consolidated Statements of Compr) Tj ET Q q 0 0 0 rg BT 331.19 730.25 Td (ehensive Income/\(Loss\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 250.70 718.25 Td (\(in millions of U.S. dollars\)) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 681.75 301.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.50 681.75 25.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 681.75 4.00 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(438) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 671.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 671.42 Td (384) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 671.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 671.42 Td (373) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 656.42 Td (Other comprehensive \(loss\)/income, net of tax:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 641.42 Td (Foreign currency translation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.60 641.42 Td (16) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.30 641.47 Td (\(353) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 641.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.30 641.47 Td (\(133) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 641.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 641.47 Td (\(183) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 641.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 626.42 Td (Defined pension and post-retirement 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noncontrolling interests) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.65 556.42 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.30 556.47 Td (\(1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 556.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 556.47 Td (\(5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 556.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 541.42 Td (Comprehensive \(loss\)/income attributable to Willis Towers Watson) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 541.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.30 541.47 Td (\(427) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 541.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 541.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 541.42 Td (402) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 541.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 541.47 Td (\(11) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 541.42 Td (\)) Tj ET Q BT /F1 10.00 Tf 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0.9333333333333333 1 rg /GS0 gs 432.00 381.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.00 381.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 381.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 59.00 351.75 334.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 393.00 351.75 35.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 351.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 432.00 351.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.00 351.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 351.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 59.00 321.75 334.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 393.00 321.75 35.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 321.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 432.00 321.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.00 321.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 321.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 59.00 291.75 334.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 393.00 291.75 35.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 291.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 432.00 291.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.00 291.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 291.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 59.00 241.75 334.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 393.00 241.75 35.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 241.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 432.00 241.75 58.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.00 241.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 241.75 58.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 59.00 191.75 334.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 393.00 191.75 35.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 191.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 432.00 191.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.00 191.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 191.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 59.00 161.75 334.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 393.00 161.75 35.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 161.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 432.00 161.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.00 161.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 161.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 59.00 121.75 334.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 393.00 121.75 35.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 121.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 432.00 121.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.00 121.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 121.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 59.00 91.75 334.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 393.00 91.75 35.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 91.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 432.00 91.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.00 91.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 91.75 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 393 711.75 m 428 711.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432 711.75 m 490 711.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 711.75 m 552 711.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432 636.75 m 490 636.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 636.75 m 552 636.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432 546.75 m 490 546.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 546.75 m 552 546.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432 531.75 m 490 531.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 531.75 m 552 531.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432 517.75 m 490 517.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432 515.75 m 490 515.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 517.75 m 552 517.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 515.75 m 552 515.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432 441.75 m 490 441.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 441.75 m 552 441.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432 351.75 m 490 351.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 351.75 m 552 351.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432 351.75 m 490 351.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432 336.75 m 490 336.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 351.75 m 552 351.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 336.75 m 552 336.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432 121.75 m 490 121.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 121.75 m 552 121.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 121.75 m 552 121.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432 91.75 m 490 91.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 91.75 m 552 91.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432 76.75 m 490 76.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 76.75 m 552 76.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432 62.75 m 490 62.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432 60.75 m 490 60.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 62.75 m 552 62.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 60.75 m 552 60.75 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 402.00 715.98 Td (Note) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 437.25 723.98 Td (December 31,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 452.50 715.98 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 499.25 723.98 Td (December 31,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 514.50 715.98 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.50 701.42 Td (ASSETS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 686.42 Td (Cash and cash equivalents) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.50 686.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 686.42 Td (870) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.50 686.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.15 686.42 Td (532) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 671.42 Td (Fiduciary assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.65 671.42 Td (10,505) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.65 671.42 Td (10,458) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 656.42 Td (Accounts receivable, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.15 656.42 Td (14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.65 656.42 Td (2,080) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 656.42 Td (1,258) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 641.42 Td (Prepaid and other current assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.15 641.42 Td (14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 641.42 Td (337) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.15 641.42 Td (255) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.50 626.42 Td (Total current assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.65 626.42 Td (13,792) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.65 626.42 Td (12,503) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 611.42 Td (Fixed assets, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.15 611.42 Td (7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 611.42 Td (839) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.15 611.42 Td (563) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 596.42 Td (Goodwill) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.15 596.42 Td (8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.65 596.42 Td (10,413) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 596.42 Td (3,737) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 581.42 Td (Other intangible assets, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.15 581.42 Td (8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.65 581.42 Td (4,368) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 581.42 Td (1,115) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 566.42 Td (Pension benefits assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.15 566.42 Td (12) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 566.42 Td (488) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.15 566.42 Td (623) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 551.42 Td (Other non-current assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.15 551.42 Td (14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 551.42 Td (353) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.15 551.42 Td (298) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.50 536.42 Td (Total non-current assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.65 536.42 Td (16,461) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 536.42 Td (6,336) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.50 521.42 Td (TOTAL ASSETS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.50 521.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.65 521.42 Td (30,253) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.50 521.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.65 521.42 Td (18,839) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.50 506.42 Td (LIABILITIES AND EQUITY) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 491.42 Td (Fiduciary liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.50 491.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.65 491.42 Td (10,505) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.50 491.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.65 491.42 Td (10,458) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 476.42 Td (Deferred revenue and accrued expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.65 476.42 Td (1,481) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.15 476.42 Td (752) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 461.42 Td (Short-term debt and current portion of long-term debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.15 461.42 Td (10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 461.42 Td (508) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.15 461.42 Td (988) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 446.42 Td (Other current liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.15 446.42 Td (14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 446.42 Td (876) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.15 446.42 Td (603) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.50 431.42 Td (Total current liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.65 431.42 Td (13,370) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.65 431.42 Td (12,801) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 416.42 Td (Long-term debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.15 416.42 Td (10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.65 416.42 Td (3,357) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 416.42 Td (2,278) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 401.42 Td (Liability for pension benefits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.15 401.42 Td (12) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.65 401.42 Td (1,321) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.15 401.42 Td (279) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 386.42 Td (Deferred tax liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.15 386.42 Td (6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 386.42 Td (864) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.15 386.42 Td (240) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 371.42 Td (Provision for liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.15 371.42 Td (14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 371.42 Td (575) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.15 371.42 Td (295) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 356.42 Td (Other non-current liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.15 356.42 Td (14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 356.42 Td (532) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.15 356.42 Td (533) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.50 341.42 Td (Total non-current liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.65 341.42 Td (6,649) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 341.42 Td (3,625) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.50 326.42 Td (TOTAL LIABILITIES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.65 326.42 Td (20,019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.65 326.42 Td (16,426) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.50 311.42 Td (COMMITMENTS AND CONTINGENCIES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.15 311.42 Td (13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.50 296.42 Td (REDEEMABLE NONCONTROLLING INTEREST) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.15 296.42 Td (51) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.15 296.42 Td (53) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.50 281.42 Td (EQUITY) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 266.42 Td (Ordinary shares, $0.000304635 nominal value; Authorized: 1,510,003,775;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.50 256.42 Td (Issued: 137,075,068 and 68,624,892; Outstanding: 136,296,771 and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.50 246.42 Td (68,624,892) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.15 246.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.15 246.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 231.42 Td (Ordinary shares, 1 nominal value; Authorized: 40,000; Issued 40,000shares) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.50 221.42 Td (in 2016 and 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.15 221.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.15 221.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 206.42 Td (Preference shares, $0.000115 nominal value; Authorized: 1,000,000,000;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.50 196.42 Td (Issued nil shares in 2016 and 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.15 196.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.15 196.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 181.42 Td (Additional paid-in capital) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.65 181.42 Td (10,596) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 181.42 Td (1,672) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 166.42 Td (Retained earnings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.65 166.42 Td (1,452) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 166.42 Td (1,597) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 151.42 Td (Accumulated other comprehensive loss, net of tax) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.15 151.42 Td (16) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.30 151.47 Td (\(1,884) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.15 151.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.30 151.47 Td (\(1,037) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 151.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 136.42 Td (Treasury shares, at cost, 795,816 in 2016 and 17,519in 2015; 40,000shares, 1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.50 126.42 Td (nominal value, in 2016 and 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.80 126.47 Td (\(99) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.15 126.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.80 126.47 Td (\(3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 126.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 111.42 Td (Total Willis Towers Watson shareholders equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.65 111.42 Td (10,065) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 111.42 Td (2,229) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 96.42 Td (Noncontrolling interests) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 96.42 Td (118) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.15 96.42 Td (131) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 81.42 Td (Total equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.65 81.42 Td (10,183) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 81.42 Td (2,360) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.50 66.42 Td (TOTAL LIABILITIES AND EQUITY) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.50 66.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.65 66.42 Td (30,253) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.50 66.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.65 66.42 Td (18,839) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 176.45 50.25 Td (See accompanying notes to the consolidated financial statements) Tj ET Q endstream endobj 157 0 obj <> endobj 158 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 24.60 Td (78) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 242.15 767.25 Td (WILLIS ) Tj ET Q q 0 0 0 rg BT 281.15 767.25 Td (T) Tj ET Q q 0 0 0 rg BT 287.64 767.25 Td (OWERS ) Tj ET Q q 0 0 0 rg BT 327.19 767.25 Td (W) Tj ET Q q 0 0 0 rg BT 336.09 767.25 Td (A) Tj ET Q q 0 0 0 rg BT 342.57 767.25 Td (TSON) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 221.80 755.25 Td (Consolidated Statements of Cash Flows) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 250.70 743.25 Td (\(in millions of U.S. dollars\)) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 696.75 314.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 363.00 696.75 25.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.00 696.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 392.00 696.75 54.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 446.00 696.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.00 696.75 53.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 696.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.00 696.75 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 668.75 314.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 363.00 668.75 25.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.00 668.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 392.00 668.75 54.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 446.00 668.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.00 668.75 53.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 668.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.00 668.75 55.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 631.75 314.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 363.00 631.75 25.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.00 631.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 392.00 631.75 54.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 446.00 631.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.00 631.75 53.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 631.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.00 631.75 55.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 607.75 314.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 363.00 607.75 25.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.00 607.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 392.00 607.75 54.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 446.00 607.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.00 607.75 53.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 607.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.00 607.75 55.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 583.75 314.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 363.00 583.75 25.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.00 583.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 392.00 583.75 54.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 446.00 583.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.00 583.75 53.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 583.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.00 583.75 55.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 559.75 314.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 363.00 559.75 25.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.00 559.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 392.00 559.75 54.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 446.00 559.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.00 559.75 53.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 559.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.00 559.75 55.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 522.75 314.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 363.00 522.75 25.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.00 522.75 4.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 392.00 522.75 54.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 446.00 522.75 4.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.00 522.75 53.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 522.75 4.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.00 522.75 55.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 486.75 314.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 363.00 486.75 25.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.00 486.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 392.00 486.75 54.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 446.00 486.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.00 486.75 53.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 486.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.00 486.75 55.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 462.75 314.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 363.00 462.75 25.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.00 462.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 392.00 462.75 54.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 446.00 462.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.00 462.75 53.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 462.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.00 462.75 55.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 438.75 314.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 363.00 438.75 25.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.00 438.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 392.00 438.75 54.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 446.00 438.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.00 438.75 53.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 438.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.00 438.75 55.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 414.75 314.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 363.00 414.75 25.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.00 414.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 392.00 414.75 54.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 446.00 414.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.00 414.75 53.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 414.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.00 414.75 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 389.75 314.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 363.00 389.75 25.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.00 389.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 392.00 389.75 54.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 446.00 389.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.00 389.75 53.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 389.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.00 389.75 55.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 365.75 314.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 363.00 365.75 25.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.00 365.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 392.00 365.75 54.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 446.00 365.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.00 365.75 53.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 365.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.00 365.75 55.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 341.75 314.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 363.00 341.75 25.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.00 341.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 392.00 341.75 54.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 446.00 341.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.00 341.75 53.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 341.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.00 341.75 55.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 317.75 314.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 363.00 317.75 25.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.00 317.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 392.00 317.75 54.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 446.00 317.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.00 317.75 53.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 317.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.00 317.75 55.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 293.75 314.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 363.00 293.75 25.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.00 293.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 392.00 293.75 54.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 446.00 293.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.00 293.75 53.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 293.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.00 293.75 55.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 269.75 314.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 363.00 269.75 25.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.00 269.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 392.00 269.75 54.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 446.00 269.75 4.00 -12.00 re f /GS0 gs 0.8 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0 J 0 j 3 M 450 121.75 m 503 121.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 450 119.75 m 503 119.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507 121.75 m 562 121.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507 119.75 m 562 119.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 714.42 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 425.80 714.20 Td (Years ended December 31,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 700.32 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 366.00 701.15 Td (Note) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 409.50 701.15 Td (2016) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 467.00 701.15 Td (2015) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 525.00 701.15 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 687.32 Td (CASH FLOWS FROM OPERATING ACTIVITIES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 60.50 673.32 Td (NET INCOME) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.50 673.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.15 673.32 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442.15 562.37 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 562.37 Td (73) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 562.37 Td (39) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 549.42 Td (Net gain on disposal of operations and fixed and intangible assets and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.50 539.42 Td (gain on remeasurement of equity interests) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.15 539.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.80 539.47 Td (\(90) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.15 539.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.80 539.47 Td (\(17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 539.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 525.37 Td (Other, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.15 525.37 Td (27) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.80 525.37 Td (\(8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.15 525.37 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 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rg BT 480.80 477.37 Td (\(508) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.15 477.37 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.80 477.37 Td (\(887) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 477.37 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 465.37 Td (Fiduciary liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.15 465.37 Td (249) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 465.37 Td (508) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.15 465.37 Td (887) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 453.37 Td (Other assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.80 453.37 Td (\(233) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.15 453.37 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.80 453.37 Td (\(5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.15 453.37 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 453.37 Td (16) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 441.37 Td (Other liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 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0 rg BT 427.15 368.37 Td (476) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.80 368.37 Td (\(857) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.15 368.37 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.80 368.37 Td (\(245) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 368.37 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 356.37 Td (Net \(cash paid\)/proceeds from sale of operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.80 356.37 Td (\(1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.15 356.37 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 356.37 Td (44) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 356.37 Td (86) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 344.37 Td (Other, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.15 344.37 Td (23) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 344.37 Td (16) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.80 344.37 Td (\(4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 344.37 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.50 332.37 Td (Net cash from/\(used in\) investing activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.15 332.37 Td (195) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.80 332.37 Td (\(943) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.15 332.37 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.80 332.37 Td (\(276) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 332.37 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 320.37 Td (CASH FLOWS \(USED IN\)/FROM FINANCING ACTIVITIES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 308.37 Td (Net \(payments\)/borrowings on revolving credit facility) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.80 308.37 Td (\(237) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.15 308.37 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 308.37 Td (469) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 308.37 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 296.37 Td (Senior notes issued) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 296.37 Td (1,606) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 296.37 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 296.37 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 284.37 Td (Proceeds from issuance of other debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.15 284.37 Td (404) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 284.37 Td (592) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 284.37 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 272.37 Td (Debt issuance costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.80 272.37 Td (\(14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.15 272.37 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.80 272.37 Td (\(5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.15 272.37 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.80 272.37 Td (\(3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 272.37 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 260.37 Td (Repayments of debt) Tj ET Q BT /F1 10.00 Tf ET 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566.95 55.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 564.50 566.95 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 568.50 566.95 35.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 36.50 542.95 112.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 148.50 542.95 44.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 192.50 542.95 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 196.50 542.95 36.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 232.50 542.95 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 236.50 542.95 35.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 271.50 542.95 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 275.50 542.95 35.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.50 542.95 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 542.95 27.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 341.50 542.95 4.00 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gs 0.8 0.9333333333333333 1 rg /GS0 gs 192.50 518.95 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 196.50 518.95 36.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 232.50 518.95 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 236.50 518.95 35.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 271.50 518.95 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 275.50 518.95 35.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.50 518.95 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 518.95 27.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 341.50 518.95 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 345.50 518.95 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.50 518.95 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 395.50 518.95 54.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 449.50 518.95 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 453.50 518.95 44.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 518.95 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 518.95 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 518.95 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 518.95 55.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 564.50 518.95 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 568.50 518.95 35.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 36.50 494.95 112.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 148.50 494.95 44.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 192.50 494.95 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 196.50 494.95 36.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 232.50 494.95 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 236.50 494.95 35.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 271.50 494.95 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 275.50 494.95 35.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.50 494.95 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 494.95 27.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 341.50 494.95 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 345.50 494.95 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.50 494.95 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 395.50 494.95 54.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 449.50 494.95 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 453.50 494.95 44.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 494.95 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 494.95 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 494.95 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 494.95 55.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 564.50 494.95 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 568.50 494.95 35.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 36.50 470.95 112.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 148.50 470.95 44.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 192.50 470.95 4.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 196.50 470.95 36.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 232.50 470.95 4.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 236.50 470.95 35.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 271.50 470.95 4.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 275.50 470.95 35.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.50 470.95 4.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 470.95 27.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 341.50 470.95 4.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 345.50 470.95 46.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.50 470.95 4.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 395.50 470.95 54.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 449.50 470.95 4.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 453.50 470.95 44.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 470.95 4.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 470.95 4.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 470.95 4.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 470.95 55.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 564.50 470.95 4.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 568.50 470.95 35.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 36.50 423.95 112.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 148.50 423.95 44.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 192.50 423.95 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 196.50 423.95 36.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 232.50 423.95 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 236.50 423.95 35.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 271.50 423.95 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 275.50 423.95 35.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.50 423.95 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 423.95 27.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 341.50 423.95 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 345.50 423.95 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.50 423.95 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 395.50 423.95 54.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 449.50 423.95 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 453.50 423.95 44.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 423.95 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 423.95 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 423.95 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 423.95 55.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 564.50 423.95 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 568.50 423.95 35.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 36.50 399.95 112.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 148.50 399.95 44.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 192.50 399.95 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 196.50 399.95 36.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 232.50 399.95 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 236.50 399.95 35.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 271.50 399.95 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 275.50 399.95 35.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.50 399.95 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 399.95 27.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 341.50 399.95 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 345.50 399.95 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.50 399.95 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 395.50 399.95 54.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 449.50 399.95 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 453.50 399.95 44.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 399.95 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 399.95 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 399.95 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 399.95 55.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 564.50 399.95 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 568.50 399.95 35.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 36.50 367.95 112.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 148.50 367.95 44.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 192.50 367.95 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 196.50 367.95 36.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 232.50 367.95 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 236.50 367.95 35.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 271.50 367.95 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 275.50 367.95 35.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.50 367.95 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 367.95 27.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 341.50 367.95 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 345.50 367.95 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.50 367.95 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 395.50 367.95 54.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 449.50 367.95 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 453.50 367.95 44.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 367.95 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 367.95 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 367.95 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 367.95 55.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 564.50 367.95 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 568.50 367.95 35.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 36.50 343.95 112.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 148.50 343.95 44.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 192.50 343.95 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 196.50 343.95 36.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 232.50 343.95 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 236.50 343.95 35.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 271.50 343.95 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 275.50 343.95 35.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.50 343.95 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 343.95 27.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 341.50 343.95 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 345.50 343.95 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.50 343.95 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 395.50 343.95 54.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 449.50 343.95 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 453.50 343.95 44.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 343.95 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 343.95 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 343.95 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 343.95 55.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 564.50 343.95 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 568.50 343.95 35.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 36.50 311.95 112.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 148.50 311.95 44.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 192.50 311.95 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 196.50 311.95 36.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 232.50 311.95 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 236.50 311.95 35.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 271.50 311.95 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 275.50 311.95 35.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.50 311.95 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 311.95 27.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 341.50 311.95 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 345.50 311.95 46.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.50 311.95 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 395.50 311.95 54.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 449.50 311.95 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 453.50 311.95 44.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 311.95 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 311.95 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 311.95 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 311.95 55.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 564.50 311.95 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 568.50 311.95 35.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 36.50 272.95 112.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 148.50 272.95 44.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 192.50 272.95 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 196.50 272.95 36.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 232.50 272.95 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 236.50 272.95 35.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 271.50 272.95 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 275.50 272.95 35.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.50 272.95 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 272.95 27.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 341.50 272.95 4.00 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rg BT 436.50 618.10 Td (\(17) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 446.50 618.10 Td (\)) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 480.75 618.10 Td (\(231) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 494.50 618.10 Td (\)) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 554.00 618.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 39.00 605.60 Td (Other comprehensive income/) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 39.00 598.10 Td (\(loss\)) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 182.00 598.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 222.00 598.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 261.00 598.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 300.00 598.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 324.75 598.10 Td (\(373) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 338.50 598.10 Td (\)) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 374.75 598.10 Td (\(373) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 388.50 598.10 Td (\)) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 440.25 598.10 Td (\(2) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 446.50 598.10 Td (\)) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 480.75 598.10 Td (\(375) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 494.50 598.10 Td (\)) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 555.25 598.10 Td (\(4) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 561.50 598.10 Td (\)) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 571.00 598.10 Td ($) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 586.75 598.10 Td (\(379) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 600.50 598.10 Td (\)) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 39.00 586.10 Td (Issue of shares under employee) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 39.00 578.60 Td (stock compensation plans and) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 39.00 571.10 Td (related tax benefits of $12) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 172.60 571.10 Td (1,832) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 218.25 571.10 Td (146) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 261.00 571.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 300.00 571.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 331.00 571.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 377.25 571.10 Td (146) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 439.00 571.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 483.25 571.10 Td (146) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 554.00 571.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 39.00 559.10 Td (Issue of shares for acquisitions) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 182.00 559.10 Td (14) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 225.75 559.10 Td (1) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 261.00 559.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 300.00 559.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 331.00 559.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 384.75 559.10 Td (1) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 439.00 559.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 490.75 559.10 Td (1) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 554.00 559.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 39.00 547.10 Td (Share-based compensation) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 182.00 547.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 222.00 547.10 Td (52) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 261.00 547.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 300.00 547.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 331.00 547.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 381.00 547.10 Td (52) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 439.00 547.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 487.00 547.10 Td (52) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 554.00 547.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 39.00 535.10 Td (Additional noncontrolling interests) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 182.00 535.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 222.00 535.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 261.00 535.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 300.00 535.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 331.00 535.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 381.00 535.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 442.75 535.10 Td (2) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 490.75 535.10 Td (2) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 554.00 535.10 Td (63) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 39.00 523.10 Td (Foreign currency translation) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 182.00 523.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 225.75 523.10 Td (9) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 261.00 523.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 300.00 523.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 331.00 523.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 384.75 523.10 Td (9) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 439.00 523.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 490.75 523.10 Td (9) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 554.00 523.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 39.00 511.10 Td (Balance as of December 31, 2014) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 168.85 511.10 Td (67,460) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 199.00 511.10 Td ($) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 212.60 511.10 Td (1,524) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 239.00 511.10 Td ($) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 251.60 511.10 Td (1,530) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 278.00 511.10 Td ($) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 301.25 511.10 Td (\(3) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 307.50 511.10 Td (\)) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 317.00 511.10 Td ($) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 319.10 511.10 Td (\(1,066) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 338.50 511.10 Td (\)) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 348.00 511.10 Td ($) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 371.60 511.10 Td (1,985) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 398.00 511.10 Td ($) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 439.00 511.10 Td (22) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 456.00 511.10 Td ($) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 477.60 511.10 Td (2,007) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 512.00 511.10 Td ($) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 554.00 511.10 Td (59) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 39.00 499.10 Td (Shares repurchased) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 175.75 499.10 Td (\(646) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 189.50 499.10 Td (\)) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 222.00 499.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 258.50 499.10 Td (\(82) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 268.50 499.10 Td (\)) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 300.00 499.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 331.00 499.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 378.50 499.10 Td (\(82) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 388.50 499.10 Td (\)) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 439.00 499.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 484.50 499.10 Td (\(82) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 494.50 499.10 Td (\)) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 554.00 499.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 39.00 487.10 Td (Net income) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 182.00 487.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 222.00 487.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 257.25 487.10 Td (373) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 300.00 487.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 331.00 487.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 377.25 487.10 Td (373) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 442.75 487.10 Td (8) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 483.25 487.10 Td (381) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 557.75 487.10 Td (3) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 571.00 487.10 Td ($) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 589.25 487.10 Td (384) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 39.00 475.10 Td (Dividends) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 182.00 475.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 222.00 475.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 254.75 475.10 Td (\(224) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 268.50 475.10 Td (\)) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 300.00 475.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 331.00 475.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 374.75 475.10 Td (\(224) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 388.50 475.10 Td (\)) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 436.50 475.10 Td (\(11) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 446.50 475.10 Td (\)) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 480.75 475.10 Td (\(235) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 494.50 475.10 Td (\)) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 555.25 475.10 Td (\(5) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 561.50 475.10 Td (\)) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 39.00 462.60 Td (Other comprehensive income/) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 39.00 455.10 Td (\(loss\)) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 182.00 455.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 222.00 455.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 261.00 455.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 300.00 455.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 331.00 455.10 Td (29) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 381.00 455.10 Td (29) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 440.25 455.10 Td (\(6) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 446.50 455.10 Td (\)) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 487.00 455.10 Td (23) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 555.25 455.10 Td (\(4) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 561.50 455.10 Td (\)) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 571.00 455.10 Td ($) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 593.00 455.10 Td (19) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 39.00 443.10 Td (Issue of shares under employee) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 39.00 435.60 Td (stock compensation plans and) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 39.00 428.10 Td (related tax benefits of $4) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 172.60 428.10 Td (1,811) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 218.25 428.10 Td (128) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 261.00 428.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 300.00 428.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 331.00 428.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 377.25 428.10 Td (128) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 439.00 428.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 483.25 428.10 Td (128) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 554.00 428.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 39.00 416.10 Td (Share-based compensation) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 182.00 416.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 222.00 416.10 Td (64) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 261.00 416.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 300.00 416.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 331.00 416.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 381.00 416.10 Td (64) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 439.00 416.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 487.00 416.10 Td (64) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 554.00 416.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 39.00 404.10 Td (Additional noncontrolling interest) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 182.00 404.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 219.50 404.10 Td (\(53) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 229.50 404.10 Td (\)) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 261.00 404.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 300.00 404.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 331.00 404.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 378.50 404.10 Td (\(53) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 388.50 404.10 Td (\)) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 435.25 404.10 Td (118) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 487.00 404.10 Td (65) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 554.00 404.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 39.00 392.10 Td (Foreign currency translation) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 182.00 392.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 225.75 392.10 Td (9) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 261.00 392.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 300.00 392.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 331.00 392.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 384.75 392.10 Td (9) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 439.00 392.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 490.75 392.10 Td (9) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 554.00 392.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 39.00 372.10 Td (Balance as of December 31, 2015) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 168.85 372.10 Td (68,625) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 199.00 372.10 Td ($) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 212.60 372.10 Td (1,672) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 239.00 372.10 Td ($) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 251.60 372.10 Td (1,597) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 278.00 372.10 Td ($) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 301.25 372.10 Td (\(3) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 307.50 372.10 Td (\)) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 317.00 372.10 Td ($) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 319.10 372.10 Td (\(1,037) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 338.50 372.10 Td (\)) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 348.00 372.10 Td ($) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 371.60 372.10 Td (2,229) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 398.00 372.10 Td ($) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 435.25 372.10 Td (131) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 456.00 372.10 Td ($) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 477.60 372.10 Td (2,360) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 512.00 372.10 Td ($) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 554.00 372.10 Td (53) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 39.00 360.10 Td (Shares repurchased) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 170.10 360.10 Td (\(3,170) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 189.50 360.10 Td (\)) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 222.00 360.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 254.75 360.10 Td (\(300) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 268.50 360.10 Td (\)) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 297.50 360.10 Td (\(96) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 307.50 360.10 Td (\)) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 331.00 360.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 374.75 360.10 Td (\(396) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 388.50 360.10 Td (\)) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 439.00 360.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 480.75 360.10 Td (\(396) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 494.50 360.10 Td (\)) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 554.00 360.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 39.00 348.10 Td (Net income) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 182.00 348.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 222.00 348.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 257.25 348.10 Td (420) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 300.00 348.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 331.00 348.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 377.25 348.10 Td (420) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 439.00 348.10 Td (11) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 483.25 348.10 Td (431) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 557.75 348.10 Td (7) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 571.00 348.10 Td ($) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 589.25 348.10 Td (438) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 39.00 336.10 Td (Dividends) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 182.00 336.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 222.00 336.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 254.75 336.10 Td (\(265) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 268.50 336.10 Td (\)) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 300.00 336.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 331.00 336.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 374.75 336.10 Td (\(265) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 388.50 336.10 Td (\)) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 440.25 336.10 Td (\(9) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 446.50 336.10 Td (\)) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 480.75 336.10 Td (\(274) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 494.50 336.10 Td (\)) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 555.25 336.10 Td (\(5) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 561.50 336.10 Td (\)) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 39.00 323.60 Td (Other comprehensive \(loss\)/) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 39.00 316.10 Td (income) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 182.00 316.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 222.00 316.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 261.00 316.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 300.00 316.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 324.75 316.10 Td (\(847) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 338.50 316.10 Td (\)) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 374.75 316.10 Td (\(847) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 388.50 316.10 Td (\)) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 436.50 316.10 Td (\(16) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 446.50 316.10 Td (\)) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 480.75 316.10 Td (\(863) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 494.50 316.10 Td (\)) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 555.25 316.10 Td (\(4) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 561.50 316.10 Td (\)) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 571.00 316.10 Td ($) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 586.75 316.10 Td (\(867) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 600.50 316.10 Td (\)) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 39.00 304.10 Td (Issue of shares under employee) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 39.00 296.60 Td (stock compensation plans and) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 39.00 289.10 Td (related tax benefits of $3) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 172.60 289.10 Td (1,342) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 222.00 289.10 Td (66) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 261.00 289.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 300.00 289.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 331.00 289.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 381.00 289.10 Td (66) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 439.00 289.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 487.00 289.10 Td (66) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 554.00 289.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 39.00 277.10 Td (Issue of shares for acquisitions) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 168.85 277.10 Td (69,500) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 212.60 277.10 Td (8,686) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 261.00 277.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 300.00 277.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 331.00 277.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 371.60 277.10 Td (8,686) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 439.00 277.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 477.60 277.10 Td (8,686) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 554.00 277.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 39.00 265.10 Td (Replacement share-based) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 39.00 257.60 Td (compensation awards issued on) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 39.00 250.10 Td (acquisition) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 182.00 250.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 222.00 250.10 Td (37) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 261.00 250.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 300.00 250.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 331.00 250.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 381.00 250.10 Td (37) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 439.00 250.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 487.00 250.10 Td (37) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 554.00 250.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 39.00 238.10 Td (Share-based compensation) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 182.00 238.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 218.25 238.10 Td (123) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 261.00 238.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 300.00 238.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 331.00 238.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 377.25 238.10 Td (123) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 439.00 238.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 483.25 238.10 Td (123) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 554.00 238.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 39.00 226.10 Td (Additional noncontrolling interests) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 182.00 226.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 225.75 226.10 Td (7) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 261.00 226.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 300.00 226.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 331.00 226.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 384.75 226.10 Td (7) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 442.75 226.10 Td (1) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 490.75 226.10 Td (8) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 554.00 226.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 39.00 214.10 Td (Foreign currency translation) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 182.00 214.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 225.75 214.10 Td (5) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 261.00 214.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 300.00 214.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 331.00 214.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 384.75 214.10 Td (5) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 439.00 214.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 490.75 214.10 Td (5) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 554.00 214.10 Td () Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 39.00 202.10 Td (Balance as of December 31, 2016) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 165.10 202.10 Td (136,297) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 199.00 202.10 Td ($) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 208.85 202.10 Td (10,596) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 239.00 202.10 Td ($) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 251.60 202.10 Td (1,452) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 278.00 202.10 Td ($) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 297.50 202.10 Td (\(99) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 307.50 202.10 Td (\)) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 317.00 202.10 Td ($) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 319.10 202.10 Td (\(1,884) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 338.50 202.10 Td (\)) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 348.00 202.10 Td ($) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 367.85 202.10 Td (10,065) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 398.00 202.10 Td ($) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 435.25 202.10 Td (118) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 456.00 202.10 Td ($) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 473.85 202.10 Td (10,183) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 512.00 202.10 Td ($) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 554.00 202.10 Td (51) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 36.00 186.45 Td (____________________) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 54.00 173.85 Td (\(i\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 72.00 173.85 Td (The nominal value of the ordinary shares and the number of ordinary shares issued in the years ended ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 399.01 173.85 Td (December31, 2015) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 461.88 173.85 Td ( and 2014 have been retroactively adjusted ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 72.00 164.25 Td (to reflect the reverse stock split on January 4, 2016. See ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 254.61 164.25 Td (Note 3) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 276.16 164.25 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 288.16 164.25 Td (Mer) Tj ET Q q 0 0 0 rg BT 301.35 164.25 Td (ger and ) Tj ET Q q 0 0 0 rg BT 326.67 164.25 Td (Acquisitions) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 367.12 164.25 Td ( for further details.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 54.00 151.65 Td (\(ii\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 72.00 151.65 Td (Additional paid-in capital \(APIC\).) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 54.00 139.05 Td (\(iii\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 72.00 139.05 Td (Additional other comprehensive loss, net of tax \(AOCL) Tj ET Q q 0 0 0 rg BT 252.11 139.05 Td (\).) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 54.00 126.45 Td (\(iv\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 72.00 126.45 Td (The noncontrolling interest is related to Max Matthiessen Holding ) Tj ET Q q 0 0 0 rg BT 285.52 126.45 Td (AB.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 207.95 102.45 Td (See accompanying notes to the consolidated financial statements) Tj ET Q endstream endobj 161 0 obj <> endobj 162 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (80) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 242.15 742.25 Td (WILLIS ) Tj ET Q q 0 0 0 rg BT 281.15 742.25 Td (T) Tj ET Q q 0 0 0 rg BT 287.64 742.25 Td (OWERS ) Tj ET Q q 0 0 0 rg BT 327.19 742.25 Td (W) Tj ET Q q 0 0 0 rg BT 336.09 742.25 Td (A) Tj ET Q q 0 0 0 rg BT 342.57 742.25 Td (TSON) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 205.30 730.25 Td (Notes to the Consolidated Financial Statements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 164.15 718.25 Td (\(T) Tj ET Q q 0 0 0 rg BT 172.89 718.25 Td (abular amounts are in millions of U.S. dollars, except per share data\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 697.25 Td (Note 1 Natur) Tj ET Q q 0 0 0 rg BT 117.86 697.25 Td (e of Operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 676.25 Td (W) Tj ET Q q 0 0 0 rg BT 59.04 676.25 Td (illis ) Tj ET Q q 0 0 0 rg BT 76.36 676.25 Td (T) Tj ET Q q 0 0 0 rg BT 81.77 676.25 Td (owers ) Tj ET Q q 0 0 0 rg BT 107.97 676.25 Td (W) Tj ET Q q 0 0 0 rg BT 116.61 676.25 Td (atson is a leading global advisory) Tj ET Q q 0 0 0 rg BT 249.55 676.25 Td (, broking and solutions company that helps clients around the world turn risk ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 664.25 Td (into a path for growth. ) Tj ET Q q 0 0 0 rg BT 142.02 664.25 Td (W) Tj ET Q q 0 0 0 rg BT 151.06 664.25 Td (illis ) Tj ET Q q 0 0 0 rg BT 168.38 664.25 Td (T) Tj ET Q q 0 0 0 rg BT 173.79 664.25 Td (owers ) Tj ET Q q 0 0 0 rg BT 200.00 664.25 Td (W) Tj ET Q q 0 0 0 rg BT 208.63 664.25 Td (atson has more than ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 290.83 664.25 Td (41,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.33 664.25 Td ( employees and services clients in more than ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.39 664.25 Td (140) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.39 664.25 Td ( countries ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 652.25 Td (and territories. ) Tj ET Q q 0 0 0 rg BT 110.63 652.25 Td (W) Tj ET Q q 0 0 0 rg BT 119.27 652.25 Td (e design and deliver solutions that manage risk, optimize benefits, cultivate talent, and expand the power of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 640.25 Td (capital to protect and strengthen institutions and individuals. Our unique perspective allows us to see the critical intersections ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 628.25 Td (between talent, assets and ideas - the dynamic formula that drives business performance.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.33 628.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 607.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 607.25 Td (e of) Tj ET Q q 0 0 0 rg BT 73.73 607.25 Td (fer clients a broad range of services to help them to identify and control their risks, and to enhance business performance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 595.25 Td (by improving their ability to attract, retain and engage a talented workforce. Our risk control services range from strategic risk ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 583.25 Td (consulting \(including providing actuarial analysis\), to a variety of due diligence services, to the provision of practical on-site ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 571.25 Td (risk control services \(such as health and safety or property loss control consulting\), as well as analytical and advisory services ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 559.25 Td (\(such as hazard modeling and reinsurance optimization studies\). ) Tj ET Q q 0 0 0 rg BT 308.91 559.25 Td (W) Tj ET Q q 0 0 0 rg BT 317.54 559.25 Td (e assist clients in planning how to manage incidents or crises ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 547.25 Td (when they occur) Tj ET Q q 0 0 0 rg BT 115.53 547.25 Td (. ) Tj ET Q q 0 0 0 rg BT 120.35 547.25 Td (These services include contingency planning, security audits and product tampering plans. ) Tj ET Q q 0 0 0 rg BT 484.23 547.25 Td (W) Tj ET Q q 0 0 0 rg BT 492.87 547.25 Td (e help our clients ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 535.25 Td (enhance their business performance by delivering consulting services, technology and solutions that help or) Tj ET Q q 0 0 0 rg BT 480.26 535.25 Td (ganizations ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 523.25 Td (anticipate, identify and capitalize on emer) Tj ET Q q 0 0 0 rg BT 217.52 523.25 Td (ging opportunities in human capital management as well as investment advice to help ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 511.25 Td (our clients develop disciplined and ef) Tj ET Q q 0 0 0 rg BT 199.50 511.25 Td (ficient strategies to meet their investment goals.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.83 511.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.25 Td (As an insurance broker) Tj ET Q q 0 0 0 rg BT 142.07 490.25 Td (, we act as an intermediary between our clients and insurance carriers by advising our clients on their ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.25 Td (risk management requirements, helping clients determine the best means of managing risk and negotiating and placing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.25 Td (insurance with insurance carriers through our global distribution network. ) Tj ET Q q 0 0 0 rg BT 347.52 466.25 Td (W) Tj ET Q q 0 0 0 rg BT 356.16 466.25 Td (e operate the lar) Tj ET Q q 0 0 0 rg BT 420.10 466.25 Td (gest private Medicare exchange in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.25 Td (the United States \(U.S.\). ) Tj ET Q q 0 0 0 rg BT 156.74 454.25 Td (Through this exchange and those for active employees, we help our clients move to a more ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.25 Td (sustainable economic model by capping and controlling the costs associated with healthcare benefits.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.60 442.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 421.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 421.25 Td (e are not an insurance company) Tj ET Q q 0 0 0 rg BT 184.32 421.25 Td (, and therefore we do not underwrite insurable risks for our own account. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.95 421.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 402.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 402.25 Td (e believe our broad perspective allows us to see the critical intersections between talent, assets and ideas - the dynamic ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 390.25 Td (formula that drives business performance.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 218.00 390.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 371.25 Td (The Mer) Tj ET Q q 0 0 0 rg BT 84.53 371.25 Td (ger with ) Tj ET Q q 0 0 0 rg BT 119.89 371.25 Td (T) Tj ET Q q 0 0 0 rg BT 125.30 371.25 Td (owers ) Tj ET Q q 0 0 0 rg BT 151.50 371.25 Td (W) Tj ET Q q 0 0 0 rg BT 160.14 371.25 Td (atson that closed on January 4, 2016 af) Tj ET Q q 0 0 0 rg BT 315.48 371.25 Td (fects the comparability between 2016 and other periods ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 359.25 Td (presented. See ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 110.25 359.25 Td (Note 3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.19 359.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 152.19 359.25 Td (Mer) Tj ET Q q 0 0 0 rg BT 168.67 359.25 Td (ger and ) Tj ET Q q 0 0 0 rg BT 200.33 359.25 Td (Acquisitions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 250.88 359.25 Td ( for additional information.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.75 359.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 338.25 Td (Note 2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 77.49 338.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 92.49 338.25 Td (Basis of Pr) Tj ET Q q 0 0 0 rg BT 138.42 338.25 Td (esentation and Significant ) Tj ET Q q 0 0 0 rg BT 250.94 338.25 Td (Accounting Policies) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 334.54 338.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 317.25 Td (Significant ) Tj ET Q q 0 0 0 rg BT 98.07 317.25 Td (Accounting Policies ) Tj ET Q BT /F3 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 294.9169921875 m 166.0205078125 294.9169921875 l s q 0 0 0 rg BT 50.00 296.25 Td (Conforming r) Tj ET Q q 0 0 0 rg BT 104.36 296.25 Td (eclassifications) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 166.02 296.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 168.52 296.25 Td ( Certain reclassifications have been made to prior period amounts to conform to the current ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 284.25 Td (year presentation. ) Tj ET Q q 0 0 0 rg BT 123.03 284.25 Td (A) Tj ET Q q 0 0 0 rg BT 129.70 284.25 Td ( material reclassification within the 2015 Consolidated Statement of Operations was made to reclassify ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.03 284.25 Td ($84 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 272.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.89 272.25 Td ( of ) Tj ET Q q 0 0 0 rg BT 92.04 272.25 Td (T) Tj ET Q q 0 0 0 rg BT 97.80 272.25 Td (ransaction and integration expenses from Salary and benefits and Other operating expenses of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.73 272.25 Td ($3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.12 272.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.56 272.25 Td ($81 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 260.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.89 260.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 131.55 260.25 Td (. ) Tj ET Q q 0 0 0 rg BT 136.37 260.25 Td (This reclassification was made to present information on a comparable basis.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.33 260.25 Td ( ) Tj ET Q BT /F3 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 237.9169921875 m 160.556640625 237.9169921875 l s q 0 0 0 rg BT 50.00 239.25 Td (Principles of Consolidation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 160.56 239.25 Td ( ) Tj ET Q q 0 0 0 rg BT 175.38 239.25 Td (The accompanying consolidated financial statements include the accounts of ) Tj ET Q q 0 0 0 rg BT 484.25 239.25 Td (W) Tj ET Q q 0 0 0 rg BT 493.29 239.25 Td (illis ) Tj ET Q q 0 0 0 rg BT 510.62 239.25 Td (T) Tj ET Q q 0 0 0 rg BT 516.03 239.25 Td (owers ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 227.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 227.25 Td (atson and those of our majority-owned and controlled subsidiaries. Intercompany accounts and transactions have been ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 215.25 Td (eliminated.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 194.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 194.25 Td (e determine whether we have a controlling financial interest in an entity by first evaluating whether the entity is a voting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 182.25 Td (interest entity or a variable interest entity \(VIE\). ) Tj ET Q q 0 0 0 rg BT 251.68 182.25 Td (V) Tj ET Q q 0 0 0 rg BT 257.80 182.25 Td (ariable interest entities are entities that lack one or more of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 170.25 Td (characteristics of a voting interest entity and therefore require a dif) Tj ET Q q 0 0 0 rg BT 316.92 170.25 Td (ferent approach in determining which party involved with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 158.25 Td (the ) Tj ET Q q 0 0 0 rg BT 64.54 158.25 Td (VIE should consolidate the entity) Tj ET Q q 0 0 0 rg BT 197.75 158.25 Td (. ) Tj ET Q q 0 0 0 rg BT 202.57 158.25 Td (W) Tj ET Q q 0 0 0 rg BT 211.61 158.25 Td (ith a ) Tj ET Q q 0 0 0 rg BT 231.42 158.25 Td (VIE, either the entity does not have suf) Tj ET Q q 0 0 0 rg BT 387.86 158.25 Td (ficient equity at risk to finance its activities ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 146.25 Td (without additional subordinated financial support from other parties, or the equity holders, as a group, do not have the power to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 134.25 Td (direct the activities that most significantly impact its financial performance, the obligation to absorb expected losses of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 122.25 Td (entity) Tj ET Q q 0 0 0 rg BT 72.12 122.25 Td (, or the right to receive the expected residual returns of the entity) Tj ET Q q 0 0 0 rg BT 330.54 122.25 Td (. ) Tj ET Q q 0 0 0 rg BT 335.36 122.25 Td (The entity that has a controlling financial interest in a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 110.25 Td (VIE is referred to as the primary beneficiary and is required to consolidate the ) Tj ET Q q 0 0 0 rg BT 364.70 110.25 Td (VIE.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.86 110.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 89.25 Td (V) Tj ET Q q 0 0 0 rg BT 55.93 89.25 Td (oting interest entities are entities that have suf) Tj ET Q q 0 0 0 rg BT 239.31 89.25 Td (ficient equity and provide equity investors voting rights that give them the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 77.25 Td (power to make significant decisions related to the entity) Tj ET Q q 0 0 0 rg BT 276.60 77.25 Td (s operations. ) Tj ET Q q 0 0 0 rg BT 329.47 77.25 Td (The usual condition for a controlling financial interest in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 65.25 Td (a voting interest entity is ownership of a majority voting interest. ) Tj ET Q q 0 0 0 rg BT 311.62 65.25 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 360.96 65.25 Td (, we consolidate our voting interest entity ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 53.25 Td (investments in which we hold, directly or indirectly) Tj ET Q q 0 0 0 rg BT 255.97 53.25 Td (, more than 50% of the voting rights.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.45 53.25 Td ( ) Tj ET Q endstream endobj 163 0 obj <> endobj 164 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (81) Tj ET Q BT /F3 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 740.7669921875 m 117.216796875 740.7669921875 l s q 0 0 0 rg BT 50.00 742.10 Td (Use of Estimates) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.22 742.10 Td ( ) Tj ET Q q 0 0 0 rg BT 132.04 742.10 Td (These consolidated financial statements conform to accounting principles generally accepted in the United ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (States of ) Tj ET Q q 0 0 0 rg BT 86.67 730.10 Td (America \(U.S. GAAP\), which require management to make estimates and assumptions that af) Tj ET Q q 0 0 0 rg BT 468.88 730.10 Td (fect the reported ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (amounts of assets and liabilities, disclosures of contingent assets and liabilities at the date of the financial statements and the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (reported amounts of revenues and expenses during the reporting periods. Our estimates, judgments and assumptions are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (continually evaluated based on available information and experience. Because of the use of estimates inherent in the financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (reporting process, actual results could dif) Tj ET Q q 0 0 0 rg BT 214.77 682.10 Td (fer from those estimates. Estimates are used when accounting for revenue recognition, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (the selection of useful lives of fixed and intangible assets, impairment testing, valuation of billed and unbilled receivables from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (clients, discretionary compensation, income taxes, pension assumptions, incurred but not reported claims, legal reserves and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (goodwill and intangible assets. ) Tj ET Q BT /F1 10.00 Tf ET BT /F3 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 623.7669921875 m 111.9384765625 623.7669921875 l s q 0 0 0 rg BT 50.00 625.10 Td (Going Concern) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 111.94 625.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.44 625.10 Td ( Management evaluates at each annual and interim period whether there are conditions or events, considered ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 613.10 Td (in the aggregate, that raise substantial doubt about our ability to continue as a going concern within one year after the date that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 601.10 Td (the consolidated financial statements are issued. Management) Tj ET Q q 0 0 0 rg BT 299.64 601.10 Td (s evaluation is based on relevant conditions and events that are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 589.10 Td (known and reasonably knowable at the date that the consolidated financial statements are issued. Management has concluded ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 577.10 Td (that there are no conditions or events, considered in the aggregate, that raise substantial doubt about our ability to continue as a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 565.10 Td (going concern within one year after the date of these financial statements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.88 565.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 542.7669921875 m 193.876953125 542.7669921875 l s q 0 0 0 rg BT 50.00 544.10 Td (Fair V) Tj ET Q q 0 0 0 rg BT 75.28 544.10 Td (alue of Financial Instruments) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 193.88 544.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.38 544.10 Td ( ) Tj ET Q q 0 0 0 rg BT 208.70 544.10 Td (The carrying values of our cash and cash equivalents, accounts receivable, accrued ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 532.10 Td (expenses, revolving lines of credit and term loans approximate their fair values because of the short maturity and liquidity of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 520.10 Td (those instruments. ) Tj ET Q q 0 0 0 rg BT 125.09 520.10 Td (W) Tj ET Q q 0 0 0 rg BT 133.73 520.10 Td (e consider the dif) Tj ET Q q 0 0 0 rg BT 202.69 520.10 Td (ference between carrying value and fair value to be immaterial for our senior notes. ) Tj ET Q q 0 0 0 rg BT 538.75 520.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 508.10 Td (fair value of our senior notes are considered Level 2 financial instruments as they are corroborated by observable market data. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 556.74 508.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 496.10 Td (See Note 1) Tj ET Q q 0 0 0 rg BT 93.51 496.10 Td (1 Fair ) Tj ET Q q 0 0 0 rg BT 131.93 496.10 Td (V) Tj ET Q q 0 0 0 rg BT 138.05 496.10 Td (alue Measurements for additional information about our measurements of fair value. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.49 496.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 473.7669921875 m 152.021484375 473.7669921875 l s q 0 0 0 rg BT 50.00 475.10 Td (Investments in ) Tj ET Q q 0 0 0 rg BT 109.80 475.10 Td (Associates) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 152.02 475.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 165.91 475.10 Td (Investments are accounted for using the equity method of accounting, included within other non-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 463.10 Td (current assets in the consolidated balance sheets, if the Company has the ability to exercise significant influence, but not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 451.10 Td (control, over the investee. Significant influence is generally deemed to exist if the Company has an equity ownership in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 439.10 Td (voting stock of the investee between 20 and 50percent, although other factors, such as representation on the Board of Directors ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 427.10 Td (and the impact of commercial arrangements, are considered in determining whether the equity method of accounting is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 415.10 Td (appropriate. Under the equity method of accounting, the investment is carried at the cost of acquisition, plus the Company) Tj ET Q q 0 0 0 rg BT 541.26 415.10 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 403.10 Td (equity in undistributed net income since acquisition, less any dividends received since acquisition. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.74 403.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.10 Td (The Company periodically reviews its investments in associates for which fair value is less than cost to determine if the decline ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.10 Td (in value is other than temporary) Tj ET Q q 0 0 0 rg BT 176.81 370.10 Td (. If the decline in value is judged to be other than temporary) Tj ET Q q 0 0 0 rg BT 415.81 370.10 Td (, the cost basis of the investment is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.10 Td (written down to fair value. ) Tj ET Q q 0 0 0 rg BT 158.68 358.10 Td (The amount of any write-down is included in the consolidated statements of operations.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.42 358.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 335.7669921875 m 136.298828125 335.7669921875 l s q 0 0 0 rg BT 50.00 337.10 Td (Common Shar) Tj ET Q q 0 0 0 rg BT 107.13 337.10 Td (es Split) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 136.30 337.10 Td ( On January 4, 2016, the Company ef) Tj ET Q q 0 0 0 rg BT 298.31 337.10 Td (fected a 1 to 2.6490 reverse share split to shareholders of record ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 325.10 Td (as of January 4, 2016. ) Tj ET Q q 0 0 0 rg BT 139.71 325.10 Td (All share and per share information has been retroactively adjusted to reflect the reverse share split and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 313.10 Td (show the new number of shares.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 178.86 313.10 Td ( See ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 198.30 313.10 Td (Note 3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.23 313.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.23 313.10 Td (Mer) Tj ET Q q 0 0 0 rg BT 256.71 313.10 Td (ger and ) Tj ET Q q 0 0 0 rg BT 288.37 313.10 Td (Acquisitions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.93 313.10 Td ( for additional information about our Mer) Tj ET Q q 0 0 0 rg BT 504.81 313.10 Td (ger and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 301.10 Td (reverse share split.) Tj ET Q BT /F3 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 278.7669921875 m 160.8349609375 278.7669921875 l s q 0 0 0 rg BT 50.00 280.10 Td (Cash and Cash Equivalents) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 160.83 280.10 Td ( Cash and cash equivalents primarily consist of time deposits with original maturities of 90 days ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 268.10 Td (or less. ) Tj ET Q q 0 0 0 rg BT 80.65 268.10 Td (W) Tj ET Q q 0 0 0 rg BT 89.69 268.10 Td (illis Limited, our U.K. brokerage subsidiary regulated by the Financial Conduct ) Tj ET Q q 0 0 0 rg BT 410.18 268.10 Td (Authority) Tj ET Q q 0 0 0 rg BT 448.41 268.10 Td (, is currently required to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 256.10 Td (maintain ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.49 256.10 Td ($140 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 138.88 256.10 Td ( in unencumbered and available funds, of which at least ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.08 256.10 Td ($79 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.47 256.10 Td ( must be in cash, for regulatory ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 244.10 Td (purposes. ) Tj ET Q q 0 0 0 rg BT 90.37 244.10 Td (T) Tj ET Q q 0 0 0 rg BT 95.78 244.10 Td (erm deposits and certificates of deposits with original maturities greater than 90 days are considered to be short-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 232.10 Td (term investments. ) Tj ET Q q 0 0 0 rg BT 123.42 232.10 Td (There is no restricted cash included in our cash and cash equivalents balance, as these amounts are included ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 220.10 Td (in fiduciary assets.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 124.70 220.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 197.76699218750002 m 177.314453125 197.76699218750002 l s q 0 0 0 rg BT 50.00 199.10 Td (Fiduciary ) Tj ET Q q 0 0 0 rg BT 91.75 199.10 Td (Assets and Liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 177.31 199.10 Td ( Fiduciary funds represent unremitted premiums received from insureds and unremitted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 187.10 Td (claims or refunds received from insurers. Fiduciary funds are generally required to be kept in certain regulated bank accounts ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 175.10 Td (subject to guidelines which emphasize capital preservation and liquidity) Tj ET Q q 0 0 0 rg BT 337.60 175.10 Td (. Such funds are not available to service the Company) Tj ET Q q 0 0 0 rg BT 555.87 175.10 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 163.10 Td (debt or for other corporate purposes. Notwithstanding the legal relationships with insureds and insurers, the Company is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 151.10 Td (entitled to retain investment income earned on fiduciary funds in accordance with industry custom and practice and, in some ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 139.10 Td (cases, as supported by agreements with insureds. ) Tj ET Q q 0 0 0 rg BT 247.83 139.10 Td (The period for which the Company holds such funds is dependent upon the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 127.10 Td (date the insured remits the payment of the premium to the Company) Tj ET Q q 0 0 0 rg BT 322.34 127.10 Td (, or the date the Company receives refunds from the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 115.10 Td (insurers, and the date the Company is required to forward such payment to the insurer) Tj ET Q q 0 0 0 rg BT 393.12 115.10 Td (, or insured, respectively) Tj ET Q q 0 0 0 rg BT 491.04 115.10 Td (. In certain ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 103.10 Td (instances, the Company advances premiums, refunds or claims to insurance underwriters or insureds prior to collection. Such ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 91.10 Td (advances are made from fiduciary funds and are reflected in the consolidated balance sheets as fiduciary assets. Fiduciary ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 79.10 Td (liabilities represent the obligations to remit fiduciary funds and fiduciary receivables to insurers or insureds. Certain of our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 67.10 Td (health and welfare benefits administration outsourcing agreements require us to hold funds on behalf of clients to pay ) Tj ET Q endstream endobj 165 0 obj <> endobj 166 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (82) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (obligations on their behalf. ) Tj ET Q q 0 0 0 rg BT 160.07 742.10 Td (These amounts are included in fiduciary assets and fiduciary liabilities on the consolidated balance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (sheets.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.94 730.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 707.7669921875 m 133.0126953125 707.7669921875 l s q 0 0 0 rg BT 50.00 709.10 Td (Accounts Receivable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 133.01 709.10 Td ( ) Tj ET Q q 0 0 0 rg BT 147.46 709.10 Td (Accounts receivable includes both billed and unbilled receivables and is stated at estimated net ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 697.10 Td (realizable values. Provision for billed receivables is recorded, when necessary) Tj ET Q q 0 0 0 rg BT 361.17 697.10 Td (, in an amount considered by management to be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 685.10 Td (suf) Tj ET Q q 0 0 0 rg BT 62.04 685.10 Td (ficient to meet probable future losses related to uncollectible accounts. ) Tj ET Q q 0 0 0 rg BT 346.11 685.10 Td (Accrued and unbilled receivables are stated at net ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 673.10 Td (realizable value which includes an allowance for accrued and unbillable amounts.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.81 673.10 Td ( See ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.25 673.10 Td (Note 14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.18 673.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.18 673.10 Td (Supplementary Information ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 661.10 Td (for Certain Balance Sheet ) Tj ET Q q 0 0 0 rg BT 154.96 661.10 Td (Accounts ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 195.23 661.10 Td (for additional information about our accounts receivable. ) Tj ET Q BT /F3 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 638.7669921875 m 104.3408203125 638.7669921875 l s q 0 0 0 rg BT 50.00 640.10 Td (Income T) Tj ET Q q 0 0 0 rg BT 86.57 640.10 Td (axes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.34 640.10 Td ( ) Tj ET Q q 0 0 0 rg BT 119.16 640.10 Td (The Company recognizes deferred tax assets and liabilities for the estimated future tax consequences of events ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 628.10 Td (attributable to dif) Tj ET Q q 0 0 0 rg BT 119.24 628.10 Td (ferences between the financial statement carrying amounts of existing assets and liabilities and their respective ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 616.10 Td (tax bases and operating and capital loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 604.10 Td (enacted rates in ef) Tj ET Q q 0 0 0 rg BT 122.28 604.10 Td (fect for the year in which the dif) Tj ET Q q 0 0 0 rg BT 251.21 604.10 Td (ferences are expected to be recovered or settled. ) Tj ET Q q 0 0 0 rg BT 445.63 604.10 Td (The ef) Tj ET Q q 0 0 0 rg BT 471.27 604.10 Td (fect on deferred tax ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 592.10 Td (assets and liabilities of changes in tax rates is recognized in the consolidated statement of operations in the period in which the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 580.10 Td (change is enacted. Deferred tax assets are reduced through the establishment of a valuation allowance at such time as, based on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 568.10 Td (available evidence, it is more likely than not that the deferred tax assets will not be realized. ) Tj ET Q q 0 0 0 rg BT 419.96 568.10 Td (The Company adjusts valuation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 556.10 Td (allowances to measure deferred tax assets at the amounts considered realizable in future periods if the Company) Tj ET Q q 0 0 0 rg BT 500.95 556.10 Td (s facts and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 544.10 Td (assumptions change. In making such determination, the Company considers all available positive and negative evidence, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 532.10 Td (including future reversals of existing taxable temporary dif) Tj ET Q q 0 0 0 rg BT 285.58 532.10 Td (ferences, projected future taxable income, tax planning strategies ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 520.10 Td (and the results of recent financial operations. ) Tj ET Q q 0 0 0 rg BT 231.97 520.10 Td (W) Tj ET Q q 0 0 0 rg BT 240.61 520.10 Td (e place more reliance on evidence that is objectively verifiable.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.27 520.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 499.10 Td (Positions taken in the Company) Tj ET Q q 0 0 0 rg BT 180.00 499.10 Td (s tax returns may be subject to challenge by the taxing authorities upon examination. ) Tj ET Q q 0 0 0 rg BT 521.11 499.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 487.10 Td (Company recognizes the benefit of uncertain tax positions in the financial statements when it is more likely than not that the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 475.10 Td (position will be sustained on the basis of the technical merits of the position assuming the tax authorities have full knowledge ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 463.10 Td (of the position and all relevant facts. Recognition also occurs upon either the lapse of the relevant statute of limitations, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 451.10 Td (when positions are ef) Tj ET Q q 0 0 0 rg BT 135.07 451.10 Td (fectively settled. ) Tj ET Q q 0 0 0 rg BT 203.48 451.10 Td (The benefit recognized is the lar) Tj ET Q q 0 0 0 rg BT 332.40 451.10 Td (gest amount of tax benefit that is greater than 50 percent ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 439.10 Td (likely to be realized on settlement with the tax authority) Tj ET Q q 0 0 0 rg BT 272.90 439.10 Td (. ) Tj ET Q q 0 0 0 rg BT 277.71 439.10 Td (The Company adjusts its recognition of uncertain tax benefits in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 427.10 Td (period in which new information is available impacting either the recognition or measurement of its uncertain tax positions. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 415.10 Td (Such adjustments are reflected as increases or decreases to income taxes in the period in which they are determined. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.48 415.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.10 Td (The Company recognizes interest and penalties relating to unrecognized tax benefits within income taxes.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.19 394.10 Td ( See ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.63 394.10 Td (Note 6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.57 394.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.10 Td (Income ) Tj ET Q q 0 0 0 rg BT 82.30 382.10 Td (T) Tj ET Q q 0 0 0 rg BT 87.71 382.10 Td (axes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 107.98 382.10 Td (for additional information about our income taxes.) Tj ET Q BT /F3 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 359.7669921875 m 121.7431640625 359.7669921875 l s q 0 0 0 rg BT 50.00 361.10 Td (For) Tj ET Q q 0 0 0 rg BT 64.63 361.10 Td (eign Curr) Tj ET Q q 0 0 0 rg BT 103.43 361.10 Td (ency) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 121.74 361.10 Td ( ) Tj ET Q q 0 0 0 rg BT 136.56 361.10 Td (T) Tj ET Q q 0 0 0 rg BT 142.32 361.10 Td (ransactions in currencies other than the functional currency of the entity are recorded at the rates of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 349.10 Td (exchange prevailing at the date of the transaction. Monetary assets and liabilities in currencies other than the functional ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 337.10 Td (currency are translated at the rates of exchange prevailing at the balance sheet date and the related transaction gains and losses ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 325.10 Td (are reported in the consolidated statements of operations. Certain intercompany loans are determined to be of a long-term ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 313.10 Td (investment nature. ) Tj ET Q q 0 0 0 rg BT 126.19 313.10 Td (The Company records transaction gains and losses from remeasuring such loans in the consolidated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 301.10 Td (statements of comprehensive income/\(loss\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.51 301.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 282.10 Td (Upon consolidation, the results of operations of subsidiaries and associates whose functional currency is other than the U.S. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 270.10 Td (dollar are translated into U.S. dollars at the average exchange rates and assets and liabilities are translated at year) Tj ET Q q 0 0 0 rg BT 501.84 270.10 Td (-end exchange ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 258.10 Td (rates. ) Tj ET Q q 0 0 0 rg BT 73.70 258.10 Td (T) Tj ET Q q 0 0 0 rg BT 79.45 258.10 Td (ranslation adjustments are presented as a separate component of other comprehensive income in the financial statements ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 246.10 Td (and are included in net income only upon sale or liquidation of the underlying foreign subsidiary or associated company) Tj ET Q q 0 0 0 rg BT 529.78 246.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.28 246.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 223.76699218750002 m 96.09375 223.76699218750002 l s q 0 0 0 rg BT 50.00 225.10 Td (Derivatives) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 96.09 225.10 Td ( ) Tj ET Q q 0 0 0 rg BT 110.91 225.10 Td (The Company uses derivative financial instruments for other than trading purposes to alter the risk profile of an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 213.10 Td (existing underlying exposure. Interest rate swaps have been used to manage interest risk exposures. Forward foreign currency ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 201.10 Td (exchange contracts are used to manage currency exposures arising from future income and expenses. ) Tj ET Q q 0 0 0 rg BT 456.04 201.10 Td (The fair values of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 189.10 Td (derivative contracts are recorded in other assets and other liabilities. ) Tj ET Q q 0 0 0 rg BT 324.43 189.10 Td (The ef) Tj ET Q q 0 0 0 rg BT 350.07 189.10 Td (fective portions of changes in the fair value of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 177.10 Td (derivatives that qualify for hedge accounting as cash flow hedges are recorded in other comprehensive income. ) Tj ET Q q 0 0 0 rg BT 496.22 177.10 Td (Amounts are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 165.10 Td (reclassified from other comprehensive income into earnings when the hedged exposure af) Tj ET Q q 0 0 0 rg BT 408.86 165.10 Td (fects earnings. If the derivative is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 153.10 Td (designated as, and qualifies as, an ef) Tj ET Q q 0 0 0 rg BT 195.32 153.10 Td (fective fair value hedge, the changes in the fair value of the derivative and of the hedged ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 141.10 Td (item attributable to the hedged risk are both recognized in earnings. ) Tj ET Q q 0 0 0 rg BT 322.50 141.10 Td (The amount of hedge inef) Tj ET Q q 0 0 0 rg BT 425.62 141.10 Td (fectiveness recognized in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 129.10 Td (earnings is based on the extent to which an of) Tj ET Q q 0 0 0 rg BT 232.27 129.10 Td (fset between the fair value of the derivative and hedged item is not achieved. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 117.10 Td (Changes in fair value of derivatives that do not qualify for hedge accounting, together with any hedge inef) Tj ET Q q 0 0 0 rg BT 474.68 117.10 Td (fectiveness on those ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 105.10 Td (that do qualify) Tj ET Q q 0 0 0 rg BT 107.67 105.10 Td (, are recorded in other operating expenses or interest expense as appropriate.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.37 105.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 86.10 Td (The Company evaluates whether its contracts include clauses or conditions which would be required to be separately accounted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 74.10 Td (for at fair value as embedded derivatives.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 215.21 74.10 Td ( See ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 234.64 74.10 Td (Note 9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.58 74.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 276.58 74.10 Td (Derivative Financial Instruments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.21 74.10 Td ( for additional information about our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 62.10 Td (derivatives.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 96.37 62.10 Td ( ) Tj ET Q endstream endobj 167 0 obj <> endobj 168 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (83) Tj ET Q BT /F3 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 740.7669921875 m 286.8505859375 740.7669921875 l s q 0 0 0 rg BT 50.00 742.10 Td (Commitments, Contingencies and Pr) Tj ET Q q 0 0 0 rg BT 196.84 742.10 Td (ovisions for Liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.85 742.10 Td ( ) Tj ET Q q 0 0 0 rg BT 301.67 742.10 Td (The Company establishes provisions against various actual and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (potential claims, lawsuits and other proceedings relating principally to alleged errors and omissions in the ordinary course of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (business. Such provisions cover claims that have been reported but not paid and also unasserted claims and related legal fees. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (These provisions are established based on actuarial estimates together with individual case reviews and are believed to be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (adequate in the light of current information and legal advice. In certain cases, where a range of loss exists, we accrue the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (minimum amount in the range if no amount within the range is a better estimate than any other amount. ) Tj ET Q q 0 0 0 rg BT 466.38 682.10 Td (T) Tj ET Q q 0 0 0 rg BT 471.79 682.10 Td (o the extent such ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (losses can be recovered under the Company) Tj ET Q q 0 0 0 rg BT 228.27 670.10 Td (s insurance programs, estimated recoveries are recorded when losses for insured ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (events are recognized and the recoveries are likely to be realized. Significant management judgment is required to estimate the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (amounts of such unasserted claims and the related insurance recoveries. ) Tj ET Q q 0 0 0 rg BT 339.43 646.10 Td (The Company analyzes its litigation exposure based on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (available information, including consultation with outside counsel handling the defense of these matters, to assess its potential ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (liability) Tj ET Q q 0 0 0 rg BT 80.46 622.10 Td (. ) Tj ET Q q 0 0 0 rg BT 85.28 622.10 Td (These contingent liabilities are not discounted.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 271.89 622.10 Td ( See ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.33 622.10 Td (Note 13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.27 622.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.27 622.10 Td (Commitments and Contingencies) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.59 622.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.03 622.10 Td (Note 14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.97 622.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (Supplementary Information for Certain Balance Sheet ) Tj ET Q q 0 0 0 rg BT 268.27 610.10 Td (Accounts ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.54 610.10 Td (for additional information about our commitments, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td (contingencies and provisions for liabilities.) Tj ET Q BT /F3 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 575.7669921875 m 161.005859375 575.7669921875 l s q 0 0 0 rg BT 50.00 577.10 Td (Shar) Tj ET Q q 0 0 0 rg BT 68.52 577.10 Td (e-Based Compensation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 161.01 577.10 Td ( ) Tj ET Q q 0 0 0 rg BT 175.83 577.10 Td (The Company has equity-based compensation plans that provide for grants of restricted stock ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 565.10 Td (units and stock options to employees and non-employee directors of the Company who perform services for the Company) Tj ET Q q 0 0 0 rg BT 537.29 565.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.79 565.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 544.10 Td (The Company expenses equity-based compensation, which is included in Salaries and benefits in the consolidated statements of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 532.10 Td (operations, primarily on a straight-line basis over the requisite service period based upon the fair value of the award on the date ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 520.10 Td (of grant, the estimated achievement of any performance tar) Tj ET Q q 0 0 0 rg BT 286.10 520.10 Td (gets and anticipated staf) Tj ET Q q 0 0 0 rg BT 382.27 520.10 Td (f retention. ) Tj ET Q q 0 0 0 rg BT 428.46 520.10 Td (The awards under equity-based ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 508.10 Td (compensation are classified as equity and included as a component of equity on the Company) Tj ET Q q 0 0 0 rg BT 427.12 508.10 Td (s consolidated balance sheets, as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 496.10 Td (the ultimate payment of such awards will not be achieved through use of the Company) Tj ET Q q 0 0 0 rg BT 399.36 496.10 Td (s cash or other assets.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.72 496.10 Td ( See ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.16 496.10 Td (Note 17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.10 496.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 484.10 Td (Share-based Compensation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 159.14 484.10 Td ( for additional information about our share-based compensation.) Tj ET Q BT /F3 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 461.7669921875 m 100.0830078125 461.7669921875 l s q 0 0 0 rg BT 50.00 463.10 Td (Fixed ) Tj ET Q q 0 0 0 rg BT 75.08 463.10 Td (Assets) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 100.08 463.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 102.58 463.10 Td ( Fixed assets are stated at cost less accumulated depreciation. Expenditures for improvements are capitalized; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 451.10 Td (repairs and maintenance are char) Tj ET Q q 0 0 0 rg BT 181.41 451.10 Td (ged to expenses as incurred. Depreciation is computed primarily using the straight-line method ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 439.10 Td (based on the estimated useful lives of assets.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 228.29 439.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 420.10 Td (Depreciation on internally developed software is amortized over the estimated useful life of the asset ranging from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.67 420.10 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.67 420.10 Td ( to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.45 420.10 Td (10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.45 420.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 408.10 Td (years. Buildings include assets held under capital leases and are depreciated over the lesser of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.08 408.10 Td (50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.08 408.10 Td ( years, the asset lives or the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 396.10 Td (lease terms. Depreciation on leasehold improvements is calculated over the lesser of the useful lives of the assets or the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 384.10 Td (remaining lease terms. Depreciation on furniture and equipment is calculated based on a range of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.96 384.10 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.96 384.10 Td ( to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.74 384.10 Td (10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.74 384.10 Td (years. Land is not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 372.10 Td (depreciated.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 98.58 372.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 353.10 Td (Long-lived assets are tested for recoverability whenever events or changes in circumstance indicate that their carrying amounts ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 341.10 Td (may not be recoverable. ) Tj ET Q q 0 0 0 rg BT 148.01 341.10 Td (An impairment loss is recognized if the carrying amount of a long-lived asset is not recoverable and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 329.10 Td (exceeds its fair value. Recoverability is determined based on the undiscounted cash flows expected to result from the use and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 317.10 Td (eventual disposition of the asset or asset group. Long-lived assets and certain identifiable intangible assets to be disposed of are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 305.10 Td (reported at the lower of carrying amount or fair value less cost to sell.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.79 305.10 Td ( See ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.23 305.10 Td (Note 7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 375.17 305.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.17 305.10 Td (Fixed ) Tj ET Q q 0 0 0 rg BT 414.90 305.10 Td (Assets ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.51 305.10 Td (for additional information ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 293.10 Td (about our fixed assets.) Tj ET Q BT /F3 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 272.7669921875 m 120.830078125 272.7669921875 l s q 0 0 0 rg BT 50.00 274.10 Td (Operating Leases) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 120.83 274.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 123.33 274.10 Td (Rentals payable on operating leases are char) Tj ET Q q 0 0 0 rg BT 310.29 274.10 Td (ged straight line to Other operating expenses in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.10 Td (consolidated statements of operations over the lease term.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.04 262.10 Td ( See ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.47 262.10 Td (Note 13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.41 262.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 347.41 262.10 Td (Commitments and Contingencies) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.73 262.10 Td ( for additional ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.10 Td (information about our operating leases.) Tj ET Q BT /F3 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 229.76699218750002 m 203.9794921875 229.76699218750002 l s q 0 0 0 rg BT 50.00 231.10 Td (Goodwill and Other Intangible ) Tj ET Q q 0 0 0 rg BT 176.48 231.10 Td (Assets ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 203.98 231.10 Td ( In applying the acquisition method of accounting for business combinations, amounts ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 219.10 Td (assigned to identifiable assets and liabilities acquired were based on estimated fair values as of the date of acquisition, with the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 207.10 Td (remainder recorded as goodwill. Intangible assets are initially valued at fair value using generally accepted valuation methods ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 195.10 Td (appropriate for the type of intangible asset. Intangible assets with definite lives are amortized over their estimated useful lives ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 183.10 Td (and are reviewed for impairment if indicators of impairment arise. Intangible assets with indefinite lives \(currently only ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 171.10 Td (acquired software that is in the in-process research and development stage\) are tested for impairment annually as of October 1, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 159.10 Td (and whenever indicators of impairment exist. ) Tj ET Q q 0 0 0 rg BT 233.37 159.10 Td (The fair values of intangible assets are compared with their carrying values, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 147.10 Td (an impairment loss would be recognized for the amount by which a carrying amount exceeds its fair value. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.58 147.10 Td ( ) Tj ET Q endstream endobj 169 0 obj <> endobj 170 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (84) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (Acquired intangible assets are amortized over the following periods:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 708.60 216.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 266.50 708.60 234.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 708.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 708.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 678.60 216.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 266.50 678.60 234.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 678.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 678.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 648.60 216.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 266.50 648.60 234.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 648.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 648.60 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 266.5 708.6 m 500.5 708.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 708.6 m 562.5 708.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 708.6 m 562.5 708.6 l s BT /F2 9.00 Tf ET q 0 0 0 rg BT 346.60 713.05 Td (Amortization basis) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 508.10 722.05 Td (Expected life) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 519.75 713.05 Td (\(years\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 698.27 Td (Client relationships) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.00 698.27 Td (In line with underlying cash flows) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.10 698.27 Td (5 to 20) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 683.27 Td (Software) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.00 683.27 Td (In line with underlying cash flows or straight line basis) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.60 683.27 Td (4 to 7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 668.27 Td (Product) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.00 668.27 Td (In line with underlying cash flows) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.25 668.27 Td (17.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 653.27 Td (Trademark and trade name) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.00 653.27 Td (Straight line basis) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.60 653.27 Td (14 to 25) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 638.27 Td (Favorable agreements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.00 638.27 Td (Straight line basis) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.50 638.27 Td (7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 623.27 Td (Management contracts) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.00 623.27 Td (Straight line basis) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.00 623.27 Td (18) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td (Goodwill is tested for impairment annually as of October 1, and whenever indicators of impairment exist. Goodwill is tested at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (the reporting unit level, and the Company had ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 236.34 586.10 Td (eight) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.34 586.10 Td ( reporting units as of October 1, 2016. In the first step of the impairment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (test, the fair value of each reporting unit is compared with its carrying value, including goodwill. If the carrying value of a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (reporting unit exceeds its fair value, the amount of an impairment loss, if any) Tj ET Q q 0 0 0 rg BT 357.88 562.10 Td (, is calculated in the second step of the impairment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (test by comparing the implied fair value of reporting unit goodwill with the carrying amount of that goodwill. ) Tj ET Q q 0 0 0 rg BT 490.56 550.10 Td (The Company) Tj ET Q q 0 0 0 rg BT 550.27 550.10 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (goodwill impairment tests for the years ended December 31, 2016 and 2015 have not resulted in any impairment char) Tj ET Q q 0 0 0 rg BT 519.96 538.10 Td (ges. See ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (Note 8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.94 526.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 91.94 526.10 Td (Goodwill and Other Intangible ) Tj ET Q q 0 0 0 rg BT 216.91 526.10 Td (Assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.03 526.10 Td ( for additional information about our goodwill and other intangible assets.) Tj ET Q BT /F3 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 499.7669921875 m 86.1083984375 499.7669921875 l s q 0 0 0 rg BT 50.00 501.10 Td (Pensions) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 86.11 501.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 88.61 501.10 Td ( ) Tj ET Q q 0 0 0 rg BT 100.93 501.10 Td (The Company has multiple defined benefit pension and defined contribution plans. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.11 501.10 Td (The net periodic cost of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 489.10 Td (Company) Tj ET Q q 0 0 0 rg BT 91.67 489.10 Td (s defined benefit plans are measured on an actuarial basis using various methods and actuarial assumptions. ) Tj ET Q q 0 0 0 rg BT 526.91 489.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 477.10 Td (most significant assumptions are the discount rates \(calculated from the 2016 fiscal year and forward using the granular ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 465.10 Td (approach to calculating service and interest cost\) and the expected long-term rates of return on plan assets. Other material ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 453.10 Td (assumptions include rates of participant mortality) Tj ET Q q 0 0 0 rg BT 247.36 453.10 Td (, the expected long-term rates of compensation and pension increases and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 441.10 Td (rates of employee termination. Gains and losses occur when actual experience dif) Tj ET Q q 0 0 0 rg BT 375.81 441.10 Td (fers from actuarial assumptions. If such gains ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 429.10 Td (or losses exceed ten percent of the greater of plan assets or plan liabilities, the Company amortizes those gains or losses over ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 417.10 Td (the average remaining service period or average remaining life expectancy) Tj ET Q q 0 0 0 rg BT 347.81 417.10 Td (, as appropriate, of the plan participan) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.41 417.10 Td (ts. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.08 417.10 Td (In ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 405.10 Td (accordance with U.S. GAAP) Tj ET Q q 0 0 0 rg BT 164.14 405.10 Td (, the Company records on its consolidated balance sheets the funded status of its pension plans ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 393.10 Td (based on the projected benefit obligation.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 215.50 393.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 368.10 Td (Contributions to the Company) Tj ET Q q 0 0 0 rg BT 174.17 368.10 Td (s defined contribution plans are recognized as incurred. Dif) Tj ET Q q 0 0 0 rg BT 411.40 368.10 Td (ferences between contributions ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 356.10 Td (payable in the year and contributions actually paid are shown as either other assets or other liabilities in the consolidated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 344.10 Td (balance sheets.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 109.97 344.10 Td ( See ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 129.41 344.10 Td (Note 12) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 161.35 344.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 176.35 344.10 Td (Retirement Benefits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.60 344.10 Td ( for additional information about our pensions.) Tj ET Q BT /F3 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 321.7669921875 m 134.6826171875 321.7669921875 l s q 0 0 0 rg BT 50.00 323.10 Td (Revenue Recognition) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 134.68 323.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 148.57 323.10 Td (Revenues include insurance commissions, fees in lieu of commission, fees for consulting services ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 311.10 Td (rendered, hosted and delivered software, survey sales, interest and other income.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.10 311.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 290.10 Td (Revenue recognized in excess of billings is recorded as unbilled accounts receivable. Cash collections in excess of revenue ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 278.10 Td (recognized are recorded as deferred revenue until the revenue recognition criteria are met. Client reimbursable expenses, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 266.10 Td (including those relating to travel, other out-of-pocket expenses and any third-party costs, are included in revenue, and an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 254.10 Td (equivalent amount of reimbursable expenses is included in other operating expenses as a cost of revenue.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.42 254.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 233.10 Td (Commissions and fees) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 138.89 233.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 68.00 212.10 Td (Commissions r) Tj ET Q q 0 0 0 rg BT 127.37 212.10 Td (evenue. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 160.12 212.10 Td (Brokerage commissions and fees negotiated in lieu of commissions are recognized at the later of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 200.10 Td (policy inception date or when the policy placement is complete. In situations in which our fees are not fixed and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 188.10 Td (determinable due to the uncertainty of the commission fee per policy) Tj ET Q q 0 0 0 rg BT 342.81 188.10 Td (, we recognize revenue as the fees are determined. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 176.10 Td (Commissions on additional premiums and adjustments are recognized when approved by or agreed between the parties and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 164.10 Td (collectability is reasonably assured. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 212.68 164.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 68.00 143.10 Td (Consulting r) Tj ET Q q 0 0 0 rg BT 117.92 143.10 Td (evenue. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 150.67 143.10 Td (The majority of our consulting revenues consists of fees earned from providing consulting services. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 131.10 Td (W) Tj ET Q q 0 0 0 rg BT 76.64 131.10 Td (e recognize revenues from these consulting engagements when hours are worked, either on a time-and-expense basis or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 119.10 Td (on a fixed-fee basis, depending on the terms and conditions defined at the inception of an engagement with a client. ) Tj ET Q q 0 0 0 rg BT 532.67 119.10 Td (W) Tj ET Q q 0 0 0 rg BT 541.31 119.10 Td (e ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 107.10 Td (have engagement letters with our clients that specify the terms and conditions upon which the engagements are based. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 95.10 Td (These terms and conditions can only be changed upon agreement by both parties. Individual billing rates are principally ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 83.10 Td (based on a multiple of salary and compensation costs.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.22 83.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 62.10 Td (Revenues for fixed-fee arrangements are based upon the proportional performance method to the extent estimates can be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 50.10 Td (made of the remaining work required under the arrangement. If we do not have suf) Tj ET Q q 0 0 0 rg BT 399.08 50.10 Td (ficient information to estimate ) Tj ET Q endstream endobj 171 0 obj <> endobj 172 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (85) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 742.10 Td (proportional performance, we recognize the fees straight-line over the contract period. ) Tj ET Q q 0 0 0 rg BT 415.17 742.10 Td (W) Tj ET Q q 0 0 0 rg BT 423.81 742.10 Td (e typically have ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.61 742.10 Td (four) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.27 742.10 Td ( types of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 730.10 Td (fixed-fee arrangements: annual recurring projects, projects of a short duration, stand-ready obligations and non-recurring ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 718.10 Td (system projects. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 134.93 718.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 68.00 697.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.50 697.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 86.00 697.10 Td (Annual r) Tj ET Q q 0 0 0 rg BT 120.91 697.10 Td (ecurring pr) Tj ET Q q 0 0 0 rg BT 166.37 697.10 Td (ojects) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 189.69 697.10 Td ( and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 209.13 697.10 Td (pr) Tj ET Q q 0 0 0 rg BT 217.65 697.10 Td (ojects of short duration.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.76 697.10 Td ( ) Tj ET Q q 0 0 0 rg BT 316.08 697.10 Td (These projects are typically straightforward and highly ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 685.10 Td (predictable in nature. ) Tj ET Q q 0 0 0 rg BT 172.63 685.10 Td (As a result, the project manager and financial staf) Tj ET Q q 0 0 0 rg BT 370.98 685.10 Td (f are able to identify) Tj ET Q q 0 0 0 rg BT 451.41 685.10 Td (, as the project status is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 673.10 Td (reviewed and bills are prepared monthly) Tj ET Q q 0 0 0 rg BT 246.68 673.10 Td (, the occasions when cost overruns could lead to the recording of a loss ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 661.10 Td (accrual.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.36 661.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 68.00 640.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 86.00 640.10 Td (Stand-r) Tj ET Q q 0 0 0 rg BT 115.63 640.10 Td (eady obligations.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 184.51 640.10 Td ( ) Tj ET Q q 0 0 0 rg BT 186.83 640.10 Td (Where we are entitled to fees \(whether fixed or variable based on assets under management ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 628.10 Td (or a per) Tj ET Q q 0 0 0 rg BT 116.34 628.10 Td (-participant per) Tj ET Q q 0 0 0 rg BT 177.49 628.10 Td (-month basis\) regardless of the hours, we generally recognize this revenue on either a straight-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 616.10 Td (line basis or as the variable fees are calculated. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.91 616.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 68.00 595.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 86.00 595.10 Td (Non-r) Tj ET Q q 0 0 0 rg BT 109.52 595.10 Td (ecurring system pr) Tj ET Q q 0 0 0 rg BT 184.14 595.10 Td (ojects. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 212.46 595.10 Td (These projects are longer in duration and subject to more changes in scope as the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 583.10 Td (project progresses. Certain software or outsourced administration contracts generally provide that if the client ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 571.10 Td (terminates a contract, we are entitled to payment for services performed through termination.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 458.08 571.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 550.10 Td (Revenue recognition for fixed-fee engagements is af) Tj ET Q q 0 0 0 rg BT 277.73 550.10 Td (fected by a number of factors that change the estimated amount of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 538.10 Td (work required to complete the project such as changes in scope, the staf) Tj ET Q q 0 0 0 rg BT 354.67 538.10 Td (fing on the engagement and/or the level of client ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 526.10 Td (participation. ) Tj ET Q q 0 0 0 rg BT 123.36 526.10 Td (The periodic engagement evaluations require us to make judgments and estimates regarding the overall ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 514.10 Td (profitability and stage of project completion that, in turn, af) Tj ET Q q 0 0 0 rg BT 305.81 514.10 Td (fect how we recognize revenue. ) Tj ET Q q 0 0 0 rg BT 435.00 514.10 Td (W) Tj ET Q q 0 0 0 rg BT 443.64 514.10 Td (e recognize a loss on an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 502.10 Td (engagement when estimated revenues to be received for that engagement are less than the total estimated costs associated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 490.10 Td (with the engagement. Losses are recognized in the period in which the loss becomes probable and the amount of the loss is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 478.10 Td (reasonably estimable.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 154.64 478.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 68.00 457.10 Td (Hosted softwar) Tj ET Q q 0 0 0 rg BT 128.47 457.10 Td (e. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.91 457.10 Td (W) Tj ET Q q 0 0 0 rg BT 146.54 457.10 Td (e have developed various software programs and technologies that we provide to clients in connection ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 445.10 Td (with consulting services. In most instances, such software is hosted and maintained by us and ownership of the technology ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 433.10 Td (and rights to the related code remain with us. ) Tj ET Q q 0 0 0 rg BT 250.54 433.10 Td (W) Tj ET Q q 0 0 0 rg BT 259.18 433.10 Td (e defer costs for software developed to be utilized in providing services to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 421.10 Td (a client, but for which the client does not have the contractual right to take possession, during the implementation stage. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 409.10 Td (W) Tj ET Q q 0 0 0 rg BT 76.64 409.10 Td (e recognize these deferred costs from the go live date, signaling the end of the implementation stage, until the end of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 397.10 Td (initial term of the contract with the client. ) Tj ET Q q 0 0 0 rg BT 236.93 397.10 Td (W) Tj ET Q q 0 0 0 rg BT 245.57 397.10 Td (e determined that the system implementation and customized ongoing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 385.10 Td (administrative services are one combined service. Revenue is recognized over the service period, after the go live date, in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 373.10 Td (proportion to the services performed. ) Tj ET Q q 0 0 0 rg BT 218.51 373.10 Td (As a result, we do not recognize revenue during the implementation phase of an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 361.10 Td (engagement.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.81 361.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 68.00 340.10 Td (Deliver) Tj ET Q q 0 0 0 rg BT 97.61 340.10 Td (ed softwar) Tj ET Q q 0 0 0 rg BT 139.19 340.10 Td (e. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 148.63 340.10 Td (W) Tj ET Q q 0 0 0 rg BT 157.27 340.10 Td (e deliver software under arrangements with clients who take possession of our software. ) Tj ET Q q 0 0 0 rg BT 511.98 340.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 328.10 Td (maintenance associated with the initial software fees is a fixed percentage which enables us to determine the stand-alone ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 316.10 Td (value of the delivered software separate from the maintenance. ) Tj ET Q q 0 0 0 rg BT 321.59 316.10 Td (W) Tj ET Q q 0 0 0 rg BT 330.23 316.10 Td (e recognize the initial software fees as software is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 304.10 Td (delivered to the client and we recognize the maintenance ratably over the contract period based on each element) Tj ET Q q 0 0 0 rg BT 518.63 304.10 Td (s relative ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 292.10 Td (fair value. For software arrangements in which initial fees are received in connection withmandatory maintenance for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 280.10 Td (initial software license to remain active, we determined that the initial maintenance period is substantive.) Tj ET Q q 0 0 0 rg BT 490.18 280.10 Td (Therefore, we ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 268.10 Td (recognize the fees for the initial license and maintenance bundle ratably over the initial contract term, which is generally) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.75 268.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 256.10 Td (one year) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 101.59 256.10 Td (. Each subsequent renewal fee is recognized ratably over the contractually stated renewal period.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.37 256.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 68.00 235.10 Td (Surveys. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.10 235.10 Td (W) Tj ET Q q 0 0 0 rg BT 112.74 235.10 Td (e collect, analyze and compile data in the form of surveys for our clients who have the option of participating in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 223.10 Td (the survey) Tj ET Q q 0 0 0 rg BT 108.73 223.10 Td (.) Tj ET Q q 0 0 0 rg BT 113.55 223.10 Td (The surveys are published online via a web tool that provides simplistic functionality) Tj ET Q q 0 0 0 rg BT 453.38 223.10 Td (. ) Tj ET Q q 0 0 0 rg BT 458.20 223.10 Td (W) Tj ET Q q 0 0 0 rg BT 466.84 223.10 Td (e have determined that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 211.10 Td (the web tool is inconsequential to the overall arrangement. ) Tj ET Q q 0 0 0 rg BT 304.41 211.10 Td (W) Tj ET Q q 0 0 0 rg BT 313.05 211.10 Td (e record the survey revenues when the results are delivered ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 199.10 Td (online and made available to our clients who have a contractual right to the data. If the data is updated more frequently ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 187.10 Td (than annually) Tj ET Q q 0 0 0 rg BT 121.50 187.10 Td (, we recognize the survey revenues ratably over the contractually stated period.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.76 187.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 166.10 Td (Inter) Tj ET Q q 0 0 0 rg BT 69.07 166.10 Td (est and other income) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 152.66 166.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 68.00 145.10 Td (Inter) Tj ET Q q 0 0 0 rg BT 87.07 145.10 Td (est income. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 134.55 145.10 Td (Interest income is recognized as earned.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.48 145.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 68.00 124.10 Td (Other Income. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.26 124.10 Td (Other income includes gains on disposal of intangible assets, which primarily arise from settlements ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 112.10 Td (through enforcing non-compete agreements in the event of losing accounts through producer defection or the disposal of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 100.10 Td (books of business. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 144.11 100.10 Td ( ) Tj ET Q endstream endobj 173 0 obj <> endobj 174 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (86) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (Recent ) Tj ET Q q 0 0 0 rg BT 81.38 742.25 Td (Accounting Pr) Tj ET Q q 0 0 0 rg BT 143.13 742.25 Td (onouncements ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 721.25 Td (Not yet adopted) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 113.32 721.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 700.25 Td (In May 2014, the Financial ) Tj ET Q q 0 0 0 rg BT 160.54 700.25 Td (Accounting Standards Board \(F) Tj ET Q q 0 0 0 rg BT 290.05 700.25 Td (ASB\) issued ) Tj ET Q q 0 0 0 rg BT 345.61 700.25 Td (Accounting Standard Update \(ASU\) No. 2014-09 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 688.25 Td (Revenue From Contracts ) Tj ET Q q 0 0 0 rg BT 155.63 688.25 Td (W) Tj ET Q q 0 0 0 rg BT 164.67 688.25 Td (ith Customers. ) Tj ET Q q 0 0 0 rg BT 228.65 688.25 Td (The new standard supersedes most current revenue recognition guidance and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 676.25 Td (eliminates industry-specific guidance. ) Tj ET Q q 0 0 0 rg BT 204.21 676.25 Td (The ) Tj ET Q q 0 0 0 rg BT 221.71 676.25 Td (ASU is based on the principle that an entity should recognize revenue to depict the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 664.25 Td (transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 652.25 Td (in exchange for those goods or services. ) Tj ET Q q 0 0 0 rg BT 212.55 652.25 Td (The ) Tj ET Q q 0 0 0 rg BT 230.04 652.25 Td (ASU also requires additional disclosure about the nature, amount, timing and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 640.25 Td (uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 628.25 Td (judgments and assets recognized from costs incurred to fulfill a contract. Entities have the option of using either a full ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 616.25 Td (retrospective or a modified retrospective approach for the adoption of the new standard. ) Tj ET Q q 0 0 0 rg BT 403.20 616.25 Td (Additional ) Tj ET Q q 0 0 0 rg BT 447.92 616.25 Td (ASUs have since been ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 604.25 Td (issued, all of which provide additional guidance, examples and technical corrections for the implementation of ) Tj ET Q q 0 0 0 rg BT 494.03 604.25 Td (ASU No. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 592.25 Td (2014-09. ) Tj ET Q q 0 0 0 rg BT 88.15 592.25 Td (The guidance is ef) Tj ET Q q 0 0 0 rg BT 161.55 592.25 Td (fective for the Company at the beginning of its 2018 fiscal year) Tj ET Q q 0 0 0 rg BT 414.68 592.25 Td (, with early adoption permitted. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.26 592.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 571.25 Td (While we are still in the process of analyzing our various revenue streams to determine the full impact this standard will have ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 559.25 Td (on our revenue recognition, cost deferral, systems and processes, the Company has determined the following:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.93 559.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 538.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 538.25 Td (The Company will adopt the standard using the modified retrospective approach on January 1, 2018. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.18 538.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 517.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 517.25 Td (W) Tj ET Q q 0 0 0 rg BT 94.64 517.25 Td (e expect certain revenue streams to have accelerated revenue recognition timing. In particular) Tj ET Q q 0 0 0 rg BT 468.22 517.25 Td (, the revenue ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 505.25 Td (recognition for our Retiree Medicare Exchange is expected to move from monthly ratable recognition over the policy ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 493.25 Td (period, to the recognition upon placement of the policy during the Company) Tj ET Q q 0 0 0 rg BT 393.71 493.25 Td (s fourth quarter of the preceding calendar ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 481.25 Td (year in the amount of one year of expected commissions. ) Tj ET Q q 0 0 0 rg BT 316.58 481.25 Td (Therefore, upon adoption, we will reflect an adjustment to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 469.25 Td (retained earnings for the revenue that would otherwise have been recognized during our 2018 calendar year since our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 457.25 Td (earnings process will have been completed during the fourth quarter of 2017.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.24 457.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 436.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 436.25 Td (W) Tj ET Q q 0 0 0 rg BT 94.64 436.25 Td (e expect our accounting for deferred costs will change. First, for those portions of the business that currently defer ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 424.25 Td (costs \(related to system implementation activities\), the length of time over which we amortize those costs is expected ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 412.25 Td (to extend to a longer estimated contract term. Currently these costs are amortized over a typical period of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.90 412.25 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.90 412.25 Td (-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.23 412.25 Td (5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.23 412.25 Td ( years in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 400.25 Td (accordance with the initial stated terms of the customer agreement. Second, we believe there may be other types of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 388.25 Td (arrangements with associated costs that do not meet the rules for cost deferral under current U.S. GAAP) Tj ET Q q 0 0 0 rg BT 502.17 388.25 Td ( but do meet ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 376.25 Td (the rules under the new standard. ) Tj ET Q q 0 0 0 rg BT 220.50 376.25 Td (W) Tj ET Q q 0 0 0 rg BT 229.13 376.25 Td (e are still evaluating the types of arrangements that might now have cost deferral ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 364.25 Td (impacts.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 119.60 364.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 343.25 Td (The Company continues to update its assessment of the impacts of the accounting standard, and related updates, to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 331.25 Td (consolidated financial statements, and will note material impacts when known. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.69 331.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.25 Td (In February 2016, the F) Tj ET Q q 0 0 0 rg BT 143.96 310.25 Td (ASB issued ) Tj ET Q q 0 0 0 rg BT 192.87 310.25 Td (ASU No. 2016-02 Leases, which requires a lessee to recognize in the statement of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.25 Td (financial position a liability to make lease payments \(the lease liability\) and a right-of-use asset representing its right to use the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.25 Td (underlying asset for the lease term. ) Tj ET Q q 0 0 0 rg BT 192.27 286.25 Td (The ) Tj ET Q q 0 0 0 rg BT 209.77 286.25 Td (ASU becomes ef) Tj ET Q q 0 0 0 rg BT 277.34 286.25 Td (fective for the Company at the beginning of the 2019 fiscal year and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.25 Td (early adoption is permitted. In transition, the Company is required to recognize and measure leases at the beginning of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.25 Td (earliest period presented using a modified retrospective approach, which includes a number of optional practical expedients. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.25 Td (While the Company continues to assess the impact of the ) Tj ET Q q 0 0 0 rg BT 280.51 250.25 Td (ASU to the consolidated financial statements, the majority of our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.25 Td (leases are currently considered operating leases and will be capitalized as a lease asset on our balance sheet with a related lease ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.25 Td (liability for the obligated lease payments.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 205.25 Td (In March 2016, the F) Tj ET Q q 0 0 0 rg BT 133.96 205.25 Td (ASB issued ) Tj ET Q q 0 0 0 rg BT 182.87 205.25 Td (ASU No. 2016-09 Compensation - Stock Compensation, which simplifies several aspects of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 193.25 Td (the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 181.25 Td (equity or liabilities, and classification on the statement of cash flows. ) Tj ET Q q 0 0 0 rg BT 328.92 181.25 Td (The ) Tj ET Q q 0 0 0 rg BT 346.41 181.25 Td (ASU becomes ef) Tj ET Q q 0 0 0 rg BT 413.99 181.25 Td (fective for the Company at the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 169.25 Td (beginning of the 2017 fiscal year and early adoption is permitted. Certain applications of the ) Tj ET Q q 0 0 0 rg BT 421.56 169.25 Td (ASU are to be applied ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 157.25 Td (prospectively or retrospectively with a cumulative-ef) Tj ET Q q 0 0 0 rg BT 261.68 157.25 Td (fect adjustment to the balance sheet as of the beginning of the fiscal year ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 145.25 Td (of adoption. ) Tj ET Q q 0 0 0 rg BT 100.64 145.25 Td (The Company is currently assessing the impact that this standard will have on its consolidated financial statements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 561.93 145.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 124.25 Td (In ) Tj ET Q q 0 0 0 rg BT 60.28 124.25 Td (August 2016, the F) Tj ET Q q 0 0 0 rg BT 136.21 124.25 Td (ASB issued ) Tj ET Q q 0 0 0 rg BT 185.11 124.25 Td (ASU No. 2016-15 Statement of Cash Flows - Classification of Certain Cash Receipts and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 112.25 Td (Cash Payments, which amends guidance on presentation and classification of eight specific cash flow issues with the objective ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 100.25 Td (of reducing diversity in practice. ) Tj ET Q q 0 0 0 rg BT 182.55 100.25 Td (The ) Tj ET Q q 0 0 0 rg BT 200.04 100.25 Td (ASU becomes ef) Tj ET Q q 0 0 0 rg BT 267.62 100.25 Td (fective for the Company at the beginning of 2018. Early adoption is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 88.25 Td (permitted and any adjustments should be reflected as of the beginning of the fiscal year that includes that interim period. ) Tj ET Q q 0 0 0 rg BT 534.02 88.25 Td (An ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 76.25 Td (entity that elects early adoption must adopt all of the amendments in the same period. ) Tj ET Q q 0 0 0 rg BT 394.17 76.25 Td (The Company is still assessing the impact ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 64.25 Td (of this ) Tj ET Q q 0 0 0 rg BT 77.23 64.25 Td (ASU, but we believe the impact on our financial statements will be immaterial as we are lar) Tj ET Q q 0 0 0 rg BT 443.87 64.25 Td (gely in compliance with its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 52.25 Td (requirements.) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 175 0 obj <> endobj 176 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (87) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (In October 2016, the F) Tj ET Q q 0 0 0 rg BT 140.07 742.10 Td (ASB issued ) Tj ET Q q 0 0 0 rg BT 188.97 742.10 Td (ASU No. 2016-16 Income ) Tj ET Q q 0 0 0 rg BT 300.17 742.10 Td (T) Tj ET Q q 0 0 0 rg BT 305.58 742.10 Td (axes, which amends guidance regarding the recognition of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (current and deferred income taxes for intra-entity asset transfers. Current U.S. GAAP) Tj ET Q q 0 0 0 rg BT 393.68 730.10 Td ( prohibits the recognition of current and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (deferred income taxes for an intra-entity asset transfer until the asset has been sold to an outside party) Tj ET Q q 0 0 0 rg BT 456.16 718.10 Td (. ) Tj ET Q q 0 0 0 rg BT 460.98 718.10 Td (The ) Tj ET Q q 0 0 0 rg BT 478.47 718.10 Td (ASU states that an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (entity should recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (transfer occurs. ) Tj ET Q q 0 0 0 rg BT 113.96 694.10 Td (The amendments in this ) Tj ET Q q 0 0 0 rg BT 211.72 694.10 Td (ASU should be applied on a modified retrospective basis through a cumulative-ef) Tj ET Q q 0 0 0 rg BT 537.84 694.10 Td (fect ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (adjustment directly to retained earnings as of the beginning of the period of adoption. ) Tj ET Q q 0 0 0 rg BT 393.89 682.10 Td (The Company intends to early adopt this ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (standard on January 1, 2017. ) Tj ET Q q 0 0 0 rg BT 167.29 670.10 Td (The cumulative-ef) Tj ET Q q 0 0 0 rg BT 240.69 670.10 Td (fect adjustment will be immaterial to the consolidated financial statements.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 649.10 Td (In January 2017, the F) Tj ET Q q 0 0 0 rg BT 138.96 649.10 Td (ASB issued ) Tj ET Q q 0 0 0 rg BT 187.87 649.10 Td (ASU No. 2017-01 Business Combinations - Clarifying the Definition of a Business, which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 637.10 Td (clarifies the definition of a business, to assist with the evaluation of whether transactions should be accounted for as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 625.10 Td (acquisitions \(or disposals\) of assets or businesses. ) Tj ET Q q 0 0 0 rg BT 251.46 625.10 Td (The amendments in this ) Tj ET Q q 0 0 0 rg BT 349.23 625.10 Td (ASU include the provision of a screen to determine ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 613.10 Td (when an integrated set of assets and activities is not a business; that is, when substantially all of the fair value of the gross ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 601.10 Td (assets acquired \(or disposed of\) is concentrated in a single identifiable asset \(or a group of similar identifiable assets\), the set is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 589.10 Td (not a business. ) Tj ET Q q 0 0 0 rg BT 110.93 589.10 Td (This screen reduces the number of transactions that need to be further evaluated. ) Tj ET Q q 0 0 0 rg BT 435.06 589.10 Td (The ) Tj ET Q q 0 0 0 rg BT 452.56 589.10 Td (ASU becomes ef) Tj ET Q q 0 0 0 rg BT 520.14 589.10 Td (fective for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 577.10 Td (the Company at the beginning of 2018. ) Tj ET Q q 0 0 0 rg BT 208.68 577.10 Td (The amendments in this ) Tj ET Q q 0 0 0 rg BT 306.45 577.10 Td (ASU should be applied prospectively) Tj ET Q q 0 0 0 rg BT 455.21 577.10 Td (. Early adoption is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 565.10 Td (permitted for acquisitions \(or disposals\) that have not already been reported in the financial statements. ) Tj ET Q q 0 0 0 rg BT 464.69 565.10 Td (The Company is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 553.10 Td (currently assessing the impact that this ) Tj ET Q q 0 0 0 rg BT 206.64 553.10 Td (ASU will have on its consolidated financial statements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.26 553.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 532.10 Td (In January 2017, the F) Tj ET Q q 0 0 0 rg BT 138.96 532.10 Td (ASB issued ) Tj ET Q q 0 0 0 rg BT 187.87 532.10 Td (ASU No. 2017-04 Simplifying the ) Tj ET Q q 0 0 0 rg BT 331.57 532.10 Td (T) Tj ET Q q 0 0 0 rg BT 336.98 532.10 Td (est for Goodwill Impairment, which simplifies the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 520.10 Td (subsequent measurement of goodwill by eliminating Step 2 from the goodwill impairment test. In computing the implied fair ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 508.10 Td (value of goodwill under Step 2, current U.S. GAAP) Tj ET Q q 0 0 0 rg BT 256.54 508.10 Td ( requires the performance of procedures to determine the fair value at the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 496.10 Td (impairment testing date of assets and liabilities \(including unrecognized assets and liabilities\) following the procedure that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 484.10 Td (would be required in determining the fair value of assets acquired and liabilities assumed in a business combination. Instead, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 472.10 Td (the amendments under this ) Tj ET Q q 0 0 0 rg BT 159.42 472.10 Td (ASU require the goodwill impairment test to be performed by comparing the fair value of a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 460.10 Td (reporting unit with its carrying amount. ) Tj ET Q q 0 0 0 rg BT 209.70 460.10 Td (An impairment char) Tj ET Q q 0 0 0 rg BT 290.04 460.10 Td (ge should be recognized for the amount by which the carrying ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 448.10 Td (amount exceeds the reporting unit) Tj ET Q q 0 0 0 rg BT 188.85 448.10 Td (s fair value; however) Tj ET Q q 0 0 0 rg BT 272.58 448.10 Td (, the loss recognized should not exceed the total amount of goodwill ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 436.10 Td (allocated to that reporting unit. ) Tj ET Q q 0 0 0 rg BT 175.89 436.10 Td (The ) Tj ET Q q 0 0 0 rg BT 193.39 436.10 Td (ASU becomes ef) Tj ET Q q 0 0 0 rg BT 260.97 436.10 Td (fective for the Company at the beginning of 2020. ) Tj ET Q q 0 0 0 rg BT 463.51 436.10 Td (The amendments in this ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 424.10 Td (ASU should be applied on a prospective basis. Early adoption is permitted for interim or annual goodwill impairment tests ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 412.10 Td (performed on testing dates after January 1, 2017. ) Tj ET Q q 0 0 0 rg BT 248.09 412.10 Td (The Company does not expect an immediate impact to its consolidated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 400.10 Td (financial statements upon adopting this ) Tj ET Q q 0 0 0 rg BT 208.58 400.10 Td (ASU since the most recent Step 1 goodwill impairment test resulted in fair values ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 388.10 Td (exceeding carrying values for all reporting units at October 1, 2016.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.58 388.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 367.10 Td (Adopted) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 83.33 367.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.10 Td (In May 2015, the F) Tj ET Q q 0 0 0 rg BT 126.20 346.10 Td (ASB issued ) Tj ET Q q 0 0 0 rg BT 175.10 346.10 Td (ASU No. 2015-07, Fair ) Tj ET Q q 0 0 0 rg BT 274.91 346.10 Td (V) Tj ET Q q 0 0 0 rg BT 281.03 346.10 Td (alue Measurement - Disclosures for Investments in Certain Entities ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.10 Td (That Calculate Net ) Tj ET Q q 0 0 0 rg BT 127.47 334.10 Td (Asset ) Tj ET Q q 0 0 0 rg BT 152.01 334.10 Td (V) Tj ET Q q 0 0 0 rg BT 158.13 334.10 Td (alue per Share \(or Its Equivalent\), which simplifies reporting requirements and modifies those ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.10 Td (investments required to be classified within the fair value hierarchy) Tj ET Q q 0 0 0 rg BT 318.98 322.10 Td (. Certain investments measured at fair value using the Net ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.10 Td (Asset ) Tj ET Q q 0 0 0 rg BT 74.54 310.10 Td (V) Tj ET Q q 0 0 0 rg BT 80.65 310.10 Td (alue \(NA) Tj ET Q q 0 0 0 rg BT 119.62 310.10 Td (V\) practical expedient are no longer required to be classified as a Level within the fair value hierarchy table. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.10 Td (Entities will be required to include in their disclosure, the fair value of the investments using the NA) Tj ET Q q 0 0 0 rg BT 450.83 298.10 Td (V) Tj ET Q q 0 0 0 rg BT 457.88 298.10 Td ( practical expedient so ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.10 Td (that financial statement users can reconcile amounts reported in the fair value hierarchy table to amounts reported on the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.10 Td (balance sheet. ) Tj ET Q q 0 0 0 rg BT 108.40 274.10 Td (The ) Tj ET Q q 0 0 0 rg BT 125.89 274.10 Td (ASU is to be applied retrospectively in all periods presented in an entity) Tj ET Q q 0 0 0 rg BT 416.93 274.10 Td (s financial statements. ) Tj ET Q q 0 0 0 rg BT 507.84 274.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.10 Td (Company adopted this standard on January 1, 2016. ) Tj ET Q q 0 0 0 rg BT 259.79 262.10 Td (The adoption has been reflected in the fair value tables in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.64 262.10 Td (Note 12) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.57 262.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.10 Td (Retirement Benefits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 130.25 250.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 132.75 250.10 Td (to these financial statements. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 250.77 250.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 229.10 Td (In September 2015, the F) Tj ET Q q 0 0 0 rg BT 150.63 229.10 Td (ASB issued ) Tj ET Q q 0 0 0 rg BT 199.53 229.10 Td (ASU No. 2015-16 Simplifying the ) Tj ET Q q 0 0 0 rg BT 342.87 229.10 Td (Accounting for Measurement-Period ) Tj ET Q q 0 0 0 rg BT 491.99 229.10 Td (Adjustments) Tj ET Q q 0 0 0 rg BT 545.14 229.10 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 217.10 Td (relation to business combinations, which requires that an acquirer recognize adjustments to provisional amounts that are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 205.10 Td (identified in the measurement period in the reporting period in which the adjustment amounts are determined. ) Tj ET Q q 0 0 0 rg BT 491.08 205.10 Td (The Company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 193.10 Td (adopted this standard on January 1, 2016. ) Tj ET Q q 0 0 0 rg BT 220.53 193.10 Td (Adjustments made to provisional amounts related to business combinations are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 181.10 Td (reflected in the consolidated financial statements and disclosed in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.63 181.10 Td (Note 8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.57 181.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.57 181.10 Td (Goodwill and Other Intangible ) Tj ET Q q 0 0 0 rg BT 481.55 181.10 Td (Assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.66 181.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.10 181.10 Td (Note 3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.04 181.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 169.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.50 169.10 Td (Mer) Tj ET Q q 0 0 0 rg BT 78.98 169.10 Td (ger and ) Tj ET Q q 0 0 0 rg BT 110.63 169.10 Td (Acquisitions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 161.19 169.10 Td ( to these consolidated financial statements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.25 169.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 148.10 Td (Note 3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 77.49 148.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 92.49 148.10 Td (Merger) Tj ET Q q 0 0 0 rg BT 124.50 148.10 Td ( and ) Tj ET Q q 0 0 0 rg BT 145.07 148.10 Td (Acquisitions) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 197.87 148.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 127.10 Td (Merger) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 106.10 Td (On January 4, 2016, pursuant to the ) Tj ET Q q 0 0 0 rg BT 194.70 106.10 Td (Agreement and Plan of Mer) Tj ET Q q 0 0 0 rg BT 306.15 106.10 Td (ger) Tj ET Q q 0 0 0 rg BT 318.52 106.10 Td (, dated June 29, 2015, as amended on November 19, 2015, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 94.10 Td (between ) Tj ET Q q 0 0 0 rg BT 85.63 94.10 Td (W) Tj ET Q q 0 0 0 rg BT 94.67 94.10 Td (illis, ) Tj ET Q q 0 0 0 rg BT 114.50 94.10 Td (T) Tj ET Q q 0 0 0 rg BT 119.91 94.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 146.11 94.10 Td (W) Tj ET Q q 0 0 0 rg BT 154.75 94.10 Td (atson, and Citadel Mer) Tj ET Q q 0 0 0 rg BT 245.65 94.10 Td (ger Sub, Inc., a wholly-owned subsidiary of ) Tj ET Q q 0 0 0 rg BT 423.22 94.10 Td (W) Tj ET Q q 0 0 0 rg BT 432.26 94.10 Td (illis formed for the purpose of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 82.10 Td (facilitating this transaction \(Mer) Tj ET Q q 0 0 0 rg BT 182.28 82.10 Td (ger Sub\), Mer) Tj ET Q q 0 0 0 rg BT 241.25 82.10 Td (ger Sub mer) Tj ET Q q 0 0 0 rg BT 289.94 82.10 Td (ged with and into ) Tj ET Q q 0 0 0 rg BT 361.97 82.10 Td (T) Tj ET Q q 0 0 0 rg BT 367.38 82.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 393.58 82.10 Td (W) Tj ET Q q 0 0 0 rg BT 402.22 82.10 Td (atson, with ) Tj ET Q q 0 0 0 rg BT 448.43 82.10 Td (T) Tj ET Q q 0 0 0 rg BT 453.84 82.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 480.04 82.10 Td (W) Tj ET Q q 0 0 0 rg BT 488.68 82.10 Td (atson continuing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 70.10 Td (as the surviving corporation and a wholly-owned subsidiary of ) Tj ET Q q 0 0 0 rg BT 302.82 70.10 Td (W) Tj ET Q q 0 0 0 rg BT 311.86 70.10 Td (illis. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.87 70.10 Td ( ) Tj ET Q endstream endobj 177 0 obj <> endobj 178 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (88) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 742.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 81.61 742.10 Td (W) Tj ET Q q 0 0 0 rg BT 90.25 742.10 Td (atson was a leading global professional services firm operating throughout the world, dating back more than ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.41 742.10 Td (100 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.10 730.10 Td (. ) Tj ET Q q 0 0 0 rg BT 75.92 730.10 Td (The Mer) Tj ET Q q 0 0 0 rg BT 110.44 730.10 Td (ger will allow the combined firm to go to market with complementary strategic product and services of) Tj ET Q q 0 0 0 rg BT 522.36 730.10 Td (ferings. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 555.13 730.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 709.10 Td (At the ef) Tj ET Q q 0 0 0 rg BT 84.80 709.10 Td (fective time of the Mer) Tj ET Q q 0 0 0 rg BT 176.81 709.10 Td (ger \(the Ef) Tj ET Q q 0 0 0 rg BT 222.71 709.10 Td (fective ) Tj ET Q q 0 0 0 rg BT 252.23 709.10 Td (T) Tj ET Q q 0 0 0 rg BT 257.99 709.10 Td (ime\), each issued and outstanding share of ) Tj ET Q q 0 0 0 rg BT 433.31 709.10 Td (T) Tj ET Q q 0 0 0 rg BT 438.72 709.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 464.92 709.10 Td (W) Tj ET Q q 0 0 0 rg BT 473.56 709.10 Td (atson common stock ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 697.10 Td (\(the T) Tj ET Q q 0 0 0 rg BT 76.79 697.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 102.99 697.10 Td (W) Tj ET Q q 0 0 0 rg BT 111.63 697.10 Td (atson shares\), was converted into the right to receive ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.66 697.10 Td (2.6490) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.16 697.10 Td ( validly issued, fully paid and nonassessable ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 685.10 Td (ordinary shares of ) Tj ET Q q 0 0 0 rg BT 124.52 685.10 Td (W) Tj ET Q q 0 0 0 rg BT 133.55 685.10 Td (illis \(the W) Tj ET Q q 0 0 0 rg BT 181.47 685.10 Td (illis ordinary shares\), ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.01 685.10 Td ($0.0001) Tj ET Q q 0 0 0 rg BT 304.14 685.10 Td (15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.14 685.10 Td ( nominal value per share, other than any ) Tj ET Q q 0 0 0 rg BT 476.95 685.10 Td (T) Tj ET Q q 0 0 0 rg BT 482.36 685.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 508.56 685.10 Td (W) Tj ET Q q 0 0 0 rg BT 517.20 685.10 Td (atson ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 673.10 Td (shares owned by ) Tj ET Q q 0 0 0 rg BT 118.97 673.10 Td (T) Tj ET Q q 0 0 0 rg BT 124.38 673.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 150.58 673.10 Td (W) Tj ET Q q 0 0 0 rg BT 159.22 673.10 Td (atson, ) Tj ET Q q 0 0 0 rg BT 185.15 673.10 Td (W) Tj ET Q q 0 0 0 rg BT 194.18 673.10 Td (illis or Mer) Tj ET Q q 0 0 0 rg BT 239.00 673.10 Td (ger Sub at the Ef) Tj ET Q q 0 0 0 rg BT 306.02 673.10 Td (fective ) Tj ET Q q 0 0 0 rg BT 335.54 673.10 Td (T) Tj ET Q q 0 0 0 rg BT 341.30 673.10 Td (ime and the ) Tj ET Q q 0 0 0 rg BT 390.27 673.10 Td (T) Tj ET Q q 0 0 0 rg BT 395.68 673.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 421.88 673.10 Td (W) Tj ET Q q 0 0 0 rg BT 430.52 673.10 Td (atson shares held by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 661.10 Td (stockholders who are entitled to and who properly exercised dissenter) Tj ET Q q 0 0 0 rg BT 329.45 661.10 Td () Tj ET Q q 0 0 0 rg BT 332.23 661.10 Td (s rights under Delaware law) Tj ET Q q 0 0 0 rg BT 443.76 661.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.76 661.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 640.10 Td (Immediately following the Mer) Tj ET Q q 0 0 0 rg BT 175.62 640.10 Td (ger) Tj ET Q q 0 0 0 rg BT 187.99 640.10 Td (, ) Tj ET Q q 0 0 0 rg BT 192.81 640.10 Td (W) Tj ET Q q 0 0 0 rg BT 201.85 640.10 Td (illis ef) Tj ET Q q 0 0 0 rg BT 226.94 640.10 Td (fected \(i\) a consolidation \(i.e., a reverse stock split under Irish law\) of ) Tj ET Q q 0 0 0 rg BT 508.33 640.10 Td (W) Tj ET Q q 0 0 0 rg BT 517.36 640.10 Td (illis ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 628.10 Td (ordinary shares whereby every ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 175.50 628.10 Td (2.6490) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 203.00 628.10 Td ( ) Tj ET Q q 0 0 0 rg BT 205.32 628.10 Td (W) Tj ET Q q 0 0 0 rg BT 214.36 628.10 Td (illis ordinary shares were consolidated into one ) Tj ET Q q 0 0 0 rg BT 405.52 628.10 Td (W) Tj ET Q q 0 0 0 rg BT 414.56 628.10 Td (illis ordinary share ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.04 628.10 Td ($0.000304635) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.54 628.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 616.10 Td (nominal value per share and \(ii\) an amendment to its Constitution and other or) Tj ET Q q 0 0 0 rg BT 363.35 616.10 Td (ganizational documents to change its name from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 604.10 Td (W) Tj ET Q q 0 0 0 rg BT 59.04 604.10 Td (illis Group Holdings Public Limited Company to ) Tj ET Q q 0 0 0 rg BT 257.47 604.10 Td (W) Tj ET Q q 0 0 0 rg BT 266.50 604.10 Td (illis ) Tj ET Q q 0 0 0 rg BT 283.83 604.10 Td (T) Tj ET Q q 0 0 0 rg BT 289.24 604.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 315.44 604.10 Td (W) Tj ET Q q 0 0 0 rg BT 324.08 604.10 Td (atson Public Limited Company) Tj ET Q q 0 0 0 rg BT 448.14 604.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.14 604.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 583.10 Td (On December 29, 2015, the third business day immediately prior to the closing date of the Mer) Tj ET Q q 0 0 0 rg BT 429.73 583.10 Td (ger) Tj ET Q q 0 0 0 rg BT 442.09 583.10 Td (, ) Tj ET Q q 0 0 0 rg BT 446.91 583.10 Td (T) Tj ET Q q 0 0 0 rg BT 452.32 583.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 478.53 583.10 Td (W) Tj ET Q q 0 0 0 rg BT 487.16 583.10 Td (atson declared and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 571.10 Td (paid the ) Tj ET Q q 0 0 0 rg BT 84.25 571.10 Td (T) Tj ET Q q 0 0 0 rg BT 89.66 571.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 115.86 571.10 Td (W) Tj ET Q q 0 0 0 rg BT 124.50 571.10 Td (atson pre-mer) Tj ET Q q 0 0 0 rg BT 179.58 571.10 Td (ger special dividend, in an amount of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.64 571.10 Td ($10.00) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.14 571.10 Td ( per share of ) Tj ET Q q 0 0 0 rg BT 410.16 571.10 Td (T) Tj ET Q q 0 0 0 rg BT 415.57 571.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 441.77 571.10 Td (W) Tj ET Q q 0 0 0 rg BT 450.41 571.10 Td (atson common stock, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 559.10 Td (approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 110.26 559.10 Td ($694 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 161.65 559.10 Td ( in the aggregate based on approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.54 559.10 Td (69 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.93 559.10 Td ( ) Tj ET Q q 0 0 0 rg BT 372.25 559.10 Td (T) Tj ET Q q 0 0 0 rg BT 377.66 559.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 403.86 559.10 Td (W) Tj ET Q q 0 0 0 rg BT 412.50 559.10 Td (atson shares issued and outstanding ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 547.10 Td (at December 29, 2015.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 140.80 547.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (On December 30, 2015, all ) Tj ET Q q 0 0 0 rg BT 160.62 526.10 Td (T) Tj ET Q q 0 0 0 rg BT 166.03 526.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 192.23 526.10 Td (W) Tj ET Q q 0 0 0 rg BT 200.87 526.10 Td (atson treasury stock was canceled.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.32 526.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 505.10 Td (The Mer) Tj ET Q q 0 0 0 rg BT 84.53 505.10 Td (ger was accounted for using the acquisition method of accounting with ) Tj ET Q q 0 0 0 rg BT 370.10 505.10 Td (W) Tj ET Q q 0 0 0 rg BT 379.14 505.10 Td (illis considered the accounting acquirer of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 493.10 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 493.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 81.61 493.10 Td (W) Tj ET Q q 0 0 0 rg BT 90.25 493.10 Td (atson. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 116.36 493.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 472.10 Td (The table below presents the calculation of aggregate Mer) Tj ET Q q 0 0 0 rg BT 281.94 472.10 Td (ger Consideration) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 353.32 472.10 Td (.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 447.60 435.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 447.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 447.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 417.60 435.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 417.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 417.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 387.60 435.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 387.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 387.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 357.60 435.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 357.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 357.60 73.00 -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 489.5 447.6 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 489.5 417.6 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 489.5 387.6 m 562.5 387.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 357.6 m 562.5 357.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 343.6 m 562.5 343.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 341.6 m 562.5 341.6 l s BT /F2 9.00 Tf ET q 0 0 0 rg BT 494.85 452.05 Td (January 4, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 437.27 Td (Number of shares of Towers Watson common stock outstanding as of January 4, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.60 437.27 Td (69 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 422.27 Td (Exchange ratio) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 422.27 Td (2.6490) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 407.27 Td (Number of Willis Group Holdings shares issued \(prior to reverse stock split\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.60 407.27 Td (184 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 392.27 Td (Willis Group Holdings price per share on January 4, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.00 392.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 392.27 Td (47.18) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 377.27 Td (Fair value of 184 million Willis ordinary shares) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.00 377.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 377.27 Td (8,686) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 362.27 Td (Value of equity awards assumed) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 362.27 Td (37) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 347.27 Td (Aggregate Merger Consideration) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.00 347.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 347.27 Td (8,723) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 179 0 obj <> endobj 180 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (89) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (A) Tj ET Q q 0 0 0 rg BT 56.67 742.10 Td ( summary of the fair values of the identifiable assets acquired, and liabilities assumed, of ) Tj ET Q q 0 0 0 rg BT 414.44 742.10 Td (T) Tj ET Q q 0 0 0 rg BT 419.85 742.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 446.05 742.10 Td (W) Tj ET Q q 0 0 0 rg BT 454.69 742.10 Td (atson at January 4, 2016 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (are summarized in the following table.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 704.60 435.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 704.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 704.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 674.60 435.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 674.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 674.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 644.60 435.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 644.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 644.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 614.60 435.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 614.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 614.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 584.60 435.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 584.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 584.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 554.60 435.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 554.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 554.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 524.60 435.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 524.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 524.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 494.60 435.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 494.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 494.60 73.00 -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 489.5 704.6 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 489.5 509.6 m 562.5 509.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 479.6 m 562.5 479.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 465.6 m 562.5 465.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 463.6 m 562.5 463.6 l s BT /F2 9.00 Tf ET q 0 0 0 rg BT 494.85 709.05 Td (January 4, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 694.27 Td (Cash and cash equivalents) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.00 694.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 694.27 Td (476) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 679.27 Td (Accounts receivable, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 679.27 Td (825) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 664.27 Td (Other current assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 664.27 Td (82) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 649.27 Td (Fixed assets, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 649.27 Td (204) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 634.27 Td (Goodwill) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 634.27 Td (6,783) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 619.27 Td (Intangible assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 619.27 Td (3,991) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 604.27 Td (Pension benefits assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 604.27 Td (67) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 589.27 Td (Other non-current assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 589.27 Td (115) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 574.27 Td (Deferred tax liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 574.32 Td (\(1,151) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 574.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 559.27 Td (Liability for pension benefits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 559.32 Td (\(923) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 559.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 544.27 Td (Other current liabilities ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 154.80 548.80 Td (\(i\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 544.32 Td (\(667) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 544.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 529.27 Td (Other non-current liabilities ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 173.13 533.80 Td (\(ii\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 529.32 Td (\(331) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 529.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 514.27 Td (Long term debt, including current portion ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 228.13 518.80 Td (\(iii\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 514.32 Td (\(740) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 514.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 499.27 Td (Net assets acquired) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 499.27 Td (8,731) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 484.27 Td (Noncontrolling interests acquired) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 484.32 Td (\(8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 484.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 469.27 Td (Allocated Aggregate Merger Consideration) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.00 469.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 469.27 Td (8,723) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 453.10 Td (____________________) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 150.00 453.10 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 68.00 440.50 Td (\(i\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 440.50 Td (Includes ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 115.10 440.50 Td ($348 million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 156.21 440.50 Td ( in accounts payable, accrued liabilities and deferred revenue, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 355.45 440.50 Td ($308 million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 396.57 440.50 Td ( in employee-related liabilities and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 509.64 440.50 Td ($1) Tj ET Q q 0 0 0 rg BT 517.34 440.50 Td (1 million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 546.45 440.50 Td ( in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 430.90 Td (other current liabilities.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 160.86 430.90 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 68.00 418.30 Td (\(ii\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 418.30 Td (Includes acquired contingent liabilities of $) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 224.85 418.30 Td (242 million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 261.96 418.30 Td (. See ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 279.51 418.30 Td (Note 13) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 305.06 418.30 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 317.06 418.30 Td (Commitments and Contingencies) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 423.72 418.30 Td ( for a discussion of our material acquired ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 408.70 Td (contingencies related to Legacy ) Tj ET Q q 0 0 0 rg BT 189.36 408.70 Td (T) Tj ET Q q 0 0 0 rg BT 193.69 408.70 Td (owers ) Tj ET Q q 0 0 0 rg BT 214.65 408.70 Td (W) Tj ET Q q 0 0 0 rg BT 221.56 408.70 Td (atson. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 242.45 408.70 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 68.00 396.10 Td (\(iii\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 396.10 Td (Represents both debt due upon change of control of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 253.29 396.10 Td ($400 million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 294.40 396.10 Td ( borrowed under ) Tj ET Q q 0 0 0 rg BT 349.13 396.10 Td (T) Tj ET Q q 0 0 0 rg BT 353.46 396.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 374.42 396.10 Td (W) Tj ET Q q 0 0 0 rg BT 381.33 396.10 Td (atson) Tj ET Q q 0 0 0 rg BT 400.44 396.10 Td (s term loan \() Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 440.65 396.10 Td ($188 million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 481.76 396.10 Td (\) and revolving credit ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 386.50 Td (facility \() Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 113.32 386.50 Td ($212 million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 154.43 386.50 Td (\) and a draw down under a new term loan of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 298.16 386.50 Td ($340 million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 339.27 386.50 Td (. ) Tj ET Q q 0 0 0 rg BT 345.13 386.50 Td (The ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 359.57 386.50 Td ($400 million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 400.68 386.50 Td ( debt was repaid by ) Tj ET Q q 0 0 0 rg BT 464.74 386.50 Td (W) Tj ET Q q 0 0 0 rg BT 471.97 386.50 Td (illis) Tj ET Q q 0 0 0 rg BT 486.04 386.50 Td ( borrowings under the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 376.90 Td (1-year term loan facility on January 4, 2016. ) Tj ET Q q 0 0 0 rg BT 232.25 376.90 Td (The ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 246.69 376.90 Td ($340 million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 287.80 376.90 Td ( new term loan partially funded the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 402.21 376.90 Td ($694 million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 443.32 376.90 Td ( ) Tj ET Q q 0 0 0 rg BT 445.18 376.90 Td (T) Tj ET Q q 0 0 0 rg BT 449.51 376.90 Td (owers ) Tj ET Q q 0 0 0 rg BT 470.47 376.90 Td (W) Tj ET Q q 0 0 0 rg BT 477.38 376.90 Td (atson pre-mer) Tj ET Q q 0 0 0 rg BT 521.44 376.90 Td (ger special ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 367.30 Td (dividend. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 118.00 367.30 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.30 Td (The assessment outlined above was updated to reflect changes in the initial estimates of the fair values of assets and liabilities ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.30 Td (acquired as presented in the subsequent event disclosure of the fiscal year 2015 Form 10-K, including the following material ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.30 Td (changes: intangible assets decreased by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 210.22 322.30 Td ($1) Tj ET Q q 0 0 0 rg BT 219.85 322.30 Td (19 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.24 322.30 Td (; deferred tax liabilities increased by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.51 322.30 Td ($135 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.90 322.30 Td (; and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.12 322.30 Td (goodwill increased ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.30 Td (by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.50 310.30 Td ($237 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 113.89 310.30 Td ( for the residual amount of the changes.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.17 310.30 Td ( Goodwill is calculated as the dif) Tj ET Q q 0 0 0 rg BT 403.62 310.30 Td (ference between the aggregate mer) Tj ET Q q 0 0 0 rg BT 542.80 310.30 Td (ger ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.30 Td (consideration and the acquisition date fair value of the net assets acquired, and represents the value of the Legacy ) Tj ET Q q 0 0 0 rg BT 505.75 298.30 Td (T) Tj ET Q q 0 0 0 rg BT 511.16 298.30 Td (owers ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.30 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 286.30 Td (atson assembled workforce and the future economic benefits that we expect to achieve as a result of the Mer) Tj ET Q q 0 0 0 rg BT 491.62 286.30 Td (ger) Tj ET Q q 0 0 0 rg BT 503.84 286.30 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.84 286.30 Td (None) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.50 286.30 Td ( of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.30 Td (goodwill recognized on the transaction is tax deductible. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 278.54 274.30 Td ( ) Tj ET Q endstream endobj 181 0 obj <> endobj 182 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (90) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (The acquired intangible assets are attributable to the following categories:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 699.60 117.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 167.50 699.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 171.50 699.60 142.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 313.50 699.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.50 699.60 142.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 699.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.50 699.60 45.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.50 699.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 699.60 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 662.60 117.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 167.50 662.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 171.50 662.60 142.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 313.50 662.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.50 662.60 142.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 662.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.50 662.60 45.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.50 662.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 662.60 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 634.60 117.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 167.50 634.60 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 171.50 634.60 142.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 313.50 634.60 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.50 634.60 142.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 634.60 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.50 634.60 45.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.50 634.60 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 634.60 50.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 597.60 117.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 167.50 597.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 171.50 597.60 142.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 313.50 597.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.50 597.60 142.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 597.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.50 597.60 45.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.50 597.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 597.60 50.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 317.5 699.6 m 459.5 699.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463.5 699.6 m 508.5 699.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 699.6 m 562.5 699.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 167.5 699.6 m 171.5 699.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 171.5 699.6 m 313.5 699.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463.5 699.6 m 508.5 699.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 699.6 m 562.5 699.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463.5 583.6 m 508.5 583.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463.5 583.6 m 508.5 583.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463.5 570.6 m 508.5 570.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463.5 568.6 m 508.5 568.6 l s BT /F2 9.00 Tf ET q 0 0 0 rg BT 197.00 704.05 Td (Valuation Methodology) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 351.60 704.05 Td (Amortization basis) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 477.30 713.05 Td (Fair) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 474.65 704.05 Td (Value) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 518.70 722.05 Td (Weighted) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 521.30 713.05 Td (Average) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 515.85 704.05 Td (Useful Life) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 690.06 Td (Customer relationships) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 174.00 690.06 Td (Multiple period excess earnings) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 320.00 690.06 Td (In line with underlying cash flows) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 466.00 690.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 484.75 690.06 Td (2,221) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 529.10 690.06 Td (15.0) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 667.06 Td (Software - income approach) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 174.00 667.06 Td (Multiple period excess earnings) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 320.00 676.06 Td (In line with underlying cash flows or) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 329.00 667.06 Td (straight line basis) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 491.50 667.06 Td (567) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 531.35 667.06 Td (6.4) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 653.06 Td (Software - cost approach) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 174.00 653.06 Td (Cost of reproduction) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 320.00 653.06 Td (Straight line basis) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 491.50 653.06 Td (108) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 531.35 653.06 Td (4.9) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 639.06 Td (Product) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 174.00 639.06 Td (Multiple period excess earnings) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 320.00 639.06 Td (In line with underlying cash flows) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 496.00 639.06 Td (42) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 529.10 639.06 Td (17.5) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 616.06 Td (IPR&D ) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 82.76 620.14 Td (\(i\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 174.00 625.06 Td (Multiple period excess earnings or) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 183.00 616.06 Td (cost of reproduction) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 320.00 616.06 Td (n/a) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 496.00 616.06 Td (39) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 531.50 616.06 Td (n/a) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 602.06 Td (Trade name) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 174.00 602.06 Td (Relief from royalty) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 320.00 602.06 Td (Straight line basis) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 484.75 602.06 Td (1,003) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 529.10 602.06 Td (25.0) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 588.06 Td (Favorable lease agreements) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 174.00 588.06 Td (Market approach) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 320.00 588.06 Td (Straight line basis) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 496.00 588.06 Td (11) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 531.35 588.06 Td (6.5) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 466.00 574.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 484.75 574.06 Td (3,991) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 558.10 Td (____________________) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 150.00 558.10 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 68.00 545.50 Td (\(i\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 545.50 Td (Represents software not yet placed in service. ) Tj ET Q q 0 0 0 rg BT 235.95 545.50 Td (As of the date of the Mer) Tj ET Q q 0 0 0 rg BT 316.22 545.50 Td (ger) Tj ET Q q 0 0 0 rg BT 326.12 545.50 Td (, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 330.12 545.50 Td ($39 million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 367.23 545.50 Td ( was not yet placed in service. Once placed into service, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 535.90 Td (each in-process research and development \(IPR&D\) software component will be reclassified into finite-lived software intangible assets and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 526.30 Td (amortized in line with underlying cash flows or on a straight line basis. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 315.29 526.30 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 505.30 Td (The purchase price allocation as of the date of acquisition was based on a valuation of the assets acquired and liabilities ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 493.30 Td (assumed in the acquisition. ) Tj ET Q q 0 0 0 rg BT 160.26 493.30 Td (All revisions to the purchase price allocation during the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.92 493.30 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.51 493.30 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.01 493.30 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.59 493.30 Td ( are reflected ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 481.30 Td (in our current consolidated financial statements, and the purchase price allocation is final. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.26 481.30 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 460.30 Td (The following pro forma financial information is unaudited and is intended to reflect the impact of the Mer) Tj ET Q q 0 0 0 rg BT 477.74 460.30 Td (ger on ) Tj ET Q q 0 0 0 rg BT 505.33 460.30 Td (W) Tj ET Q q 0 0 0 rg BT 514.37 460.30 Td (illis ) Tj ET Q q 0 0 0 rg BT 531.69 460.30 Td (T) Tj ET Q q 0 0 0 rg BT 537.10 460.30 Td (owers ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 448.30 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 448.30 Td (atson) Tj ET Q q 0 0 0 rg BT 82.52 448.30 Td (s consolidated financial statements as if the Mer) Tj ET Q q 0 0 0 rg BT 274.79 448.30 Td (ger had taken place on January 1, 2015 and presents the results of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 436.30 Td (operations of ) Tj ET Q q 0 0 0 rg BT 104.80 436.30 Td (W) Tj ET Q q 0 0 0 rg BT 113.84 436.30 Td (illis ) Tj ET Q q 0 0 0 rg BT 131.17 436.30 Td (T) Tj ET Q q 0 0 0 rg BT 136.58 436.30 Td (owers ) Tj ET Q q 0 0 0 rg BT 162.78 436.30 Td (W) Tj ET Q q 0 0 0 rg BT 171.42 436.30 Td (atson based on the historical financial statements of ) Tj ET Q q 0 0 0 rg BT 380.06 436.30 Td (W) Tj ET Q q 0 0 0 rg BT 389.10 436.30 Td (illis and ) Tj ET Q q 0 0 0 rg BT 423.36 436.30 Td (T) Tj ET Q q 0 0 0 rg BT 428.77 436.30 Td (owers ) Tj ET Q q 0 0 0 rg BT 454.98 436.30 Td (W) Tj ET Q q 0 0 0 rg BT 463.61 436.30 Td (atson after giving ef) Tj ET Q q 0 0 0 rg BT 543.68 436.30 Td (fect ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 424.30 Td (to the Mer) Tj ET Q q 0 0 0 rg BT 91.47 424.30 Td (ger and pro forma adjustments. Pro forma adjustments are included only to the extent they are \(i\) directly attributable ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 412.30 Td (to the Mer) Tj ET Q q 0 0 0 rg BT 91.47 412.30 Td (ger) Tj ET Q q 0 0 0 rg BT 103.84 412.30 Td (, \(ii\) factually supportable and \(iii\) with respect to the consolidated statement of operations, expected to have a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 400.30 Td (continuing impact on the combined results. ) Tj ET Q q 0 0 0 rg BT 225.06 400.30 Td (The accompanying unaudited pro forma financial information is presented for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 388.30 Td (illustrative purposes only and has not been adjusted to give ef) Tj ET Q q 0 0 0 rg BT 296.43 388.30 Td (fect to certain expected financial benefits of the Mer) Tj ET Q q 0 0 0 rg BT 505.59 388.30 Td (ger) Tj ET Q q 0 0 0 rg BT 517.96 388.30 Td (, such as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 376.30 Td (revenue syner) Tj ET Q q 0 0 0 rg BT 105.63 376.30 Td (gies, tax savings and cost syner) Tj ET Q q 0 0 0 rg BT 230.98 376.30 Td (gies, or the anticipated costs to achieve these benefits, including the cost of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 364.30 Td (integration activities. ) Tj ET Q q 0 0 0 rg BT 136.74 364.30 Td (The unaudited pro forma results are not indicative of what would have occurred had the Mer) Tj ET Q q 0 0 0 rg BT 506.70 364.30 Td (ger taken ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 352.30 Td (place on the indicated date.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 285.80 392.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 285.80 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 285.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 285.80 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 255.80 392.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 255.80 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 255.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 255.80 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 442.5 327.79999999999995 m 500.5 327.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500.5 327.79999999999995 m 504.5 327.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 327.79999999999995 m 562.5 327.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 299.79999999999995 m 500.5 299.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 299.79999999999995 m 562.5 299.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 285.79999999999995 m 500.5 285.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 285.79999999999995 m 562.5 285.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 285.79999999999995 m 500.5 285.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 285.79999999999995 m 562.5 285.79999999999995 l s BT /F2 9.00 Tf ET q 0 0 0 rg BT 451.30 332.25 Td (Years ended December 31,) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 511.95 318.25 Td (Pro Forma) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 448.20 304.25 Td (As reported) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 509.70 304.25 Td (\(Unaudited\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 462.00 290.25 Td (2016) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 524.00 290.25 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 275.47 Td (Total revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 275.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.15 275.47 Td (7,887) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 275.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 275.47 Td (7,492) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 260.47 Td (Net income attributable to Willis Towers Watson) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 260.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 260.47 Td (420) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 260.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 260.47 Td (640) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 245.47 Td (Diluted earnings per share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 245.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.15 245.47 Td (3.04) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 245.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 245.47 Td (4.64) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 220.30 Td (The above pro forma financial information for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 252.70 220.30 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.28 220.30 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.78 220.30 Td (December31, 2015) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 377.37 220.30 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.37 220.30 Td (does not include pro forma adjustments for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 208.30 Td (the Gras Savoye or other acquisitions as their revenues and results of operations were immaterial to the consolidated financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 196.30 Td (statements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 94.71 196.30 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 175.30 Td (Revenues attributable to ) Tj ET Q q 0 0 0 rg BT 149.51 175.30 Td (T) Tj ET Q q 0 0 0 rg BT 154.92 175.30 Td (owers ) Tj ET Q q 0 0 0 rg BT 181.12 175.30 Td (W) Tj ET Q q 0 0 0 rg BT 189.76 175.30 Td (atson for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.25 175.30 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 285.83 175.30 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.33 175.30 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 366.91 175.30 Td ( were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.34 175.30 Td ($3.6 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.46 175.30 Td (. Net income attributable to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 163.30 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 163.30 Td (owers ) Tj ET Q q 0 0 0 rg BT 81.61 163.30 Td (W) Tj ET Q q 0 0 0 rg BT 90.25 163.30 Td (atson for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.73 163.30 Td (year ended December 31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 267.40 163.30 Td ( was) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 285.45 163.30 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.95 163.30 Td ($1) Tj ET Q q 0 0 0 rg BT 297.58 163.30 Td (1) Tj ET Q q 0 0 0 rg BT 302.21 163.30 Td (1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.60 163.30 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.10 163.30 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 142.30 Td (Acquir) Tj ET Q q 0 0 0 rg BT 76.85 142.30 Td (ed Shar) Tj ET Q q 0 0 0 rg BT 107.30 142.30 Td (e-Based Compensation Plans) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 225.07 142.30 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 121.30 Td (In connection with our Mer) Tj ET Q q 0 0 0 rg BT 159.79 121.30 Td (ger with ) Tj ET Q q 0 0 0 rg BT 195.16 121.30 Td (T) Tj ET Q q 0 0 0 rg BT 200.57 121.30 Td (owers ) Tj ET Q q 0 0 0 rg BT 226.77 121.30 Td (W) Tj ET Q q 0 0 0 rg BT 235.41 121.30 Td (atson on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 271.51 121.30 Td (January 4, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.11 121.30 Td (, we assumed certain stock options and restricted stock ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 109.30 Td (units \(RSU\) issued under the ) Tj ET Q q 0 0 0 rg BT 174.53 109.30 Td (T) Tj ET Q q 0 0 0 rg BT 179.94 109.30 Td (owers ) Tj ET Q q 0 0 0 rg BT 206.14 109.30 Td (W) Tj ET Q q 0 0 0 rg BT 214.78 109.30 Td (atson & Co. 2009 Long ) Tj ET Q q 0 0 0 rg BT 311.26 109.30 Td (T) Tj ET Q q 0 0 0 rg BT 316.67 109.30 Td (erm Incentive Plan \(L) Tj ET Q q 0 0 0 rg BT 406.55 109.30 Td (TIP\), the Liazon Corporation 201) Tj ET Q q 0 0 0 rg BT 543.64 109.30 Td (1 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 97.30 Td (Equity Incentive Plan, and the Extend Health, Inc. 2007 Equity Incentive Plan.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.20 97.30 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 76.30 Td (Stock Options.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.33 76.30 Td ( ) Tj ET Q q 0 0 0 rg BT 110.64 76.30 Td (The outstanding unvested employee stock options were converted into ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.74 76.30 Td (592,486) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.24 76.30 Td ( ) Tj ET Q q 0 0 0 rg BT 429.56 76.30 Td (W) Tj ET Q q 0 0 0 rg BT 438.60 76.30 Td (illis ) Tj ET Q q 0 0 0 rg BT 455.92 76.30 Td (T) Tj ET Q q 0 0 0 rg BT 461.33 76.30 Td (owers ) Tj ET Q q 0 0 0 rg BT 487.53 76.30 Td (W) Tj ET Q q 0 0 0 rg BT 496.17 76.30 Td (atson stock ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 64.30 Td (options using the conversion ratios stated in the Mer) Tj ET Q q 0 0 0 rg BT 259.23 64.30 Td (ger agreement for the number of options. ) Tj ET Q q 0 0 0 rg BT 425.66 64.30 Td (The fair value of the stock ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 52.30 Td (options was calculated using the Black-Scholes model with a volatility and risk-free interest rate over the expected term of each ) Tj ET Q endstream endobj 183 0 obj <> endobj 184 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (91) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (group of options and the ) Tj ET Q q 0 0 0 rg BT 150.08 742.10 Td (W) Tj ET Q q 0 0 0 rg BT 159.12 742.10 Td (illis ) Tj ET Q q 0 0 0 rg BT 176.45 742.10 Td (T) Tj ET Q q 0 0 0 rg BT 181.86 742.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 208.06 742.10 Td (W) Tj ET Q q 0 0 0 rg BT 216.69 742.10 Td (atson) Tj ET Q q 0 0 0 rg BT 240.58 742.10 Td (s closing share price on the date of acquisition. ) Tj ET Q q 0 0 0 rg BT 430.35 742.10 Td (W) Tj ET Q q 0 0 0 rg BT 438.98 742.10 Td (e determined the fair value of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (the portion of the outstanding options related to pre-acquisition employee service using the straight-line expense methodology ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (from the date of grant to the acquisition date to be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 252.44 718.10 Td ($7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.83 718.10 Td (, which was added to the transaction consideration. ) Tj ET Q q 0 0 0 rg BT 500.25 718.10 Td (The fair value ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (of the remaining portion of options related to the post-acquisition employee services was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.96 706.10 Td ($13 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.36 706.10 Td (, and will be recorded over ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (the future vesting periods. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 156.92 694.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 673.10 Td (Restricted Stock Units.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 141.37 673.10 Td ( ) Tj ET Q q 0 0 0 rg BT 143.69 673.10 Td (The outstanding unvested restricted stock units were converted into ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.11 673.10 Td (597,307) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.61 673.10 Td ( ) Tj ET Q q 0 0 0 rg BT 450.93 673.10 Td (W) Tj ET Q q 0 0 0 rg BT 459.97 673.10 Td (illis ) Tj ET Q q 0 0 0 rg BT 477.29 673.10 Td (T) Tj ET Q q 0 0 0 rg BT 482.71 673.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 508.91 673.10 Td (W) Tj ET Q q 0 0 0 rg BT 517.54 673.10 Td (atson ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 661.10 Td (restricted stock units using the conversion ratios stated in the Mer) Tj ET Q q 0 0 0 rg BT 312.54 661.10 Td (ger agreement. ) Tj ET Q q 0 0 0 rg BT 374.27 661.10 Td (The fair value of these restricted stock units ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 649.10 Td (was calculated using ) Tj ET Q q 0 0 0 rg BT 135.07 649.10 Td (W) Tj ET Q q 0 0 0 rg BT 144.11 649.10 Td (illis ) Tj ET Q q 0 0 0 rg BT 161.43 649.10 Td (T) Tj ET Q q 0 0 0 rg BT 166.84 649.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 193.04 649.10 Td (W) Tj ET Q q 0 0 0 rg BT 201.68 649.10 Td (atson) Tj ET Q q 0 0 0 rg BT 225.57 649.10 Td (s closing share price on the date of acquisition. ) Tj ET Q q 0 0 0 rg BT 415.33 649.10 Td (W) Tj ET Q q 0 0 0 rg BT 423.97 649.10 Td (e determined the fair value of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 637.10 Td (portion of the outstanding RSUs related to pre-acquisition employee service using the straight-line expense methodology from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 625.10 Td (the date of grant to the acquisition date to be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 230.50 625.10 Td ($30 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 276.89 625.10 Td ( which was added to the transaction consideration. ) Tj ET Q q 0 0 0 rg BT 480.82 625.10 Td (The fair value of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 613.10 Td (the remaining portion of RSUs related to the post-acquisition employee services was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.03 613.10 Td ($32 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.42 613.10 Td (, and will be recorded over the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 601.10 Td (future vesting periods.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 139.70 601.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 580.10 Td (Gras Savoye ) Tj ET Q q 0 0 0 rg BT 105.56 580.10 Td (Acquisition) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 559.10 Td (On December 29, 2015, Legacy ) Tj ET Q q 0 0 0 rg BT 180.05 559.10 Td (W) Tj ET Q q 0 0 0 rg BT 189.09 559.10 Td (illis completed the transaction to acquire substantially all of the remaining ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.17 559.10 Td (70%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.50 559.10 Td ( of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 547.10 Td (outstanding share capital of Gras Savoye, the leading insurance broker in France, for total consideration of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.75 547.10 Td (544 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.14 547.10 Td ( \() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.97 547.10 Td ($592 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 535.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.89 535.10 Td (\) of which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.49 535.10 Td ($582 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 173.88 535.10 Td ( in cash was paid at closing. ) Tj ET Q q 0 0 0 rg BT 290.25 535.10 Td (Additionally) Tj ET Q q 0 0 0 rg BT 340.15 535.10 Td (, the previously held equity interest in Gras Savoye ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 523.10 Td (was remeasured to a fair value of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 185.21 523.10 Td (221 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 236.61 523.10 Td ( \() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.44 523.10 Td ($241 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.83 523.10 Td (\) giving a total fair value on a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.90 523.10 Td (100%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.23 523.10 Td ( basis of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.06 523.10 Td (765 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.45 523.10 Td ( \() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.28 523.10 Td ($833 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 511.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.89 511.10 Td (\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 84.72 511.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td (The union combines the Company) Tj ET Q q 0 0 0 rg BT 190.53 490.10 Td (s global insurance broking footprint with Gras Savoye) Tj ET Q q 0 0 0 rg BT 410.21 490.10 Td (s particularly strong presence in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (France, Central and Eastern Europe, and across ) Tj ET Q q 0 0 0 rg BT 241.32 478.10 Td (Africa. Gras Savoye) Tj ET Q q 0 0 0 rg BT 325.45 478.10 Td (s expertise in high-growth markets and industry sectors ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.10 Td (complements the Company) Tj ET Q q 0 0 0 rg BT 162.20 466.10 Td (s global strengths, creating value for clients.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.82 466.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 445.10 Td (The Company funded the cash consideration with a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.28 445.10 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 263.28 445.10 Td (-year term loan. ) Tj ET Q q 0 0 0 rg BT 329.17 445.10 Td (The term loan was repaid in its entirety on May 26, 2016, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 433.10 Td (from the proceeds from the issuance of new senior notes discussed in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.37 433.10 Td (Note 10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.31 433.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.31 433.10 Td (Debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.75 433.10 Td ( to these consolidated financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 421.10 Td (statements. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.21 421.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 400.10 Td (Deferred consideration is payable on the first and second anniversary of the acquisition. ) Tj ET Q q 0 0 0 rg BT 403.59 400.10 Td (The discounted fair value of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 388.10 Td (deferred consideration at December 31, 2016 and 2015 was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 290.47 388.10 Td ($4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.86 388.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.30 388.10 Td ($10 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.69 388.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 450.35 388.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.35 388.10 Td (None) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.01 388.10 Td ( of the goodwill ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 376.10 Td (recognized on the transaction is tax deductible. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.99 376.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 355.10 Td (The following table presents the Company) Tj ET Q q 0 0 0 rg BT 223.02 355.10 Td (s allocation of the purchase price to the assets acquired and liabilities assumed based ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 343.10 Td (on their fair values:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 318.60 439.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 318.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 288.60 439.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 288.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 258.60 439.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 258.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 228.60 439.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 228.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 198.60 439.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 198.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 168.60 439.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 168.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 138.60 439.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 138.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 108.60 439.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 108.60 73.00 -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 489.5 318.6 m 562.5 318.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 489.5 153.60000000000002 m 562.5 153.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 489.5 138.60000000000002 m 562.5 138.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 108.60000000000002 m 562.5 108.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 108.60000000000002 m 562.5 108.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 94.60000000000002 m 562.5 94.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 92.60000000000002 m 562.5 92.60000000000002 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 493.25 322.83 Td (December 29, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 308.27 Td (Cash and cash equivalents) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.00 308.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 308.27 Td (87) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 293.27 Td (Fiduciary assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 293.27 Td (625) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 278.27 Td (Accounts receivable, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 278.27 Td (89) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 263.27 Td (Goodwill) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 263.27 Td (584) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 248.27 Td (Intangible assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 248.27 Td (440) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 233.27 Td (Other assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 233.27 Td (56) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 218.27 Td (Fiduciary liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 218.32 Td (\(625) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 218.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 203.27 Td (Deferred revenue and accrued expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 203.32 Td (\(80) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 203.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 188.27 Td (Short and long-term debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 188.32 Td (\(80) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 188.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 173.27 Td (Net deferred tax liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 173.32 Td (\(87) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 173.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 158.27 Td (Other liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 158.32 Td (\(179) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 158.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 143.27 Td (Net assets acquired) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 143.27 Td (830) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 128.27 Td (Decrease in paid in capital for purchase of noncontrolling interest) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 128.27 Td (43) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 113.27 Td (Noncontrolling interest acquired) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 113.32 Td (\(40) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 113.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 98.27 Td (Purchase price allocation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.00 98.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 98.27 Td (833) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 185 0 obj <> endobj 186 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (92) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (The purchase price allocation as of the date of acquisition was based on a valuation and was subject to revision within the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (purchase price allocation period as more detailed analysis was completed and additional information about the value of assets ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (acquired and liabilities assumed became available. During the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.19 718.10 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.77 718.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.27 718.10 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.85 718.10 Td (, the assessment outlined above ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (was updated to reflect the final estimates of the fair value of assets and liabilities acquired. ) Tj ET Q q 0 0 0 rg BT 414.41 706.10 Td (The purchase price allocation is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (final.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.83 694.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 673.10 Td (The acquired intangible assets are attributable to the following categories:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 630.60 122.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 172.50 630.60 132.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 304.50 630.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 308.50 630.60 132.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.50 630.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 444.50 630.60 57.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 630.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 630.60 57.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 602.60 122.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 172.50 602.60 132.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 304.50 602.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 308.50 602.60 132.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.50 602.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 444.50 602.60 57.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 602.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 602.60 57.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 172.5 630.6 m 304.5 630.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 308.5 630.6 m 440.5 630.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 444.5 630.6 m 501.5 630.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 630.6 m 562.5 630.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 172.5 630.6 m 304.5 630.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 444.5 630.6 m 501.5 630.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 630.6 m 562.5 630.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 444.5 588.6 m 501.5 588.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 444.5 588.6 m 501.5 588.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 444.5 575.6 m 501.5 575.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 444.5 573.6 m 501.5 573.6 l s BT /F2 9.00 Tf ET q 0 0 0 rg BT 193.50 635.05 Td (Valuation methodology) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 337.60 635.05 Td (Amortization basis) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 452.45 635.05 Td (Fair Value) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 515.20 653.05 Td (Weighted) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 517.80 644.05 Td (Average) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 512.35 635.05 Td (Useful Life) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 621.06 Td (Customer relationships) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 175.00 621.06 Td (Multiple period excess earnings) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 311.00 621.06 Td (In line with underlying cash flows) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 447.00 621.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 484.50 621.06 Td (339) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 529.00 621.06 Td (20) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 607.06 Td (Software and other intangibles) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 175.00 607.06 Td (Cost of reproduction) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 311.00 607.06 Td (Straight line basis) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 489.00 607.06 Td (66) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 531.25 607.06 Td (5) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 593.06 Td (Trade name) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 175.00 593.06 Td (Relief from royalty) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 311.00 593.06 Td (Straight line basis) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 489.00 593.06 Td (35) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 529.00 593.06 Td (14) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 447.00 579.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 484.50 579.06 Td (440) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 554.10 Td (Miller) Tj ET Q q 0 0 0 rg BT 76.47 554.10 Td ( Insurance Services LLP) Tj ET Q q 0 0 0 rg BT 180.63 554.10 Td ( ) Tj ET Q q 0 0 0 rg BT 182.58 554.10 Td (Acquisition) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 533.10 Td (On May 31, 2015, Legacy ) Tj ET Q q 0 0 0 rg BT 157.29 533.10 Td (W) Tj ET Q q 0 0 0 rg BT 166.33 533.10 Td (illis completed the transaction to acquire an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.22 533.10 Td (85) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.22 533.10 Td ( percent interest in Miller) Tj ET Q q 0 0 0 rg BT 454.45 533.10 Td (, a leading London ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 521.10 Td (wholesale specialist insurance broking firm, for total consideration of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.47 521.10 Td ($401 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.87 521.10 Td ( including cash consideration of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.11 521.10 Td ($232 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 509.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.89 509.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 488.10 Td (Deferred consideration is payable at the first, second and third anniversaries of the acquisition. Contingent consideration is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 476.10 Td (payable at the third anniversary of the acquisition and is contingent on meeting certain earnings before interest, taxes, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 464.10 Td (depreciation and amortization \(EBITDA) Tj ET Q q 0 0 0 rg BT 214.11 464.10 Td (\) performance tar) Tj ET Q q 0 0 0 rg BT 286.66 464.10 Td (gets. ) Tj ET Q q 0 0 0 rg BT 307.21 464.10 Td (At December 31, 2015, the discounted fair value of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 452.10 Td (deferred and contingent considerations, based on best estimates, at acquisition were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.84 452.10 Td ($124 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.23 452.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.67 452.10 Td ($29 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.06 452.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 556.72 452.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 440.10 Td (At December 31, 2016, the discounted fair values of the deferred consideration, related to the second and third anniversaries, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 428.10 Td (and contingent consideration were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 189.95 428.10 Td ($69 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 236.34 428.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 255.78 428.10 Td ($26 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.17 428.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 354.83 428.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.33 428.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 407.10 Td (The Company recognized assets and liabilities acquired of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.04 407.10 Td ($1.1 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.15 407.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.59 407.10 Td ($844 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.98 407.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 455.64 407.10 Td (. Included within the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 395.10 Td (acquired assets are identifiable intangible assets of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.65 395.10 Td ($231 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.04 395.10 Td ( and goodwill of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.37 395.10 Td ($184 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.76 395.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.26 395.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 374.10 Td (The purchase price allocation as of the date of acquisition was based on a valuation of the assets acquired, liabilities assumed, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 362.10 Td (and contingent consideration associated with the acquisition. ) Tj ET Q q 0 0 0 rg BT 295.31 362.10 Td (There have been no material revisions to the purchase price ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 350.10 Td (allocation during the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.25 350.10 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 178.84 350.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 181.34 350.10 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.92 350.10 Td ( and the purchase price allocation is final. ) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 329.10 Td (Note 4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 77.49 329.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 92.49 329.10 Td (Segment Information) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 183.87 329.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 308.10 Td (During the second quarter of 2016, we began managing our business across four integrated reportable operating segments. ) Tj ET Q q 0 0 0 rg BT 543.75 308.10 Td (As a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 296.10 Td (result, the Company has changed the way it manages and reports segment revenues and segment operating income, resulting in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 284.10 Td (a change in the Company) Tj ET Q q 0 0 0 rg BT 154.41 284.10 Td (s reportable segments from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 265.49 284.10 Td (eight) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 285.49 284.10 Td ( reportable segments, formerly known as ) Tj ET Q q 0 0 0 rg BT 451.09 284.10 Td (W) Tj ET Q q 0 0 0 rg BT 460.13 284.10 Td (illis International; ) Tj ET Q q 0 0 0 rg BT 533.82 284.10 Td (W) Tj ET Q q 0 0 0 rg BT 542.86 284.10 Td (illis ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 272.10 Td (North ) Tj ET Q q 0 0 0 rg BT 75.28 272.10 Td (America; ) Tj ET Q q 0 0 0 rg BT 114.80 272.10 Td (W) Tj ET Q q 0 0 0 rg BT 123.84 272.10 Td (illis Capital, ) Tj ET Q q 0 0 0 rg BT 175.04 272.10 Td (Wholesale & Reinsurance; ) Tj ET Q q 0 0 0 rg BT 284.55 272.10 Td (W) Tj ET Q q 0 0 0 rg BT 293.58 272.10 Td (illis GB; ) Tj ET Q q 0 0 0 rg BT 330.08 272.10 Td (T) Tj ET Q q 0 0 0 rg BT 335.49 272.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 361.69 272.10 Td (W) Tj ET Q q 0 0 0 rg BT 370.33 272.10 Td (atson Benefits; ) Tj ET Q q 0 0 0 rg BT 432.36 272.10 Td (T) Tj ET Q q 0 0 0 rg BT 437.77 272.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 463.97 272.10 Td (W) Tj ET Q q 0 0 0 rg BT 472.61 272.10 Td (atson Exchange ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 260.10 Td (Solutions; ) Tj ET Q q 0 0 0 rg BT 92.89 260.10 Td (T) Tj ET Q q 0 0 0 rg BT 98.30 260.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 124.50 260.10 Td (W) Tj ET Q q 0 0 0 rg BT 133.13 260.10 Td (atson Risk and Financial Services; and ) Tj ET Q q 0 0 0 rg BT 290.15 260.10 Td (T) Tj ET Q q 0 0 0 rg BT 295.56 260.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 321.76 260.10 Td (W) Tj ET Q q 0 0 0 rg BT 330.40 260.10 Td (atson ) Tj ET Q q 0 0 0 rg BT 353.82 260.10 Td (T) Tj ET Q q 0 0 0 rg BT 359.23 260.10 Td (alent and Rewards, into ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 260.10 Td (four) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.81 260.10 Td ( reportable segments: ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 248.10 Td (Human Capital and Benefits; Corporate Risk and Broking; Investment, Risk and Reinsurance; and Exchange Solutions. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.75 248.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 227.10 Td (The prior period comparatives have been retroactively reclassified for our segment reor) Tj ET Q q 0 0 0 rg BT 399.39 227.10 Td (ganization.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.54 227.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 206.10 Td (W) Tj ET Q q 0 0 0 rg BT 59.04 206.10 Td (illis ) Tj ET Q q 0 0 0 rg BT 76.36 206.10 Td (T) Tj ET Q q 0 0 0 rg BT 81.77 206.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 107.97 206.10 Td (W) Tj ET Q q 0 0 0 rg BT 116.61 206.10 Td (atson) Tj ET Q q 0 0 0 rg BT 140.50 206.10 Td (s chief operating decision maker is the chief executive of) Tj ET Q q 0 0 0 rg BT 368.28 206.10 Td (ficer) Tj ET Q q 0 0 0 rg BT 386.04 206.10 Td (. ) Tj ET Q q 0 0 0 rg BT 390.86 206.10 Td (W) Tj ET Q q 0 0 0 rg BT 399.50 206.10 Td (e determined that the operational data ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 194.10 Td (used by the chief operating decision maker is at the segment level. Management bases strategic goals and decisions on these ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 182.10 Td (segments and the data presented below is used to assess the adequacy of strategic decisions, the method of achieving these ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 170.10 Td (strategies and related financial results.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 202.99 170.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 149.10 Td (Management evaluates the performance of its segments and allocates resources to them based on net operating income on a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 137.10 Td (pre-bonus, pre-tax basis. Consolidated U.S. GAAP) Tj ET Q q 0 0 0 rg BT 253.22 137.10 Td ( revenues include amounts that were directly incurred on behalf of our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 125.10 Td (clients and reimbursed by them \(reimbursable expenses\). ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 280.48 125.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 104.10 Td (See ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.94 104.10 Td (Item 1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 92.76 104.10 Td ( within this ) Tj ET Q q 0 0 0 rg BT 139.72 104.10 Td (Annual Report on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 213.87 104.10 Td (Form 10-K) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.59 104.10 Td ( for complete descriptions of our segments. ) Tj ET Q q 0 0 0 rg BT 433.55 104.10 Td (A) Tj ET Q q 0 0 0 rg BT 440.22 104.10 Td ( brief description of our new ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 92.10 Td (segments are as follows: ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 150.53 92.10 Td ( ) Tj ET Q endstream endobj 187 0 obj <> endobj 188 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (93) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (Human Capital and Benefits) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 171.96 742.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 721.25 Td (The Human Capital & Benefits \(HCB\) segment provides an array of advice, broking, solutions and software for our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 709.25 Td (clients. HCB is the lar) Tj ET Q q 0 0 0 rg BT 156.42 709.25 Td (gest segment of the Company) Tj ET Q q 0 0 0 rg BT 274.64 709.25 Td (. ) Tj ET Q q 0 0 0 rg BT 279.46 709.25 Td (The segment is focused on addressing our clients) Tj ET Q q 0 0 0 rg BT 478.39 709.25 Td ( employee and risk ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 697.25 Td (needs so that they can deliver sustainable employee experiences. ) Tj ET Q q 0 0 0 rg BT 328.83 697.25 Td (This segment also delivers full outsourcing solutions to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 685.25 Td (employers outside of the United States.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.19 685.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 664.25 Td (Corporate Risk and Br) Tj ET Q q 0 0 0 rg BT 148.43 664.25 Td (oking) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 172.33 664.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 643.25 Td (The Corporate Risk and Broking \(CRB\) segment provides a broad range of risk advice, insurance broking and consulting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 631.25 Td (services to clients worldwide ranging from small businesses to multinational corporations. ) Tj ET Q q 0 0 0 rg BT 431.64 631.25 Td (The segment delivers ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 619.25 Td (innovative, integrated global solutions tailored to client needs and underpinned by data and analytics. CRB operates as an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 607.25 Td (integrated global team comprising both functional and geographic leadership. In these operations, we have extensive ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 595.25 Td (specialized experience handling diverse lines of coverage, including complex insurance programs. ) Tj ET Q q 0 0 0 rg BT 463.13 595.25 Td (A) Tj ET Q q 0 0 0 rg BT 469.80 595.25 Td ( key objective is to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 583.25 Td (assist clients in reducing their overall cost of risk.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 266.56 583.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 562.25 Td (Investment, Risk and Reinsuranc) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 192.24 562.25 Td (e) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 541.25 Td (The Investment, Risk and Reinsurance \(IRR\) segment uses a sophisticated approach to risk which helps clients free up ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 529.25 Td (capital and manage investment complexity) Tj ET Q q 0 0 0 rg BT 238.41 529.25 Td (. ) Tj ET Q q 0 0 0 rg BT 243.22 529.25 Td (The segment works closely with investors, reinsurers and insurers to manage ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 517.25 Td (the equation between risk and return. Blending advanced analytics with deep institutional knowledge, IRR identifies new ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 505.25 Td (opportunities to maximize performance. IRR provides investment consulting services and insurance specific services and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 493.25 Td (solutions through reserves opinions, software, ratemaking, usage-based insurance, risk underwriting, and reinsurance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 481.25 Td (broking. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.11 481.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 460.25 Td (Exchange Solutions) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 133.63 460.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 439.25 Td (The Exchange Solutions \(ES\) segment provides primary medical and ancillary benefit exchange and outsourcing services ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 427.25 Td (to active employees and retirees across both the group and individual markets. ES services individual populations via its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 415.25 Td (group to individual) Tj ET Q q 0 0 0 rg BT 150.58 415.25 Td ( technology platform, which tightly integrates patented call routing technology) Tj ET Q q 0 0 0 rg BT 464.85 415.25 Td (, an ef) Tj ET Q q 0 0 0 rg BT 489.37 415.25 Td (ficient quoting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 403.25 Td (and enrollment engine, a custom-developed Customer Relationship Management system and comprehensive insurance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 391.25 Td (carrier connectivity) Tj ET Q q 0 0 0 rg BT 145.36 391.25 Td (. ) Tj ET Q q 0 0 0 rg BT 150.18 391.25 Td (This segment also delivers group benefit exchanges and full outsourcing solutions serving the active ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 379.25 Td (employees of employers across the United States. ES uses Software as a Service \(SaaS\)-based technology and related ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 367.25 Td (services to deliver consumer) Tj ET Q q 0 0 0 rg BT 181.93 367.25 Td (-driven healthcare and reimbursement accounts, including health savings accounts, health ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 355.25 Td (reimbursement arrangements, flexible spending accounts and other consumer) Tj ET Q q 0 0 0 rg BT 377.14 355.25 Td (-directed accounts.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.66 355.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.25 Td (Under the new segment structure and for internal and segment reporting, ) Tj ET Q q 0 0 0 rg BT 343.06 334.25 Td (W) Tj ET Q q 0 0 0 rg BT 352.09 334.25 Td (illis ) Tj ET Q q 0 0 0 rg BT 369.42 334.25 Td (T) Tj ET Q q 0 0 0 rg BT 374.83 334.25 Td (owers ) Tj ET Q q 0 0 0 rg BT 401.03 334.25 Td (W) Tj ET Q q 0 0 0 rg BT 409.67 334.25 Td (atson segment revenues include ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.25 Td (commissions and fees, interest and other income. U.S. GAAP) Tj ET Q q 0 0 0 rg BT 296.25 322.25 Td ( revenues include amounts that were directly incurred on behalf of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.25 Td (our clients and reimbursed by them \(reimbursable expenses\), which are removed from segment revenues. Segment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.25 Td (commissions and fees excludes interest and other income. Segment operating income excludes certain costs, including \(i\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.25 Td (amortization of intangibles; \(ii\) restructuring costs; \(iii\) certain transaction and integration expenses; \(iv\) certain litigation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.25 Td (provisions; and \(v\) to the extent that the actual expense based upon which allocations are made dif) Tj ET Q q 0 0 0 rg BT 443.58 274.25 Td (fers from the forecast/budget ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.25 Td (amount, a reconciling item will be created between internally allocated expenses and the actual expense that we report for U.S. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.25 Td (GAAP) Tj ET Q q 0 0 0 rg BT 76.86 250.25 Td ( purposes. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 119.91 250.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 229.25 Td (Segment revenues and operating income both include revenue that was deferred by ) Tj ET Q q 0 0 0 rg BT 384.70 229.25 Td (T) Tj ET Q q 0 0 0 rg BT 390.11 229.25 Td (owers ) Tj ET Q q 0 0 0 rg BT 416.31 229.25 Td (W) Tj ET Q q 0 0 0 rg BT 424.95 229.25 Td (atson at the time of the Mer) Tj ET Q q 0 0 0 rg BT 535.29 229.25 Td (ger) Tj ET Q q 0 0 0 rg BT 547.66 229.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 217.25 Td (and eliminated due to purchase accounting. ) Tj ET Q q 0 0 0 rg BT 225.59 217.25 Td (The impact of the elimination from purchase accounting \(which is the reduction to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 205.25 Td (2016 consolidated revenues and operating income\) has been included in the reconciliation to our consolidated results in order ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 193.25 Td (to provide the actual revenues that the segments would have recognized on an unadjusted basis. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.88 193.25 Td ( ) Tj ET Q endstream endobj 189 0 obj <> endobj 190 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (94) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (The table below presents segment commissions and fees, segment interest and other income, segment revenues, and segment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (operating income for our reportable segments for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 263.81 730.10 Td (years ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.29 730.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.79 730.10 Td (December 31, 2016, 2015, and 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.31 730.10 Td (, respectively:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 680.60 78.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 128.50 680.60 28.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 156.50 680.60 28.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 184.50 680.60 28.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 212.50 680.60 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 216.50 680.60 28.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 244.50 680.60 28.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 272.50 680.60 28.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 300.50 680.60 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 304.50 680.60 28.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 332.50 680.60 28.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 360.50 680.60 28.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.50 680.60 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 392.50 680.60 28.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 680.60 28.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.50 680.60 28.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.50 680.60 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.50 680.60 28.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.50 680.60 28.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 536.50 680.60 28.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 638.60 78.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 128.50 638.60 28.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 156.50 638.60 28.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 184.50 638.60 28.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 212.50 638.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 216.50 638.60 28.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 244.50 638.60 28.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 272.50 638.60 28.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 300.50 638.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 304.50 638.60 28.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 332.50 638.60 28.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 360.50 638.60 28.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.50 638.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 392.50 638.60 28.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 638.60 28.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.50 638.60 28.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.50 638.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.50 638.60 28.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.50 638.60 28.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 536.50 638.60 28.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 611.60 78.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 128.50 611.60 28.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 156.50 611.60 28.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 184.50 611.60 28.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 212.50 611.60 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 216.50 611.60 28.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 244.50 611.60 28.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 272.50 611.60 28.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 300.50 611.60 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 304.50 611.60 28.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 332.50 611.60 28.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 360.50 611.60 28.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.50 611.60 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 392.50 611.60 28.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 611.60 28.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.50 611.60 28.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.50 611.60 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.50 611.60 28.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.50 611.60 28.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 536.50 611.60 28.00 -21.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 128.5 706.6 m 156.5 706.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 156.5 706.6 m 184.5 706.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 184.5 706.6 m 212.5 706.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 212.5 706.6 m 216.5 706.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 216.5 706.6 m 244.5 706.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 244.5 706.6 m 272.5 706.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272.5 706.6 m 300.5 706.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 300.5 706.6 m 304.5 706.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 706.6 m 332.5 706.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 332.5 706.6 m 360.5 706.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360.5 706.6 m 388.5 706.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 706.6 m 392.5 706.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 706.6 m 420.5 706.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 706.6 m 448.5 706.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448.5 706.6 m 476.5 706.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 476.5 706.6 m 480.5 706.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 706.6 m 508.5 706.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508.5 706.6 m 536.5 706.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 536.5 706.6 m 564.5 706.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 128.5 693.6 m 156.5 693.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 156.5 693.6 m 184.5 693.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 184.5 693.6 m 212.5 693.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 216.5 693.6 m 244.5 693.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 244.5 693.6 m 272.5 693.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272.5 693.6 m 300.5 693.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 693.6 m 332.5 693.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 332.5 693.6 m 360.5 693.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360.5 693.6 m 388.5 693.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 693.6 m 420.5 693.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 693.6 m 448.5 693.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448.5 693.6 m 476.5 693.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 693.6 m 508.5 693.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508.5 693.6 m 536.5 693.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 536.5 693.6 m 564.5 693.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 128.5 680.6 m 156.5 680.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 156.5 680.6 m 184.5 680.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 184.5 693.6 m 212.5 693.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 184.5 680.6 m 212.5 680.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 216.5 680.6 m 244.5 680.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 244.5 680.6 m 272.5 680.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272.5 693.6 m 300.5 693.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272.5 680.6 m 300.5 680.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 680.6 m 332.5 680.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 332.5 680.6 m 360.5 680.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360.5 693.6 m 388.5 693.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360.5 680.6 m 388.5 680.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 680.6 m 420.5 680.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 680.6 m 448.5 680.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448.5 693.6 m 476.5 693.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448.5 680.6 m 476.5 680.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 680.6 m 508.5 680.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508.5 680.6 m 536.5 680.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 536.5 693.6 m 564.5 693.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 536.5 680.6 m 564.5 680.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 128.5 680.6 m 156.5 680.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 184.5 680.6 m 212.5 680.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272.5 680.6 m 300.5 680.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360.5 680.6 m 388.5 680.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448.5 680.6 m 476.5 680.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 536.5 680.6 m 564.5 680.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 128.5 638.6 m 156.5 638.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 156.5 638.6 m 184.5 638.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 184.5 638.6 m 212.5 638.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 216.5 638.6 m 244.5 638.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 244.5 638.6 m 272.5 638.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272.5 638.6 m 300.5 638.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 638.6 m 332.5 638.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 332.5 638.6 m 360.5 638.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360.5 638.6 m 388.5 638.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 638.6 m 420.5 638.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 638.6 m 448.5 638.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448.5 638.6 m 476.5 638.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 638.6 m 508.5 638.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508.5 638.6 m 536.5 638.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 536.5 638.6 m 564.5 638.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 128.5 626.6 m 156.5 626.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 128.5 624.6 m 156.5 624.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 156.5 626.6 m 184.5 626.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 156.5 624.6 m 184.5 624.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 184.5 626.6 m 212.5 626.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 184.5 624.6 m 212.5 624.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 216.5 626.6 m 244.5 626.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 216.5 624.6 m 244.5 624.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 244.5 626.6 m 272.5 626.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 244.5 624.6 m 272.5 624.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272.5 626.6 m 300.5 626.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272.5 624.6 m 300.5 624.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 626.6 m 332.5 626.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 624.6 m 332.5 624.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 332.5 626.6 m 360.5 626.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 332.5 624.6 m 360.5 624.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360.5 626.6 m 388.5 626.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360.5 624.6 m 388.5 624.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 626.6 m 420.5 626.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 624.6 m 420.5 624.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 626.6 m 448.5 626.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 624.6 m 448.5 624.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448.5 626.6 m 476.5 626.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448.5 624.6 m 476.5 624.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 626.6 m 508.5 626.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 624.6 m 508.5 624.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508.5 626.6 m 536.5 626.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508.5 624.6 m 536.5 624.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 536.5 626.6 m 564.5 626.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 536.5 624.6 m 564.5 624.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 128.5 591.6 m 156.5 591.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 128.5 589.6 m 156.5 589.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 156.5 591.6 m 184.5 591.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 156.5 589.6 m 184.5 589.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 184.5 591.6 m 212.5 591.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 184.5 589.6 m 212.5 589.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 216.5 591.6 m 244.5 591.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 216.5 589.6 m 244.5 589.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 244.5 591.6 m 272.5 591.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 244.5 589.6 m 272.5 589.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272.5 591.6 m 300.5 591.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272.5 589.6 m 300.5 589.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 591.6 m 332.5 591.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 589.6 m 332.5 589.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 332.5 591.6 m 360.5 591.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 332.5 589.6 m 360.5 589.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360.5 591.6 m 388.5 591.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360.5 589.6 m 388.5 589.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 591.6 m 420.5 591.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 589.6 m 420.5 589.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 591.6 m 448.5 591.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 589.6 m 448.5 589.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448.5 591.6 m 476.5 591.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448.5 589.6 m 476.5 589.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 591.6 m 508.5 591.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 589.6 m 508.5 589.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508.5 591.6 m 536.5 591.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508.5 589.6 m 536.5 589.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 536.5 591.6 m 564.5 591.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 536.5 589.6 m 564.5 589.6 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 300.95 710.83 Td (Years ended December 31,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 161.30 697.83 Td (HCB) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 249.55 697.83 Td (CRB) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 338.65 697.83 Td (IRR) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 429.10 697.83 Td (ES) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 513.25 697.83 Td (Total) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 134.00 684.83 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 162.00 684.83 Td (2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 190.00 684.83 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 222.00 684.83 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 250.00 684.83 Td (2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 278.00 684.83 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 310.00 684.83 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 338.00 684.83 Td (2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 366.00 684.83 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 398.00 684.83 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 426.00 684.83 Td (2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 454.00 684.83 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 486.00 684.83 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 514.00 684.83 Td (2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 542.00 684.83 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 671.85 Td (Segment commissions) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 62.00 663.85 Td (and fees) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 131.00 663.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 135.30 663.85 Td (3,210) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 159.00 663.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 169.30 663.85 Td (697) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 187.00 663.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 197.30 663.85 Td (653) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 219.00 663.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 223.30 663.85 Td (2,502) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 247.00 663.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 251.30 663.85 Td (2,301) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 275.00 663.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 279.30 663.85 Td (2,365) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 307.00 663.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 311.30 663.85 Td (1,382) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 335.00 663.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 345.30 663.85 Td (812) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 363.00 663.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 373.30 663.85 Td (749) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 395.00 663.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 405.30 663.85 Td (652) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 423.00 663.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 437.30 663.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 451.00 663.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 465.30 663.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 483.00 663.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 487.30 663.85 Td (7,746) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 511.00 663.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 515.30 663.85 Td (3,810) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 539.00 663.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 543.30 663.85 Td (3,767) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 650.85 Td (Segment interest and) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 62.00 642.85 Td (other income) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 145.30 642.85 Td (16) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 177.30 642.85 Td (1) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 205.30 642.85 Td (2) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 233.30 642.85 Td (29) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 261.30 642.85 Td (17) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 289.30 642.85 Td (16) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 321.30 642.85 Td (59) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 353.30 642.85 Td (1) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 377.30 642.85 Td (17) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 413.30 642.85 Td (2) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 437.30 642.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 465.30 642.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 493.30 642.85 Td (106) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 525.30 642.85 Td (19) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 553.30 642.85 Td (35) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 629.85 Td (Segment revenues) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 131.00 629.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 135.30 629.85 Td (3,226) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 159.00 629.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 169.30 629.85 Td (698) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 187.00 629.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 197.30 629.85 Td (655) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 219.00 629.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 223.30 629.85 Td (2,531) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 247.00 629.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 251.30 629.85 Td (2,318) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 275.00 629.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 279.30 629.85 Td (2,381) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 307.00 629.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 311.30 629.85 Td (1,441) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 335.00 629.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 345.30 629.85 Td (813) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 363.00 629.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 373.30 629.85 Td (766) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 395.00 629.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 405.30 629.85 Td (654) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 423.00 629.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 437.30 629.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 451.00 629.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 465.30 629.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 483.00 629.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 487.30 629.85 Td (7,852) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 511.00 629.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 515.30 629.85 Td (3,829) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 539.00 629.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 543.30 629.85 Td (3,802) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 602.85 Td (Segment operating) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 62.00 594.85 Td (income) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 131.00 594.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 141.30 594.85 Td (680) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 159.00 594.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 169.30 594.85 Td (157) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 187.00 594.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 197.30 594.85 Td (144) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 219.00 594.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 229.30 594.85 Td (520) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 247.00 594.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 257.30 594.85 Td (491) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 275.00 594.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 285.30 594.85 Td (500) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 307.00 594.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 317.30 594.85 Td (306) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 335.00 594.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 345.30 594.85 Td (188) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 363.00 594.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 373.30 594.85 Td (228) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 395.00 594.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 405.30 594.85 Td (102) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 423.00 594.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 437.30 594.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 451.00 594.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 465.30 594.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 483.00 594.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 487.30 594.85 Td (1,608) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 511.00 594.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 521.30 594.85 Td (836) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 539.00 594.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 549.30 594.85 Td (872) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 570.10 Td (The table below presents a reconciliation of the information reported by segment to the consolidated amounts reported for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 558.10 Td (years ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.48 558.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.98 558.10 Td (December 31, 2016, 2015, and 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.50 558.10 Td (, respectively:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 521.60 330.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 521.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 521.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 521.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 521.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 521.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 491.60 330.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 491.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 491.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 491.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 491.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 491.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 461.60 330.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 461.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 461.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 461.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 461.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 461.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 431.60 330.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 431.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 431.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 431.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 431.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 431.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 401.60 330.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 401.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 401.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 401.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 401.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 401.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 371.60 330.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 371.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 371.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 371.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 371.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 371.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 341.60 330.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 341.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 341.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 341.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 341.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 341.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 311.60 330.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 311.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 311.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 311.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 311.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 311.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 281.60 330.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 281.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 281.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 281.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 281.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 281.60 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 380.5 534.6 m 438.5 534.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 534.6 m 442.5 534.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 534.6 m 500.5 534.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500.5 534.6 m 504.5 534.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 534.6 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 380.5 521.6 m 438.5 521.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 521.6 m 500.5 521.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 534.6 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 504.5 521.6 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 380.5 461.6 m 438.5 461.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 461.6 m 500.5 461.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 461.6 m 562.5 461.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 447.6 m 438.5 447.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 445.6 m 438.5 445.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 447.6 m 500.5 447.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 445.6 m 500.5 445.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 461.6 m 562.5 461.6 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 504.5 445.6 m 562.5 445.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 311.6 m 438.5 311.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 311.6 m 500.5 311.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 311.6 m 562.5 311.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 266.6 m 438.5 266.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 242.60000000000002 m 438.5 242.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 240.60000000000002 m 438.5 240.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 266.6 m 500.5 266.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 242.60000000000002 m 500.5 242.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 240.60000000000002 m 500.5 240.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 266.6 m 562.5 266.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 242.60000000000002 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 504.5 240.60000000000002 m 562.5 240.60000000000002 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 425.95 538.83 Td (Years ended December 31,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 401.00 525.83 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 463.00 525.83 Td (2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 525.00 525.83 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 511.27 Td (Revenues:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 496.27 Td (Total segment revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 496.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.15 496.27 Td (7,852) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 496.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.15 496.27 Td (3,829) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 496.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 496.27 Td (3,802) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 481.27 Td (Fair value adjustment to deferred revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.30 481.32 Td (\(58) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 481.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 481.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 481.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 466.27 Td (Reimbursable expenses and other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 466.27 Td (93) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 466.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 466.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 451.27 Td (Total revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 451.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.15 451.27 Td (7,887) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 451.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.15 451.27 Td (3,829) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 451.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 451.27 Td (3,802) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 421.27 Td (Total segment operating income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 421.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.15 421.27 Td (1,608) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 421.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 421.27 Td (836) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 421.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 421.27 Td (872) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 406.27 Td (Dif) Tj ET Q q 0 0 0 rg BT 84.15 406.27 Td (ferences in allocation methods ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 208.55 410.80 Td (\(i\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 406.27 Td (18) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.30 406.32 Td (\(65) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 406.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 406.32 Td (\(131) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 406.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 391.27 Td (Fair value adjustment for deferred revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.30 391.32 Td (\(58) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 391.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 391.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 391.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 376.27 Td (Amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.30 376.32 Td (\(591) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 376.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.30 376.32 Td (\(76) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 376.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 376.32 Td (\(54) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 376.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 361.27 Td (Restructuring costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.30 361.32 Td (\(193) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 361.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.30 361.32 Td (\(126) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 361.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 361.32 Td (\(36) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 361.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 346.27 Td (T) Tj ET Q q 0 0 0 rg BT 76.76 346.27 Td (ransaction and integration expenses ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 221.71 350.80 Td (\(ii\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.30 346.32 Td (\(177) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 346.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.30 346.32 Td (\(73) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 346.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 346.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 331.27 Td (Provision for the Stanford litigation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.30 331.32 Td (\(50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 331.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.30 331.32 Td (\(70) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 331.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 331.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 316.27 Td (Other, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.30 316.32 Td (\(6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 316.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.65 316.27 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 316.32 Td (\(4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 316.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 301.27 Td (Income from operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 301.27 Td (551) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 301.27 Td (427) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 301.27 Td (647) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 286.27 Td (Interest expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 286.27 Td (184) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 286.27 Td (142) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 286.27 Td (135) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 271.27 Td (Other expense/\(income\), net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 271.27 Td (27) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.30 271.32 Td (\(55) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 271.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 271.32 Td (\(6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 271.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 256.27 Td (Income from continuing operations before income taxes and interest in) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.00 246.27 Td (earnings of associates) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 246.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 246.27 Td (340) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 246.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 246.27 Td (340) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 246.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 246.27 Td (518) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 230.10 Td (____________________) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 150.00 230.10 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 62.45 211.50 Td (\(i\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 80.45 211.50 Td (Includes certain costs, primarily those related to corporate functions, leadership, projects, and certain dif) Tj ET Q q 0 0 0 rg BT 414.18 211.50 Td (ferences between budgeted expenses ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 80.45 201.90 Td (determined at the beginning of the fiscal year and actual expenses that we report for U.S. GAAP) Tj ET Q q 0 0 0 rg BT 388.50 201.90 Td ( purposes.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 420.94 201.90 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 62.45 183.30 Td (\(ii\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 80.45 183.30 Td (Includes transaction and integration expenses related to the Mer) Tj ET Q q 0 0 0 rg BT 284.68 183.30 Td (ger and the acquisition of Gras Savoye.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 410.64 183.30 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 162.30 Td (The Company does not currently provide asset information by reportable segment as it does not routinely evaluate the total ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 150.30 Td (asset position by segment.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 154.99 150.30 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 129.30 Td (None of the Company) Tj ET Q q 0 0 0 rg BT 141.37 129.30 Td (s customers represented a significant amount of the Company) Tj ET Q q 0 0 0 rg BT 390.75 129.30 Td (s consolidated commissions and fees for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 117.30 Td (the years ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.69 117.30 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 193.28 117.30 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 198.28 117.30 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 218.28 117.30 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 237.71 117.30 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 257.71 117.30 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 96.30 Td (Below are our revenues and long-lived assets by legal entity for Ireland, our country of domicile, countries with significant ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 84.30 Td (concentrations, and all other foreign countries for each of the years ended December 31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.41 84.30 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.41 84.30 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.41 84.30 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.41 84.30 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.84 84.30 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.84 84.30 Td (:) Tj ET Q endstream endobj 191 0 obj <> endobj 192 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (95) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 718.50 143.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 193.50 718.50 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 251.50 718.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 255.50 718.50 57.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 312.50 718.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.50 718.50 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.50 718.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.50 718.50 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.50 718.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.50 718.50 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 718.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 718.50 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 688.50 143.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 193.50 688.50 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 251.50 688.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 255.50 688.50 57.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 312.50 688.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.50 688.50 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.50 688.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.50 688.50 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.50 688.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.50 688.50 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 688.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 688.50 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 658.50 143.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 193.50 658.50 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 251.50 658.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 255.50 658.50 57.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 312.50 658.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.50 658.50 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.50 658.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.50 658.50 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.50 658.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.50 658.50 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 658.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 658.50 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 628.50 143.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 193.50 628.50 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 251.50 628.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 255.50 628.50 57.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 312.50 628.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.50 628.50 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.50 628.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.50 628.50 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.50 628.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.50 628.50 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 628.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 628.50 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 193.5 733.5 m 251.5 733.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 251.5 733.5 m 255.5 733.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 255.5 733.5 m 312.5 733.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 312.5 733.5 m 316.5 733.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316.5 733.5 m 374.5 733.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378.5 733.5 m 436.5 733.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436.5 733.5 m 440.5 733.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440.5 733.5 m 498.5 733.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 733.5 m 502.5 733.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 733.5 m 560.5 733.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 193.5 718.5 m 251.5 718.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 255.5 718.5 m 312.5 718.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316.5 718.5 m 374.5 718.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378.5 718.5 m 436.5 718.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440.5 718.5 m 498.5 718.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 718.5 m 560.5 718.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 193.5 718.5 m 251.5 718.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 255.5 718.5 m 312.5 718.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316.5 718.5 m 374.5 718.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378.5 718.5 m 436.5 718.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440.5 718.5 m 498.5 718.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 718.5 m 560.5 718.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 193.5 643.5 m 251.5 643.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 193.5 628.5 m 251.5 628.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 255.5 643.5 m 312.5 643.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 255.5 628.5 m 312.5 628.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316.5 643.5 m 374.5 643.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316.5 628.5 m 374.5 628.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378.5 643.5 m 436.5 643.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378.5 628.5 m 436.5 628.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440.5 643.5 m 498.5 643.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440.5 628.5 m 498.5 628.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 643.5 m 560.5 643.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 628.5 m 560.5 628.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 193.5 614.5 m 251.5 614.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 193.5 612.5 m 251.5 612.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 255.5 614.5 m 312.5 614.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 255.5 612.5 m 312.5 612.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316.5 614.5 m 374.5 614.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316.5 612.5 m 374.5 612.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378.5 614.5 m 436.5 614.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378.5 612.5 m 436.5 612.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440.5 614.5 m 498.5 614.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440.5 612.5 m 498.5 612.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 614.5 m 560.5 614.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 612.5 m 560.5 612.5 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 263.20 738.18 Td (Revenues) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 425.35 738.18 Td (Long-Lived ) Tj ET Q q 0 0 0 rg BT 477.31 738.18 Td (Assets ) Tj ET Q BT /F2 10.00 Tf ET BT /F2 6.50 Tf ET q 0 0 0 rg BT 506.47 742.71 Td (\(i\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 722.75 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 212.00 723.18 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 273.50 723.18 Td (2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 335.00 723.18 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 397.00 723.18 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 459.00 723.18 Td (2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 521.00 723.18 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 709.07 Td (Ireland) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.00 708.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 237.65 708.17 Td (92) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.00 708.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.65 708.17 Td (64) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.00 708.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.65 708.17 Td (51) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.00 708.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.65 708.17 Td (114) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.00 708.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.65 708.17 Td (124) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 708.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.65 708.17 Td (121) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 679.07 Td (United States) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.15 678.17 Td (3,395) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.15 678.17 Td (1,597) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.15 678.17 Td (1,600) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.15 678.17 Td (11,400) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.15 678.17 Td (1,759) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.15 678.17 Td (1,800) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 664.07 Td (United Kingdom) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.15 663.17 Td (2,236) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.15 663.17 Td (1,055) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.15 663.17 Td (1,057) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.15 663.17 Td (2,431) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.15 663.17 Td (2,426) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.15 663.17 Td (1,666) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 649.07 Td (Rest of World) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.15 648.17 Td (2,164) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.15 648.17 Td (1,113) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.15 648.17 Td (1,094) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.15 648.17 Td (2,466) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.15 648.17 Td (1,951) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.65 648.17 Td (976) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 634.07 Td (Total Foreign Countries) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.15 633.17 Td (7,795) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.15 633.17 Td (3,765) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.15 633.17 Td (3,751) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.15 633.17 Td (16,297) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.15 633.17 Td (6,136) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.15 633.17 Td (4,442) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.00 618.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.15 618.17 Td (7,887) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.00 618.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.15 618.17 Td (3,829) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.00 618.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.15 618.17 Td (3,802) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.00 618.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.15 618.17 Td (16,411) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.00 618.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.15 618.17 Td (6,260) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 618.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.15 618.17 Td (4,563) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 602.00 Td (____________________) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 150.00 602.00 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 68.00 583.40 Td (\(i\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 583.40 Td (Long-Lived ) Tj ET Q q 0 0 0 rg BT 125.77 583.40 Td (Assets does not include deferred tax assets.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 264.18 583.40 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 562.40 Td (Note 5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 77.49 562.40 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 92.49 562.40 Td (Restructuring Costs) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 178.32 562.40 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 541.40 Td (The Company had ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 126.37 541.40 Td (two) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 141.37 541.40 Td ( restructuring programs during the year ended December 31, 2016. ) Tj ET Q q 0 0 0 rg BT 413.05 541.40 Td (The Legacy ) Tj ET Q q 0 0 0 rg BT 462.84 541.40 Td (W) Tj ET Q q 0 0 0 rg BT 471.88 541.40 Td (illis Operational ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 529.40 Td (Improvement Program \(OIP\) and the ) Tj ET Q q 0 0 0 rg BT 206.72 529.40 Td (W) Tj ET Q q 0 0 0 rg BT 215.76 529.40 Td (illis ) Tj ET Q q 0 0 0 rg BT 233.08 529.40 Td (T) Tj ET Q q 0 0 0 rg BT 238.49 529.40 Td (owers ) Tj ET Q q 0 0 0 rg BT 264.69 529.40 Td (W) Tj ET Q q 0 0 0 rg BT 273.33 529.40 Td (atson Business Restructuring Program \(BRP\). Expenses related to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 517.40 Td (these plans are recorded in restructuring costs on the consolidated statements of operations.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 496.40 Td (An analysis of our total restructuring costs recorded in the statements of operations, and the costs by segment, and costs ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 484.40 Td (attributable to corporate functions, for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 219.66 484.40 Td (years ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 267.14 484.40 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.64 484.40 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.22 484.40 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.22 484.40 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.22 484.40 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.16 484.40 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.16 484.40 Td ( are as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 458.90 144.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 194.50 458.90 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 252.50 458.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.50 458.90 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 458.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 458.90 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 458.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 458.90 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 458.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 458.90 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 458.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 458.90 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 428.90 144.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 194.50 428.90 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 252.50 428.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.50 428.90 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 428.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 428.90 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 428.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 428.90 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 428.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 428.90 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 428.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 428.90 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 398.90 144.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 194.50 398.90 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 252.50 398.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.50 398.90 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 398.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 398.90 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 398.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 398.90 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 398.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 398.90 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 398.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 398.90 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 368.90 144.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 194.50 368.90 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 252.50 368.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.50 368.90 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 368.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 368.90 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 368.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 368.90 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 368.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 368.90 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 368.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 368.90 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 338.90 144.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 194.50 338.90 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 252.50 338.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.50 338.90 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 338.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 338.90 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 338.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 338.90 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 338.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 338.90 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 338.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 338.90 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 308.90 144.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 194.50 308.90 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 252.50 308.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.50 308.90 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 308.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 308.90 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 308.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 308.90 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 308.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 308.90 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 308.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 308.90 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 278.90 144.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 194.50 278.90 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 252.50 278.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.50 278.90 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 278.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 278.90 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 278.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 278.90 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 278.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 278.90 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 278.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 278.90 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 194.5 458.9 m 252.5 458.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256.5 458.9 m 314.5 458.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 458.9 m 376.5 458.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 458.9 m 438.5 458.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 458.9 m 500.5 458.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 458.9 m 562.5 458.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 194.5 413.9 m 252.5 413.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 194.5 399.9 m 252.5 399.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 194.5 397.9 m 252.5 397.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256.5 413.9 m 314.5 413.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256.5 399.9 m 314.5 399.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256.5 397.9 m 314.5 397.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 413.9 m 376.5 413.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 399.9 m 376.5 399.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 397.9 m 376.5 397.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 413.9 m 438.5 413.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 399.9 m 438.5 399.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 397.9 m 438.5 397.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 413.9 m 500.5 413.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 399.9 m 500.5 399.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 397.9 m 500.5 397.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 413.9 m 562.5 413.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 399.9 m 562.5 399.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 397.9 m 562.5 397.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 194.5 338.9 m 252.5 338.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 194.5 324.9 m 252.5 324.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 194.5 322.9 m 252.5 322.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256.5 338.9 m 314.5 338.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256.5 324.9 m 314.5 324.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256.5 322.9 m 314.5 322.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 338.9 m 376.5 338.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 324.9 m 376.5 324.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 322.9 m 376.5 322.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 338.9 m 438.5 338.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 324.9 m 438.5 324.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 322.9 m 438.5 322.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 338.9 m 500.5 338.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 324.9 m 500.5 324.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 322.9 m 500.5 322.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 338.9 m 562.5 338.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 324.9 m 562.5 324.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 322.9 m 562.5 322.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 194.5 263.9 m 252.5 263.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 194.5 249.89999999999998 m 252.5 249.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 194.5 247.89999999999998 m 252.5 247.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256.5 263.9 m 314.5 263.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256.5 249.89999999999998 m 314.5 249.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256.5 247.89999999999998 m 314.5 247.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 263.9 m 376.5 263.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 249.89999999999998 m 376.5 249.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 247.89999999999998 m 376.5 247.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 263.9 m 438.5 263.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 249.89999999999998 m 438.5 249.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 247.89999999999998 m 438.5 247.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 263.9 m 500.5 263.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 249.89999999999998 m 500.5 249.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 247.89999999999998 m 500.5 247.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 263.9 m 562.5 263.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 249.89999999999998 m 562.5 249.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 247.89999999999998 m 562.5 247.89999999999998 l s BT /F2 9.00 Tf ET q 0 0 0 rg BT 213.20 463.35 Td (HCB) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 275.45 463.35 Td (CRB) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 338.70 463.35 Td (IRR) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 403.45 463.35 Td (ES) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 451.00 463.35 Td (Corporate) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 523.15 463.35 Td (Total) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 53.00 448.35 Td (Year ended December 31, 2016) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 433.36 Td (Termination benefits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 197.00 433.57 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.65 433.57 Td (33) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.00 433.57 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.65 433.57 Td (26) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.00 433.57 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.65 433.57 Td (6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 433.57 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.65 433.57 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 433.57 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.65 433.57 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 433.57 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 433.57 Td (68) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 418.36 Td (Professional services and other) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 164.72 422.44 Td ( \(ii\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.65 418.57 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.65 418.57 Td (81) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.65 418.57 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 418.57 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 418.57 Td (36) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 418.57 Td (125) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 403.36 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 197.00 403.57 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.65 403.57 Td (37) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.00 403.57 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.65 403.57 Td (107) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.00 403.57 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.65 403.57 Td (10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 403.57 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.65 403.57 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 403.57 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 403.57 Td (38) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 403.57 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 403.57 Td (193) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 53.00 373.35 Td (Y) Tj ET Q q 0 0 0 rg BT 58.50 373.35 Td (ear) Tj ET Q q 0 0 0 rg BT 70.83 373.35 Td ( ended December) Tj ET Q q 0 0 0 rg BT 137.15 373.35 Td ( 31, 2015 ) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 173.15 377.43 Td (\(i\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 358.36 Td (Termination benefits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 197.00 358.57 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.65 358.57 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.00 358.57 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.65 358.57 Td (24) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.00 358.57 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.65 358.57 Td (7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 358.57 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 358.57 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 358.57 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.65 358.57 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 358.57 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 358.57 Td (36) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 343.36 Td (Professional services and other) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 164.72 347.44 Td ( \(ii\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.65 343.57 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.65 343.57 Td (57) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.65 343.57 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 343.57 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 343.57 Td (30) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 343.57 Td (90) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 328.36 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 197.00 328.57 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.65 328.57 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.00 328.57 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.65 328.57 Td (81) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.00 328.57 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.65 328.57 Td (9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 328.57 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 328.57 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 328.57 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 328.57 Td (33) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 328.57 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 328.57 Td (126) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 53.00 298.35 Td (Y) Tj ET Q q 0 0 0 rg BT 58.50 298.35 Td (ear) Tj ET Q q 0 0 0 rg BT 70.83 298.35 Td ( ended December) Tj ET Q q 0 0 0 rg BT 137.15 298.35 Td ( 31, 2014 ) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 173.15 302.43 Td (\(i\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 283.36 Td (Termination benefits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 197.00 283.57 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.65 283.57 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.00 283.57 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.65 283.57 Td (15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.00 283.57 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.65 283.57 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 283.57 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 283.57 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 283.57 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 283.57 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 283.57 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 283.57 Td (16) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 268.36 Td (Professional services and other) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 164.72 272.44 Td ( \(ii\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.65 268.57 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.65 268.57 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.65 268.57 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 268.57 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 268.57 Td (17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 268.57 Td (20) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 253.36 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 197.00 253.57 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.65 253.57 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.00 253.57 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.65 253.57 Td (18) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.00 253.57 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.65 253.57 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 253.57 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 253.57 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 253.57 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 253.57 Td (17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 253.57 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 253.57 Td (36) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 234.40 Td (___________________) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.00 234.40 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 221.80 Td (\(i\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 81.50 221.80 Td (The prior period comparatives have been retroactively reclassified for our segment reor) Tj ET Q q 0 0 0 rg BT 361.01 221.80 Td (ganization. See ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 413.88 221.80 Td (Note 4) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 435.43 221.80 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 447.43 221.80 Td (Segment Information) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 515.64 221.80 Td ( for further ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 81.50 212.20 Td (details.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 104.38 212.20 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 199.60 Td (\(ii\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 81.50 199.60 Td (Other includes salary and benefits, premises, and other expenses incurred to support the ongoing management and facilitation of the programs.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 538.25 199.60 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 178.60 Td (Operational Impr) Tj ET Q q 0 0 0 rg BT 120.46 178.60 Td (ovement Pr) Tj ET Q q 0 0 0 rg BT 165.90 178.60 Td (ogram) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 192.02 178.60 Td ( - In ) Tj ET Q q 0 0 0 rg BT 210.63 178.60 Td (April 2014, Legacy ) Tj ET Q q 0 0 0 rg BT 290.98 178.60 Td (W) Tj ET Q q 0 0 0 rg BT 300.01 178.60 Td (illis announced a multi-year operational improvement program ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 166.60 Td (designed to strengthen its client service capabilities and to deliver future cost savings. ) Tj ET Q q 0 0 0 rg BT 395.28 166.60 Td (The main elements of the program, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 154.60 Td (which will be completed by the end of 2017, include) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.50 154.60 Td (: ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 265.78 154.60 Td (moving more than ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.60 154.60 Td (3,500) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.10 154.60 Td ( support roles from higher cost locations to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 142.60 Td (facilities in lower cost locations; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 182.47 142.60 Td (net workforce reductions in support positions;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 366.60 142.60 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.10 142.60 Td (lease consolidation in real estate; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.77 142.60 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 130.60 Td (information technology systems simplification and rationalization.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.05 130.60 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 109.60 Td (The Company recognized restructuring costs of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.72 109.60 Td ($145 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.11 109.60 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.11 109.60 Td ($126 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.50 109.60 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.44 109.60 Td ($36 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.83 109.60 Td ( for the years ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.19 109.60 Td (December31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 97.60 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 97.60 Td (,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.50 97.60 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.00 97.60 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 97.60 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.44 97.60 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 134.44 97.60 Td (, related to its OIP) Tj ET Q q 0 0 0 rg BT 206.37 97.60 Td (. ) Tj ET Q q 0 0 0 rg BT 211.19 97.60 Td (The Company expects to incur an additional ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.86 97.60 Td ($130 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.26 97.60 Td ( of restructuring costs ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 85.60 Td (through the end of 2017, bringing the cumulative restructuring char) Tj ET Q q 0 0 0 rg BT 319.75 85.60 Td (ges to approximately $440 million. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.50 85.60 Td ( ) Tj ET Q endstream endobj 193 0 obj <> endobj 194 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (96) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (An analysis of the total cumulative restructuring costs recognized for the OIP) Tj ET Q q 0 0 0 rg BT 359.26 742.10 Td ( from commencement to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.79 742.10 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.37 742.10 Td ( by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (segment, and costs attributable to corporate functions, are as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 705.60 144.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 194.50 705.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 252.50 705.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.50 705.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 705.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 705.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 705.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 705.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 705.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 705.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 705.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 705.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 676.60 144.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 194.50 676.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 252.50 676.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.50 676.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 676.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 676.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 676.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 676.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 676.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 676.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 676.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 676.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 647.60 144.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 194.50 647.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 252.50 647.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.50 647.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 647.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 647.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 647.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 647.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 647.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 647.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 647.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 647.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 617.60 144.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 194.50 617.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 252.50 617.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.50 617.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 617.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 617.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 617.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 617.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 617.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 617.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 617.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 617.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 588.60 144.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 194.50 588.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 252.50 588.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.50 588.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 588.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 588.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 588.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 588.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 588.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 588.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 588.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 588.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 559.60 144.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 194.50 559.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 252.50 559.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.50 559.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 559.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 559.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 559.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 559.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 559.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 559.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 559.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 559.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 529.60 144.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 194.50 529.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 252.50 529.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.50 529.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 529.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 529.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 529.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 529.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 529.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 529.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 529.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 529.60 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 194.5 705.6 m 252.5 705.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256.5 705.6 m 314.5 705.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 705.6 m 376.5 705.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 705.6 m 438.5 705.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 705.6 m 500.5 705.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 705.6 m 562.5 705.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 194.5 529.6 m 252.5 529.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256.5 529.6 m 314.5 529.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 529.6 m 376.5 529.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 529.6 m 438.5 529.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 529.6 m 500.5 529.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 529.6 m 562.5 529.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 194.5 529.6 m 252.5 529.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 194.5 515.6 m 252.5 515.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 194.5 513.6 m 252.5 513.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256.5 529.6 m 314.5 529.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256.5 515.6 m 314.5 515.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256.5 513.6 m 314.5 513.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 529.6 m 376.5 529.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 515.6 m 376.5 515.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 513.6 m 376.5 513.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 529.6 m 438.5 529.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 515.6 m 438.5 515.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 513.6 m 438.5 513.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 529.6 m 500.5 529.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 515.6 m 500.5 515.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 513.6 m 500.5 513.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 529.6 m 562.5 529.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 515.6 m 562.5 515.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 513.6 m 562.5 513.6 l s BT /F2 9.00 Tf ET q 0 0 0 rg BT 213.20 710.05 Td (HCB) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 275.45 710.05 Td (CRB) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 338.70 710.05 Td (IRR) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 403.45 710.05 Td (ES) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 451.00 710.05 Td (Corporate) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 523.15 710.05 Td (Total) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 53.00 696.05 Td (2014 ) Tj ET Q BT /F2 9.00 Tf ET BT /F2 5.85 Tf ET q 0 0 0 rg BT 73.25 700.13 Td (\(i\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 681.06 Td (Termination benefits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 197.00 681.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.65 681.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.00 681.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.65 681.27 Td (15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.00 681.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.65 681.27 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 681.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 681.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 681.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 681.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 681.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 681.27 Td (16) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 666.06 Td (Professional services and other) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 170.72 670.14 Td ( \(ii\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.65 666.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.65 666.27 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.65 666.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 666.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 666.27 Td (17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 666.27 Td (20) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 53.00 652.05 Td (2015 ) Tj ET Q BT /F2 9.00 Tf ET BT /F2 5.85 Tf ET q 0 0 0 rg BT 73.25 656.13 Td (\(i\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 637.06 Td (Termination benefits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 197.00 637.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.65 637.27 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.00 637.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.65 637.27 Td (24) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.00 637.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.65 637.27 Td (7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 637.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 637.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 637.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.65 637.27 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 637.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 637.27 Td (36) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 622.06 Td (Professional services and other) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 170.72 626.14 Td ( \(ii\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.65 622.27 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.65 622.27 Td (57) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 368.15 622.06 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 622.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 622.27 Td (30) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 622.27 Td (90) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 53.00 608.05 Td (2016) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 593.06 Td (Termination benefits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 197.00 593.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.65 593.27 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.00 593.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.65 593.27 Td (18) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.00 593.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.65 593.27 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 593.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 593.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 593.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.65 593.27 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 593.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 593.27 Td (23) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 578.06 Td (Professional services and other) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 170.72 582.14 Td ( \(ii\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.65 578.27 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.65 578.27 Td (81) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.65 578.27 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 578.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 578.27 Td (36) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 578.27 Td (122) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 53.00 564.05 Td (Total) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 549.06 Td (Termination benefits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 197.00 549.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.65 549.27 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.00 549.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.65 549.27 Td (57) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.00 549.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.65 549.27 Td (11) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 549.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 549.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 549.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.65 549.27 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 549.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 549.27 Td (75) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 534.06 Td (Professional services and other) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 170.72 538.14 Td ( \(ii\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.65 534.27 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.65 534.27 Td (141) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.65 534.27 Td (6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 534.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 534.27 Td (83) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 534.27 Td (232) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 65.00 519.06 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 197.00 519.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.65 519.27 Td (5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.00 519.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.65 519.27 Td (198) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.00 519.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.65 519.27 Td (17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 519.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 519.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 519.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 519.27 Td (87) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 519.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 519.27 Td (307) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 503.10 Td (____________________) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 150.00 503.10 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 490.50 Td (\(i\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 81.50 490.50 Td (The prior period comparatives have been retroactively reclassified for our segment reor) Tj ET Q q 0 0 0 rg BT 361.01 490.50 Td (ganization. See ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 413.88 490.50 Td (Note 4) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 435.43 490.50 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 447.43 490.50 Td (Segment Information) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 515.64 490.50 Td ( for further ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 81.50 480.90 Td (details.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 104.38 480.90 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 468.30 Td (\(ii\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 81.50 468.30 Td (Other includes salary and benefits, premises, and other expenses incurred to support the ongoing management and facilitation of the program.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 535.14 468.30 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 447.30 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.50 447.30 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 141.08 447.30 Td (, the Company) Tj ET Q q 0 0 0 rg BT 202.47 447.30 Td (s liability under the OIP) Tj ET Q q 0 0 0 rg BT 298.19 447.30 Td ( is as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 407.80 330.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 407.80 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 407.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 407.80 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 407.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 407.80 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 377.80 330.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 377.80 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 377.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 377.80 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 377.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 377.80 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 347.80 330.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 347.80 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 347.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 347.80 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 347.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 347.80 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 317.80 330.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 317.80 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 317.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 317.80 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 317.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 317.80 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 287.80 330.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 287.80 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 287.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 287.80 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 287.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 287.80 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 380.5 407.79999999999995 m 438.5 407.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 407.79999999999995 m 500.5 407.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 407.79999999999995 m 562.5 407.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 362.79999999999995 m 438.5 362.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 362.79999999999995 m 500.5 362.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 362.79999999999995 m 562.5 362.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 317.79999999999995 m 438.5 317.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 317.79999999999995 m 500.5 317.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 317.79999999999995 m 562.5 317.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 272.79999999999995 m 438.5 272.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 258.79999999999995 m 438.5 258.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 256.79999999999995 m 438.5 256.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 272.79999999999995 m 500.5 272.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 258.79999999999995 m 500.5 258.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 256.79999999999995 m 500.5 256.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 272.79999999999995 m 562.5 272.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 258.79999999999995 m 562.5 258.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 256.79999999999995 m 562.5 256.79999999999995 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 387.80 420.03 Td (Termination) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 395.20 412.03 Td (Benefits) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 450.15 428.03 Td (Professional) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 449.55 420.03 Td (Services and) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 460.85 412.03 Td (Other) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 524.25 412.03 Td (Total) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 397.26 Td (Balance at January 1, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 397.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 397.47 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 397.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 397.47 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 397.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 397.47 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 382.26 Td (Charges incurred) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 382.47 Td (16) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 382.47 Td (20) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 382.47 Td (36) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 367.26 Td (Cash payments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.30 367.52 Td (\(11) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 367.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.30 367.52 Td (\(14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 367.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 367.52 Td (\(25) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 367.47 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 352.26 Td (Balance at December 31, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.65 352.47 Td (5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.65 352.47 Td (6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 352.47 Td (11) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 337.26 Td (Charges incurred) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 337.47 Td (36) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 337.47 Td (90) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 337.47 Td (126) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 322.26 Td (Cash payments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.30 322.52 Td (\(26) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 322.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.30 322.52 Td (\(85) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 322.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 322.52 Td (\(111) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 322.47 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 307.26 Td (Balance at December 31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 307.47 Td (15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 307.47 Td (11) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 307.47 Td (26) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 292.26 Td (Charges incurred) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 292.47 Td (23) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 292.47 Td (122) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 292.47 Td (145) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 277.26 Td (Cash payments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.30 277.52 Td (\(31) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 277.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.30 277.52 Td (\(115) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 277.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 277.52 Td (\(146) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 277.47 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 262.26 Td (Balance at December 31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 262.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.65 262.47 Td (7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 262.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 262.47 Td (18) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 262.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 262.47 Td (25) Tj ET Q BT /F1 10.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 237.30 Td (Business Restructur) Tj ET Q q 0 0 0 rg BT 129.35 237.30 Td (e Pr) Tj ET Q q 0 0 0 rg BT 145.91 237.30 Td (ogram) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 172.03 237.30 Td ( - In the second quarter of 2016, we began planning tar) Tj ET Q q 0 0 0 rg BT 391.22 237.30 Td (geted staf) Tj ET Q q 0 0 0 rg BT 429.63 237.30 Td (fing reductions in certain ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 225.30 Td (portions of the business due to a reduction in business demand or change in business focus. ) Tj ET Q q 0 0 0 rg BT 417.26 225.30 Td (The main element of the program ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 213.30 Td (was workforce reductions, and was completed as of December 31, 2016. ) Tj ET Q q 0 0 0 rg BT 345.00 213.30 Td (The Company recognized restructuring costs of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.72 213.30 Td ($48 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 201.30 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.89 201.30 Td ( for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 110.27 201.30 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 153.85 201.30 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 156.35 201.30 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 234.94 201.30 Td (.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 180.30 Td (An analysis of the total cumulative restructuring costs recognized for the BRP) Tj ET Q q 0 0 0 rg BT 362.05 180.30 Td ( from commencement to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.57 180.30 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.16 180.30 Td ( by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 168.30 Td (segment, and those costs attributable to corporate functions, are as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 142.80 144.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 194.50 142.80 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 252.50 142.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.50 142.80 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 142.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 142.80 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 142.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 142.80 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 142.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 142.80 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 142.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 142.80 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 112.80 144.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 194.50 112.80 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 252.50 112.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.50 112.80 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 112.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 112.80 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 112.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 112.80 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 112.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 112.80 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 112.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 112.80 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 194.5 142.79999999999995 m 252.5 142.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256.5 142.79999999999995 m 314.5 142.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 142.79999999999995 m 376.5 142.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 142.79999999999995 m 438.5 142.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 142.79999999999995 m 500.5 142.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 142.79999999999995 m 562.5 142.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 194.5 97.79999999999995 m 252.5 97.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 194.5 83.79999999999995 m 252.5 83.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 194.5 81.79999999999995 m 252.5 81.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256.5 97.79999999999995 m 314.5 97.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256.5 83.79999999999995 m 314.5 83.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256.5 81.79999999999995 m 314.5 81.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 97.79999999999995 m 376.5 97.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 83.79999999999995 m 376.5 83.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 81.79999999999995 m 376.5 81.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 97.79999999999995 m 438.5 97.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 83.79999999999995 m 438.5 83.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 81.79999999999995 m 438.5 81.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 97.79999999999995 m 500.5 97.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 83.79999999999995 m 500.5 83.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 81.79999999999995 m 500.5 81.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 97.79999999999995 m 562.5 97.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 83.79999999999995 m 562.5 83.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 81.79999999999995 m 562.5 81.79999999999995 l s BT /F2 9.00 Tf ET q 0 0 0 rg BT 213.20 147.25 Td (HCB) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 275.45 147.25 Td (CRB) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 338.70 147.25 Td (IRR) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 403.45 147.25 Td (ES) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 451.00 147.25 Td (Corporate) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 523.15 147.25 Td (Total) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 53.00 132.25 Td (2016) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 117.26 Td (Termination benefits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 197.00 117.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.65 117.47 Td (32) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.00 117.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.65 117.47 Td (8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.00 117.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.65 117.47 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 117.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.65 117.47 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 117.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.65 117.47 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 117.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 117.47 Td (45) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 102.26 Td (Professional services and other) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 170.72 106.34 Td ( \(i\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.65 102.47 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.65 102.47 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.65 102.47 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 102.47 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 102.47 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 102.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 102.47 Td (3) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 65.00 87.26 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 197.00 87.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.65 87.47 Td (35) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.00 87.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.65 87.47 Td (8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.00 87.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.65 87.47 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 87.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.65 87.47 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 87.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.65 87.47 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 87.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 87.47 Td (48) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 68.30 Td (____________________) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 150.00 68.30 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 55.70 Td (\(i\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 81.50 55.70 Td (Other includes salary and benefits, premises, and other expenses incurred to support the ongoing management and facilitation of the program.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 535.14 55.70 Td ( ) Tj ET Q endstream endobj 195 0 obj <> endobj 196 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (97) 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 (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 141.08 742.10 Td (, the Company) Tj ET Q q 0 0 0 rg BT 202.47 742.10 Td (s liability under the BRP) Tj ET Q q 0 0 0 rg BT 300.98 742.10 Td ( is as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 702.60 330.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 702.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 702.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 702.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 702.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 702.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 672.60 330.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 672.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 672.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 672.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 672.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 672.60 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 380.5 702.6 m 438.5 702.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 702.6 m 500.5 702.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 702.6 m 562.5 702.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 702.6 m 438.5 702.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 702.6 m 500.5 702.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 657.6 m 438.5 657.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 643.6 m 438.5 643.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 641.6 m 438.5 641.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 657.6 m 500.5 657.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 643.6 m 500.5 643.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 641.6 m 500.5 641.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 657.6 m 562.5 657.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 643.6 m 562.5 643.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 641.6 m 562.5 641.6 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 387.80 714.83 Td (Termination) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 395.20 706.83 Td (Benefits) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 450.15 722.83 Td (Professional) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 449.55 714.83 Td (Services and) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 460.85 706.83 Td (Other) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 524.25 706.83 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 692.27 Td (Balance at December 31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 692.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 692.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 692.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 692.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 692.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 692.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 677.27 Td (Charges incurred) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 677.27 Td (45) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.65 677.27 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 677.27 Td (48) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 662.27 Td (Cash payments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.30 662.32 Td (\(19) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 662.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.30 662.32 Td (\(3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 662.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 662.32 Td (\(22) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 662.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 647.27 Td (Balance at December 31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 647.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 647.27 Td (26) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 647.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 647.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 647.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 647.27 Td (26) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (Note 6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 77.49 622.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 92.49 622.10 Td (Income ) Tj ET Q q 0 0 0 rg BT 126.47 622.10 Td (T) Tj ET Q q 0 0 0 rg BT 132.22 622.10 Td (axes ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 153.05 622.10 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 601.10 Td (Provision for income taxes) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 160.27 601.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 584.10 Td (An analysis of income/\(loss\) before income taxes by taxing jurisdiction is shown below: ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.77 584.10 Td ( ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 549.60 330.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 549.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 549.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 549.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 549.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 549.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 521.60 330.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 521.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 521.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 521.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 521.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 521.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 493.60 330.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 493.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 493.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 493.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 493.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 493.60 58.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 561.6 m 438.5 561.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 561.6 m 442.5 561.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 561.6 m 500.5 561.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500.5 561.6 m 504.5 561.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 561.6 m 562.5 561.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 549.6 m 438.5 549.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 549.6 m 500.5 549.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 549.6 m 562.5 549.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 549.6 m 500.5 549.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 549.6 m 562.5 549.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 493.6 m 438.5 493.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 493.6 m 500.5 493.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 493.6 m 562.5 493.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 480.6 m 438.5 480.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 478.6 m 438.5 478.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 480.6 m 500.5 480.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 478.6 m 500.5 478.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 480.6 m 562.5 480.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 478.6 m 562.5 478.6 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 425.95 565.68 Td (Years ended December 31,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 401.00 553.68 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 463.00 553.68 Td (2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 525.00 553.68 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 540.17 Td (Ireland) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 540.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.30 540.22 Td (\(27) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 540.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 540.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.30 540.22 Td (\(61) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 540.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 540.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 540.22 Td (\(65) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 540.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 526.17 Td (U.S.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.30 526.22 Td (\(311) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 526.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.30 526.22 Td (\(67) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 526.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 526.17 Td (92) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 512.17 Td (U.K.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 512.17 Td (123) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 512.17 Td (65) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 512.17 Td (154) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 498.17 Td (Other jurisdictions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 498.17 Td (555) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 498.17 Td (403) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 498.17 Td (337) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 484.17 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 484.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 484.17 Td (340) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 484.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 484.17 Td (340) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 484.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 484.17 Td (518) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 459.10 Td (The components of the income tax provision for continuing operations include:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.15 459.10 Td ( ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 424.60 330.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 424.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 424.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 424.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 424.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 424.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 396.60 330.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 396.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 396.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 396.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 396.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 396.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 368.60 330.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 368.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 368.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 368.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 368.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 368.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 340.60 330.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 340.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 340.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 340.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 340.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 340.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 312.60 330.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 312.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 312.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 312.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 312.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 312.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 284.60 330.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 284.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 284.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 284.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 284.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 284.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 256.60 330.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 256.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 256.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 256.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 256.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 256.60 58.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 436.6 m 438.5 436.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 436.6 m 442.5 436.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 436.6 m 500.5 436.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500.5 436.6 m 504.5 436.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 436.6 m 562.5 436.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 424.6 m 438.5 424.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 424.6 m 500.5 424.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 424.6 m 562.5 424.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 354.6 m 438.5 354.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 354.6 m 500.5 354.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 354.6 m 562.5 354.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 354.6 m 438.5 354.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 340.6 m 438.5 340.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 340.6 m 500.5 340.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 340.6 m 562.5 340.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 270.6 m 438.5 270.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 270.6 m 500.5 270.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 270.6 m 562.5 270.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 256.6 m 438.5 256.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 256.6 m 500.5 256.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 256.6 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 380.5 243.60000000000002 m 438.5 243.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 241.60000000000002 m 438.5 241.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 256.6 m 500.5 256.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 243.60000000000002 m 500.5 243.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 241.60000000000002 m 500.5 241.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 243.60000000000002 m 562.5 243.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 241.60000000000002 m 562.5 241.60000000000002 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 425.95 440.68 Td (Years ended December 31,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 428.55 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 401.00 428.68 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 463.00 428.68 Td (2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 525.00 428.68 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 415.17 Td (Current tax expense/\(benefit\):) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 401.17 Td (U.S. federal taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 401.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 401.17 Td (35) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 401.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 401.17 Td (14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 401.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 401.22 Td (\(16) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 401.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 387.17 Td (U.S. state and local taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 387.17 Td (14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.65 387.17 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 387.17 Td (7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 373.17 Td (U.K. corporation tax) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 373.17 Td (28) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 373.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 373.17 Td (29) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 359.17 Td (Other jurisdictions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 359.17 Td (71) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 359.17 Td (51) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 359.17 Td (73) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 345.17 Td (Total current tax expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 345.17 Td (148) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 345.17 Td (66) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 345.17 Td (93) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 331.17 Td (Deferred tax expense/\(benefit\):) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 317.17 Td (U.S. federal taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.30 317.22 Td (\(214) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 317.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.30 317.22 Td (\(113) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 317.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 317.17 Td (35) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 303.17 Td (U.S. state and local taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.30 303.22 Td (\(5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 303.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.30 303.22 Td (\(3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 303.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 303.17 Td (10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 289.17 Td (U.K. corporation tax) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 289.17 Td (10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 289.17 Td (14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 289.17 Td (24) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 275.17 Td (Other jurisdictions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.30 275.22 Td (\(35) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 275.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.65 275.17 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 275.22 Td (\(3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 275.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 261.17 Td (Total deferred tax \(benefit\)/expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.30 261.22 Td (\(244) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 261.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.30 261.22 Td (\(99) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 261.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 261.17 Td (66) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 247.17 Td (Total \(benefit from\)/provision for income taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 247.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.30 247.22 Td (\(96) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 247.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 247.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.30 247.22 Td (\(33) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 247.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 247.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 247.17 Td (159) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 197 0 obj <> endobj 198 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (98) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (Ef) Tj ET Q q 0 0 0 rg BT 59.82 742.25 Td (fective tax rate reconciliation) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 180.07 742.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 721.25 Td (The reported income tax provision for continuing operations dif) Tj ET Q q 0 0 0 rg BT 305.31 721.25 Td (fers from the amounts that would have resulted had the reported ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 709.25 Td (income before income taxes been taxed at the U.S. federal statutory rate. ) Tj ET Q q 0 0 0 rg BT 342.75 709.25 Td (The principal reasons for the dif) Tj ET Q q 0 0 0 rg BT 471.14 709.25 Td (ferences between the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 697.25 Td (amounts provided and those that would have resulted from the application of the U.S. federal statutory tax rate are as follows:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.19 697.25 Td ( ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 662.75 330.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 662.75 58.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 662.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 662.75 58.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 662.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 662.75 58.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 623.75 330.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 623.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 623.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 623.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 623.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 623.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 595.75 330.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 595.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 595.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 595.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 595.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 595.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 567.75 330.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 567.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 567.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 567.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 567.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 567.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 539.75 330.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 539.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 539.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 539.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 539.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 539.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 511.75 330.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 511.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 511.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 511.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 511.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 511.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 483.75 330.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 483.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 483.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 483.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 483.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 483.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 455.75 330.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 455.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 455.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 455.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 455.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 455.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 427.75 330.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 427.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 427.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 427.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 427.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 427.75 58.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 674.75 m 438.5 674.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 674.75 m 442.5 674.75 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 500.5 674.75 m 504.5 674.75 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 380.5 674.75 m 438.5 674.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 674.75 m 442.5 674.75 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 500.5 674.75 m 504.5 674.75 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 504.5 662.75 m 562.5 662.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 662.75 m 438.5 662.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 662.75 m 500.5 662.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 662.75 m 562.5 662.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 427.75 m 438.5 427.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 414.75 m 438.5 414.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 412.75 m 438.5 412.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 427.75 m 500.5 427.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 414.75 m 500.5 414.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 412.75 m 500.5 412.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 427.75 m 562.5 427.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 414.75 m 562.5 414.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 412.75 m 562.5 412.75 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 678.70 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 425.95 678.83 Td (Years ended December 31,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 666.70 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 401.00 666.83 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 463.00 666.83 Td (2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 525.00 666.83 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 653.32 Td (INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 643.32 Td (AND INTEREST IN EARNINGS OF ASSOCIATES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 642.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.65 642.42 Td (340) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 642.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.65 642.42 Td (340) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 642.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.65 642.42 Td (518) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 628.32 Td (U.S. federal statutory income tax rate) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 628.32 Td (35) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.65 628.32 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 628.32 Td (35) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.65 628.32 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 628.32 Td (35) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 628.32 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 614.32 Td (Income tax expense at U.S. federal tax rate) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.65 614.32 Td (119) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.65 614.32 Td (119) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.65 614.32 Td (181) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 600.32 Td (Adjustments to derive effective rate:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.00 600.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.00 600.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 586.32 Td (Non-deductible expenses and dividends) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 586.32 Td (15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 586.32 Td (32) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 586.32 Td (21) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 572.32 Td (Non-deductible acquisition costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 572.32 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 572.32 Td (9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 572.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 558.32 Td (Disposal of non-deductible goodwill) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 558.32 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 558.32 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 558.32 Td (11) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 544.32 Td (Gain on remeasurement of equity interests) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 544.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.30 544.37 Td (\(20) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.65 544.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 544.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 530.32 Td (Impact of change in rate on deferred tax balances) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.30 530.37 Td (\(15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.65 530.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.30 530.37 Td (\(5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.65 530.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 530.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 516.32 Td (Effect of foreign exchange and other differences) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 516.32 Td (6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.30 516.37 Td (\(1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.65 516.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 516.37 Td (\(4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 516.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 502.32 Td (Non-deductible Venezuelan foreign exchange loss) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 502.32 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 502.32 Td (11) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 502.32 Td (5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 488.32 Td (Changes in valuation allowances) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.30 488.37 Td (\(74) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.65 488.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.30 488.37 Td (\(104) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.65 488.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 488.32 Td (7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 474.32 Td (Net tax effect of intra-group items) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.30 474.37 Td (\(98) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.65 474.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.30 474.37 Td (\(30) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.65 474.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 474.37 Td (\(30) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 474.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 460.32 Td (Tax differentials of non-U.S. jurisdictions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.30 460.37 Td (\(80) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.65 460.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.30 460.37 Td (\(42) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.65 460.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 460.37 Td (\(48) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 460.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 446.32 Td (Tax differentials of U.S. state taxes and local taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 446.32 Td (14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.30 446.37 Td (\(2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.65 446.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 446.32 Td (17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 432.32 Td (Other items, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 432.32 Td (10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.30 432.37 Td (\(3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.65 432.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 432.37 Td (\(1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 432.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 418.32 Td (\(Benefit from\)/provision for income taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 418.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.30 418.37 Td (\(96) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.65 418.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 418.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.30 418.37 Td (\(33) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.65 418.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 418.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.65 418.32 Td (159) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 393.25 Td (W) Tj ET Q q 0 0 0 rg BT 59.04 393.25 Td (illis ) Tj ET Q q 0 0 0 rg BT 76.36 393.25 Td (T) Tj ET Q q 0 0 0 rg BT 81.77 393.25 Td (owers ) Tj ET Q q 0 0 0 rg BT 107.97 393.25 Td (W) Tj ET Q q 0 0 0 rg BT 116.61 393.25 Td (atson plc is a non-trading holding company tax resident in Ireland where it is taxed at the statutory rate of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.93 393.25 Td (25%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.26 393.25 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 381.25 Td (The provision for income tax on continuing operations has been reconciled above to the U.S. federal statutory tax rate of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.85 381.25 Td (35%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.18 381.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 369.25 Td (due to significant operations in the U.S.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 208.86 369.25 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 348.25 Td (Deferred income taxes) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 142.75 348.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 327.25 Td (Deferred income tax assets and liabilities reflect the ef) Tj ET Q q 0 0 0 rg BT 267.50 327.25 Td (fect of temporary dif) Tj ET Q q 0 0 0 rg BT 350.34 327.25 Td (ferences between the assets and liabilities ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 315.25 Td (recognized for financial reporting purposes and the amounts recognized for income tax purposes. ) Tj ET Q q 0 0 0 rg BT 440.80 315.25 Td (W) Tj ET Q q 0 0 0 rg BT 449.43 315.25 Td (e recognize deferred tax ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 303.25 Td (assets if it is more likely than not that a benefit will be realized.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.81 303.25 Td ( ) Tj ET Q endstream endobj 199 0 obj <> endobj 200 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (99) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (Deferred income tax assets and liabilities included in the consolidated balance sheets at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.82 742.10 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.41 742.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.84 742.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.84 742.10 Td ( are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (comprised of the following:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 161.37 730.10 Td ( ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 695.60 392.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 695.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 695.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 695.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 667.60 392.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 667.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 667.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 667.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 640.60 392.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 640.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 640.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 640.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 612.60 392.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 612.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 612.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 612.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 584.60 392.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 584.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 584.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 584.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 556.60 392.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 556.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 556.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 556.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 528.60 392.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 528.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 528.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 528.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 500.60 392.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 500.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 500.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 500.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 472.60 392.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 472.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 472.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 472.60 58.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 707.6 m 500.5 707.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500.5 707.6 m 504.5 707.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 707.6 m 562.5 707.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 707.6 m 500.5 707.6 l s 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 500.5 707.6 m 504.5 707.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 707.6 m 562.5 707.6 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 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 584.6 m 500.5 584.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 584.6 m 562.5 584.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 556.6 m 500.5 556.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 556.6 m 562.5 556.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 542.6 m 500.5 542.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 542.6 m 562.5 542.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 472.6 m 500.5 472.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 472.6 m 562.5 472.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 458.6 m 500.5 458.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 458.6 m 562.5 458.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 445.6 m 500.5 445.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 443.6 m 500.5 443.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 445.6 m 562.5 445.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 443.6 m 562.5 443.6 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 711.55 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 478.75 711.68 Td (December 31,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 699.55 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 463.00 699.68 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 525.00 699.68 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 686.17 Td (Deferred tax assets:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.00 686.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.00 686.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 672.17 Td (Accrued expenses not currently deductible) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 672.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 672.17 Td (286) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 672.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 672.17 Td (175) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 658.17 Td (Net operating losses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 658.17 Td (116) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 658.17 Td (115) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 645.17 Td (Capital loss carryforwards) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 645.17 Td (28) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 645.17 Td (33) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 631.17 Td (Accrued retirement benefits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 631.17 Td (467) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 631.17 Td (109) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 617.17 Td (Deferred compensation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 617.17 Td (83) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 617.17 Td (34) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 603.17 Td (Stock options) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 603.17 Td (36) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 603.17 Td (16) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 589.17 Td (Financial derivative transactions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 589.17 Td (12) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 589.17 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 575.17 Td (Gross deferred tax assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.15 575.17 Td (1,028) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 575.17 Td (486) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 561.17 Td (Less: valuation allowance) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.30 561.22 Td (\(134) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 561.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 561.22 Td (\(187) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 561.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 547.17 Td (Net deferred tax assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 547.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 547.17 Td (894) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 547.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 547.17 Td (299) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 533.17 Td (Deferred tax liabilities:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.00 533.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.00 533.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 519.17 Td (Cost of intangible assets, net of related amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 519.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.15 519.17 Td (1,431) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 519.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 519.17 Td (289) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 505.17 Td (Cost of tangible assets, net of related depreciation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 505.17 Td (73) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 505.17 Td (32) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 491.17 Td (Prepaid retirement benefits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 491.17 Td (85) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 491.17 Td (111) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 477.17 Td (Accrued revenue not currently taxable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 477.17 Td (119) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 477.17 Td (31) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 463.17 Td (Deferred tax liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 463.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.15 463.17 Td (1,708) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 463.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 463.17 Td (463) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 449.17 Td (Net deferred tax liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 449.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 449.17 Td (814) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 449.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 449.17 Td (164) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 424.10 Td (The net deferred income tax assets are included in other non-current assets and the net deferred tax liabilities are included in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 412.10 Td (deferred tax liabilities in our balance sheets.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 226.32 412.10 Td ( ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 377.60 392.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 377.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 377.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 377.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 349.60 392.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 349.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 349.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 349.60 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 442.5 389.6 m 500.5 389.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500.5 389.6 m 504.5 389.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 389.6 m 562.5 389.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 389.6 m 500.5 389.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 377.6 m 500.5 377.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500.5 389.6 m 504.5 389.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 389.6 m 562.5 389.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 377.6 m 562.5 377.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 336.6 m 562.5 336.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 336.6 m 500.5 336.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 323.6 m 500.5 323.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 321.6 m 500.5 321.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 323.6 m 562.5 323.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 321.6 m 562.5 321.6 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 393.55 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 478.75 393.68 Td (December 31,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 381.55 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 463.00 381.68 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 525.00 381.68 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 368.17 Td (Balance sheet classifications:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.00 368.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.00 368.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 354.17 Td (Other non-current assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 354.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 354.17 Td (50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 354.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 354.17 Td (76) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 340.17 Td (Deferred tax liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 340.17 Td (864) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 340.17 Td (240) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 327.17 Td (Net deferred tax liability) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 327.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 327.17 Td (814) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 327.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 327.17 Td (164) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 302.10 Td (At December 31, 2016, the Company had deferred tax assets of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.31 302.10 Td ($894 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.70 302.10 Td (, net of the valuation allowance. Management ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 290.10 Td (believes, based on the evaluation of positive and negative evidence, including the future reversal of existing taxable temporary ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 278.10 Td (dif) Tj ET Q q 0 0 0 rg BT 60.93 278.10 Td (ferences, it is more likely than not that the Company will realize the benefits of these deductible dif) Tj ET Q q 0 0 0 rg BT 458.40 278.10 Td (ferences, net of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 266.10 Td (valuation allowance. During calendar year 2016 the Company released a valuation allowance of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.51 266.10 Td ($69 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.91 266.10 Td ( relating to accrued ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 254.10 Td (interest not deductible as a result of deferred tax liabilities recorded for the Mer) Tj ET Q q 0 0 0 rg BT 367.75 254.10 Td (ger) Tj ET Q q 0 0 0 rg BT 379.97 254.10 Td (. ) Tj ET Q q 0 0 0 rg BT 387.29 254.10 Td (The future reversal of the deferred tax ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 242.10 Td (liabilities serve as a source of income to recognize the deferred tax asset for accrued interest not deductible. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 221.10 Td (At December 31, 2016, we had U.S. federal and non-U.S. tax loss carryforwards amounting to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.18 221.10 Td ($246 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.57 221.10 Td ( of which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.84 221.10 Td ($197 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 209.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.89 209.10 Td ( can be indefinitely carried forward under local statutes. ) Tj ET Q q 0 0 0 rg BT 304.73 209.10 Td (The remaining ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.82 209.10 Td ($49 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.21 209.10 Td ( of net operating loss carryforwards ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 197.10 Td (will expire, if unused, in varying amounts from 2017 through 2036. In addition, we had U.S. state net operating loss ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 185.10 Td (carryforwards of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 119.41 185.10 Td ($1.2 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 165.52 185.10 Td (, which will expire in varying amounts from 2017 to 2036.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.93 185.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 164.10 Td (At December31, 2016 and 2015, the Company had valuation allowances of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.03 164.10 Td ($134 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.42 164.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.86 164.10 Td ($187 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.25 164.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 530.91 164.10 Td (, to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 152.10 Td (reduce its deferred tax assets to estimated realizable value. ) Tj ET Q q 0 0 0 rg BT 286.38 152.10 Td (The valuation allowance at December 31, 2016 relates to deferred ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 140.10 Td (tax assets for U.K. capital loss carryforwards of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.27 140.10 Td ($28 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.66 140.10 Td (, which have an unlimited carryforward period. ) Tj ET Q q 0 0 0 rg BT 480.80 140.10 Td (The valuation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 128.10 Td (allowances on U.S. and non-U.S. net operating losses are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.34 128.10 Td ($78 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.73 128.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 347.17 128.10 Td ($28 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.56 128.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 446.22 128.10 Td (. ) Tj ET Q q 0 0 0 rg BT 451.04 128.10 Td (The valuation allowance at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 116.10 Td (December 31, 2015 relates to deferred tax assets for U.K. capital loss carryforwards of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.03 116.10 Td ($33 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.42 116.10 Td ( and accrued interest not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 104.10 Td (currently deductible of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 143.57 104.10 Td ($69 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 189.97 104.10 Td (, which have an unlimited carryforward period. ) Tj ET Q q 0 0 0 rg BT 381.10 104.10 Td (The valuation allowances on U.S. and non-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 92.10 Td (U.S. net operating losses are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 166.36 92.10 Td ($79 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 212.75 92.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.19 92.10 Td ($6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.58 92.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 326.25 92.10 Td (. ) Tj ET Q endstream endobj 201 0 obj <> endobj 202 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.50 31.60 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (An analysis of our valuation allowance is shown below) Tj ET Q q 0 0 0 rg BT 270.42 742.10 Td (.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 707.60 330.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 707.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 707.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 707.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 707.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 707.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 678.60 330.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 678.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 678.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 678.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 678.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 678.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 650.60 330.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 650.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 650.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 650.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 650.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 650.60 58.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 719.6 m 438.5 719.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 719.6 m 442.5 719.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 719.6 m 500.5 719.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500.5 719.6 m 504.5 719.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 719.6 m 562.5 719.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 719.6 m 438.5 719.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 719.6 m 442.5 719.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 719.6 m 500.5 719.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500.5 719.6 m 504.5 719.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 719.6 m 562.5 719.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 707.6 m 562.5 707.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 707.6 m 438.5 707.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 707.6 m 500.5 707.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 707.6 m 562.5 707.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 650.6 m 438.5 650.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 650.6 m 500.5 650.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 650.6 m 562.5 650.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 637.6 m 438.5 637.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 635.6 m 438.5 635.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 637.6 m 500.5 637.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 635.6 m 500.5 635.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 637.6 m 562.5 637.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 635.6 m 562.5 635.6 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 723.55 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 425.95 723.68 Td (Years ended December 31,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 711.55 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 401.00 711.68 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 463.00 711.68 Td (2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 525.00 711.68 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 698.17 Td (Balance at beginning of year) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 697.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 697.27 Td (187) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 697.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 697.27 Td (280) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 697.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 697.27 Td (196) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 683.17 Td (Additions charged against/\(credited to\) to costs and expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 683.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 683.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 683.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 669.17 Td (Additions charged against/\(credited to\) to other accounts) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 669.17 Td (21) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.65 669.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 669.17 Td (84) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 655.17 Td (Deductions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.30 655.22 Td (\(74) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 655.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.30 655.22 Td (\(95) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 655.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 655.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 641.17 Td (Balance at end of year) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 641.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 641.17 Td (134) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 641.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 641.17 Td (187) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 641.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 641.17 Td (280) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 616.10 Td (The amount char) Tj ET Q q 0 0 0 rg BT 117.57 616.10 Td (ged to tax expense in the table above for 2016 dif) Tj ET Q q 0 0 0 rg BT 315.10 616.10 Td (fers from the ef) Tj ET Q q 0 0 0 rg BT 376.84 616.10 Td (fect of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.15 616.10 Td ($74 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.54 616.10 Td ( disclosed in the rate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 604.10 Td (reconciliation primarily because the movement in this table includes the ef) Tj ET Q q 0 0 0 rg BT 348.05 604.10 Td (fects of acquisition accounting, which does not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 592.10 Td (impact tax expense.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 129.14 592.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 571.10 Td (The Company recognizes deferred tax balances related to the undistributed earnings of subsidiaries when the Company expects ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 559.10 Td (that it will recover those undistributed earnings in a taxable manner) Tj ET Q q 0 0 0 rg BT 319.52 559.10 Td (, such as through receipt of dividends or sale of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 547.10 Td (investments. Historically) Tj ET Q q 0 0 0 rg BT 149.34 547.10 Td (, we have not provided deferred taxes on the cumulative earnings of our subsidiaries that have been ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 535.10 Td (reinvested indefinitely) Tj ET Q q 0 0 0 rg BT 139.04 535.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 144.04 535.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (As a result of the Mer) Tj ET Q q 0 0 0 rg BT 137.29 514.10 Td (ger) Tj ET Q q 0 0 0 rg BT 149.66 514.10 Td (, and our plan to restructure certain foreign operations or distribute accumulated earnings of certain ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (acquired ) Tj ET Q q 0 0 0 rg BT 86.74 502.10 Td (T) Tj ET Q q 0 0 0 rg BT 92.15 502.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 118.35 502.10 Td (W) Tj ET Q q 0 0 0 rg BT 126.99 502.10 Td (atson subsidiaries, we recorded a deferred tax liability of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.68 502.10 Td ($77 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.07 502.10 Td ( on outside basis dif) Tj ET Q q 0 0 0 rg BT 485.89 502.10 Td (ferences and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td (cumulative earnings through goodwill. ) Tj ET Q q 0 0 0 rg BT 207.29 490.10 Td (W) Tj ET Q q 0 0 0 rg BT 215.93 490.10 Td (e continue to assert that the historical cumulative earnings of our other subsidiaries ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (are reinvested indefinitely and we do not provide deferred tax liabilities on these amounts. ) Tj ET Q q 0 0 0 rg BT 415.82 478.10 Td (The cumulative earnings related to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.10 Td (amounts reinvested indefinitely as of December 31, 2016 were approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.51 466.10 Td ($5.9 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.62 466.10 Td (. It is not practicable to estimate the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.10 Td (tax liability that might be payable if such earnings are not reinvested indefinitely) Tj ET Q q 0 0 0 rg BT 372.03 454.10 Td (. If future events, including material changes in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (estimates of cash, working capital, long-term investment requirements or U.S. tax reform necessitate that these earnings be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (distributed, an additional provision for income and foreign withholding taxes, net of credits, may be necessary) Tj ET Q q 0 0 0 rg BT 490.35 430.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.35 430.10 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 409.10 Td (Uncertain tax positions) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 146.13 409.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 388.10 Td (At December 31, 2016, the amount of unrecognized tax benefits associated with uncertain tax positions, determined in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 376.10 Td (accordance with ) Tj ET Q q 0 0 0 rg BT 117.19 376.10 Td (ASC740-10, excluding interest and penalties, was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.87 376.10 Td ($56 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.26 376.10 Td (. ) Tj ET Q q 0 0 0 rg BT 373.08 376.10 Td (This liability can be reduced by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.93 376.10 Td ($4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.32 376.10 Td ( of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 364.10 Td (of) Tj ET Q q 0 0 0 rg BT 58.15 364.10 Td (fsetting deferred tax benefits associated with timing dif) Tj ET Q q 0 0 0 rg BT 278.74 364.10 Td (ferences, foreign tax credits and the federal tax benefit of state income ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 352.10 Td (taxes. If recognized, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 133.57 352.10 Td ($52 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 179.96 352.10 Td ( of this dif) Tj ET Q q 0 0 0 rg BT 221.17 352.10 Td (ference would impact our ef) Tj ET Q q 0 0 0 rg BT 333.71 352.10 Td (fective tax rate.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.62 352.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 331.10 Td (A) Tj ET Q q 0 0 0 rg BT 56.67 331.10 Td ( reconciliation of the beginning and ending balances of the liability for unrecognized tax benefits is as follows:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.59 331.10 Td ( ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 308.60 330.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 308.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 308.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 308.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 308.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 308.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 280.60 330.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 280.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 280.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 280.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 280.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 280.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 252.60 330.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 252.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 252.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 252.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 252.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 252.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 224.60 330.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 224.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 224.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 224.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 224.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 224.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 196.60 330.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 196.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 196.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 196.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 196.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 196.60 58.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 308.6 m 438.5 308.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 308.6 m 500.5 308.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 308.6 m 562.5 308.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 308.6 m 438.5 308.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 308.6 m 500.5 308.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 196.60000000000002 m 438.5 196.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 196.60000000000002 m 500.5 196.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 196.60000000000002 m 562.5 196.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 183.60000000000002 m 438.5 183.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 181.60000000000002 m 438.5 181.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 183.60000000000002 m 500.5 183.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 181.60000000000002 m 500.5 181.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 183.60000000000002 m 562.5 183.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 181.60000000000002 m 562.5 181.60000000000002 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 401.00 312.68 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 463.00 312.68 Td (2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 525.00 312.68 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 299.17 Td (Balance at beginning of year) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 299.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 299.17 Td (22) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 299.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 299.17 Td (19) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 299.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 299.17 Td (41) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 285.17 Td (Increases related to acquisitions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 285.17 Td (33) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.65 285.17 Td (8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 285.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 271.17 Td (Increases related to tax positions in prior years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.65 271.17 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.65 271.17 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 271.17 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 257.17 Td (Decreases related to tax positions in prior years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.30 257.22 Td (\(9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 257.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.30 257.22 Td (\(6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 257.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 257.22 Td (\(32) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 257.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 243.17 Td (Decreases related to settlements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.30 243.22 Td (\(1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 243.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 243.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 243.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 229.17 Td (Decreases related to lapse in statute of limitations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.30 229.22 Td (\(1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 229.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 229.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 229.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 215.17 Td (Increases related to current year tax positions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 215.17 Td (11) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.65 215.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 215.17 Td (8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 201.17 Td (Cumulative translation adjustment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 201.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.30 201.22 Td (\(2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 201.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 201.22 Td (\(1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 201.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 187.17 Td (Balance at end of year) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 187.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 187.17 Td (56) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 187.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 187.17 Td (22) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 187.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 187.17 Td (19) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 162.10 Td (The liability for the years ended December 31, 2015 and 2014, respectively) Tj ET Q q 0 0 0 rg BT 351.19 162.10 Td (, had ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.13 162.10 Td (nil) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.69 162.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.13 162.10 Td ($2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.52 162.10 Td ( of deferred tax benefits that, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 150.10 Td (if recognized, would have a favorable impact on our ef) Tj ET Q q 0 0 0 rg BT 269.17 150.10 Td (fective tax rate. In addition, there are no material balances that would ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 138.10 Td (result in adjustments to other tax accounts. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 223.30 138.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 117.10 Td (Interest and penalties related to unrecognized tax benefits are included as a component of income tax expense. ) Tj ET Q q 0 0 0 rg BT 495.66 117.10 Td (At December ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 105.10 Td (31, 2016, we had cumulative accrued interest of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 244.38 105.10 Td ($4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 285.77 105.10 Td (. ) Tj ET Q q 0 0 0 rg BT 292.71 105.10 Td (At December 31, 2015, the cumulative accrued interest was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 93.10 Td (immaterial. Penalties accrued in 2016 and 2015, respectively) Tj ET Q q 0 0 0 rg BT 292.88 93.10 Td (, were immaterial.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.63 93.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 72.10 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 72.10 Td (ax expense for the years ended December 31, 2016 and 2015 include interest benefits of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.28 72.10 Td ($1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.67 72.10 Td (, and nil, respectively) Tj ET Q q 0 0 0 rg BT 536.83 72.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.33 72.10 Td ( ) Tj ET Q endstream endobj 203 0 obj <> endobj 204 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.50 31.60 Td (101) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (The Company believes that the outcomes which are reasonably possible within the next 12 months may result in a reduction in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (the liability for uncertain tax positions in the range of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 266.05 730.10 Td ($3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.45 730.10 Td ( to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.22 730.10 Td ($6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.62 730.10 Td (, excluding interest and penalties. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.96 730.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 709.10 Td (The Company and its subsidiaries file income tax returns in various tax jurisdictions in which it operates. During calendar year ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 697.10 Td (2016 the Company recognized approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 235.22 697.10 Td ($3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 276.62 697.10 Td ( of income tax benefits, including interest and penalties due to U.S. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 685.10 Td (Federal lapses in statutes of limitations and ef) Tj ET Q q 0 0 0 rg BT 232.83 685.10 Td (fective settlements related to fiscal year 2015.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.37 685.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 664.10 Td (W) Tj ET Q q 0 0 0 rg BT 59.04 664.10 Td (illis North ) Tj ET Q q 0 0 0 rg BT 101.82 664.10 Td (America Inc. is not currently under examination by the U.S. Internal Revenue Service \(IRS\). ) Tj ET Q q 0 0 0 rg BT 481.15 664.10 Td (Although tax years ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 652.10 Td (2008 through 2012 are closed, the IRS could make adjustments \(but not assess additional tax\) up to the amount of net operating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 640.10 Td (losses carried forward from those years and utilized in open years. ) Tj ET Q q 0 0 0 rg BT 317.50 640.10 Td (T) Tj ET Q q 0 0 0 rg BT 322.92 640.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 349.12 640.10 Td (W) Tj ET Q q 0 0 0 rg BT 357.75 640.10 Td (atson & Co. is currently being audited by the IRS ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 628.10 Td (under the Compliance ) Tj ET Q q 0 0 0 rg BT 140.25 628.10 Td (Assurance Process \(CAP\) for the short tax period July 1, 2015 to January 4, 2016. Under CAP) Tj ET Q q 0 0 0 rg BT 525.75 628.10 Td (, the IRS ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 616.10 Td (works with lar) Tj ET Q q 0 0 0 rg BT 107.59 616.10 Td (ge business taxpayers to identify and resolve issues prior to the filing of a tax return. ) Tj ET Q q 0 0 0 rg BT 450.10 616.10 Td (This is ) Tj ET Q q 0 0 0 rg BT 479.37 616.10 Td (T) Tj ET Q q 0 0 0 rg BT 484.78 616.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 510.98 616.10 Td (W) Tj ET Q q 0 0 0 rg BT 519.62 616.10 Td (atson & ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 604.10 Td (Co.) Tj ET Q q 0 0 0 rg BT 66.95 604.10 Td (s last year in the CAP) Tj ET Q q 0 0 0 rg BT 153.51 604.10 Td ( program. ) Tj ET Q q 0 0 0 rg BT 196.84 604.10 Td (As of December 31, 2016, the Company has not been advised of any significant ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 592.10 Td (adjustments. ) Tj ET Q q 0 0 0 rg BT 102.59 592.10 Td (W) Tj ET Q q 0 0 0 rg BT 111.23 592.10 Td (e also have ongoing state income tax examinations in certain states for tax years ranging from fiscal year ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 580.10 Td (June 30, 2012 through fiscal year ended June 30, 2014. ) Tj ET Q q 0 0 0 rg BT 275.33 580.10 Td (The statute of limitations in certain states extends back to 2002 as a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 568.10 Td (result of changes to taxable income resulting from prior year federal tax examinations. ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 547.10 Td (All U.K. tax returns have been filed timely and are in the normal process of being reviewed by HM Revenue & Customs. ) Tj ET Q q 0 0 0 rg BT 537.19 547.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 535.10 Td (Company is not currently subject to any material examinations in other jurisdictions. ) Tj ET Q q 0 0 0 rg BT 395.77 535.10 Td (A) Tj ET Q q 0 0 0 rg BT 402.44 535.10 Td ( summary of the tax years that remain ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 523.10 Td (open to tax examination in our major tax jurisdictions are as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 492.60 432.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 492.60 80.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 464.60 432.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 464.60 80.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 436.60 432.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 436.60 80.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 408.60 432.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 408.60 80.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 492.6 m 562.5 492.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 492.6 m 562.5 492.6 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 496.85 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 495.00 504.68 Td (Open ) Tj ET Q q 0 0 0 rg BT 515.53 504.68 Td (T) Tj ET Q q 0 0 0 rg BT 520.13 504.68 Td (ax ) Tj ET Q q 0 0 0 rg BT 529.83 504.68 Td (Y) Tj ET Q q 0 0 0 rg BT 534.72 504.68 Td (ears) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 485.05 496.68 Td (\(fiscalyear) Tj ET Q q 0 0 0 rg BT 522.44 496.68 Td (endingin\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 483.17 Td (U.S. federal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.45 483.17 Td (2013andforward) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 469.17 Td (U.S. various states) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.45 469.17 Td (2002 and forward) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 455.17 Td (U.K.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.45 455.17 Td (2010 and forward) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 441.17 Td (Ireland) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.45 441.17 Td (2013 and forward) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 427.17 Td (France) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.45 427.17 Td (2010 and forward) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 413.17 Td (Germany) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.45 413.17 Td (2002 and forward) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 399.17 Td (Canada - federal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.45 399.17 Td (2009 and forward) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 205 0 obj <> endobj 206 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.50 31.60 Td (102) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (Note 7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 77.49 742.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.99 742.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 92.49 742.25 Td (Fixed ) Tj ET Q q 0 0 0 rg BT 118.33 742.25 Td (Assets ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 147.49 742.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 727.25 Td (The following table reflects changes in the net carrying amount of the components of fixed assets for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.98 727.25 Td (year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.56 727.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 715.25 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.58 715.25 Td ( and 2015:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 675.75 268.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 675.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 675.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 675.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 675.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 675.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 675.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 675.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 647.75 268.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 647.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 647.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 647.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 647.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 647.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 647.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 647.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 619.75 268.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 619.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 619.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 619.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 619.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 619.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 619.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 619.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 591.75 268.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 591.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 591.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 591.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 591.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 591.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 591.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 591.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 563.75 268.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 563.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 563.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 563.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 563.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 563.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 563.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 563.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 535.75 268.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 535.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 535.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 535.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 535.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 535.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 535.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 535.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 507.75 268.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 507.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 507.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 507.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 507.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 507.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 507.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 507.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 479.75 268.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 479.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 479.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 479.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 479.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 479.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 479.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 479.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 451.75 268.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 451.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 451.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 451.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 451.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 451.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 451.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 451.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 423.75 268.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 423.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 423.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 423.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 423.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 423.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 423.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 423.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 395.75 268.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 395.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 395.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 395.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 395.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 395.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 395.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 395.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 367.75 268.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 367.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 367.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 367.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 367.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 367.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 367.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 367.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 339.75 268.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 339.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 339.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 339.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 339.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 339.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 339.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 339.75 58.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 675.75 m 376.5 675.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 675.75 m 438.5 675.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 675.75 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 318.5 675.75 m 376.5 675.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 675.75 m 438.5 675.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 675.75 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 318.5 605.75 m 376.5 605.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 605.75 m 438.5 605.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 605.75 m 500.5 605.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 605.75 m 562.5 605.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 535.75 m 376.5 535.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 535.75 m 438.5 535.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 535.75 m 500.5 535.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 535.75 m 562.5 535.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 521.75 m 376.5 521.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 535.75 m 438.5 535.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 521.75 m 438.5 521.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 535.75 m 500.5 535.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 521.75 m 500.5 521.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 521.75 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 318.5 451.75 m 376.5 451.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 451.75 m 438.5 451.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 451.75 m 500.5 451.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 451.75 m 562.5 451.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 395.75 m 376.5 395.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 395.75 m 438.5 395.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 395.75 m 500.5 395.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 395.75 m 562.5 395.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 381.75 m 376.5 381.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 381.75 m 438.5 381.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 381.75 m 500.5 381.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 381.75 m 562.5 381.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 354.75 m 376.5 354.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 352.75 m 376.5 352.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 354.75 m 438.5 354.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 352.75 m 438.5 352.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 354.75 m 500.5 354.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 352.75 m 500.5 352.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 354.75 m 562.5 354.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 352.75 m 562.5 352.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 326.75 m 376.5 326.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 324.75 m 376.5 324.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 326.75 m 438.5 326.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 324.75 m 438.5 324.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 326.75 m 500.5 326.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 324.75 m 500.5 324.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 326.75 m 562.5 326.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 324.75 m 562.5 324.75 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 329.15 695.98 Td (Furnitur) Tj ET Q q 0 0 0 rg BT 359.23 695.98 Td (e,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 321.30 687.98 Td (equipment and ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 332.40 679.98 Td (softwar) Tj ET Q q 0 0 0 rg BT 358.02 679.98 Td (e) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 391.65 687.98 Td (Leasehold) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 384.60 679.98 Td (impr) Tj ET Q q 0 0 0 rg BT 401.34 679.98 Td (ovements) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 454.40 687.98 Td (Land and) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 455.20 679.98 Td (buildings ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 524.25 679.98 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 666.32 Td (Cost: at January1, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.00 666.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.65 666.32 Td (642) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 666.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 666.32 Td (245) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 666.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 666.32 Td (93) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 666.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 666.32 Td (980) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 652.32 Td (Additions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.65 652.32 Td (119) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 652.32 Td (27) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 652.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 652.32 Td (146) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 638.32 Td (Acquisitions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.65 638.32 Td (26) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 638.32 Td (26) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.65 638.32 Td (5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 638.32 Td (57) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 624.32 Td (Disposals) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.30 624.37 Td (\(31) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.65 624.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.30 624.37 Td (\(16) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 624.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 624.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 624.37 Td (\(47) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 624.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 610.32 Td (Foreign exchange) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.30 610.37 Td (\(32) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.65 610.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.30 610.37 Td (\(10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 610.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.30 610.37 Td (\(3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 610.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 610.37 Td (\(45) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 610.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 596.32 Td (Cost: at December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.65 596.32 Td (724) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 596.32 Td (272) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 596.32 Td (95) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 596.32 Td (1,091) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 582.32 Td (Additions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.65 582.32 Td (265) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 582.32 Td (44) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.65 582.32 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 582.32 Td (311) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 568.32 Td (Acquisitions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.65 568.32 Td (109) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 568.32 Td (95) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 568.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 568.32 Td (204) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 554.32 Td (Disposals) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.30 554.37 Td (\(28) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.65 554.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.30 554.37 Td (\(8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 554.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 554.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 554.37 Td (\(36) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 554.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 540.32 Td (Foreign exchange) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.30 540.37 Td (\(61) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.65 540.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.30 540.37 Td (\(21) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 540.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.30 540.37 Td (\(7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 540.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 540.37 Td (\(89) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 540.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 526.32 Td (Cost: at December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.00 526.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.15 526.32 Td (1,009) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 526.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 526.32 Td (382) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 526.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 526.32 Td (90) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 526.32 Td (1,481) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 498.32 Td (Depreciation: at January1, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.00 498.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.30 498.37 Td (\(366) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.65 498.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 498.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.30 498.37 Td (\(93) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 498.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 498.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.30 498.37 Td (\(38) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 498.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 498.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 498.37 Td (\(497) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 498.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 484.32 Td (Depreciation expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.30 484.37 Td (\(72) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.65 484.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.30 484.37 Td (\(19) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 484.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.30 484.37 Td (\(4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 484.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 484.37 Td (\(95) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 484.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 470.32 Td (Disposals) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.65 470.32 Td (28) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 470.32 Td (14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 470.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 470.32 Td (42) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 456.32 Td (Foreign exchange) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.65 456.32 Td (17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.65 456.32 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.65 456.32 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 456.32 Td (22) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 442.32 Td (Depreciation: at December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.30 442.37 Td (\(393) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.65 442.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.30 442.37 Td (\(94) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 442.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.30 442.37 Td (\(41) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 442.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 442.37 Td (\(528) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 442.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 428.32 Td (Depreciation expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.30 428.37 Td (\(119) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.65 428.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.30 428.37 Td (\(55) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 428.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.30 428.37 Td (\(4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 428.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 428.37 Td (\(178) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 428.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 414.32 Td (Disposals) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.65 414.32 Td (17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.65 414.32 Td (5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 414.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 414.32 Td (22) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 400.32 Td (Foreign exchange) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.65 400.32 Td (31) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.65 400.32 Td (7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.65 400.32 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 400.32 Td (42) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 386.32 Td (Depreciation: at December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.00 386.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.30 386.37 Td (\(464) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.65 386.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 386.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.30 386.37 Td (\(137) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 386.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 386.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.30 386.37 Td (\(41) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 386.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 386.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 386.37 Td (\(642) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 386.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 372.32 Td (Net book value:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.00 372.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.00 372.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.00 372.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.00 372.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 358.32 Td (At December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.00 358.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.65 358.32 Td (331) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 358.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 358.32 Td (178) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 358.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 358.32 Td (54) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 358.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 358.32 Td (563) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 330.32 Td (At December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.00 330.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.65 330.32 Td (545) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 330.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 330.32 Td (245) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 330.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 330.32 Td (49) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 330.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 330.32 Td (839) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 304.65 Td (Included within land and buildings are the following assets held under capital leases: ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.86 304.65 Td ( ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 268.15 392.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.50 268.15 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.50 268.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 268.15 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 240.15 392.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.50 240.15 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.50 240.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 240.15 58.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 281.15 m 499.5 281.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 281.15 m 561.5 281.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 281.15 m 499.5 281.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 268.15 m 499.5 268.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 281.15 m 561.5 281.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 268.15 m 561.5 268.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 268.15 m 499.5 268.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 268.15 m 561.5 268.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 240.14999999999998 m 499.5 240.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 227.14999999999998 m 499.5 227.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 225.14999999999998 m 499.5 225.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 240.14999999999998 m 561.5 240.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 227.14999999999998 m 561.5 227.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 225.14999999999998 m 561.5 225.14999999999998 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 477.75 285.38 Td (December 31,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 462.00 272.38 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 524.00 272.38 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 258.72 Td (Capital leases) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.00 258.72 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.65 258.72 Td (32) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.00 258.72 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 258.72 Td (32) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 244.72 Td (Accumulated depreciation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.30 244.77 Td (\(12) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 244.72 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.30 244.77 Td (\(10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 244.72 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.00 230.72 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.65 230.72 Td (20) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.00 230.72 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 230.72 Td (22) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 205.65 Td (Depreciation related to capital leases was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 217.70 205.65 Td ($2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.09 205.65 Td ( for each of the years ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.09 205.65 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.67 205.65 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.67 205.65 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.67 205.65 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.11 205.65 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.11 205.65 Td (.) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 184.65 Td (Note 8) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 77.49 184.65 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 92.49 184.65 Td (Goodwill and Other) Tj ET Q q 0 0 0 rg BT 177.88 184.65 Td ( Intangible ) Tj ET Q q 0 0 0 rg BT 226.23 184.65 Td (Assets) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 252.89 184.65 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 163.65 Td (Goodwill) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 88.90 163.65 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 142.65 Td (Goodwill represents the excess of the cost of businesses acquired over the fair market value of identifiable net assets at the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 130.65 Td (dates of acquisition. Goodwill is not amortized but is subject to impairment testing annually and whenever facts or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 118.65 Td (circumstances indicate that the carrying amounts may not be recoverable. Goodwill is allocated to our reporting units primarily ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 106.65 Td (based on the original purchase price allocation for acquisitions within the reporting units, or relative fair value when an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 94.65 Td (acquisition covers multiple reporting units. ) Tj ET Q q 0 0 0 rg BT 224.23 94.65 Td (When a business entity is sold, goodwill is allocated to the entity disposed of based ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 82.65 Td (on the relative fair value of that entity compared with the fair value of the reporting unit in which it is included.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.42 82.65 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 61.65 Td (During the second quarter of 2016, the Company changed the way it manages and reports operating results, resulting in a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 49.65 Td (change in the Company) Tj ET Q q 0 0 0 rg BT 147.48 49.65 Td (s operating and reportable segments from the Legacy Company platforms into ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.67 49.65 Td (four) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.33 49.65 Td ( integrated ) Tj ET Q endstream endobj 207 0 obj <> endobj 208 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.50 31.60 Td (103) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (reportable operating segments: Human Capital and Benefits; Corporate Risk and Broking; Investment, Risk and Reinsurance; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (and Exchange Solutions. See ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 171.09 730.10 Td (Note 4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 198.03 730.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 213.03 730.10 Td (Segment Information) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.29 730.10 Td ( for a description of our segments. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.70 730.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 709.10 Td (The components of goodwill are outlined below for the years ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.53 709.10 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.11 709.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.55 709.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.55 709.10 Td (:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 669.60 206.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.50 669.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 669.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 669.60 58.00 -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 50.50 643.60 206.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.50 643.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 643.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 643.60 58.00 -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 50.50 617.60 206.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.50 617.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 617.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 617.60 58.00 -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 50.50 591.60 206.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.50 591.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 591.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 591.60 58.00 -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 50.50 565.60 206.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.50 565.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 565.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 565.60 58.00 -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 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 539.60 206.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.50 539.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 539.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 539.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 539.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 539.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 539.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 539.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 539.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 539.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 513.60 206.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.50 513.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 513.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 513.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 513.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 513.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 513.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 513.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 513.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 513.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 487.60 206.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.50 487.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 487.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 487.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 487.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 487.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 487.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 487.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 487.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 487.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 461.60 206.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.50 461.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 461.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 461.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 461.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 461.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 461.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 461.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 461.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 461.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 435.60 206.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.50 435.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 435.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 435.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 435.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 435.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 435.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 435.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 435.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 435.60 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 256.5 669.6 m 314.5 669.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 669.6 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 256.5 669.6 m 314.5 669.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 669.6 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 256.5 630.6 m 314.5 630.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 630.6 m 376.5 630.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 630.6 m 438.5 630.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 630.6 m 500.5 630.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 630.6 m 562.5 630.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256.5 565.6 m 314.5 565.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 565.6 m 376.5 565.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 565.6 m 438.5 565.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 565.6 m 500.5 565.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 565.6 m 562.5 565.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256.5 526.6 m 314.5 526.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 526.6 m 376.5 526.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 526.6 m 438.5 526.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 526.6 m 500.5 526.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 526.6 m 562.5 526.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256.5 461.6 m 314.5 461.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 461.6 m 376.5 461.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 461.6 m 438.5 461.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 461.6 m 500.5 461.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 461.6 m 562.5 461.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256.5 422.6 m 314.5 422.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 422.6 m 376.5 422.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 422.6 m 438.5 422.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 422.6 m 500.5 422.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 422.6 m 562.5 422.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256.5 410.6 m 314.5 410.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256.5 408.6 m 314.5 408.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 410.6 m 376.5 410.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 408.6 m 376.5 408.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 410.6 m 438.5 410.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 408.6 m 438.5 408.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 410.6 m 500.5 410.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 408.6 m 500.5 408.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 410.6 m 562.5 410.6 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 BT /F2 9.00 Tf ET q 0 0 0 rg BT 275.20 674.05 Td (HCB) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 337.45 674.05 Td (CRB) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 400.70 674.05 Td (IRR) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 465.45 674.05 Td (ES) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 523.15 674.05 Td (T) Tj ET Q q 0 0 0 rg BT 528.33 674.05 Td (otal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 660.17 Td (Balance at December 31, 2014 ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 178.50 664.70 Td (\(i\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 647.17 Td (Goodwill, gross) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.00 647.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.65 647.17 Td (677) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.00 647.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.15 647.17 Td (1,897) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 647.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 647.17 Td (855) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 647.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 647.17 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 536.15 647.17 Td (3,429) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 634.17 Td (Accumulated impairment losses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.30 634.22 Td (\(130) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.65 634.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.30 634.22 Td (\(362) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.65 634.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 634.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 634.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 634.22 Td (\(492) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 634.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 621.17 Td (Goodwill, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.65 621.17 Td (547) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.15 621.17 Td (1,535) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 621.17 Td (855) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 621.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 621.17 Td (2,937) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 608.17 Td (Purchase price allocation adjustments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.65 608.17 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.65 608.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 608.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 608.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 608.17 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 595.17 Td (Goodwill acquired during the period) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.65 595.17 Td (330) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.65 595.17 Td (348) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 595.17 Td (187) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 595.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 595.17 Td (865) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 582.17 Td (Goodwill disposed of during the period) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.30 582.22 Td (\(3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.65 582.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.30 582.22 Td (\(9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.65 582.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.30 582.22 Td (\(1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 582.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 582.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 582.22 Td (\(13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 582.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 569.17 Td (Foreign exchange) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.30 569.22 Td (\(19) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.65 569.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.30 569.22 Td (\(24) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.65 569.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.30 569.22 Td (\(10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 569.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 569.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 569.22 Td (\(53) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 569.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 556.17 Td (Balance at December 31, 2015 ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 178.50 560.70 Td (\(i\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 543.17 Td (Goodwill, gross) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.00 543.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.65 543.17 Td (986) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.00 543.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.15 543.17 Td (2,212) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 543.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.15 543.17 Td (1,031) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 543.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 543.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 543.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 543.17 Td (4,229) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 530.17 Td (Accumulated impairment losses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.30 530.22 Td (\(130) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.65 530.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.30 530.22 Td (\(362) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.65 530.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 530.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 530.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 530.22 Td (\(492) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 530.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 517.17 Td (Goodwill, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.65 517.17 Td (856) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.15 517.17 Td (1,850) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.15 517.17 Td (1,031) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 517.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 517.17 Td (3,737) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 504.17 Td (Purchase price allocation adjustments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.65 504.17 Td (8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.65 504.17 Td (5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.30 504.22 Td (\(7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 504.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 504.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 504.17 Td (6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 491.17 Td (Goodwill acquired during the period ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 210.57 495.70 Td (\(ii\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.15 491.17 Td (3,458) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.65 491.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 491.17 Td (770) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.15 491.17 Td (2,557) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 491.17 Td (6,785) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 478.17 Td (Goodwill disposed of during the period) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.65 478.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.30 478.22 Td (\(5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.65 478.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 478.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 478.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 478.22 Td (\(5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 478.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 465.17 Td (Foreign exchange) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.30 465.22 Td (\(40) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.65 465.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.30 465.22 Td (\(34) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.65 465.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.30 465.22 Td (\(36) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 465.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 465.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 465.22 Td (\(110) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 465.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 452.17 Td (Balance at December 31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 439.17 Td (Goodwill, gross) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.15 439.17 Td (4,412) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.15 439.17 Td (2,178) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.15 439.17 Td (1,758) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.15 439.17 Td (2,557) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 439.17 Td (10,905) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 426.17 Td (Accumulated impairment losses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.30 426.22 Td (\(130) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.65 426.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.30 426.22 Td (\(362) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.65 426.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 426.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 426.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 426.22 Td (\(492) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 426.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 413.17 Td (Goodwill, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.00 413.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.15 413.17 Td (4,282) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.00 413.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.15 413.17 Td (1,816) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 413.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.15 413.17 Td (1,758) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 413.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.15 413.17 Td (2,557) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 413.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 413.17 Td (10,413) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 398.10 Td (____________________) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 150.00 398.10 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 68.00 385.50 Td (\(i\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 385.50 Td (The prior period comparatives have been retroactively reclassified for our segment reor) Tj ET Q q 0 0 0 rg BT 365.51 385.50 Td (ganization. See ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.38 385.50 Td (Note 4) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 439.93 385.50 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 451.93 385.50 Td (Segment Information) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 520.14 385.50 Td ( for further ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 375.90 Td (details.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 108.88 375.90 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 68.00 363.30 Td (\(ii\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 363.30 Td (Goodwill acquired consists primarily of goodwill recognized from the Mer) Tj ET Q q 0 0 0 rg BT 325.57 363.30 Td (ger) Tj ET Q q 0 0 0 rg BT 335.35 363.30 Td (.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 337.35 363.30 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 342.30 Td (Other) Tj ET Q q 0 0 0 rg BT 75.37 342.30 Td ( Intangible ) Tj ET Q q 0 0 0 rg BT 123.72 342.30 Td (Assets) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 150.38 342.30 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 321.30 Td (The following table reflects changes in the net carrying amount of the components of finite-lived intangible assets for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.35 321.30 Td (year ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 309.30 Td (ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 73.88 309.30 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.38 309.30 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 154.96 309.30 Td (:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 269.80 82.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 132.50 269.80 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 190.50 269.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 194.50 269.80 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 252.50 269.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.50 269.80 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 269.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 269.80 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 269.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 269.80 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 269.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 269.80 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 269.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 269.80 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 239.80 82.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 132.50 239.80 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 190.50 239.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 194.50 239.80 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 252.50 239.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.50 239.80 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 239.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 239.80 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 239.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 239.80 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 239.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 239.80 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 239.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 239.80 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 203.80 82.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 132.50 203.80 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 190.50 203.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 194.50 203.80 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 252.50 203.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.50 203.80 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 203.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 203.80 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 203.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 203.80 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 203.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 203.80 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 203.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 203.80 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 173.80 82.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 132.50 173.80 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 190.50 173.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 194.50 173.80 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 252.50 173.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.50 173.80 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 173.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 173.80 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 173.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 173.80 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 173.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 173.80 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 173.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 173.80 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 132.5 269.79999999999995 m 190.5 269.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 194.5 269.79999999999995 m 252.5 269.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256.5 269.79999999999995 m 314.5 269.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 269.79999999999995 m 376.5 269.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 269.79999999999995 m 438.5 269.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 269.79999999999995 m 500.5 269.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 269.79999999999995 m 562.5 269.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 132.5 158.79999999999995 m 190.5 158.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 194.5 158.79999999999995 m 252.5 158.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256.5 158.79999999999995 m 314.5 158.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 158.79999999999995 m 376.5 158.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 158.79999999999995 m 438.5 158.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 158.79999999999995 m 500.5 158.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 158.79999999999995 m 562.5 158.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 132.5 138.79999999999995 m 190.5 138.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 132.5 136.79999999999995 m 190.5 136.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 194.5 138.79999999999995 m 252.5 138.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 194.5 136.79999999999995 m 252.5 136.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256.5 138.79999999999995 m 314.5 138.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256.5 136.79999999999995 m 314.5 136.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 138.79999999999995 m 376.5 138.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 136.79999999999995 m 376.5 136.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 138.79999999999995 m 438.5 138.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 136.79999999999995 m 438.5 136.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 138.79999999999995 m 500.5 138.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 136.79999999999995 m 500.5 136.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 138.79999999999995 m 562.5 138.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 136.79999999999995 m 562.5 136.79999999999995 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 138.55 290.03 Td (Balance as of ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 137.75 282.03 Td (December) Tj ET Q q 0 0 0 rg BT 172.25 282.03 Td ( 31, ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 153.00 274.03 Td (2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 197.60 290.03 Td (Pur) Tj ET Q q 0 0 0 rg BT 210.34 290.03 Td (chase price ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 206.30 282.03 Td (allocation ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 202.10 274.03 Td (adjustments) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 267.40 282.03 Td (Intangible ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 259.15 274.03 Td (assets acquir) Tj ET Q q 0 0 0 rg BT 302.78 274.03 Td (ed) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 329.40 282.03 Td (Intangible) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 321.50 274.03 Td (assets disposed) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 386.10 282.03 Td (Amortization) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 404.30 274.03 Td ( ) Tj ET Q BT /F2 6.00 Tf ET q 0 0 0 rg BT 406.30 274.03 Td (\(ii\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 457.70 282.03 Td (For) Tj ET Q q 0 0 0 rg BT 469.99 282.03 Td (eign ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 454.30 274.03 Td (Exchange) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 510.55 290.03 Td (Balance as of) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 509.75 282.03 Td (December 31,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 525.00 274.03 Td (2016) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 259.05 Td (Client relationships) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.00 259.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 171.65 259.47 Td (920) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 197.00 259.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.65 259.47 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.00 259.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.15 259.47 Td (2,222) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.00 259.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.30 259.52 Td (\(5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.65 259.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 259.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.30 259.52 Td (\(395) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 259.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 259.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.30 259.52 Td (\(89) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 259.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 259.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 259.47 Td (2,655) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 244.05 Td (Management contracts) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 176.65 244.47 Td (62) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.65 244.47 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.65 244.47 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.65 244.47 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.30 244.52 Td (\(4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 244.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.30 244.52 Td (\(4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 244.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 244.47 Td (54) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 229.05 Td (Software ) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 83.88 232.68 Td (\(i\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 176.65 229.47 Td (77) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 235.30 229.47 Td (\(13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.65 229.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.65 229.47 Td (675) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.65 229.47 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.30 229.52 Td (\(142) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 229.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.30 229.52 Td (\(27) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 229.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 229.47 Td (570) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 216.05 Td (Trademark and trade) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 62.00 208.05 Td (name) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 176.65 208.47 Td (50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.65 208.47 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.15 208.47 Td (1,003) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.65 208.47 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.30 208.52 Td (\(45) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 208.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.30 208.52 Td (\(3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 208.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 208.47 Td (1,006) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 193.05 Td (Product) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 176.65 193.47 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.65 193.47 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.65 193.47 Td (42) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.65 193.47 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.30 193.52 Td (\(3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 193.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.30 193.52 Td (\(6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 193.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 193.47 Td (33) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 178.05 Td (Favorable agreements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 181.65 178.47 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.65 178.47 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.65 178.47 Td (11) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.65 178.47 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.30 178.52 Td (\(2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 178.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 178.47 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 178.47 Td (11) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 163.05 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 181.65 163.47 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.65 163.47 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.65 163.47 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.65 163.47 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.30 163.52 Td (\(2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 163.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.65 163.47 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 163.47 Td (3) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 150.05 Td (Total amortizable) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 62.00 142.05 Td (intangible assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.00 142.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 164.15 142.47 Td (1,115) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 197.00 142.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 235.30 142.47 Td (\(10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.65 142.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.00 142.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.15 142.47 Td (3,953) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.00 142.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.30 142.52 Td (\(5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.65 142.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 142.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.30 142.52 Td (\(593) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 142.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 142.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.30 142.52 Td (\(128) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 142.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 142.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 142.47 Td (4,332) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 126.30 Td (____________________) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 150.00 126.30 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 68.00 113.70 Td (\(i\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 113.70 Td (In-process research and development intangible assets acquired as part of the Mer) Tj ET Q q 0 0 0 rg BT 347.75 113.70 Td (ger on January 4, 2016 of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 431.51 113.70 Td ($39 million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 468.63 113.70 Td ( \() Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 473.29 113.70 Td ($36 million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 510.40 113.70 Td ( at December ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 104.10 Td (31, 2016\) have not yet been placed in service and are not included in this present) Tj ET Q BT /F1 8.00 Tf ET 1 1 1 rg /GS0 gs 344.58 109.65 18.00 -7.27 re f /GS0 gs q 0 0 0 rg BT 344.58 104.10 Td (ation.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 362.58 104.10 Td ( ) Tj ET Q BT /F1 8.00 Tf ET 1 1 1 rg /GS0 gs 68.00 97.05 18.00 -7.27 re f /GS0 gs q 0 0 0 rg BT 68.00 91.50 Td (\(ii\) ) Tj ET Q BT /F1 8.00 Tf ET 1 1 1 rg /GS0 gs 86.00 97.05 439.41 -7.27 re f /GS0 gs q 0 0 0 rg BT 86.00 91.50 Td (Amortization associated with favorable agreements is recorded in other Operating expenses in the consolidated statements of operations. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 525.41 91.50 Td ( ) Tj ET Q endstream endobj 209 0 obj <> endobj 210 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.50 31.60 Td (104) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (The following table reflects changes in the net carrying amount of the components of finite-lived intangible assets for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.35 742.10 Td (year ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 73.88 730.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.38 730.10 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 154.96 730.10 Td (:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 684.60 144.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 194.50 684.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 252.50 684.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.50 684.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 684.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 684.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 684.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 684.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 684.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 684.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 684.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 684.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 654.60 144.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 194.50 654.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 252.50 654.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.50 654.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 654.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 654.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 654.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 654.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 654.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 654.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 654.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 654.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 624.60 144.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 194.50 624.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 252.50 624.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.50 624.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 624.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 624.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 624.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 624.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 624.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 624.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 624.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 624.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 594.60 144.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 194.50 594.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 252.50 594.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.50 594.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 594.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 594.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 594.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 594.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 594.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 594.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 594.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 594.60 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 194.5 684.6 m 252.5 684.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256.5 684.6 m 314.5 684.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 684.6 m 376.5 684.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 684.6 m 438.5 684.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 684.6 m 500.5 684.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 684.6 m 562.5 684.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 194.5 684.6 m 252.5 684.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256.5 684.6 m 314.5 684.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 684.6 m 376.5 684.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 684.6 m 438.5 684.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 684.6 m 500.5 684.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 684.6 m 562.5 684.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 194.5 594.6 m 252.5 594.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256.5 594.6 m 314.5 594.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 594.6 m 376.5 594.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 594.6 m 438.5 594.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 594.6 m 500.5 594.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 594.6 m 562.5 594.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 194.5 594.6 m 252.5 594.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 194.5 580.6 m 252.5 580.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 194.5 578.6 m 252.5 578.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256.5 594.6 m 314.5 594.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256.5 580.6 m 314.5 580.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256.5 578.6 m 314.5 578.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 594.6 m 376.5 594.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 580.6 m 376.5 580.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 578.6 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 380.5 594.6 m 438.5 594.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 580.6 m 438.5 580.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 578.6 m 438.5 578.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 594.6 m 500.5 594.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 580.6 m 500.5 580.6 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 504.5 594.6 m 562.5 594.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 580.6 m 562.5 580.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 578.6 m 562.5 578.6 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 200.55 704.83 Td (Balance as of) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 199.75 696.83 Td (December 31,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 215.00 688.83 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 267.40 696.83 Td (Intangible) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 259.15 688.83 Td (assets acquired) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 329.40 696.83 Td (Intangible) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 321.50 688.83 Td (assets disposed) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 386.10 688.83 Td (Amortization) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 457.70 696.83 Td (Foreign) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 454.30 688.83 Td (Exchange) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 510.55 704.83 Td (Balance as of) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 509.75 696.83 Td (December 31,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 525.00 688.83 Td (2015) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 674.06 Td (Client relationships) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 197.00 674.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 233.65 674.27 Td (373) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.00 674.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.65 674.27 Td (642) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.00 674.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.30 674.32 Td (\(5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.65 674.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 674.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.30 674.32 Td (\(69) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 674.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 674.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.30 674.32 Td (\(21) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 674.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 674.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 674.27 Td (920) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 659.06 Td (Management contracts) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.65 659.27 Td (70) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.65 659.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.65 659.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.30 659.32 Td (\(4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 659.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.30 659.32 Td (\(4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 659.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 659.27 Td (62) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 644.06 Td (Software) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.65 644.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.65 644.27 Td (77) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.65 644.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 644.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 644.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 644.27 Td (77) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 629.06 Td (Trademark and trade name) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.65 629.27 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.65 629.27 Td (50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.65 629.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.30 629.32 Td (\(2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 629.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.30 629.32 Td (\(1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 629.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 629.27 Td (50) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 614.06 Td (Favorable agreements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.65 614.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.65 614.27 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.65 614.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 614.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 614.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 614.27 Td (2) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 599.06 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.65 599.27 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.65 599.27 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.65 599.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.30 599.32 Td (\(1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 599.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.30 599.32 Td (\(1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 599.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 599.27 Td (4) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 584.06 Td (Total amortizable intangible assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 197.00 584.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 233.65 584.27 Td (450) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.00 584.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.65 584.27 Td (773) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.00 584.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.30 584.32 Td (\(5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.65 584.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 584.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.30 584.32 Td (\(76) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 584.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 584.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.30 584.32 Td (\(27) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 584.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 584.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 584.27 Td (1,115) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 559.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 559.10 Td (e recorded amortization related to our finite-lived intangible assets, exclusive of the amortization of our favorable lease ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 547.10 Td (agreements, of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 111.36 547.10 Td ($591 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.75 547.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 167.75 547.10 Td ($76 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.15 547.10 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 236.08 547.10 Td ($54 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.48 547.10 Td ( for the years ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.83 547.10 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.41 547.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.41 547.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.41 547.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.85 547.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.85 547.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 535.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 97.66 535.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 100.16 535.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (Our acquired unfavorable lease liabilities were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 239.36 514.10 Td ($29 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 285.75 514.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.19 514.10 Td ($23 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.58 514.10 Td ( as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 375.74 514.10 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.33 514.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.76 514.10 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.35 514.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 97.66 502.10 Td (, and are recorded in the other non-current liabilities in the consolidated balance sheet.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.80 502.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 481.10 Td (The following table reflects the carrying value of finite-lived intangible assets and liabilities as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.37 481.10 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.96 481.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 469.10 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.58 469.10 Td (:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 414.60 268.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 414.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 414.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 414.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 414.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 414.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 414.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 414.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 384.60 268.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 384.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 384.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 384.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 384.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 384.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 384.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 384.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 354.60 268.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 354.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 354.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 354.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 354.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 354.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 354.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 354.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 324.60 268.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 324.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 324.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 324.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 324.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 324.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 324.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 324.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 294.60 268.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 294.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 294.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 294.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 294.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 294.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 294.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 294.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 264.60 268.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 264.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 264.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 264.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 264.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 264.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 264.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 264.60 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 318.5 443.6 m 376.5 443.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376.5 443.6 m 380.5 443.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 443.6 m 438.5 443.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 443.6 m 500.5 443.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500.5 443.6 m 504.5 443.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 443.6 m 562.5 443.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 414.6 m 376.5 414.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 414.6 m 438.5 414.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 414.6 m 500.5 414.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 414.6 m 562.5 414.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 309.6 m 376.5 309.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 309.6 m 438.5 309.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 309.6 m 500.5 309.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 309.6 m 562.5 309.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 295.6 m 376.5 295.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 293.6 m 376.5 293.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 295.6 m 438.5 295.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 293.6 m 438.5 293.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 295.6 m 500.5 295.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 293.6 m 500.5 293.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 295.6 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 504.5 293.6 m 562.5 293.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 264.6 m 376.5 264.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 264.6 m 438.5 264.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 264.6 m 500.5 264.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 264.6 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 318.5 250.60000000000002 m 376.5 250.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 248.60000000000002 m 376.5 248.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 250.60000000000002 m 438.5 250.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 248.60000000000002 m 438.5 248.60000000000002 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 442.5 248.60000000000002 m 500.5 248.60000000000002 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 504.5 248.60000000000002 m 562.5 248.60000000000002 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 345.75 447.83 Td (December 31, 2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 469.75 447.83 Td (December 31, 2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 337.05 434.83 Td (Gr) Tj ET Q q 0 0 0 rg BT 346.68 434.83 Td (oss ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 331.20 426.83 Td (Carrying ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 332.95 418.83 Td (Amount) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 386.30 426.83 Td (Accumulated ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 386.10 418.83 Td (Amortization) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 461.05 434.83 Td (Gr) Tj ET Q q 0 0 0 rg BT 470.68 434.83 Td (oss ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 455.20 426.83 Td (Carrying ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 456.95 418.83 Td (Amount) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 510.30 426.83 Td (Accumulated ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 510.10 418.83 Td (Amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 404.27 Td (Client relationships) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.00 404.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.15 404.27 Td (3,396) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 404.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.30 404.32 Td (\(741) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 404.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 404.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.15 404.27 Td (1,293) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 404.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 404.32 Td (\(373) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 404.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 389.27 Td (Management contracts) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.65 389.27 Td (62) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.30 389.32 Td (\(8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 389.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 389.27 Td (67) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 389.32 Td (\(5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 389.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 374.27 Td (Software) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.65 374.27 Td (711) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.30 374.32 Td (\(141) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 374.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 374.27 Td (77) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 374.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 359.27 Td (Trademark and trade name) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.15 359.27 Td (1,051) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.30 359.32 Td (\(45) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 359.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 359.27 Td (52) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 359.32 Td (\(2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 359.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 344.27 Td (Product) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.65 344.27 Td (36) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.30 344.32 Td (\(3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 344.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 344.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 344.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 329.27 Td (Favorable agreements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.65 329.27 Td (13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.30 329.32 Td (\(2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 329.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.65 329.27 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 329.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 314.27 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.65 314.27 Td (6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.30 314.32 Td (\(3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 314.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.65 314.27 Td (8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 314.32 Td (\(4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 314.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 299.27 Td (Total finite-lived assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.00 299.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.15 299.27 Td (5,275) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 299.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.30 299.32 Td (\(943) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 299.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 299.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.15 299.27 Td (1,499) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 299.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 299.32 Td (\(384) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 299.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 269.27 Td (Unfavorable agreements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.00 269.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.65 269.27 Td (34) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 269.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.30 269.32 Td (\(5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 269.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 269.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 269.27 Td (23) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 269.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 269.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 254.27 Td (T) Tj ET Q q 0 0 0 rg BT 58.41 254.27 Td (otal finite-lived intangible liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.00 254.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.65 254.27 Td (34) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 254.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.30 254.32 Td (\(5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 254.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 254.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 254.27 Td (23) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 254.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 254.27 Td () Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 229.10 Td (The weighted average remaining life of amortizable intangible assets and liabilities at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.87 229.10 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.46 229.10 Td ( was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.01 229.10 Td (14.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.51 229.10 Td ( years.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.61 229.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 208.10 Td (The table below reflects the future estimated amortization expense for amortizable intangible assets and the rent of) Tj ET Q q 0 0 0 rg BT 508.53 208.10 Td (fset resulting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 196.10 Td (from amortization of the net lease intangible assets and liabilities for the next five years are as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 164.60 392.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 164.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 164.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 164.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 134.60 392.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 134.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 134.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 134.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 104.60 392.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 104.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 104.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 104.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 74.60 392.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 74.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 74.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 74.60 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 442.5 164.60000000000002 m 500.5 164.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 164.60000000000002 m 562.5 164.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 164.60000000000002 m 500.5 164.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 164.60000000000002 m 562.5 164.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 74.60000000000002 m 500.5 74.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 74.60000000000002 m 562.5 74.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 60.60000000000002 m 500.5 60.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 58.60000000000002 m 500.5 58.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 60.60000000000002 m 562.5 60.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 58.60000000000002 m 562.5 58.60000000000002 l s 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 53 167.71259765625007 m 164.8359375 167.71259765625007 l s q 0 0 0 rg BT 53.00 169.28 Td (Year ending December31,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 448.10 168.83 Td (Amortization) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 514.45 168.83 Td (Rent offset) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 155.17 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 154.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 154.27 Td (563) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 154.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 154.32 Td (\(4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 154.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 140.17 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 139.27 Td (514) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 139.32 Td (\(3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 139.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 125.17 Td (2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 124.27 Td (458) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 124.32 Td (\(2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 124.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 110.17 Td (2020) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 109.27 Td (406) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 109.32 Td (\(2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 109.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 95.17 Td (2021) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 94.27 Td (333) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 94.32 Td (\(3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 94.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 80.17 Td (Thereafter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.15 79.27 Td (2,047) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 79.32 Td (\(4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 79.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 64.27 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 64.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.15 64.27 Td (4,321) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 64.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 64.32 Td (\(18) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 64.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 211 0 obj <> endobj 212 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.50 31.60 Td (105) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (Note 9) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 77.49 742.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 92.49 742.25 Td (Derivative Financial Instruments) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 234.15 742.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 723.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 723.25 Td (e are exposed to certain interest rate and foreign currency risks. ) Tj ET Q q 0 0 0 rg BT 314.45 723.25 Td (Where possible, we identify exposures in our business that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 711.25 Td (can be of) Tj ET Q q 0 0 0 rg BT 86.46 711.25 Td (fset internally) Tj ET Q q 0 0 0 rg BT 141.07 711.25 Td (. ) Tj ET Q q 0 0 0 rg BT 148.39 711.25 Td (Where no natural of) Tj ET Q q 0 0 0 rg BT 228.45 711.25 Td (fset is identified, we may choose to enter into various derivative transactions. For ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 699.25 Td (the years ended December 31, 2016 and 2015, all of our derivative instruments qualifying for hedge accounting are considered ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 687.25 Td (cash flow hedges. ) Tj ET Q q 0 0 0 rg BT 126.19 687.25 Td (These instruments have the ef) Tj ET Q q 0 0 0 rg BT 245.41 687.25 Td (fect of reducing our exposure to unfavorable changes in interest and foreign ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 675.25 Td (currency rates. ) Tj ET Q q 0 0 0 rg BT 111.17 675.25 Td (The Company) Tj ET Q q 0 0 0 rg BT 170.88 675.25 Td (s Board of Directors reviews and approves policies for managing each of these risks as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 663.25 Td (summarized below) Tj ET Q q 0 0 0 rg BT 125.16 663.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 127.66 663.25 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 642.25 Td (Inter) Tj ET Q q 0 0 0 rg BT 69.07 642.25 Td (est Rate Risk - Inter) Tj ET Q q 0 0 0 rg BT 148.12 642.25 Td (est Income) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 191.15 642.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 621.25 Td (As a result of the Company) Tj ET Q q 0 0 0 rg BT 162.48 621.25 Td (s operating activities, the Company holds fiduciary funds. ) Tj ET Q q 0 0 0 rg BT 396.14 621.25 Td (The Company earns interest on these ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 609.25 Td (funds, which is included in the Company) Tj ET Q q 0 0 0 rg BT 216.92 609.25 Td (s consolidated financial statements as interest and other income. ) Tj ET Q q 0 0 0 rg BT 475.55 609.25 Td (These funds are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 597.25 Td (regulated in terms of access as are the instruments in which they may be invested, most of which are short-term in nature.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.24 597.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 576.25 Td (During 2015, in order to manage interest rate risk arising from these financial assets, the Company entered into interest rate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 564.25 Td (swaps to receive a fixed rate of interest and pay a variable rate of interest. ) Tj ET Q q 0 0 0 rg BT 346.90 564.25 Td (These derivatives were designated as hedging ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 552.25 Td (instruments at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.88 552.25 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 187.47 552.25 Td ( and December 31, 2015 and had total notional amounts of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.63 552.25 Td ($300 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.02 552.25 Td ( and fair values of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.21 552.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.71 552.25 Td (nil) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 561.27 552.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 540.25 Td (for each period, respectively) Tj ET Q q 0 0 0 rg BT 163.18 540.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 165.68 540.25 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 519.25 Td (For) Tj ET Q q 0 0 0 rg BT 64.63 519.25 Td (eign Curr) Tj ET Q q 0 0 0 rg BT 103.43 519.25 Td (ency Risk) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 141.46 519.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 498.25 Td (Some of our non-U.S. subsidiaries receive revenues and incur expenses in currencies other than their functional currency and as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 486.25 Td (a result, the foreign subsidiary) Tj ET Q q 0 0 0 rg BT 174.14 486.25 Td (s functional currency revenues will fluctuate as the currency rates change. ) Tj ET Q q 0 0 0 rg BT 471.78 486.25 Td (Additionally) Tj ET Q q 0 0 0 rg BT 521.68 486.25 Td (, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 474.25 Td (forecast Pounds sterling expenses of our London brokerage market operations may exceed their Pounds sterling revenues, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 462.25 Td (they may also hold a significant net Pounds sterling asset or liability position in the balance sheet. ) Tj ET Q q 0 0 0 rg BT 443.63 462.25 Td (T) Tj ET Q q 0 0 0 rg BT 449.04 462.25 Td (o reduce the variability) Tj ET Q q 0 0 0 rg BT 540.85 462.25 Td (, we ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 450.25 Td (use foreign exchange forward contracts to hedge this foreign exchange risk.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.94 450.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 429.25 Td (These derivatives were designated as hedging instruments and as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.25 429.25 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.84 429.25 Td ( and December 31, 2015 had a total ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 417.25 Td (notional amount of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.60 417.25 Td ($945 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 179.99 417.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 199.43 417.25 Td ($1.2 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.54 417.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 298.20 417.25 Td (, and net fair value liabilities of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.94 417.25 Td ($1) Tj ET Q q 0 0 0 rg BT 435.57 417.25 Td (10 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.96 417.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.40 417.25 Td ($28 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.79 417.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 405.25 Td (respectively) Tj ET Q q 0 0 0 rg BT 97.66 405.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 100.16 405.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 386.25 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.50 386.25 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 141.08 386.25 Td (, the Company estimates, based on current interest and exchange rates, there will be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.47 386.25 Td ($64 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.86 386.25 Td ( of net ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 374.25 Td (derivative losses on forward exchange rates, interest rate swaps, and treasury locks reclassified from accumulated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 362.25 Td (comprehensive income into earnings within the next 12 months as the forecast transactions af) Tj ET Q q 0 0 0 rg BT 423.88 362.25 Td (fect earnings. ) Tj ET Q q 0 0 0 rg BT 479.69 362.25 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.19 362.25 Td (December31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 350.25 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 350.25 Td (, our longest outstanding maturity was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.82 350.25 Td (2.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.32 350.25 Td ( years.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 264.41 350.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 329.25 Td (The material ef) Tj ET Q q 0 0 0 rg BT 110.89 329.25 Td (fects of derivative instruments that are designated as hedging instruments on the consolidated statements of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 317.25 Td (operations for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 123.03 317.25 Td (years ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 170.51 317.25 Td ( December 31, 2016, 2015 and 2014 are as follows:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.85 317.25 Td ( ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 224.75 72.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 122.50 224.75 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 126.50 224.75 28.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 154.50 224.75 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 158.50 224.75 28.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 186.50 224.75 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 190.50 224.75 28.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 218.50 224.75 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 222.50 224.75 72.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 294.50 224.75 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 298.50 224.75 28.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 326.50 224.75 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 330.50 224.75 28.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.50 224.75 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.50 224.75 28.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.50 224.75 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 224.75 72.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.50 224.75 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 470.50 224.75 28.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 224.75 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 224.75 28.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 530.50 224.75 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 534.50 224.75 28.00 -21.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 126.5 237.75 m 154.5 237.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 154.5 237.75 m 158.5 237.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 158.5 237.75 m 186.5 237.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 186.5 237.75 m 190.5 237.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 190.5 237.75 m 218.5 237.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222.5 237.75 m 294.5 237.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 298.5 237.75 m 326.5 237.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326.5 237.75 m 330.5 237.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 237.75 m 358.5 237.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 237.75 m 362.5 237.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362.5 237.75 m 390.5 237.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 237.75 m 466.5 237.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470.5 237.75 m 498.5 237.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 237.75 m 502.5 237.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 237.75 m 530.5 237.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 530.5 237.75 m 534.5 237.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 534.5 237.75 m 562.5 237.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 126.5 237.75 m 154.5 237.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 126.5 224.75 m 154.5 224.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 158.5 237.75 m 186.5 237.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 158.5 224.75 m 186.5 224.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 186.5 237.75 m 190.5 237.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 190.5 237.75 m 218.5 237.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 190.5 224.75 m 218.5 224.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 298.5 237.75 m 326.5 237.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 298.5 224.75 m 326.5 224.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 237.75 m 358.5 237.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 224.75 m 358.5 224.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 237.75 m 362.5 237.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362.5 237.75 m 390.5 237.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362.5 224.75 m 390.5 224.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470.5 237.75 m 498.5 237.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470.5 224.75 m 498.5 224.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 237.75 m 530.5 237.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 224.75 m 530.5 224.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 530.5 237.75 m 534.5 237.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 534.5 237.75 m 562.5 237.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 534.5 224.75 m 562.5 224.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 126.5 224.75 m 154.5 224.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 126.5 204.75 m 154.5 204.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 126.5 202.75 m 154.5 202.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 158.5 224.75 m 186.5 224.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 158.5 204.75 m 186.5 204.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 158.5 202.75 m 186.5 202.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 190.5 224.75 m 218.5 224.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 190.5 204.75 m 218.5 204.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 190.5 202.75 m 218.5 202.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 298.5 224.75 m 326.5 224.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 298.5 204.75 m 326.5 204.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 298.5 202.75 m 326.5 202.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 224.75 m 358.5 224.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 204.75 m 358.5 204.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 202.75 m 358.5 202.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362.5 224.75 m 390.5 224.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362.5 204.75 m 390.5 204.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362.5 202.75 m 390.5 202.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470.5 224.75 m 498.5 224.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470.5 204.75 m 498.5 204.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470.5 202.75 m 498.5 202.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 224.75 m 530.5 224.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 204.75 m 530.5 204.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 202.75 m 530.5 202.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 534.5 224.75 m 562.5 224.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 534.5 204.75 m 562.5 204.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 534.5 202.75 m 562.5 202.75 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 131.95 249.98 Td (Loss recognizedin OCI) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 141.45 241.98 Td (\(effective portion\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 242.85 281.98 Td (Location) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 236.30 273.98 Td (of\(loss\)/gain) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 238.95 265.98 Td (reclassified) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 233.40 257.98 Td (fromOCIinto) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 245.75 249.98 Td (income) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 227.45 241.98 Td (\(effective portion\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 305.05 257.98 Td (\(Loss\)/gain reclassified) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 306.15 249.98 Td (fromOCI into income) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 313.45 241.98 Td (\(effective portion\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 399.55 297.98 Td (Locationof\(loss\)/) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 398.95 289.98 Td (gain r) Tj ET Q q 0 0 0 rg BT 419.03 289.98 Td (ecognizedin ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 417.75 281.98 Td (income ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 397.45 273.98 Td (\(ineffectiveportion) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 409.40 265.98 Td (and amount) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 405.50 257.98 Td (excluded fr) Tj ET Q q 0 0 0 rg BT 443.79 257.98 Td (om ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 408.65 249.98 Td (effectiveness ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 417.30 241.98 Td (testing\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 477.70 273.98 Td (\(Loss\)/gainrecognized) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 479.55 265.98 Td (inincome\(ineffective) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 495.85 257.98 Td (portionand) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 477.40 249.98 Td (amountexcluded from) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 481.00 241.98 Td (effectivenesstesting\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 132.00 228.98 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 164.00 228.98 Td (2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 196.00 228.98 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 225.00 229.00 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 304.00 228.98 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 336.00 228.98 Td (2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 368.00 228.98 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 397.00 229.00 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 476.00 228.98 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 508.00 228.98 Td (2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 540.00 228.98 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 216.00 Td (Foreign exchange) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 208.00 Td (forwards) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 129.00 208.00 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 136.60 208.00 Td (\(127) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 151.30 208.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 161.00 208.00 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 172.60 208.00 Td (\(38) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 183.30 208.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 193.00 208.00 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 204.60 208.00 Td (\(31) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 215.30 208.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 233.85 216.00 Td (Other expense/) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 236.65 208.00 Td (\(income\), net) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 301.00 208.00 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 312.60 208.00 Td (\(42) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 323.30 208.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 333.00 208.00 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 351.30 208.00 Td (4) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 365.00 208.00 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 379.30 208.00 Td (16) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 404.10 208.00 Td (Interest expense) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 473.00 208.00 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 488.60 208.00 Td (\(1) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 495.30 208.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 505.00 208.00 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 523.30 208.00 Td (1) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 537.00 208.00 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 552.60 208.00 Td (\(1) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 559.30 208.00 Td (\)) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 183.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 183.25 Td (e also enter into foreign currency transactions, primarily to hedge certain intercompany loans. ) Tj ET Q q 0 0 0 rg BT 438.32 183.25 Td (These derivatives are not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 171.25 Td (generally designated as hedging instruments and at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.33 171.25 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.92 171.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.36 171.25 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.94 171.25 Td ( we had notional amounts of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 159.25 Td ($630 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 101.39 159.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.83 159.25 Td ($574 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 172.22 159.25 Td (, and net fair value liabilities of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.96 159.25 Td ($8 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.35 159.25 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.29 159.25 Td ($3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.68 159.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 457.34 159.25 Td (,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.84 159.25 Td ( for each of the years ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 147.25 Td (then ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 93.59 147.25 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 98.41 147.25 Td (The ef) Tj ET Q q 0 0 0 rg BT 124.05 147.25 Td (fects of derivatives that have not been designated as hedging instruments on the consolidated statements of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 135.25 Td (operations for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 123.03 135.25 Td (three ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.52 135.25 Td (years ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 192.99 135.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 195.49 135.25 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.08 135.25 Td ( are immaterial.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.10 135.25 Td ( ) Tj ET Q endstream endobj 213 0 obj <> endobj 214 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.50 31.60 Td (106) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (Note 10) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 82.49 742.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 97.49 742.25 Td (Debt) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 118.04 742.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 721.25 Td (Short-term debt and current portion of long-term debt consists of the following:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 682.75 392.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 682.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 682.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 682.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 654.75 392.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 654.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 654.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 654.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 626.75 392.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 626.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 626.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 626.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 598.75 392.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 598.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 598.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 598.75 58.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 696.75 m 500.5 696.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500.5 696.75 m 504.5 696.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 696.75 m 562.5 696.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 696.75 m 500.5 696.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 682.75 m 500.5 682.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 696.75 m 562.5 696.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 682.75 m 562.5 682.75 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 442.5 584.75 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 442.5 571.75 m 500.5 571.75 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 504.5 584.75 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 504.5 571.75 m 562.5 571.75 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 BT /F2 9.00 Tf ET q 0 0 0 rg BT 475.80 701.20 Td (December 31,) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 246.00 686.80 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 462.00 687.20 Td (2016) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 524.00 687.20 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 673.32 Td (1-year term loan facility matures 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 673.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 673.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 673.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 673.32 Td (587) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 659.32 Td (4.125% senior notes due 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 659.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 659.32 Td (300) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 645.32 Td (6.200% senior notes due 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 645.32 Td (394) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 645.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 631.32 Td (Current portion of 7-year term loan facility expires 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 631.32 Td (22) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 631.32 Td (22) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 617.32 Td (Current portion of term loan expires 2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 617.32 Td (85) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 617.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 603.32 Td (Short-term borrowing under bank overdraft arrangement) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.65 603.32 Td (5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 603.32 Td (79) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 589.32 Td (Other debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.65 589.32 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 589.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 575.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 575.32 Td (508) 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 543.65 575.32 Td (988) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.25 Td (Long-term debt consists of the following:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 511.75 392.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 511.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 511.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 511.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 483.75 392.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 483.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 483.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 483.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 455.75 392.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 455.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 455.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 455.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 427.75 392.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 427.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 427.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 427.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 399.75 392.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 399.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 399.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 399.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 371.75 392.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 371.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 371.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 371.75 58.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 525.75 m 500.5 525.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500.5 525.75 m 504.5 525.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 525.75 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 442.5 525.75 m 500.5 525.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 511.75 m 500.5 511.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 525.75 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 504.5 511.75 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 442.5 357.75 m 500.5 357.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 357.75 m 562.5 357.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 357.75 m 500.5 357.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 344.75 m 500.5 344.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 342.75 m 500.5 342.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 357.75 m 562.5 357.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 344.75 m 562.5 344.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 342.75 m 562.5 342.75 l s BT /F2 9.00 Tf ET q 0 0 0 rg BT 475.80 530.20 Td (December 31,) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 246.00 515.80 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 462.00 516.20 Td (2016) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 524.00 516.20 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 502.32 Td (Revolving $800million credit facility) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 502.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 502.32 Td (238) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 502.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 502.32 Td (467) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 488.32 Td (6.200%senior notes due 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 488.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 488.32 Td (394) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 474.32 Td (7-year term loan facility expires 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 474.32 Td (196) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 474.32 Td (218) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 460.32 Td (Term loan expires 2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 460.32 Td (169) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 460.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 446.32 Td (7.000%senior notes due 2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 446.32 Td (186) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 446.32 Td (186) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 432.32 Td (5.750%senior notes due 2021) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 432.32 Td (496) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 432.32 Td (495) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 418.32 Td (3.500% senior notes due 2021) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 418.32 Td (446) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 418.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 404.32 Td (2.125% senior notes due 2022) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 404.32 Td (565) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 404.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 390.32 Td (4.625%senior notes due 2023) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 390.32 Td (247) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 390.32 Td (247) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 376.32 Td (4.400% senior notes due 2026) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 376.32 Td (543) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 376.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 362.32 Td (6.125%senior notes due 2043) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 362.32 Td (271) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 362.32 Td (271) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 348.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 348.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.15 348.32 Td (3,357) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 348.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 348.32 Td (2,278) Tj ET Q BT /F1 10.00 Tf ET BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 319.25 Td (Guarantees) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 97.78 319.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 300.25 Td (All direct obligations under the 6.200% and 7.000% senior notes are issued by ) Tj ET Q q 0 0 0 rg BT 366.14 300.25 Td (W) Tj ET Q q 0 0 0 rg BT 375.18 300.25 Td (illis North ) Tj ET Q q 0 0 0 rg BT 417.96 300.25 Td (America Inc. and guaranteed by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 288.25 Td (W) Tj ET Q q 0 0 0 rg BT 59.04 288.25 Td (illis ) Tj ET Q q 0 0 0 rg BT 76.36 288.25 Td (T) Tj ET Q q 0 0 0 rg BT 81.77 288.25 Td (owers ) Tj ET Q q 0 0 0 rg BT 107.97 288.25 Td (W) Tj ET Q q 0 0 0 rg BT 116.61 288.25 Td (atson, ) Tj ET Q q 0 0 0 rg BT 142.54 288.25 Td (W) Tj ET Q q 0 0 0 rg BT 151.58 288.25 Td (illis Netherlands Holdings B.V) Tj ET Q q 0 0 0 rg BT 274.17 288.25 Td (., ) Tj ET Q q 0 0 0 rg BT 281.49 288.25 Td (W) Tj ET Q q 0 0 0 rg BT 290.53 288.25 Td (illis Investment U.K. Holdings Limited, ) Tj ET Q q 0 0 0 rg BT 452.56 288.25 Td (T) Tj ET Q q 0 0 0 rg BT 457.87 288.25 Td (A) Tj ET Q q 0 0 0 rg BT 464.54 288.25 Td ( I Limited, ) Tj ET Q q 0 0 0 rg BT 509.35 288.25 Td (T) Tj ET Q q 0 0 0 rg BT 515.10 288.25 Td (rinity ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 276.25 Td (Acquisition plc, ) Tj ET Q q 0 0 0 rg BT 116.20 276.25 Td (W) Tj ET Q q 0 0 0 rg BT 125.24 276.25 Td (illis Group Limited, ) Tj ET Q q 0 0 0 rg BT 207.28 276.25 Td (W) Tj ET Q q 0 0 0 rg BT 216.31 276.25 Td (illis ) Tj ET Q q 0 0 0 rg BT 233.64 276.25 Td (T) Tj ET Q q 0 0 0 rg BT 239.05 276.25 Td (owers ) Tj ET Q q 0 0 0 rg BT 265.25 276.25 Td (W) Tj ET Q q 0 0 0 rg BT 273.89 276.25 Td (atson Sub Holdings Unlimited Company and ) Tj ET Q q 0 0 0 rg BT 455.92 276.25 Td (WTW) Tj ET Q q 0 0 0 rg BT 480.73 276.25 Td ( Bermuda Holdings ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 264.25 Td (Ltd. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.89 264.25 Td ( See ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 88.33 264.25 Td (Note 21) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.26 264.25 Td ( Financial Information for Parent Guarantor) Tj ET Q q 0 0 0 rg BT 307.58 264.25 Td (, Other Guarantor Subsidiaries and Non-Guarantor ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 252.25 Td (Subsidiaries .) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 233.25 Td (All direct obligations under the 4.125% \(repaid during 2016\) and 5.750% senior notes are issued by the Company and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 221.25 Td (guaranteed by ) Tj ET Q q 0 0 0 rg BT 108.68 221.25 Td (T) Tj ET Q q 0 0 0 rg BT 114.44 221.25 Td (rinity ) Tj ET Q q 0 0 0 rg BT 138.05 221.25 Td (Acquisition plc, ) Tj ET Q q 0 0 0 rg BT 204.25 221.25 Td (W) Tj ET Q q 0 0 0 rg BT 213.29 221.25 Td (illis Netherlands Holdings B.V) Tj ET Q q 0 0 0 rg BT 335.88 221.25 Td (., ) Tj ET Q q 0 0 0 rg BT 343.20 221.25 Td (W) Tj ET Q q 0 0 0 rg BT 352.24 221.25 Td (illis Investment U.K. Holdings Limited, ) Tj ET Q q 0 0 0 rg BT 514.27 221.25 Td (T) Tj ET Q q 0 0 0 rg BT 519.58 221.25 Td (A) Tj ET Q q 0 0 0 rg BT 526.25 221.25 Td ( I ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 209.25 Td (Limited, ) Tj ET Q q 0 0 0 rg BT 86.48 209.25 Td (W) Tj ET Q q 0 0 0 rg BT 95.52 209.25 Td (illis North ) Tj ET Q q 0 0 0 rg BT 138.30 209.25 Td (America Inc., ) Tj ET Q q 0 0 0 rg BT 195.31 209.25 Td (W) Tj ET Q q 0 0 0 rg BT 204.35 209.25 Td (illis Group Limited, ) Tj ET Q q 0 0 0 rg BT 286.39 209.25 Td (W) Tj ET Q q 0 0 0 rg BT 295.42 209.25 Td (illis ) Tj ET Q q 0 0 0 rg BT 312.75 209.25 Td (T) Tj ET Q q 0 0 0 rg BT 318.16 209.25 Td (owers ) Tj ET Q q 0 0 0 rg BT 344.36 209.25 Td (W) Tj ET Q q 0 0 0 rg BT 353.00 209.25 Td (atson Sub Holdings Unlimited Company and ) Tj ET Q q 0 0 0 rg BT 535.03 209.25 Td (WTW) Tj ET Q q 0 0 0 rg BT 559.84 209.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 197.25 Td (Bermuda Holdings Ltd. See Note 22 Financial Information for Parent Issuer) Tj ET Q q 0 0 0 rg BT 366.75 197.25 Td (, Guarantor Subsidiaries and Non-Guarantor ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 185.25 Td (Subsidiaries.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 101.39 185.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 166.25 Td (All direct obligations under the 4.625%, 6.125%, 3.500%, 4.400%, and 2.125% senior notes are issued by ) Tj ET Q q 0 0 0 rg BT 476.13 166.25 Td (T) Tj ET Q q 0 0 0 rg BT 481.89 166.25 Td (rinity ) Tj ET Q q 0 0 0 rg BT 505.50 166.25 Td (Acquisition ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 154.25 Td (plc guaranteed by ) Tj ET Q q 0 0 0 rg BT 123.40 154.25 Td (W) Tj ET Q q 0 0 0 rg BT 132.44 154.25 Td (illis ) Tj ET Q q 0 0 0 rg BT 149.76 154.25 Td (T) Tj ET Q q 0 0 0 rg BT 155.17 154.25 Td (owers ) Tj ET Q q 0 0 0 rg BT 181.37 154.25 Td (W) Tj ET Q q 0 0 0 rg BT 190.01 154.25 Td (atson, ) Tj ET Q q 0 0 0 rg BT 215.94 154.25 Td (W) Tj ET Q q 0 0 0 rg BT 224.98 154.25 Td (illis Netherlands Holdings B.V) Tj ET Q q 0 0 0 rg BT 347.57 154.25 Td (., ) Tj ET Q q 0 0 0 rg BT 354.89 154.25 Td (W) Tj ET Q q 0 0 0 rg BT 363.93 154.25 Td (illis Investment U.K. Holdings Limited, ) Tj ET Q q 0 0 0 rg BT 525.96 154.25 Td (T) Tj ET Q q 0 0 0 rg BT 531.26 154.25 Td (A) Tj ET Q q 0 0 0 rg BT 537.93 154.25 Td ( I ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 142.25 Td (Limited, ) Tj ET Q q 0 0 0 rg BT 86.48 142.25 Td (W) Tj ET Q q 0 0 0 rg BT 95.52 142.25 Td (illis North ) Tj ET Q q 0 0 0 rg BT 138.30 142.25 Td (America Inc., ) Tj ET Q q 0 0 0 rg BT 195.31 142.25 Td (W) Tj ET Q q 0 0 0 rg BT 204.35 142.25 Td (illis Group Limited, ) Tj ET Q q 0 0 0 rg BT 286.39 142.25 Td (W) Tj ET Q q 0 0 0 rg BT 295.42 142.25 Td (illis ) Tj ET Q q 0 0 0 rg BT 312.75 142.25 Td (T) Tj ET Q q 0 0 0 rg BT 318.16 142.25 Td (owers ) Tj ET Q q 0 0 0 rg BT 344.36 142.25 Td (W) Tj ET Q q 0 0 0 rg BT 353.00 142.25 Td (atson Sub Holdings Unlimited Company and ) Tj ET Q q 0 0 0 rg BT 535.03 142.25 Td (WTW) Tj ET Q q 0 0 0 rg BT 559.84 142.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 130.25 Td (Bermuda Holdings, Ltd. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 149.71 130.25 Td (See Note 23 Financial Information for Issuer) Tj ET Q q 0 0 0 rg BT 341.21 130.25 Td (, Parent Guarantor) Tj ET Q q 0 0 0 rg BT 414.39 130.25 Td (, Other Guarantor Subsidiaries and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 118.25 Td (Non-Guarantor Subsidiaries.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 97.25 Td (Senior Notes) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 103.06 97.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 76.25 Td (On May 26, 2016, ) Tj ET Q q 0 0 0 rg BT 125.37 76.25 Td (T) Tj ET Q q 0 0 0 rg BT 131.13 76.25 Td (rinity ) Tj ET Q q 0 0 0 rg BT 154.74 76.25 Td (Acquisition plc issued ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 246.12 76.25 Td (540 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.51 76.25 Td ( \() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.34 76.25 Td ($609 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.74 76.25 Td (\) of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.40 76.25 Td (2.125%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.23 76.25 Td ( senior notes due 2022 \(2022 senior ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 64.25 Td (notes\). ) Tj ET Q q 0 0 0 rg BT 82.59 64.25 Td (The 2022 senior notes are fully and unconditionally guaranteed by ) Tj ET Q q 0 0 0 rg BT 350.66 64.25 Td (W) Tj ET Q q 0 0 0 rg BT 359.70 64.25 Td (illis ) Tj ET Q q 0 0 0 rg BT 377.03 64.25 Td (T) Tj ET Q q 0 0 0 rg BT 382.44 64.25 Td (owers ) Tj ET Q q 0 0 0 rg BT 408.64 64.25 Td (W) Tj ET Q q 0 0 0 rg BT 417.28 64.25 Td (atson. ) Tj ET Q q 0 0 0 rg BT 443.20 64.25 Td (The ef) Tj ET Q q 0 0 0 rg BT 468.84 64.25 Td (fective interest rate of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 52.25 Td (these senior notes is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 132.76 52.25 Td (2.154%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.59 52.25 Td (, which includes the impact of the discount upon issuance. ) Tj ET Q q 0 0 0 rg BT 398.92 52.25 Td (The 2022 senior notes will mature on ) Tj ET Q endstream endobj 215 0 obj <> endobj 216 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.50 31.60 Td (107) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (May 26, 2022. Interest accrues on the notes from May 26, 2016 and will be paid in cash on May 26 of each year) Tj ET Q q 0 0 0 rg BT 498.21 742.10 Td (. ) Tj ET Q q 0 0 0 rg BT 503.03 742.10 Td (The net ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (proceeds from this of) Tj ET Q q 0 0 0 rg BT 135.07 730.10 Td (fering, after deducting underwriter discounts and commissions and estimated of) Tj ET Q q 0 0 0 rg BT 453.70 730.10 Td (fering expenses, were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (535 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 101.39 718.10 Td ( \() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 107.22 718.10 Td ($600 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 158.61 718.10 Td (\). ) Tj ET Q q 0 0 0 rg BT 166.76 718.10 Td (W) Tj ET Q q 0 0 0 rg BT 175.40 718.10 Td (e used the net proceeds of this of) Tj ET Q q 0 0 0 rg BT 306.57 718.10 Td (fering to repay ) Tj ET Q q 0 0 0 rg BT 367.75 718.10 Td (T) Tj ET Q q 0 0 0 rg BT 373.51 718.10 Td (ranche ) Tj ET Q q 0 0 0 rg BT 402.10 718.10 Td (A) Tj ET Q q 0 0 0 rg BT 408.77 718.10 Td ( of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.82 718.10 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.82 718.10 Td (-year term loan and related ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (accrued interest. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 685.10 Td (On March 22, 2016, ) Tj ET Q q 0 0 0 rg BT 133.14 685.10 Td (T) Tj ET Q q 0 0 0 rg BT 138.90 685.10 Td (rinity ) Tj ET Q q 0 0 0 rg BT 162.51 685.10 Td (Acquisition plc issued ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 253.89 685.10 Td ($450 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.28 685.10 Td ( of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.61 685.10 Td (3.500%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.44 685.10 Td ( senior notes due 2021 \(2021 senior notes\) and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 673.10 Td ($550 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 101.39 673.10 Td ( of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.72 673.10 Td (4.400%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.55 673.10 Td ( senior notes due 2026 \(2026 senior notes\). ) Tj ET Q q 0 0 0 rg BT 326.72 673.10 Td (The 2021 senior notes and the 2026 senior notes are fully ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 661.10 Td (and unconditionally guaranteed by the Company) Tj ET Q q 0 0 0 rg BT 244.02 661.10 Td (. ) Tj ET Q q 0 0 0 rg BT 248.84 661.10 Td (The ef) Tj ET Q q 0 0 0 rg BT 274.48 661.10 Td (fective interest rates of these senior notes are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.62 661.10 Td (3.707%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.45 661.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.89 661.10 Td (4.572%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.72 661.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 649.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 97.66 649.10 Td (, which includes the impact of the discount upon issuance. ) Tj ET Q q 0 0 0 rg BT 332.98 649.10 Td (The 2021 senior notes and the 2026 senior notes will ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 637.10 Td (mature on September 15, 2021 and March 15, 2026, respectively) Tj ET Q q 0 0 0 rg BT 308.73 637.10 Td (. Interest accrues on the notes from March 22, 2016 and will be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 625.10 Td (paid in cash on March 15 and September 15 of each year) Tj ET Q q 0 0 0 rg BT 276.87 625.10 Td (. ) Tj ET Q q 0 0 0 rg BT 281.68 625.10 Td (The net proceeds from this of) Tj ET Q q 0 0 0 rg BT 399.52 625.10 Td (fering, after deducting underwriter ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 613.10 Td (discounts and commissions and estimated of) Tj ET Q q 0 0 0 rg BT 227.85 613.10 Td (fering expenses, were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.26 613.10 Td ($988 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.65 613.10 Td (. ) Tj ET Q q 0 0 0 rg BT 373.47 613.10 Td (W) Tj ET Q q 0 0 0 rg BT 382.10 613.10 Td (e used the net proceeds of this of) Tj ET Q q 0 0 0 rg BT 513.27 613.10 Td (fering as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 601.10 Td (follows: to repay ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.26 601.10 Td ($300 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 171.66 601.10 Td ( principal under our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 253.30 601.10 Td ($800 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.69 601.10 Td ( revolving credit facility and related accrued interest, which was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 589.10 Td (drawn to repay our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.31 589.10 Td (4.125%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 159.14 589.10 Td ( senior notes on March 15, 2016; to repay ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.54 589.10 Td ($400 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.94 589.10 Td ( principal on ) Tj ET Q q 0 0 0 rg BT 432.80 589.10 Td (T) Tj ET Q q 0 0 0 rg BT 438.55 589.10 Td (ranche B under our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.97 589.10 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.97 589.10 Td (-year ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 577.10 Td (term loan facility and related accrued interest; and to pay down a portion of the remaining principal amount outstanding under ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 565.10 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.83 565.10 Td ($800 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.22 565.10 Td ( revolving credit facility and related accrued interest.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.79 565.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 544.10 Td (On ) Tj ET Q q 0 0 0 rg BT 63.86 544.10 Td (August ) Tj ET Q q 0 0 0 rg BT 94.86 544.10 Td (15, ) Tj ET Q q 0 0 0 rg BT 109.46 544.10 Td (2013, ) Tj ET Q q 0 0 0 rg BT 134.06 544.10 Td (the ) Tj ET Q q 0 0 0 rg BT 148.38 544.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 189.37 544.10 Td (issued ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 216.48 544.10 Td ($250 ) Tj ET Q q 0 0 0 rg BT 238.58 544.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 267.47 544.10 Td ( ) Tj ET Q q 0 0 0 rg BT 269.58 544.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 280.01 544.10 Td (4.625%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.84 544.10 Td ( ) Tj ET Q q 0 0 0 rg BT 312.94 544.10 Td (senior ) Tj ET Q q 0 0 0 rg BT 339.48 544.10 Td (notes ) Tj ET Q q 0 0 0 rg BT 362.70 544.10 Td (due ) Tj ET Q q 0 0 0 rg BT 379.24 544.10 Td (2023 ) Tj ET Q q 0 0 0 rg BT 401.34 544.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.88 544.10 Td ($275 ) Tj ET Q q 0 0 0 rg BT 439.99 544.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.88 544.10 Td ( ) Tj ET Q q 0 0 0 rg BT 470.98 544.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.42 544.10 Td (6.125%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.25 544.10 Td ( ) Tj ET Q q 0 0 0 rg BT 514.35 544.10 Td (senior ) Tj ET Q q 0 0 0 rg BT 540.89 544.10 Td (notes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 532.10 Td (due ) Tj ET Q q 0 0 0 rg BT 66.81 532.10 Td (2043. ) Tj ET Q q 0 0 0 rg BT 91.50 532.10 Td (The ) Tj ET Q q 0 0 0 rg BT 109.42 532.10 Td (ef) Tj ET Q q 0 0 0 rg BT 117.01 532.10 Td (fective ) Tj ET Q q 0 0 0 rg BT 146.58 532.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 178.38 532.10 Td (rates ) Tj ET Q q 0 0 0 rg BT 199.62 532.10 Td (of ) Tj ET Q q 0 0 0 rg BT 210.32 532.10 Td (these ) Tj ET Q q 0 0 0 rg BT 233.24 532.10 Td (senior ) Tj ET Q q 0 0 0 rg BT 260.04 532.10 Td (notes ) Tj ET Q q 0 0 0 rg BT 283.52 532.10 Td (are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.10 532.10 Td (4.696%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.93 532.10 Td ( ) Tj ET Q q 0 0 0 rg BT 331.29 532.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.10 532.10 Td (6.154%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.93 532.10 Td (, ) Tj ET Q q 0 0 0 rg BT 383.80 532.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 431.46 532.10 Td (, ) Tj ET Q q 0 0 0 rg BT 436.33 532.10 Td (which ) Tj ET Q q 0 0 0 rg BT 463.13 532.10 Td (include ) Tj ET Q q 0 0 0 rg BT 494.94 532.10 Td (the ) Tj ET Q q 0 0 0 rg BT 509.52 532.10 Td (impact ) Tj ET Q q 0 0 0 rg BT 539.10 532.10 Td (of ) Tj ET Q q 0 0 0 rg BT 549.80 532.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 520.10 Td (discount ) Tj ET Q q 0 0 0 rg BT 86.39 520.10 Td (upon ) Tj ET Q q 0 0 0 rg BT 108.89 520.10 Td (issuance. ) Tj ET Q q 0 0 0 rg BT 147.58 520.10 Td (The ) Tj ET Q q 0 0 0 rg BT 165.63 520.10 Td (proceeds ) Tj ET Q q 0 0 0 rg BT 203.67 520.10 Td (were ) Tj ET Q q 0 0 0 rg BT 225.60 520.10 Td (used ) Tj ET Q q 0 0 0 rg BT 246.43 520.10 Td (to ) Tj ET Q q 0 0 0 rg BT 256.70 520.10 Td (repurchase ) Tj ET Q q 0 0 0 rg BT 302.51 520.10 Td (other ) Tj ET Q q 0 0 0 rg BT 325.56 520.10 Td (previously ) Tj ET Q q 0 0 0 rg BT 370.27 520.10 Td (issued ) Tj ET Q q 0 0 0 rg BT 397.77 520.10 Td (senior ) Tj ET Q q 0 0 0 rg BT 424.71 520.10 Td (notes.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.32 520.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 499.10 Td (In ) Tj ET Q q 0 0 0 rg BT 60.66 499.10 Td (March ) Tj ET Q q 0 0 0 rg BT 89.08 499.10 Td (201) Tj ET Q q 0 0 0 rg BT 103.71 499.10 Td (1, ) Tj ET Q q 0 0 0 rg BT 113.53 499.10 Td (the ) Tj ET Q q 0 0 0 rg BT 128.08 499.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 169.29 499.10 Td (issued ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.62 499.10 Td ($300 ) Tj ET Q q 0 0 0 rg BT 218.94 499.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 247.83 499.10 Td ( ) Tj ET Q q 0 0 0 rg BT 250.16 499.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.81 499.10 Td (4.125%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.64 499.10 Td ( ) Tj ET Q q 0 0 0 rg BT 293.97 499.10 Td (senior ) Tj ET Q q 0 0 0 rg BT 320.73 499.10 Td (notes ) Tj ET Q q 0 0 0 rg BT 344.17 499.10 Td (due ) Tj ET Q q 0 0 0 rg BT 360.93 499.10 Td (2016 ) Tj ET Q q 0 0 0 rg BT 383.26 499.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.02 499.10 Td ($500 ) Tj ET Q q 0 0 0 rg BT 422.35 499.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.24 499.10 Td ( ) Tj ET Q q 0 0 0 rg BT 453.56 499.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.22 499.10 Td (5.750%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.05 499.10 Td ( ) Tj ET Q q 0 0 0 rg BT 497.38 499.10 Td (senior ) Tj ET Q q 0 0 0 rg BT 524.14 499.10 Td (notes ) Tj ET Q q 0 0 0 rg BT 547.57 499.10 Td (due ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 487.10 Td (2021. ) Tj ET Q q 0 0 0 rg BT 75.52 487.10 Td (The ) Tj ET Q q 0 0 0 rg BT 94.32 487.10 Td (ef) Tj ET Q q 0 0 0 rg BT 101.91 487.10 Td (fective ) Tj ET Q q 0 0 0 rg BT 132.37 487.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 165.06 487.10 Td (rates ) Tj ET Q q 0 0 0 rg BT 187.19 487.10 Td (of ) Tj ET Q q 0 0 0 rg BT 198.78 487.10 Td (these ) Tj ET Q q 0 0 0 rg BT 222.58 487.10 Td (senior ) Tj ET Q q 0 0 0 rg BT 250.27 487.10 Td (notes ) Tj ET Q q 0 0 0 rg BT 274.64 487.10 Td (are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 290.10 487.10 Td (4.240%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.93 487.10 Td ( ) Tj ET Q q 0 0 0 rg BT 324.19 487.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.88 487.10 Td (5.871%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.71 487.10 Td (, ) Tj ET Q q 0 0 0 rg BT 378.47 487.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 426.13 487.10 Td (, ) Tj ET Q q 0 0 0 rg BT 431.88 487.10 Td (which ) Tj ET Q q 0 0 0 rg BT 459.58 487.10 Td (include ) Tj ET Q q 0 0 0 rg BT 492.27 487.10 Td (the ) Tj ET Q q 0 0 0 rg BT 507.74 487.10 Td (impact ) Tj ET Q q 0 0 0 rg BT 538.21 487.10 Td (of ) Tj ET Q q 0 0 0 rg BT 549.79 487.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 475.10 Td (discount ) Tj ET Q q 0 0 0 rg BT 86.28 475.10 Td (upon ) Tj ET Q q 0 0 0 rg BT 108.68 475.10 Td (issuance. ) Tj ET Q q 0 0 0 rg BT 147.28 475.10 Td (The ) Tj ET Q q 0 0 0 rg BT 165.22 475.10 Td (proceeds ) Tj ET Q q 0 0 0 rg BT 203.16 475.10 Td (were ) Tj ET Q q 0 0 0 rg BT 224.98 475.10 Td (used ) Tj ET Q q 0 0 0 rg BT 245.71 475.10 Td (to ) Tj ET Q q 0 0 0 rg BT 255.88 475.10 Td (repurchase ) Tj ET Q q 0 0 0 rg BT 301.59 475.10 Td (and ) Tj ET Q q 0 0 0 rg BT 318.42 475.10 Td (redeem ) Tj ET Q q 0 0 0 rg BT 350.24 475.10 Td (other ) Tj ET Q q 0 0 0 rg BT 373.18 475.10 Td (previously ) Tj ET Q q 0 0 0 rg BT 417.80 475.10 Td (issued ) Tj ET Q q 0 0 0 rg BT 445.19 475.10 Td (senior ) Tj ET Q q 0 0 0 rg BT 472.03 475.10 Td (notes. ) Tj ET Q q 0 0 0 rg BT 497.50 475.10 Td (As ) Tj ET Q q 0 0 0 rg BT 511.01 475.10 Td (noted ) Tj ET Q q 0 0 0 rg BT 535.63 475.10 Td (above, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 463.10 Td (the ) Tj ET Q q 0 0 0 rg BT 64.72 463.10 Td (4.125% ) Tj ET Q q 0 0 0 rg BT 98.05 463.10 Td (senior ) Tj ET Q q 0 0 0 rg BT 124.99 463.10 Td (notes ) Tj ET Q q 0 0 0 rg BT 148.59 463.10 Td (were ) Tj ET Q q 0 0 0 rg BT 170.52 463.10 Td (repaid ) Tj ET Q q 0 0 0 rg BT 198.01 463.10 Td (in ) Tj ET Q q 0 0 0 rg BT 208.29 463.10 Td (March ) Tj ET Q q 0 0 0 rg BT 236.88 463.10 Td (2016.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.38 463.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (In ) Tj ET Q q 0 0 0 rg BT 60.86 442.10 Td (September ) Tj ET Q q 0 0 0 rg BT 106.16 442.10 Td (2009, ) Tj ET Q q 0 0 0 rg BT 131.00 442.10 Td (W) Tj ET Q q 0 0 0 rg BT 140.04 442.10 Td (illis ) Tj ET Q q 0 0 0 rg BT 157.58 442.10 Td (North ) Tj ET Q q 0 0 0 rg BT 182.88 442.10 Td (America ) Tj ET Q q 0 0 0 rg BT 219.83 442.10 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 237.63 442.10 Td (issued ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 265.16 442.10 Td ($300 ) Tj ET Q q 0 0 0 rg BT 287.69 442.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.59 442.10 Td ( ) Tj ET Q q 0 0 0 rg BT 319.12 442.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.98 442.10 Td (7.000%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.81 442.10 Td ( ) Tj ET Q q 0 0 0 rg BT 363.34 442.10 Td (senior ) Tj ET Q q 0 0 0 rg BT 390.31 442.10 Td (notes ) Tj ET Q q 0 0 0 rg BT 413.95 442.10 Td (due ) Tj ET Q q 0 0 0 rg BT 430.92 442.10 Td (2019. ) Tj ET Q q 0 0 0 rg BT 455.76 442.10 Td (The ) Tj ET Q q 0 0 0 rg BT 473.84 442.10 Td (ef) Tj ET Q q 0 0 0 rg BT 481.43 442.10 Td (fective ) Tj ET Q q 0 0 0 rg BT 511.16 442.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 543.13 442.10 Td (rates ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (of ) Tj ET Q q 0 0 0 rg BT 60.66 430.10 Td (these ) Tj ET Q q 0 0 0 rg BT 83.54 430.10 Td (senior ) Tj ET Q q 0 0 0 rg BT 110.31 430.10 Td (notes ) Tj ET Q q 0 0 0 rg BT 133.75 430.10 Td (are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 148.28 430.10 Td (7.081%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 179.11 430.10 Td (, ) Tj ET Q q 0 0 0 rg BT 183.94 430.10 Td (which ) Tj ET Q q 0 0 0 rg BT 210.71 430.10 Td (include ) Tj ET Q q 0 0 0 rg BT 242.48 430.10 Td (the ) Tj ET Q q 0 0 0 rg BT 257.02 430.10 Td (impact ) Tj ET Q q 0 0 0 rg BT 286.57 430.10 Td (of ) Tj ET Q q 0 0 0 rg BT 297.23 430.10 Td (the ) Tj ET Q q 0 0 0 rg BT 311.78 430.10 Td (discount ) Tj ET Q q 0 0 0 rg BT 347.99 430.10 Td (upon ) Tj ET Q q 0 0 0 rg BT 370.32 430.10 Td (issuance. ) Tj ET Q q 0 0 0 rg BT 408.52 430.10 Td (A) Tj ET Q q 0 0 0 rg BT 415.19 430.10 Td ( ) Tj ET Q q 0 0 0 rg BT 417.52 430.10 Td (portion ) Tj ET Q q 0 0 0 rg BT 448.73 430.10 Td (of ) Tj ET Q q 0 0 0 rg BT 459.39 430.10 Td (the ) Tj ET Q q 0 0 0 rg BT 473.94 430.10 Td (proceeds ) Tj ET Q q 0 0 0 rg BT 511.81 430.10 Td (were ) Tj ET Q q 0 0 0 rg BT 533.57 430.10 Td (used ) Tj ET Q q 0 0 0 rg BT 554.23 430.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.10 Td (repurchase ) Tj ET Q q 0 0 0 rg BT 95.94 418.10 Td (and ) Tj ET Q q 0 0 0 rg BT 113.01 418.10 Td (redeem ) Tj ET Q q 0 0 0 rg BT 145.06 418.10 Td (other ) Tj ET Q q 0 0 0 rg BT 168.24 418.10 Td (previously ) Tj ET Q q 0 0 0 rg BT 213.09 418.10 Td (issued ) Tj ET Q q 0 0 0 rg BT 240.72 418.10 Td (senior ) Tj ET Q q 0 0 0 rg BT 267.79 418.10 Td (notes. ) Tj ET Q q 0 0 0 rg BT 294.03 418.10 Td (In ) Tj ET Q q 0 0 0 rg BT 304.41 418.10 Td (August ) Tj ET Q q 0 0 0 rg BT 335.94 418.10 Td (2013, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.07 418.10 Td ($1) Tj ET Q q 0 0 0 rg BT 370.70 418.10 Td (13 ) Tj ET Q q 0 0 0 rg BT 383.33 418.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.22 418.10 Td ( ) Tj ET Q q 0 0 0 rg BT 414.85 418.10 Td (of ) Tj ET Q q 0 0 0 rg BT 425.82 418.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.66 418.10 Td (7.000%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.49 418.10 Td ( ) Tj ET Q q 0 0 0 rg BT 474.13 418.10 Td (senior ) Tj ET Q q 0 0 0 rg BT 501.20 418.10 Td (notes ) Tj ET Q q 0 0 0 rg BT 524.94 418.10 Td (due ) Tj ET Q q 0 0 0 rg BT 542.01 418.10 Td (2019 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.10 Td (were ) Tj ET Q q 0 0 0 rg BT 71.93 406.10 Td (repurchased.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.73 406.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 385.10 Td (On March 28, 2007, we issued ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 174.98 385.10 Td ($600 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 226.37 385.10 Td ( of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 239.70 385.10 Td (10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.70 385.10 Td ( year senior notes at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.17 385.10 Td (6.200%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.00 385.10 Td (. ) Tj ET Q q 0 0 0 rg BT 367.82 385.10 Td (W) Tj ET Q q 0 0 0 rg BT 376.46 385.10 Td (e used the proceeds of the notes to fund share ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 373.10 Td (buybacks and to repay the then outstanding borrowings of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.67 373.10 Td ($200 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.06 373.10 Td ( under our revolving credit facility) Tj ET Q q 0 0 0 rg BT 473.42 373.10 Td (. ) Tj ET Q q 0 0 0 rg BT 478.24 373.10 Td (The ef) Tj ET Q q 0 0 0 rg BT 503.88 373.10 Td (fective ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 361.10 Td (interest rate of these senior notes is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 193.01 361.10 Td (6.253%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 223.84 361.10 Td (. In ) Tj ET Q q 0 0 0 rg BT 239.12 361.10 Td (August 2013, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.51 361.10 Td ($206 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.90 361.10 Td ( of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.95 361.10 Td (6.200%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.78 361.10 Td ( senior notes were repurchased. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.06 361.10 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 340.10 Td ($800 million revolving credit facility) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 199.42 340.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 319.10 Td (Drawings under the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.37 319.10 Td ($800 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 182.76 319.10 Td ( revolving credit facility \(RCF\) bear interest at LIBOR plus a mar) Tj ET Q q 0 0 0 rg BT 452.22 319.10 Td (gin of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.33 319.10 Td (1.25%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.16 319.10 Td ( to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.94 319.10 Td (2.00%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.77 319.10 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 307.10 Td (alternatively the base rate plus a mar) Tj ET Q q 0 0 0 rg BT 196.42 307.10 Td (gin of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 222.53 307.10 Td (0.25%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.36 307.10 Td ( to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.14 307.10 Td (1.00%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.97 307.10 Td ( based upon the Company) Tj ET Q q 0 0 0 rg BT 393.62 307.10 Td (s guaranteed senior unsecured long-term ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 295.10 Td (debt rating; a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 105.26 295.10 Td (1.375%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 136.09 295.10 Td ( mar) Tj ET Q q 0 0 0 rg BT 153.96 295.10 Td (gin applies while the Company) Tj ET Q q 0 0 0 rg BT 281.16 295.10 Td (s debt rating remains BBB/Baa3. ) Tj ET Q q 0 0 0 rg BT 415.03 295.10 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.47 295.10 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.06 295.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 283.10 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.58 283.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 133.58 283.10 Td ($238 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 184.98 283.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 204.41 283.10 Td ($467 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 255.81 283.10 Td ( was outstanding under this revolving credit facility) Tj ET Q q 0 0 0 rg BT 461.50 283.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 514.16 283.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.66 283.10 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 262.10 Td (7-year term loan facility) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 149.15 262.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 241.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.05 241.10 Td (7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 73.05 241.10 Td (-year term loan facility expiring 2018 bears interest at the same rate applicable to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.85 241.10 Td ($800 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.25 241.10 Td ( revolving credit ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 229.10 Td (facility and is repayable in quarterly installments of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.82 229.10 Td ($6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.21 229.10 Td ( with a final repayment of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.29 229.10 Td ($186 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.68 229.10 Td ( due in the third quarter ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 217.10 Td (of 2018.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 83.33 217.10 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 196.10 Td (1-year term loan facility) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 149.15 196.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 175.10 Td (On November 20, 2015, Legacy ) Tj ET Q q 0 0 0 rg BT 181.17 175.10 Td (W) Tj ET Q q 0 0 0 rg BT 190.21 175.10 Td (illis entered into a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 264.63 175.10 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.63 175.10 Td (-year term loan facility) Tj ET Q q 0 0 0 rg BT 360.88 175.10 Td (. ) Tj ET Q q 0 0 0 rg BT 368.20 175.10 Td (The 1-year term loan had ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.77 175.10 Td (two) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.77 175.10 Td ( tranches: ) Tj ET Q q 0 0 0 rg BT 527.68 175.10 Td (T) Tj ET Q q 0 0 0 rg BT 533.44 175.10 Td (ranche ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 163.10 Td (A) Tj ET Q q 0 0 0 rg BT 56.67 163.10 Td ( was for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 91.38 163.10 Td (550 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.77 163.10 Td (, of which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 185.54 163.10 Td (544 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 236.93 163.10 Td ( \() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.76 163.10 Td ($592 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.16 163.10 Td (\) was drawn on December 19, 2015 and used to finance the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 151.10 Td (acquisition of Gras Savoye. ) Tj ET Q q 0 0 0 rg BT 165.35 151.10 Td (T) Tj ET Q q 0 0 0 rg BT 171.11 151.10 Td (ranche B was for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 241.64 151.10 Td ($400 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.03 151.10 Td ( and was drawn on January 4, 2016 and used to re-finance debt ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 139.10 Td (held by Legacy ) Tj ET Q q 0 0 0 rg BT 113.96 139.10 Td (T) Tj ET Q q 0 0 0 rg BT 119.37 139.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 145.57 139.10 Td (W) Tj ET Q q 0 0 0 rg BT 154.21 139.10 Td (atson which became due on acquisition. ) Tj ET Q q 0 0 0 rg BT 315.93 139.10 Td (T) Tj ET Q q 0 0 0 rg BT 321.68 139.10 Td (ranche ) Tj ET Q q 0 0 0 rg BT 350.28 139.10 Td (A) Tj ET Q q 0 0 0 rg BT 356.95 139.10 Td ( was repaid in its entirety on May 26, 2016 from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 127.10 Td (the proceeds from the issuance of our 2022 senior notes discussed above. ) Tj ET Q q 0 0 0 rg BT 345.02 127.10 Td (T) Tj ET Q q 0 0 0 rg BT 350.78 127.10 Td (ranche B was repaid in its entirety on March 22, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 115.10 Td (2016 from a portion of the proceeds from the issuance of our senior notes discussed above. ) Tj ET Q q 0 0 0 rg BT 416.11 115.10 Td (The amount outstanding as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 103.10 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.58 103.10 Td ( was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 149.14 103.10 Td ($592 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 200.53 103.10 Td (, gross of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 239.97 103.10 Td ($5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.36 103.10 Td ( in debt fees related to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.15 103.10 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.15 103.10 Td (-year term loan facility) Tj ET Q q 0 0 0 rg BT 483.40 103.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.90 103.10 Td ( ) Tj ET Q endstream endobj 217 0 obj <> endobj 218 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.50 31.60 Td (108) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (WSI revolving credit facility) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 165.82 742.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 721.25 Td (W) Tj ET Q q 0 0 0 rg BT 59.04 721.25 Td (illis Securities Inc. \(WSI\) is permitted to incur up to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 276.49 721.25 Td ($400 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.88 721.25 Td ( in indebtedness under the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.80 721.25 Td ($800 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.19 721.25 Td ( revolving credit ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 709.25 Td (facility held by ) Tj ET Q q 0 0 0 rg BT 112.86 709.25 Td (T) Tj ET Q q 0 0 0 rg BT 118.61 709.25 Td (rinity ) Tj ET Q q 0 0 0 rg BT 142.23 709.25 Td (Acquisition plc and has the ability to borrow in Euro, Japanese yen and other approved currencies ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 697.25 Td (subject to a reserve for foreign currency fluctuation.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.24 697.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 676.25 Td (Proceeds under the credit facility may be used for regulatory capital purposes related to securities underwriting only) Tj ET Q q 0 0 0 rg BT 513.64 676.25 Td (, which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 664.25 Td (allows ) Tj ET Q q 0 0 0 rg BT 78.43 664.25 Td (WSI to meet or exceed capital requirements of regulatory agencies, self-regulatory agencies and their clearing houses, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 652.25 Td (including the Financial Industry Regulatory ) Tj ET Q q 0 0 0 rg BT 226.91 652.25 Td (Authority) Tj ET Q q 0 0 0 rg BT 265.15 652.25 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.10 652.25 Td (Advances under the ) Tj ET Q q 0 0 0 rg BT 353.83 652.25 Td (WSI revolving credit facility bear interest at a rate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 640.25 Td (equal to LIBOR plus a mar) Tj ET Q q 0 0 0 rg BT 158.41 640.25 Td (gin of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 184.52 640.25 Td (1.25%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 210.35 640.25 Td ( to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 223.13 640.25 Td (2.00%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.96 640.25 Td (, or alternatively the base rate plus a mar) Tj ET Q q 0 0 0 rg BT 411.21 640.25 Td (gin of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.31 640.25 Td (0.25%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.14 640.25 Td ( to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.92 640.25 Td (1.00%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.75 640.25 Td (, based upon ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 628.25 Td (the Company) Tj ET Q q 0 0 0 rg BT 106.38 628.25 Td (s guaranteed senior) Tj ET Q q 0 0 0 rg BT 183.37 628.25 Td (-unsecured long-term debt rating. ) Tj ET Q q 0 0 0 rg BT 319.17 628.25 Td (A) Tj ET Q q 0 0 0 rg BT 325.83 628.25 Td ( mar) Tj ET Q q 0 0 0 rg BT 343.70 628.25 Td (gin of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.81 628.25 Td (1.50%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.64 628.25 Td ( applies while the Company) Tj ET Q q 0 0 0 rg BT 510.06 628.25 Td (s debt rating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 616.25 Td (remains BBB/Baa3.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 129.99 616.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 595.25 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.44 595.25 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 153.03 595.25 Td ( and 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 192.47 595.25 Td (, there were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 241.88 595.25 Td (no) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 251.88 595.25 Td ( borrowings outstanding under the ) Tj ET Q q 0 0 0 rg BT 391.40 595.25 Td (WSI revolving credit facility) Tj ET Q q 0 0 0 rg BT 505.99 595.25 Td (. On ) Tj ET Q q 0 0 0 rg BT 525.16 595.25 Td (April 27, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 583.25 Td (2016, the end date of the credit period was extended to ) Tj ET Q q 0 0 0 rg BT 271.04 583.25 Td (April 28, 2017 and the repayment date was extended to ) Tj ET Q q 0 0 0 rg BT 494.03 583.25 Td (April 28, 2018. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 571.25 Td (There were no other significant changes in the terms of this credit facility) Tj ET Q q 0 0 0 rg BT 343.13 571.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.63 571.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.25 Td (The agreements relating to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 174.12 550.25 Td ($800 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.51 550.25 Td ( revolving credit facility) Tj ET Q q 0 0 0 rg BT 321.77 550.25 Td (, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.48 550.25 Td (7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.48 550.25 Td (-year term loan facility) Tj ET Q q 0 0 0 rg BT 437.73 550.25 Td (, and the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.39 550.25 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.39 550.25 Td (-year term loan ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.25 Td (contain requirements that we are not to exceed certain levels of consolidated funded indebtedness in relation to consolidated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.25 Td (EBITDA) Tj ET Q q 0 0 0 rg BT 86.11 526.25 Td ( and we are to maintain at least a minimum level of consolidated EBITDA) Tj ET Q q 0 0 0 rg BT 382.97 526.25 Td ( to consolidated cash interest expense, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.25 Td (subject to certain adjustments. In addition, the agreements relating to our facilities and senior notes include, in the aggregate, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.25 Td (covenants relating to the delivery of financial statements, reports and notices, limitations on liens, limitations on sales and other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.25 Td (disposals of assets, limitations on indebtedness and other liabilities, limitations on sale and leaseback transactions, limitations ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.25 Td (on mer) Tj ET Q q 0 0 0 rg BT 77.87 478.25 Td (gers and other fundamental changes, maintenance of property) Tj ET Q q 0 0 0 rg BT 323.78 478.25 Td (, maintenance of insurance, nature of business, compliance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.25 Td (with applicable laws, maintenance of corporate existence and rights, payment of taxes and access to information and properties. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.25 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.50 454.25 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 141.08 454.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 160.52 454.25 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 239.11 454.25 Td (, we were in compliance with all financial covenants. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.30 454.25 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 433.25 Td (T) Tj ET Q q 0 0 0 rg BT 55.19 433.25 Td (erm Loan Due December 2019) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 181.84 433.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 412.25 Td (On January 4, 2016, we acquired a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.34 412.25 Td ($340 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.73 412.25 Td ( term loan in connection with the Mer) Tj ET Q q 0 0 0 rg BT 393.90 412.25 Td (ger) Tj ET Q q 0 0 0 rg BT 406.12 412.25 Td (. On November 20, 2015, ) Tj ET Q q 0 0 0 rg BT 512.87 412.25 Td (T) Tj ET Q q 0 0 0 rg BT 518.28 412.25 Td (owers ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 400.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 400.25 Td (atson Delaware Inc. entered into a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 197.74 400.25 Td (four) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.20 400.25 Td (-year amortizing term loan agreement for up to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.68 400.25 Td ($340 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.07 400.25 Td ( with a consortium of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 388.25 Td (banks to help fund the pre-Mer) Tj ET Q q 0 0 0 rg BT 173.95 388.25 Td (ger special dividend. On December 28, 2015, ) Tj ET Q q 0 0 0 rg BT 357.60 388.25 Td (T) Tj ET Q q 0 0 0 rg BT 363.01 388.25 Td (owers ) Tj ET Q q 0 0 0 rg BT 389.21 388.25 Td (W) Tj ET Q q 0 0 0 rg BT 397.85 388.25 Td (atson Delaware Inc. borrowed the full ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 376.25 Td ($340 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 101.39 376.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.89 376.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 355.25 Td (The interest rate on the term loan is based on the Company) Tj ET Q q 0 0 0 rg BT 288.54 355.25 Td (s choice of one, two, three or six-month LIBOR plus a spread of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 343.25 Td (1.25%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.83 343.25 Td ( to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 88.61 343.25 Td (1.75%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.44 343.25 Td (, or alternatively the bank base rate plus ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 276.32 343.25 Td (0.25%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.15 343.25 Td ( to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.93 343.25 Td (0.75%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.76 343.25 Td (. ) Tj ET Q q 0 0 0 rg BT 345.58 343.25 Td (The spread to each index is dependent on the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 331.25 Td (Company) Tj ET Q q 0 0 0 rg BT 91.67 331.25 Td (s consolidated leverage ratio. ) Tj ET Q q 0 0 0 rg BT 210.61 331.25 Td (The weighted-average interest rate on this term loan for the year ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.59 331.25 Td (December31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 319.25 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 319.25 Td ( was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.55 319.25 Td (1.83%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 116.38 319.25 Td (. ) Tj ET Q q 0 0 0 rg BT 123.70 319.25 Td (The term loan amortizes at a rate of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.63 319.25 Td ($21 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.02 319.25 Td ( per quarter) Tj ET Q q 0 0 0 rg BT 360.71 319.25 Td (, beginning in March 2016, with a final maturity ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 307.25 Td (date of December 2019. ) Tj ET Q q 0 0 0 rg BT 150.89 307.25 Td (The Company has the right to prepay a portion or all of the outstanding term loan balance on any ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 295.25 Td (interest payment date without penalty) Tj ET Q q 0 0 0 rg BT 199.86 295.25 Td (. ) Tj ET Q q 0 0 0 rg BT 204.31 295.25 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 216.81 295.25 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.40 295.25 Td (, the balance outstanding on the term loan was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.12 295.25 Td ($255 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.51 295.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 283.25 Td (before reduction of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 129.13 283.25 Td ($1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 170.52 283.25 Td ( in debt issuance fees.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 257.99 283.25 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 262.25 Td (Covenants) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 93.34 262.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 241.25 Td (The terms of our current financings also include certain limitations. For example, the agreements relating to the debt ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 229.25 Td (arrangements and credit facilities generally contain numerous operating and financial covenants, including requirements to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 217.25 Td (maintain minimum ratios of consolidated EBITDA) Tj ET Q q 0 0 0 rg BT 253.58 217.25 Td ( to consolidated cash interest expense and maximum levels of consolidated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 205.25 Td (funded indebtedness in relation to consolidated EBITDA, in each case subject to certain adjustments. ) Tj ET Q q 0 0 0 rg BT 459.42 205.25 Td (The operating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 193.25 Td (restrictions and financial covenants in our credit facilities do, and any future financing agreements may) Tj ET Q q 0 0 0 rg BT 462.26 193.25 Td (, limit our ability to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 181.25 Td (finance future operations or capital needs or to engage in other business activities.) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 219 0 obj <> endobj 220 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.50 31.60 Td (109) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (Debt Maturity) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 108.06 742.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 721.25 Td (The following table summarizes the maturity of our debt, interest on senior notes and excludes any reduction for debt issuance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 709.25 Td (costs:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.78 709.25 Td ( ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 685.75 82.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 132.50 685.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 190.50 685.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 194.50 685.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 252.50 685.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.50 685.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 685.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 685.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 685.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 685.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 685.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 685.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 685.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 685.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 655.75 82.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 132.50 655.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 190.50 655.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 194.50 655.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 252.50 655.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.50 655.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 655.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 655.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 655.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 655.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 655.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 655.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 655.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 655.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 625.75 82.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 132.50 625.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 190.50 625.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 194.50 625.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 252.50 625.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.50 625.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 625.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 625.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 625.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 625.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 625.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 625.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 625.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 625.75 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 132.5 685.75 m 190.5 685.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 194.5 685.75 m 252.5 685.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256.5 685.75 m 314.5 685.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 685.75 m 376.5 685.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 685.75 m 438.5 685.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 685.75 m 500.5 685.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 685.75 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 132.5 610.75 m 190.5 610.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 194.5 610.75 m 252.5 610.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256.5 610.75 m 314.5 610.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 610.75 m 376.5 610.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 610.75 m 438.5 610.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 610.75 m 500.5 610.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 132.5 596.75 m 190.5 596.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 132.5 594.75 m 190.5 594.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 194.5 596.75 m 252.5 596.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 194.5 594.75 m 252.5 594.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256.5 596.75 m 314.5 596.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256.5 594.75 m 314.5 594.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 596.75 m 376.5 596.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 594.75 m 376.5 594.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 596.75 m 438.5 596.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 594.75 m 438.5 594.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 596.75 m 500.5 596.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 594.75 m 500.5 594.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 610.75 m 562.5 610.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 596.75 m 562.5 596.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 594.75 m 562.5 594.75 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 153.00 689.98 Td (2017) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 215.00 689.98 Td (2018) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 277.00 689.98 Td (2019) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 339.00 689.98 Td (2020) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 401.00 689.98 Td (2021) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 452.70 689.98 Td (Thereafter) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 524.25 689.98 Td (Total) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 675.00 Td (Senior notes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.00 675.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 171.65 675.42 Td (394) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 197.00 675.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.65 675.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.00 675.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.65 675.42 Td (187) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.00 675.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.65 675.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 675.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 675.42 Td (950) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 675.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.15 675.42 Td (1,645) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 675.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 675.42 Td (3,176) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 660.00 Td (Interest on senior notes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 171.65 660.42 Td (128) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 233.65 660.42 Td (122) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.65 660.42 Td (119) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.65 660.42 Td (109) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 660.42 Td (82) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 660.42 Td (489) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 660.42 Td (1,049) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 645.00 Td (Term loans) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 171.65 645.42 Td (107) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 233.65 645.42 Td (281) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.65 645.42 Td (85) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.65 645.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 645.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 645.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 645.42 Td (473) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 630.00 Td (RCF) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 176.65 630.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 233.65 630.42 Td (238) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.65 630.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.65 630.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 630.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 630.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 630.42 Td (238) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 615.00 Td (Other debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 181.65 615.42 Td (7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.65 615.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.65 615.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.65 615.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 615.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 615.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 615.42 Td (7) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 600.00 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.00 600.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 171.65 600.42 Td (636) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 197.00 600.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 233.65 600.42 Td (641) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.00 600.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.65 600.42 Td (391) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.00 600.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.65 600.42 Td (109) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 600.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.15 600.42 Td (1,032) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 600.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.15 600.42 Td (2,134) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 600.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 600.42 Td (4,943) Tj ET Q BT /F1 10.00 Tf ET BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 571.25 Td (Interest Expense) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 119.17 571.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 552.25 Td (The following table shows an analysis of the interest expense for the years ended December 31:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.93 552.25 Td ( ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 514.75 330.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 514.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 514.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 514.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 514.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 514.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 486.75 330.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 486.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 486.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 486.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 486.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 486.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 458.75 330.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 458.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 458.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 458.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 458.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 458.75 58.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 526.75 m 438.5 526.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 526.75 m 442.5 526.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 526.75 m 500.5 526.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500.5 526.75 m 504.5 526.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 526.75 m 562.5 526.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 526.75 m 438.5 526.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 514.75 m 438.5 514.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 526.75 m 500.5 526.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 514.75 m 500.5 514.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 526.75 m 562.5 526.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 514.75 m 562.5 514.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 444.75 m 438.5 444.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 444.75 m 500.5 444.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 444.75 m 562.5 444.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 431.75 m 438.5 431.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 429.75 m 438.5 429.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 444.75 m 500.5 444.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 431.75 m 500.5 431.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 429.75 m 500.5 429.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 431.75 m 562.5 431.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 429.75 m 562.5 429.75 l s BT /F1 7.00 Tf ET q 0 0 0 rg BT 215.00 530.80 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 420.30 530.15 Td (Years ended December 31,) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 215.00 518.80 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 400.00 518.15 Td (2016) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 462.00 518.15 Td (2015) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 524.00 518.15 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 505.32 Td (Senior notes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 505.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 505.32 Td (139) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 505.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 505.32 Td (114) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 505.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 505.32 Td (117) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 491.32 Td (Term loans) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 491.32 Td (17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.65 491.32 Td (5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 491.32 Td (5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 477.32 Td (RCF) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 477.32 Td (10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.65 477.32 Td (6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 477.32 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 463.32 Td (WSI revolving credit facility) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.65 463.32 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.65 463.32 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 463.32 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 449.32 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 449.32 Td (16) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 449.32 Td (15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 449.32 Td (6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 435.32 Td (Total interest expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 435.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 435.32 Td (184) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 435.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 435.32 Td (142) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 435.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 435.32 Td (135) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 410.25 Td (Note 1) Tj ET Q q 0 0 0 rg BT 76.94 410.25 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 81.94 410.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 96.94 410.25 Td (Fair) Tj ET Q q 0 0 0 rg BT 115.08 410.25 Td ( ) Tj ET Q q 0 0 0 rg BT 117.40 410.25 Td (V) Tj ET Q q 0 0 0 rg BT 123.71 410.25 Td (alue Measur) Tj ET Q q 0 0 0 rg BT 176.57 410.25 Td (ements) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 206.56 410.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 389.25 Td (The Company has categorized its assets and liabilities that are measured at fair value on a recurring and non-recurring basis ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 377.25 Td (into a three-level fair value hierarchy) Tj ET Q q 0 0 0 rg BT 197.88 377.25 Td (, based on the reliability of the inputs used to determine fair value as follows:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.97 377.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.00 356.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.00 356.25 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 356.25 Td (Level1: refers to fair values determined based on quoted market prices in active markets for identical assets;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.11 356.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.00 335.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.00 335.25 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 335.25 Td (Level2: refers to fair values estimated using observable market based inputs or unobservable inputs that are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.00 323.25 Td (corroborated by market data; and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 217.72 323.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.00 302.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.00 302.25 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 302.25 Td (Level3: includes fair values estimated using unobservable inputs that are not corroborated by market data.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.53 302.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 281.25 Td (The following methods and assumptions were used by the Company in estimating its fair value disclosure for financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 269.25 Td (instruments:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.44 269.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 248.25 Td (Market values for our derivative instruments have been used to determine the fair value of interest rate swaps and forward ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 236.25 Td (foreign exchange contracts based on estimated amounts the Company would receive or have to pay to terminate the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 224.25 Td (agreements, taking into account the current interest rate environment or current foreign currency forward rates. Such financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 212.25 Td (instruments are classified as Level 2 in the fair value hierarchy) Tj ET Q q 0 0 0 rg BT 300.36 212.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.86 212.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 191.25 Td (A) Tj ET Q q 0 0 0 rg BT 56.48 191.25 Td (vailable-for) Tj ET Q q 0 0 0 rg BT 102.92 191.25 Td (-sale securities are classified as Level 1 because we use quoted market prices in determining the fair value of these ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 179.25 Td (securities. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 92.76 179.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 158.25 Td (Contingent consideration payable is classified as Level 3 and we estimate fair value based on the likelihood and timing of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 146.25 Td (achieving the relevant milestones of each arrangement, applying a probability assessment to each of the potential outcomes, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 134.25 Td (and discounting the probability-weighted payout. ) Tj ET Q q 0 0 0 rg BT 249.22 134.25 Td (T) Tj ET Q q 0 0 0 rg BT 254.63 134.25 Td (ypically) Tj ET Q q 0 0 0 rg BT 286.20 134.25 Td (, milestones are based on revenue or EBITDA) Tj ET Q q 0 0 0 rg BT 470.03 134.25 Td ( growth for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 122.25 Td (acquired business. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 125.82 122.25 Td ( ) Tj ET Q endstream endobj 221 0 obj <> endobj 222 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.65 31.60 Td (1) Tj ET Q q 0 0 0 rg BT 303.28 31.60 Td (10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (The following presents our assets and liabilities measured at fair value on a recurring basis at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.88 742.10 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.47 742.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.58 730.10 Td (:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 693.60 132.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 182.50 693.60 132.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 693.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 693.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 693.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 693.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 693.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 693.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 693.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 693.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 664.60 132.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 182.50 664.60 132.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 664.60 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 664.60 58.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 664.60 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 664.60 58.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 664.60 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 664.60 58.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 664.60 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 664.60 58.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 628.60 132.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 182.50 628.60 132.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 628.60 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 628.60 58.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 628.60 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 628.60 58.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 628.60 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 628.60 58.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 628.60 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 628.60 58.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 593.60 132.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 182.50 593.60 132.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 593.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 593.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 593.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 593.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 593.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 593.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 593.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 593.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 557.60 132.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 182.50 557.60 132.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 557.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 557.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 557.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 557.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 557.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 557.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 557.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 557.60 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 318.5 706.6 m 376.5 706.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376.5 706.6 m 380.5 706.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 706.6 m 438.5 706.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 706.6 m 442.5 706.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 706.6 m 500.5 706.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500.5 706.6 m 504.5 706.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 706.6 m 562.5 706.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 182.5 693.6 m 314.5 693.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 693.6 m 376.5 693.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 693.6 m 438.5 693.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 693.6 m 500.5 693.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 693.6 m 562.5 693.6 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 710.85 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 208.00 697.83 Td (Balance Sheet Location) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 321.90 710.83 Td (Fair Value Measurements on a Recurring Basis at December 31, 2016) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 697.85 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 334.65 697.83 Td (Level 1) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 396.65 697.83 Td (Level 2) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 458.65 697.83 Td (Level 3) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 524.25 697.83 Td (Total) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 53.00 684.05 Td (Assets:) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 53.00 669.05 Td (Available-for-sale securities:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 62.00 655.85 Td (Mutual funds / exchange traded) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 71.00 647.85 Td (funds) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 190.35 655.85 Td (Prepaid and other current assets and) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 209.75 647.85 Td (other non-current assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.00 648.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.65 648.27 Td (37) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 648.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 648.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 648.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 648.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 648.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 648.27 Td (37) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 53.00 633.05 Td (Derivatives:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 62.00 611.85 Td (Derivative financial instruments \(i\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 190.35 619.85 Td (Prepaid and other current assets and) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 209.75 611.85 Td (other non-current assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.00 612.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.65 612.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 612.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 612.27 Td (15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 612.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 612.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 612.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 612.27 Td (15) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 53.00 598.05 Td (Liabilities:) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 53.00 583.05 Td (Contingent Consideration:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 62.00 561.85 Td (Contingent consideration \(ii\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 203.90 569.85 Td (Other current liabilities and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 204.20 561.85 Td (other non-current liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.00 562.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.65 562.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 562.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 562.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 562.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 562.27 Td (55) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 562.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 562.27 Td (55) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 53.00 547.05 Td (Derivatives:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 62.00 525.85 Td (Derivative financial instruments \(i\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 203.90 533.85 Td (Other current liabilities and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 204.20 525.85 Td (other non-current liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.00 526.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.65 526.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 526.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 526.27 Td (133) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 526.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 526.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 526.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 526.27 Td (133) Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 482.60 132.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 182.50 482.60 132.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 482.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 482.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 482.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 482.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 482.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 482.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 482.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 482.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 453.60 132.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 182.50 453.60 132.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 453.60 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 453.60 58.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 453.60 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 453.60 58.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 453.60 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 453.60 58.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 453.60 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 453.60 58.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 418.60 132.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 182.50 418.60 132.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 418.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 418.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 418.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 418.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 418.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 418.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 418.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 418.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 382.60 132.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 182.50 382.60 132.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 382.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 382.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 382.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 382.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 382.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 382.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 382.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 382.60 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 318.5 495.6 m 376.5 495.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376.5 495.6 m 380.5 495.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 495.6 m 438.5 495.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 495.6 m 442.5 495.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 495.6 m 500.5 495.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500.5 495.6 m 504.5 495.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 495.6 m 562.5 495.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 182.5 482.6 m 314.5 482.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 482.6 m 376.5 482.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 482.6 m 438.5 482.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 482.6 m 500.5 482.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 482.6 m 562.5 482.6 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 499.85 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 208.00 486.83 Td (Balance Sheet Location) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 321.90 499.83 Td (Fair Value Measurements on a Recurring Basis at December 31, 2015) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 486.85 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 334.65 486.83 Td (Level 1) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 396.65 486.83 Td (Level 2) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 458.65 486.83 Td (Level3) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 524.25 486.83 Td (Total) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 53.00 473.05 Td (Assets:) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 53.00 458.05 Td (Derivatives:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 62.00 436.85 Td (Derivative financial instruments \(i\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 190.35 444.85 Td (Prepaid and other current assets and) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 209.75 436.85 Td (other non-current assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.00 437.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.65 437.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 437.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 437.27 Td (26) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 437.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 437.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 437.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 437.27 Td (26) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 53.00 423.05 Td (Liabilities:) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 53.00 408.05 Td (Contingent Consideration:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 62.00 386.85 Td (Contingent consideration) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 203.90 394.85 Td (Other current liabilities and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 204.20 386.85 Td (other non-current liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.00 387.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.65 387.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 387.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 387.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 387.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 387.27 Td (74) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 387.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 387.27 Td (74) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 53.00 372.05 Td (Derivatives:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 62.00 350.85 Td (Derivative financial instruments \(i\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 203.90 358.85 Td (Other current liabilities and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 204.20 350.85 Td (other non-current liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.00 351.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.65 351.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 351.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 351.27 Td (57) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 351.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 351.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 351.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 351.27 Td (57) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 335.10 Td (____________________) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 150.00 335.10 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 68.00 322.50 Td (\(i\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 322.50 Td (See ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 99.55 322.50 Td (Note 9) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 121.10 322.50 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 131.10 322.50 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 133.10 322.50 Td (Derivative Financial Instruments) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 238.41 322.50 Td ( for further information on our derivative instruments.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 411.25 322.50 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 68.00 309.90 Td (\(ii\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 309.90 Td (Probability weightings are based on our knowledge of the past and planned performance of the acquired entity to which the contingent consideration ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 300.30 Td (applies. ) Tj ET Q q 0 0 0 rg BT 112.52 300.30 Td (The weighted average discount rate used on our material contingent consideration calculations was ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 431.29 300.30 Td (10.76%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 455.96 300.30 Td (. Using dif) Tj ET Q q 0 0 0 rg BT 489.81 300.30 Td (ferent probability ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 290.70 Td (weightings and discount rates could result in an increase or decrease of the contingent consideration payable.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 434.77 290.70 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 269.70 Td (The following table summarizes the change in fair value of the Level 3 liabilities:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.28 269.70 Td ( ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 246.20 435.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.50 246.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 246.20 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 216.20 435.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.50 216.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 216.20 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 186.20 435.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.50 186.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 186.20 73.00 -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 488.5 246.20000000000005 m 561.5 246.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488.5 171.20000000000005 m 561.5 171.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488.5 157.20000000000005 m 561.5 157.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488.5 155.20000000000005 m 561.5 155.20000000000005 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 250.43 Td (FairValueMeasurementsusing significant unobservable inputs \(Level 3\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 492.25 250.43 Td (December 31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 236.77 Td (Balance at December 31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.00 235.87 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 235.87 Td (74) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 221.77 Td (Obligations assumed) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 220.87 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 206.77 Td (Payments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.30 205.92 Td (\(11) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 205.87 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 191.77 Td (Realized and unrealized losses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.30 190.92 Td (\(5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 190.87 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 176.77 Td (Foreign exchange) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.30 175.92 Td (\(6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 175.87 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 161.77 Td (Balance at December 31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.00 160.87 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 160.87 Td (55) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 135.70 Td (There were no significant transfers between Levels 1, 2 or 3 in the fiscal years ended December 31, 2016 and 2015.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.33 135.70 Td ( ) Tj ET Q endstream endobj 223 0 obj <> endobj 224 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.85 31.60 Td (1) Tj ET Q q 0 0 0 rg BT 303.48 31.60 Td (1) Tj ET Q q 0 0 0 rg BT 308.11 31.60 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (Fair) Tj ET Q q 0 0 0 rg BT 68.14 742.25 Td ( value information about financial instruments not measur) Tj ET Q q 0 0 0 rg BT 317.70 742.25 Td (ed at fair) Tj ET Q q 0 0 0 rg BT 356.39 742.25 Td ( value) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 381.67 742.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 721.25 Td (The following presents our liabilities not measured at fair value on a recurring basis at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.39 721.25 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.98 721.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.42 721.25 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.42 721.25 Td (:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 684.75 208.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 258.50 684.75 73.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 331.50 684.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 335.50 684.75 73.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 684.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 684.75 73.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 684.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 684.75 73.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 655.75 208.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 258.50 655.75 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 331.50 655.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 335.50 655.75 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 655.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 655.75 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 655.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 655.75 73.00 -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 258.5 697.75 m 331.5 697.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 335.5 697.75 m 408.5 697.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412.5 697.75 m 485.5 697.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485.5 697.75 m 489.5 697.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 697.75 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 258.5 697.75 m 331.5 697.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 258.5 684.75 m 331.5 684.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 335.5 684.75 m 408.5 684.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412.5 684.75 m 485.5 684.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 684.75 m 562.5 684.75 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 300.75 701.98 Td (December 31, 2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 454.75 701.98 Td (December 31, 2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 268.15 688.98 Td (Carrying Value) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 353.65 688.98 Td (Fair Value) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 422.15 688.98 Td (Carrying Value) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 507.65 688.98 Td (Fair Value) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 675.43 Td (Liabilities:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 660.42 Td ( Current portion of long term debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.00 660.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.65 660.42 Td (508) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.00 660.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.65 660.42 Td (513) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.00 660.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 660.42 Td (988) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.00 660.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 660.42 Td (998) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 645.42 Td ( Long-term debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.00 645.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.15 645.42 Td (3,357) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.00 645.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.15 645.42 Td (3,504) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.00 645.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.15 645.42 Td (2,278) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.00 645.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 645.42 Td (2,394) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 620.25 Td (The carrying values of our revolving lines of credit and term loans approximate their fair values. ) Tj ET Q q 0 0 0 rg BT 440.80 620.25 Td (The fair values above are not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 608.25 Td (necessarily indicative of the amounts that the Company would realize upon disposition nor do they indicate the Company) Tj ET Q q 0 0 0 rg BT 538.50 608.25 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 596.25 Td (intent or ability to dispose of the financial instrument.) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 265.23 596.25 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 267.48 596.25 Td (The fair value of our senior notes are considered level 2 financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 584.25 Td (instruments as they are corroborated by observable market data.) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 305.74 584.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 563.25 Td (Note 12) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 82.49 563.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 97.49 563.25 Td (Retir) Tj ET Q q 0 0 0 rg BT 119.52 563.25 Td (ement Benefits) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 182.55 563.25 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 542.25 Td (Defined Benefit Plans and Post-retirement ) Tj ET Q q 0 0 0 rg BT 227.87 542.25 Td (W) Tj ET Q q 0 0 0 rg BT 236.02 542.25 Td (elfare Plans) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 285.73 542.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 521.25 Td (W) Tj ET Q q 0 0 0 rg BT 59.04 521.25 Td (illis ) Tj ET Q q 0 0 0 rg BT 76.36 521.25 Td (T) Tj ET Q q 0 0 0 rg BT 81.77 521.25 Td (owers ) Tj ET Q q 0 0 0 rg BT 107.97 521.25 Td (W) Tj ET Q q 0 0 0 rg BT 116.61 521.25 Td (atson sponsors both qualified and non-qualified defined benefit pension plans and other post-retirement ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 509.25 Td (welfare plans \(PR) Tj ET Q q 0 0 0 rg BT 124.42 509.25 Td (W\) plans throughout the world. ) Tj ET Q q 0 0 0 rg BT 258.38 509.25 Td (The majority of our plan assets and obligations are in the United States and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 497.25 Td (the United Kingdom. ) Tj ET Q q 0 0 0 rg BT 137.03 497.25 Td (W) Tj ET Q q 0 0 0 rg BT 145.67 497.25 Td (e have also included disclosures related to defined benefit plans in certain other countries, which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 485.25 Td (includes Canada, Germany) Tj ET Q q 0 0 0 rg BT 157.37 485.25 Td (, Ireland and the Netherlands. ) Tj ET Q q 0 0 0 rg BT 277.97 485.25 Td (T) Tj ET Q q 0 0 0 rg BT 283.38 485.25 Td (ogether) Tj ET Q q 0 0 0 rg BT 312.97 485.25 Td (, these disclosed funded and unfunded plans represented ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.40 485.25 Td (99%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.73 485.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 473.25 Td (of ) Tj ET Q q 0 0 0 rg BT 60.65 473.25 Td (W) Tj ET Q q 0 0 0 rg BT 69.69 473.25 Td (illis ) Tj ET Q q 0 0 0 rg BT 87.01 473.25 Td (T) Tj ET Q q 0 0 0 rg BT 92.42 473.25 Td (owers ) Tj ET Q q 0 0 0 rg BT 118.62 473.25 Td (W) Tj ET Q q 0 0 0 rg BT 127.26 473.25 Td (atson) Tj ET Q q 0 0 0 rg BT 151.15 473.25 Td (s pension and PR) Tj ET Q q 0 0 0 rg BT 219.77 473.25 Td (W) Tj ET Q q 0 0 0 rg BT 229.02 473.25 Td ( obligations and plan assets and are disclosed herein for the 2016 disclosures.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.12 473.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 452.25 Td (On January 4, 2016, in connection with the Mer) Tj ET Q q 0 0 0 rg BT 241.45 452.25 Td (ger) Tj ET Q q 0 0 0 rg BT 253.81 452.25 Td (, we acquired additional defined benefit pension, PR) Tj ET Q q 0 0 0 rg BT 462.92 452.25 Td (W) Tj ET Q q 0 0 0 rg BT 471.45 452.25 Td (, and defined ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 440.25 Td (contribution plans. ) Tj ET Q q 0 0 0 rg BT 127.31 440.25 Td (T) Tj ET Q q 0 0 0 rg BT 132.72 440.25 Td (otal plan assets of approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 266.85 440.25 Td ($3.7 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.96 440.25 Td ( and projected benefit obligations of approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.40 440.25 Td ($4.6 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 428.25 Td (billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.11 428.25 Td ( were acquired. ) Tj ET Q q 0 0 0 rg BT 142.29 428.25 Td (The funded status for each of the acquired plans has been included in the values of identifiable assets ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 416.25 Td (acquired, and liabilities assumed in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 193.30 416.25 Td (Note 3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 220.23 416.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 235.23 416.25 Td (Mer) Tj ET Q q 0 0 0 rg BT 251.71 416.25 Td (ger and ) Tj ET Q q 0 0 0 rg BT 283.37 416.25 Td (Acquisitions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.93 416.25 Td ( and are recorded as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.38 416.25 Td ($67 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.77 416.25 Td ( in pension benefits ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 404.25 Td (assets and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 92.77 404.25 Td ($923 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 144.16 404.25 Td ( in liability for pension benefits.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.47 404.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 383.25 Td (As part of these obligations, in the United States, the United Kingdom and Canada, we have non-qualified plans that provide ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 371.25 Td (for the additional pension benefits that would be covered under the qualified plan in the respective country were it not for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 359.25 Td (statutory maximums. ) Tj ET Q q 0 0 0 rg BT 136.76 359.25 Td (The non-qualified plans are unfunded.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 338.25 Td (Certain prior year amounts have been reclassified between the presentation groupings of U.S., U.K.) Tj ET Q q 0 0 0 rg BT 460.79 338.25 Td ( and Other) Tj ET Q q 0 0 0 rg BT 506.70 338.25 Td () Tj ET Q q 0 0 0 rg BT 509.29 338.25 Td ( to conform ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 326.25 Td (to current year presentation. ) Tj ET Q q 0 0 0 rg BT 164.49 326.25 Td (The significant plans within each grouping are described below:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.08 326.25 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 68.00 305.25 Td (United States) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 121.60 305.25 Td ( ) 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 86 282.9169921875 m 141.7861328125 282.9169921875 l s q 0 0 0 rg BT 86.00 284.25 Td (Legacy ) Tj ET Q q 0 0 0 rg BT 117.74 284.25 Td (W) Tj ET Q q 0 0 0 rg BT 126.78 284.25 Td (illis) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 141.79 284.25 Td ( ) Tj ET Q q 0 0 0 rg BT 151.61 284.25 Td (This plan covers approximately one third of the Legacy ) Tj ET Q q 0 0 0 rg BT 376.07 284.25 Td (W) Tj ET Q q 0 0 0 rg BT 385.11 284.25 Td (illis employees in the United States and is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 272.25 Td (now frozen with no new entrants nor future accruals.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.31 272.25 Td ( ) 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 86 249.9169921875 m 181.6005859375 249.9169921875 l s q 0 0 0 rg BT 86.00 251.25 Td (Legacy ) Tj ET Q q 0 0 0 rg BT 117.74 251.25 Td (T) Tj ET Q q 0 0 0 rg BT 123.15 251.25 Td (owers ) Tj ET Q q 0 0 0 rg BT 149.35 251.25 Td (W) Tj ET Q q 0 0 0 rg BT 157.99 251.25 Td (atson ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 181.60 251.25 Td ( ) Tj ET Q q 0 0 0 rg BT 188.92 251.25 Td (This plan covers substantially all Legacy ) Tj ET Q q 0 0 0 rg BT 354.80 251.25 Td (T) Tj ET Q q 0 0 0 rg BT 360.21 251.25 Td (owers ) Tj ET Q q 0 0 0 rg BT 386.42 251.25 Td (W) Tj ET Q q 0 0 0 rg BT 395.05 251.25 Td (atson U.S. employees, with the exception ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 239.25 Td (of certain employees of our Exchange Solutions segment. Prior to December31, 2010, employees earned benefits ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 227.25 Td (under their original plan formulas, which were frozen on December31, 201) Tj ET Q q 0 0 0 rg BT 388.58 227.25 Td (1. Beginning January1, 2012, all Legacy ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 215.25 Td (T) Tj ET Q q 0 0 0 rg BT 91.41 215.25 Td (owers ) Tj ET Q q 0 0 0 rg BT 117.61 215.25 Td (W) Tj ET Q q 0 0 0 rg BT 126.25 215.25 Td (atson employees, including named executive of) Tj ET Q q 0 0 0 rg BT 316.01 215.25 Td (ficers, accrue qualified and non-qualified benefits under a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 203.25 Td (stable value pension design.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 198.20 203.25 Td ( ) 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 104 180.9169921875 m 160.9384765625 180.9169921875 l s q 0 0 0 rg BT 104.00 182.25 Td (2017 Changes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 160.94 182.25 Td ( ) Tj ET Q q 0 0 0 rg BT 170.76 182.25 Td (The Legacy ) Tj ET Q q 0 0 0 rg BT 220.55 182.25 Td (T) Tj ET Q q 0 0 0 rg BT 225.96 182.25 Td (owers ) Tj ET Q q 0 0 0 rg BT 252.16 182.25 Td (W) Tj ET Q q 0 0 0 rg BT 260.80 182.25 Td (atson plan) Tj ET Q q 0 0 0 rg BT 304.40 182.25 Td (s current non-contributory stable value formula is not available ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 170.25 Td (to employees hired or rehired on or after January 1, 2017. Beginning July 1, 2017, Legacy ) Tj ET Q q 0 0 0 rg BT 467.06 170.25 Td (T) Tj ET Q q 0 0 0 rg BT 472.47 170.25 Td (owers ) Tj ET Q q 0 0 0 rg BT 498.67 170.25 Td (W) Tj ET Q q 0 0 0 rg BT 507.31 170.25 Td (atson ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 158.25 Td (employees participating in the Plan will accrue benefits under a new non-contributory stable value pension ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 146.25 Td (formula. ) Tj ET Q q 0 0 0 rg BT 140.10 146.25 Td (Also beginning July 1, 2017, the Plan will cover newly eligible employees, including employees hired on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 134.25 Td (or after January 1, 2017, and employees from Legacy ) Tj ET Q q 0 0 0 rg BT 320.13 134.25 Td (W) Tj ET Q q 0 0 0 rg BT 329.17 134.25 Td (illis and the Exchange Solutions segment, who elect to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 122.25 Td (participate \(who do not opt out\) under a new contributory stable value pension formula.) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 225 0 obj <> endobj 226 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.65 31.60 Td (1) Tj ET Q q 0 0 0 rg BT 303.28 31.60 Td (12) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 68.00 742.10 Td (United Kingdom) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 134.39 742.10 Td ( ) 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 86 719.7669921875 m 141.7861328125 719.7669921875 l s q 0 0 0 rg BT 86.00 721.10 Td (Legacy ) Tj ET Q q 0 0 0 rg BT 117.74 721.10 Td (W) Tj ET Q q 0 0 0 rg BT 126.78 721.10 Td (illis) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 141.79 721.10 Td ( ) Tj ET Q q 0 0 0 rg BT 151.61 721.10 Td (This plan covers approximately one third of the Legacy ) Tj ET Q q 0 0 0 rg BT 376.07 721.10 Td (W) Tj ET Q q 0 0 0 rg BT 385.11 721.10 Td (illis employees in the United Kingdom. ) Tj ET Q q 0 0 0 rg BT 545.19 721.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 709.10 Td (plan is now closed to new entrants. New employees in the UnitedKingdom are of) Tj ET Q q 0 0 0 rg BT 415.74 709.10 Td (fered the opportunity to join a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 697.10 Td (defined contribution plan.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 189.58 697.10 Td ( ) 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 86 674.7669921875 m 179.1005859375 674.7669921875 l s q 0 0 0 rg BT 86.00 676.10 Td (Legacy ) Tj ET Q q 0 0 0 rg BT 117.74 676.10 Td (T) Tj ET Q q 0 0 0 rg BT 123.15 676.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 149.35 676.10 Td (W) Tj ET Q q 0 0 0 rg BT 157.99 676.10 Td (atson) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 179.10 676.10 Td ( Benefit accruals earned under the Legacy ) Tj ET Q q 0 0 0 rg BT 357.16 676.10 Td (W) Tj ET Q q 0 0 0 rg BT 365.80 676.10 Td (atson ) Tj ET Q q 0 0 0 rg BT 389.23 676.10 Td (W) Tj ET Q q 0 0 0 rg BT 398.07 676.10 Td (yatt defined benefit plan \(predominantly ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 664.10 Td (pension benefits\) ceased on February 28, 2015, although benefits earned prior to January 1, 2008 retain a link to salary ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 652.10 Td (until the employee leaves the Company) Tj ET Q q 0 0 0 rg BT 243.36 652.10 Td (. Benefit accruals earned under the legacy ) Tj ET Q q 0 0 0 rg BT 415.59 652.10 Td (T) Tj ET Q q 0 0 0 rg BT 421.00 652.10 Td (owers Perrin defined benefit plan ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 640.10 Td (\(predominantly lump sum benefits\) were frozen on March31, 2008. ) Tj ET Q q 0 0 0 rg BT 362.88 640.10 Td (All participants now accrue defined contribution ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 628.10 Td (benefits.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.16 628.10 Td ( ) 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 86 605.7669921875 m 142.9189453125 605.7669921875 l s q 0 0 0 rg BT 86.00 607.10 Td (Legacy Miller) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.92 607.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 150.42 607.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 152.74 607.10 Td (The plan provides retirement benefits based on members) Tj ET Q q 0 0 0 rg BT 382.20 607.10 Td ( salaries at the point at which they ceased to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 595.10 Td (accrue benefits under the scheme.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 221.21 595.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 68.00 574.10 Td (Other) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 91.33 574.10 Td ( ) 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 86 551.7669921875 m 218.24609375 551.7669921875 l s q 0 0 0 rg BT 86.00 553.10 Td (Canada \(Legacy ) Tj ET Q q 0 0 0 rg BT 153.56 553.10 Td (T) Tj ET Q q 0 0 0 rg BT 158.97 553.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 185.17 553.10 Td (W) Tj ET Q q 0 0 0 rg BT 193.81 553.10 Td (atson\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 218.25 553.10 Td ( Participants accrue qualified and non-qualified benefits based on a career average ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 541.10 Td (benefit formula. ) Tj ET Q q 0 0 0 rg BT 152.37 541.10 Td (Additionally) Tj ET Q q 0 0 0 rg BT 202.27 541.10 Td (, participants can choose to make voluntary contributions to purchase enhancements to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 529.10 Td (their pension. ) Tj ET Q BT /F1 10.00 Tf ET 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 104 506.7669921875 m 193.423828125 506.7669921875 l s q 0 0 0 rg BT 104.00 508.10 Td (2017 Canada Changes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 193.42 508.10 Td ( Ef) Tj ET Q q 0 0 0 rg BT 212.68 508.10 Td (fective January1,2017, the Legacy ) Tj ET Q q 0 0 0 rg BT 357.44 508.10 Td (T) Tj ET Q q 0 0 0 rg BT 362.85 508.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 389.05 508.10 Td (W) Tj ET Q q 0 0 0 rg BT 397.69 508.10 Td (atson Canada plan was amended with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 496.10 Td (respect to future benefit accruals. ) Tj ET Q q 0 0 0 rg BT 239.31 496.10 Td (The ancillary benefits were reduced for all members and the benefit formula ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 484.10 Td (was reduced for members joining on or after January1,2017. ) Tj ET Q q 0 0 0 rg BT 352.54 484.10 Td (Additionally on January 1, 2017, the Legacy ) Tj ET Q q 0 0 0 rg BT 533.15 484.10 Td (W) Tj ET Q q 0 0 0 rg BT 542.19 484.10 Td (illis ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 472.10 Td (employees in Canada joined the plan and will accrue qualified and non-qualified benefits based on a career ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 460.10 Td (average benefit formula.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 202.00 460.10 Td ( ) 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 86 437.7669921875 m 205.111328125 437.7669921875 l s q 0 0 0 rg BT 86.00 439.10 Td (France \(Legacy Gras Savoye\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 205.11 439.10 Td ( ) Tj ET Q q 0 0 0 rg BT 214.93 439.10 Td (The mandatory retirement indemnity plan is a termination benefit which provides ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 427.10 Td (lump sum benefits at retirement. ) Tj ET Q q 0 0 0 rg BT 218.01 427.10 Td (There is no vesting before the retirement date and the benefit formula is determined ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 415.10 Td (through the collective bar) Tj ET Q q 0 0 0 rg BT 188.28 415.10 Td (gaining agreement and the labor code. ) Tj ET Q q 0 0 0 rg BT 342.94 415.10 Td (All employees with permanent employment contracts ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 403.10 Td (are eligible.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 133.20 403.10 Td ( ) 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 86 380.7669921875 m 188.1533203125 380.7669921875 l s q 0 0 0 rg BT 86.00 382.10 Td (Germany \(Legacy ) Tj ET Q q 0 0 0 rg BT 160.78 382.10 Td (W) Tj ET Q q 0 0 0 rg BT 169.82 382.10 Td (illis\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 188.15 382.10 Td ( The defined benefit plan population consists of retirees receiving annuities and two ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 370.10 Td (participants with deferred vested benefits. Other employees and former employees participate in defined contribution ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 358.10 Td (arrangements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.36 358.10 Td ( ) 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 86 335.7669921875 m 225.4677734375 335.7669921875 l s q 0 0 0 rg BT 86.00 337.10 Td (Germany \(Legacy ) Tj ET Q q 0 0 0 rg BT 160.78 337.10 Td (T) Tj ET Q q 0 0 0 rg BT 166.19 337.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 192.39 337.10 Td (W) Tj ET Q q 0 0 0 rg BT 201.03 337.10 Td (atson\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.47 337.10 Td ( Ef) Tj ET Q q 0 0 0 rg BT 244.73 337.10 Td (fective January1, 201) Tj ET Q q 0 0 0 rg BT 332.66 337.10 Td (1, all new participants participate in a defined ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 325.10 Td (contribution plan. Participants hired prior to this date continue to participate in various defined contribution and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 313.10 Td (defined benefit arrangements according to legacy plan formulas. ) Tj ET Q q 0 0 0 rg BT 345.99 313.10 Td (The legacy defined benefit plans are primarily ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 301.10 Td (account-based, with some long-service participants continuing to accrue benefits according to grandfathered final-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 289.10 Td (average-pay formulas. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 177.90 289.10 Td ( ) 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 86 266.7669921875 m 179.26171875 266.7669921875 l s q 0 0 0 rg BT 86.00 268.10 Td (Ireland \(Legacy ) Tj ET Q q 0 0 0 rg BT 151.89 268.10 Td (W) Tj ET Q q 0 0 0 rg BT 160.93 268.10 Td (illis\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 179.26 268.10 Td ( ) Tj ET Q q 0 0 0 rg BT 189.08 268.10 Td (The defined benefit plans provide pension benefits for approximately one third of legacy ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 256.10 Td (W) Tj ET Q q 0 0 0 rg BT 95.04 256.10 Td (illis employees in Ireland. ) Tj ET Q q 0 0 0 rg BT 201.22 256.10 Td (The defined benefit plans are now closed to new entrants. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.19 256.10 Td ( ) 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 86 233.76699218750002 m 216.576171875 233.76699218750002 l s q 0 0 0 rg BT 86.00 235.10 Td (Ireland \(Legacy ) Tj ET Q q 0 0 0 rg BT 151.89 235.10 Td (T) Tj ET Q q 0 0 0 rg BT 157.30 235.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 183.50 235.10 Td (W) Tj ET Q q 0 0 0 rg BT 192.14 235.10 Td (atson\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 216.58 235.10 Td ( Benefit accruals earned under the scheme) Tj ET Q q 0 0 0 rg BT 395.66 235.10 Td (s defined benefit plan ceased on May 1, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 223.10 Td (2015. Benefits earned prior to this date retain a link to salary until the employee leaves the Company) Tj ET Q q 0 0 0 rg BT 488.57 223.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.07 223.10 Td ( ) 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 86 200.76699218750002 m 236.576171875 200.76699218750002 l s q 0 0 0 rg BT 86.00 202.10 Td (Netherlands \(Legacy ) Tj ET Q q 0 0 0 rg BT 171.89 202.10 Td (T) Tj ET Q q 0 0 0 rg BT 177.30 202.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 203.50 202.10 Td (W) Tj ET Q q 0 0 0 rg BT 212.14 202.10 Td (atson\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 236.58 202.10 Td ( Benefits under the plan used to accrue on a final pay basis on earnings up to a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 190.10 Td (maximum amount each year) Tj ET Q q 0 0 0 rg BT 199.02 190.10 Td (. ) Tj ET Q q 0 0 0 rg BT 203.84 190.10 Td (The benefit accrual under the final pay plan stopped at December31, 2010. ) Tj ET Q q 0 0 0 rg BT 507.70 190.10 Td (The accrued ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 178.10 Td (benefits will receive conditional indexation each year) Tj ET Q q 0 0 0 rg BT 299.25 178.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 68.00 157.10 Td (Post-r) Tj ET Q q 0 0 0 rg BT 92.63 157.10 Td (etir) Tj ET Q q 0 0 0 rg BT 106.14 157.10 Td (ement W) Tj ET Q q 0 0 0 rg BT 139.93 157.10 Td (elfar) Tj ET Q q 0 0 0 rg BT 158.45 157.10 Td (e Plan) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 184.27 157.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 136.10 Td (W) Tj ET Q q 0 0 0 rg BT 94.64 136.10 Td (e provide certain healthcare and life insurance benefits for retired participants. ) Tj ET Q q 0 0 0 rg BT 409.86 136.10 Td (The principal plans cover participants ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 124.10 Td (in the U.S. who have met certain eligibility requirements. Our principal post-retirement benefit plans are primarily ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 112.10 Td (unfunded. Retiree medical benefits provided under our U.S. post-retirement benefit plans were closed to new hires ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 100.10 Td (ef) Tj ET Q q 0 0 0 rg BT 93.59 100.10 Td (fective January1, 201) Tj ET Q q 0 0 0 rg BT 181.52 100.10 Td (1. Life insurance benefits under the plans were frozen with respect to service, eligibility and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 88.10 Td (amounts as of January1, 2012 for active participants.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.83 88.10 Td ( ) Tj ET Q endstream endobj 227 0 obj <> endobj 228 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.65 31.60 Td (1) Tj ET Q q 0 0 0 rg BT 303.28 31.60 Td (13) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (Amounts Recognized in our Consolidated Financial Statements) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 303.31 742.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 721.10 Td (The following schedules provide information concerning the defined benefit pension plans and PR) Tj ET Q q 0 0 0 rg BT 443.79 721.10 Td (W) Tj ET Q q 0 0 0 rg BT 453.05 721.10 Td ( plan as of and for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 709.10 Td (years ended December 31 2016 and 2015:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 670.60 168.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 218.50 670.60 40.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 258.50 670.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 262.50 670.60 40.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.50 670.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.50 670.60 40.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.50 670.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.50 670.60 40.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.50 670.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 670.60 40.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.50 670.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 670.60 40.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.50 670.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 670.60 40.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 522.50 670.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 526.50 670.60 40.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 643.60 168.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 218.50 643.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 258.50 643.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 262.50 643.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.50 643.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.50 643.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.50 643.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.50 643.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.50 643.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 643.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.50 643.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 643.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.50 643.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 643.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 522.50 643.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 526.50 643.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 615.60 168.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 218.50 615.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 258.50 615.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 262.50 615.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.50 615.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.50 615.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.50 615.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.50 615.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.50 615.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 615.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.50 615.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 615.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.50 615.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 615.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 522.50 615.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 526.50 615.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 587.60 168.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 218.50 587.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 258.50 587.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 262.50 587.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.50 587.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.50 587.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.50 587.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.50 587.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.50 587.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 587.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.50 587.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 587.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.50 587.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 587.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 522.50 587.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 526.50 587.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 559.60 168.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 218.50 559.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 258.50 559.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 262.50 559.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.50 559.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.50 559.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.50 559.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.50 559.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.50 559.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 559.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.50 559.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 559.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.50 559.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 559.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 522.50 559.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 526.50 559.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 531.60 168.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 218.50 531.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 258.50 531.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 262.50 531.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.50 531.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.50 531.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.50 531.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.50 531.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.50 531.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 531.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.50 531.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 531.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.50 531.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 531.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 522.50 531.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 526.50 531.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 503.60 168.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 218.50 503.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 258.50 503.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 262.50 503.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.50 503.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.50 503.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.50 503.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.50 503.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.50 503.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 503.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.50 503.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 503.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.50 503.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 503.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 522.50 503.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 526.50 503.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 475.60 168.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 218.50 475.60 40.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 258.50 475.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 262.50 475.60 40.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.50 475.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.50 475.60 40.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.50 475.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.50 475.60 40.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.50 475.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 475.60 40.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.50 475.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 475.60 40.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.50 475.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 475.60 40.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 522.50 475.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 526.50 475.60 40.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 448.60 168.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 218.50 448.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 258.50 448.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 262.50 448.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.50 448.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.50 448.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.50 448.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.50 448.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.50 448.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 448.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.50 448.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 448.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.50 448.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 448.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 522.50 448.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 526.50 448.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 420.60 168.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 218.50 420.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 258.50 420.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 262.50 420.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.50 420.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.50 420.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.50 420.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.50 420.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.50 420.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 420.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.50 420.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 420.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.50 420.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 420.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 522.50 420.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 526.50 420.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 392.60 168.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 218.50 392.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 258.50 392.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 262.50 392.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.50 392.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.50 392.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.50 392.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.50 392.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.50 392.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 392.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.50 392.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 392.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.50 392.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 392.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 522.50 392.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 526.50 392.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 364.60 168.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 218.50 364.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 258.50 364.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 262.50 364.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.50 364.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.50 364.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.50 364.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.50 364.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.50 364.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 364.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.50 364.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 364.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.50 364.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 364.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 522.50 364.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 526.50 364.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 336.60 168.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 218.50 336.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 258.50 336.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 262.50 336.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.50 336.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.50 336.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.50 336.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.50 336.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.50 336.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 336.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.50 336.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 336.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.50 336.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 336.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 522.50 336.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 526.50 336.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 308.60 168.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 218.50 308.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 258.50 308.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 262.50 308.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.50 308.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.50 308.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.50 308.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.50 308.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.50 308.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 308.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.50 308.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 308.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.50 308.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 308.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 522.50 308.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 526.50 308.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 273.60 168.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 218.50 273.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 258.50 273.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 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522.5 216.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 526.5 231.60000000000002 m 566.5 231.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 526.5 218.60000000000002 m 566.5 218.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 526.5 216.60000000000002 m 566.5 216.60000000000002 l s BT /F2 9.00 Tf ET q 0 0 0 rg BT 298.00 689.05 Td (2016) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 474.00 689.05 Td (2015) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 232.95 675.05 Td (U.S.) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 276.00 675.05 Td (U.K.) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 317.55 675.05 Td (Other) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 362.70 675.05 Td (PRW) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 408.95 675.05 Td (U.S.) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 452.00 675.05 Td (U.K.) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 493.55 675.05 Td (Other) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 538.70 675.05 Td (PRW) Tj ET Q BT /F2 8.00 Tf ET q 0 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9.00 Tf ET q 0 0 0 rg BT 285.50 592.06 Td (852) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 334.00 592.06 Td (61) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 382.50 592.06 Td (4) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 419.00 592.06 Td (\(92) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 431.00 592.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 463.00 592.06 Td (\(97) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 475.00 592.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 511.50 592.06 Td (\(5) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 519.00 592.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 554.00 592.06 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 71.00 577.85 Td (Curtailment loss) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 246.00 578.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 290.00 578.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 334.00 578.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 378.00 578.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 422.00 578.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 466.00 578.06 Td (13) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 510.00 578.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 554.00 578.06 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 71.00 563.85 Td (Settlements) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 246.00 564.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 287.00 564.06 Td (\(12) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 299.00 564.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 331.00 564.06 Td (\(61) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 343.00 564.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 378.00 564.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 422.00 564.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 466.00 564.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 511.50 564.06 Td (\(1) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 519.00 564.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 554.00 564.06 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 71.00 549.85 Td (Benefits paid) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 238.50 550.06 Td (\(166) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 255.00 550.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 282.50 550.06 Td (\(130) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 299.00 550.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 331.00 550.06 Td (\(24) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 343.00 550.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 375.00 550.06 Td (\(14) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 387.00 550.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 419.00 550.06 Td (\(39) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 431.00 550.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 458.50 550.06 Td (\(102) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 475.00 550.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 511.50 550.06 Td (\(7) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 519.00 550.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 554.00 550.06 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 71.00 535.85 Td (Business combinations) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 234.75 536.06 Td (3,012) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 285.50 536.06 Td (842) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 329.50 536.06 Td (530) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 373.50 536.06 Td (112) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 422.00 536.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 461.50 536.06 Td (224) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 510.00 536.06 Td (24) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 554.00 536.06 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 71.00 521.85 Td (Transfers in) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 246.00 522.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 290.00 522.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 338.50 522.06 Td (1) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 378.00 522.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 422.00 522.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 466.00 522.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 510.00 522.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 554.00 522.06 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 71.00 507.85 Td (Foreign currency changes) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 246.00 508.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 282.50 508.06 Td (\(673) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 299.00 508.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 338.50 508.06 Td (4) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 378.00 508.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 422.00 508.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 458.50 508.06 Td (\(176) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 475.00 508.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 507.00 508.06 Td (\(19) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 519.00 508.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 554.00 508.06 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 71.00 493.85 Td (Plan amendments) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 246.00 494.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 290.00 494.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 334.00 494.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 378.00 494.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 422.00 494.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 458.50 494.06 Td (\(215) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 475.00 494.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 510.00 494.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 554.00 494.06 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.00 479.85 Td (Benefit obligation, end of year) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 221.00 480.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 234.75 480.06 Td (4,169) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 265.00 480.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 278.75 480.06 Td (3,899) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 309.00 480.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 329.50 480.06 Td (732) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 353.00 480.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 373.50 480.06 Td (113) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 397.00 480.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 417.50 480.06 Td (976) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 441.00 480.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 454.75 480.06 Td (2,881) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 485.00 480.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 505.50 480.06 Td (184) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 529.00 480.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 554.00 480.06 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 53.00 466.83 Td (Change in Plan Assets) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.00 452.85 Td (Fair value of plan assets, beginning of year) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 221.00 453.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 241.50 453.06 Td (749) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 265.00 453.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 278.75 453.06 Td (3,478) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 309.00 453.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 329.50 453.06 Td (158) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 353.00 453.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 378.00 453.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 397.00 453.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 417.50 453.06 Td (806) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 441.00 453.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 454.75 453.06 Td (3,398) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 485.00 453.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 505.50 453.06 Td (171) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 529.00 453.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 554.00 453.06 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 71.00 438.85 Td (Actual return on plan assets) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 241.50 439.06 Td (153) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 285.50 439.06 Td (782) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 334.00 439.06 Td (26) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 378.00 439.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 419.00 439.06 Td (\(19) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 431.00 439.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 466.00 439.06 Td (73) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 514.50 439.06 Td (4) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 554.00 439.06 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 71.00 424.85 Td (Employer contributions) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 246.00 425.06 Td (91) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 285.50 425.06 Td (106) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 334.00 425.06 Td (39) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 382.50 425.06 Td (7) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 426.50 425.06 Td (1) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 461.50 425.06 Td (107) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 510.00 425.06 Td (10) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 554.00 425.06 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 71.00 410.85 Td (Employee contributions) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 246.00 411.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 294.50 411.06 Td (1) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 334.00 411.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 382.50 411.06 Td (7) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 422.00 411.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 470.50 411.06 Td (1) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 510.00 411.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 554.00 411.06 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 71.00 396.85 Td (Settlements) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 246.00 397.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 287.00 397.06 Td (\(12) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 299.00 397.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 331.00 397.06 Td (\(58) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 343.00 397.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 378.00 397.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 422.00 397.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 466.00 397.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 510.00 397.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 554.00 397.06 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 71.00 382.85 Td (Benefits paid) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 238.50 383.06 Td (\(166) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 255.00 383.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 282.50 383.06 Td (\(130) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 299.00 383.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 331.00 383.06 Td (\(24) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 343.00 383.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 375.00 383.06 Td (\(14) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 387.00 383.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 419.00 383.06 Td (\(39) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 431.00 383.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 458.50 383.06 Td (\(102) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 475.00 383.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 511.50 383.06 Td (\(7) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 519.00 383.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 554.00 383.06 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 71.00 368.85 Td (Business combinations) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 234.75 369.06 Td (2,453) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 285.50 369.06 Td (906) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 329.50 369.06 Td (321) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 382.50 369.06 Td (4) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 422.00 369.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 461.50 369.06 Td (202) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 510.00 369.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 554.00 369.06 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 71.00 354.85 Td (Transfers in) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 246.00 355.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 290.00 355.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 338.50 355.06 Td (1) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 378.00 355.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 422.00 355.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 466.00 355.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 510.00 355.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 554.00 355.06 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 71.00 340.85 Td (Foreign currency adjustment) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 246.00 341.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 282.50 341.06 Td (\(771) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 299.00 341.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 338.50 341.06 Td (4) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 378.00 341.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 422.00 341.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 458.50 341.06 Td (\(201) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 475.00 341.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 507.00 341.06 Td (\(20) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 519.00 341.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 554.00 341.06 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.00 326.85 Td (Fair value of plan assets, end of year) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 221.00 327.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 234.75 327.06 Td (3,280) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 265.00 327.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 278.75 327.06 Td (4,360) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 309.00 327.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 329.50 327.06 Td (467) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 353.00 327.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 382.50 327.06 Td (4) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 397.00 327.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 417.50 327.06 Td (749) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 441.00 327.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 454.75 327.06 Td (3,478) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 485.00 327.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 505.50 327.06 Td (158) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 529.00 327.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 554.00 327.06 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 53.00 312.83 Td (Funded status at end of year) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 221.00 313.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 238.50 313.06 Td (\(889) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 255.00 313.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 265.00 313.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 285.50 313.06 Td (461) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 309.00 313.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 326.50 313.06 Td (\(265) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 343.00 313.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 353.00 313.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 370.50 313.06 Td (\(109) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 387.00 313.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 397.00 313.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 414.50 313.06 Td (\(227) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 431.00 313.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 441.00 313.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 461.50 313.06 Td (597) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 485.00 313.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 507.00 313.06 Td (\(26) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 519.00 313.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 529.00 313.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 554.00 313.06 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 53.00 298.83 Td (Accumulated Benefit Obligation) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 221.00 299.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 234.75 299.06 Td (4,169) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 265.00 299.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 278.75 299.06 Td (3,899) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 309.00 299.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 329.50 299.06 Td (696) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 353.00 299.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 373.50 299.06 Td (113) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 397.00 299.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 417.50 299.06 Td (975) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 441.00 299.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 454.75 299.06 Td (2,881) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 485.00 299.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 505.50 299.06 Td (173) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 529.00 299.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 554.00 299.06 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 53.00 285.83 Td (Components on the Consolidated Balance) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 62.00 277.83 Td (Sheet) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.00 263.85 Td ( Pension benefits assets) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 221.00 264.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 246.00 264.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 265.00 264.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 285.50 264.06 Td (478) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 309.00 264.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 334.00 264.06 Td (10) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 353.00 264.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 378.00 264.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 397.00 264.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 422.00 264.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 441.00 264.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 461.50 264.06 Td (617) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 485.00 264.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 514.50 264.06 Td (6) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 529.00 264.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 554.00 264.06 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.00 249.85 Td ( Current liability for pension benefits) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 221.00 250.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 243.00 250.06 Td (\(47) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 255.00 250.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 265.00 250.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 290.00 250.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 309.00 250.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 335.50 250.06 Td (\(7) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 343.00 250.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 353.00 250.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 379.50 250.06 Td (\(3) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 387.00 250.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 397.00 250.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 422.00 250.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 441.00 250.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 466.00 250.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 485.00 250.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 510.00 250.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 529.00 250.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 554.00 250.06 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.00 235.85 Td ( Non-current liability for pension benefits) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 221.00 236.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 238.50 236.06 Td (\(842) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 255.00 236.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 265.00 236.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 287.00 236.06 Td (\(17) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 299.00 236.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 309.00 236.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 326.50 236.06 Td (\(268) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 343.00 236.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 353.00 236.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 370.50 236.06 Td (\(106) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 387.00 236.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 397.00 236.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 414.50 236.06 Td (\(227) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 431.00 236.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 441.00 236.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 463.00 236.06 Td (\(20) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 475.00 236.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 485.00 236.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 507.00 236.06 Td (\(32) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 519.00 236.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 529.00 236.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 554.00 236.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 221.00 222.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 238.50 222.06 Td (\(889) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 255.00 222.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 265.00 222.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 285.50 222.06 Td (461) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 309.00 222.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 326.50 222.06 Td (\(265) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 343.00 222.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 353.00 222.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 370.50 222.06 Td (\(109) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 387.00 222.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 397.00 222.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 414.50 222.06 Td (\(227) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 431.00 222.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 441.00 222.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 461.50 222.06 Td (597) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 485.00 222.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 507.00 222.06 Td (\(26) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 519.00 222.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 529.00 222.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 554.00 222.06 Td () Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 197.10 Td (Amounts recognized in accumulated other comprehensive loss as of December 31, 2016 and 2015 consist of:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 158.60 168.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 218.50 158.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 258.50 158.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 262.50 158.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.50 158.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.50 158.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.50 158.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.50 158.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.50 158.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 158.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.50 158.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 158.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.50 158.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 158.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 522.50 158.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 526.50 158.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 130.60 168.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 218.50 130.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 258.50 130.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 262.50 130.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.50 130.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.50 130.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.50 130.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.50 130.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.50 130.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 130.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.50 130.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 130.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.50 130.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 130.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 522.50 130.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 526.50 130.60 40.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 218.5 172.60000000000002 m 258.5 172.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 258.5 172.60000000000002 m 262.5 172.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 262.5 172.60000000000002 m 302.5 172.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 302.5 172.60000000000002 m 306.5 172.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 306.5 172.60000000000002 m 346.5 172.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 346.5 172.60000000000002 m 350.5 172.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 172.60000000000002 m 390.5 172.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 172.60000000000002 m 434.5 172.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434.5 172.60000000000002 m 438.5 172.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 172.60000000000002 m 478.5 172.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 172.60000000000002 m 482.5 172.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 172.60000000000002 m 522.5 172.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 522.5 172.60000000000002 m 526.5 172.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 526.5 172.60000000000002 m 566.5 172.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 218.5 158.60000000000002 m 258.5 158.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 262.5 158.60000000000002 m 302.5 158.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 306.5 158.60000000000002 m 346.5 158.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 158.60000000000002 m 390.5 158.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 158.60000000000002 m 434.5 158.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 158.60000000000002 m 478.5 158.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 158.60000000000002 m 522.5 158.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 526.5 158.60000000000002 m 566.5 158.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 158.60000000000002 m 434.5 158.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 158.60000000000002 m 478.5 158.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 158.60000000000002 m 522.5 158.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 526.5 158.60000000000002 m 566.5 158.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 218.5 130.60000000000002 m 258.5 130.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 218.5 117.60000000000002 m 258.5 117.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 218.5 115.60000000000002 m 258.5 115.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 262.5 130.60000000000002 m 302.5 130.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 262.5 117.60000000000002 m 302.5 117.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 262.5 115.60000000000002 m 302.5 115.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 306.5 130.60000000000002 m 346.5 130.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 306.5 117.60000000000002 m 346.5 117.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 306.5 115.60000000000002 m 346.5 115.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 130.60000000000002 m 390.5 130.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 117.60000000000002 m 390.5 117.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 115.60000000000002 m 390.5 115.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 130.60000000000002 m 434.5 130.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 117.60000000000002 m 434.5 117.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 115.60000000000002 m 434.5 115.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 130.60000000000002 m 478.5 130.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 117.60000000000002 m 478.5 117.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 115.60000000000002 m 478.5 115.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 130.60000000000002 m 522.5 130.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 117.60000000000002 m 522.5 117.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 115.60000000000002 m 522.5 115.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 526.5 130.60000000000002 m 566.5 130.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 526.5 117.60000000000002 m 566.5 117.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 526.5 115.60000000000002 m 566.5 115.60000000000002 l s BT /F2 9.00 Tf ET q 0 0 0 rg BT 295.00 177.05 Td (2016) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 471.00 177.05 Td (2015) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 229.95 163.05 Td (U.S.) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 273.00 163.05 Td (U.K.) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 314.55 163.05 Td (Other) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 359.70 163.05 Td (PRW) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 405.95 163.05 Td (U.S.) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 449.00 163.05 Td (U.K.) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 490.55 163.05 Td (Other) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 535.70 163.05 Td (PRW) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 148.85 Td (Net actuarial loss) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 221.00 149.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 241.50 149.06 Td (603) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 265.00 149.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 285.50 149.06 Td (918) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 309.00 149.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 334.00 149.06 Td (80) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 353.00 149.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 382.50 149.06 Td (4) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 397.00 149.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 417.50 149.06 Td (378) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 441.00 149.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 461.50 149.06 Td (790) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 485.00 149.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 510.00 149.06 Td (25) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 529.00 149.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 554.00 149.06 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 134.85 Td (Net prior service gain) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 246.00 135.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 282.50 135.06 Td (\(147) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 299.00 135.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 334.00 135.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 378.00 135.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 422.00 135.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 458.50 135.06 Td (\(196) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 475.00 135.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 510.00 135.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 554.00 135.06 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 120.85 Td (Accumulated other comprehensive loss) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 221.00 121.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 241.50 121.06 Td (603) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 265.00 121.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 285.50 121.06 Td (771) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 309.00 121.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 334.00 121.06 Td (80) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 353.00 121.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 382.50 121.06 Td (4) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 397.00 121.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 417.50 121.06 Td (378) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 441.00 121.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 461.50 121.06 Td (594) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 485.00 121.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 510.00 121.06 Td (25) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 529.00 121.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 554.00 121.06 Td () Tj ET Q BT /F1 10.00 Tf ET endstream endobj 229 0 obj <> endobj 230 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.65 31.60 Td (1) Tj ET Q q 0 0 0 rg BT 303.28 31.60 Td (14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (The following table presents the projected benefit obligation and fair value of plan assets for our plans that have a projected ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (benefit obligation in excess of plan assets as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.23 730.10 Td (December 31, 2016 and 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.25 730.10 Td (:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 691.60 168.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 218.50 691.60 54.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 272.50 691.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 276.50 691.60 54.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 330.50 691.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 334.50 691.60 54.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.50 691.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 392.50 691.60 54.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 446.50 691.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.50 691.60 54.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 691.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.50 691.60 54.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 218.5 705.6 m 272.5 705.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272.5 705.6 m 276.5 705.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 276.5 705.6 m 330.5 705.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 705.6 m 334.5 705.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 334.5 705.6 m 388.5 705.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 705.6 m 446.5 705.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 446.5 705.6 m 450.5 705.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 450.5 705.6 m 504.5 705.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 705.6 m 508.5 705.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508.5 705.6 m 562.5 705.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 218.5 705.6 m 272.5 705.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 218.5 691.6 m 272.5 691.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 276.5 705.6 m 330.5 705.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 276.5 691.6 m 330.5 691.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 334.5 705.6 m 388.5 705.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 334.5 691.6 m 388.5 691.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 705.6 m 446.5 705.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 691.6 m 446.5 691.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 450.5 705.6 m 504.5 705.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 450.5 691.6 m 504.5 691.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508.5 705.6 m 562.5 705.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508.5 691.6 m 562.5 691.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 218.5 691.6 m 272.5 691.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 276.5 691.6 m 330.5 691.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 334.5 691.6 m 388.5 691.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 691.6 m 446.5 691.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 450.5 691.6 m 504.5 691.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508.5 691.6 m 562.5 691.6 l s BT /F2 9.00 Tf ET q 0 0 0 rg BT 294.00 710.05 Td (2016) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 468.00 710.05 Td (2015) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 236.95 696.05 Td (U.S.) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 294.00 696.05 Td (U.K.) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 349.55 696.05 Td (Other) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 410.95 696.05 Td (U.S.) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 468.00 696.05 Td (U.K.) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 523.55 696.05 Td (Other) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 683.55 Td (Projected benefit obligation at end of year) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 221.00 682.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 248.75 682.06 Td (4,169) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 279.00 682.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 313.50 682.06 Td (843) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 337.00 682.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 371.50 682.06 Td (686) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 395.00 682.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 429.50 682.06 Td (976) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 453.00 682.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 487.50 682.06 Td (204) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 511.00 682.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 550.00 682.06 Td (52) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 669.55 Td (Fair value of plan assets at end of year) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 221.00 668.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 248.75 668.06 Td (3,280) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 279.00 668.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 313.50 668.06 Td (825) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 337.00 668.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 371.50 668.06 Td (411) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 395.00 668.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 429.50 668.06 Td (749) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 453.00 668.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 487.50 668.06 Td (184) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 511.00 668.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 550.00 668.06 Td (19) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 643.10 Td (The following table presents the projected benefit obligation, accumulated benefit obligation and fair value of plan assets for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 631.10 Td (our plans that have an accumulated benefit obligation in excess of plan assets as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.51 631.10 Td (December 31, 2016 and 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.53 631.10 Td (.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 592.60 168.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 218.50 592.60 54.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 272.50 592.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 276.50 592.60 54.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 330.50 592.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 334.50 592.60 54.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.50 592.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 392.50 592.60 54.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 446.50 592.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.50 592.60 54.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 592.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.50 592.60 54.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 564.60 168.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 218.50 564.60 54.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 272.50 564.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 276.50 564.60 54.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 330.50 564.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 334.50 564.60 54.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.50 564.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 392.50 564.60 54.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 446.50 564.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.50 564.60 54.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 564.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.50 564.60 54.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 218.5 606.6 m 272.5 606.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272.5 606.6 m 276.5 606.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 276.5 606.6 m 330.5 606.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 606.6 m 334.5 606.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 334.5 606.6 m 388.5 606.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 606.6 m 446.5 606.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 446.5 606.6 m 450.5 606.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 450.5 606.6 m 504.5 606.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 606.6 m 508.5 606.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508.5 606.6 m 562.5 606.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 218.5 592.6 m 272.5 592.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 276.5 592.6 m 330.5 592.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 334.5 592.6 m 388.5 592.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 592.6 m 446.5 592.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 450.5 592.6 m 504.5 592.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508.5 592.6 m 562.5 592.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 276.5 592.6 m 330.5 592.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 334.5 592.6 m 388.5 592.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 592.6 m 446.5 592.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 450.5 592.6 m 504.5 592.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508.5 592.6 m 562.5 592.6 l s BT /F2 9.00 Tf ET q 0 0 0 rg BT 294.00 611.05 Td (2016) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 468.00 611.05 Td (2015) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 236.95 597.05 Td (U.S.) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 294.00 597.05 Td (U.K.) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 349.55 597.05 Td (Other) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 410.95 597.05 Td (U.S.) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 468.00 597.05 Td (U.K.) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 523.55 597.05 Td (Other) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 584.55 Td (Projected benefit obligation at end of year) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 221.00 583.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 248.75 583.06 Td (4,169) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 279.00 583.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 313.50 583.06 Td (843) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 337.00 583.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 371.50 583.06 Td (686) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 395.00 583.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 429.50 583.06 Td (976) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 453.00 583.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 487.50 583.06 Td (204) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 511.00 583.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 550.00 583.06 Td (33) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 570.55 Td (Accumulated benefit obligation at end of year) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 221.00 569.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 248.75 569.06 Td (4,169) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 279.00 569.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 313.50 569.06 Td (843) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 337.00 569.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 371.50 569.06 Td (650) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 395.00 569.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 429.50 569.06 Td (975) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 453.00 569.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 487.50 569.06 Td (204) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 511.00 569.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 550.00 569.06 Td (26) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 556.55 Td (Fair value of plan assets at end of year) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 221.00 555.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 248.75 555.06 Td (3,280) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 279.00 555.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 313.50 555.06 Td (825) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 337.00 555.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 371.50 555.06 Td (411) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 395.00 555.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 429.50 555.06 Td (749) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 453.00 555.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 487.50 555.06 Td (184) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 511.00 555.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 554.50 555.06 Td (4) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 530.10 Td (The components of the net periodic benefit income and other amounts recognized in other comprehensive \(income\)/loss for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 518.10 Td (years ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.48 518.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.98 518.10 Td (December 31,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 156.06 518.10 Td ( 2016, 2015 and 2014 for the defined benefit plans and PR) Tj ET Q q 0 0 0 rg BT 389.35 518.10 Td (W) Tj ET Q q 0 0 0 rg BT 398.61 518.10 Td ( plan are as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 481.60 168.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 218.50 481.60 28.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 246.50 481.60 28.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 274.50 481.60 28.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.50 481.60 28.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 330.50 481.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 334.50 481.60 28.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.50 481.60 28.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.50 481.60 28.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 481.60 28.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 446.50 481.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.50 481.60 28.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.50 481.60 28.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.50 481.60 28.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 534.50 481.60 28.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 451.60 168.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 218.50 451.60 28.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 246.50 451.60 28.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 274.50 451.60 28.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.50 451.60 28.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 330.50 451.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 334.50 451.60 28.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.50 451.60 28.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.50 451.60 28.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 451.60 28.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 446.50 451.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.50 451.60 28.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.50 451.60 28.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.50 451.60 28.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 534.50 451.60 28.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 421.60 168.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 218.50 421.60 28.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 246.50 421.60 28.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 274.50 421.60 28.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.50 421.60 28.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 330.50 421.60 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 334.50 421.60 28.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.50 421.60 28.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.50 421.60 28.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 421.60 28.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 446.50 421.60 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.50 421.60 28.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.50 421.60 28.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.50 421.60 28.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 534.50 421.60 28.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 385.60 168.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 218.50 385.60 28.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 246.50 385.60 28.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 274.50 385.60 28.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.50 385.60 28.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 330.50 385.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 334.50 385.60 28.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.50 385.60 28.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.50 385.60 28.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 385.60 28.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 446.50 385.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.50 385.60 28.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.50 385.60 28.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.50 385.60 28.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 534.50 385.60 28.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 355.60 168.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 218.50 355.60 28.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 246.50 355.60 28.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 274.50 355.60 28.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.50 355.60 28.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 330.50 355.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 334.50 355.60 28.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.50 355.60 28.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.50 355.60 28.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 355.60 28.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 446.50 355.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.50 355.60 28.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.50 355.60 28.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.50 355.60 28.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 534.50 355.60 28.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 315.60 168.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 218.50 315.60 28.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 246.50 315.60 28.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 274.50 315.60 28.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.50 315.60 28.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 330.50 315.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 334.50 315.60 28.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.50 315.60 28.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.50 315.60 28.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 315.60 28.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 446.50 315.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.50 315.60 28.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.50 315.60 28.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.50 315.60 28.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 534.50 315.60 28.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 284.60 168.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 218.50 284.60 28.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 246.50 284.60 28.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 274.50 284.60 28.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.50 284.60 28.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 330.50 284.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 334.50 284.60 28.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.50 284.60 28.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.50 284.60 28.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 284.60 28.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 446.50 284.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.50 284.60 28.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.50 284.60 28.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.50 284.60 28.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 534.50 284.60 28.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 248.60 168.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 218.50 248.60 28.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 246.50 248.60 28.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 274.50 248.60 28.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.50 248.60 28.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 330.50 248.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 334.50 248.60 28.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.50 248.60 28.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.50 248.60 28.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 248.60 28.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 446.50 248.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.50 248.60 28.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.50 248.60 28.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.50 248.60 28.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 534.50 248.60 28.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 218.60 168.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 218.50 218.60 28.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 246.50 218.60 28.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 274.50 218.60 28.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.50 218.60 28.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 330.50 218.60 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 334.50 218.60 28.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.50 218.60 28.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.50 218.60 28.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 218.60 28.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 446.50 218.60 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.50 218.60 28.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.50 218.60 28.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.50 218.60 28.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 534.50 218.60 28.00 -21.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 218.5 494.6 m 246.5 494.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 246.5 494.6 m 274.5 494.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 274.5 494.6 m 302.5 494.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 302.5 494.6 m 330.5 494.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 334.5 494.6 m 362.5 494.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362.5 494.6 m 390.5 494.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390.5 494.6 m 418.5 494.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 494.6 m 446.5 494.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 450.5 494.6 m 478.5 494.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 494.6 m 506.5 494.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 494.6 m 534.5 494.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 534.5 494.6 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 218.5 481.6 m 246.5 481.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 246.5 481.6 m 274.5 481.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 274.5 481.6 m 302.5 481.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 302.5 481.6 m 330.5 481.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 334.5 481.6 m 362.5 481.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362.5 481.6 m 390.5 481.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390.5 481.6 m 418.5 481.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 481.6 m 446.5 481.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 450.5 481.6 m 478.5 481.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 481.6 m 506.5 481.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 481.6 m 534.5 481.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 534.5 481.6 m 562.5 481.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 450.5 355.6 m 478.5 355.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 355.6 m 506.5 355.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 355.6 m 534.5 355.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 534.5 355.6 m 562.5 355.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 218.5 355.6 m 246.5 355.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 218.5 340.6 m 246.5 340.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 246.5 355.6 m 274.5 355.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 246.5 340.6 m 274.5 340.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 274.5 355.6 m 302.5 355.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 274.5 340.6 m 302.5 340.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 302.5 355.6 m 330.5 355.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 302.5 340.6 m 330.5 340.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 334.5 355.6 m 362.5 355.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 334.5 340.6 m 362.5 340.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362.5 355.6 m 390.5 355.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362.5 340.6 m 390.5 340.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390.5 355.6 m 418.5 355.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390.5 340.6 m 418.5 340.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 355.6 m 446.5 355.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 340.6 m 446.5 340.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 450.5 355.6 m 478.5 355.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 450.5 340.6 m 478.5 340.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 355.6 m 506.5 355.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 340.6 m 506.5 340.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 355.6 m 534.5 355.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 340.6 m 534.5 340.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 534.5 355.6 m 562.5 355.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 534.5 340.6 m 562.5 340.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 334.5 218.60000000000002 m 362.5 218.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362.5 218.60000000000002 m 390.5 218.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390.5 218.60000000000002 m 418.5 218.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 218.60000000000002 m 446.5 218.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 450.5 218.60000000000002 m 478.5 218.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 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gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 450.5 197.60000000000002 m 478.5 197.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 450.5 177.60000000000002 m 478.5 177.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 450.5 175.60000000000002 m 478.5 175.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 197.60000000000002 m 506.5 197.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 177.60000000000002 m 506.5 177.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 175.60000000000002 m 506.5 175.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 197.60000000000002 m 534.5 197.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 177.60000000000002 m 534.5 177.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 175.60000000000002 m 534.5 175.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 534.5 197.60000000000002 m 562.5 197.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 534.5 177.60000000000002 m 562.5 177.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 534.5 175.60000000000002 m 562.5 175.60000000000002 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 266.00 498.83 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 382.00 498.83 Td (2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 498.00 498.83 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 224.85 485.83 Td (U.S.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 252.00 485.83 Td (U.K.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 277.85 485.83 Td (Other) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 306.85 485.83 Td (PRW) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 340.85 485.83 Td (U.S.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 368.00 485.83 Td (U.K.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 393.85 485.83 Td (Other) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 422.85 485.83 Td (PRW) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 456.85 485.83 Td (U.S.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 484.00 485.83 Td (U.K.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 509.85 485.83 Td (Other) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 538.85 485.83 Td (PRW) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 470.85 Td (Components of net periodic benefit \(income\)/cost:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 65.00 455.85 Td (Service cost) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 221.00 455.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 235.30 455.85 Td (59) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 249.00 455.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 263.30 455.85 Td (24) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 277.00 455.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 291.30 455.85 Td (19) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 305.00 455.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 323.30 455.85 Td (1) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 337.00 455.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 351.30 455.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 365.00 455.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 379.30 455.85 Td (33) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 393.00 455.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 411.30 455.85 Td (3) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 421.00 455.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 435.30 455.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 453.00 455.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 467.30 455.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 481.00 455.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 495.30 455.85 Td (41) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 509.00 455.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 527.30 455.85 Td (3) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 537.00 455.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 551.30 455.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 65.00 440.85 Td (Interest cost) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 231.30 440.85 Td (137) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 259.30 440.85 Td (114) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 291.30 440.85 Td (18) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 323.30 440.85 Td (3) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 351.30 440.85 Td (41) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 375.30 440.85 Td (107) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 411.30 440.85 Td (3) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 435.30 440.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 467.30 440.85 Td (41) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 491.30 440.85 Td (121) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 527.30 440.85 Td (6) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 551.30 440.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 65.00 425.85 Td (Expected return on plan assets) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 228.60 425.85 Td (\(240) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 243.30 425.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 256.60 425.85 Td (\(253) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 271.30 425.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 288.60 425.85 Td (\(27) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 299.30 425.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 319.30 425.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 348.60 425.85 Td (\(57) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 359.30 425.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 372.60 425.85 Td (\(230) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 387.30 425.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 408.60 425.85 Td (\(3) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 415.30 425.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 435.30 425.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 464.60 425.85 Td (\(54) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 475.30 425.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 488.60 425.85 Td (\(213) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 503.30 425.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 524.60 425.85 Td (\(6) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 531.30 425.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 551.30 425.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 65.00 412.85 Td (Amortization of unrecognized prior service) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 65.00 404.85 Td (credit) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 235.30 404.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 260.60 404.85 Td (\(19) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 271.30 404.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 291.30 404.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 319.30 404.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 351.30 404.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 376.60 404.85 Td (\(18) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 387.30 404.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 407.30 404.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 435.30 404.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 467.30 404.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 496.60 404.85 Td (\(4) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 503.30 404.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 523.30 404.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 551.30 404.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 65.00 389.85 Td (Amortization of unrecognized actuarial loss) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 235.30 389.85 Td (12) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 263.30 389.85 Td (42) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 291.30 389.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 319.30 389.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 351.30 389.85 Td (11) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 379.30 389.85 Td (36) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 411.30 389.85 Td (1) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 435.30 389.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 471.30 389.85 Td (6) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 495.30 389.85 Td (42) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 523.30 389.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 551.30 389.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 65.00 374.85 Td (Settlement) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 235.30 374.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 263.30 374.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 295.30 374.85 Td (5) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 319.30 374.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 351.30 374.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 379.30 374.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 407.30 374.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 435.30 374.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 467.30 374.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 495.30 374.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 523.30 374.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 551.30 374.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 65.00 359.85 Td (Curtailment gain) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 235.30 359.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 263.30 359.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 291.30 359.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 319.30 359.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 351.30 359.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 380.60 359.85 Td (\(5) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 387.30 359.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 407.30 359.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 435.30 359.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 467.30 359.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 495.30 359.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 523.30 359.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 551.30 359.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 344.85 Td (Net periodic benefit \(income\)/cost) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 221.00 344.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 232.60 344.85 Td (\(32) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 243.30 344.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 249.00 344.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 260.60 344.85 Td (\(92) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 271.30 344.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 277.00 344.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 291.30 344.85 Td (15) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 305.00 344.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 323.30 344.85 Td (4) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 337.00 344.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 352.60 344.85 Td (\(5) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 359.30 344.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 365.00 344.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 376.60 344.85 Td (\(77) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 387.30 344.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 393.00 344.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 411.30 344.85 Td (4) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 421.00 344.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 435.30 344.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 453.00 344.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 468.60 344.85 Td (\(7) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 475.30 344.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 481.00 344.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 492.60 344.85 Td (\(13) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 503.30 344.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 509.00 344.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 527.30 344.85 Td (3) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 537.00 344.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 551.30 344.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 65.00 332.55 Td (Other changes in plan assets and benefit) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 74.00 324.55 Td (obligations recognized in other) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 74.00 316.60 Td (comprehensive loss/\(income\):) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 65.00 304.85 Td (Net actuarial loss/\(gain\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 221.00 304.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 231.30 304.85 Td (238) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 249.00 304.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 259.30 304.85 Td (323) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 277.00 304.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 291.30 304.85 Td (62) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 305.00 304.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 323.30 304.85 Td (4) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 337.00 304.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 348.60 304.85 Td (\(16) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 359.30 304.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 365.00 304.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 379.30 304.85 Td (59) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 393.00 304.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 408.60 304.85 Td (\(5) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 415.30 304.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 421.00 304.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 435.30 304.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 453.00 304.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 463.30 304.85 Td (174) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 481.00 304.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 495.30 304.85 Td (83) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 509.00 304.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 523.30 304.85 Td (17) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 537.00 304.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 551.30 304.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.00 288.85 Td (Amortization of unrecognized actuarial loss) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 232.60 288.85 Td (\(12) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 243.30 288.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 260.60 288.85 Td (\(42) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 271.30 288.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 291.30 288.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 319.30 288.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 348.60 288.85 Td (\(11) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 359.30 288.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 376.60 288.85 Td (\(36) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 387.30 288.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 408.60 288.85 Td (\(1) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 415.30 288.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 435.30 288.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 468.60 288.85 Td (\(6) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 475.30 288.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 492.60 288.85 Td (\(42) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 503.30 288.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 523.30 288.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 551.30 288.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 65.00 273.85 Td (Prior service gain) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 235.30 273.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 263.30 273.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 291.30 273.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 319.30 273.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 351.30 273.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 372.60 273.85 Td (\(215) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 387.30 273.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 407.30 273.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 435.30 273.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 467.30 273.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 495.30 273.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 523.30 273.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 551.30 273.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 65.00 260.85 Td (Amortization of unrecognized prior service) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 74.00 252.85 Td (credit) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 235.30 252.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 263.30 252.85 Td (19) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 291.30 252.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 319.30 252.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 351.30 252.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 379.30 252.85 Td (18) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 407.30 252.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 435.30 252.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 467.30 252.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 499.30 252.85 Td (4) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 523.30 252.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 551.30 252.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 65.00 237.85 Td (Settlement) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 235.30 237.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 263.30 237.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 292.60 237.85 Td (\(8) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 299.30 237.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 319.30 237.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 351.30 237.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 379.30 237.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 407.30 237.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 435.30 237.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 467.30 237.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 495.30 237.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 523.30 237.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 551.30 237.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 65.00 222.85 Td (Curtailment loss/\(gain\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 235.30 222.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 263.30 222.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 291.30 222.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 319.30 222.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 351.30 222.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 379.30 222.85 Td (18) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 407.30 222.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 435.30 222.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 467.30 222.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 496.60 222.85 Td (\(2) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 503.30 222.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 523.30 222.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 551.30 222.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 209.85 Td (Total recognized in other comprehensive loss/) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 66.50 201.85 Td (\(income\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 231.30 201.85 Td (226) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 259.30 201.85 Td (300) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 291.30 201.85 Td (54) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 323.30 201.85 Td (4) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 348.60 201.85 Td (\(27) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 359.30 201.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 372.60 201.85 Td (\(156) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 387.30 201.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 408.60 201.85 Td (\(6) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 415.30 201.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 435.30 201.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 463.30 201.85 Td (168) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 495.30 201.85 Td (43) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 523.30 201.85 Td (17) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 551.30 201.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 188.85 Td (Total recognized in net periodic benefit \(income\)/) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 66.50 180.85 Td (cost and other comprehensive loss/\(income\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 221.00 180.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 231.30 180.85 Td (194) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 249.00 180.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 259.30 180.85 Td (208) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 277.00 180.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 291.30 180.85 Td (69) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 305.00 180.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 323.30 180.85 Td (8) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 337.00 180.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 348.60 180.85 Td (\(32) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 359.30 180.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 365.00 180.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 372.60 180.85 Td (\(233) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 387.30 180.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 393.00 180.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 408.60 180.85 Td (\(2) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 415.30 180.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 421.00 180.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 435.30 180.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 453.00 180.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 463.30 180.85 Td (161) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 481.00 180.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 495.30 180.85 Td (30) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 509.00 180.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 523.30 180.85 Td (20) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 537.00 180.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 551.30 180.85 Td () Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 156.10 Td (During fiscal year 2016, ) Tj ET Q q 0 0 0 rg BT 149.51 156.10 Td (WTW) Tj ET Q q 0 0 0 rg BT 174.32 156.10 Td ( adopted the granular approach to calculating service and interest cost. ) Tj ET Q q 0 0 0 rg BT 457.91 156.10 Td (This was treated as a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 144.10 Td (change in accounting estimate, and resulted in a credit of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 280.19 144.10 Td ($51 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.58 144.10 Td ( included in our total net periodic benefit income reflected ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 132.10 Td (above.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.38 132.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 111.10 Td (On March 6, 2015, Legacy ) Tj ET Q q 0 0 0 rg BT 160.06 111.10 Td (W) Tj ET Q q 0 0 0 rg BT 169.10 111.10 Td (illis announced to members of the U.K. defined benefit pension plan that with ef) Tj ET Q q 0 0 0 rg BT 490.78 111.10 Td (fect from June ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 99.10 Td (30, 2015, future salary increases would not be pensionable \(the salary freeze\). Legacy ) Tj ET Q q 0 0 0 rg BT 402.45 99.10 Td (W) Tj ET Q q 0 0 0 rg BT 411.49 99.10 Td (illis recognized the salary freeze as a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 87.10 Td (plan amendment at the announcement date. ) Tj ET Q q 0 0 0 rg BT 225.59 87.10 Td (The impact of the salary freeze reduced the plan) Tj ET Q q 0 0 0 rg BT 421.04 87.10 Td (s projected benefit obligation by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 75.10 Td (approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 110.26 75.10 Td ($215 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 161.65 75.10 Td ( and created a prior service credit which is recognized in other comprehensive income and then ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 63.10 Td (amortized to the consolidated statement of operations over the remaining expected service life of active employees. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.99 63.10 Td ( ) Tj ET Q endstream endobj 231 0 obj <> endobj 232 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.65 31.60 Td (1) Tj ET Q q 0 0 0 rg BT 303.28 31.60 Td (15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (The estimated net actuarial loss and prior service cost for the defined benefit plans that will be amortized from accumulated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (other comprehensive loss into net periodic benefit cost over the next fiscal year are:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 693.60 284.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 334.50 693.60 54.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.50 693.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 392.50 693.60 54.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 446.50 693.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.50 693.60 54.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 693.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.50 693.60 54.00 -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 334.5 706.6 m 388.5 706.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 706.6 m 446.5 706.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 450.5 706.6 m 504.5 706.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508.5 706.6 m 562.5 706.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 334.5 693.6 m 388.5 693.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 693.6 m 446.5 693.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 450.5 693.6 m 504.5 693.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508.5 693.6 m 562.5 693.6 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 381.35 710.83 Td (For the Year Ended December 31, 2017) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 192.00 697.85 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 353.85 697.83 Td (U.S.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 412.00 697.83 Td (U.K) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 466.85 697.83 Td (Other) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 525.85 697.83 Td (PRW) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 683.27 Td (Estimated net actuarial loss) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.00 683.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.65 683.27 Td (13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.00 683.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.65 683.27 Td (51) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.00 683.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 683.27 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.00 683.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 683.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 668.27 Td (Prior service gain) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.00 668.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.65 668.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.00 668.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.30 668.32 Td (\(17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.65 668.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.00 668.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.65 668.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.00 668.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 668.27 Td () Tj ET Q BT /F1 10.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 643.10 Td (Assumptions Used in the V) Tj ET Q q 0 0 0 rg BT 156.11 643.10 Td (aluations of the Defined Benefit Pension Plans and PR) Tj ET Q q 0 0 0 rg BT 375.34 643.10 Td (W Plan) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 405.05 643.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (The determination of the Company) Tj ET Q q 0 0 0 rg BT 193.30 622.10 Td (s obligations and annual expense under the plans is based on a number of assumptions that, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (given the longevity of the plans, are long-term in focus. ) Tj ET Q q 0 0 0 rg BT 274.39 610.10 Td (A) Tj ET Q q 0 0 0 rg BT 281.06 610.10 Td ( change in one or a combination of these assumptions could have a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td (material impact on our projected benefit obligation. However) Tj ET Q q 0 0 0 rg BT 295.07 598.10 Td (, certain of these changes, such as changes in the discount rate and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (actuarial assumptions, are not recognized immediately in net income, but are instead recorded in other comprehensive income. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (The accumulated gains and losses not yet recognized in net income are amortized into net income as a component of the net ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (periodic benefit cost/\(credit\) generally based on the average working life expectancy of the plan) Tj ET Q q 0 0 0 rg BT 436.78 562.10 Td (s active participants to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (extent that the net gains or losses as of the beginning of the year exceed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.07 550.10 Td (10%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.40 550.10 Td ( of the greater of the market-related value of plan ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (assets or the projected benefit obligation. ) Tj ET Q q 0 0 0 rg BT 216.71 538.10 Td (The average remaining service period of participants for the PR) Tj ET Q q 0 0 0 rg BT 470.79 538.10 Td (W) Tj ET Q q 0 0 0 rg BT 480.04 538.10 Td ( plan is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 110.26 526.10 Td (9.5 years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 146.36 526.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 148.86 526.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 505.10 Td (The Company considers several factors prior to the start of each fiscal year when determining the appropriate annual ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 493.10 Td (assumptions, including economic forecasts, relevant benchmarks, historical trends, portfolio composition and peer company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 481.10 Td (comparisons. ) Tj ET Q q 0 0 0 rg BT 105.37 481.10 Td (These assumptions, used to determine our pension liabilities and pension expense, are reviewed annually by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 469.10 Td (senior management and changed when appropriate. ) Tj ET Q q 0 0 0 rg BT 257.79 469.10 Td (The discount rate will be changed annually if underlying rates have moved, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 457.10 Td (whereas the expected long-term return on assets will be changed less frequently as longer term trends in asset returns emer) Tj ET Q q 0 0 0 rg BT 540.48 457.10 Td (ge or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 445.10 Td (long-term tar) Tj ET Q q 0 0 0 rg BT 102.30 445.10 Td (get asset allocations are revised. ) Tj ET Q q 0 0 0 rg BT 233.18 445.10 Td (T) Tj ET Q q 0 0 0 rg BT 238.59 445.10 Td (o calculate the discount rate, we use the granular approach to determining ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 433.10 Td (service and interest costs. ) Tj ET Q q 0 0 0 rg BT 154.51 433.10 Td (The expected rate of return assumptions for all plans are supported by an analysis of the weighted-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 421.10 Td (average yield expected to be achieved based upon the anticipated makeup of the plans) Tj ET Q q 0 0 0 rg BT 396.61 421.10 Td ( investments. Other material assumptions ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 409.10 Td (include rates of participant mortality) Tj ET Q q 0 0 0 rg BT 195.41 409.10 Td (, and the expected long-term rate of compensation and pension increases.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.08 409.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 388.10 Td (The following assumptions were used in the valuations of ) Tj ET Q q 0 0 0 rg BT 283.39 388.10 Td (W) Tj ET Q q 0 0 0 rg BT 292.43 388.10 Td (illis ) Tj ET Q q 0 0 0 rg BT 309.75 388.10 Td (T) Tj ET Q q 0 0 0 rg BT 315.16 388.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 341.36 388.10 Td (W) Tj ET Q q 0 0 0 rg BT 350.00 388.10 Td (atson) Tj ET Q q 0 0 0 rg BT 373.89 388.10 Td (s defined benefit pension plans and PR) Tj ET Q q 0 0 0 rg BT 528.86 388.10 Td (W) Tj ET Q q 0 0 0 rg BT 538.12 388.10 Td ( plan. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 376.10 Td (The assumptions presented for the U.S. plans represent the weighted-average of rates for all U.S. plans. ) Tj ET Q q 0 0 0 rg BT 466.08 376.10 Td (The assumptions ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 364.10 Td (presented for the U.K. plans represent the weighted-average of rates for the U.K. plans. ) Tj ET Q q 0 0 0 rg BT 401.63 364.10 Td (The assumptions presented for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 352.10 Td (Other plans represent the weighted-average of rates for the Canada, France, Germany) Tj ET Q q 0 0 0 rg BT 391.14 352.10 Td (, Ireland, and Netherlands plans.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.82 352.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 331.10 Td (The assumptions used to determine net periodic benefit cost for the fiscal years ended December 31, 2016, 2015 and 2014 were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 319.10 Td (as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 269.60 168.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 218.50 269.60 28.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 246.50 269.60 28.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 274.50 269.60 28.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.50 269.60 28.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 330.50 269.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 334.50 269.60 28.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.50 269.60 28.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.50 269.60 28.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 269.60 28.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 446.50 269.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.50 269.60 28.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.50 269.60 28.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.50 269.60 28.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 534.50 269.60 28.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 243.60 168.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 218.50 243.60 28.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 246.50 243.60 28.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 274.50 243.60 28.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.50 243.60 28.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 330.50 243.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 334.50 243.60 28.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.50 243.60 28.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.50 243.60 28.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 243.60 28.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 446.50 243.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.50 243.60 28.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.50 243.60 28.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.50 243.60 28.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 534.50 243.60 28.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 217.60 168.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 218.50 217.60 28.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 246.50 217.60 28.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 274.50 217.60 28.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.50 217.60 28.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 330.50 217.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 334.50 217.60 28.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.50 217.60 28.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.50 217.60 28.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 217.60 28.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 446.50 217.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.50 217.60 28.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.50 217.60 28.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.50 217.60 28.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 534.50 217.60 28.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 191.60 168.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 218.50 191.60 28.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 246.50 191.60 28.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 274.50 191.60 28.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.50 191.60 28.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 330.50 191.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 334.50 191.60 28.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.50 191.60 28.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.50 191.60 28.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 191.60 28.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 446.50 191.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.50 191.60 28.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.50 191.60 28.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.50 191.60 28.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 534.50 191.60 28.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 165.60 168.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 218.50 165.60 28.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 246.50 165.60 28.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 274.50 165.60 28.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.50 165.60 28.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 330.50 165.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 334.50 165.60 28.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.50 165.60 28.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.50 165.60 28.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 165.60 28.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 446.50 165.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.50 165.60 28.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.50 165.60 28.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.50 165.60 28.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 534.50 165.60 28.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 139.60 168.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 218.50 139.60 28.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 246.50 139.60 28.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 274.50 139.60 28.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.50 139.60 28.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 330.50 139.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 334.50 139.60 28.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.50 139.60 28.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.50 139.60 28.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 139.60 28.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 446.50 139.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.50 139.60 28.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.50 139.60 28.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.50 139.60 28.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 534.50 139.60 28.00 -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 218.5 295.6 m 246.5 295.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 246.5 295.6 m 274.5 295.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 274.5 295.6 m 302.5 295.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 302.5 295.6 m 330.5 295.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 295.6 m 334.5 295.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 334.5 295.6 m 362.5 295.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362.5 295.6 m 390.5 295.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390.5 295.6 m 418.5 295.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 295.6 m 446.5 295.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 446.5 295.6 m 450.5 295.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 450.5 295.6 m 478.5 295.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 295.6 m 506.5 295.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 295.6 m 534.5 295.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 534.5 295.6 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 218.5 295.6 m 246.5 295.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 218.5 282.6 m 246.5 282.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 246.5 295.6 m 274.5 295.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 246.5 282.6 m 274.5 282.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 274.5 295.6 m 302.5 295.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 274.5 282.6 m 302.5 282.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 302.5 295.6 m 330.5 295.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 302.5 282.6 m 330.5 282.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 295.6 m 334.5 295.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 334.5 295.6 m 362.5 295.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 334.5 282.6 m 362.5 282.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362.5 295.6 m 390.5 295.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362.5 282.6 m 390.5 282.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390.5 295.6 m 418.5 295.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390.5 282.6 m 418.5 282.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 295.6 m 446.5 295.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 282.6 m 446.5 282.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 446.5 295.6 m 450.5 295.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 450.5 295.6 m 478.5 295.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 450.5 282.6 m 478.5 282.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 295.6 m 506.5 295.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 282.6 m 506.5 282.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 295.6 m 534.5 295.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 282.6 m 534.5 282.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 534.5 295.6 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 534.5 282.6 m 562.5 282.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 218.5 269.6 m 246.5 269.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 246.5 269.6 m 274.5 269.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 274.5 269.6 m 302.5 269.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 302.5 269.6 m 330.5 269.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 450.5 282.6 m 478.5 282.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 450.5 269.6 m 478.5 269.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 282.6 m 506.5 282.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 269.6 m 506.5 269.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 282.6 m 534.5 282.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 269.6 m 534.5 269.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 534.5 282.6 m 562.5 282.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 534.5 269.6 m 562.5 269.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 334.5 269.6 m 362.5 269.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362.5 269.6 m 390.5 269.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390.5 269.6 m 418.5 269.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 269.6 m 446.5 269.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 450.5 269.6 m 478.5 269.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 269.6 m 506.5 269.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 269.6 m 534.5 269.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 534.5 269.6 m 562.5 269.6 l s BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 299.86 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 344.95 299.83 Td (Years ended December 31,) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 286.86 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 266.00 286.83 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 382.00 286.83 Td (2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 498.00 286.83 Td (2014) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 273.86 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 224.85 273.83 Td (U.S.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 252.00 273.83 Td (U.K.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 277.85 273.83 Td (Other) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 306.85 273.83 Td (PRW) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 340.85 273.83 Td (U.S.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 368.00 273.83 Td (U.K.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 393.85 273.83 Td (Other) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 422.85 273.83 Td (PRW) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 456.85 273.83 Td (U.S.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 484.00 273.83 Td (U.K.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 509.85 273.83 Td (Other) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 538.85 273.83 Td (PRW) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 261.55 Td (Discount rate ) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 97.88 265.18 Td (i) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 229.65 260.85 Td (N/A) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 257.65 260.85 Td (N/A) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 285.65 260.85 Td (N/A) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 313.65 260.85 Td (N/A) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 345.30 260.85 Td (3.9) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 355.30 260.85 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 373.30 260.85 Td (3.6) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 383.30 260.85 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 401.30 260.85 Td (2.3) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 411.30 260.85 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 431.30 260.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 439.30 260.85 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 461.30 260.85 Td (4.8) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 471.30 260.85 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.30 260.85 Td (4.4) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 499.30 260.85 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 517.30 260.85 Td (3.7) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 527.30 260.85 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 547.30 260.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 555.30 260.85 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 248.55 Td (Discount rate - PBO) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 229.30 247.85 Td (4.2) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 239.30 247.85 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 257.30 247.85 Td (3.8) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 267.30 247.85 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 285.30 247.85 Td (3.2) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 295.30 247.85 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 313.30 247.85 Td (4.2) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 323.30 247.85 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 345.65 247.85 Td (N/A) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 373.65 247.85 Td (N/A) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 401.65 247.85 Td (N/A) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 431.30 247.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 439.30 247.85 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 461.65 247.85 Td (N/A) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.65 247.85 Td (N/A) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 517.65 247.85 Td (N/A) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 547.30 247.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 555.30 247.85 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 235.55 Td (Discount rate - service cost) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 229.30 234.85 Td (3.9) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 239.30 234.85 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 257.30 234.85 Td (3.8) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 267.30 234.85 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 285.30 234.85 Td (3.4) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 295.30 234.85 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 313.30 234.85 Td (4.1) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 323.30 234.85 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 345.65 234.85 Td (N/A) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 373.65 234.85 Td (N/A) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 401.65 234.85 Td (N/A) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 431.30 234.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 439.30 234.85 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 461.65 234.85 Td (N/A) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.65 234.85 Td (N/A) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 517.65 234.85 Td (N/A) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 547.30 234.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 555.30 234.85 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 222.55 Td (Discount rate - interest cost on service cost) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 229.30 221.85 Td (3.2) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 239.30 221.85 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 257.30 221.85 Td (3.8) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 267.30 221.85 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 285.30 221.85 Td (3.1) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 295.30 221.85 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 313.30 221.85 Td (3.5) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 323.30 221.85 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 345.65 221.85 Td (N/A) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 373.65 221.85 Td (N/A) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 401.65 221.85 Td (N/A) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 431.30 221.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 439.30 221.85 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 461.65 221.85 Td (N/A) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.65 221.85 Td (N/A) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 517.65 221.85 Td (N/A) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 547.30 221.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 555.30 221.85 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 209.55 Td (Discount rate - interest cost on PBO) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 229.30 208.85 Td (3.4) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 239.30 208.85 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 257.30 208.85 Td (3.4) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 267.30 208.85 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 285.30 208.85 Td (2.8) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 295.30 208.85 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 313.30 208.85 Td (3.3) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 323.30 208.85 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 345.65 208.85 Td (N/A) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 373.65 208.85 Td (N/A) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 401.65 208.85 Td (N/A) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 431.30 208.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 439.30 208.85 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 461.65 208.85 Td (N/A) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.65 208.85 Td (N/A) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 517.65 208.85 Td (N/A) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 547.30 208.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 555.30 208.85 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 196.55 Td (Expected long-term rate of return on assets ) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 192.73 200.18 Td (ii) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 229.30 195.85 Td (7.6) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 239.30 195.85 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 257.30 195.85 Td (6.2) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 267.30 195.85 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 285.30 195.85 Td (6.1) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 295.30 195.85 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 313.30 195.85 Td (2.0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 323.30 195.85 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 345.30 195.85 Td (7.3) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 355.30 195.85 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 373.30 195.85 Td (6.5) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 383.30 195.85 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 401.30 195.85 Td (3.3) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 411.30 195.85 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 431.30 195.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 439.30 195.85 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 461.30 195.85 Td (7.3) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 471.30 195.85 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.30 195.85 Td (7.0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 499.30 195.85 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 517.30 195.85 Td (3.7) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 527.30 195.85 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 547.30 195.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 555.30 195.85 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 183.55 Td (Rate of increase in compensation levels) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 229.30 182.85 Td (4.3) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 239.30 182.85 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 257.30 182.85 Td (3.2) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 267.30 182.85 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 285.30 182.85 Td (2.3) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 295.30 182.85 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 313.65 182.85 Td (N/A) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 345.65 182.85 Td (N/A) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 373.30 182.85 Td (2.9) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 383.30 182.85 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 401.30 182.85 Td (2.2) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 411.30 182.85 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 431.30 182.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 439.30 182.85 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 461.65 182.85 Td (N/A) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.30 182.85 Td (3.2) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 499.30 182.85 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 517.30 182.85 Td (2.1) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 527.30 182.85 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 547.30 182.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 555.30 182.85 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 170.55 Td (Healthcare cost trend) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 62.00 157.55 Td (Initial rate) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 313.30 156.85 Td (7.0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 323.30 156.85 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 429.65 156.85 Td (N/A) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 545.65 156.85 Td (N/A) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 62.00 144.55 Td (Ultimate rate) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 313.30 143.85 Td (5.0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 323.30 143.85 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 429.65 143.85 Td (N/A) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 545.65 143.85 Td (N/A) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 62.00 131.55 Td (Year reaching ultimate rate) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 311.00 130.85 Td (2022) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 429.65 130.85 Td (N/A) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 545.65 130.85 Td (N/A) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 112.10 Td (____________________) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 150.00 112.10 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 47.10 99.50 Td (\(i\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 65.10 99.50 Td (This discount rate represents the assumption to determine net periodic benefit cost prior to the Company) Tj ET Q q 0 0 0 rg BT 401.24 99.50 Td (s use of the granular approach to calculating ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 65.10 89.90 Td (service and interest cost which began for the 2016 fiscal year) Tj ET Q q 0 0 0 rg BT 260.14 89.90 Td (.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 262.14 89.90 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 47.10 77.30 Td (\(ii\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 65.10 77.30 Td (As part of the salary freeze negotiations with the Scheme ) Tj ET Q q 0 0 0 rg BT 249.78 77.30 Td (T) Tj ET Q q 0 0 0 rg BT 254.38 77.30 Td (rustee, Legacy ) Tj ET Q q 0 0 0 rg BT 302.88 77.30 Td (W) Tj ET Q q 0 0 0 rg BT 310.11 77.30 Td (illis agreed to the U.K. plan ) Tj ET Q q 0 0 0 rg BT 400.61 77.30 Td (T) Tj ET Q q 0 0 0 rg BT 405.22 77.30 Td (rustee) Tj ET Q q 0 0 0 rg BT 426.54 77.30 Td (s de-risking strategy which will lead to a ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 65.10 67.70 Td (strategic tar) Tj ET Q q 0 0 0 rg BT 102.49 67.70 Td (get asset allocation with a greater weighting to fixed income assets. Consequently) Tj ET Q q 0 0 0 rg BT 365.68 67.70 Td (, with ef) Tj ET Q q 0 0 0 rg BT 391.97 67.70 Td (fect from March 6, 2015, the expected return on ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 65.10 58.10 Td (assets assumption was reduced by ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 175.97 58.10 Td (50) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 183.97 58.10 Td ( basis points from ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 243.08 58.10 Td (7.00%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 263.74 58.10 Td ( to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 273.96 58.10 Td (6.50%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 294.63 58.10 Td (.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 296.63 58.10 Td ( ) Tj ET Q endstream endobj 233 0 obj <> endobj 234 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.65 31.60 Td (1) Tj ET Q q 0 0 0 rg BT 303.28 31.60 Td (16) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (The following table presents the assumptions used in the valuation to determine the projected benefit obligation for the fiscal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (years ended December 31, 2016 and 2015:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 220.78 730.10 Td ( ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 51.00 693.60 168.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 219.00 693.60 39.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 258.00 693.60 5.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 263.00 693.60 39.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.00 693.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.00 693.60 39.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 345.00 693.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.00 693.60 39.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.00 693.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 392.00 693.60 39.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.00 693.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 693.60 39.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 474.00 693.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.00 693.60 39.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.00 693.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 521.00 693.60 39.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 219 707.6 m 258 707.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 258 707.6 m 263 707.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 263 707.6 m 302 707.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 302 707.6 m 306 707.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 306 707.6 m 345 707.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 345 707.6 m 349 707.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 349 707.6 m 388 707.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392 707.6 m 431 707.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431 707.6 m 435 707.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435 707.6 m 474 707.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 474 707.6 m 478 707.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478 707.6 m 517 707.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517 707.6 m 521 707.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 521 707.6 m 560 707.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 219 707.6 m 258 707.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 219 693.6 m 258 693.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 258 707.6 m 263 707.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 263 707.6 m 302 707.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 263 693.6 m 302 693.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 302 707.6 m 306 707.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 306 707.6 m 345 707.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 306 693.6 m 345 693.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 345 707.6 m 349 707.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 349 707.6 m 388 707.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 349 693.6 m 388 693.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392 707.6 m 431 707.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392 693.6 m 431 693.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431 707.6 m 435 707.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435 707.6 m 474 707.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435 693.6 m 474 693.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 474 707.6 m 478 707.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478 707.6 m 517 707.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478 693.6 m 517 693.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517 707.6 m 521 707.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 521 707.6 m 560 707.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 521 693.6 m 560 693.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 263 693.6 m 302 693.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 306 693.6 m 345 693.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 349 693.6 m 388 693.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392 693.6 m 431 693.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435 693.6 m 474 693.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478 693.6 m 517 693.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 521 693.6 m 560 693.6 l s BT /F2 9.00 Tf ET q 0 0 0 rg BT 266.70 711.00 Td (December 31, 2016) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 439.20 711.00 Td (December 31, 2015) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 229.95 698.05 Td (U.S.) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 273.00 698.05 Td (U.K.) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 313.55 698.05 Td (Other) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 357.70 698.05 Td (PRW) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 402.95 698.05 Td (U.S.) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 445.00 698.05 Td (U.K.) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 485.55 698.05 Td (Other) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 529.70 698.05 Td (PRW) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.50 684.86 Td (Discount rate) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 238.75 684.06 Td (4.0) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 250.00 684.06 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 282.75 684.06 Td (2.6) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 294.00 684.06 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 325.75 684.06 Td (2.7) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 337.00 684.06 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 368.75 684.06 Td (4.0) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 380.00 684.06 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 411.75 684.06 Td (4.2) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 423.00 684.06 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 454.75 684.06 Td (3.8) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 466.00 684.06 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 497.75 684.06 Td (2.4) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 509.00 684.06 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 543.00 684.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 552.00 684.06 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.50 670.86 Td (Rate of increase in compensation levels) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 238.75 670.06 Td (4.3) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 250.00 670.06 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 282.75 670.06 Td (3.2) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 294.00 670.06 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 325.75 670.06 Td (2.3) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 337.00 670.06 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 369.45 670.06 Td (N/A) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 412.45 670.06 Td (N/A) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 454.75 670.06 Td (3.3) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 466.00 670.06 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 497.75 670.06 Td (2.2) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 509.00 670.06 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 543.00 670.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 552.00 670.06 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 645.10 Td (A) Tj ET Q q 0 0 0 rg BT 56.67 645.10 Td ( one percentage point change in the assumed healthcare cost trend rates would have an immaterial ef) Tj ET Q q 0 0 0 rg BT 458.54 645.10 Td (fect on the post-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 633.10 Td (retirement benefit cost and obligation as of December 31, 2016.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.20 633.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 612.10 Td (The expected return on plan assets was determined on the basis of the weighted-average of the expected future returns of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 600.10 Td (various asset classes, using the tar) Tj ET Q q 0 0 0 rg BT 185.90 600.10 Td (get allocations shown below) Tj ET Q q 0 0 0 rg BT 298.84 600.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.66 600.10 Td (The Company) Tj ET Q q 0 0 0 rg BT 363.37 600.10 Td (s pension plan asset tar) Tj ET Q q 0 0 0 rg BT 455.39 600.10 Td (get allocations as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 588.10 Td (December 31, 2016 were as follows:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.62 588.10 Td ( ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 519.60 89.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 139.50 519.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 143.50 519.60 43.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 186.50 519.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 190.50 519.60 43.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 233.50 519.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 237.50 519.60 43.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 280.50 519.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 284.50 519.60 43.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 327.50 519.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 331.50 519.60 43.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.50 519.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.50 519.60 43.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 421.50 519.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.50 519.60 43.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.50 519.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.50 519.60 43.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.50 519.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 519.50 519.60 43.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 489.60 89.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 139.50 489.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 143.50 489.60 43.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 186.50 489.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 190.50 489.60 43.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 233.50 489.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 237.50 489.60 43.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 280.50 489.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 284.50 489.60 43.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 327.50 489.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 331.50 489.60 43.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.50 489.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.50 489.60 43.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 421.50 489.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.50 489.60 43.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.50 489.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.50 489.60 43.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.50 489.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 519.50 489.60 43.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 143.5 555.6 m 186.5 555.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 186.5 555.6 m 190.5 555.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 190.5 555.6 m 233.5 555.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 237.5 555.6 m 280.5 555.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 280.5 555.6 m 284.5 555.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 284.5 555.6 m 327.5 555.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 327.5 555.6 m 331.5 555.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 331.5 555.6 m 374.5 555.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378.5 555.6 m 421.5 555.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425.5 555.6 m 468.5 555.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 555.6 m 515.5 555.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515.5 555.6 m 519.5 555.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 555.6 m 562.5 555.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 534.6 m 139.5 534.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 143.5 534.6 m 186.5 534.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 190.5 534.6 m 233.5 534.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 237.5 534.6 m 280.5 534.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 284.5 534.6 m 327.5 534.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 331.5 534.6 m 374.5 534.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378.5 555.6 m 421.5 555.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378.5 534.6 m 421.5 534.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425.5 555.6 m 468.5 555.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425.5 534.6 m 468.5 534.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 555.6 m 515.5 555.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 534.6 m 515.5 534.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515.5 555.6 m 519.5 555.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 555.6 m 562.5 555.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 534.6 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 143.5 474.6 m 186.5 474.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 190.5 474.6 m 233.5 474.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 237.5 474.6 m 280.5 474.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 284.5 474.6 m 327.5 474.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 331.5 474.6 m 374.5 474.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378.5 474.6 m 421.5 474.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425.5 474.6 m 468.5 474.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 474.6 m 515.5 474.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 474.6 m 562.5 474.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 143.5 460.6 m 186.5 460.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 143.5 458.6 m 186.5 458.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 190.5 460.6 m 233.5 460.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 190.5 458.6 m 233.5 458.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 237.5 460.6 m 280.5 460.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 237.5 458.6 m 280.5 458.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 284.5 460.6 m 327.5 460.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 284.5 458.6 m 327.5 458.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 331.5 460.6 m 374.5 460.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 331.5 458.6 m 374.5 458.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378.5 460.6 m 421.5 460.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378.5 458.6 m 421.5 458.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425.5 460.6 m 468.5 460.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425.5 458.6 m 468.5 458.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 460.6 m 515.5 460.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 458.6 m 515.5 458.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 460.6 m 562.5 460.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 458.6 m 562.5 458.6 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 94.50 559.85 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 180.85 559.83 Td (U.S.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 297.50 559.83 Td (U.K.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 386.15 559.83 Td (Canada) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 430.25 559.83 Td (Germany) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 504.40 559.83 Td (Ireland) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 53.00 538.83 Td (Asset Category) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 154.55 538.83 Td (Willis) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 199.20 546.83 Td (Towers) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 198.60 538.83 Td (Watson) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 248.55 538.83 Td (Willis) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 293.20 546.83 Td (Towers) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 292.60 538.83 Td (Watson) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 341.90 538.83 Td (Miller) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 387.20 546.83 Td (Towers) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 386.60 538.83 Td (Watson) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 434.20 546.83 Td (Towers) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 433.60 538.83 Td (Watson) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 483.55 538.83 Td (Willis) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 528.20 546.83 Td (Towers) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 527.60 538.83 Td (Watson) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 524.27 Td (Equity securities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 167.65 524.27 Td (50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 177.65 524.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.65 524.27 Td (23) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.65 524.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.65 524.27 Td (32) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 271.65 524.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.65 524.27 Td (13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.65 524.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.65 524.27 Td (27) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.65 524.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.65 524.27 Td (60) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.65 524.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.65 524.27 Td (36) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.65 524.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 524.27 Td (38) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.65 524.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 524.27 Td (73) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 524.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 509.27 Td (Debt securities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 167.65 509.27 Td (50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 177.65 509.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.65 509.27 Td (43) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.65 509.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.65 509.27 Td (50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 271.65 509.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.65 509.27 Td (60) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.65 509.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.65 509.27 Td (57) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.65 509.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.65 509.27 Td (40) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.65 509.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.65 509.27 Td (60) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.65 509.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 509.27 Td (28) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.65 509.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 509.27 Td (27) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 509.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 494.27 Td (Real estate) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 167.65 494.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 177.65 494.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 219.65 494.27 Td (6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.65 494.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.65 494.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 271.65 494.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.65 494.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.65 494.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.65 494.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.65 494.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.65 494.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.65 494.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.65 494.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.65 494.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.65 494.27 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.65 494.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 494.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 494.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 479.27 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 167.65 479.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 177.65 479.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.65 479.27 Td (28) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.65 479.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.65 479.27 Td (18) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 271.65 479.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.65 479.27 Td (27) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.65 479.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.65 479.27 Td (16) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.65 479.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.65 479.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.65 479.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.65 479.27 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.65 479.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 479.27 Td (31) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.65 479.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 479.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 479.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 464.27 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.65 464.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 177.65 464.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 209.65 464.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.65 464.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.65 464.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 271.65 464.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.65 464.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.65 464.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.65 464.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.65 464.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.65 464.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.65 464.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.65 464.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.65 464.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.65 464.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.65 464.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.65 464.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 464.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 439.10 Td (The Legacy ) Tj ET Q q 0 0 0 rg BT 99.79 439.10 Td (W) Tj ET Q q 0 0 0 rg BT 108.83 439.10 Td (illis plan in Germany and the Legacy ) Tj ET Q q 0 0 0 rg BT 259.43 439.10 Td (T) Tj ET Q q 0 0 0 rg BT 264.84 439.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 291.04 439.10 Td (W) Tj ET Q q 0 0 0 rg BT 299.68 439.10 Td (atson plan in the Netherlands are invested in insurance contracts. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 427.10 Td (Consequently) Tj ET Q q 0 0 0 rg BT 104.35 427.10 Td (, the asset allocations of the plans are managed by the insurer) Tj ET Q q 0 0 0 rg BT 348.71 427.10 Td (. ) Tj ET Q q 0 0 0 rg BT 353.53 427.10 Td (The Legacy Gras Savoye plan in France is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 415.10 Td (unfunded.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.27 415.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.10 Td (Our investment strategy is designed to generate returns that will reduce the interest rate risk inherent in each of the plan) Tj ET Q q 0 0 0 rg BT 530.95 394.10 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.10 Td (benefit obligations and enable the plans to meet their future obligations. ) Tj ET Q q 0 0 0 rg BT 339.74 382.10 Td (The precise amount for which these obligations will be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.10 Td (settled depends on future events, including the life expectancy of the plan participants and salary inflation. ) Tj ET Q q 0 0 0 rg BT 478.01 370.10 Td (The obligations are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.10 Td (estimated using actuarial assumptions, based on the current economic environment.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.07 358.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 337.10 Td (Each pension plan seeks to achieve total returns suf) Tj ET Q q 0 0 0 rg BT 255.86 337.10 Td (ficient to meet expected future obligations when considered in conjunction ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 325.10 Td (with expected future contributions and prudent levels of investment risk and diversification. Each plan) Tj ET Q q 0 0 0 rg BT 462.66 325.10 Td (s tar) Tj ET Q q 0 0 0 rg BT 479.42 325.10 Td (geted asset ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 313.10 Td (allocation is generally determined through a plan-specific ) Tj ET Q q 0 0 0 rg BT 282.42 313.10 Td (Asset-Liability Modeling study) Tj ET Q q 0 0 0 rg BT 407.31 313.10 Td (. ) Tj ET Q q 0 0 0 rg BT 412.13 313.10 Td (These comprehensive studies ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 301.10 Td (provide an evaluation of the projected status of asset and benefit obligation measures for each plan under a range of both ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 289.10 Td (positive and negative environments. ) Tj ET Q q 0 0 0 rg BT 196.73 289.10 Td (The studies include a number of dif) Tj ET Q q 0 0 0 rg BT 338.73 289.10 Td (ferent asset mixes, spanning a range of diversification ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 277.10 Td (and potential equity exposures.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 174.41 277.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 256.10 Td (In evaluating the strategic asset allocation choices, an emphasis is placed on the long-term characteristics of each individual ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 244.10 Td (asset class, such as expected return, volatility of returns and correlations with other asset classes within the portfolios. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 232.10 Td (Consideration is also given to the proper long-term level of risk for each plan, the impact of the volatility and magnitude of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 220.10 Td (plan contributions and costs, and the impact that certain actuarial techniques may have on the plan) Tj ET Q q 0 0 0 rg BT 445.98 220.10 Td (s recognition of investment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 208.10 Td (experience.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.80 208.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 187.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 187.10 Td (e monitor investment performance and portfolio characteristics on a quarterly basis to ensure that managers are meeting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 175.10 Td (expectations with respect to their investment approach. ) Tj ET Q q 0 0 0 rg BT 272.52 175.10 Td (There are also various restrictions and controls placed on managers, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 163.10 Td (including prohibition from investing in our stock.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.04 163.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 142.10 Td (Fair V) Tj ET Q q 0 0 0 rg BT 75.28 142.10 Td (alue of Plan ) Tj ET Q q 0 0 0 rg BT 126.48 142.10 Td (Assets) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 151.48 142.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 121.10 Td (The fair value hierarchy has three levels based on the reliability of the inputs used to determine fair value:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.73 121.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 100.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 100.10 Td (Level1: refers to fair values determined based on quoted market prices in active markets for identical assets;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.11 100.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 79.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 79.10 Td (Level2: refers to fair values estimated using observable market based inputs or unobservable inputs that are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 67.10 Td (corroborated by market data;and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 218.72 67.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 46.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 46.10 Td (Level3: includes fair values estimated using unobservable inputs that are not corroborated by market data.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.53 46.10 Td ( ) Tj ET Q endstream endobj 235 0 obj <> endobj 236 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.65 31.60 Td (1) Tj ET Q q 0 0 0 rg BT 303.28 31.60 Td (17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (The fair values of our U.S. plan assets by asset category at December 31, 2016 and 2015 are as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 693.60 116.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 166.50 693.60 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 212.50 693.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 216.50 693.60 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 262.50 693.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 266.50 693.60 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 312.50 693.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.50 693.60 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.50 693.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.50 693.60 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 693.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.50 693.60 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.50 693.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.50 693.60 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 693.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.50 693.60 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 668.60 116.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 166.50 668.60 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 212.50 668.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 216.50 668.60 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 262.50 668.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 266.50 668.60 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 312.50 668.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.50 668.60 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.50 668.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.50 668.60 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 668.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.50 668.60 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.50 668.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.50 668.60 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 668.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.50 668.60 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 642.60 116.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 166.50 642.60 46.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 212.50 642.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 216.50 642.60 46.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 262.50 642.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 266.50 642.60 46.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 312.50 642.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.50 642.60 46.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.50 642.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.50 642.60 46.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 642.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.50 642.60 46.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.50 642.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.50 642.60 46.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 642.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.50 642.60 46.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 615.60 116.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 166.50 615.60 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 212.50 615.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 216.50 615.60 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 262.50 615.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 266.50 615.60 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 312.50 615.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.50 615.60 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.50 615.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.50 615.60 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 615.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.50 615.60 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.50 615.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.50 615.60 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 615.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.50 615.60 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 590.60 116.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 166.50 590.60 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 212.50 590.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 216.50 590.60 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 262.50 590.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 266.50 590.60 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 312.50 590.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.50 590.60 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.50 590.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.50 590.60 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 590.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.50 590.60 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.50 590.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.50 590.60 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 590.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.50 590.60 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 565.60 116.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 166.50 565.60 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 212.50 565.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 216.50 565.60 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 262.50 565.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 266.50 565.60 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 312.50 565.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.50 565.60 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.50 565.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.50 565.60 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 565.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.50 565.60 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.50 565.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.50 565.60 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 565.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.50 565.60 46.00 -12.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 166.5 718.6 m 212.5 718.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 212.5 718.6 m 216.5 718.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 216.5 718.6 m 262.5 718.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 262.5 718.6 m 266.5 718.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266.5 718.6 m 312.5 718.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 312.5 718.6 m 316.5 718.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316.5 718.6 m 362.5 718.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366.5 718.6 m 412.5 718.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412.5 718.6 m 416.5 718.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416.5 718.6 m 462.5 718.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 462.5 718.6 m 466.5 718.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466.5 718.6 m 512.5 718.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 718.6 m 516.5 718.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 718.6 m 562.5 718.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 166.5 718.6 m 212.5 718.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 166.5 705.6 m 212.5 705.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 212.5 718.6 m 216.5 718.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 216.5 718.6 m 262.5 718.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 216.5 705.6 m 262.5 705.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 262.5 718.6 m 266.5 718.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266.5 718.6 m 312.5 718.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266.5 705.6 m 312.5 705.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 312.5 718.6 m 316.5 718.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316.5 718.6 m 362.5 718.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316.5 705.6 m 362.5 705.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366.5 718.6 m 412.5 718.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366.5 705.6 m 412.5 705.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412.5 718.6 m 416.5 718.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416.5 718.6 m 462.5 718.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416.5 705.6 m 462.5 705.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 462.5 718.6 m 466.5 718.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466.5 718.6 m 512.5 718.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466.5 705.6 m 512.5 705.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 718.6 m 516.5 718.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 718.6 m 562.5 718.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 705.6 m 562.5 705.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366.5 705.6 m 412.5 705.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416.5 705.6 m 462.5 705.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 705.6 m 562.5 705.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 166.5 565.6 m 212.5 565.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 166.5 554.6 m 212.5 554.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 166.5 552.6 m 212.5 552.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 216.5 565.6 m 262.5 565.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 216.5 554.6 m 262.5 554.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 216.5 552.6 m 262.5 552.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266.5 565.6 m 312.5 565.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266.5 554.6 m 312.5 554.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266.5 552.6 m 312.5 552.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316.5 565.6 m 362.5 565.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316.5 554.6 m 362.5 554.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316.5 552.6 m 362.5 552.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366.5 565.6 m 412.5 565.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366.5 554.6 m 412.5 554.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366.5 552.6 m 412.5 552.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416.5 565.6 m 462.5 565.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416.5 554.6 m 462.5 554.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416.5 552.6 m 462.5 552.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466.5 565.6 m 512.5 565.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466.5 554.6 m 512.5 554.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466.5 552.6 m 512.5 552.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 565.6 m 562.5 565.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 554.6 m 562.5 554.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 552.6 m 562.5 552.6 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 231.75 722.83 Td (December 31, 2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 431.75 722.83 Td (December 31, 2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 176.65 709.83 Td (Level 1) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 226.65 709.83 Td (Level 2) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 276.65 709.83 Td (Level 3) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 330.25 709.83 Td (Total) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 376.65 709.83 Td (Level 1) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 426.65 709.83 Td (Level 2) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 476.65 709.83 Td (Level 3) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 530.25 709.83 Td (Total) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 53.00 697.00 Td (Asset category:) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 684.86 Td (Cash) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 169.00 684.86 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 204.50 684.86 Td (3) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 219.00 684.86 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 250.00 684.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 269.00 684.86 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 300.00 684.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 319.00 684.86 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 354.50 684.86 Td (3) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 369.00 684.86 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.00 684.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 419.00 684.86 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 450.00 684.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 469.00 684.86 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 500.00 684.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 519.00 684.86 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 550.00 684.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 672.86 Td (Short-term securities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 200.00 672.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 250.00 672.86 Td (33) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 300.00 672.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 350.00 672.86 Td (33) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.00 672.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 450.00 672.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 500.00 672.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 550.00 672.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 659.86 Td (Equity securities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 195.50 659.86 Td (253) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 254.50 659.86 Td (8) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 300.00 659.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 345.50 659.86 Td (260) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.00 659.86 Td (86) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 454.50 659.86 Td (7) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 550.00 659.86 Td (93) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 647.06 Td (Government bonds) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 200.00 647.06 Td (10) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 250.00 647.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 300.00 647.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 350.00 647.06 Td (10) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.00 647.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 450.00 647.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 500.00 647.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 550.00 647.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 633.06 Td (Corporate bonds) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 200.00 633.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 245.50 633.06 Td (169) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 300.00 633.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 345.50 633.06 Td (170) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.00 633.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 450.00 633.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 500.00 633.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 550.00 633.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 619.86 Td (Other fixed income) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 200.00 619.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 250.00 619.86 Td (19) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 300.00 619.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 350.00 619.86 Td (19) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.00 619.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 450.00 619.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 500.00 619.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 550.00 619.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 606.86 Td (Pooled / commingled funds) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 200.00 606.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 250.00 606.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 300.00 606.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 338.75 606.86 Td (1,665) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.00 606.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 450.00 606.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 500.00 606.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 545.50 606.86 Td (476) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 593.86 Td (Mutual funds) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 195.50 593.86 Td (183) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 250.00 593.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 300.00 593.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 345.50 593.86 Td (183) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 395.50 593.86 Td (180) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 450.00 593.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 500.00 593.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 545.50 593.86 Td (180) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 581.86 Td (Private equity) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 200.00 581.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 250.00 581.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 300.00 581.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 345.50 581.86 Td (234) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.00 581.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 450.00 581.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 500.00 581.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 550.00 581.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 569.86 Td (Hedge funds) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 200.00 569.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 250.00 569.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 300.00 569.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 345.50 569.86 Td (692) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.00 569.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 450.00 569.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 500.00 569.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 550.00 569.86 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 53.00 557.00 Td (Total assets) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 169.00 556.86 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 195.50 556.86 Td (449) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 219.00 556.86 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 245.50 556.86 Td (229) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 269.00 556.86 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 300.00 556.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 319.00 556.86 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 338.75 556.86 Td (3,269) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 369.00 556.86 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 395.50 556.86 Td (266) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 419.00 556.86 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 454.50 556.86 Td (7) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 469.00 556.86 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 500.00 556.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 519.00 556.86 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 545.50 556.86 Td (749) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 533.10 Td (The fair values of our U.K. plan assets by asset category at December 31, 2016 and 2015 are as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 484.60 116.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 166.50 484.60 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 212.50 484.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 216.50 484.60 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 262.50 484.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 266.50 484.60 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 312.50 484.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.50 484.60 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.50 484.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.50 484.60 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 484.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.50 484.60 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.50 484.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.50 484.60 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 484.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.50 484.60 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 460.60 116.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 166.50 460.60 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 212.50 460.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 216.50 460.60 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 262.50 460.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 266.50 460.60 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 312.50 460.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.50 460.60 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.50 460.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.50 460.60 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 460.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.50 460.60 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.50 460.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.50 460.60 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 460.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.50 460.60 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 433.60 116.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 166.50 433.60 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 212.50 433.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 216.50 433.60 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 262.50 433.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 266.50 433.60 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 312.50 433.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.50 433.60 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.50 433.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.50 433.60 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 433.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.50 433.60 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.50 433.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.50 433.60 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 433.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.50 433.60 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 407.60 116.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 166.50 407.60 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 212.50 407.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 216.50 407.60 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 262.50 407.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 266.50 407.60 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 312.50 407.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.50 407.60 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.50 407.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.50 407.60 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 407.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.50 407.60 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.50 407.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.50 407.60 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 407.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.50 407.60 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 383.60 116.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 166.50 383.60 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 212.50 383.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 216.50 383.60 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 262.50 383.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 266.50 383.60 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 312.50 383.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.50 383.60 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.50 383.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.50 383.60 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 383.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.50 383.60 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.50 383.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.50 383.60 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 383.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.50 383.60 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 358.60 116.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 166.50 358.60 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 212.50 358.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 216.50 358.60 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 262.50 358.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 266.50 358.60 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 312.50 358.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.50 358.60 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.50 358.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.50 358.60 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 358.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.50 358.60 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.50 358.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.50 358.60 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 358.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.50 358.60 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 333.60 116.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 166.50 333.60 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 212.50 333.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 216.50 333.60 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 262.50 333.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 266.50 333.60 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 312.50 333.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.50 333.60 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.50 333.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.50 333.60 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 333.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.50 333.60 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.50 333.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.50 333.60 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 333.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.50 333.60 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 309.60 116.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 166.50 309.60 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 212.50 309.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 216.50 309.60 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 262.50 309.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 266.50 309.60 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 312.50 309.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.50 309.60 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.50 309.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.50 309.60 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 309.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.50 309.60 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.50 309.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.50 309.60 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 309.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.50 309.60 46.00 -12.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 166.5 509.6 m 212.5 509.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 212.5 509.6 m 216.5 509.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 216.5 509.6 m 262.5 509.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 262.5 509.6 m 266.5 509.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266.5 509.6 m 312.5 509.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 312.5 509.6 m 316.5 509.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316.5 509.6 m 362.5 509.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366.5 509.6 m 412.5 509.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412.5 509.6 m 416.5 509.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416.5 509.6 m 462.5 509.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 462.5 509.6 m 466.5 509.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466.5 509.6 m 512.5 509.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 509.6 m 516.5 509.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 509.6 m 562.5 509.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 166.5 509.6 m 212.5 509.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 166.5 496.6 m 212.5 496.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 212.5 509.6 m 216.5 509.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 216.5 509.6 m 262.5 509.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 216.5 496.6 m 262.5 496.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 262.5 509.6 m 266.5 509.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266.5 509.6 m 312.5 509.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266.5 496.6 m 312.5 496.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 312.5 509.6 m 316.5 509.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316.5 509.6 m 362.5 509.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316.5 496.6 m 362.5 496.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366.5 509.6 m 412.5 509.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366.5 496.6 m 412.5 496.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412.5 509.6 m 416.5 509.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416.5 509.6 m 462.5 509.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416.5 496.6 m 462.5 496.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 462.5 509.6 m 466.5 509.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466.5 509.6 m 512.5 509.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466.5 496.6 m 512.5 496.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 509.6 m 516.5 509.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 509.6 m 562.5 509.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 496.6 m 562.5 496.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366.5 496.6 m 412.5 496.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416.5 496.6 m 462.5 496.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 496.6 m 562.5 496.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 166.5 345.6 m 212.5 345.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 166.5 334.6 m 212.5 334.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 166.5 332.6 m 212.5 332.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 216.5 345.6 m 262.5 345.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 216.5 334.6 m 262.5 334.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 216.5 332.6 m 262.5 332.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266.5 345.6 m 312.5 345.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266.5 334.6 m 312.5 334.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266.5 332.6 m 312.5 332.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316.5 345.6 m 362.5 345.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316.5 334.6 m 362.5 334.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316.5 332.6 m 362.5 332.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366.5 345.6 m 412.5 345.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366.5 334.6 m 412.5 334.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366.5 332.6 m 412.5 332.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416.5 345.6 m 462.5 345.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416.5 334.6 m 462.5 334.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416.5 332.6 m 462.5 332.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466.5 345.6 m 512.5 345.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466.5 334.6 m 512.5 334.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466.5 332.6 m 512.5 332.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 345.6 m 562.5 345.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 334.6 m 562.5 334.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 332.6 m 562.5 332.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 166.5 297.6 m 212.5 297.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 216.5 297.6 m 262.5 297.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266.5 297.6 m 312.5 297.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316.5 297.6 m 362.5 297.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366.5 297.6 m 412.5 297.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416.5 297.6 m 462.5 297.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466.5 297.6 m 512.5 297.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 297.6 m 562.5 297.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 166.5 286.6 m 212.5 286.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 166.5 284.6 m 212.5 284.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 216.5 286.6 m 262.5 286.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 216.5 284.6 m 262.5 284.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266.5 286.6 m 312.5 286.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266.5 284.6 m 312.5 284.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316.5 286.6 m 362.5 286.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316.5 284.6 m 362.5 284.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366.5 286.6 m 412.5 286.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366.5 284.6 m 412.5 284.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416.5 286.6 m 462.5 286.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416.5 284.6 m 462.5 284.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466.5 286.6 m 512.5 286.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466.5 284.6 m 512.5 284.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 286.6 m 562.5 286.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 284.6 m 562.5 284.6 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 231.75 513.83 Td (December 31, 2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 431.75 513.83 Td (December 31, 2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 176.65 500.83 Td (Level 1) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 226.65 500.83 Td (Level 2) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 276.65 500.83 Td (Level 3) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 330.25 500.83 Td (Total) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 376.65 500.83 Td (Level 1) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 426.65 500.83 Td (Level 2) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 476.65 500.83 Td (Level 3) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 530.25 500.83 Td (Total) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 53.00 488.00 Td (Asset category:) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 475.86 Td (Cash) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 169.00 475.86 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 200.00 475.86 Td (49) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 219.00 475.86 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 250.00 475.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 269.00 475.86 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 300.00 475.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 319.00 475.86 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 350.00 475.86 Td (49) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 369.00 475.86 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 395.50 475.86 Td (149) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 419.00 475.86 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 454.50 475.86 Td (2) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 469.00 475.86 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 500.00 475.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 519.00 475.86 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 545.50 475.86 Td (151) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 463.86 Td (Equity securities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 195.50 463.86 Td (374) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 254.50 463.86 Td (8) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 300.00 463.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 345.50 463.86 Td (382) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 395.50 463.86 Td (737) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 450.00 463.86 Td (17) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 500.00 463.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 545.50 463.86 Td (754) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 451.86 Td (Government bonds) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 188.75 451.86 Td (1,184) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 250.00 451.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 300.00 451.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 338.75 451.86 Td (1,184) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 395.50 451.86 Td (836) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 454.50 451.86 Td (1) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 500.00 451.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 545.50 451.86 Td (837) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 438.06 Td (Corporate bonds) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 200.00 438.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 245.50 438.06 Td (118) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 300.00 438.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 345.50 438.06 Td (118) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.00 438.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 445.50 438.06 Td (138) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 500.00 438.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 545.50 438.06 Td (138) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 424.86 Td (Other fixed income) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 200.00 424.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 245.50 424.86 Td (216) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 300.00 424.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 345.50 424.86 Td (216) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.00 424.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 450.00 424.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 500.00 424.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 550.00 424.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 411.86 Td (Pooled / commingled funds) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 200.00 411.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 250.00 411.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 300.00 411.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 338.75 411.86 Td (1,677) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.00 411.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 450.00 411.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 500.00 411.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 545.50 411.86 Td (820) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 398.86 Td (Mutual funds) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 200.00 398.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 250.00 398.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 300.00 398.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 350.00 398.86 Td (11) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.00 398.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 450.00 398.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 500.00 398.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 550.00 398.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 386.86 Td (Private equity) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 200.00 386.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 250.00 386.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 300.00 386.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 350.00 386.86 Td (40) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.00 386.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 450.00 386.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 500.00 386.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 550.00 386.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 374.86 Td (Derivatives) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 200.00 374.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 250.00 374.86 Td (73) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 300.00 374.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 350.00 374.86 Td (73) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.00 374.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 445.50 374.86 Td (195) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 500.00 374.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 545.50 374.86 Td (195) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 362.86 Td (Real estate) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 200.00 362.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 250.00 362.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 300.00 362.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 345.50 362.86 Td (197) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.00 362.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 450.00 362.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 500.00 362.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 545.50 362.86 Td (146) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 349.86 Td (Hedge funds) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 200.00 349.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 250.00 349.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 300.00 349.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 345.50 349.86 Td (426) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.00 349.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 450.00 349.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 500.00 349.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 545.50 349.86 Td (457) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 53.00 337.00 Td (Total assets) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 169.00 336.86 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 188.75 336.86 Td (1,607) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 219.00 336.86 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 245.50 336.86 Td (415) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 269.00 336.86 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 300.00 336.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 319.00 336.86 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 338.75 336.86 Td (4,373) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 369.00 336.86 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 388.75 336.86 Td (1,722) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 419.00 336.86 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 445.50 336.86 Td (353) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 469.00 336.86 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 500.00 336.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 519.00 336.86 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 538.75 336.86 Td (3,498) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 53.00 313.00 Td (Liability category:) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 300.86 Td (Derivatives) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 200.00 300.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 250.00 300.86 Td (14) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 300.00 300.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 350.00 300.86 Td (14) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.00 300.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 450.00 300.86 Td (20) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 500.00 300.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 550.00 300.86 Td (20) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 53.00 289.00 Td (Net Assets) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 169.00 288.86 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 188.75 288.86 Td (1,607) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 219.00 288.86 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 245.50 288.86 Td (401) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 269.00 288.86 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 300.00 288.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 319.00 288.86 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 338.75 288.86 Td (4,359) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 369.00 288.86 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 388.75 288.86 Td (1,722) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 419.00 288.86 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 445.50 288.86 Td (333) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 469.00 288.86 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 500.00 288.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 519.00 288.86 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 538.75 288.86 Td (3,478) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 265.10 Td (The fair values of our Other plan assets by asset category at December 31, 2016 and 2015 are as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 216.60 116.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 166.50 216.60 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 212.50 216.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 216.50 216.60 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 262.50 216.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 266.50 216.60 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 312.50 216.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.50 216.60 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.50 216.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.50 216.60 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 216.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.50 216.60 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.50 216.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.50 216.60 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 216.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.50 216.60 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 192.60 116.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 166.50 192.60 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 212.50 192.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 216.50 192.60 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 262.50 192.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 266.50 192.60 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 312.50 192.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.50 192.60 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.50 192.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.50 192.60 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 192.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.50 192.60 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.50 192.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.50 192.60 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 192.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.50 192.60 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 165.60 116.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 166.50 165.60 46.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 212.50 165.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 216.50 165.60 46.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 262.50 165.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 266.50 165.60 46.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 312.50 165.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.50 165.60 46.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.50 165.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.50 165.60 46.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 165.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.50 165.60 46.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.50 165.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.50 165.60 46.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 165.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.50 165.60 46.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 139.60 116.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 166.50 139.60 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 212.50 139.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 216.50 139.60 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 262.50 139.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 266.50 139.60 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 312.50 139.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.50 139.60 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.50 139.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.50 139.60 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 139.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.50 139.60 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.50 139.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.50 139.60 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 139.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.50 139.60 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 113.60 116.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 166.50 113.60 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 212.50 113.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 216.50 113.60 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 262.50 113.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 266.50 113.60 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 312.50 113.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.50 113.60 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.50 113.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.50 113.60 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 113.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.50 113.60 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.50 113.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.50 113.60 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 113.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.50 113.60 46.00 -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 166.5 241.60000000000002 m 212.5 241.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 212.5 241.60000000000002 m 216.5 241.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 216.5 241.60000000000002 m 262.5 241.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 262.5 241.60000000000002 m 266.5 241.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266.5 241.60000000000002 m 312.5 241.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 312.5 241.60000000000002 m 316.5 241.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316.5 241.60000000000002 m 362.5 241.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366.5 241.60000000000002 m 412.5 241.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412.5 241.60000000000002 m 416.5 241.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416.5 241.60000000000002 m 462.5 241.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 462.5 241.60000000000002 m 466.5 241.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466.5 241.60000000000002 m 512.5 241.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 241.60000000000002 m 516.5 241.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 241.60000000000002 m 562.5 241.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 166.5 241.60000000000002 m 212.5 241.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 166.5 228.60000000000002 m 212.5 228.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 212.5 241.60000000000002 m 216.5 241.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 216.5 241.60000000000002 m 262.5 241.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 216.5 228.60000000000002 m 262.5 228.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 262.5 241.60000000000002 m 266.5 241.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266.5 241.60000000000002 m 312.5 241.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266.5 228.60000000000002 m 312.5 228.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 312.5 241.60000000000002 m 316.5 241.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316.5 241.60000000000002 m 362.5 241.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316.5 228.60000000000002 m 362.5 228.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366.5 241.60000000000002 m 412.5 241.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366.5 228.60000000000002 m 412.5 228.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412.5 241.60000000000002 m 416.5 241.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416.5 241.60000000000002 m 462.5 241.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416.5 228.60000000000002 m 462.5 228.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 462.5 241.60000000000002 m 466.5 241.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466.5 241.60000000000002 m 512.5 241.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466.5 228.60000000000002 m 512.5 228.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 241.60000000000002 m 516.5 241.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 241.60000000000002 m 562.5 241.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 228.60000000000002 m 562.5 228.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366.5 228.60000000000002 m 412.5 228.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416.5 228.60000000000002 m 462.5 228.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 228.60000000000002 m 562.5 228.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 166.5 100.60000000000002 m 212.5 100.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 166.5 89.60000000000002 m 212.5 89.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 166.5 87.60000000000002 m 212.5 87.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 216.5 100.60000000000002 m 262.5 100.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 216.5 89.60000000000002 m 262.5 89.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 216.5 87.60000000000002 m 262.5 87.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266.5 100.60000000000002 m 312.5 100.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266.5 89.60000000000002 m 312.5 89.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266.5 87.60000000000002 m 312.5 87.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316.5 100.60000000000002 m 362.5 100.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316.5 89.60000000000002 m 362.5 89.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316.5 87.60000000000002 m 362.5 87.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366.5 100.60000000000002 m 412.5 100.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366.5 89.60000000000002 m 412.5 89.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366.5 87.60000000000002 m 412.5 87.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416.5 100.60000000000002 m 462.5 100.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416.5 89.60000000000002 m 462.5 89.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416.5 87.60000000000002 m 462.5 87.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466.5 100.60000000000002 m 512.5 100.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466.5 89.60000000000002 m 512.5 89.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466.5 87.60000000000002 m 512.5 87.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 100.60000000000002 m 562.5 100.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 89.60000000000002 m 562.5 89.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 87.60000000000002 m 562.5 87.60000000000002 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 231.75 245.83 Td (December 31, 2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 431.75 245.83 Td (December 31, 2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 176.65 232.83 Td (Level 1) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 226.65 232.83 Td (Level 2) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 276.65 232.83 Td (Level 3) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 330.25 232.83 Td (Total) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 376.65 232.83 Td (Level 1) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 426.65 232.83 Td (Level 2) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 476.65 232.83 Td (Level 3) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 530.25 232.83 Td (Total) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 53.00 220.00 Td (Asset category:) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 207.86 Td (Cash) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 169.00 207.86 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 200.00 207.86 Td (17) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 219.00 207.86 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 250.00 207.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 269.00 207.86 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 300.00 207.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 319.00 207.86 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 350.00 207.86 Td (17) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 369.00 207.86 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.00 207.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 419.00 207.86 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 450.00 207.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 469.00 207.86 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 500.00 207.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 519.00 207.86 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 550.00 207.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 195.86 Td (Equity securities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 200.00 195.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 250.00 195.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 300.00 195.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 350.00 195.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 404.50 195.86 Td (1) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 450.00 195.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 500.00 195.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 554.50 195.86 Td (1) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 183.86 Td (Government bonds) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 200.00 183.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 250.00 183.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 300.00 183.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 350.00 183.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.00 183.86 Td (29) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 450.00 183.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 500.00 183.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 550.00 183.86 Td (29) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 170.06 Td (Corporate bonds) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 200.00 170.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 250.00 170.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 300.00 170.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 350.00 170.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 404.50 170.06 Td (4) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 450.00 170.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 500.00 170.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 554.50 170.06 Td (4) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 156.06 Td (Pooled / commingled funds) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 200.00 156.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 250.00 156.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 300.00 156.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 345.50 156.06 Td (214) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.00 156.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 450.00 156.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 500.00 156.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 550.00 156.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 142.86 Td (Mutual funds) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 200.00 142.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 250.00 142.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 300.00 142.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 345.50 142.86 Td (224) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.00 142.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 450.00 142.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 500.00 142.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 545.50 142.86 Td (102) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 130.86 Td (Derivatives) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 200.00 130.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 250.00 130.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 300.00 130.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 350.00 130.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.00 130.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 450.00 130.86 Td (19) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 500.00 130.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 550.00 130.86 Td (19) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 117.86 Td (Insurance contracts) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 200.00 117.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 250.00 117.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 300.00 117.86 Td (17) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 350.00 117.86 Td (17) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.00 117.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 450.00 117.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 504.50 117.86 Td (1) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 554.50 117.86 Td (1) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 104.86 Td (Real estate) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 200.00 104.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 250.00 104.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 300.00 104.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 350.00 104.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.00 104.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 450.00 104.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 500.00 104.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 554.50 104.86 Td (2) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 53.00 92.00 Td (Total assets) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 169.00 91.86 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 200.00 91.86 Td (17) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 219.00 91.86 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 250.00 91.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 269.00 91.86 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 300.00 91.86 Td (17) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 319.00 91.86 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 345.50 91.86 Td (472) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 369.00 91.86 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.00 91.86 Td (34) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 419.00 91.86 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 450.00 91.86 Td (19) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 469.00 91.86 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 504.50 91.86 Td (1) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 519.00 91.86 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 545.50 91.86 Td (158) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 68.10 Td (Our PR) Tj ET Q q 0 0 0 rg BT 79.73 68.10 Td (W) Tj ET Q q 0 0 0 rg BT 88.99 68.10 Td ( plan invests only in short-term investments and mutual funds and is not included within this fair value hierarchy ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 56.10 Td (table.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.93 56.10 Td ( ) Tj ET Q endstream endobj 237 0 obj <> endobj 238 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.65 31.60 Td (1) Tj ET Q q 0 0 0 rg BT 303.28 31.60 Td (18) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 742.10 Td (e evaluate the need to transfer between levels based upon the nature of the financial instrument and size of the transfer ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (relative to the total net assets of the plans. ) Tj ET Q q 0 0 0 rg BT 219.77 730.10 Td (There were no significant transfers between Levels 1, 2 or 3 in the fiscal years ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (December 31, 2016 and 2015.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 170.52 718.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 697.10 Td (In accordance with Subtopic 820-10, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 199.96 697.10 Td (Fair V) Tj ET Q q 0 0 0 rg BT 225.23 697.10 Td (alue Measur) Tj ET Q q 0 0 0 rg BT 275.13 697.10 Td (ement and Disclosur) Tj ET Q q 0 0 0 rg BT 357.53 697.10 Td (es) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.86 697.10 Td (, certain investments that are measured at fair ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 685.10 Td (value using the net asset value per share practical expedient have not been classified in the fair value hierarchy) Tj ET Q q 0 0 0 rg BT 491.94 685.10 Td (. ) Tj ET Q q 0 0 0 rg BT 499.26 685.10 Td (The fair value ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 673.10 Td (amounts presented in these tables are intended to permit reconciliation of the fair value hierarchy to the amounts presented in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 661.10 Td (the statements of net assets. See the description of ) Tj ET Q q 0 0 0 rg BT 252.17 661.10 Td (ASU 2015-07 in Note 2 - Basis of Presentation and Significant ) Tj ET Q q 0 0 0 rg BT 505.76 661.10 Td (Accounting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 649.10 Td (Policies, which notes the adoption of this practical expedient for the presentation of our pension plan investments in the fair ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 637.10 Td (value hierarchy tables included above, and the retrospective application to comparative periods.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.91 637.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 616.10 Td (Following is a description of the valuation methodologies used for investments at fair value:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.09 616.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 595.10 Td (Short-term securities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 134.16 595.10 Td (: ) Tj ET Q q 0 0 0 rg BT 139.25 595.10 Td (V) Tj ET Q q 0 0 0 rg BT 145.37 595.10 Td (alued at the net value of shares held by the Company at year end as reported by the sponsor of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 583.10 Td (funds.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.72 583.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (Equity securities and Mutual Funds:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.65 562.10 Td ( ) Tj ET Q q 0 0 0 rg BT 198.96 562.10 Td (V) Tj ET Q q 0 0 0 rg BT 205.08 562.10 Td (alued at the closing price reported on the active market on which the individual ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (securities are traded. Exchange traded mutual funds are included as level 1 above.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.64 550.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 529.10 Td (Government bonds) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 125.82 529.10 Td (: ) Tj ET Q q 0 0 0 rg BT 130.92 529.10 Td (V) Tj ET Q q 0 0 0 rg BT 137.03 529.10 Td (alued at the closing price reported in the active market in which the bond is traded.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.03 529.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 508.10 Td (Corporate bonds:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 121.39 508.10 Td ( ) Tj ET Q q 0 0 0 rg BT 123.71 508.10 Td (V) Tj ET Q q 0 0 0 rg BT 129.82 508.10 Td (alued using pricing models maximizing the use of observable inputs for similar securities. ) Tj ET Q q 0 0 0 rg BT 491.79 508.10 Td (This includes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 496.10 Td (basing value on yields currently available on comparable securities of issuers with similar credit ratings.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.82 496.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 475.10 Td (Other Fixed Income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 130.52 475.10 Td (: Foreign and municipal bonds are valued at the closing price reported in the active market in which the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 463.10 Td (bond is traded.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 109.16 463.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (Pooled / Commingled Funds and Mutual Funds) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 241.10 442.10 Td (: ) Tj ET Q q 0 0 0 rg BT 246.20 442.10 Td (V) Tj ET Q q 0 0 0 rg BT 252.31 442.10 Td (alued at the net value of shares held by the Company at year end as reported ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (by the manager of the funds. ) Tj ET Q q 0 0 0 rg BT 166.73 430.10 Td (These funds are not exchange traded and are not reported by level in the tables above.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.92 430.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 409.10 Td (Derivative investments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 141.36 409.10 Td (: ) Tj ET Q q 0 0 0 rg BT 146.46 409.10 Td (V) Tj ET Q q 0 0 0 rg BT 152.57 409.10 Td (alued at the closing level of the relevant index or security and interest accrual through the valuation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 397.10 Td (date.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.16 397.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 376.10 Td (Private equity funds, Real estate funds, Hedge funds:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 262.46 376.10 Td ( ) Tj ET Q q 0 0 0 rg BT 264.78 376.10 Td (The fair value for these investments is estimated based on the net asset ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 364.10 Td (value derived from the latest audited financial statements or most recent capital account statements provided by the private ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 352.10 Td (equity fund) Tj ET Q q 0 0 0 rg BT 98.60 352.10 Td (s investment manager or third-party administrator) Tj ET Q q 0 0 0 rg BT 297.16 352.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.66 352.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 331.10 Td (Insurance contracts:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 133.04 331.10 Td ( ) Tj ET Q q 0 0 0 rg BT 135.36 331.10 Td (The fair values are determined using model-based techniques that include option-pricing models, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 319.10 Td (discounted cash flow models and similar techniques.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.79 319.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.10 Td (The following table reconciles the net plan investments to the total fair value of the plan assets:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 263.60 392.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 263.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 263.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 263.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 235.60 392.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 235.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 235.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 235.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 207.60 392.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 207.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 207.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 207.60 58.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 275.6 m 500.5 275.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500.5 275.6 m 504.5 275.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 275.6 m 562.5 275.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 275.6 m 500.5 275.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 263.6 m 500.5 263.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500.5 275.6 m 504.5 275.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 275.6 m 562.5 275.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 263.6 m 562.5 263.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 263.6 m 562.5 263.6 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 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 442.5 194.60000000000002 m 500.5 194.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 192.60000000000002 m 500.5 192.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 194.60000000000002 m 562.5 194.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 192.60000000000002 m 562.5 192.60000000000002 l s BT /F2 9.00 Tf ET q 0 0 0 rg BT 475.80 279.00 Td (December 31,) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 462.00 267.00 Td (2016) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 524.00 267.00 Td (2015) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 254.86 Td (Net assets held in investments) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 445.00 254.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 476.75 254.06 Td (8,100) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 507.00 254.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 538.75 254.06 Td (4,385) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 240.86 Td (PRW plan assets) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 492.50 240.06 Td (3) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 550.00 240.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 226.86 Td (Net receivable for investments purchased) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 492.50 226.06 Td (3) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 550.00 226.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 212.86 Td (Dividend and interest receivable) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 492.50 212.06 Td (3) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 550.00 212.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 71.00 198.86 Td (Fair value of plan assets) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 445.00 198.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 476.75 198.06 Td (8,109) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 507.00 198.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 538.75 198.06 Td (4,385) Tj ET Q BT /F1 10.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 173.10 Td (Level 3 investments) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 128.31 173.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 152.10 Td (As a result of the inherent limitations related to the valuations of the Level3 investments, due to the unobservable inputs of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 140.10 Td (underlying funds, the estimated fair value may dif) Tj ET Q q 0 0 0 rg BT 249.76 140.10 Td (fer significantly from the values that would have been used had a market for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 128.10 Td (those investments existed.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 154.71 128.10 Td ( ) Tj ET Q endstream endobj 239 0 obj <> endobj 240 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.65 31.60 Td (1) Tj ET Q q 0 0 0 rg BT 303.28 31.60 Td (19) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (The following table sets forth a summary of changes in the fair value of the plans) Tj ET Q q 0 0 0 rg BT 377.77 742.10 Td ( Level3 assets for the fiscal year ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (December 31, 2016:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 696.60 439.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 696.60 73.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 668.60 439.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 668.60 73.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 696.6 m 562.5 696.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 654.6 m 562.5 654.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 641.6 m 562.5 641.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 639.6 m 562.5 639.6 l s BT /F2 9.00 Tf ET q 0 0 0 rg BT 510.50 710.05 Td (Level 3 ) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 499.35 701.05 Td (Roll Forward) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 688.55 Td (Beginning balance at December 31, 2015) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 492.00 687.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 554.50 687.06 Td (1) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 674.55 Td (Insurance contracts acquired in the Merger) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 550.00 673.06 Td (16) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 660.55 Td (Foreign exchange) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 550.00 659.06 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 646.55 Td (Ending balance at December 31, 2016) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 492.00 645.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 550.00 645.06 Td (17) Tj ET Q BT /F1 10.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 620.10 Td (Contributions and Benefit Payments ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 197.76 620.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 599.10 Td (Funding is based on actuarially determined contributions and is limited to amounts that are currently deductible for tax ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 587.10 Td (purposes. Since funding calculations are based on dif) Tj ET Q q 0 0 0 rg BT 262.54 587.10 Td (ferent measurements than those used for accounting purposes, pension ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 575.10 Td (contributions are not equal to net periodic pension costs.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.78 575.10 Td ( ) 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 our projected pension contributions to our qualified plans for fiscal year 2017, as well as the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 542.10 Td (pension contributions to our qualified plans in fiscal years 2016 and 2015:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 511.60 330.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 511.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 511.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 511.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 511.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 511.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 483.60 330.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 483.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 483.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 483.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 483.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 483.60 58.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 511.6 m 438.5 511.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 511.6 m 500.5 511.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 511.6 m 562.5 511.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 511.6 m 562.5 511.6 l s BT /F2 9.00 Tf ET q 0 0 0 rg BT 400.00 523.00 Td (2017) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 387.55 514.05 Td (\(Projected\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 462.00 523.00 Td (2016) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 455.25 514.05 Td (\(Actual\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 524.00 523.00 Td (2015) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 517.25 514.05 Td (\(Actual\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 502.86 Td (U.S.) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 383.00 502.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 426.00 502.06 Td (50) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 445.00 502.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 488.00 502.06 Td (50) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 507.00 502.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 550.00 502.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 488.86 Td (U.K.) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 383.00 488.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 426.00 488.06 Td (60) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 445.00 488.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 483.50 488.06 Td (105) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 507.00 488.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 545.50 488.06 Td (102) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 474.86 Td (Other) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 383.00 474.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 426.00 474.06 Td (13) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 445.00 474.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 488.00 474.06 Td (29) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 507.00 474.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 554.50 474.06 Td (6) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 449.10 Td (Expected benefit payments from our defined benefit pension plans to current plan participants, including the ef) Tj ET Q q 0 0 0 rg BT 493.56 449.10 Td (fect of their ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 437.10 Td (expected future service, as appropriate, are as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 401.60 204.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 254.50 401.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 312.50 401.60 5.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.50 401.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.50 401.60 5.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 401.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 401.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 401.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 401.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 401.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 373.60 204.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 254.50 373.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 312.50 373.60 5.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.50 373.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.50 373.60 5.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 373.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 373.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 373.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 373.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 373.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 345.60 204.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 254.50 345.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 312.50 345.60 5.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.50 345.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.50 345.60 5.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 345.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 345.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 345.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 345.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 345.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 317.60 204.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 254.50 317.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 312.50 317.60 5.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.50 317.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.50 317.60 5.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 317.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 317.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 317.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 317.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 317.60 58.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 254.5 414.6 m 312.5 414.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 312.5 414.6 m 317.5 414.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 317.5 414.6 m 375.5 414.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375.5 414.6 m 380.5 414.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 414.6 m 438.5 414.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 414.6 m 442.5 414.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 414.6 m 500.5 414.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500.5 414.6 m 504.5 414.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 414.6 m 562.5 414.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 254.5 401.6 m 312.5 401.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 312.5 414.6 m 317.5 414.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 317.5 401.6 m 375.5 401.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375.5 414.6 m 380.5 414.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 401.6 m 438.5 401.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 401.6 m 500.5 401.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 401.6 m 562.5 401.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 254.5 317.6 m 312.5 317.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 317.5 317.6 m 375.5 317.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 317.6 m 438.5 317.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 317.6 m 500.5 317.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 317.6 m 562.5 317.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 254.5 304.6 m 312.5 304.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 254.5 302.6 m 312.5 302.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 317.5 304.6 m 375.5 304.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 317.5 302.6 m 375.5 302.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 304.6 m 438.5 304.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 302.6 m 438.5 302.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 304.6 m 500.5 304.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 302.6 m 500.5 302.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 304.6 m 562.5 304.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 302.6 m 562.5 302.6 l s BT /F2 9.00 Tf ET q 0 0 0 rg BT 374.35 418.00 Td (Benefit Payments) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 53.00 406.00 Td (Fiscal Year) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 274.95 406.00 Td (U.S.) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 337.00 406.00 Td (U.K.) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 397.55 406.00 Td (Other) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 460.70 406.00 Td (PRW) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 523.15 406.00 Td (Total) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 392.86 Td (2017) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 295.50 392.06 Td (226) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 363.00 392.06 Td (91) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 426.00 392.06 Td (27) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 488.00 392.06 Td (15) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 545.50 392.06 Td (359) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 378.86 Td (2018) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 295.50 378.06 Td (223) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 363.00 378.06 Td (97) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 426.00 378.06 Td (22) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 488.00 378.06 Td (16) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 545.50 378.06 Td (358) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 364.86 Td (2019) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 295.50 364.06 Td (231) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 358.50 364.06 Td (101) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 426.00 364.06 Td (24) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 488.00 364.06 Td (16) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 545.50 364.06 Td (372) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 350.86 Td (2020) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 295.50 350.06 Td (239) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 358.50 350.06 Td (105) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 426.00 350.06 Td (25) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 488.00 350.06 Td (16) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 545.50 350.06 Td (385) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 336.86 Td (2021) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 295.50 336.06 Td (244) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 358.50 336.06 Td (111) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 426.00 336.06 Td (26) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 488.00 336.06 Td (16) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 545.50 336.06 Td (397) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 322.86 Td (Years 2022 2026) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 288.75 322.06 Td (1,329) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 358.50 322.06 Td (649) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 421.50 322.06 Td (162) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 488.00 322.06 Td (84) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 538.75 322.06 Td (2,224) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 257.00 308.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 288.75 308.06 Td (2,492) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 320.00 308.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 351.75 308.06 Td (1,154) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 383.00 308.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 421.50 308.06 Td (286) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 445.00 308.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 483.50 308.06 Td (163) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 507.00 308.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 538.75 308.06 Td (4,095) Tj ET Q BT /F1 10.00 Tf ET BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 283.10 Td (Defined Contribution Plan) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 160.58 283.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 266.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 266.10 Td (e have defined contribution plans covering eligible employees in many countries. ) Tj ET Q q 0 0 0 rg BT 386.14 266.10 Td (The most significant plans are in the U.S. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 254.10 Td (and U.K. and are described here. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 183.55 254.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 237.10 Td (Legacy ) Tj ET Q q 0 0 0 rg BT 81.74 237.10 Td (W) Tj ET Q q 0 0 0 rg BT 90.78 237.10 Td (illis has a 401\(k\) plan covering all eligible employees of Legacy ) Tj ET Q q 0 0 0 rg BT 350.24 237.10 Td (W) Tj ET Q q 0 0 0 rg BT 359.28 237.10 Td (illis U.S. and its subsidiaries. ) Tj ET Q q 0 0 0 rg BT 477.99 237.10 Td (The plan allows ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 225.10 Td (participants to make pre-tax contributions which the Company) Tj ET Q q 0 0 0 rg BT 299.57 225.10 Td (, at its discretion, may match. ) Tj ET Q q 0 0 0 rg BT 419.26 225.10 Td (All investment assets of the plan ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 213.10 Td (are held in a trust account administered by independent trustees. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.58 213.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 196.10 Td (The Legacy ) Tj ET Q q 0 0 0 rg BT 99.79 196.10 Td (T) Tj ET Q q 0 0 0 rg BT 105.20 196.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 131.40 196.10 Td (W) Tj ET Q q 0 0 0 rg BT 140.04 196.10 Td (atson U.S. Defined Contribution Plan allows eligible ) Tj ET Q q 0 0 0 rg BT 353.45 196.10 Td (T) Tj ET Q q 0 0 0 rg BT 358.86 196.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 385.06 196.10 Td (W) Tj ET Q q 0 0 0 rg BT 393.70 196.10 Td (atson U.S. employees to participate in a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 184.10 Td (savings plan design that provides for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 199.42 184.10 Td (100%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 222.75 184.10 Td ( match on the first ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.01 184.10 Td (2%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.34 184.10 Td ( of employee contributions and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.25 184.10 Td (50%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.58 184.10 Td ( match on the next ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.95 184.10 Td (4%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.28 184.10 Td ( of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 172.10 Td (employee contributions. Employees vest in the employer match upon ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.38 172.10 Td (two) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.38 172.10 Td ( years of service. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.62 172.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 151.10 Td (The Legacy ) Tj ET Q q 0 0 0 rg BT 99.79 151.10 Td (T) Tj ET Q q 0 0 0 rg BT 105.20 151.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 131.40 151.10 Td (W) Tj ET Q q 0 0 0 rg BT 140.04 151.10 Td (atson U.K. pension plan has a money purchase feature to which we make core contributions plus ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 139.10 Td (additional contributions matching those of the participants up to a maximum rate. Contribution rates depend on the age of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 127.10 Td (participant and whether or not they arise from salary sacrifice arrangements through which the participant has elected to receive ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 115.10 Td (a pension contribution in lieu of additional salary) Tj ET Q q 0 0 0 rg BT 246.25 115.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 251.25 115.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 94.10 Td (The Company) Tj ET Q q 0 0 0 rg BT 109.71 94.10 Td (s expenses related to its defined contribution plans for the years ended December 31, 2016, 2015 and 2014 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 82.10 Td (amounted to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 102.21 82.10 Td ($152 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 153.60 82.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 158.60 82.10 Td ($77 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 205.00 82.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.43 82.10 Td ($70 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.83 82.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.83 82.10 Td ( ) Tj ET Q endstream endobj 241 0 obj <> endobj 242 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.50 31.60 Td (120) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (Note 13) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 82.49 742.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 97.49 742.25 Td (Commitments and Contingencies) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 239.16 742.25 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 721.25 Td (Operating Leases) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 121.94 721.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 700.25 Td (The Company leases certain land, building and equipment under various operating lease commitments. ) Tj ET Q q 0 0 0 rg BT 464.43 700.25 Td (The total amount of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 688.25 Td (minimum rent is expensed on a straight-line basis over the term of the lease. Rental expenses and sub-lease rental income for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 676.25 Td (operating leases are recorded as part of other operating expenses in the consolidated statements of operations. Rental expense, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 664.25 Td (exclusive of sublease income, was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 189.96 664.25 Td ($302 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 241.35 664.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 246.35 664.25 Td ($142 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.74 664.25 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.68 664.25 Td ($134 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.07 664.25 Td ( for the years ended December 31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.01 664.25 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.01 664.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.01 664.25 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 556.01 664.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 652.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.94 652.25 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.94 652.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 139.60 652.25 Td (. ) Tj ET Q q 0 0 0 rg BT 144.42 652.25 Td (W) Tj ET Q q 0 0 0 rg BT 153.06 652.25 Td (e have entered into sublease agreements for some of our excess leased space. Sublease income was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 640.25 Td ($17 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 96.39 640.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 101.39 640.25 Td ($17 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 147.78 640.25 Td (, and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 167.22 640.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.72 640.25 Td ($13 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 216.11 640.25 Td ( for the years ended December 31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.05 640.25 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.05 640.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.05 640.25 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.05 640.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.49 640.25 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.49 640.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 493.15 640.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 640.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 619.25 Td (As of December31, 2016, the aggregate future minimum rental commitments under all non-cancellable operating lease ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 607.25 Td (agreements are as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 575.75 330.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 575.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 575.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 575.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 575.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 575.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 547.75 330.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 547.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 547.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 547.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 547.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 547.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 519.75 330.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 519.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 519.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 519.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 519.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 519.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 491.75 330.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 491.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 491.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 491.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 491.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 491.75 58.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 575.75 m 438.5 575.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 575.75 m 500.5 575.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 575.75 m 562.5 575.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 491.75 m 438.5 491.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 491.75 m 500.5 491.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 491.75 m 562.5 491.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 491.75 m 438.5 491.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 478.75 m 438.5 478.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 476.75 m 438.5 476.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 491.75 m 500.5 491.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 478.75 m 500.5 478.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 476.75 m 500.5 476.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 478.75 m 562.5 478.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 476.75 m 562.5 476.75 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 387.90 587.98 Td (Gr) Tj ET Q q 0 0 0 rg BT 397.53 587.98 Td (oss r) Tj ET Q q 0 0 0 rg BT 413.16 587.98 Td (ental) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 385.85 579.98 Td (commitments) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 448.70 587.98 Td (Rentals fr) Tj ET Q q 0 0 0 rg BT 482.55 587.98 Td (om) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 455.20 579.98 Td (subleases) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 515.85 587.98 Td (Net r) Tj ET Q q 0 0 0 rg BT 533.25 587.98 Td (ental) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 509.85 579.98 Td (commitments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 566.32 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 566.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 566.32 Td (238) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 566.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.30 566.37 Td (\(16) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 566.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 566.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 566.32 Td (222) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 552.32 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 552.32 Td (194) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.30 552.37 Td (\(16) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 552.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 552.32 Td (178) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 538.32 Td (2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 538.32 Td (171) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.30 538.37 Td (\(14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 538.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 538.32 Td (157) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 524.32 Td (2020) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 524.32 Td (146) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.30 524.37 Td (\(14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 524.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 524.32 Td (132) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 510.32 Td (2021) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 510.32 Td (122) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.30 510.37 Td (\(11) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 510.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 510.32 Td (111) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 496.32 Td (Thereafter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 496.32 Td (611) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.30 496.37 Td (\(11) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 496.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 496.32 Td (600) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 482.32 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 482.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.15 482.32 Td (1,482) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 482.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.30 482.37 Td (\(82) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 482.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 482.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 482.32 Td (1,400) Tj ET Q BT /F1 10.00 Tf ET BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 457.25 Td (Guarantees) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 97.78 457.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 436.25 Td (Guarantees issued by certain of ) Tj ET Q q 0 0 0 rg BT 177.83 436.25 Td (W) Tj ET Q q 0 0 0 rg BT 186.87 436.25 Td (illis ) Tj ET Q q 0 0 0 rg BT 204.19 436.25 Td (T) Tj ET Q q 0 0 0 rg BT 209.60 436.25 Td (owers ) Tj ET Q q 0 0 0 rg BT 235.80 436.25 Td (W) Tj ET Q q 0 0 0 rg BT 244.44 436.25 Td (atson) Tj ET Q q 0 0 0 rg BT 268.33 436.25 Td (s subsidiaries with respect to the senior notes and revolving credit ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 424.25 Td (facilities are discussed in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 152.74 424.25 Td (Note 10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 184.68 424.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 199.68 424.25 Td (Debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 219.12 424.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 403.25 Td (Certain of ) Tj ET Q q 0 0 0 rg BT 92.58 403.25 Td (W) Tj ET Q q 0 0 0 rg BT 101.62 403.25 Td (illis ) Tj ET Q q 0 0 0 rg BT 118.95 403.25 Td (T) Tj ET Q q 0 0 0 rg BT 124.36 403.25 Td (owers ) Tj ET Q q 0 0 0 rg BT 150.56 403.25 Td (W) Tj ET Q q 0 0 0 rg BT 159.19 403.25 Td (atson) Tj ET Q q 0 0 0 rg BT 183.08 403.25 Td (s subsidiaries have given the landlords of some leasehold properties occupied by the Company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 391.25 Td (in the United Kingdom and the United States guarantees in respect of the performance of the lease obligations of the subsidiary ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 379.25 Td (holding the lease. ) Tj ET Q q 0 0 0 rg BT 122.58 379.25 Td (The operating lease obligations subject to such guarantees amounted to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.72 379.25 Td ($558 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.11 379.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.55 379.25 Td ($676 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.94 379.25 Td ( at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 367.25 Td (December31, 2016 and 2015, respectively) Tj ET Q q 0 0 0 rg BT 220.68 367.25 Td (. ) Tj ET Q q 0 0 0 rg BT 225.50 367.25 Td (The capital lease obligations subject to such guarantees amounted to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.53 367.25 Td ($9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.92 367.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 355.25 Td ($10 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 96.39 355.25 Td ( as of December31, 2016 and 2015, respectively) Tj ET Q q 0 0 0 rg BT 291.24 355.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.74 355.25 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 334.25 Td (Acquisition liabilities) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 137.51 334.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 313.25 Td (The Company has deferred and contingent consideration due to be paid on existing acquisitions until 2019 totaling ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.29 313.25 Td ($142 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 301.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.89 301.25 Td ( at December 31, 2016. Most notably) Tj ET Q q 0 0 0 rg BT 227.10 301.25 Td (, our liability for the acquisition of Miller Insurance Services LLP) Tj ET Q q 0 0 0 rg BT 490.27 301.25 Td ( in May 2015, for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 289.25 Td (which deferred and contingent consideration, including interest, was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.03 289.25 Td ($95 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.42 289.25 Td ( at December 31, 2016. ) Tj ET Q q 0 0 0 rg BT 468.04 289.25 Td (T) Tj ET Q q 0 0 0 rg BT 473.45 289.25 Td (otal deferred and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 277.25 Td (contingent consideration paid during the year ended December 31, 2016 was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.35 277.25 Td ($67 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.74 277.25 Td (. ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 256.25 Td (Other contractual obligations) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 171.68 256.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 235.25 Td (For certain subsidiaries and associates, the Company has the right to purchase shares \(a call option\) from co-shareholders at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 223.25 Td (various dates in the future. In addition, the co-shareholders of certain subsidiaries and associates have the right to sell their ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 211.25 Td (shares \(a put option\) to the Company at various dates in the future. Generally) Tj ET Q q 0 0 0 rg BT 358.15 211.25 Td (, the exercise price of such put options and call ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 199.25 Td (options is formula-based \(using revenues and earnings\) and is designed to reflect fair value. Based on current projections of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 187.25 Td (profitability and exchange rates, and assuming the put options are exercised, the potential amount payable from these options is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 175.25 Td (not expected to exceed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 143.84 175.25 Td ($73 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.23 175.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 192.73 175.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 154.25 Td (In July 2010, the Company made a capital commitment of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 285.22 154.25 Td ($25 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.62 154.25 Td ( to ) Tj ET Q q 0 0 0 rg BT 344.21 154.25 Td (T) Tj ET Q q 0 0 0 rg BT 349.97 154.25 Td (rident ) Tj ET Q q 0 0 0 rg BT 375.62 154.25 Td (V) Tj ET Q q 0 0 0 rg BT 382.66 154.25 Td ( Parallel Fund, LP) Tj ET Q q 0 0 0 rg BT 454.32 154.25 Td (, an investment fund ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 142.25 Td (managed by Stone Point Capital. ) Tj ET Q q 0 0 0 rg BT 183.69 142.25 Td (This replaced a capital commitment of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.30 142.25 Td ($25 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.69 142.25 Td ( that had been made to ) Tj ET Q q 0 0 0 rg BT 479.25 142.25 Td (T) Tj ET Q q 0 0 0 rg BT 485.01 142.25 Td (rident) Tj ET Q q 0 0 0 rg BT 510.65 142.25 Td (V) Tj ET Q q 0 0 0 rg BT 516.59 142.25 Td (, LP) Tj ET Q q 0 0 0 rg BT 532.89 142.25 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 130.25 Td (December 2009. ) Tj ET Q q 0 0 0 rg BT 118.03 130.25 Td (As of December31, 2016 there have been approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.06 130.25 Td ($23 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.45 130.25 Td ( of capital contributions. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.70 130.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 109.25 Td (In May 201) Tj ET Q q 0 0 0 rg BT 96.29 109.25 Td (1, the Company made a capital commitment of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.51 109.25 Td ($10 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.91 109.25 Td ( to Dowling Capital PartnersI, LP) Tj ET Q q 0 0 0 rg BT 468.73 109.25 Td (. ) Tj ET Q q 0 0 0 rg BT 473.17 109.25 Td (As of December31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 97.25 Td (2016 there had been approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 193.56 97.25 Td ($8 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 234.95 97.25 Td ( of capital contributions. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.21 97.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 76.25 Td (Other contractual obligations at December31, 2016 and 2015, include certain capital lease obligations totaling ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.14 76.25 Td ($54 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.53 76.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 64.25 Td ($59 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 96.39 64.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 149.05 64.25 Td (, primarily in respect of the Company) Tj ET Q q 0 0 0 rg BT 302.07 64.25 Td (s Nashville property) Tj ET Q q 0 0 0 rg BT 382.51 64.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.01 64.25 Td ( ) Tj ET Q endstream endobj 243 0 obj <> endobj 244 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.50 31.60 Td (121) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (On October 1, 2015, Legacy ) Tj ET Q q 0 0 0 rg BT 166.17 742.10 Td (T) Tj ET Q q 0 0 0 rg BT 171.58 742.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 197.78 742.10 Td (W) Tj ET Q q 0 0 0 rg BT 206.42 742.10 Td (atson made a capital commitment of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.15 742.10 Td ($40 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.54 742.10 Td ( to Longitude Holdings Limited in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (exchange for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.41 730.10 Td (48,322) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.91 730.10 Td ( common shares outstanding representing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.49 730.10 Td (24.2%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.32 730.10 Td ( of outstanding equity ownership. ) Tj ET Q q 0 0 0 rg BT 464.92 730.10 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.36 730.10 Td (December31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 718.10 Td (, approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.26 718.10 Td ($5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 176.65 718.10 Td ( of capital contributions had been made towards this commitment.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.03 718.10 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 697.10 Td (Indemnification ) Tj ET Q q 0 0 0 rg BT 118.80 697.10 Td (Agreements) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 167.69 697.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 676.10 Td (W) Tj ET Q q 0 0 0 rg BT 59.04 676.10 Td (illis ) Tj ET Q q 0 0 0 rg BT 76.36 676.10 Td (T) Tj ET Q q 0 0 0 rg BT 81.77 676.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 107.97 676.10 Td (W) Tj ET Q q 0 0 0 rg BT 116.61 676.10 Td (atson has various agreements which provide that it may be obligated to indemnify the other party to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 664.10 Td (agreement with respect to certain matters. Generally) Tj ET Q q 0 0 0 rg BT 258.42 664.10 Td (, these indemnification provisions are included in contracts arising in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 652.10 Td (normal course of business and in connection with the purchase and sale of certain businesses. ) Tj ET Q q 0 0 0 rg BT 425.45 652.10 Td (Although it is not possible to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 640.10 Td (predict the maximum potential amount of future payments that may become due under these indemnification agreements ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 628.10 Td (because of the conditional nature of ) Tj ET Q q 0 0 0 rg BT 195.32 628.10 Td (W) Tj ET Q q 0 0 0 rg BT 204.36 628.10 Td (illis ) Tj ET Q q 0 0 0 rg BT 221.68 628.10 Td (T) Tj ET Q q 0 0 0 rg BT 227.09 628.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 253.29 628.10 Td (W) Tj ET Q q 0 0 0 rg BT 261.93 628.10 Td (atson) Tj ET Q q 0 0 0 rg BT 285.82 628.10 Td (s obligations and the unique facts of each particular agreement, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 616.10 Td (W) Tj ET Q q 0 0 0 rg BT 59.04 616.10 Td (illis ) Tj ET Q q 0 0 0 rg BT 76.36 616.10 Td (T) Tj ET Q q 0 0 0 rg BT 81.77 616.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 107.97 616.10 Td (W) Tj ET Q q 0 0 0 rg BT 116.61 616.10 Td (atson does not believe any potential liability that might arise from such indemnity provisions is probable or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 604.10 Td (material. ) Tj ET Q q 0 0 0 rg BT 87.58 604.10 Td (There are no provisions for recourse to third parties, nor are any assets held by any third parties that any guarantor can ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 592.10 Td (liquidate to recover amounts paid under such indemnities.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.61 592.10 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 571.10 Td (Legal Proceedings) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 126.37 571.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (In the ordinary course of business, the Company is subject to various actual and potential claims, lawsuits, and other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (proceedings. Some of the claims, lawsuits and other proceedings seek damages in amounts which could, if assessed, be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (significant. ) Tj ET Q q 0 0 0 rg BT 99.53 526.10 Td (W) Tj ET Q q 0 0 0 rg BT 108.17 526.10 Td (e do not expect the impact of claims or demands not described below to be material to the Company) Tj ET Q q 0 0 0 rg BT 511.39 526.10 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (consolidated financial statements. ) Tj ET Q q 0 0 0 rg BT 190.05 514.10 Td (The Company also receives subpoenas in the ordinary course of business and, from time to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (time, receives requests for information in connection with governmental investigations.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.63 502.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 481.10 Td (Errors and omissions claims, lawsuits, and other proceedings arising in the ordinary course of business are covered in part by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 469.10 Td (professional indemnity or other appropriate insurance. See Note 14 for the amounts accrued at December 31, 2016 and 2015 in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 457.10 Td (the consolidated balance sheets. ) Tj ET Q q 0 0 0 rg BT 180.05 457.10 Td (The terms of this insurance vary by policy year) Tj ET Q q 0 0 0 rg BT 368.33 457.10 Td (. Regarding self-insured risks, the Company has ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 445.10 Td (established provisions which are believed to be adequate in the light of current information and legal advice, or) Tj ET Q q 0 0 0 rg BT 494.45 445.10 Td (, in certain ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 433.10 Td (cases, where a range of loss exists, the Company accrues the minimum amount in the range if no amount within the range is a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 421.10 Td (better estimate than any other amount. ) Tj ET Q q 0 0 0 rg BT 208.10 421.10 Td (The Company adjusts such provisions from time to time according to developments.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.82 421.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 400.10 Td (On the basis of current information, the Company does not expect that the actual claims, lawsuits and other proceedings to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 388.10 Td (which the Company is subject, or potential claims, lawsuits, and other proceedings relating to matters of which it is aware, will ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 376.10 Td (ultimately have a material adverse ef) Tj ET Q q 0 0 0 rg BT 197.25 376.10 Td (fect on the Company) Tj ET Q q 0 0 0 rg BT 283.61 376.10 Td (s financial condition, results of operations or liquidity) Tj ET Q q 0 0 0 rg BT 497.92 376.10 Td (. Nonetheless, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 364.10 Td (given the lar) Tj ET Q q 0 0 0 rg BT 99.80 364.10 Td (ge or indeterminate amounts sought in certain of these actions, and the inherent unpredictability of litigation and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 352.10 Td (disputes with insurance companies, it is possible that an adverse outcome or settlement in certain matters could, from time to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 340.10 Td (time, have a material adverse ef) Tj ET Q q 0 0 0 rg BT 176.97 340.10 Td (fect on the Company) Tj ET Q q 0 0 0 rg BT 263.34 340.10 Td (s results of operations or cash flows in any particular quarterly or annual ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 328.10 Td (periods.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.94 328.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 307.10 Td (The Company provides for contingent liabilities based on ) Tj ET Q q 0 0 0 rg BT 282.18 307.10 Td (ASC 450, Contingencies) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 381.34 307.10 Td (,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.84 307.10 Td ( when it is determined that a liability) Tj ET Q q 0 0 0 rg BT 530.10 307.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 295.10 Td (inclusive of defense costs, is probable and reasonably estimable. Unasserted claims reserves are primarily developed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 283.10 Td (actuarially) Tj ET Q q 0 0 0 rg BT 91.55 283.10 Td (. Litigation is subject to many factors which are dif) Tj ET Q q 0 0 0 rg BT 295.76 283.10 Td (ficult to predict so there can be no assurance that in the event of a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 271.10 Td (material unfavorable result in one or more claims, we will not incur material costs.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.73 271.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 250.10 Td (In r) Tj ET Q q 0 0 0 rg BT 64.35 250.10 Td (e T) Tj ET Q q 0 0 0 rg BT 75.93 250.10 Td (owers W) Tj ET Q q 0 0 0 rg BT 109.74 250.10 Td (atson& Co. Stockholders Litigation) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 254.46 250.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 229.10 Td (Five) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.78 229.10 Td ( putative class action complaints challenging the Mer) Tj ET Q q 0 0 0 rg BT 280.59 229.10 Td (ger were filed in the Court of Chancery for the State of Delaware, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 217.10 Td (captioned New Jersey Building Laborers) Tj ET Q q 0 0 0 rg BT 215.87 217.10 Td ( Statewide ) Tj ET Q q 0 0 0 rg BT 259.76 217.10 Td (Annuity Fund v) Tj ET Q q 0 0 0 rg BT 322.45 217.10 Td (. ) Tj ET Q q 0 0 0 rg BT 327.27 217.10 Td (T) Tj ET Q q 0 0 0 rg BT 332.68 217.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 358.88 217.10 Td (W) Tj ET Q q 0 0 0 rg BT 367.51 217.10 Td (atson & Co., et al., C.A. No. 1) Tj ET Q q 0 0 0 rg BT 488.25 217.10 Td (1270-CB \(filed on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 205.10 Td (July 9, 2015\), Stein v) Tj ET Q q 0 0 0 rg BT 134.91 205.10 Td (. ) Tj ET Q q 0 0 0 rg BT 139.73 205.10 Td (T) Tj ET Q q 0 0 0 rg BT 145.14 205.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 171.34 205.10 Td (W) Tj ET Q q 0 0 0 rg BT 179.98 205.10 Td (atson & Co., et al., C.A. No. 1) Tj ET Q q 0 0 0 rg BT 300.71 205.10 Td (1271-CB \(filed on July 9, 2015\), City of ) Tj ET Q q 0 0 0 rg BT 464.04 205.10 Td (Atlanta Firefighters) Tj ET Q q 0 0 0 rg BT 545.21 205.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 193.10 Td (Pension Fund v) Tj ET Q q 0 0 0 rg BT 111.58 193.10 Td (. Ganzi, et al., C.A. No. 1) Tj ET Q q 0 0 0 rg BT 213.13 193.10 Td (1275-CB \(filed on July 10, 2015\), Cordell v) Tj ET Q q 0 0 0 rg BT 388.31 193.10 Td (. Haley) Tj ET Q q 0 0 0 rg BT 416.53 193.10 Td (, et al., C.A. No. 1) Tj ET Q q 0 0 0 rg BT 489.21 193.10 Td (1358-CB \(filed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 181.10 Td (on July 31, 2015\), and Mills v) Tj ET Q q 0 0 0 rg BT 169.91 181.10 Td (. ) Tj ET Q q 0 0 0 rg BT 174.73 181.10 Td (T) Tj ET Q q 0 0 0 rg BT 180.14 181.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 206.34 181.10 Td (W) Tj ET Q q 0 0 0 rg BT 214.98 181.10 Td (atson & Co., et al., C.A. No. 1) Tj ET Q q 0 0 0 rg BT 335.71 181.10 Td (1423-CB \(filed on ) Tj ET Q q 0 0 0 rg BT 410.98 181.10 Td (August 24, 2015\). ) Tj ET Q q 0 0 0 rg BT 488.02 181.10 Td (The Stein action ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 169.10 Td (was voluntarily dismissed on July 28, 2015. ) Tj ET Q q 0 0 0 rg BT 230.37 169.10 Td (These complaints were filed by purported stockholders of ) Tj ET Q q 0 0 0 rg BT 463.46 169.10 Td (T) Tj ET Q q 0 0 0 rg BT 468.87 169.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 495.07 169.10 Td (W) Tj ET Q q 0 0 0 rg BT 503.71 169.10 Td (atson on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 157.10 Td (behalf of a putative class comprised of all ) Tj ET Q q 0 0 0 rg BT 219.20 157.10 Td (T) Tj ET Q q 0 0 0 rg BT 224.61 157.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 250.82 157.10 Td (W) Tj ET Q q 0 0 0 rg BT 259.45 157.10 Td (atson stockholders. ) Tj ET Q q 0 0 0 rg BT 338.43 157.10 Td (The complaints sought, among other things, to enjoin ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 145.10 Td (the Mer) Tj ET Q q 0 0 0 rg BT 81.20 145.10 Td (ger) Tj ET Q q 0 0 0 rg BT 93.56 145.10 Td (, and generally alleged that ) Tj ET Q q 0 0 0 rg BT 203.89 145.10 Td (T) Tj ET Q q 0 0 0 rg BT 209.30 145.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 235.50 145.10 Td (W) Tj ET Q q 0 0 0 rg BT 244.14 145.10 Td (atson) Tj ET Q q 0 0 0 rg BT 268.03 145.10 Td (s directors breached their fiduciary duties to ) Tj ET Q q 0 0 0 rg BT 446.39 145.10 Td (T) Tj ET Q q 0 0 0 rg BT 451.80 145.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 478.00 145.10 Td (W) Tj ET Q q 0 0 0 rg BT 486.64 145.10 Td (atson stockholders ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 133.10 Td (by agreeing to mer) Tj ET Q q 0 0 0 rg BT 125.07 133.10 Td (ge ) Tj ET Q q 0 0 0 rg BT 136.83 133.10 Td (T) Tj ET Q q 0 0 0 rg BT 142.24 133.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 168.44 133.10 Td (W) Tj ET Q q 0 0 0 rg BT 177.08 133.10 Td (atson with ) Tj ET Q q 0 0 0 rg BT 220.78 133.10 Td (W) Tj ET Q q 0 0 0 rg BT 229.82 133.10 Td (illis through an inadequate and unfair process, which led to inadequate and unfair ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 121.10 Td (consideration, and by agreeing to unfair deal protection devices. ) Tj ET Q q 0 0 0 rg BT 311.39 121.10 Td (The complaints also alleged that ) Tj ET Q q 0 0 0 rg BT 443.12 121.10 Td (W) Tj ET Q q 0 0 0 rg BT 452.15 121.10 Td (illis and the Mer) Tj ET Q q 0 0 0 rg BT 517.79 121.10 Td (ger Sub ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 109.10 Td (formed for purposes of consummating the Mer) Tj ET Q q 0 0 0 rg BT 237.00 109.10 Td (ger aided and abetted the alleged breaches of fiduciary duties by ) Tj ET Q q 0 0 0 rg BT 496.43 109.10 Td (T) Tj ET Q q 0 0 0 rg BT 501.84 109.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 528.04 109.10 Td (W) Tj ET Q q 0 0 0 rg BT 536.67 109.10 Td (atson ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 97.10 Td (directors. On ) Tj ET Q q 0 0 0 rg BT 106.66 97.10 Td (August 17, 2015, the court consolidated the New Jersey Building Laborers) Tj ET Q q 0 0 0 rg BT 408.07 97.10 Td ( Statewide ) Tj ET Q q 0 0 0 rg BT 451.95 97.10 Td (Annuity Fund, City of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 85.10 Td (Atlanta Firefighters) Tj ET Q q 0 0 0 rg BT 131.18 85.10 Td ( Pension Fund, and Cordell actions \(the Mills action had not yet been filed\) and any other actions then ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 73.10 Td (pending or thereafter filed arising out of the same issues of fact under the caption In re ) Tj ET Q q 0 0 0 rg BT 398.31 73.10 Td (T) Tj ET Q q 0 0 0 rg BT 403.72 73.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 429.92 73.10 Td (W) Tj ET Q q 0 0 0 rg BT 438.55 73.10 Td (atson & Co. Stockholders ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 61.10 Td (Litigation, Consolidated C.A. No. 1) Tj ET Q q 0 0 0 rg BT 192.95 61.10 Td (1270-CB. On September 9, 2015, the plaintif) Tj ET Q q 0 0 0 rg BT 375.53 61.10 Td (fs in the consolidated action and in Mills filed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 49.10 Td (a consolidated amended complaint, which, among other things, added claims for alleged misstatements and omissions from a ) Tj ET Q endstream endobj 245 0 obj <> endobj 246 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.50 31.60 Td (122) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (preliminary proxy statement and prospectus for the Mer) Tj ET Q q 0 0 0 rg BT 273.36 742.10 Td (ger dated ) Tj ET Q q 0 0 0 rg BT 312.24 742.10 Td (August 27, 2015. On September 17, 2015, plaintif) Tj ET Q q 0 0 0 rg BT 514.81 742.10 Td (fs filed a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (motion for expedited proceedings and a motion for a preliminary injunction, which motions plaintif) Tj ET Q q 0 0 0 rg BT 448.06 730.10 Td (fs voluntarily withdrew on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (October 19, 2015. On December 14, 2015, the defendants filed motions to dismiss the consolidated amended complaint. On ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (April 1, 2016, the court consolidated the Mills action into the consolidated action. On ) Tj ET Q q 0 0 0 rg BT 396.60 706.10 Td (April 18, 2016, the court dismissed the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (consolidated action as moot, set a briefing schedule for plaintif) Tj ET Q q 0 0 0 rg BT 301.41 694.10 Td (fs) Tj ET Q q 0 0 0 rg BT 311.22 694.10 Td ( application for an award of attorneys) Tj ET Q q 0 0 0 rg BT 463.75 694.10 Td ( fees and reimbursement ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (of expenses, and scheduled a hearing on plaintif) Tj ET Q q 0 0 0 rg BT 241.98 682.10 Td (fs) Tj ET Q q 0 0 0 rg BT 251.79 682.10 Td ( fee and expense application for June 28, 2016. On ) Tj ET Q q 0 0 0 rg BT 459.23 682.10 Td (April 27, 2016, plaintif) Tj ET Q q 0 0 0 rg BT 551.54 682.10 Td (fs ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (filed a petition for an award of attorneys) Tj ET Q q 0 0 0 rg BT 213.92 670.10 Td ( fees and expenses, requesting an aggregate fee and expense award of at least ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.16 670.10 Td ($1.7 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.89 658.10 Td (. On June 8, 2016, defendants filed their opposition to the petition. ) Tj ET Q q 0 0 0 rg BT 349.13 658.10 Td (After negotiations, the parties agreed in principle to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (resolve the petition for a payment of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 198.01 646.10 Td ($250,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 235.51 646.10 Td ( to plaintif) Tj ET Q q 0 0 0 rg BT 276.99 646.10 Td (fs) Tj ET Q q 0 0 0 rg BT 286.80 646.10 Td ( counsel by the Company) Tj ET Q q 0 0 0 rg BT 387.80 646.10 Td (. On July 29, 2016, the court entered a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (proposed order submitted by the parties closing the consolidated action for all purposes. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.36 634.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 613.10 Td (Mer) Tj ET Q q 0 0 0 rg BT 66.29 613.10 Td (ger) Tj ET Q q 0 0 0 rg BT 79.42 613.10 Td (-r) Tj ET Q q 0 0 0 rg BT 86.27 613.10 Td (elated ) Tj ET Q q 0 0 0 rg BT 113.02 613.10 Td (Appraisal demands) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 190.52 613.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 592.10 Td (Between November 12, 2015 and December 10, 2015, in connection with the then-proposed Mer) Tj ET Q q 0 0 0 rg BT 438.05 592.10 Td (ger) Tj ET Q q 0 0 0 rg BT 450.42 592.10 Td (, ) Tj ET Q q 0 0 0 rg BT 455.23 592.10 Td (T) Tj ET Q q 0 0 0 rg BT 460.64 592.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 486.85 592.10 Td (W) Tj ET Q q 0 0 0 rg BT 495.48 592.10 Td (atson received ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 580.10 Td (demands for appraisal under Section 262 of the Delaware General Corporation Law on behalf of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.47 580.10 Td (ten) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.69 580.10 Td ( purported beneficial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 568.10 Td (owners of an aggregate of approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 216.60 568.10 Td (2.4%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 237.43 568.10 Td ( of the shares of ) Tj ET Q q 0 0 0 rg BT 303.62 568.10 Td (T) Tj ET Q q 0 0 0 rg BT 309.03 568.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 335.23 568.10 Td (W) Tj ET Q q 0 0 0 rg BT 343.87 568.10 Td (atson common stock outstanding at the time of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 556.10 Td (Mer) Tj ET Q q 0 0 0 rg BT 66.48 556.10 Td (ger) Tj ET Q q 0 0 0 rg BT 78.70 556.10 Td (.Between March 3, 2016 and March 23, 2016, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 267.82 556.10 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.80 556.10 Td ( appraisal petitions were filed in the Court of Chancery for the State ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 544.10 Td (of Delaware on behalf of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 152.45 544.10 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 172.44 544.10 Td ( purported beneficial owners of an aggregate of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.58 544.10 Td (1,354,338) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.58 544.10 Td ( shares of ) Tj ET Q q 0 0 0 rg BT 445.21 544.10 Td (T) Tj ET Q q 0 0 0 rg BT 450.63 544.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 476.83 544.10 Td (W) Tj ET Q q 0 0 0 rg BT 485.46 544.10 Td (atson common ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 532.10 Td (stock, captioned Rangeley Capital LLC v) Tj ET Q q 0 0 0 rg BT 214.86 532.10 Td (. ) Tj ET Q q 0 0 0 rg BT 219.68 532.10 Td (T) Tj ET Q q 0 0 0 rg BT 225.09 532.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 251.29 532.10 Td (W) Tj ET Q q 0 0 0 rg BT 259.93 532.10 Td (atson & Co., C.A. No. 12063-CB, Merion Capital L.P) Tj ET Q q 0 0 0 rg BT 474.65 532.10 Td (. v) Tj ET Q q 0 0 0 rg BT 484.00 532.10 Td (. ) Tj ET Q q 0 0 0 rg BT 488.82 532.10 Td (T) Tj ET Q q 0 0 0 rg BT 494.23 532.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 520.43 532.10 Td (W) Tj ET Q q 0 0 0 rg BT 529.07 532.10 Td (atson & ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 520.10 Td (Co., C.A. No. 12064-CB, and College Retirement Equities Fund v) Tj ET Q q 0 0 0 rg BT 314.61 520.10 Td (. ) Tj ET Q q 0 0 0 rg BT 319.43 520.10 Td (T) Tj ET Q q 0 0 0 rg BT 324.84 520.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 351.04 520.10 Td (W) Tj ET Q q 0 0 0 rg BT 359.68 520.10 Td (atson & Co., C.A. No. 12126-CB. ) Tj ET Q q 0 0 0 rg BT 500.34 520.10 Td (The appraisal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 508.10 Td (petitions seek, among other things, a determination of the fair value of the appraisal petitioners) Tj ET Q q 0 0 0 rg BT 431.92 508.10 Td ( shares at the time of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 496.10 Td (Mer) Tj ET Q q 0 0 0 rg BT 66.48 496.10 Td (ger; an order that ) Tj ET Q q 0 0 0 rg BT 137.38 496.10 Td (T) Tj ET Q q 0 0 0 rg BT 142.79 496.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 168.99 496.10 Td (W) Tj ET Q q 0 0 0 rg BT 177.63 496.10 Td (atson pay that value to the appraisal petitioners, together with interest at the statutory rate; and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 484.10 Td (an award of costs, attorneys) Tj ET Q q 0 0 0 rg BT 163.94 484.10 Td ( fees, and other expenses. ) Tj ET Q q 0 0 0 rg BT 268.44 484.10 Td (T) Tj ET Q q 0 0 0 rg BT 273.85 484.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 300.05 484.10 Td (W) Tj ET Q q 0 0 0 rg BT 308.69 484.10 Td (atson answered the appraisal petitions between March 24, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 472.10 Td (2016 and ) Tj ET Q q 0 0 0 rg BT 88.89 472.10 Td (April 18, 2016. On May 9, 2016, the court consolidated the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.57 472.10 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.55 472.10 Td ( pending appraisal proceedings under the caption In ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 460.10 Td (re ) Tj ET Q q 0 0 0 rg BT 59.72 460.10 Td (Appraisal of ) Tj ET Q q 0 0 0 rg BT 111.74 460.10 Td (T) Tj ET Q q 0 0 0 rg BT 117.15 460.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 143.35 460.10 Td (W) Tj ET Q q 0 0 0 rg BT 151.99 460.10 Td (atson & Co., Consolidated C.A. No. 12064-CB. Based on all of the information to date, the Company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 448.10 Td (is currently unable to estimate what the court would determine, following trial, to be the fair value of the appraisal petitioners; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 436.10 Td (shares. It is possible that the court could determine that fair value was the same as, less than or greater than the value received ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 424.10 Td (by shareholders in the Mer) Tj ET Q q 0 0 0 rg BT 157.01 424.10 Td (ger) Tj ET Q q 0 0 0 rg BT 169.23 424.10 Td (. ) Tj ET Q q 0 0 0 rg BT 174.05 424.10 Td (Therefore we are unable to provide an estimate of the reasonably possible loss or range of loss ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 412.10 Td (as to such value. ) Tj ET Q q 0 0 0 rg BT 120.91 412.10 Td (The Company intends to vigorously defend against the appraisal proceedings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.45 412.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.95 412.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 391.10 Td (Stanfor) Tj ET Q q 0 0 0 rg BT 79.08 391.10 Td (d Financial Gr) Tj ET Q q 0 0 0 rg BT 138.70 391.10 Td (oup ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 156.20 391.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.10 Td (The Company has been named as a defendant in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.77 370.10 Td (15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 255.77 370.10 Td ( similar lawsuits relating to the collapse of ) Tj ET Q q 0 0 0 rg BT 427.77 370.10 Td (The Stanford Financial Group ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.10 Td (\(Stanford\), for which ) Tj ET Q q 0 0 0 rg BT 143.68 358.10 Td (W) Tj ET Q q 0 0 0 rg BT 152.71 358.10 Td (illis of Colorado, Inc. acted as broker of record on certain lines of insurance. ) Tj ET Q q 0 0 0 rg BT 460.48 358.10 Td (The complaints in these ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.10 Td (actions generally allege that the defendants actively and materially aided Stanford) Tj ET Q q 0 0 0 rg BT 380.42 346.10 Td (s alleged fraud by providing Stanford with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.10 Td (certain letters regarding coverage that they knew would be used to help retain or attract actual or prospective Stanford client ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.10 Td (investors. ) Tj ET Q q 0 0 0 rg BT 90.93 322.10 Td (The complaints further allege that these letters, which contain statements about Stanford and the insurance policies ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.10 Td (that the defendants placed for Stanford, contained untruths and omitted material facts and were drafted in this manner to help ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.10 Td (Stanford promote and sell its allegedly fraudulent certificates of deposit.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.36 298.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 277.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.05 277.10 Td (15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.05 277.10 Td ( actions are as follows:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.69 277.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 68.00 256.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 86.00 256.10 Td (T) Tj ET Q q 0 0 0 rg BT 91.01 256.10 Td (r) Tj ET Q q 0 0 0 rg BT 94.53 256.10 Td (oice, et al. v) Tj ET Q q 0 0 0 rg BT 142.38 256.10 Td (. W) Tj ET Q q 0 0 0 rg BT 155.16 256.10 Td (illis of Colorado, Inc., et al.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 266.54 256.10 Td (, C.A. No.3:9-CV) Tj ET Q q 0 0 0 rg BT 339.24 256.10 Td (-1274-N, was filed on July2, 2009 in the U.S.District ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 244.10 Td (Court for the Northern District of ) Tj ET Q q 0 0 0 rg BT 221.90 244.10 Td (T) Tj ET Q q 0 0 0 rg BT 227.31 244.10 Td (exas against ) Tj ET Q q 0 0 0 rg BT 278.22 244.10 Td (W) Tj ET Q q 0 0 0 rg BT 287.26 244.10 Td (illis Group Holdings plc, ) Tj ET Q q 0 0 0 rg BT 389.02 244.10 Td (W) Tj ET Q q 0 0 0 rg BT 398.06 244.10 Td (illis of Colorado, Inc. and a ) Tj ET Q q 0 0 0 rg BT 510.08 244.10 Td (W) Tj ET Q q 0 0 0 rg BT 519.12 244.10 Td (illis ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 232.10 Td (associate, among others. On ) Tj ET Q q 0 0 0 rg BT 200.42 232.10 Td (April1, 201) Tj ET Q q 0 0 0 rg BT 248.66 232.10 Td (1, plaintif) Tj ET Q q 0 0 0 rg BT 287.36 232.10 Td (fs filed the operative ) Tj ET Q q 0 0 0 rg BT 372.14 232.10 Td (Third ) Tj ET Q q 0 0 0 rg BT 396.31 232.10 Td (Amended Class) Tj ET Q q 0 0 0 rg BT 461.30 232.10 Td (Action Complaint ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 220.10 Td (individually and on behalf of a putative, worldwide class of Stanford investors, adding ) Tj ET Q q 0 0 0 rg BT 434.35 220.10 Td (W) Tj ET Q q 0 0 0 rg BT 443.39 220.10 Td (illis Limited as a defendant ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 208.10 Td (and alleging claims under ) Tj ET Q q 0 0 0 rg BT 191.34 208.10 Td (T) Tj ET Q q 0 0 0 rg BT 196.75 208.10 Td (exas statutory and common law and seeking damages in excess of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.07 208.10 Td ($1 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.68 208.10 Td (,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.18 208.10 Td ( punitive ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 196.10 Td (damages and costs. On May2, 201) Tj ET Q q 0 0 0 rg BT 225.60 196.10 Td (1, the defendants filed motions to dismiss the ) Tj ET Q q 0 0 0 rg BT 409.01 196.10 Td (Third ) Tj ET Q q 0 0 0 rg BT 433.18 196.10 Td (Amended Class) Tj ET Q q 0 0 0 rg BT 498.17 196.10 Td (Action ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 184.10 Td (Complaint, ar) Tj ET Q q 0 0 0 rg BT 140.81 184.10 Td (guing, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 168.59 184.10 Td (inter alia) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 205.53 184.10 Td (, that the plaintif) Tj ET Q q 0 0 0 rg BT 271.44 184.10 Td (fs) Tj ET Q q 0 0 0 rg BT 281.25 184.10 Td ( claims are precluded by the Securities Litigation Uniform Standards ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 172.10 Td (Act of 1998 \(SLUSA) Tj ET Q q 0 0 0 rg BT 173.50 172.10 Td (\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 182.66 172.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 151.10 Td (On May10, 201) Tj ET Q q 0 0 0 rg BT 151.18 151.10 Td (1, the court presiding over the Stanford-related actions in the Northern District of ) Tj ET Q q 0 0 0 rg BT 478.68 151.10 Td (T) Tj ET Q q 0 0 0 rg BT 484.09 151.10 Td (exas entered an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 139.10 Td (order providing that it would consider the applicability of SLUSA) Tj ET Q q 0 0 0 rg BT 349.57 139.10 Td ( to the Stanford-related actions based on the decision ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 127.10 Td (in a separate Stanford action not involving a ) Tj ET Q q 0 0 0 rg BT 265.21 127.10 Td (W) Tj ET Q q 0 0 0 rg BT 274.25 127.10 Td (illis entity) Tj ET Q q 0 0 0 rg BT 313.88 127.10 Td (, Rolandv) Tj ET Q q 0 0 0 rg BT 354.62 127.10 Td (. Green, Civil ) Tj ET Q q 0 0 0 rg BT 411.00 127.10 Td (Action No.3:10-CV) Tj ET Q q 0 0 0 rg BT 492.02 127.10 Td (-0224-N ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 115.10 Td (\(Roland\). On ) Tj ET Q q 0 0 0 rg BT 147.38 115.10 Td (August31, 201) Tj ET Q q 0 0 0 rg BT 208.40 115.10 Td (1, the court issued its decision in Roland, dismissing that action with prejudice under ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 103.10 Td (SLUSA.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.17 103.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 82.10 Td (On October27, 201) Tj ET Q q 0 0 0 rg BT 165.06 82.10 Td (1, the court in ) Tj ET Q q 0 0 0 rg BT 222.92 82.10 Td (T) Tj ET Q q 0 0 0 rg BT 228.68 82.10 Td (roice entered an order \(i\)dismissing with prejudice those claims asserted in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 70.10 Td (Third ) Tj ET Q q 0 0 0 rg BT 110.17 70.10 Td (Amended Class) Tj ET Q q 0 0 0 rg BT 175.16 70.10 Td (Action Complaint on a class basis on the grounds set forth in the Roland decision discussed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 58.10 Td (above and \(ii\)dismissing without prejudice those claims asserted in the ) Tj ET Q q 0 0 0 rg BT 373.81 58.10 Td (Third ) Tj ET Q q 0 0 0 rg BT 397.98 58.10 Td (Amended Class) Tj ET Q q 0 0 0 rg BT 462.97 58.10 Td (Action Complaint on an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 46.10 Td (individual basis. ) Tj ET Q q 0 0 0 rg BT 153.50 46.10 Td (Also on October27, 201) Tj ET Q q 0 0 0 rg BT 251.73 46.10 Td (1, the court entered a final judgment in the action.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.38 46.10 Td ( ) Tj ET Q endstream endobj 247 0 obj <> endobj 248 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.50 31.60 Td (123) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 742.10 Td (On October28, 201) Tj ET Q q 0 0 0 rg BT 165.06 742.10 Td (1, the plaintif) Tj ET Q q 0 0 0 rg BT 218.48 742.10 Td (fs in ) Tj ET Q q 0 0 0 rg BT 238.29 742.10 Td (T) Tj ET Q q 0 0 0 rg BT 244.05 742.10 Td (roice filed a notice of appeal to the U.S.Court of ) Tj ET Q q 0 0 0 rg BT 441.49 742.10 Td (Appeals for the Fifth Circuit. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 730.10 Td (Subsequently) Tj ET Q q 0 0 0 rg BT 139.24 730.10 Td (, ) Tj ET Q q 0 0 0 rg BT 144.06 730.10 Td (T) Tj ET Q q 0 0 0 rg BT 149.81 730.10 Td (roice, Roland and a third action captioned ) Tj ET Q q 0 0 0 rg BT 319.57 730.10 Td (T) Tj ET Q q 0 0 0 rg BT 325.33 730.10 Td (roice, et al.v) Tj ET Q q 0 0 0 rg BT 376.60 730.10 Td (. Proskauer Rose LLP) Tj ET Q q 0 0 0 rg BT 463.26 730.10 Td (, Civil ) Tj ET Q q 0 0 0 rg BT 490.21 730.10 Td (Action No.3:09-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 718.10 Td (CV) Tj ET Q q 0 0 0 rg BT 98.97 718.10 Td (-01600-N, which also was dismissed on the grounds set forth in the Roland decision discussed above and on appeal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 706.10 Td (to the U.S.Court of ) Tj ET Q q 0 0 0 rg BT 166.83 706.10 Td (Appeals for the Fifth Circuit, were consolidated for purposes of briefing and oral ar) Tj ET Q q 0 0 0 rg BT 500.44 706.10 Td (gument. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 694.10 Td (Following the completion of briefing and oral ar) Tj ET Q q 0 0 0 rg BT 279.38 694.10 Td (gument, on March 19, 2012, the Fifth Circuit reversed and remanded ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 682.10 Td (the actions. On ) Tj ET Q q 0 0 0 rg BT 148.21 682.10 Td (April 2, 2012, the defendants-appellees filed petitions for rehearing en banc.On ) Tj ET Q q 0 0 0 rg BT 470.05 682.10 Td (April 19, 2012, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 670.10 Td (petitions for rehearing en banc were denied. On July 18, 2012, defendants-appellees filed a petition for writ of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 658.10 Td (certiorari with the United States Supreme Court regarding the Fifth Circuit) Tj ET Q q 0 0 0 rg BT 387.60 658.10 Td (s reversal in ) Tj ET Q q 0 0 0 rg BT 438.23 658.10 Td (T) Tj ET Q q 0 0 0 rg BT 443.99 658.10 Td (roice. On January 18, 2013, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 646.10 Td (the Supreme Court granted our petition. Opening briefs were filed on May 3, 2013 and the Supreme Court heard oral ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 634.10 Td (ar) Tj ET Q q 0 0 0 rg BT 93.59 634.10 Td (gument on October 7, 2013. On February 26, 2014, the Supreme Court af) Tj ET Q q 0 0 0 rg BT 387.24 634.10 Td (firmed the Fifth Circuit) Tj ET Q q 0 0 0 rg BT 483.61 634.10 Td (s decision.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.83 634.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 613.10 Td (On March 19, 2014, the plaintif) Tj ET Q q 0 0 0 rg BT 212.74 613.10 Td (fs in ) Tj ET Q q 0 0 0 rg BT 232.56 613.10 Td (T) Tj ET Q q 0 0 0 rg BT 238.31 613.10 Td (roice filed a Motion to Defer Resolution of Motions to Dismiss, to Compel Rule ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 601.10 Td (26\(f\) Conference and For Entry of Scheduling Order) Tj ET Q q 0 0 0 rg BT 296.21 601.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.71 601.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 580.10 Td (On March 25, 2014, the parties in ) Tj ET Q q 0 0 0 rg BT 223.29 580.10 Td (T) Tj ET Q q 0 0 0 rg BT 229.05 580.10 Td (roice and the Janvey) Tj ET Q q 0 0 0 rg BT 310.31 580.10 Td (, et al. v) Tj ET Q q 0 0 0 rg BT 341.59 580.10 Td (. ) Tj ET Q q 0 0 0 rg BT 346.41 580.10 Td (W) Tj ET Q q 0 0 0 rg BT 355.45 580.10 Td (illis of Colorado, Inc., et al. action discussed below ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 568.10 Td (stipulated to the consolidation of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 234.31 568.10 Td (two) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.31 568.10 Td ( actions for pre-trial purposes under Rule 42\(a\) of the Federal Rules of Civil ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 556.10 Td (Procedure. On March 28, 2014, the Court so ordered) Tj ET Q q 0 0 0 rg BT 302.70 556.10 Td ( that stipulation and, thus, consolidated ) Tj ET Q q 0 0 0 rg BT 461.39 556.10 Td (T) Tj ET Q q 0 0 0 rg BT 467.14 556.10 Td (roice and Janvey for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 544.10 Td (pre-trial purposes under Rule 42\(a\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 229.01 544.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 523.10 Td (On September 16, 2014, the court \(a\) denied the plaintif) Tj ET Q q 0 0 0 rg BT 309.92 523.10 Td (fs) Tj ET Q q 0 0 0 rg BT 319.73 523.10 Td ( request to defer resolution of the defendants) Tj ET Q q 0 0 0 rg BT 500.87 523.10 Td ( motions to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 511.10 Td (dismiss, but granted the plaintif) Tj ET Q q 0 0 0 rg BT 212.19 511.10 Td (fs) Tj ET Q q 0 0 0 rg BT 222.00 511.10 Td ( request to enter a scheduling order; \(b\) requested the submission of supplemental ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 499.10 Td (briefing by all parties on the defendants) Tj ET Q q 0 0 0 rg BT 247.43 499.10 Td ( motions to dismiss, which the parties submitted on September 30, 2014; and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 487.10 Td (\(c\) entered an order setting a schedule for briefing and discovery regarding plaintif) Tj ET Q q 0 0 0 rg BT 416.80 487.10 Td (fs) Tj ET Q q 0 0 0 rg BT 426.61 487.10 Td ( motion for class certification, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 475.10 Td (which schedule, among other things, provided for the submission of the plaintif) Tj ET Q q 0 0 0 rg BT 403.82 475.10 Td (fs) Tj ET Q q 0 0 0 rg BT 413.63 475.10 Td ( motion for class certification ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 463.10 Td (\(following the completion of briefing and discovery\) on ) Tj ET Q q 0 0 0 rg BT 311.50 463.10 Td (April 20, 2015.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.61 463.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 442.10 Td (On December 15, 2014, the court granted in part and denied in part the defendants) Tj ET Q q 0 0 0 rg BT 417.92 442.10 Td ( motions to dismiss. On January 30, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 430.10 Td (2015, the defendants except ) Tj ET Q q 0 0 0 rg BT 199.95 430.10 Td (W) Tj ET Q q 0 0 0 rg BT 208.98 430.10 Td (illis Group Holdings plc answered the ) Tj ET Q q 0 0 0 rg BT 363.22 430.10 Td (Third ) Tj ET Q q 0 0 0 rg BT 387.39 430.10 Td (Amended Class ) Tj ET Q q 0 0 0 rg BT 452.38 430.10 Td (Action Complaint.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.82 430.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 409.10 Td (On ) Tj ET Q q 0 0 0 rg BT 100.17 409.10 Td (April 20, 2015, the plaintif) Tj ET Q q 0 0 0 rg BT 207.20 409.10 Td (fs filed their motion for class certification, the defendants filed their opposition to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 397.10 Td (plaintif) Tj ET Q q 0 0 0 rg BT 114.70 397.10 Td (fs) Tj ET Q q 0 0 0 rg BT 124.51 397.10 Td ( motion, and the plaintif) Tj ET Q q 0 0 0 rg BT 220.70 397.10 Td (fs filed their reply in further support of the motion. Pursuant to an agreed stipulation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 385.10 Td (also filed with the court on ) Tj ET Q q 0 0 0 rg BT 195.42 385.10 Td (April 20, 2015, the defendants on June 4, 2015 filed sur) Tj ET Q q 0 0 0 rg BT 418.24 385.10 Td (-replies in further opposition to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 373.10 Td (motion. ) Tj ET Q q 0 0 0 rg BT 119.15 373.10 Td (The Court has not yet scheduled a hearing on the motion.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.27 373.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 352.10 Td (On June 19, 2015, ) Tj ET Q q 0 0 0 rg BT 161.37 352.10 Td (W) Tj ET Q q 0 0 0 rg BT 170.41 352.10 Td (illis Group Holdings plc filed a motion to dismiss the complaint for lack of personal jurisdiction. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 340.10 Td (On November 17, 2015, ) Tj ET Q q 0 0 0 rg BT 185.25 340.10 Td (W) Tj ET Q q 0 0 0 rg BT 194.29 340.10 Td (illis Group Holdings plc withdrew the motion.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.55 340.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 319.10 Td (On March 31, 2016, the parties in the ) Tj ET Q q 0 0 0 rg BT 238.01 319.10 Td (T) Tj ET Q q 0 0 0 rg BT 243.76 319.10 Td (roice and Janvey actions entered into a settlement in principle that is described ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 307.10 Td (in more detail below) Tj ET Q q 0 0 0 rg BT 167.83 307.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 170.33 307.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 68.00 286.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 86.00 286.10 Td (Ranniv) Tj ET Q q 0 0 0 rg BT 116.08 286.10 Td (. W) Tj ET Q q 0 0 0 rg BT 128.86 286.10 Td (illis of Colorado, Inc., et al.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.25 286.10 Td (, C.A. No.9-22085, was filed on July17, 2009 against ) Tj ET Q q 0 0 0 rg BT 460.88 286.10 Td (W) Tj ET Q q 0 0 0 rg BT 469.92 286.10 Td (illis Group Holdings ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 274.10 Td (plc and ) Tj ET Q q 0 0 0 rg BT 117.47 274.10 Td (W) Tj ET Q q 0 0 0 rg BT 126.51 274.10 Td (illis of Colorado, Inc. in the U.S.District Court for the Southern District of Florida. ) Tj ET Q q 0 0 0 rg BT 462.40 274.10 Td (The complaint was filed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 262.10 Td (on behalf of a putative class of ) Tj ET Q q 0 0 0 rg BT 211.05 262.10 Td (V) Tj ET Q q 0 0 0 rg BT 217.17 262.10 Td (enezuelan and other South ) Tj ET Q q 0 0 0 rg BT 324.91 262.10 Td (American Stanford investors and alleges claims under ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 250.10 Td (Section10\(b\) of the Securities Exchange ) Tj ET Q q 0 0 0 rg BT 251.51 250.10 Td (Act of 1934 \(and Rule10b-5 thereunder\) and Florida statutory and common ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 238.10 Td (law and seeks damages in an amount to be determined at trial. On October6, 2009, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 421.18 238.10 Td (Ranni) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.07 238.10 Td ( was transferred, for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 226.10 Td (consolidation or coordination with other Stanford-related actions \(including ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 391.48 226.10 Td (T) Tj ET Q q 0 0 0 rg BT 396.49 226.10 Td (r) Tj ET Q q 0 0 0 rg BT 400.01 226.10 Td (oice) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.66 226.10 Td (\), to the Northern District of ) Tj ET Q q 0 0 0 rg BT 531.73 226.10 Td (T) Tj ET Q q 0 0 0 rg BT 537.14 226.10 Td (exas ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 214.10 Td (by the U.S.Judicial Panel on Multidistrict Litigation \(the JPML) Tj ET Q q 0 0 0 rg BT 343.67 214.10 Td (\). ) Tj ET Q q 0 0 0 rg BT 355.15 214.10 Td (The defendants have not yet responded to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 202.10 Td (complaint in ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 138.77 202.10 Td (Ranni) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.66 202.10 Td (. On ) Tj ET Q q 0 0 0 rg BT 181.83 202.10 Td (August 26, 2014, the plaintif) Tj ET Q q 0 0 0 rg BT 296.63 202.10 Td (f filed a notice of voluntary dismissal of the action without ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 190.10 Td (prejudice.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 125.70 190.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 169.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 86.00 169.10 Td (Canabal, et al. v) Tj ET Q q 0 0 0 rg BT 151.64 169.10 Td (. W) Tj ET Q q 0 0 0 rg BT 164.42 169.10 Td (illis of Colorado, Inc., et al.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.80 169.10 Td (, C.A. No.3:9-CV) Tj ET Q q 0 0 0 rg BT 348.50 169.10 Td (-1474-D, was filed on ) Tj ET Q q 0 0 0 rg BT 438.21 169.10 Td (August6, 2009 against ) Tj ET Q q 0 0 0 rg BT 532.74 169.10 Td (W) Tj ET Q q 0 0 0 rg BT 541.78 169.10 Td (illis ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 157.10 Td (Group Holdings plc, ) Tj ET Q q 0 0 0 rg BT 170.26 157.10 Td (W) Tj ET Q q 0 0 0 rg BT 179.30 157.10 Td (illis of Colorado, Inc. and the same ) Tj ET Q q 0 0 0 rg BT 322.14 157.10 Td (W) Tj ET Q q 0 0 0 rg BT 331.18 157.10 Td (illis associate named as a defendant in ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 486.40 157.10 Td (T) Tj ET Q q 0 0 0 rg BT 491.41 157.10 Td (r) Tj ET Q q 0 0 0 rg BT 494.93 157.10 Td (oice) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.59 157.10 Td (, among ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 145.10 Td (others, also in the Northern District of ) Tj ET Q q 0 0 0 rg BT 240.79 145.10 Td (T) Tj ET Q q 0 0 0 rg BT 246.20 145.10 Td (exas. ) Tj ET Q q 0 0 0 rg BT 268.78 145.10 Td (The complaint was filed individually and on behalf of a putative class of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 133.10 Td (V) Tj ET Q q 0 0 0 rg BT 92.11 133.10 Td (enezuelan Stanford investors, alleged claims under ) Tj ET Q q 0 0 0 rg BT 297.69 133.10 Td (T) Tj ET Q q 0 0 0 rg BT 303.10 133.10 Td (exas statutory and common law and sought damages in excess ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 121.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 96.83 121.10 Td ($1 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.44 121.10 Td (, punitive damages, attorneys) Tj ET Q q 0 0 0 rg BT 254.95 121.10 Td ( fees and costs. On December18, 2009, the parties in ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 470.44 121.10 Td (T) Tj ET Q q 0 0 0 rg BT 475.45 121.10 Td (r) Tj ET Q q 0 0 0 rg BT 478.97 121.10 Td (oice) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.62 121.10 Td ( and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 515.06 121.10 Td (Canabal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.51 121.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 109.10 Td (stipulated to the consolidation of those actions \(under the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 317.34 109.10 Td (T) Tj ET Q q 0 0 0 rg BT 322.35 109.10 Td (r) Tj ET Q q 0 0 0 rg BT 325.87 109.10 Td (oice) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.52 109.10 Td ( civil action number\), and, on December31, 2009, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 97.10 Td (plaintif) Tj ET Q q 0 0 0 rg BT 114.70 97.10 Td (fs in ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 134.70 97.10 Td (Canabal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.15 97.10 Td ( filed a notice of dismissal, dismissing the action without prejudice.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.10 97.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 76.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 86.00 76.10 Td (Rupert, et al. v) Tj ET Q q 0 0 0 rg BT 144.41 76.10 Td (. W) Tj ET Q q 0 0 0 rg BT 157.19 76.10 Td (inter) Tj ET Q q 0 0 0 rg BT 174.96 76.10 Td (, et al.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 199.96 76.10 Td (, Case No.2009C1) Tj ET Q q 0 0 0 rg BT 275.42 76.10 Td (15137, was filed on September14, 2009 on behalf of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.38 76.10 Td (97) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.38 76.10 Td ( Stanford ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 64.10 Td (investors against ) Tj ET Q q 0 0 0 rg BT 155.25 64.10 Td (W) Tj ET Q q 0 0 0 rg BT 164.29 64.10 Td (illis Group Holdings plc, ) Tj ET Q q 0 0 0 rg BT 266.05 64.10 Td (W) Tj ET Q q 0 0 0 rg BT 275.09 64.10 Td (illis of Colorado, Inc. and the same ) Tj ET Q q 0 0 0 rg BT 417.93 64.10 Td (W) Tj ET Q q 0 0 0 rg BT 426.97 64.10 Td (illis associate, among others, in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 52.10 Td (T) Tj ET Q q 0 0 0 rg BT 91.41 52.10 Td (exas state court \(Bexar County\). ) Tj ET Q q 0 0 0 rg BT 222.86 52.10 Td (The complaint alleges claims under the Securities ) Tj ET Q q 0 0 0 rg BT 423.63 52.10 Td (Act of 1933, ) Tj ET Q q 0 0 0 rg BT 476.21 52.10 Td (T) Tj ET Q q 0 0 0 rg BT 481.63 52.10 Td (exas and Colorado ) Tj ET Q endstream endobj 249 0 obj <> endobj 250 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.50 31.60 Td (124) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 742.10 Td (statutory law and ) Tj ET Q q 0 0 0 rg BT 157.19 742.10 Td (T) Tj ET Q q 0 0 0 rg BT 162.60 742.10 Td (exas common law and seeks special, consequential and treble damages of more than ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.93 742.10 Td ($300 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.32 742.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 730.10 Td (attorneys) Tj ET Q q 0 0 0 rg BT 125.24 730.10 Td ( fees and costs. On October20, 2009, certain defendants, including ) Tj ET Q q 0 0 0 rg BT 395.82 730.10 Td (W) Tj ET Q q 0 0 0 rg BT 404.86 730.10 Td (illis of Colorado, Inc., \(i\)removed ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 86.00 718.10 Td (Rupert) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 113.22 718.10 Td ( to the U.S.District Court for the ) Tj ET Q q 0 0 0 rg BT 247.46 718.10 Td (W) Tj ET Q q 0 0 0 rg BT 256.10 718.10 Td (estern District of ) Tj ET Q q 0 0 0 rg BT 325.62 718.10 Td (T) Tj ET Q q 0 0 0 rg BT 331.03 718.10 Td (exas, \(ii\)notified the JPML) Tj ET Q q 0 0 0 rg BT 440.92 718.10 Td ( of the pendency of this ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 706.10 Td (related action and \(iii\)moved to stay the action pending a determination by the JPML) Tj ET Q q 0 0 0 rg BT 428.31 706.10 Td ( as to whether it should be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 694.10 Td (transferred to the Northern District of ) Tj ET Q q 0 0 0 rg BT 238.54 694.10 Td (T) Tj ET Q q 0 0 0 rg BT 243.95 694.10 Td (exas for consolidation or coordination with the other Stanford-related actions. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 682.10 Td (On ) Tj ET Q q 0 0 0 rg BT 100.17 682.10 Td (April1, 2010, the JPML) Tj ET Q q 0 0 0 rg BT 197.58 682.10 Td ( issued a final transfer order for the transfer of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 384.72 682.10 Td (Rupert) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.94 682.10 Td ( to the Northern District of ) Tj ET Q q 0 0 0 rg BT 521.18 682.10 Td (T) Tj ET Q q 0 0 0 rg BT 526.59 682.10 Td (exas. On ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 670.10 Td (January24, 2012, the court remanded ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 239.29 670.10 Td (Rupert) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 266.50 670.10 Td ( to ) Tj ET Q q 0 0 0 rg BT 279.10 670.10 Td (T) Tj ET Q q 0 0 0 rg BT 284.51 670.10 Td (exas state court \(Bexar County\), but stayed the action until further ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 658.10 Td (order of the court. On ) Tj ET Q q 0 0 0 rg BT 174.86 658.10 Td (August 13, 2012, the plaintif) Tj ET Q q 0 0 0 rg BT 289.67 658.10 Td (fs filed a motion to lift the stay) Tj ET Q q 0 0 0 rg BT 412.61 658.10 Td (, which motion was denied by the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 646.10 Td (court on September 16, 2014. On October 10, 2014, the plaintif) Tj ET Q q 0 0 0 rg BT 339.66 646.10 Td (fs appealed the court) Tj ET Q q 0 0 0 rg BT 425.45 646.10 Td (s denial of their motion to lift the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 634.10 Td (stay to the U.S. Court of ) Tj ET Q q 0 0 0 rg BT 185.44 634.10 Td (Appeals for the Fifth Circuit. On January 5, 2015, the Fifth Circuit consolidated the appeal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 622.10 Td (with the appeal in the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 174.58 622.10 Td (Rishmague, et ano. v) Tj ET Q q 0 0 0 rg BT 257.44 622.10 Td (. W) Tj ET Q q 0 0 0 rg BT 270.21 622.10 Td (inter) Tj ET Q q 0 0 0 rg BT 287.99 622.10 Td (, et al.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.99 622.10 Td ( action discussed below) Tj ET Q q 0 0 0 rg BT 407.04 622.10 Td (, and the consolidated appeal, was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 610.10 Td (fully briefed as of March 24, 2015. Oral ar) Tj ET Q q 0 0 0 rg BT 256.32 610.10 Td (gument on the consolidated appeal was held on September 2, 2015. On ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 598.10 Td (September 16, 2015, the Fifth Circuit af) Tj ET Q q 0 0 0 rg BT 245.79 598.10 Td (firmed. ) Tj ET Q q 0 0 0 rg BT 277.26 598.10 Td (The defendants have not yet responded to the complaint in ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 513.86 598.10 Td (Rupert) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.08 598.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.58 598.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 577.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 86.00 577.10 Td (Casanova, et al. v) Tj ET Q q 0 0 0 rg BT 157.19 577.10 Td (. W) Tj ET Q q 0 0 0 rg BT 169.97 577.10 Td (illis of Colorado, Inc., et al.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.36 577.10 Td (, C.A. No.3:10-CV) Tj ET Q q 0 0 0 rg BT 359.05 577.10 Td (-1862-O, was filed on September16, 2010 on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 565.10 Td (behalf of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 124.32 565.10 Td (seven) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 147.08 565.10 Td ( Stanford investors against ) Tj ET Q q 0 0 0 rg BT 255.78 565.10 Td (W) Tj ET Q q 0 0 0 rg BT 264.81 565.10 Td (illis Group Holdings plc, ) Tj ET Q q 0 0 0 rg BT 366.58 565.10 Td (W) Tj ET Q q 0 0 0 rg BT 375.61 565.10 Td (illis Limited, ) Tj ET Q q 0 0 0 rg BT 429.60 565.10 Td (W) Tj ET Q q 0 0 0 rg BT 438.64 565.10 Td (illis of Colorado, Inc. and the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 553.10 Td (same ) Tj ET Q q 0 0 0 rg BT 108.87 553.10 Td (W) Tj ET Q q 0 0 0 rg BT 117.90 553.10 Td (illis associate, among others, also in the Northern District of ) Tj ET Q q 0 0 0 rg BT 361.00 553.10 Td (T) Tj ET Q q 0 0 0 rg BT 366.42 553.10 Td (exas. ) Tj ET Q q 0 0 0 rg BT 389.00 553.10 Td (The complaint alleges claims under ) Tj ET Q q 0 0 0 rg BT 533.50 553.10 Td (T) Tj ET Q q 0 0 0 rg BT 538.91 553.10 Td (exas ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 541.10 Td (statutory and common law and seeks actual damages in excess of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.53 541.10 Td ($5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.92 541.10 Td (, punitive damages, attorneys) Tj ET Q q 0 0 0 rg BT 510.42 541.10 Td ( fees and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 529.10 Td (costs. On February 13, 2015, the parties filed an ) Tj ET Q q 0 0 0 rg BT 280.40 529.10 Td (Agreed Motion for Partial Dismissal pursuant to which they agreed to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 517.10 Td (the dismissal of certain claims pursuant to the motion to dismiss decisions in the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 409.85 517.10 Td (T) Tj ET Q q 0 0 0 rg BT 414.86 517.10 Td (r) Tj ET Q q 0 0 0 rg BT 418.38 517.10 Td (oice) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.03 517.10 Td ( action discussed above and the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 86.00 505.10 Td (Janvey) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 113.75 505.10 Td ( action discussed below) Tj ET Q q 0 0 0 rg BT 207.81 505.10 Td (. ) Tj ET Q q 0 0 0 rg BT 212.25 505.10 Td (Also on February 13, 2015, the defendants except ) Tj ET Q q 0 0 0 rg BT 413.69 505.10 Td (W) Tj ET Q q 0 0 0 rg BT 422.73 505.10 Td (illis Group Holdings plc answered ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 493.10 Td (the complaint in the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 168.20 493.10 Td (Casanova) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 208.20 493.10 Td ( action. On June 19, 2015, ) Tj ET Q q 0 0 0 rg BT 315.51 493.10 Td (W) Tj ET Q q 0 0 0 rg BT 324.54 493.10 Td (illis Group Holdings plc filed a motion to dismiss the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 481.10 Td (complaint for lack of personal jurisdiction. Plaintif) Tj ET Q q 0 0 0 rg BT 288.83 481.10 Td (fs have not opposed the motion.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.59 481.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 460.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 86.00 460.10 Td (Rishmague, et ano. v) Tj ET Q q 0 0 0 rg BT 168.85 460.10 Td (. W) Tj ET Q q 0 0 0 rg BT 181.63 460.10 Td (inter) Tj ET Q q 0 0 0 rg BT 199.41 460.10 Td (, et al.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.40 460.10 Td (, Case No.201) Tj ET Q q 0 0 0 rg BT 283.19 460.10 Td (1CI2585, was filed on March1) Tj ET Q q 0 0 0 rg BT 407.80 460.10 Td (1, 201) Tj ET Q q 0 0 0 rg BT 432.43 460.10 Td (1 on behalf of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.74 460.10 Td (two) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.74 460.10 Td ( Stanford ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 448.10 Td (investors, individually and as representatives of certain trusts, against ) Tj ET Q q 0 0 0 rg BT 366.02 448.10 Td (W) Tj ET Q q 0 0 0 rg BT 375.06 448.10 Td (illis Group Holdings plc, ) Tj ET Q q 0 0 0 rg BT 476.83 448.10 Td (W) Tj ET Q q 0 0 0 rg BT 485.86 448.10 Td (illis of Colorado, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 436.10 Td (Inc., ) Tj ET Q q 0 0 0 rg BT 106.09 436.10 Td (W) Tj ET Q q 0 0 0 rg BT 115.13 436.10 Td (illis of ) Tj ET Q q 0 0 0 rg BT 143.28 436.10 Td (T) Tj ET Q q 0 0 0 rg BT 148.69 436.10 Td (exas, Inc. and the same ) Tj ET Q q 0 0 0 rg BT 243.75 436.10 Td (W) Tj ET Q q 0 0 0 rg BT 252.79 436.10 Td (illis associate, among others, in ) Tj ET Q q 0 0 0 rg BT 380.64 436.10 Td (T) Tj ET Q q 0 0 0 rg BT 386.05 436.10 Td (exas state court \(Bexar County\). ) Tj ET Q q 0 0 0 rg BT 517.49 436.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 424.10 Td (complaint alleges claims under ) Tj ET Q q 0 0 0 rg BT 212.45 424.10 Td (T) Tj ET Q q 0 0 0 rg BT 217.86 424.10 Td (exas and Colorado statutory law and ) Tj ET Q q 0 0 0 rg BT 365.97 424.10 Td (T) Tj ET Q q 0 0 0 rg BT 371.38 424.10 Td (exas common law and seeks special, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 412.10 Td (consequential and treble damages of more than ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 276.76 412.10 Td ($37 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.15 412.10 Td ( and attorneys) Tj ET Q q 0 0 0 rg BT 381.83 412.10 Td ( fees and costs. On ) Tj ET Q q 0 0 0 rg BT 459.04 412.10 Td (April1) Tj ET Q q 0 0 0 rg BT 487.28 412.10 Td (1, 201) Tj ET Q q 0 0 0 rg BT 511.91 412.10 Td (1, certain ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 400.10 Td (defendants, including ) Tj ET Q q 0 0 0 rg BT 174.41 400.10 Td (W) Tj ET Q q 0 0 0 rg BT 183.45 400.10 Td (illis of Colorado, Inc., \(i\)removed ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 323.69 400.10 Td (Rishmague) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.13 400.10 Td ( to the ) Tj ET Q q 0 0 0 rg BT 395.44 400.10 Td (W) Tj ET Q q 0 0 0 rg BT 404.08 400.10 Td (estern District of ) Tj ET Q q 0 0 0 rg BT 473.60 400.10 Td (T) Tj ET Q q 0 0 0 rg BT 479.01 400.10 Td (exas, \(ii\)notified ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 388.10 Td (the JPML) Tj ET Q q 0 0 0 rg BT 124.80 388.10 Td ( of the pendency of this related action and \(iii\)moved to stay the action pending a determination by the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 376.10 Td (JPML) Tj ET Q q 0 0 0 rg BT 110.08 376.10 Td ( as to whether it should be transferred to the Northern District of ) Tj ET Q q 0 0 0 rg BT 370.11 376.10 Td (T) Tj ET Q q 0 0 0 rg BT 375.52 376.10 Td (exas for consolidation or coordination with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 364.10 Td (the other Stanford-related actions. On ) Tj ET Q q 0 0 0 rg BT 238.73 364.10 Td (August8, 201) Tj ET Q q 0 0 0 rg BT 294.75 364.10 Td (1, the JPML) Tj ET Q q 0 0 0 rg BT 343.55 364.10 Td ( issued a final transfer order for the transfer of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 86.00 352.10 Td (Rishmague) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 130.44 352.10 Td ( to the Northern District of ) Tj ET Q q 0 0 0 rg BT 239.68 352.10 Td (T) Tj ET Q q 0 0 0 rg BT 245.09 352.10 Td (exas, where it is currently pending. On ) Tj ET Q q 0 0 0 rg BT 401.99 352.10 Td (August 13, 2012, the plaintif) Tj ET Q q 0 0 0 rg BT 516.80 352.10 Td (fs joined ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 340.10 Td (with the plaintif) Tj ET Q q 0 0 0 rg BT 149.70 340.10 Td (fs in the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 184.41 340.10 Td (Rupert) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 211.63 340.10 Td ( action in their motion to lift the court) Tj ET Q q 0 0 0 rg BT 365.49 340.10 Td (s stay of the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 416.03 340.10 Td (Rupert) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.25 340.10 Td ( action. On September 9, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 328.10 Td (2014, the court remanded ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 190.69 328.10 Td (Rishmague ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 237.63 328.10 Td (to ) Tj ET Q q 0 0 0 rg BT 247.72 328.10 Td (T) Tj ET Q q 0 0 0 rg BT 253.13 328.10 Td (exas state court \(Bexar County\), but stayed the action until further order of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 316.10 Td (the court and denied the plaintif) Tj ET Q q 0 0 0 rg BT 213.28 316.10 Td (fs) Tj ET Q q 0 0 0 rg BT 223.08 316.10 Td ( motion to lift the stay) Tj ET Q q 0 0 0 rg BT 311.04 316.10 Td (. On October 10, 2014, the plaintif) Tj ET Q q 0 0 0 rg BT 448.89 316.10 Td (fs appealed the court) Tj ET Q q 0 0 0 rg BT 534.68 316.10 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 304.10 Td (denial of their motion to lift the stay to the Fifth Circuit. On January 5, 2015, the Fifth Circuit consolidated the appeal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 292.10 Td (with the appeal in the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 174.58 292.10 Td (Rupert) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 201.80 292.10 Td ( action, and the consolidated appeal was fully briefed as of March 24, 2015. Oral ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 280.10 Td (ar) Tj ET Q q 0 0 0 rg BT 93.59 280.10 Td (gument on the consolidated appeal was held on September 2, 2015. On September 16, 2015, the Fifth Circuit ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 268.10 Td (af) Tj ET Q q 0 0 0 rg BT 93.59 268.10 Td (firmed. ) Tj ET Q q 0 0 0 rg BT 125.06 268.10 Td (The defendants have not yet responded to the complaint in ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 361.66 268.10 Td (Rishmague) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.10 268.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.60 268.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 247.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 86.00 247.10 Td (MacArthur v) Tj ET Q q 0 0 0 rg BT 136.63 247.10 Td (. W) Tj ET Q q 0 0 0 rg BT 149.41 247.10 Td (inter) Tj ET Q q 0 0 0 rg BT 167.19 247.10 Td (, et al.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 192.19 247.10 Td (, Case No. 2013-07840, was filed on February 8, 2013 on behalf of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.97 247.10 Td (two) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.97 247.10 Td ( Stanford investors ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 235.10 Td (against ) Tj ET Q q 0 0 0 rg BT 116.64 235.10 Td (W) Tj ET Q q 0 0 0 rg BT 125.68 235.10 Td (illis Group Holdings plc, ) Tj ET Q q 0 0 0 rg BT 227.45 235.10 Td (W) Tj ET Q q 0 0 0 rg BT 236.48 235.10 Td (illis of Colorado, Inc., ) Tj ET Q q 0 0 0 rg BT 327.12 235.10 Td (W) Tj ET Q q 0 0 0 rg BT 336.16 235.10 Td (illis of ) Tj ET Q q 0 0 0 rg BT 364.32 235.10 Td (T) Tj ET Q q 0 0 0 rg BT 369.73 235.10 Td (exas, Inc. and the same ) Tj ET Q q 0 0 0 rg BT 464.78 235.10 Td (W) Tj ET Q q 0 0 0 rg BT 473.82 235.10 Td (illis associate, among ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 223.10 Td (others, in ) Tj ET Q q 0 0 0 rg BT 125.54 223.10 Td (T) Tj ET Q q 0 0 0 rg BT 130.95 223.10 Td (exas state court \(Harris County\). ) Tj ET Q q 0 0 0 rg BT 263.50 223.10 Td (The complaint alleges claims under ) Tj ET Q q 0 0 0 rg BT 408.00 223.10 Td (T) Tj ET Q q 0 0 0 rg BT 413.41 223.10 Td (exas and Colorado statutory law and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 211.10 Td (T) Tj ET Q q 0 0 0 rg BT 91.41 211.10 Td (exas common law and seeks actual, special, consequential and treble damages of approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.10 211.10 Td ($4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.50 211.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 199.10 Td (attorneys) Tj ET Q q 0 0 0 rg BT 125.24 199.10 Td ( fees and costs. On March 29, 2013, ) Tj ET Q q 0 0 0 rg BT 271.42 199.10 Td (W) Tj ET Q q 0 0 0 rg BT 280.46 199.10 Td (illis of Colorado, Inc. and ) Tj ET Q q 0 0 0 rg BT 385.54 199.10 Td (W) Tj ET Q q 0 0 0 rg BT 394.57 199.10 Td (illis of ) Tj ET Q q 0 0 0 rg BT 422.73 199.10 Td (T) Tj ET Q q 0 0 0 rg BT 428.14 199.10 Td (exas, Inc. \(i\)removed ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 86.00 187.10 Td (MacArthur) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 130.44 187.10 Td ( to the U.S.District Court for the Southern District of ) Tj ET Q q 0 0 0 rg BT 346.62 187.10 Td (T) Tj ET Q q 0 0 0 rg BT 352.03 187.10 Td (exas and \(ii\)notified the JPML) Tj ET Q q 0 0 0 rg BT 476.36 187.10 Td ( of the pendency of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 175.10 Td (this related action. On ) Tj ET Q q 0 0 0 rg BT 176.25 175.10 Td (April 2, 2013, ) Tj ET Q q 0 0 0 rg BT 234.68 175.10 Td (W) Tj ET Q q 0 0 0 rg BT 243.72 175.10 Td (illis of Colorado, Inc. and ) Tj ET Q q 0 0 0 rg BT 348.80 175.10 Td (W) Tj ET Q q 0 0 0 rg BT 357.84 175.10 Td (illis of ) Tj ET Q q 0 0 0 rg BT 385.99 175.10 Td (T) Tj ET Q q 0 0 0 rg BT 391.40 175.10 Td (exas, Inc. filed a motion in the Southern ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 163.10 Td (District of ) Tj ET Q q 0 0 0 rg BT 129.14 163.10 Td (T) Tj ET Q q 0 0 0 rg BT 134.55 163.10 Td (exas to stay the action pending a determination by the JPML) Tj ET Q q 0 0 0 rg BT 376.35 163.10 Td ( as to whether it should be transferred to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 151.10 Td (Northern District of ) Tj ET Q q 0 0 0 rg BT 167.74 151.10 Td (T) Tj ET Q q 0 0 0 rg BT 173.15 151.10 Td (exas for consolidation or coordination with the other Stanford-related actions. ) Tj ET Q q 0 0 0 rg BT 486.12 151.10 Td (Also on ) Tj ET Q q 0 0 0 rg BT 519.46 151.10 Td (April 2, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 139.10 Td (2013, the court presiding over ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 208.75 139.10 Td (MacArthur) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 253.19 139.10 Td ( in the Southern District of ) Tj ET Q q 0 0 0 rg BT 362.44 139.10 Td (T) Tj ET Q q 0 0 0 rg BT 367.85 139.10 Td (exas transferred the action to the Northern ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 127.10 Td (District of ) Tj ET Q q 0 0 0 rg BT 129.14 127.10 Td (T) Tj ET Q q 0 0 0 rg BT 134.55 127.10 Td (exas for consolidation or coordination with the other Stanford-related actions. On September 29, 2014, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 115.10 Td (parties stipulated to the remand \(to ) Tj ET Q q 0 0 0 rg BT 227.45 115.10 Td (T) Tj ET Q q 0 0 0 rg BT 232.86 115.10 Td (exas state court \(Harris County\)\) and stay of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 412.80 115.10 Td (MacArthur) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.24 115.10 Td ( until further order of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 103.10 Td (court \(in accordance with the court) Tj ET Q q 0 0 0 rg BT 228.44 103.10 Td (s September 9, 2014 decision in ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 358.70 103.10 Td (Rishmague) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.13 103.10 Td ( \(discussed above\)\), which stipulation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 91.10 Td (was so ordered) Tj ET Q q 0 0 0 rg BT 151.90 91.10 Td ( by the court on October 14, 2014. ) Tj ET Q q 0 0 0 rg BT 291.69 91.10 Td (The defendants have not yet responded to the complaint in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 79.10 Td (MacArthur) Tj ET Q q 0 0 0 rg BT 129.88 79.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 132.38 79.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 58.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 86.00 58.10 Td (Florida suits: ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 143.23 58.10 Td (On February 14, 2013, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 236.55 58.10 Td (five) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 252.09 58.10 Td ( lawsuits were filed against ) Tj ET Q q 0 0 0 rg BT 363.27 58.10 Td (W) Tj ET Q q 0 0 0 rg BT 372.31 58.10 Td (illis Group Holdings plc, ) Tj ET Q q 0 0 0 rg BT 474.07 58.10 Td (W) Tj ET Q q 0 0 0 rg BT 483.11 58.10 Td (illis Limited and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 46.10 Td (W) Tj ET Q q 0 0 0 rg BT 95.04 46.10 Td (illis of Colorado, Inc. in Florida state court \(Miami-Dade County\) alleging violations of Florida common law) Tj ET Q q 0 0 0 rg BT 531.25 46.10 Td (. ) Tj ET Q q 0 0 0 rg BT 536.07 46.10 Td (The ) Tj ET Q endstream endobj 251 0 obj <> endobj 252 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.50 31.60 Td (125) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 742.10 Td (five) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 101.55 742.10 Td ( suits are: \(1\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 154.03 742.10 Td ( Barbar) Tj ET Q q 0 0 0 rg BT 184.32 742.10 Td (, et al. v) Tj ET Q q 0 0 0 rg BT 215.51 742.10 Td (. W) Tj ET Q q 0 0 0 rg BT 228.29 742.10 Td (illis Gr) Tj ET Q q 0 0 0 rg BT 256.53 742.10 Td (oup Holdings Public Limited Company) Tj ET Q q 0 0 0 rg BT 412.64 742.10 Td (, et al.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.64 742.10 Td (, Case No. 13-05666CA27, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 730.10 Td (filed on behalf of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 157.64 730.10 Td (35) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 167.64 730.10 Td ( Stanford investors seeking compensatory damages in excess of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.52 730.10 Td ($30 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.91 730.10 Td (; \(2\) ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 490.35 730.10 Td (de) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.79 730.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 502.29 730.10 Td (Gadala-) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 86.00 718.10 Td (Maria, et al. v) Tj ET Q q 0 0 0 rg BT 142.19 718.10 Td (. W) Tj ET Q q 0 0 0 rg BT 154.97 718.10 Td (illis Gr) Tj ET Q q 0 0 0 rg BT 183.22 718.10 Td (oup Holdings Public Limited Company) Tj ET Q q 0 0 0 rg BT 339.33 718.10 Td (, et al.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.32 718.10 Td (, Case No. 13-05669CA30, filed on behalf of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.34 718.10 Td (64) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.34 718.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 706.10 Td (Stanford investors seeking compensatory damages in excess of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.38 706.10 Td ($83.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.27 706.10 Td (; \(3\) ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 413.71 706.10 Td (Ranni, et ano. v) Tj ET Q q 0 0 0 rg BT 476.01 706.10 Td (. W) Tj ET Q q 0 0 0 rg BT 488.79 706.10 Td (illis Gr) Tj ET Q q 0 0 0 rg BT 517.04 706.10 Td (oup ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 86.00 694.10 Td (Holdings Public Limited Company) Tj ET Q q 0 0 0 rg BT 224.61 694.10 Td (, et al.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.60 694.10 Td (, Case No. 13-05673CA06, filed on behalf of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.63 694.10 Td (two) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.63 694.10 Td ( Stanford investors seeking ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 682.10 Td (compensatory damages in excess of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 231.79 682.10 Td ($3 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 273.18 682.10 Td (; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.01 682.10 Td (\(4\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 290.67 682.10 Td ( T) Tj ET Q q 0 0 0 rg BT 298.18 682.10 Td (isminesky) Tj ET Q q 0 0 0 rg BT 336.50 682.10 Td (, et al. v) Tj ET Q q 0 0 0 rg BT 367.69 682.10 Td (. W) Tj ET Q q 0 0 0 rg BT 380.47 682.10 Td (illis Gr) Tj ET Q q 0 0 0 rg BT 408.72 682.10 Td (oup Holdings Public Limited ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 86.00 670.10 Td (Company) Tj ET Q q 0 0 0 rg BT 123.78 670.10 Td (, et al.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 148.77 670.10 Td (, Case No. 13-05676CA09, filed on behalf of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.80 670.10 Td (1) Tj ET Q q 0 0 0 rg BT 336.42 670.10 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.42 670.10 Td ( Stanford investors seeking compensatory damages in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 658.10 Td (excess of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 125.43 658.10 Td ($6.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 174.32 658.10 Td (; and \(5\) ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 210.70 658.10 Td (Zacarias, et al. v) Tj ET Q q 0 0 0 rg BT 277.45 658.10 Td (. W) Tj ET Q q 0 0 0 rg BT 290.23 658.10 Td (illis Gr) Tj ET Q q 0 0 0 rg BT 318.48 658.10 Td (oup Holdings Public Limited Company) Tj ET Q q 0 0 0 rg BT 474.58 658.10 Td (, et al.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.58 658.10 Td (, Case No. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 646.10 Td (13-05678CA1) Tj ET Q q 0 0 0 rg BT 142.85 646.10 Td (1, filed on behalf of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.49 646.10 Td (10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 234.49 646.10 Td ( Stanford investors seeking compensatory damages in excess of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.37 646.10 Td ($12.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.26 646.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 634.10 Td (On June 3, 2013, ) Tj ET Q q 0 0 0 rg BT 156.37 634.10 Td (W) Tj ET Q q 0 0 0 rg BT 165.41 634.10 Td (illis of Colorado, Inc. removed all ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.71 634.10 Td (five) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.26 634.10 Td ( cases to the Southern District of Florida and, on June 4, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 622.10 Td (2013, notified the JPML) Tj ET Q q 0 0 0 rg BT 183.40 622.10 Td ( of the pendency of these related actions. On June 10, 2013, the court in ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 472.76 622.10 Td (T) Tj ET Q q 0 0 0 rg BT 477.77 622.10 Td (isminesky) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.65 622.10 Td ( issued an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 610.10 Td (order ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 109.60 610.10 Td (sua sponte) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 152.10 610.10 Td ( staying and administratively closing that action pending a determination by the JPML) Tj ET Q q 0 0 0 rg BT 497.22 610.10 Td ( as to whether it ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 598.10 Td (should be transferred to the Northern District of ) Tj ET Q q 0 0 0 rg BT 279.65 598.10 Td (T) Tj ET Q q 0 0 0 rg BT 285.06 598.10 Td (exas for consolidation and coordination with the other Stanford-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 586.10 Td (related actions. On June 1) Tj ET Q q 0 0 0 rg BT 189.21 586.10 Td (1, 2013, ) Tj ET Q q 0 0 0 rg BT 224.03 586.10 Td (W) Tj ET Q q 0 0 0 rg BT 233.07 586.10 Td (illis of Colorado, Inc. moved to stay the other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.75 586.10 Td (four) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.41 586.10 Td ( actions pending the JPML) Tj ET Q q 0 0 0 rg BT 540.71 586.10 Td () Tj ET Q q 0 0 0 rg BT 543.49 586.10 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 574.10 Td (transfer decision. On June 20, 2013, the JPML) Tj ET Q q 0 0 0 rg BT 271.71 574.10 Td ( issued a conditional transfer order for the transfer of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.24 574.10 Td (five) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.79 574.10 Td ( actions to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 562.10 Td (the Northern District of ) Tj ET Q q 0 0 0 rg BT 182.46 562.10 Td (T) Tj ET Q q 0 0 0 rg BT 187.87 562.10 Td (exas, the transmittal of which was stayed for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.65 562.10 Td (seven days) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.25 562.10 Td ( to allow for any opposition to be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 550.10 Td (filed.On June 28, 2013, with no opposition having been filed, the JPML) Tj ET Q q 0 0 0 rg BT 375.60 550.10 Td ( lifted the stay) Tj ET Q q 0 0 0 rg BT 431.88 550.10 Td (, enabling the transfer to go ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 538.10 Td (forward.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.15 538.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 517.10 Td (On September 30, 2014, the court denied the plaintif) Tj ET Q q 0 0 0 rg BT 296.32 517.10 Td (fs) Tj ET Q q 0 0 0 rg BT 306.13 517.10 Td ( motion to remand in ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 392.51 517.10 Td (Zacarias) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.07 517.10 Td (, and, on October 3, 2014, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 505.10 Td (court denied the plaintif) Tj ET Q q 0 0 0 rg BT 181.62 505.10 Td (fs) Tj ET Q q 0 0 0 rg BT 191.43 505.10 Td ( motions to remand in ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 281.70 505.10 Td (T) Tj ET Q q 0 0 0 rg BT 286.71 505.10 Td (isminesky) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 325.58 505.10 Td ( and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 345.02 505.10 Td (de Gadala Maria) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.46 505.10 Td (. On December 3, 2014 and March ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 493.10 Td (3, 2015, the court granted the plaintif) Tj ET Q q 0 0 0 rg BT 234.67 493.10 Td (fs) Tj ET Q q 0 0 0 rg BT 244.48 493.10 Td ( motions to remand in ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 334.75 493.10 Td (Barbar) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.64 493.10 Td ( and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 383.08 493.10 Td (Ranni) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.96 493.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 459.62 493.10 Td (, remanded both actions ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 481.10 Td (to Florida state court \(Miami-Dade County\) and stayed both actions until further order of the court. On January 2, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 469.10 Td (2015 and ) Tj ET Q q 0 0 0 rg BT 124.89 469.10 Td (April 1, 2015, the plaintif) Tj ET Q q 0 0 0 rg BT 226.91 469.10 Td (fs in ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 246.91 469.10 Td (Barbar) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.80 469.10 Td ( and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 295.24 469.10 Td (Ranni) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.13 469.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 371.79 469.10 Td (, appealed the court) Tj ET Q q 0 0 0 rg BT 452.87 469.10 Td (s December 3, 2014 and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 457.10 Td (March 3, 2015 decisions to the Fifth Circuit. On ) Tj ET Q q 0 0 0 rg BT 280.70 457.10 Td (April 22, 2015 and July 22, 2015, respectively) Tj ET Q q 0 0 0 rg BT 465.58 457.10 Td (, the Fifth Circuit ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 445.10 Td (dismissed the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 142.67 445.10 Td (Barbar) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 171.56 445.10 Td ( and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 191.00 445.10 Td (Ranni) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.88 445.10 Td ( appeals) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 247.37 445.10 Td ( sua sponte ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.87 445.10 Td (for lack of jurisdiction. ) Tj ET Q q 0 0 0 rg BT 389.38 445.10 Td (The defendants have not yet responded to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 433.10 Td (the complaints in ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 157.38 433.10 Td (Ranni) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 181.26 433.10 Td ( or ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 194.59 433.10 Td (Barbar) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 223.49 433.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.99 433.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 412.10 Td (On ) Tj ET Q q 0 0 0 rg BT 100.17 412.10 Td (April 1, 2015, the defendants except ) Tj ET Q q 0 0 0 rg BT 247.72 412.10 Td (W) Tj ET Q q 0 0 0 rg BT 256.76 412.10 Td (illis Group Holdings plc filed motions to dismiss the complaints in ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 86.00 400.10 Td (Zacarias) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 121.56 400.10 Td (, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 126.56 400.10 Td (T) Tj ET Q q 0 0 0 rg BT 131.57 400.10 Td (isminesky) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 170.45 400.10 Td ( and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 189.89 400.10 Td (de Gadala-Maria) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.16 400.10 Td (. On June 19, 2015, ) Tj ET Q q 0 0 0 rg BT 340.53 400.10 Td (W) Tj ET Q q 0 0 0 rg BT 349.56 400.10 Td (illis Group Holdings plc filed motions to dismiss the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 388.10 Td (complaints in ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 142.66 388.10 Td (Zacarias) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 178.22 388.10 Td (, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 183.22 388.10 Td (T) Tj ET Q q 0 0 0 rg BT 188.23 388.10 Td (isminesky) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 227.11 388.10 Td ( and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 246.55 388.10 Td (de Gadala-Maria) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.82 388.10 Td ( for lack of personal jurisdiction. On July 15, 2015, the court ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 376.10 Td (dismissed the complaint in ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 195.43 376.10 Td (Zacarias) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 231.00 376.10 Td ( in its entirety with leave to replead within ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.89 376.10 Td (21 days) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.72 376.10 Td (. On July 21, 2015, the court ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 364.10 Td (dismissed the complaints in ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 199.33 364.10 Td (T) Tj ET Q q 0 0 0 rg BT 204.33 364.10 Td (isminesky) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.21 364.10 Td ( and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 262.65 364.10 Td (de Gadala-Maria) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.92 364.10 Td ( in their entirety with leave to replead within ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.70 364.10 Td (21 days) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.53 364.10 Td (. On ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 352.10 Td (August 6, 2015, the plaintif) Tj ET Q q 0 0 0 rg BT 195.81 352.10 Td (fs in ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 215.81 352.10 Td (Zacarias) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 251.37 352.10 Td (, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 256.37 352.10 Td (T) Tj ET Q q 0 0 0 rg BT 261.38 352.10 Td (isminesky) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.26 352.10 Td ( and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 319.70 352.10 Td (de Gadala-Maria) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.96 352.10 Td ( filed amended complaints \(in which, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 340.10 Td (among other things, ) Tj ET Q q 0 0 0 rg BT 168.03 340.10 Td (W) Tj ET Q q 0 0 0 rg BT 177.07 340.10 Td (illis Group Holdings plc was no longer named as a defendant\). On September 1) Tj ET Q q 0 0 0 rg BT 494.40 340.10 Td (1, 2015, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 328.10 Td (defendants filed motions to dismiss the amended complaints. ) Tj ET Q q 0 0 0 rg BT 332.17 328.10 Td (The motions await disposition by the court.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.76 328.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 68.00 307.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 86.00 307.10 Td (Janvey) Tj ET Q q 0 0 0 rg BT 113.20 307.10 Td (, et al. v) Tj ET Q q 0 0 0 rg BT 144.39 307.10 Td (. W) Tj ET Q q 0 0 0 rg BT 157.17 307.10 Td (illis of Colorado, Inc., et al.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.56 307.10 Td (, Case No. 3:13-CV) Tj ET Q q 0 0 0 rg BT 346.80 307.10 Td (-03980-D, was filed on October 1, 2013 also in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 295.10 Td (Northern District of ) Tj ET Q q 0 0 0 rg BT 167.74 295.10 Td (T) Tj ET Q q 0 0 0 rg BT 173.15 295.10 Td (exas against ) Tj ET Q q 0 0 0 rg BT 224.07 295.10 Td (W) Tj ET Q q 0 0 0 rg BT 233.10 295.10 Td (illis Group Holdings plc, ) Tj ET Q q 0 0 0 rg BT 334.87 295.10 Td (W) Tj ET Q q 0 0 0 rg BT 343.91 295.10 Td (illis Limited, ) Tj ET Q q 0 0 0 rg BT 397.89 295.10 Td (W) Tj ET Q q 0 0 0 rg BT 406.93 295.10 Td (illis North ) Tj ET Q q 0 0 0 rg BT 449.71 295.10 Td (America Inc., ) Tj ET Q q 0 0 0 rg BT 506.72 295.10 Td (W) Tj ET Q q 0 0 0 rg BT 515.76 295.10 Td (illis of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 283.10 Td (Colorado, Inc. and the same ) Tj ET Q q 0 0 0 rg BT 200.51 283.10 Td (W) Tj ET Q q 0 0 0 rg BT 209.54 283.10 Td (illis associate. ) Tj ET Q q 0 0 0 rg BT 267.96 283.10 Td (The complaint was filed \(i\) by Ralph S. Janvey) Tj ET Q q 0 0 0 rg BT 455.88 283.10 Td (, in his capacity as Court-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 271.10 Td (Appointed Receiver for the Stanford Receivership Estate, and the Of) Tj ET Q q 0 0 0 rg BT 360.73 271.10 Td (ficial Stanford Investors Committee \(the OSIC\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 259.10 Td (against all defendants and \(ii\) on behalf of a putative, worldwide class of Stanford investors against ) Tj ET Q q 0 0 0 rg BT 485.99 259.10 Td (W) Tj ET Q q 0 0 0 rg BT 495.02 259.10 Td (illis North ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 247.10 Td (America Inc. Plaintif) Tj ET Q q 0 0 0 rg BT 169.96 247.10 Td (fs Janvey and the OSIC allege claims under ) Tj ET Q q 0 0 0 rg BT 346.95 247.10 Td (T) Tj ET Q q 0 0 0 rg BT 352.36 247.10 Td (exas common law and the court) Tj ET Q q 0 0 0 rg BT 482.04 247.10 Td (s ) Tj ET Q q 0 0 0 rg BT 487.88 247.10 Td (Amended Order ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 235.10 Td (Appointing Receiver) Tj ET Q q 0 0 0 rg BT 169.19 235.10 Td (, and the putative class plaintif) Tj ET Q q 0 0 0 rg BT 291.20 235.10 Td (fs allege claims under ) Tj ET Q q 0 0 0 rg BT 380.98 235.10 Td (T) Tj ET Q q 0 0 0 rg BT 386.39 235.10 Td (exas statutory and common law) Tj ET Q q 0 0 0 rg BT 512.38 235.10 Td (. Plaintif) Tj ET Q q 0 0 0 rg BT 546.64 235.10 Td (fs ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 223.10 Td (seek actual damages in excess of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 219.83 223.10 Td ($1 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.45 223.10 Td (, punitive damages and costs. ) Tj ET Q q 0 0 0 rg BT 377.59 223.10 Td (As alleged by the Stanford Receiver) Tj ET Q q 0 0 0 rg BT 521.86 223.10 Td (, the total ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 211.10 Td (amount of collective losses allegedly sustained by all investors in Stanford certificates of deposit is approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 199.10 Td ($4.6 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 132.11 199.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 134.61 199.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 178.10 Td (On November 15, 2013, plaintif) Tj ET Q q 0 0 0 rg BT 214.13 178.10 Td (fs in ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 234.13 178.10 Td (Janvey ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 264.38 178.10 Td (filed the operative First ) Tj ET Q q 0 0 0 rg BT 359.92 178.10 Td (Amended Complaint, which added certain ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 166.10 Td (defendants unaf) Tj ET Q q 0 0 0 rg BT 149.40 166.10 Td (filiated with ) Tj ET Q q 0 0 0 rg BT 200.32 166.10 Td (W) Tj ET Q q 0 0 0 rg BT 209.36 166.10 Td (illis. On February 28, 2014, the defendants filed motions to dismiss the First ) Tj ET Q q 0 0 0 rg BT 516.56 166.10 Td (Amended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 154.10 Td (Complaint, which motions, other than with respect to ) Tj ET Q q 0 0 0 rg BT 301.34 154.10 Td (W) Tj ET Q q 0 0 0 rg BT 310.38 154.10 Td (illis Group Holding plc) Tj ET Q q 0 0 0 rg BT 406.21 154.10 Td (s motion to dismiss for lack of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 142.10 Td (personal jurisdiction, were granted in part and denied in part by the court on December 5, 2014. On December 22, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 130.10 Td (2014, ) Tj ET Q q 0 0 0 rg BT 110.82 130.10 Td (W) Tj ET Q q 0 0 0 rg BT 119.86 130.10 Td (illis filed a motion to amend the court) Tj ET Q q 0 0 0 rg BT 273.44 130.10 Td (s December 5 order to certify an interlocutory appeal to the Fifth ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 118.10 Td (Circuit, and, on December 23, 2014, ) Tj ET Q q 0 0 0 rg BT 234.12 118.10 Td (W) Tj ET Q q 0 0 0 rg BT 243.15 118.10 Td (illis filed a motion to amend and, to the extent necessary) Tj ET Q q 0 0 0 rg BT 468.28 118.10 Td (, reconsider the court) Tj ET Q q 0 0 0 rg BT 555.46 118.10 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 106.10 Td (December 5 order) Tj ET Q q 0 0 0 rg BT 157.63 106.10 Td (. On January 16, 2015, the defendants answered the First ) Tj ET Q q 0 0 0 rg BT 386.75 106.10 Td (Amended Complaint. On January 28, 2015, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 94.10 Td (the court denied ) Tj ET Q q 0 0 0 rg BT 152.74 94.10 Td (W) Tj ET Q q 0 0 0 rg BT 161.78 94.10 Td (illis) Tj ET Q q 0 0 0 rg BT 179.56 94.10 Td (s motion to amend the court) Tj ET Q q 0 0 0 rg BT 294.26 94.10 Td (s December 5 order to certify an interlocutory appeal to the Fifth ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 82.10 Td (Circuit. On February 4, 2015, the court granted ) Tj ET Q q 0 0 0 rg BT 277.16 82.10 Td (W) Tj ET Q q 0 0 0 rg BT 286.20 82.10 Td (illis) Tj ET Q q 0 0 0 rg BT 303.98 82.10 Td (s motion to amend and, to the extent necessary) Tj ET Q q 0 0 0 rg BT 490.23 82.10 Td (, reconsider the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 70.10 Td (December 5 order) Tj ET Q q 0 0 0 rg BT 157.63 70.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 160.13 70.10 Td ( ) Tj ET Q endstream endobj 253 0 obj <> endobj 254 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.50 31.60 Td (126) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 742.10 Td (As discussed above, on March 25, 2014, the parties in ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 304.57 742.10 Td (T) Tj ET Q q 0 0 0 rg BT 309.58 742.10 Td (r) Tj ET Q q 0 0 0 rg BT 313.10 742.10 Td (oice) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.75 742.10 Td ( and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 349.19 742.10 Td (Janvey) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.95 742.10 Td ( stipulated to the consolidation of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.75 742.10 Td (two) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.75 742.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 730.10 Td (actions for pre-trial purposes under Rule 42\(a\) of the Federal Rules of Civil Procedure. On March 28, 2014, the Court ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 718.10 Td (so ordered) Tj ET Q q 0 0 0 rg BT 133.85 718.10 Td ( that stipulation and, thus, consolidated ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 292.71 718.10 Td (T) Tj ET Q q 0 0 0 rg BT 297.72 718.10 Td (r) Tj ET Q q 0 0 0 rg BT 301.24 718.10 Td (oice) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.90 718.10 Td ( and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 337.34 718.10 Td (Janvey) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.09 718.10 Td ( for pre-trial purposes under Rule 42\(a\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.76 718.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 697.10 Td (On January 26, 2015, the court entered an order setting a schedule for briefing and discovery regarding the plaintif) Tj ET Q q 0 0 0 rg BT 544.00 697.10 Td (fs) Tj ET Q q 0 0 0 rg BT 553.81 697.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 685.10 Td (motion for class certification, which schedule, among other things, provided for the submission of the plaintif) Tj ET Q q 0 0 0 rg BT 524.06 685.10 Td (fs) Tj ET Q q 0 0 0 rg BT 533.87 685.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 673.10 Td (motion for class certification \(following the completion of briefing and discovery\) on July 20, 2015. By letter dated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 661.10 Td (March 4, 2015, the parties requested that the court consolidate the scheduling orders entered in ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 467.82 661.10 Td (T) Tj ET Q q 0 0 0 rg BT 472.83 661.10 Td (r) Tj ET Q q 0 0 0 rg BT 476.35 661.10 Td (oice) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.01 661.10 Td ( and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 512.45 661.10 Td (Janvey) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.20 661.10 Td ( to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 649.10 Td (provide for a class certification submission date of ) Tj ET Q q 0 0 0 rg BT 289.83 649.10 Td (April 20, 2015 in both cases. On March 6, 2015, the court entered ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 637.10 Td (an order consolidating the scheduling orders in ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 276.23 637.10 Td (T) Tj ET Q q 0 0 0 rg BT 281.24 637.10 Td (r) Tj ET Q q 0 0 0 rg BT 284.76 637.10 Td (oice) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.42 637.10 Td ( and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 320.85 637.10 Td (Janvey) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.61 637.10 Td (, providing for a class certification submission date ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 625.10 Td (of ) Tj ET Q q 0 0 0 rg BT 96.28 625.10 Td (April 20, 2015 in both cases, and vacating the July 20, 2015 class certification submission date in the original ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 86.00 613.10 Td (Janvey) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 113.75 613.10 Td ( scheduling order) Tj ET Q q 0 0 0 rg BT 182.63 613.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 185.13 613.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 592.10 Td (On November 17, 2015, ) Tj ET Q q 0 0 0 rg BT 185.25 592.10 Td (W) Tj ET Q q 0 0 0 rg BT 194.29 592.10 Td (illis Group Holdings plc withdrew its motion to dismiss for lack of personal jurisdiction.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.14 592.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 68.00 571.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 86.00 571.10 Td (Martin v) Tj ET Q q 0 0 0 rg BT 119.97 571.10 Td (. W) Tj ET Q q 0 0 0 rg BT 132.75 571.10 Td (illis of Colorado, Inc., et al.,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 246.64 571.10 Td ( Case No. 2016521) Tj ET Q q 0 0 0 rg BT 322.93 571.10 Td (15, was filed on ) Tj ET Q q 0 0 0 rg BT 388.75 571.10 Td (August 5, 2016, on behalf of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.96 571.10 Td (one) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.40 571.10 Td ( Stanford ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 559.10 Td (investor against ) Tj ET Q q 0 0 0 rg BT 151.36 559.10 Td (W) Tj ET Q q 0 0 0 rg BT 160.40 559.10 Td (illis Group Holdings plc, ) Tj ET Q q 0 0 0 rg BT 262.16 559.10 Td (W) Tj ET Q q 0 0 0 rg BT 271.20 559.10 Td (illis Limited, ) Tj ET Q q 0 0 0 rg BT 325.18 559.10 Td (W) Tj ET Q q 0 0 0 rg BT 334.22 559.10 Td (illis of Colorado, Inc. and the same ) Tj ET Q q 0 0 0 rg BT 477.06 559.10 Td (W) Tj ET Q q 0 0 0 rg BT 486.10 559.10 Td (illis associate in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 547.10 Td (T) Tj ET Q q 0 0 0 rg BT 91.41 547.10 Td (exas state court \(Harris County\). ) Tj ET Q q 0 0 0 rg BT 226.47 547.10 Td (The complaint alleges claims under ) Tj ET Q q 0 0 0 rg BT 370.96 547.10 Td (T) Tj ET Q q 0 0 0 rg BT 376.37 547.10 Td (exas statutory and common law and seeks ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 535.10 Td (actual damages of less than ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 197.90 535.10 Td ($100,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 235.40 535.10 Td (, exemplary damages, attorneys) Tj ET Q q 0 0 0 rg BT 364.33 535.10 Td ( fees and costs. On September 12, 2016, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 523.10 Td (plaintif) Tj ET Q q 0 0 0 rg BT 114.70 523.10 Td (f filed an amended complaint, which added ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 290.19 523.10 Td (five) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.74 523.10 Td ( more Stanford investors as plaintif) Tj ET Q q 0 0 0 rg BT 446.37 523.10 Td (fs and seeks damages in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 511.10 Td (excess of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 125.43 511.10 Td ($1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 166.82 511.10 Td (. ) Tj ET Q q 0 0 0 rg BT 174.14 511.10 Td (The defendants have not yet responded to the amended complaint in ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 449.33 511.10 Td (Martin) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.11 511.10 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 479.61 511.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 490.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 86.00 490.10 Td (Abel, et al. v) Tj ET Q q 0 0 0 rg BT 135.52 490.10 Td (. W) Tj ET Q q 0 0 0 rg BT 148.29 490.10 Td (illis of Colorado, Inc., et al.,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 262.18 490.10 Td ( C.A. No. 3:16-cv-2601, was filed on September 12, 2016, on behalf of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 478.10 Td (more than ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.76 478.10 Td (300) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 143.76 478.10 Td ( Stanford investors against ) Tj ET Q q 0 0 0 rg BT 252.46 478.10 Td (W) Tj ET Q q 0 0 0 rg BT 261.49 478.10 Td (illis Group Holdings plc, ) Tj ET Q q 0 0 0 rg BT 363.26 478.10 Td (W) Tj ET Q q 0 0 0 rg BT 372.29 478.10 Td (illis Limited, ) Tj ET Q q 0 0 0 rg BT 426.28 478.10 Td (W) Tj ET Q q 0 0 0 rg BT 435.32 478.10 Td (illis of Colorado, Inc. and the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 466.10 Td (same ) Tj ET Q q 0 0 0 rg BT 108.87 466.10 Td (W) Tj ET Q q 0 0 0 rg BT 117.90 466.10 Td (illis associate, also in the Northern District of ) Tj ET Q q 0 0 0 rg BT 301.85 466.10 Td (T) Tj ET Q q 0 0 0 rg BT 307.26 466.10 Td (exas. ) Tj ET Q q 0 0 0 rg BT 332.35 466.10 Td (The complaint alleges claims under ) Tj ET Q q 0 0 0 rg BT 476.84 466.10 Td (T) Tj ET Q q 0 0 0 rg BT 482.25 466.10 Td (exas statutory and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 454.10 Td (common law and seeks actual damages in excess of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.10 454.10 Td ($135 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.49 454.10 Td (, exemplary damages, attorneys) Tj ET Q q 0 0 0 rg BT 475.42 454.10 Td ( fees and costs. On ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 442.10 Td (November 10, 2016, the plaintif) Tj ET Q q 0 0 0 rg BT 214.13 442.10 Td (fs filed an amended complaint, which, among other things, added several more ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 430.10 Td (Stanford investors as plaintif) Tj ET Q q 0 0 0 rg BT 201.08 430.10 Td (fs. ) Tj ET Q q 0 0 0 rg BT 215.62 430.10 Td (The defendants have not yet responded to the complaint in ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 452.22 430.10 Td (Abel) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.54 430.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.04 430.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 409.10 Td (The plaintif) Tj ET Q q 0 0 0 rg BT 96.75 409.10 Td (fs in ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 116.75 409.10 Td (Janvey) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 144.50 409.10 Td ( and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 163.94 409.10 Td (T) Tj ET Q q 0 0 0 rg BT 168.95 409.10 Td (r) Tj ET Q q 0 0 0 rg BT 172.47 409.10 Td (oice) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 189.13 409.10 Td ( and the other actions above seek overlapping damages, representing either the entirety or a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 397.10 Td (portion of the total alleged collective losses incurred by investors in Stanford certificates of deposit, notwithstanding the fact ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 385.10 Td (that Legacy ) Tj ET Q q 0 0 0 rg BT 99.24 385.10 Td (W) Tj ET Q q 0 0 0 rg BT 108.28 385.10 Td (illis acted as broker of record for only a portion of time that Stanford issued certificates of deposit.In the fourth ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 373.10 Td (quarter of 2015, the Company recognized a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 226.05 373.10 Td ($70 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.44 373.10 Td ( litigation provision for loss contingencies relating to the Stanford ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 361.10 Td (matters based on its ongoing review of a variety of factors as required by accounting standards.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.99 361.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 340.10 Td (On March 31, 2016, the Company entered into a settlement in principle for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.42 340.10 Td ($120 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.81 340.10 Td ( relating to this litigation, and we ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.79 340.10 Td (have ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 328.10 Td (therefore increased our provisions by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 201.34 328.10 Td ($50 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 247.73 328.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 250.23 328.10 Td (Further details on this settlement in principle are given below) Tj ET Q q 0 0 0 rg BT 497.85 328.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.35 328.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 307.10 Td (The settlement is contingent on a number of conditions, including court approval of the settlement and a bar order prohibiting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 295.10 Td (any continued or future litigation against ) Tj ET Q q 0 0 0 rg BT 215.33 295.10 Td (W) Tj ET Q q 0 0 0 rg BT 224.37 295.10 Td (illis related to Stanford, which may not be given. ) Tj ET Q q 0 0 0 rg BT 422.20 295.10 Td (Therefore, the ultimate resolution ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 283.10 Td (of these matters may dif) Tj ET Q q 0 0 0 rg BT 146.46 283.10 Td (fer from the amount provided for) Tj ET Q q 0 0 0 rg BT 278.36 283.10 Td (. ) Tj ET Q q 0 0 0 rg BT 283.18 283.10 Td (The Company continues to dispute the allegations and, to the extent ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 271.10 Td (litigation proceeds, to defend the lawsuits vigorously) Tj ET Q q 0 0 0 rg BT 261.25 271.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 263.75 271.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 250.10 Td (Settlement) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 91.65 250.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.15 250.10 Td (On March 31, 2016, the Company entered into a settlement in principle, as reflected in a Settlement ) Tj ET Q q 0 0 0 rg BT 500.52 250.10 Td (T) Tj ET Q q 0 0 0 rg BT 505.93 250.10 Td (erm Sheet, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.10 Td (relating to the Stanford litigation matter) Tj ET Q q 0 0 0 rg BT 208.57 238.10 Td (. ) Tj ET Q q 0 0 0 rg BT 213.39 238.10 Td (The Company agreed to the Settlement ) Tj ET Q q 0 0 0 rg BT 372.06 238.10 Td (T) Tj ET Q q 0 0 0 rg BT 377.47 238.10 Td (erm Sheet to eliminate the distraction, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.10 Td (burden, expense and uncertainty of further litigation. In particular) Tj ET Q q 0 0 0 rg BT 312.28 226.10 Td (, if the settlement and the related bar orders described below ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.10 Td (are approved by the Court and become ef) Tj ET Q q 0 0 0 rg BT 215.03 214.10 Td (fective, the Company \(a newly-combined firm\) would be able to conduct itself with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 202.10 Td (the bar orders) Tj ET Q q 0 0 0 rg BT 107.56 202.10 Td ( protection from the continued overhang of matters alleged to have occurred approximately a decade ago. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 190.10 Td (Further) Tj ET Q q 0 0 0 rg BT 79.04 190.10 Td (, the Settlement ) Tj ET Q q 0 0 0 rg BT 143.84 190.10 Td (T) Tj ET Q q 0 0 0 rg BT 149.25 190.10 Td (erm Sheet provided that the parties understood and agreed that there is no admission of liability or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 178.10 Td (wrongdoing by the Company) Tj ET Q q 0 0 0 rg BT 166.28 178.10 Td (. ) Tj ET Q q 0 0 0 rg BT 171.10 178.10 Td (The Company expressly denies any liability or wrongdoing with respect to the matters alleged in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 166.10 Td (the Stanford litigation. Specifically) Tj ET Q q 0 0 0 rg BT 189.87 166.10 Td (, the parties to the Settlement ) Tj ET Q q 0 0 0 rg BT 308.83 166.10 Td (T) Tj ET Q q 0 0 0 rg BT 314.24 166.10 Td (erm Sheet are Ralph S. Janvey \(in his capacity as the Court-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 154.10 Td (appointed receiver \(the Receiver) Tj ET Q q 0 0 0 rg BT 183.91 154.10 Td (\) for ) Tj ET Q q 0 0 0 rg BT 207.05 154.10 Td (The Stanford Financial Group and its af) Tj ET Q q 0 0 0 rg BT 366.27 154.10 Td (filiated entities in receivership \(collectively) Tj ET Q q 0 0 0 rg BT 539.44 154.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 142.10 Td (Stanford\)\), the Of) Tj ET Q q 0 0 0 rg BT 127.85 142.10 Td (ficial Stanford Investors Committee, Samuel ) Tj ET Q q 0 0 0 rg BT 308.74 142.10 Td (T) Tj ET Q q 0 0 0 rg BT 314.50 142.10 Td (roice, Martha Diaz, Paula Gilly-Flores, Punga Punga ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 130.10 Td (Financial, Ltd., Manuel Canabal, Daniel Gomez Ferreiro and Promotora ) Tj ET Q q 0 0 0 rg BT 341.12 130.10 Td (V) Tj ET Q q 0 0 0 rg BT 347.74 130.10 Td (illa Marina, C.A. \(collectively) Tj ET Q q 0 0 0 rg BT 467.61 130.10 Td (, Plaintif) Tj ET Q q 0 0 0 rg BT 505.21 130.10 Td (fs\), on the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 118.10 Td (one hand, and ) Tj ET Q q 0 0 0 rg BT 108.13 118.10 Td (W) Tj ET Q q 0 0 0 rg BT 117.17 118.10 Td (illis ) Tj ET Q q 0 0 0 rg BT 134.50 118.10 Td (T) Tj ET Q q 0 0 0 rg BT 139.91 118.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 166.11 118.10 Td (W) Tj ET Q q 0 0 0 rg BT 174.75 118.10 Td (atson Public Limited Company \(formerly ) Tj ET Q q 0 0 0 rg BT 342.59 118.10 Td (W) Tj ET Q q 0 0 0 rg BT 351.63 118.10 Td (illis Group Holdings Public Limited Company\), ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 106.10 Td (W) Tj ET Q q 0 0 0 rg BT 59.04 106.10 Td (illis Limited, ) Tj ET Q q 0 0 0 rg BT 113.02 106.10 Td (W) Tj ET Q q 0 0 0 rg BT 122.06 106.10 Td (illis North ) Tj ET Q q 0 0 0 rg BT 164.84 106.10 Td (America Inc. and ) Tj ET Q q 0 0 0 rg BT 236.29 106.10 Td (W) Tj ET Q q 0 0 0 rg BT 245.33 106.10 Td (illis of Colorado, Inc. \(collectively) Tj ET Q q 0 0 0 rg BT 382.98 106.10 Td (, Defendants\), on the other hand.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.71 106.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 85.10 Td (Under the terms of the Settlement ) Tj ET Q q 0 0 0 rg BT 187.56 85.10 Td (T) Tj ET Q q 0 0 0 rg BT 192.97 85.10 Td (erm Sheet, the parties agreed in principle to settle and dismiss the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 457.62 85.10 Td (Janvey) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.37 85.10 Td ( and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 504.81 85.10 Td (T) Tj ET Q q 0 0 0 rg BT 509.82 85.10 Td (r) Tj ET Q q 0 0 0 rg BT 513.34 85.10 Td (oice) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.00 85.10 Td ( actions ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 73.10 Td (\(collectively) Tj ET Q q 0 0 0 rg BT 99.33 73.10 Td (, the Actions\) and all current or future claims arising from or related to Stanford. If the settlement, including the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 61.10 Td (bar orders described below) Tj ET Q q 0 0 0 rg BT 157.36 61.10 Td (, is approved by the Court and is not subject to further appeal, ) Tj ET Q q 0 0 0 rg BT 406.85 61.10 Td (W) Tj ET Q q 0 0 0 rg BT 415.88 61.10 Td (illis North ) Tj ET Q q 0 0 0 rg BT 458.67 61.10 Td (America Inc. will make a ) Tj ET Q endstream endobj 255 0 obj <> endobj 256 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.50 31.60 Td (127) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (one-time cash payment of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 156.07 742.10 Td ($120 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 207.47 742.10 Td ( to the Receiver to be distributed to all Stanford investors who have claims recognized ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (by the Receiver pursuant to the distribution plan in place at the time the payment is made.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.07 730.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 709.10 Td (The Settlement ) Tj ET Q q 0 0 0 rg BT 113.13 709.10 Td (T) Tj ET Q q 0 0 0 rg BT 118.54 709.10 Td (erm Sheet also provided the parties) Tj ET Q q 0 0 0 rg BT 261.92 709.10 Td ( agreement to seek the Court) Tj ET Q q 0 0 0 rg BT 379.38 709.10 Td (s entry of bar orders prohibiting any ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 697.10 Td (continued or future litigation against the Defendants and their related parties of claims relating to Stanford, whether asserted to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 685.10 Td (date or not. ) Tj ET Q q 0 0 0 rg BT 97.58 685.10 Td (The terms of the bar orders therefore would prohibit all Stanford-related litigation described above, and not just the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 673.10 Td (Actions, including any pending matters and any actions that may be brought in the future. Final Court approval of these bar ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 661.10 Td (orders is a condition of the settlement.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 203.02 661.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 640.10 Td (On or about ) Tj ET Q q 0 0 0 rg BT 99.72 640.10 Td (August 31, 2016, the parties to the settlement signed a formal Settlement ) Tj ET Q q 0 0 0 rg BT 392.99 640.10 Td (Agreement memorializing the terms of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 628.10 Td (the settlement as originally set forth in the Settlement ) Tj ET Q q 0 0 0 rg BT 266.16 628.10 Td (T) Tj ET Q q 0 0 0 rg BT 271.57 628.10 Td (erm Sheet. On September 7, 2016, the plaintif) Tj ET Q q 0 0 0 rg BT 457.73 628.10 Td (fs in the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 492.45 628.10 Td (T) Tj ET Q q 0 0 0 rg BT 497.46 628.10 Td (r) Tj ET Q q 0 0 0 rg BT 500.98 628.10 Td (oice) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.64 628.10 Td ( and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 616.10 Td (Janvey) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.75 616.10 Td ( actions filed with the Court a motion to approve the settlement. On October 19, 2016, the Court preliminarily approved ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 604.10 Td (the settlement. Several of the plaintif) Tj ET Q q 0 0 0 rg BT 200.05 604.10 Td (fs in the other actions above have objected to the settlement. ) Tj ET Q q 0 0 0 rg BT 443.31 604.10 Td (A) Tj ET Q q 0 0 0 rg BT 449.98 604.10 Td ( hearing to consider final ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 592.10 Td (approval of the settlement was held on January 20, 2017 and the Court reserved decision. ) Tj ET Q q 0 0 0 rg BT 411.94 592.10 Td (The ) Tj ET Q q 0 0 0 rg BT 429.44 592.10 Td (Actions are stayed pending final ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 580.10 Td (approval of the settlement. ) Tj ET Q q 0 0 0 rg BT 158.95 580.10 Td (The timing of any final decision is subject to the discretion of the Court and any appeal, and the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 568.10 Td (Court may decide not to approve the settlement.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.17 568.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 547.10 Td (City of Houston) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 113.33 547.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (On ) Tj ET Q q 0 0 0 rg BT 64.17 526.10 Td (August 1, 2014, the City of Houston \(plaintif) Tj ET Q q 0 0 0 rg BT 247.59 526.10 Td (f) Tj ET Q q 0 0 0 rg BT 251.47 526.10 Td (\) filed suit against Legacy ) Tj ET Q q 0 0 0 rg BT 360.97 526.10 Td (T) Tj ET Q q 0 0 0 rg BT 366.38 526.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 392.58 526.10 Td (W) Tj ET Q q 0 0 0 rg BT 401.22 526.10 Td (atson in the United States District Court ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (for the Southern District of ) Tj ET Q q 0 0 0 rg BT 160.63 514.10 Td (T) Tj ET Q q 0 0 0 rg BT 166.04 514.10 Td (exas, Houston Division. On March 8, 2016, plaintif) Tj ET Q q 0 0 0 rg BT 371.67 514.10 Td (f filed its First ) Tj ET Q q 0 0 0 rg BT 430.56 514.10 Td (Amended Complaint. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.16 514.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 493.10 Td (In the amended complaint, plaintif) Tj ET Q q 0 0 0 rg BT 187.83 493.10 Td (f alleges various deficiencies in pension actuarial work-product and advice stated to have ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 481.10 Td (been provided by Legacy ) Tj ET Q q 0 0 0 rg BT 153.67 481.10 Td (T) Tj ET Q q 0 0 0 rg BT 159.08 481.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 185.28 481.10 Td (W) Tj ET Q q 0 0 0 rg BT 193.92 481.10 Td (atson) Tj ET Q q 0 0 0 rg BT 217.80 481.10 Td (s predecessor firm, ) Tj ET Q q 0 0 0 rg BT 295.93 481.10 Td (T) Tj ET Q q 0 0 0 rg BT 301.34 481.10 Td (owers Perrin, in its capacity as principal actuary to the Houston ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 469.10 Td (Firefighters) Tj ET Q q 0 0 0 rg BT 99.24 469.10 Td ( Relief and Retirement Fund \(the Fund\). ) Tj ET Q q 0 0 0 rg BT 269.02 469.10 Td (T) Tj ET Q q 0 0 0 rg BT 274.43 469.10 Td (owers Perrin is stated to have acted in this capacity between the early ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 457.10 Td (1980s until 2003.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 124.17 457.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 436.10 Td (In particular) Tj ET Q q 0 0 0 rg BT 98.74 436.10 Td (, the amended complaint alleges misrepresentations and miscalculations in valuation reports allegedly issued by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 424.10 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 424.10 Td (owers Perrin from 2000 through 2002 upon which plaintif) Tj ET Q q 0 0 0 rg BT 287.42 424.10 Td (f claims to have relied. Plaintif) Tj ET Q q 0 0 0 rg BT 413.03 424.10 Td (f asserts that ) Tj ET Q q 0 0 0 rg BT 465.34 424.10 Td (T) Tj ET Q q 0 0 0 rg BT 470.75 424.10 Td (owers Perrin assigned ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 412.10 Td (a new team of actuaries to the Fund in 2002 to correct ) Tj ET Q q 0 0 0 rg BT 272.52 412.10 Td (T) Tj ET Q q 0 0 0 rg BT 277.93 412.10 Td (owers) Tj ET Q q 0 0 0 rg BT 304.40 412.10 Td ( own earlier mistakes and that the new team altered certain ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 400.10 Td (calculations which increased the actuarial accrued liability by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.22 400.10 Td ($163 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.61 400.10 Td (. Plaintif) Tj ET Q q 0 0 0 rg BT 393.31 400.10 Td (f claims that the reports indicated that the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 388.10 Td (City) Tj ET Q q 0 0 0 rg BT 70.00 388.10 Td (s minimum contribution percentages to the Fund would remain in place through at least 2019; and that existing benefits ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 376.10 Td (under the Fund could be increased, and new benefits could be added, without increasing plaintif) Tj ET Q q 0 0 0 rg BT 433.59 376.10 Td (f) Tj ET Q q 0 0 0 rg BT 437.48 376.10 Td () Tj ET Q q 0 0 0 rg BT 440.25 376.10 Td (s financial burden, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 364.10 Td (without increasing plaintif) Tj ET Q q 0 0 0 rg BT 155.35 364.10 Td (f) Tj ET Q q 0 0 0 rg BT 159.23 364.10 Td () Tj ET Q q 0 0 0 rg BT 162.01 364.10 Td (s rate of annual contributions to the Fund. ) Tj ET Q q 0 0 0 rg BT 331.52 364.10 Td (The amended complaint alleges that plaintif) Tj ET Q q 0 0 0 rg BT 507.11 364.10 Td (f relied on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 352.10 Td (these reports when supporting a new benefit package for the Fund. ) Tj ET Q q 0 0 0 rg BT 321.13 352.10 Td (These reports, and other advice, are alleged, among other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 340.10 Td (things, to have been negligent, to have misrepresented the present and future financial condition of the Fund and the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 328.10 Td (contributions required to be made by plaintif) Tj ET Q q 0 0 0 rg BT 228.66 328.10 Td (f to support those benefits.Plaintif) Tj ET Q q 0 0 0 rg BT 366.80 328.10 Td (f asserts that, but for ) Tj ET Q q 0 0 0 rg BT 451.04 328.10 Td (T) Tj ET Q q 0 0 0 rg BT 456.45 328.10 Td (owers Perrin) Tj ET Q q 0 0 0 rg BT 510.05 328.10 Td (s alleged ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 316.10 Td (negligence and misrepresentations, plaintif) Tj ET Q q 0 0 0 rg BT 221.43 316.10 Td (f would not have supported the benefit increase, and that such increased benefits ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 304.10 Td (would not and could not have been approved or enacted. It is further asserted that) Tj ET Q q 0 0 0 rg BT 380.54 304.10 Td (T) Tj ET Q q 0 0 0 rg BT 385.95 304.10 Td (owers Perrin) Tj ET Q q 0 0 0 rg BT 439.55 304.10 Td (s alleged negligence and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 292.10 Td (misrepresentations damaged the City to the tune of tens of millions of dollars in annual contributions.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.47 292.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 271.10 Td (Plaintif) Tj ET Q q 0 0 0 rg BT 79.26 271.10 Td (f seeks the award of punitive damages, actual damages, exemplary damages, special damages, attorney) Tj ET Q q 0 0 0 rg BT 493.82 271.10 Td (s fees and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 259.10 Td (expenses, costs of suit, pre- and post- judgment interest at the maximum legal rate, and other unspecified legal and equitable ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 247.10 Td (relief. Plaintif) Tj ET Q q 0 0 0 rg BT 107.86 247.10 Td (f has not yet quantified fully its asserted damages.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.08 247.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.10 Td (On October 10, 2014, Legacy ) Tj ET Q q 0 0 0 rg BT 171.17 226.10 Td (T) Tj ET Q q 0 0 0 rg BT 176.58 226.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 202.78 226.10 Td (W) Tj ET Q q 0 0 0 rg BT 211.42 226.10 Td (atson filed a motion to dismiss plaintif) Tj ET Q q 0 0 0 rg BT 365.12 226.10 Td (f) Tj ET Q q 0 0 0 rg BT 369.00 226.10 Td () Tj ET Q q 0 0 0 rg BT 371.78 226.10 Td (s entire complaint on the basis that the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.10 Td (complaint fails to state a claim upon which relief can be granted. On November 21, 2014, the City filed its response in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 202.10 Td (opposition to Legacy ) Tj ET Q q 0 0 0 rg BT 136.75 202.10 Td (T) Tj ET Q q 0 0 0 rg BT 142.16 202.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 168.36 202.10 Td (W) Tj ET Q q 0 0 0 rg BT 177.00 202.10 Td (atson) Tj ET Q q 0 0 0 rg BT 200.88 202.10 Td (s motion to dismiss. On September 23, 2015, Legacy ) Tj ET Q q 0 0 0 rg BT 415.13 202.10 Td (T) Tj ET Q q 0 0 0 rg BT 420.54 202.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 446.74 202.10 Td (W) Tj ET Q q 0 0 0 rg BT 455.38 202.10 Td (atson) Tj ET Q q 0 0 0 rg BT 479.26 202.10 Td (s motion to dismiss ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 190.10 Td (was denied by the United States District Court for the Southern District of ) Tj ET Q q 0 0 0 rg BT 348.93 190.10 Td (T) Tj ET Q q 0 0 0 rg BT 354.34 190.10 Td (exas, Houston Division. ) Tj ET Q q 0 0 0 rg BT 452.77 190.10 Td (The court entered a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 178.10 Td (scheduling order setting trial for May 30, 2017. On June 20, 2016, the Court entered an amended scheduling order setting trial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 166.10 Td (for October 31, 2017.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 136.37 166.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 145.10 Td (Given the stage of the proceedings, the Company is currently unable to provide an estimate of the reasonably possible loss or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 133.10 Td (range of loss. ) Tj ET Q q 0 0 0 rg BT 105.92 133.10 Td (The Company disputes the allegations, and intends to defend the lawsuit vigorously) Tj ET Q q 0 0 0 rg BT 440.21 133.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.71 133.10 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 112.10 Td (British Coal Staff Superannuation Scheme) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 219.43 112.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 91.10 Td (On September 4, 2014, ) Tj ET Q q 0 0 0 rg BT 144.80 91.10 Td (T) Tj ET Q q 0 0 0 rg BT 150.21 91.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 176.42 91.10 Td (W) Tj ET Q q 0 0 0 rg BT 185.05 91.10 Td (atson Limited \(TWL) Tj ET Q q 0 0 0 rg BT 270.22 91.10 Td (\), a wholly-owned subsidiary of Legacy ) Tj ET Q q 0 0 0 rg BT 435.27 91.10 Td (T) Tj ET Q q 0 0 0 rg BT 440.68 91.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 466.88 91.10 Td (W) Tj ET Q q 0 0 0 rg BT 475.52 91.10 Td (atson, received a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 79.10 Td (Letter of Claim\(the Demand Letter) Tj ET Q q 0 0 0 rg BT 196.14 79.10 Td (\) on behalf of Coal Staf) Tj ET Q q 0 0 0 rg BT 293.43 79.10 Td (f Superannuation Scheme ) Tj ET Q q 0 0 0 rg BT 398.50 79.10 Td (T) Tj ET Q q 0 0 0 rg BT 404.26 79.10 Td (rustees Limited \(the T) Tj ET Q q 0 0 0 rg BT 495.82 79.10 Td (rustee\), trustee ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 67.10 Td (of the British Coal Staf) Tj ET Q q 0 0 0 rg BT 142.59 67.10 Td (f Superannuation Scheme \(the Scheme\).) Tj ET Q q 0 0 0 rg BT 314.85 67.10 Td (The Demand Letter was sent under the Professional ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 55.10 Td (Negligence Pre-Action Protocol, a pre-action dispute resolution procedure which applies in England and ) Tj ET Q q 0 0 0 rg BT 470.25 55.10 Td (W) Tj ET Q q 0 0 0 rg BT 478.89 55.10 Td (ales.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.93 55.10 Td ( ) Tj ET Q endstream endobj 257 0 obj <> endobj 258 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.50 31.60 Td (128) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (In the Demand Letter) Tj ET Q q 0 0 0 rg BT 135.40 742.10 Td (, it is asserted that the ) Tj ET Q q 0 0 0 rg BT 224.36 742.10 Td (T) Tj ET Q q 0 0 0 rg BT 230.12 742.10 Td (rustee has a claim against ) Tj ET Q q 0 0 0 rg BT 334.62 742.10 Td (TWL) Tj ET Q q 0 0 0 rg BT 355.90 742.10 Td ( in respect of allegedly negligent investment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (consulting advice provided to it by ) Tj ET Q q 0 0 0 rg BT 191.46 730.10 Td (W) Tj ET Q q 0 0 0 rg BT 200.10 730.10 Td (atson ) Tj ET Q q 0 0 0 rg BT 223.53 730.10 Td (W) Tj ET Q q 0 0 0 rg BT 232.36 730.10 Td (yatt Limited, in the United Kingdom, in particular with regard to a currency hedge ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (that was implemented in connection with the Scheme) Tj ET Q q 0 0 0 rg BT 266.33 718.10 Td (s investment of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.94 718.10 Td (250 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.33 718.10 Td ( in a Bluebay local currency emer) Tj ET Q q 0 0 0 rg BT 516.08 718.10 Td (ging ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (market debt fund in ) Tj ET Q q 0 0 0 rg BT 130.54 706.10 Td (August 2008 \(the Investment\). It is alleged that the currency hedge has caused a substantial loss to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (Scheme, compensatory damages for which losses are quantified at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.69 694.10 Td (47.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.58 694.10 Td (, for the period ) Tj ET Q q 0 0 0 rg BT 432.95 694.10 Td (August 2008 to October 2012.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.33 694.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 673.10 Td (TWL) Tj ET Q q 0 0 0 rg BT 71.28 673.10 Td ( sent a Letter of Response on December 23, 2014.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.95 673.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 652.10 Td (On November 1) Tj ET Q q 0 0 0 rg BT 114.06 652.10 Td (1, 2015, the ) Tj ET Q q 0 0 0 rg BT 163.59 652.10 Td (T) Tj ET Q q 0 0 0 rg BT 169.35 652.10 Td (rustee issued a claim form in the English High Court of Justice, Queen) Tj ET Q q 0 0 0 rg BT 454.57 652.10 Td (s Bench Division, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 640.10 Td (Commercial Court, in which ) Tj ET Q q 0 0 0 rg BT 166.74 640.10 Td (TWL) Tj ET Q q 0 0 0 rg BT 188.03 640.10 Td ( is named defendant. ) Tj ET Q q 0 0 0 rg BT 275.60 640.10 Td (The ) Tj ET Q q 0 0 0 rg BT 293.46 640.10 Td (T) Tj ET Q q 0 0 0 rg BT 299.22 640.10 Td (rustee asserts that, in breach of retainer) Tj ET Q q 0 0 0 rg BT 455.14 640.10 Td (, or of a duty of care ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 628.10 Td (alleged to have been owed under contract or at common law) Tj ET Q q 0 0 0 rg BT 290.37 628.10 Td (, ) Tj ET Q q 0 0 0 rg BT 295.19 628.10 Td (TWL) Tj ET Q q 0 0 0 rg BT 316.47 628.10 Td ( acted negligently and/or provided negligent advice in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 616.10 Td (connection with the Investment and/or in relation to the monitoring of the performance of the Investment. ) Tj ET Q q 0 0 0 rg BT 482.48 616.10 Td (The ) Tj ET Q q 0 0 0 rg BT 500.34 616.10 Td (T) Tj ET Q q 0 0 0 rg BT 506.10 616.10 Td (rustee asserts ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 604.10 Td (that, but for the alleged breaches, the Scheme would have achieved a return on the Investment that was approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.55 604.10 Td (47.5 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 592.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.89 592.10 Td ( greater than the return on the Investment which it ultimately achieved, in the period between ) Tj ET Q q 0 0 0 rg BT 453.49 592.10 Td (August 2008 and 28 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 580.10 Td (September 2012. ) Tj ET Q q 0 0 0 rg BT 120.08 580.10 Td (The claim form was not served on ) Tj ET Q q 0 0 0 rg BT 259.03 580.10 Td (TWL) Tj ET Q q 0 0 0 rg BT 280.31 580.10 Td ( within the validity period.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.68 580.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 559.10 Td (Based on current information, the Company does not anticipate any further developments, and considers the matter to be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 547.10 Td (closed.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.05 547.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (Meriter Health Services) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 146.08 526.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 505.10 Td (On January 6, 2015, Meriter Health Services, Inc. \(Meriter) Tj ET Q q 0 0 0 rg BT 288.62 505.10 Td (\), plan sponsor of the Meriter Health Services Employee ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 493.10 Td (Retirement Plan \(the Plan\) filed a complaint in ) Tj ET Q q 0 0 0 rg BT 245.87 493.10 Td (W) Tj ET Q q 0 0 0 rg BT 254.91 493.10 Td (isconsin state court against ) Tj ET Q q 0 0 0 rg BT 364.71 493.10 Td (T) Tj ET Q q 0 0 0 rg BT 370.12 493.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 396.32 493.10 Td (W) Tj ET Q q 0 0 0 rg BT 404.96 493.10 Td (atson Delaware Inc. \(TWDE\), a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 481.10 Td (wholly-owned subsidiary of the Company) Tj ET Q q 0 0 0 rg BT 217.66 481.10 Td (, and against its former lawyers, individual actuaries, and insurers.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.86 481.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 460.10 Td (In the ) Tj ET Q q 0 0 0 rg BT 75.37 460.10 Td (Third ) Tj ET Q q 0 0 0 rg BT 99.53 460.10 Td (Amended Complaint, served on ) Tj ET Q q 0 0 0 rg BT 228.68 460.10 Td (April 12, 2016, Meriter alleges that ) Tj ET Q q 0 0 0 rg BT 372.35 460.10 Td (T) Tj ET Q q 0 0 0 rg BT 377.76 460.10 Td (owers, Perrin, Forster & Crosby) Tj ET Q q 0 0 0 rg BT 505.43 460.10 Td (, Inc. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 448.10 Td (\(TPFC\) and Davis, Conder) Tj ET Q q 0 0 0 rg BT 164.03 448.10 Td (, Enderle & Sloan, Inc. \(DCES\), and other entities and individuals, including Meriter) Tj ET Q q 0 0 0 rg BT 510.71 448.10 Td () Tj ET Q q 0 0 0 rg BT 513.49 448.10 Td (s former ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 436.10 Td (lawyers, acted negligently concerning the benefits consulting advice provided to Meriter) Tj ET Q q 0 0 0 rg BT 403.65 436.10 Td (, including ) Tj ET Q q 0 0 0 rg BT 448.74 436.10 Td (TPFC and the lawyers) Tj ET Q q 0 0 0 rg BT 540.48 436.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 424.10 Td (involvement in the Plan design and drafting of the Plan document in 1987 by ) Tj ET Q q 0 0 0 rg BT 360.32 424.10 Td (TPFC, and DCES and the lawyers) Tj ET Q q 0 0 0 rg BT 499.57 424.10 Td ( Plan review) Tj ET Q q 0 0 0 rg BT 548.90 424.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 412.10 Td (Plan redesign, Plan amendment, and drafting of ERISA) Tj ET Q q 0 0 0 rg BT 271.35 412.10 Td ( section 204\(h\) notices in the early 2000s. ) Tj ET Q q 0 0 0 rg BT 440.48 412.10 Td (Additionally) Tj ET Q q 0 0 0 rg BT 490.38 412.10 Td (, Meriter asserts ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 400.10 Td (that ) Tj ET Q q 0 0 0 rg BT 67.31 400.10 Td (TPFC, DCES, and the individual actuary defendants breached alleged fiduciary duties to advise Meriter regarding the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 388.10 Td (competency of Meriter) Tj ET Q q 0 0 0 rg BT 142.00 388.10 Td () Tj ET Q q 0 0 0 rg BT 144.78 388.10 Td (s then ERISA) Tj ET Q q 0 0 0 rg BT 199.22 388.10 Td ( counsel. Meriter also has asserted causes of action for contribution, indemnity) Tj ET Q q 0 0 0 rg BT 515.71 388.10 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 376.10 Td (equitable subrogation related to amounts paid to settle a class action lawsuit related to the Plan that was filed by Plan ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 364.10 Td (participants against Meriter in 2010, alleging a number of ERISA) Tj ET Q q 0 0 0 rg BT 311.61 364.10 Td ( violations and related claims. Meriter settled that lawsuit in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 352.10 Td (2015 for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.66 352.10 Td ($82 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 133.05 352.10 Td (. Meriter seeks damages in the amount of approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.76 352.10 Td ($190 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.15 352.10 Td (, which includes amounts it claims to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 340.10 Td (have paid to settle and defend the class action litigation, and amounts it claims to have incurred as a result of improper plan ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 328.10 Td (design. Meriter seeks to recover these alleged damages from ) Tj ET Q q 0 0 0 rg BT 296.67 328.10 Td (TWDE and the other defendants.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.56 328.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 307.10 Td (On January 12, 2016, ) Tj ET Q q 0 0 0 rg BT 138.14 307.10 Td (TWDE and the other defendants filed a motion for partial summary judgment seeking dismissal of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 295.10 Td (Meriter) Tj ET Q q 0 0 0 rg BT 80.36 295.10 Td () Tj ET Q q 0 0 0 rg BT 83.13 295.10 Td (s negligence and breach of fiduciary duty claims. On ) Tj ET Q q 0 0 0 rg BT 296.40 295.10 Td (April 18, 2016, ) Tj ET Q q 0 0 0 rg BT 359.82 295.10 Td (TWDE and the other defendants filed a motion to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 283.10 Td (dismiss the contribution, indemnification, and equitable subrogation claims.On May 4, 2016, the parties appeared for oral ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 271.10 Td (ar) Tj ET Q q 0 0 0 rg BT 57.59 271.10 Td (gument on the motion for partial summary judgment, which the court granted in part and denied in part. ) Tj ET Q q 0 0 0 rg BT 477.58 271.10 Td (The court dismissed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 259.10 Td (the fiduciary duty claims, but not the negligence claims.Meriter subsequently moved for reconsideration of the dismissal of its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 247.10 Td (breach of fiduciary duty claims, which motion was denied as to ) Tj ET Q q 0 0 0 rg BT 305.86 247.10 Td (TWDE on ) Tj ET Q q 0 0 0 rg BT 349.18 247.10 Td (August 16, 2016. On June 22, 2016, the court ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 235.10 Td (granted in part ) Tj ET Q q 0 0 0 rg BT 110.63 235.10 Td (TWDE) Tj ET Q q 0 0 0 rg BT 142.29 235.10 Td (s motion to dismiss, and dismissed the contribution and equitable subrogation claims, but denied the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 223.10 Td (motion as to Meriter) Tj ET Q q 0 0 0 rg BT 132.30 223.10 Td () Tj ET Q q 0 0 0 rg BT 135.08 223.10 Td (s indemnification claim without prejudice to the right of any defendant to raise the issue again by later ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 211.10 Td (motion. On December 1, 2016, ) Tj ET Q q 0 0 0 rg BT 176.46 211.10 Td (TWDE and other defendants filed a motion for summary judgment, which will be heard on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 199.10 Td (March 9, 2017. Based on all of the information to date, and given the stage of the matter) Tj ET Q q 0 0 0 rg BT 402.83 199.10 Td (, ) Tj ET Q q 0 0 0 rg BT 407.65 199.10 Td (TWDE is currently unable to provide ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 187.10 Td (an estimate of the reasonably possible loss or range of loss. ) Tj ET Q q 0 0 0 rg BT 289.21 187.10 Td (TWDE disputes the allegations, and intends to defend the matter ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 175.10 Td (vigorously) Tj ET Q q 0 0 0 rg BT 92.13 175.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 94.63 175.10 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 154.10 Td (Elma Sanchez, et. al) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 131.37 154.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 133.10 Td (On ) Tj ET Q q 0 0 0 rg BT 64.17 133.10 Td (August 6, 2013, three individual plaintif) Tj ET Q q 0 0 0 rg BT 224.80 133.10 Td (fs filed a putative class action suit against the California Public Employees) Tj ET Q q 0 0 0 rg BT 526.48 133.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 121.10 Td (Retirement System \(CalPERS\) in Los ) Tj ET Q q 0 0 0 rg BT 209.71 121.10 Td (Angeles County Superior Court. On January 10, 2014, plaintif) Tj ET Q q 0 0 0 rg BT 458.67 121.10 Td (fs filed an amended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 109.10 Td (complaint, which added as defendants several members of CalPERS) Tj ET Q q 0 0 0 rg BT 326.13 109.10 Td ( Board of ) Tj ET Q q 0 0 0 rg BT 365.84 109.10 Td (Administration and three Legacy ) Tj ET Q q 0 0 0 rg BT 500.06 109.10 Td (T) Tj ET Q q 0 0 0 rg BT 505.47 109.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 531.67 109.10 Td (W) Tj ET Q q 0 0 0 rg BT 540.31 109.10 Td (atson ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 97.10 Td (entities, ) Tj ET Q q 0 0 0 rg BT 83.70 97.10 Td (T) Tj ET Q q 0 0 0 rg BT 89.11 97.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 115.31 97.10 Td (W) Tj ET Q q 0 0 0 rg BT 123.95 97.10 Td (atson & Co., ) Tj ET Q q 0 0 0 rg BT 176.83 97.10 Td (T) Tj ET Q q 0 0 0 rg BT 182.24 97.10 Td (owers Perrin, and ) Tj ET Q q 0 0 0 rg BT 254.81 97.10 Td (T) Tj ET Q q 0 0 0 rg BT 260.57 97.10 Td (illinghast-T) Tj ET Q q 0 0 0 rg BT 306.53 97.10 Td (owers Perrin \(T) Tj ET Q q 0 0 0 rg BT 371.92 97.10 Td (owers Perrin\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.90 97.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 76.10 Td (Plaintif) Tj ET Q q 0 0 0 rg BT 79.26 76.10 Td (fs) Tj ET Q q 0 0 0 rg BT 89.07 76.10 Td ( claims all relate to a self-funded, non-profit Long ) Tj ET Q q 0 0 0 rg BT 291.60 76.10 Td (T) Tj ET Q q 0 0 0 rg BT 297.01 76.10 Td (erm Care Program that CalPERS established in 1995 \(the L) Tj ET Q q 0 0 0 rg BT 537.44 76.10 Td (TC ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 64.10 Td (Program\). Plaintif) Tj ET Q q 0 0 0 rg BT 125.36 64.10 Td (fs) Tj ET Q q 0 0 0 rg BT 135.17 64.10 Td ( claims seek unspecified damages allegedly resulting from CalPERS) Tj ET Q q 0 0 0 rg BT 411.58 64.10 Td ( 2012 decision to implement in 2015 ) Tj ET Q endstream endobj 259 0 obj <> endobj 260 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.50 31.60 Td (129) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (and 2016 an 85 percent increase in the premium rates of certain of the long term care policies it issued between 1995 and 2004 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (\(the 85% Increase\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 134.67 730.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 709.10 Td (The amended complaint alleges claims against CalPERS for breach of contract and breach of fiduciary duty) Tj ET Q q 0 0 0 rg BT 480.59 709.10 Td (. It also includes a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 697.10 Td (single cause of action against ) Tj ET Q q 0 0 0 rg BT 169.50 697.10 Td (T) Tj ET Q q 0 0 0 rg BT 174.91 697.10 Td (owers Perrin for professional negligence relating to actuarial services ) Tj ET Q q 0 0 0 rg BT 454.35 697.10 Td (T) Tj ET Q q 0 0 0 rg BT 459.76 697.10 Td (owers Perrin provided to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 685.10 Td (CalPERS relating to the L) Tj ET Q q 0 0 0 rg BT 153.52 685.10 Td (TC Program between 1995 and 2004.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.49 685.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 664.10 Td (Plaintif) Tj ET Q q 0 0 0 rg BT 79.26 664.10 Td (fs principally allege that CalPERS mismanaged the L) Tj ET Q q 0 0 0 rg BT 291.91 664.10 Td (TC Program and its investment assets in multiple respects and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 652.10 Td (breached its contractual and fiduciary duties to plaintif) Tj ET Q q 0 0 0 rg BT 268.35 652.10 Td (fs and other class members by impermissibly imposing the 85% Increase ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 640.10 Td (to make up for investment losses. Plaintif) Tj ET Q q 0 0 0 rg BT 215.63 640.10 Td (fs also allege that ) Tj ET Q q 0 0 0 rg BT 287.65 640.10 Td (T) Tj ET Q q 0 0 0 rg BT 293.06 640.10 Td (owers Perrin recommended inadequate initial premium rates at the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 628.10 Td (outset of the L) Tj ET Q q 0 0 0 rg BT 107.12 628.10 Td (TC Program and used unspecified inappropriate assumptions in its annual valuations for CalPERS. Plaintif) Tj ET Q q 0 0 0 rg BT 534.66 628.10 Td (fs ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 616.10 Td (claim that ) Tj ET Q q 0 0 0 rg BT 92.03 616.10 Td (T) Tj ET Q q 0 0 0 rg BT 97.44 616.10 Td (owers Perrin) Tj ET Q q 0 0 0 rg BT 151.04 616.10 Td (s allegedly negligent acts and omissions, prior to the end of its retainer in 2004, contributed to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 604.10 Td (need for the 85% Increase.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 156.89 604.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 583.10 Td (In May 2014, the court denied the motions to dismiss filed by CalPERS and ) Tj ET Q q 0 0 0 rg BT 356.18 583.10 Td (T) Tj ET Q q 0 0 0 rg BT 361.59 583.10 Td (owers Perrin addressed to the suf) Tj ET Q q 0 0 0 rg BT 493.88 583.10 Td (ficiency of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 571.10 Td (complaint. On January 28, 2016, the court granted plaintif) Tj ET Q q 0 0 0 rg BT 287.26 571.10 Td (fs) Tj ET Q q 0 0 0 rg BT 297.07 571.10 Td ( motion for class certification. ) Tj ET Q q 0 0 0 rg BT 419.63 571.10 Td (The certified class as currently ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 559.10 Td (defined includes those long term care policy holders whose policies were subject to the 85% Increase. ) Tj ET Q q 0 0 0 rg BT 468.84 559.10 Td (The court thereafter set ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 547.10 Td (an October 2, 2017 trial date.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 166.90 547.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (In May 2016, the case was reassigned to a dif) Tj ET Q q 0 0 0 rg BT 231.99 526.10 Td (ferent judge. ) Tj ET Q q 0 0 0 rg BT 287.34 526.10 Td (The court agreed that ) Tj ET Q q 0 0 0 rg BT 374.89 526.10 Td (T) Tj ET Q q 0 0 0 rg BT 380.30 526.10 Td (owers Perrin may file a motion for summary ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (judgment which was initially scheduled to be heard on February 3, 2017. ) Tj ET Q q 0 0 0 rg BT 344.20 514.10 Td (The hearing date was thereafter moved to March 8, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (2017, and the motion at this time has been fully briefed. In the event summary judgment is denied, the court has also agreed to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td (consider potential motions by ) Tj ET Q q 0 0 0 rg BT 170.91 490.10 Td (T) Tj ET Q q 0 0 0 rg BT 176.32 490.10 Td (owers Perrin and CalPERS to decertify or modify the class.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.05 490.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 469.10 Td (Based on all of the information to date, and given the stage of the matter) Tj ET Q q 0 0 0 rg BT 339.23 469.10 Td (, the Company is currently unable to provide an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 457.10 Td (estimate of the reasonably possible loss or range of loss. ) Tj ET Q q 0 0 0 rg BT 277.27 457.10 Td (The Company disputes the allegations and intends to continue to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 445.10 Td (defend the lawsuit vigorously) Tj ET Q q 0 0 0 rg BT 167.94 445.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 170.44 445.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 424.10 Td (Note 14) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 82.49 424.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 97.49 424.10 Td (Supplementary Information for) Tj ET Q q 0 0 0 rg BT 232.86 424.10 Td ( Certain Balance Sheet ) Tj ET Q q 0 0 0 rg BT 332.29 424.10 Td (Accounts ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 374.24 424.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 403.10 Td (Additional details of specific balance sheet accounts are detailed below:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.94 403.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.10 Td (Accounts receivable, net consists of the following:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 349.60 392.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 349.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 349.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 349.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 322.60 392.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 322.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 322.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 322.60 58.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 349.6 m 500.5 349.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 349.6 m 562.5 349.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 349.6 m 500.5 349.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 349.6 m 562.5 349.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 322.6 m 500.5 322.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 309.6 m 500.5 309.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 307.6 m 500.5 307.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 322.6 m 562.5 322.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 309.6 m 562.5 309.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 307.6 m 562.5 307.6 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 447.75 361.83 Td (December 31,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 463.00 353.83 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 509.75 361.83 Td (December 31,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 525.00 353.83 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 340.17 Td (Billed, net of provision for doubtful accounts of $40 million and $22 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 340.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.15 340.17 Td (1,789) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 340.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 340.17 Td (1,051) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 326.17 Td (Accrued and unbilled, at estimated net realizable value) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 326.17 Td (291) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 326.17 Td (207) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 313.17 Td (Accounts receivable, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 313.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.15 313.17 Td (2,080) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 313.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 313.17 Td (1,258) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 290.10 Td (Accounts receivable are stated at estimated net realizable values. ) Tj ET Q q 0 0 0 rg BT 311.36 290.10 Td (The provisions shown below as of the end of each period, are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 278.10 Td (recorded as the amounts considered by management to be suf) Tj ET Q q 0 0 0 rg BT 295.57 278.10 Td (ficient to meet probable future losses related to uncollectible ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 266.10 Td (accounts.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 233.60 330.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 233.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 233.60 4.00 -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 50.50 206.60 330.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 206.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 206.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 206.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 206.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 206.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 178.60 330.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 178.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 178.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 178.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 178.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 178.60 58.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 233.60000000000002 m 438.5 233.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 233.60000000000002 m 500.5 233.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 233.60000000000002 m 562.5 233.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 233.60000000000002 m 438.5 233.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 233.60000000000002 m 500.5 233.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 233.60000000000002 m 562.5 233.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 164.60000000000002 m 438.5 164.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 164.60000000000002 m 500.5 164.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 164.60000000000002 m 562.5 164.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 151.60000000000002 m 438.5 151.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 149.60000000000002 m 438.5 149.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 151.60000000000002 m 500.5 151.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 149.60000000000002 m 500.5 149.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 151.60000000000002 m 562.5 151.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 149.60000000000002 m 562.5 149.60000000000002 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 385.75 245.83 Td (December 31,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 401.00 237.83 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 447.75 245.83 Td (December 31,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 463.00 237.83 Td (2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 509.75 245.83 Td (December 31,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 525.00 237.83 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 224.17 Td (Balance at beginning of year) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 224.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 224.17 Td (22) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 224.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 224.17 Td (12) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 224.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 224.17 Td (13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 211.17 Td (Additions charged to costs and expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 211.17 Td (36) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.65 211.17 Td (5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 211.17 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 197.17 Td (Charges to other accounts - acquisitions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.65 197.17 Td (8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 197.17 Td (11) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 197.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 183.17 Td (Deductions / other movements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.30 183.22 Td (\(27) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 183.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.30 183.22 Td (\(7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 183.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 183.22 Td (\(6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 183.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 169.17 Td (Foreign exchange differences) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.65 169.17 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.65 169.17 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 169.17 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 155.17 Td (Balance at end of year) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 155.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 155.17 Td (40) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 155.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 155.17 Td (22) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 155.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 155.17 Td (12) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 261 0 obj <> endobj 262 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.50 31.60 Td (130) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (Prepaid and other current assets consist of the following:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 709.60 392.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 709.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 709.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 709.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 682.60 392.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 682.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 682.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 682.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 654.60 392.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 654.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 654.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 654.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 626.60 392.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 626.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 626.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 626.60 58.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 709.6 m 500.5 709.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 709.6 m 562.5 709.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 709.6 m 500.5 709.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 709.6 m 562.5 709.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 626.6 m 500.5 626.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 626.6 m 562.5 626.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 613.6 m 500.5 613.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 611.6 m 500.5 611.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 613.6 m 562.5 613.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 611.6 m 562.5 611.6 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 447.75 721.83 Td (December 31,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 463.00 713.83 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 509.75 721.83 Td (December 31,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 525.00 713.83 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 700.17 Td (Prepayments and accrued income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 700.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 700.17 Td (131) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 700.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 700.17 Td (86) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 687.17 Td (Derivatives and investments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 687.17 Td (32) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 687.17 Td (29) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 673.17 Td (Deferred compensation plan assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 673.17 Td (15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 673.17 Td (20) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 659.17 Td (Retention incentives) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.65 659.17 Td (7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 659.17 Td (14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 645.17 Td (Corporate income and other taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 645.17 Td (97) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 645.17 Td (66) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 631.17 Td (Other current assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 631.17 Td (55) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 631.17 Td (40) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 617.17 Td (Total prepaid and other current assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 617.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 617.17 Td (337) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 617.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 617.17 Td (255) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 592.10 Td (Other non-current assets consist of the following:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 559.60 392.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 559.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 559.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 559.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 532.60 392.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 532.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 532.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 532.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 504.60 392.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 504.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 504.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 504.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 476.60 392.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 476.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 476.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 476.60 58.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 559.6 m 500.5 559.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 559.6 m 562.5 559.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 559.6 m 500.5 559.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 559.6 m 562.5 559.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 476.6 m 500.5 476.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 476.6 m 562.5 476.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 463.6 m 500.5 463.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 461.6 m 500.5 461.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 463.6 m 562.5 463.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 461.6 m 562.5 461.6 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 447.75 571.83 Td (December 31,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 463.00 563.83 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 509.75 571.83 Td (December 31,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 525.00 563.83 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 550.17 Td (Prepayments and accrued income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 550.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 550.17 Td (15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 550.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 550.17 Td (23) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 537.17 Td (Deferred compensation plan assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 537.17 Td (111) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 537.17 Td (102) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 523.17 Td (Deferred tax assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 523.17 Td (50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 523.17 Td (76) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 509.17 Td (Accounts receivable, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 509.17 Td (27) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 509.17 Td (30) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 495.17 Td (Other investments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 495.17 Td (30) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 495.17 Td (42) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 481.17 Td (Other non-current assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 481.17 Td (120) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 481.17 Td (25) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 467.17 Td (Total other non-current assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 467.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 467.17 Td (353) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 467.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 467.17 Td (298) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (Other current liabilities consist of the following:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 409.60 392.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 409.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 409.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 409.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 382.60 392.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 382.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 382.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 382.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 354.60 392.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 354.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 354.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 354.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 326.60 392.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 326.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 326.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 326.60 58.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 409.6 m 500.5 409.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 409.6 m 562.5 409.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 409.6 m 500.5 409.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 409.6 m 562.5 409.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 312.6 m 500.5 312.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 312.6 m 562.5 312.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 299.6 m 500.5 299.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 297.6 m 500.5 297.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 299.6 m 562.5 299.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 297.6 m 562.5 297.6 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 447.75 421.83 Td (December 31,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 463.00 413.83 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 509.75 421.83 Td (December 31,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 525.00 413.83 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 400.17 Td (Accounts payable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 400.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 400.17 Td (117) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 400.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 400.17 Td (75) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 387.17 Td (Income and other taxes payable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 387.17 Td (91) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 387.17 Td (45) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 373.17 Td (Contingent and deferred consideration on acquisition) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 373.17 Td (53) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 373.17 Td (68) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 359.17 Td (Payroll related liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 359.17 Td (200) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 359.17 Td (82) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 345.17 Td (Derivatives) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 345.17 Td (80) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 345.17 Td (31) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 331.17 Td (Third party commissions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 331.17 Td (184) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 331.17 Td (177) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 317.17 Td (Other current liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 317.17 Td (151) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 317.17 Td (125) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 303.17 Td (Total other current liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 303.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 303.17 Td (876) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 303.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 303.17 Td (603) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 278.10 Td (Provision for liabilities consists of the following:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 245.60 392.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 245.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 245.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 245.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 218.60 392.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 218.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 218.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 218.60 58.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 245.60000000000002 m 500.5 245.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 245.60000000000002 m 562.5 245.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 245.60000000000002 m 500.5 245.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 245.60000000000002 m 562.5 245.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 218.60000000000002 m 500.5 218.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 218.60000000000002 m 562.5 218.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 205.60000000000002 m 500.5 205.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 203.60000000000002 m 500.5 203.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 205.60000000000002 m 562.5 205.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 203.60000000000002 m 562.5 203.60000000000002 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 447.75 257.83 Td (December 31,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 463.00 249.83 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 509.75 257.83 Td (December 31,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 525.00 249.83 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 236.17 Td (Claims, lawsuits and other proceedings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 236.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 236.17 Td (456) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 236.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 236.17 Td (205) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 223.17 Td (Other provisions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 223.17 Td (119) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 223.17 Td (90) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 209.17 Td (Total provision for liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 209.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 209.17 Td (575) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 209.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 209.17 Td (295) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 184.10 Td (Other non-current liabilities consist of the following:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 151.60 392.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 151.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 151.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 151.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 124.60 392.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 124.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 124.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 124.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 96.60 392.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 96.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 96.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 96.60 58.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 151.60000000000002 m 500.5 151.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 151.60000000000002 m 562.5 151.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 151.60000000000002 m 500.5 151.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 151.60000000000002 m 562.5 151.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 82.60000000000002 m 500.5 82.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 68.60000000000002 m 500.5 68.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 66.60000000000002 m 500.5 66.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 82.60000000000002 m 562.5 82.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 68.60000000000002 m 562.5 68.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 66.60000000000002 m 562.5 66.60000000000002 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 447.75 163.83 Td (December 31,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 463.00 155.83 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 509.75 163.83 Td (December 31,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 525.00 155.83 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 142.17 Td (Incentives from lessors) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 142.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 142.17 Td (133) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 142.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 142.17 Td (175) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 129.17 Td (Deferred compensation plan liability) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 129.17 Td (111) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 129.17 Td (102) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 115.17 Td (Contingent and deferred consideration on acquisitions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 115.17 Td (89) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 115.17 Td (156) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 101.17 Td (Derivatives) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 101.17 Td (51) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 101.17 Td (27) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 87.17 Td (Other non-current liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 87.17 Td (148) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 87.17 Td (73) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 72.27 Td (Total other non-current liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 72.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 72.27 Td (532) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 72.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 72.27 Td (533) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 263 0 obj <> endobj 264 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.50 31.60 Td (131) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (Note 15 Other) Tj ET Q q 0 0 0 rg BT 122.86 742.25 Td ( Expense/\(Income\), Net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 721.25 Td (Other expense/\(income\), net consists of the following:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 267.45 721.25 Td ( ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 677.75 330.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 677.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 677.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 677.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 677.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 677.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 647.75 330.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 647.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 647.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 647.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 647.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 647.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 617.75 330.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 617.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 617.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 617.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 617.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 617.75 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 380.5 692.75 m 438.5 692.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 677.75 m 438.5 677.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 692.75 m 442.5 692.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 692.75 m 500.5 692.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 677.75 m 500.5 677.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500.5 692.75 m 504.5 692.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 692.75 m 562.5 692.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 677.75 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 380.5 617.75 m 438.5 617.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 603.75 m 438.5 603.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 601.75 m 438.5 601.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 617.75 m 500.5 617.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 603.75 m 500.5 603.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 601.75 m 500.5 601.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 617.75 m 562.5 617.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 603.75 m 562.5 603.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 601.75 m 562.5 601.75 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 425.95 696.98 Td (Years ended December31,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 401.00 681.98 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 463.00 681.98 Td (2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 525.00 681.98 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 667.42 Td (Gain on disposal of operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 667.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.30 667.47 Td (\(2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 667.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 667.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.30 667.47 Td (\(25) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 667.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 667.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 667.47 Td (\(12) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 667.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 652.42 Td (Gain on remeasurement of equity interests ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 225.17 656.95 Td (\(i\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 652.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.30 652.47 Td (\(59) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 652.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 652.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 637.42 Td (Impact of ) Tj ET Q q 0 0 0 rg BT 93.91 637.42 Td (V) Tj ET Q q 0 0 0 rg BT 100.03 637.42 Td (enezuelan currency devaluation ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 229.12 641.95 Td (\(ii\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 637.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 637.42 Td (30) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 637.42 Td (14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 622.42 Td (Foreign exchange loss/\(gain\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 622.42 Td (29) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.30 622.47 Td (\(1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 622.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 622.47 Td (\(8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 622.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 607.42 Td (Other expense/\(income\), net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 607.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 607.42 Td (27) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 607.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.30 607.47 Td (\(55) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 607.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 607.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 607.47 Td (\(6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 607.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 591.25 Td (____________________) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 150.00 591.25 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 578.65 Td (\(i\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 81.50 578.65 Td (Prior to the acquisition date, the Company accounted for its ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 274.12 578.65 Td (30%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 288.79 578.65 Td ( interest in Gras Savoye as an equity-method investment. ) Tj ET Q q 0 0 0 rg BT 473.04 578.65 Td (The acquisition-date fair ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 81.50 569.05 Td (value of the previously held equity interest was ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 234.79 569.05 Td ($158 million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 275.91 569.05 Td ( and is included in the measurement of the consideration transferred. ) Tj ET Q q 0 0 0 rg BT 497.02 569.05 Td (The Company ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 81.50 559.45 Td (recognized a gain of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 148.58 559.45 Td ($59 million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 185.69 559.45 Td ( as a result of remeasuring its prior equity interest in Gras Savoye held before the business combination.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 518.50 559.45 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 546.85 Td (\(ii\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 81.50 546.85 Td (On December 31, 2015 the Company began using the SIMADI rate for the ) Tj ET Q q 0 0 0 rg BT 322.63 546.85 Td (V) Tj ET Q q 0 0 0 rg BT 327.52 546.85 Td (enezuelan Bolivar \(approximately ) Tj ET Q q 0 0 0 rg BT 438.22 546.85 Td (V) Tj ET Q q 0 0 0 rg BT 443.11 546.85 Td (enezuelan bolivars 198.7 = U.S. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 81.50 537.25 Td (dollar 1\) instead of the SICAD I auction rate \(approximately ) Tj ET Q q 0 0 0 rg BT 276.85 537.25 Td (V) Tj ET Q q 0 0 0 rg BT 281.74 537.25 Td (enezuelan bolivars 13.5 = U.S. dollar 1\) to translate on ) Tj ET Q q 0 0 0 rg BT 458.73 537.25 Td (V) Tj ET Q q 0 0 0 rg BT 463.62 537.25 Td (enezuelan retail operations. In ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 81.50 527.65 Td (March 2016, the DICOM mechanism replaced the SIMADI mechanism. ) Tj ET Q q 0 0 0 rg BT 314.55 527.65 Td (At December 31, 2016, the DICOM rate was approximately ) Tj ET Q q 0 0 0 rg BT 508.36 527.65 Td (V) Tj ET Q q 0 0 0 rg BT 513.25 527.65 Td (enezuelan ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 81.50 518.05 Td (bolivars 673 = U.S. dollar 1. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 174.67 518.05 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 497.05 Td (Note 16 ) Tj ET Q q 0 0 0 rg BT 96.94 497.05 Td (Accumulated Other) Tj ET Q q 0 0 0 rg BT 181.46 497.05 Td ( Compr) Tj ET Q q 0 0 0 rg BT 214.34 497.05 Td (ehensive Loss ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.05 Td (The components of other comprehensive income/\(loss\) are as follows:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.03 478.05 Td ( ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 416.55 165.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 214.50 416.55 35.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 249.50 416.55 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 253.50 416.55 35.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 288.50 416.55 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 292.50 416.55 35.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 327.50 416.55 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 331.50 416.55 35.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.50 416.55 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.50 416.55 35.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.50 416.55 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 416.55 35.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 444.50 416.55 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.50 416.55 35.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 416.55 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 416.55 35.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 522.50 416.55 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 526.50 416.55 35.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 389.55 165.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 214.50 389.55 35.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 249.50 389.55 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 253.50 389.55 35.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 288.50 389.55 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 292.50 389.55 35.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 327.50 389.55 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 331.50 389.55 35.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.50 389.55 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.50 389.55 35.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.50 389.55 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 389.55 35.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 444.50 389.55 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.50 389.55 35.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 389.55 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 389.55 35.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 522.50 389.55 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 526.50 389.55 35.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 361.55 165.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 214.50 361.55 35.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 249.50 361.55 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 253.50 361.55 35.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 288.50 361.55 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 292.50 361.55 35.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 327.50 361.55 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 331.50 361.55 35.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.50 361.55 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.50 361.55 35.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.50 361.55 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 361.55 35.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 444.50 361.55 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.50 361.55 35.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 361.55 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 361.55 35.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 522.50 361.55 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 526.50 361.55 35.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 326.55 165.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 214.50 326.55 35.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 249.50 326.55 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 253.50 326.55 35.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 288.50 326.55 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 292.50 326.55 35.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 327.50 326.55 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 331.50 326.55 35.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.50 326.55 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.50 326.55 35.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.50 326.55 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 326.55 35.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 444.50 326.55 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.50 326.55 35.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 326.55 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 326.55 35.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 522.50 326.55 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 526.50 326.55 35.00 -21.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 214.5 446.55 m 249.5 446.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 249.5 446.55 m 253.5 446.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 446.55 m 288.5 446.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 288.5 446.55 m 292.5 446.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292.5 446.55 m 327.5 446.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 331.5 446.55 m 366.5 446.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366.5 446.55 m 370.5 446.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370.5 446.55 m 405.5 446.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 405.5 446.55 m 409.5 446.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 446.55 m 444.5 446.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448.5 446.55 m 483.5 446.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 446.55 m 487.5 446.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 446.55 m 522.5 446.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 522.5 446.55 m 526.5 446.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 526.5 446.55 m 561.5 446.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 214.5 416.55 m 249.5 416.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 416.55 m 288.5 416.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292.5 416.55 m 327.5 416.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 331.5 416.55 m 366.5 416.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370.5 416.55 m 405.5 416.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 416.55 m 444.5 416.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448.5 416.55 m 483.5 416.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 416.55 m 522.5 416.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 526.5 416.55 m 561.5 416.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 214.5 361.55 m 249.5 361.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 361.55 m 288.5 361.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292.5 361.55 m 327.5 361.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 331.5 361.55 m 366.5 361.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370.5 361.55 m 405.5 361.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 361.55 m 444.5 361.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448.5 361.55 m 483.5 361.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 361.55 m 522.5 361.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 526.5 361.55 m 561.5 361.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 214.5 326.55 m 249.5 326.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 214.5 306.55 m 249.5 306.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 214.5 304.55 m 249.5 304.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 326.55 m 288.5 326.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 306.55 m 288.5 306.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 304.55 m 288.5 304.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292.5 326.55 m 327.5 326.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292.5 306.55 m 327.5 306.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292.5 304.55 m 327.5 304.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 331.5 326.55 m 366.5 326.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 331.5 306.55 m 366.5 306.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 331.5 304.55 m 366.5 304.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370.5 326.55 m 405.5 326.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370.5 306.55 m 405.5 306.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370.5 304.55 m 405.5 304.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 326.55 m 444.5 326.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 306.55 m 444.5 306.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 304.55 m 444.5 304.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448.5 326.55 m 483.5 326.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448.5 306.55 m 483.5 306.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448.5 304.55 m 483.5 304.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 326.55 m 522.5 326.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 306.55 m 522.5 306.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 304.55 m 522.5 304.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 526.5 326.55 m 561.5 326.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 526.5 306.55 m 561.5 306.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 526.5 304.55 m 561.5 304.55 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 238.25 450.78 Td (December 31, 2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 355.25 450.78 Td (December 31, 2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 472.25 450.78 Td (December 31, 2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 220.20 436.78 Td (Before) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 226.15 428.78 Td (tax) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 218.35 420.78 Td (amount) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 264.15 420.78 Td (Tax) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 299.15 436.78 Td (Net of) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 304.15 428.78 Td (tax) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 296.35 420.78 Td (amount) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 337.20 436.78 Td (Before) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 343.15 428.78 Td (tax) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 335.35 420.78 Td (amount) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 381.15 420.78 Td (Tax) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 416.15 436.78 Td (Net of) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 421.15 428.78 Td (tax) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 413.35 420.78 Td (amount) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 454.20 436.78 Td (Before) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 460.15 428.78 Td (tax) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 452.35 420.78 Td (amount) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 498.15 420.78 Td (Tax) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 533.15 436.78 Td (Net of) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 538.15 428.78 Td (tax) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 530.35 420.78 Td (amount) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 407.80 Td (Other comprehensive income/\(loss\):) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 393.80 Td (Foreign currency translation) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 217.00 394.01 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 229.15 394.01 Td (\(353) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 245.65 394.01 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 256.00 394.01 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 275.65 394.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 295.00 394.01 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 307.15 394.01 Td (\(353) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 323.65 394.01 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 334.00 394.01 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 346.15 394.01 Td (\(133) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 362.65 394.01 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 373.00 394.01 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 392.65 394.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 412.00 394.01 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 424.15 394.01 Td (\(133) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 440.65 394.01 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 451.00 394.01 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 463.15 394.01 Td (\(183) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 479.65 394.01 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 490.00 394.01 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 509.65 394.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 529.00 394.01 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 541.15 394.01 Td (\(183) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 557.65 394.01 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 379.80 Td (Defined pension and post-retirement benefits) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 229.15 380.01 Td (\(553) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 245.65 380.01 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 271.15 380.01 Td (114) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 307.15 380.01 Td (\(439) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 323.65 380.01 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 349.15 380.01 Td (233) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 389.65 380.01 Td (\(53) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 401.65 380.01 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 427.15 380.01 Td (180) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 463.15 380.01 Td (\(179) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 479.65 380.01 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 509.65 380.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 541.15 380.01 Td (\(179) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 557.65 380.01 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 365.80 Td (Derivative instruments) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 233.65 366.01 Td (\(87) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 245.65 366.01 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 275.65 366.01 Td (12) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 311.65 366.01 Td (\(75) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 323.65 366.01 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 350.65 366.01 Td (\(35) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 362.65 366.01 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 397.15 366.01 Td (7) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 428.65 366.01 Td (\(28) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 440.65 366.01 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 467.65 366.01 Td (\(21) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 479.65 366.01 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 514.15 366.01 Td (4) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 545.65 366.01 Td (\(17) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 557.65 366.01 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 351.80 Td (Other comprehensive income/\(loss\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 229.15 352.01 Td (\(993) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 245.65 352.01 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 271.15 352.01 Td (126) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 307.15 352.01 Td (\(867) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 323.65 352.01 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 353.65 352.01 Td (65) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 389.65 352.01 Td (\(46) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 401.65 352.01 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 431.65 352.01 Td (19) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 463.15 352.01 Td (\(383) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 479.65 352.01 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 514.15 352.01 Td (4) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 541.15 352.01 Td (\(379) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 557.65 352.01 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 338.80 Td (Less: Other comprehensive loss attributable to) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 65.50 330.80 Td (noncontrolling interests) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 236.65 331.01 Td (20) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 275.65 331.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 314.65 331.01 Td (20) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 353.65 331.01 Td (10) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 392.65 331.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 431.65 331.01 Td (10) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 475.15 331.01 Td (6) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 509.65 331.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 553.15 331.01 Td (6) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 317.80 Td (Other comprehensive income/\(loss\) attributable) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 65.50 309.80 Td (to Willis Towers Watson) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 217.00 310.01 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 229.15 310.01 Td (\(973) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 245.65 310.01 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 256.00 310.01 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 271.15 310.01 Td (126) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 295.00 310.01 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 307.15 310.01 Td (\(847) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 323.65 310.01 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 334.00 310.01 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 353.65 310.01 Td (75) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 373.00 310.01 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 389.65 310.01 Td (\(46) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 401.65 310.01 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 412.00 310.01 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 431.65 310.01 Td (29) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 451.00 310.01 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 463.15 310.01 Td (\(377) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 479.65 310.01 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 490.00 310.01 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 514.15 310.01 Td (4) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 529.00 310.01 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 541.15 310.01 Td (\(373) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 557.65 310.01 Td (\)) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 265 0 obj <> endobj 266 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.50 31.60 Td (132) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (The components of accumulated other comprehensive loss, net of tax, are as follows:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.45 742.10 Td ( ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 698.60 268.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 698.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 698.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 698.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 698.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 698.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 698.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 698.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 670.60 268.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 670.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 670.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 670.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 670.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 670.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 670.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 670.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 633.60 268.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 633.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 633.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 633.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 633.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 633.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 633.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 633.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 605.60 268.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 605.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 605.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 605.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 605.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 605.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 605.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 605.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 568.60 268.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 568.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 568.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 568.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 568.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 568.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 568.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 568.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 540.60 268.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 540.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 540.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 540.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 540.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 540.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 540.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 540.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 503.60 268.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 503.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 503.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 503.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 503.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 503.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 503.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 503.60 58.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 698.6 m 376.5 698.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 698.6 m 438.5 698.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 698.6 m 500.5 698.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 698.6 m 562.5 698.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 698.6 m 376.5 698.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 698.6 m 438.5 698.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 698.6 m 500.5 698.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 698.6 m 562.5 698.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 656.6 m 376.5 656.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 656.6 m 438.5 656.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 656.6 m 500.5 656.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 656.6 m 562.5 656.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 633.6 m 376.5 633.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 656.6 m 438.5 656.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 633.6 m 438.5 633.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 656.6 m 500.5 656.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 633.6 m 500.5 633.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 656.6 m 562.5 656.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 633.6 m 562.5 633.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 620.6 m 376.5 620.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 618.6 m 376.5 618.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 633.6 m 438.5 633.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 620.6 m 438.5 620.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 618.6 m 438.5 618.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 633.6 m 500.5 633.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 620.6 m 500.5 620.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 618.6 m 500.5 618.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 633.6 m 562.5 633.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 620.6 m 562.5 620.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 618.6 m 562.5 618.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 591.6 m 376.5 591.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 591.6 m 438.5 591.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 591.6 m 500.5 591.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 591.6 m 562.5 591.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 591.6 m 438.5 591.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 591.6 m 500.5 591.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 591.6 m 562.5 591.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 568.6 m 376.5 568.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 555.6 m 376.5 555.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 553.6 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 380.5 568.6 m 438.5 568.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 555.6 m 438.5 555.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 553.6 m 438.5 553.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 568.6 m 500.5 568.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 555.6 m 500.5 555.6 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 504.5 568.6 m 562.5 568.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 555.6 m 562.5 555.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 553.6 m 562.5 553.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 526.6 m 376.5 526.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 526.6 m 438.5 526.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 526.6 m 500.5 526.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 526.6 m 562.5 526.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 526.6 m 376.5 526.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 526.6 m 438.5 526.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 526.6 m 500.5 526.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 526.6 m 562.5 526.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 503.6 m 376.5 503.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 490.6 m 376.5 490.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 488.6 m 376.5 488.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 503.6 m 438.5 503.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 490.6 m 438.5 490.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 488.6 m 438.5 488.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 503.6 m 500.5 503.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 490.6 m 500.5 490.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 488.6 m 500.5 488.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 503.6 m 562.5 503.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 490.6 m 562.5 490.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 488.6 m 562.5 488.6 l s BT /F2 7.00 Tf ET q 0 0 0 rg BT 321.15 709.66 Td (For) Tj ET Q q 0 0 0 rg BT 331.91 709.66 Td (eign curr) Tj ET Q q 0 0 0 rg BT 359.19 709.66 Td (ency ) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 327.60 702.66 Td (translation ) Tj ET Q BT /F2 7.00 Tf ET BT /F2 4.55 Tf ET q 0 0 0 rg BT 362.02 705.83 Td (\(i\)) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 393.45 709.66 Td (Derivative ) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 388.05 702.66 Td (instruments ) Tj ET Q BT /F2 7.00 Tf ET BT /F2 4.55 Tf ET q 0 0 0 rg BT 425.58 705.83 Td (\(i\)) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 446.95 723.66 Td (Defined pension ) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 457.05 716.66 Td (and post-) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 455.15 709.66 Td (r) Tj ET Q q 0 0 0 rg BT 458.13 709.66 Td (etir) Tj ET Q q 0 0 0 rg BT 468.49 709.66 Td (ement ) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 455.65 702.66 Td (benefits ) Tj ET Q BT /F2 7.00 Tf ET BT /F2 4.55 Tf ET q 0 0 0 rg BT 480.73 705.83 Td (\(ii\)) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 525.30 702.66 Td (Total) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 689.06 Td (Balance, January 1, 2014) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 321.00 689.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 361.00 689.06 Td (\(14) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 373.00 689.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 383.00 689.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 426.00 689.06 Td (35) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 445.00 689.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 480.50 689.06 Td (\(714) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 497.00 689.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 507.00 689.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 542.50 689.06 Td (\(693) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.00 689.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 65.00 675.06 Td (Other comprehensive income/\(loss\) before reclassifications) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 356.50 675.06 Td (\(177) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 373.00 675.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 423.00 675.06 Td (\(25) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 435.00 675.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 480.50 675.06 Td (\(216) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 497.00 675.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 542.50 675.06 Td (\(418) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.00 675.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 65.00 661.06 Td (Amounts reclassified from accumulated other comprehensive income) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 364.00 661.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 430.50 661.06 Td (8) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 488.00 661.06 Td (37) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 550.00 661.06 Td (45) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 647.06 Td (Net current year other comprehensive income/\(loss\), net of tax and) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 68.00 638.06 Td (noncontrolling interests) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 356.50 638.06 Td (\(177) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 373.00 638.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 423.00 638.06 Td (\(17) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 435.00 638.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 480.50 638.06 Td (\(179) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 497.00 638.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 542.50 638.06 Td (\(373) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.00 638.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 624.06 Td (Balance, December31, 2014) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 321.00 624.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 356.50 624.06 Td (\(191) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 373.00 624.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 383.00 624.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 426.00 624.06 Td (18) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 445.00 624.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 480.50 624.06 Td (\(893) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 497.00 624.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 507.00 624.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 535.75 624.06 Td (\(1,066) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.00 624.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 65.00 610.06 Td (Other comprehensive income/\(loss\) before reclassifications) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 356.50 610.06 Td (\(123) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 373.00 610.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 423.00 610.06 Td (\(31) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 435.00 610.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 483.50 610.06 Td (158) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 554.50 610.06 Td (4) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 65.00 596.06 Td (Amounts reclassified from accumulated other comprehensive income) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 364.00 596.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 430.50 596.06 Td (3) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 488.00 596.06 Td (22) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 550.00 596.06 Td (25) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 582.06 Td (Net current year other comprehensive income/\(loss\), net of tax and) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 68.00 573.06 Td (noncontrolling interests) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 356.50 573.06 Td (\(123) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 373.00 573.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 423.00 573.06 Td (\(28) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 435.00 573.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 483.50 573.06 Td (180) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 550.00 573.06 Td (29) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 559.06 Td (Balance, December31, 2015) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 321.00 559.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 356.50 559.06 Td (\(314) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 373.00 559.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 383.00 559.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 423.00 559.06 Td (\(10) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 435.00 559.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 445.00 559.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 480.50 559.06 Td (\(713) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 497.00 559.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 507.00 559.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 535.75 559.06 Td (\(1,037) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.00 559.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 65.00 545.06 Td (Other comprehensive income/\(loss\) before reclassifications) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 356.50 545.06 Td (\(336) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 373.00 545.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 418.50 545.06 Td (\(110) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 435.00 545.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 480.50 545.06 Td (\(483) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 497.00 545.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 542.50 545.06 Td (\(929) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.00 545.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 65.00 531.06 Td (Amounts reclassified from accumulated other comprehensive income) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 364.00 531.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 426.00 531.06 Td (38) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 488.00 531.06 Td (44) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 550.00 531.06 Td (82) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 517.06 Td (Net current year other comprehensive income/\(loss\), net of tax and) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 68.00 508.06 Td (noncontrolling interests) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 356.50 508.06 Td (\(336) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 373.00 508.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 423.00 508.06 Td (\(72) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 435.00 508.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 480.50 508.06 Td (\(439) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 497.00 508.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 542.50 508.06 Td (\(847) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.00 508.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 494.06 Td (Balance, December 31, 2016) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 321.00 494.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 356.50 494.06 Td (\(650) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 373.00 494.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 383.00 494.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 423.00 494.06 Td (\(82) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 435.00 494.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 445.00 494.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 473.75 494.06 Td (\(1,152) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 497.00 494.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 507.00 494.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 535.75 494.06 Td (\(1,884) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.00 494.06 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (____________________) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 150.00 478.10 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 68.00 465.50 Td (\(i\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 465.50 Td (Reclassification adjustments from accumulated other comprehensive income are included in Other expense/\(income\), net of foreign currency ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 455.90 Td (translation and gains and losses on cash flow hedges. See ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 273.52 455.90 Td (Note 9) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 295.07 455.90 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 307.07 455.90 Td (Derivative Financial Instruments) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 412.37 455.90 Td ( for additional details regarding the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 446.30 Td (reclassification adjustments for the hedge settlements.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 258.84 446.30 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 68.00 433.70 Td (\(ii\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 433.70 Td (Reclassification adjustments from accumulated other comprehensive income are included in the computation of net periodic pension cost \(see ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 542.30 433.70 Td (Note ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 424.10 Td (12) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 94.00 424.10 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.00 424.10 Td (Retirement Benefits) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 170.20 424.10 Td (\) which is included in Salaries and benefits in the accompanying consolidated statements of operations) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 498.56 424.10 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 403.10 Td (Note 17) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 82.49 403.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 97.49 403.10 Td (Shar) Tj ET Q q 0 0 0 rg BT 117.87 403.10 Td (e-based Compensation) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 214.27 403.10 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 382.10 Td (Plan Summaries) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 118.63 382.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 361.10 Td (On ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.72 361.10 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 143.31 361.10 Td (, the Company had a number of open share-based compensation plans, which provide for the grant of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 349.10 Td (time-based and performance-based options, time-based and performance-based restricted stock units, and various other share-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 337.10 Td (based grants to employees. ) Tj ET Q q 0 0 0 rg BT 159.70 337.10 Td (All of the Company) Tj ET Q q 0 0 0 rg BT 242.19 337.10 Td (s share-based compensation plans under which any options, restricted stock ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 325.10 Td (units or other share-based grants are outstanding as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 267.99 325.10 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.58 325.10 Td ( are described below) Tj ET Q q 0 0 0 rg BT 428.39 325.10 Td (. ) Tj ET Q q 0 0 0 rg BT 433.21 325.10 Td (The compensation cost that has ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 313.10 Td (been recognized for those plans for the years ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 257.97 313.10 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.55 313.10 Td (, 2015 and 2014 was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.54 313.10 Td ($123 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.93 313.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.93 313.10 Td ($64 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.33 313.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.76 313.10 Td ($52 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 301.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.89 301.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 131.55 301.10 Td (. ) Tj ET Q q 0 0 0 rg BT 136.37 301.10 Td (The total income tax benefit recognized in the consolidated statement of operations for share-based ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 289.10 Td (compensation arrangements for the years ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.26 289.10 Td (December 31, 2016, 2015, and 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.78 289.10 Td ( was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.33 289.10 Td ($35 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.72 289.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.72 289.10 Td ($15 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.11 289.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.55 289.10 Td ($12 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 277.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.89 277.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 131.55 277.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 134.05 277.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 256.10 Td (2012 Equity Incentive Plan) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 159.13 256.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 235.10 Td (This ) Tj ET Q q 0 0 0 rg BT 69.23 235.10 Td (plan, ) Tj ET Q q 0 0 0 rg BT 90.39 235.10 Td (which ) Tj ET Q q 0 0 0 rg BT 116.28 235.10 Td (was ) Tj ET Q q 0 0 0 rg BT 133.28 235.10 Td (established ) Tj ET Q q 0 0 0 rg BT 179.16 235.10 Td (on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.29 235.10 Td (April25, ) Tj ET Q q 0 0 0 rg BT 227.84 235.10 Td (2012) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 247.84 235.10 Td (, ) Tj ET Q q 0 0 0 rg BT 251.79 235.10 Td (provides ) Tj ET Q q 0 0 0 rg BT 287.68 235.10 Td (for ) Tj ET Q q 0 0 0 rg BT 300.78 235.10 Td (the ) Tj ET Q q 0 0 0 rg BT 314.45 235.10 Td (granting ) Tj ET Q q 0 0 0 rg BT 349.22 235.10 Td (of ) Tj ET Q q 0 0 0 rg BT 359.00 235.10 Td (incentive ) Tj ET Q q 0 0 0 rg BT 397.10 235.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 419.65 235.10 Td (options, ) Tj ET Q q 0 0 0 rg BT 453.05 235.10 Td (time-based ) Tj ET Q q 0 0 0 rg BT 498.37 235.10 Td (or ) Tj ET Q q 0 0 0 rg BT 508.15 235.10 Td (performance-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 223.10 Td (based ) Tj ET Q q 0 0 0 rg BT 75.48 223.10 Td (non-statutory ) Tj ET Q q 0 0 0 rg BT 131.52 223.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 155.34 223.10 Td (options, ) Tj ET Q q 0 0 0 rg BT 190.00 223.10 Td (share ) Tj ET Q q 0 0 0 rg BT 213.81 223.10 Td (appreciation ) Tj ET Q q 0 0 0 rg BT 265.94 223.10 Td (rights, ) Tj ET Q q 0 0 0 rg BT 293.93 223.10 Td (restricted ) Tj ET Q q 0 0 0 rg BT 333.84 223.10 Td (shares, ) Tj ET Q q 0 0 0 rg BT 364.04 223.10 Td (time-based ) Tj ET Q q 0 0 0 rg BT 410.63 223.10 Td (or ) Tj ET Q q 0 0 0 rg BT 421.67 223.10 Td (performance-based ) Tj ET Q q 0 0 0 rg BT 501.00 223.10 Td (restricted ) Tj ET Q q 0 0 0 rg BT 540.91 223.10 Td (share ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 211.10 Td (units ) Tj ET Q q 0 0 0 rg BT 72.32 211.10 Td (\(RSUs\), ) Tj ET Q q 0 0 0 rg BT 114.35 211.10 Td (performance-based ) Tj ET Q q 0 0 0 rg BT 193.84 211.10 Td (awards ) Tj ET Q q 0 0 0 rg BT 225.03 211.10 Td (and ) Tj ET Q q 0 0 0 rg BT 242.34 211.10 Td (other ) Tj ET Q q 0 0 0 rg BT 265.75 211.10 Td (share-based ) Tj ET Q q 0 0 0 rg BT 315.82 211.10 Td (grants ) Tj ET Q q 0 0 0 rg BT 343.13 211.10 Td (or ) Tj ET Q q 0 0 0 rg BT 354.32 211.10 Td (any ) Tj ET Q q 0 0 0 rg BT 371.63 211.10 Td (combination ) Tj ET Q q 0 0 0 rg BT 424.49 211.10 Td (thereof ) Tj ET Q q 0 0 0 rg BT 455.67 211.10 Td (\(collectively ) Tj ET Q q 0 0 0 rg BT 508.52 211.10 Td (referred ) Tj ET Q q 0 0 0 rg BT 543.02 211.10 Td (to ) Tj ET Q q 0 0 0 rg BT 553.67 211.10 Td (as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 199.10 Td (A) Tj ET Q q 0 0 0 rg BT 59.63 199.10 Td (wards\) ) Tj ET Q q 0 0 0 rg BT 92.50 199.10 Td (to ) Tj ET Q q 0 0 0 rg BT 102.61 199.10 Td (employees, ) Tj ET Q q 0 0 0 rg BT 150.20 199.10 Td (of) Tj ET Q q 0 0 0 rg BT 158.35 199.10 Td (ficers, ) Tj ET Q q 0 0 0 rg BT 185.38 199.10 Td (non-employee ) Tj ET Q q 0 0 0 rg BT 244.91 199.10 Td (directors ) Tj ET Q q 0 0 0 rg BT 282.22 199.10 Td (and ) Tj ET Q q 0 0 0 rg BT 298.99 199.10 Td (consultants ) Tj ET Q q 0 0 0 rg BT 346.31 199.10 Td (\(Eligible ) Tj ET Q q 0 0 0 rg BT 386.96 199.10 Td (Individuals\) ) Tj ET Q q 0 0 0 rg BT 440.94 199.10 Td (of ) Tj ET Q q 0 0 0 rg BT 451.59 199.10 Td (the ) Tj ET Q q 0 0 0 rg BT 466.14 199.10 Td (Company) Tj ET Q q 0 0 0 rg BT 504.38 199.10 Td (. ) Tj ET Q q 0 0 0 rg BT 509.03 199.10 Td (The ) Tj ET Q q 0 0 0 rg BT 526.91 199.10 Td (Board ) Tj ET Q q 0 0 0 rg BT 553.67 199.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 187.10 Td (Directors ) Tj ET Q q 0 0 0 rg BT 89.71 187.10 Td (also ) Tj ET Q q 0 0 0 rg BT 108.32 187.10 Td (adopted ) Tj ET Q q 0 0 0 rg BT 142.47 187.10 Td (a ) Tj ET Q q 0 0 0 rg BT 149.41 187.10 Td (sub-plan ) Tj ET Q q 0 0 0 rg BT 186.35 187.10 Td (under ) Tj ET Q q 0 0 0 rg BT 211.62 187.10 Td (the ) Tj ET Q q 0 0 0 rg BT 226.33 187.10 Td (2012 ) Tj ET Q q 0 0 0 rg BT 248.83 187.10 Td (plan ) Tj ET Q q 0 0 0 rg BT 268.55 187.10 Td (to ) Tj ET Q q 0 0 0 rg BT 278.83 187.10 Td (provide ) Tj ET Q q 0 0 0 rg BT 311.88 187.10 Td (an ) Tj ET Q q 0 0 0 rg BT 323.81 187.10 Td (employee ) Tj ET Q q 0 0 0 rg BT 365.19 187.10 Td (sharesave ) Tj ET Q q 0 0 0 rg BT 406.55 187.10 Td (scheme ) Tj ET Q q 0 0 0 rg BT 439.04 187.10 Td (in ) Tj ET Q q 0 0 0 rg BT 449.32 187.10 Td (the ) Tj ET Q q 0 0 0 rg BT 464.03 187.10 Td (United ) Tj ET Q q 0 0 0 rg BT 493.75 187.10 Td (Kingdom.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.03 187.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 166.10 Td (There were approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 158.00 166.10 Td (9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 194.39 166.10 Td ( shares remaining available for grant under this plan as of December 31, 2016. Options are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 154.10 Td (exercisable on a variety of dates, including from the second, third, fourth or fifth anniversary of grant. Unless terminated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 142.10 Td (sooner by the Board of Directors, the 2012 Plan will expire ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.39 142.10 Td (10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.39 142.10 Td ( years after the date of its adoption. ) Tj ET Q q 0 0 0 rg BT 442.77 142.10 Td (That termination will not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 130.10 Td (af) Tj ET Q q 0 0 0 rg BT 57.59 130.10 Td (fect the validity of any grants outstanding at that date.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.08 130.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 109.10 Td (T) Tj ET Q q 0 0 0 rg BT 54.64 109.10 Td (owers W) Tj ET Q q 0 0 0 rg BT 88.45 109.10 Td (atson Shar) Tj ET Q q 0 0 0 rg BT 131.14 109.10 Td (e Plans) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 160.85 109.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 88.10 Td (In January 2016, in connection with the Mer) Tj ET Q q 0 0 0 rg BT 227.55 88.10 Td (ger) Tj ET Q q 0 0 0 rg BT 239.92 88.10 Td (, we assumed the ) Tj ET Q q 0 0 0 rg BT 310.56 88.10 Td (T) Tj ET Q q 0 0 0 rg BT 315.97 88.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 342.17 88.10 Td (W) Tj ET Q q 0 0 0 rg BT 350.81 88.10 Td (atson & Co. 2009 Long-T) Tj ET Q q 0 0 0 rg BT 453.71 88.10 Td (erm Incentive Plan ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 76.10 Td (\(L) Tj ET Q q 0 0 0 rg BT 61.85 76.10 Td (TIP\) and converted the outstanding unvested restricted stock units and options into ) Tj ET Q q 0 0 0 rg BT 398.82 76.10 Td (W) Tj ET Q q 0 0 0 rg BT 407.86 76.10 Td (illis ) Tj ET Q q 0 0 0 rg BT 425.19 76.10 Td (T) Tj ET Q q 0 0 0 rg BT 430.60 76.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 456.80 76.10 Td (W) Tj ET Q q 0 0 0 rg BT 465.43 76.10 Td (atson restricted stock ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 64.10 Td (units \(RSUs\) and options using a conversion ratio stated in the Mer) Tj ET Q q 0 0 0 rg BT 325.61 64.10 Td (ger ) Tj ET Q q 0 0 0 rg BT 340.33 64.10 Td (Agreement. ) Tj ET Q q 0 0 0 rg BT 389.57 64.10 Td (W) Tj ET Q q 0 0 0 rg BT 398.21 64.10 Td (e determined the fair value of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 52.10 Td (portion of the outstanding RSUs and options related to pre-acquisition employee service using the straight-line methodology ) Tj ET Q endstream endobj 267 0 obj <> endobj 268 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.50 31.60 Td (133) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (from date of grant to the acquisition date to be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 237.72 742.10 Td ($37 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.11 742.10 Td (, which was added to the transaction consideration. ) Tj ET Q q 0 0 0 rg BT 490.54 742.10 Td (The fair value of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (the remaining portion of RSUs and options related to the post-acquisition employee services was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.92 730.10 Td ($45 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.31 730.10 Td (, and will be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (recorded over the future vesting periods. For the year ended December 31, 2016, we recorded ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.08 718.10 Td ($31 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.47 718.10 Td ( of non-cash stock ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (based compensation.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 133.31 706.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 685.10 Td (The acquired awards include performance-vested restricted stock units. Under the RSU agreement, participants become vested ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 673.10 Td (in a number of RSUs based on the achievement of specified levels of financial performance during the performance period set ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 661.10 Td (forth in the Mer) Tj ET Q q 0 0 0 rg BT 113.41 661.10 Td (ger ) Tj ET Q q 0 0 0 rg BT 128.13 661.10 Td (Agreement, provided that the participant remains in continuous service with us through the end of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 649.10 Td (performance period. Dividend equivalents will accrue on these RSUs and vest to the same extent as the underlying shares. ) Tj ET Q q 0 0 0 rg BT 541.06 649.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 637.10 Td (Compensation Committee of the Board of Directors may provide for continuation of vesting of restricted stock units upon an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 625.10 Td (employee) Tj ET Q q 0 0 0 rg BT 91.65 625.10 Td (s termination under certain circumstances such as qualified retirement. ) Tj ET Q q 0 0 0 rg BT 376.36 625.10 Td (The definition of qualified retirement is age ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 613.10 Td (55 with 15 years of service with the Company and a minimum of one year of service in the performance period. Due to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 601.10 Td (terms of the RSU agreement, the achievement of the level of financial performance is determined at the higher of 100% or the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 589.10 Td (level attained at the time of the Mer) Tj ET Q q 0 0 0 rg BT 192.82 589.10 Td (ger) Tj ET Q q 0 0 0 rg BT 205.03 589.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 207.53 589.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 568.10 Td (The Company does not intend to grant future awards under the 2009 L) Tj ET Q q 0 0 0 rg BT 331.24 568.10 Td (TIP) Tj ET Q q 0 0 0 rg BT 345.86 568.10 Td ( plan.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.08 568.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 547.10 Td (Employee Stock Pur) Tj ET Q q 0 0 0 rg BT 130.71 547.10 Td (chase Plans) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 178.75 547.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (The Company adopted the ) Tj ET Q q 0 0 0 rg BT 158.13 526.10 Td (W) Tj ET Q q 0 0 0 rg BT 167.16 526.10 Td (illis Group Holdings 2010 North ) Tj ET Q q 0 0 0 rg BT 299.67 526.10 Td (America Employee Stock Purchase Plan, which expires on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (May31, 2020. ) Tj ET Q q 0 0 0 rg BT 110.65 514.10 Td (These plans provide certain eligible employees in the United States and Canada with the ability to contribute ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (payroll deductions to the purchase of ) Tj ET Q q 0 0 0 rg BT 200.33 502.10 Td (W) Tj ET Q q 0 0 0 rg BT 209.37 502.10 Td (illis ) Tj ET Q q 0 0 0 rg BT 226.69 502.10 Td (T) Tj ET Q q 0 0 0 rg BT 232.10 502.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 258.31 502.10 Td (W) Tj ET Q q 0 0 0 rg BT 266.94 502.10 Td (atson ordinary shares at the end of each of) Tj ET Q q 0 0 0 rg BT 435.59 502.10 Td (fering period.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.01 502.10 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 481.10 Td (Share-based Compensation V) Tj ET Q q 0 0 0 rg BT 171.13 481.10 Td (aluation ) Tj ET Q q 0 0 0 rg BT 207.72 481.10 Td (Assumptions) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 260.52 481.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 460.10 Td (Options) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 81.67 460.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 439.10 Td (The fair value of each option is estimated on the date of grant using the Black-Scholes option pricing model that uses the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 427.10 Td (assumptions noted in the following table. Expected volatility is based on historical volatility of the Company) Tj ET Q q 0 0 0 rg BT 488.26 427.10 Td (s shares. ) Tj ET Q q 0 0 0 rg BT 524.46 427.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 415.10 Td (Company uses the simplified method set out in ) Tj ET Q q 0 0 0 rg BT 239.99 415.10 Td (ASC 718 ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 286.94 415.10 Td ( Compensation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.72 415.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 357.22 415.10 Td (Stock Compensation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.15 415.10 Td ( to derive the expected term of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 403.10 Td (options granted as it does not have suf) Tj ET Q q 0 0 0 rg BT 202.85 403.10 Td (ficient historical exercise data to provide a reasonable basis upon which to estimate the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 391.10 Td (expected term. ) Tj ET Q q 0 0 0 rg BT 111.18 391.10 Td (The risk-free rate for periods within the expected life of the option is based on the U.S. ) Tj ET Q q 0 0 0 rg BT 461.17 391.10 Td (T) Tj ET Q q 0 0 0 rg BT 466.92 391.10 Td (reasury yield curve in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 379.10 Td (ef) Tj ET Q q 0 0 0 rg BT 57.59 379.10 Td (fect at the time of grant. ) Tj ET Q q 0 0 0 rg BT 155.98 379.10 Td (The assumptions noted in the table below represent the weighted-average of each assumption for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 367.10 Td (each grant during the year) Tj ET Q q 0 0 0 rg BT 153.84 367.10 Td (. ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 330.60 330.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 330.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 330.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 330.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 330.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 330.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 300.60 330.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 300.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 300.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 300.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 300.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 300.60 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 380.5 343.6 m 438.5 343.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 343.6 m 442.5 343.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 343.6 m 500.5 343.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500.5 343.6 m 504.5 343.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 343.6 m 562.5 343.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 343.6 m 438.5 343.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 330.6 m 438.5 330.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 343.6 m 500.5 343.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 330.6 m 500.5 330.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 343.6 m 562.5 343.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 330.6 m 562.5 330.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 330.6 m 500.5 330.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 330.6 m 562.5 330.6 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 215.00 347.85 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 425.95 347.83 Td (Years ended December31,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 215.00 334.85 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 401.00 334.83 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 463.00 334.83 Td (2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 525.00 334.83 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 320.27 Td (Expected volatility) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.15 320.27 Td (21.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.65 320.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.15 320.27 Td (17.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.65 320.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 320.27 Td (18.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 320.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 305.27 Td (Expected dividends) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.15 305.27 Td (1.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.65 305.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.15 305.27 Td (2.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.65 305.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 305.27 Td (2.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 305.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 290.27 Td (Expected life \(years\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 290.27 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.00 290.27 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.00 290.27 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 275.27 Td (Risk-free interest rate) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.15 275.27 Td (0.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.65 275.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.15 275.27 Td (1.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.65 275.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 275.27 Td (1.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 275.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 269 0 obj <> endobj 270 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.50 31.60 Td (134) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (Share-based Compensation ) Tj ET Q q 0 0 0 rg BT 165.20 742.25 Td (A) Tj ET Q q 0 0 0 rg BT 171.13 742.25 Td (ward ) Tj ET Q q 0 0 0 rg BT 193.82 742.25 Td (Activity) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 224.92 742.25 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 721.25 Td (Options) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 81.67 721.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 700.25 Td (Classification of options as time-based or performance-based is dependent on the original terms of the award. Performance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 688.25 Td (conditions on the majority of options have been met. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 262.74 688.25 Td (A) Tj ET Q q 0 0 0 rg BT 269.41 688.25 Td ( summary of option activity under the plans at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.31 688.25 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.90 688.25 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 676.25 Td (changes during the year then ended is presented below:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 616.75 268.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 616.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 616.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 616.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 616.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 616.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 616.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 616.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 588.75 268.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 588.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 588.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 588.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 588.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 588.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 588.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 588.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 560.75 268.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 560.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 560.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 560.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 560.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 560.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 560.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 560.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 532.75 268.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 532.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 532.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 532.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 532.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 532.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 532.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 532.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 504.75 268.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 504.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 504.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 504.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 504.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 504.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 504.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 504.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 476.75 268.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 476.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 476.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 476.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 476.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 476.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 476.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 476.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 448.75 268.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 448.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 448.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 448.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 448.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 448.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 448.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 448.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 420.75 268.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 420.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 420.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 420.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 420.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 420.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 420.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 420.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 392.75 268.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 392.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 392.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 392.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 392.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 392.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 392.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 392.75 58.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 616.75 m 376.5 616.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 616.75 m 438.5 616.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 616.75 m 500.5 616.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 616.75 m 562.5 616.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 518.75 m 376.5 518.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 505.75 m 376.5 505.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 503.75 m 376.5 503.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 406.75 m 376.5 406.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 393.75 m 376.5 393.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 391.75 m 376.5 391.75 l s BT /F2 9.00 Tf ET q 0 0 0 rg BT 390.70 651.20 Td (W) Tj ET Q q 0 0 0 rg BT 399.20 651.20 Td (eighted) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 393.30 642.20 Td (A) Tj ET Q q 0 0 0 rg BT 399.13 642.20 Td (verage) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 392.80 633.20 Td (Exer) Tj ET Q q 0 0 0 rg BT 411.13 633.20 Td (cise) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 452.70 657.15 Td (W) Tj ET Q q 0 0 0 rg BT 461.20 657.15 Td (eighted) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 455.30 648.15 Td (A) Tj ET Q q 0 0 0 rg BT 461.13 648.15 Td (verage) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 449.95 639.15 Td (Remaining) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 447.75 630.20 Td (Contractual) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 513.30 642.20 Td (Aggr) Tj ET Q q 0 0 0 rg BT 532.63 642.20 Td (egate) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 516.45 633.20 Td (Intrinsic) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 327.00 620.15 Td (Options ) Tj ET Q BT /F2 9.00 Tf ET BT /F2 5.85 Tf ET q 0 0 0 rg BT 359.76 624.23 Td (\(ii\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 396.20 620.15 Td (Price) Tj ET Q BT /F2 9.00 Tf ET BT /F2 5.85 Tf ET q 0 0 0 rg BT 416.18 624.23 Td (\(i\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 460.65 620.15 Td (Term) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 522.15 620.15 Td (Value) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 53.00 607.20 Td (Time-based stock options) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 593.21 Td (Balance as of December 31, 2015) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 352.75 593.21 Td (1,598) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 383.00 593.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 410.25 593.21 Td (100.99) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 65.00 579.21 Td (Acquired) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 364.00 579.21 Td (72) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 383.00 579.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 414.75 579.21 Td (18.26) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 65.00 565.21 Td (Granted) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 364.00 565.21 Td (71) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 383.00 565.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 410.25 565.21 Td (111.88) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 65.00 551.21 Td (Exercised) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 356.50 551.21 Td (\(459) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 373.00 551.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 383.00 551.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 414.75 551.21 Td (90.65) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 65.00 537.21 Td (Forfeited) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 361.00 537.21 Td (\(49) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 373.00 537.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 383.00 537.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 410.25 537.21 Td (100.38) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 65.00 523.21 Td (Expired) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 361.00 523.21 Td (\(32) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 373.00 523.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 383.00 523.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 414.75 523.21 Td (83.40) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 509.21 Td (Balance as of December 31, 2016) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 352.75 509.21 Td (1,201) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 383.00 509.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 410.25 509.21 Td (101.11) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 471.25 509.21 Td (4 years) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 507.00 509.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 550.00 509.21 Td (25) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 495.21 Td (Options vested or expected to vest at December 31, 2016) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 352.75 495.21 Td (1,197) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 383.00 495.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 410.25 495.21 Td (101.13) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 471.25 495.21 Td (4 years) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 507.00 495.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 550.00 495.21 Td (10) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 481.21 Td (Options exercisable at December31, 2016) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 359.50 481.21 Td (851) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 383.00 481.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 410.25 481.21 Td (100.46) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 471.25 481.21 Td (5 years) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 507.00 481.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 554.50 481.21 Td (8) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 53.00 467.20 Td (Performance-based stock options) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 453.21 Td (Balance as of December 31, 2015) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 359.50 453.21 Td (617) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 383.00 453.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 414.75 453.21 Td (88.65) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 65.00 439.21 Td (Acquired) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 359.50 439.21 Td (520) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 383.00 439.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 410.25 439.21 Td (110.69) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 65.00 425.21 Td (Exercised) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 356.50 425.21 Td (\(236) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 373.00 425.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 383.00 425.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 414.75 425.21 Td (85.97) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 65.00 411.21 Td (Forfeited) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 361.00 411.21 Td (\(18) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 373.00 411.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 383.00 411.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 410.25 411.21 Td (109.43) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 397.21 Td (Balance as of December 31, 2016) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 359.50 397.21 Td (883) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 383.00 397.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 410.25 397.21 Td (101.95) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 471.25 397.21 Td (4 years) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 507.00 397.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 550.00 397.21 Td (19) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 383.21 Td (Options vested or expected to vest at December31, 2016) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 359.50 383.21 Td (883) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 383.00 383.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 410.25 383.21 Td (102.03) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 471.25 383.21 Td (4 years) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 507.00 383.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 554.50 383.21 Td (6) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 369.21 Td (Options exercisable at December31, 2016) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 359.50 369.21 Td (432) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 383.00 369.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 414.75 369.21 Td (92.79) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 471.25 369.21 Td (2 years) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 507.00 369.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 554.50 369.21 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 353.25 Td (____________________) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 150.00 353.25 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 334.65 Td (\(i\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 81.50 334.65 Td (Certain options are exercisable in Pounds sterling and are converted to dollars using the exchange rate at December31, 2016.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 482.92 334.65 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 316.05 Td (\(ii\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 81.50 316.05 Td (The number of options outstanding and other per share data have been retroactively adjusted to reflect the reverse stock split on January 4, 2016. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 546.68 316.05 Td (See ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 81.50 306.45 Td (Note 3) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 103.05 306.45 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 115.05 306.45 Td (Mer) Tj ET Q q 0 0 0 rg BT 128.23 306.45 Td (ger and ) Tj ET Q q 0 0 0 rg BT 153.56 306.45 Td (Acquisitions) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 194.00 306.45 Td ( for further details. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 255.98 306.45 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 285.45 Td (The weighted average grant-date fair value of time-based options granted during the years ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.29 285.45 Td (December 31, 2016, 2015, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 273.45 Td (and 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.94 273.45 Td ( were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 111.37 273.45 Td ($16.88) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 138.87 273.45 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 143.87 273.45 Td ($14.77) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 171.37 273.45 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 193.31 273.45 Td ($14.12) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 220.81 273.45 Td (, respectively) Tj ET Q q 0 0 0 rg BT 273.47 273.45 Td (. ) Tj ET Q q 0 0 0 rg BT 278.29 273.45 Td (The total intrinsic value of options exercised during the years ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 261.45 Td (December 31, 2016, 2015, and 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 195.52 261.45 Td ( was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 216.07 261.45 Td ($25 million) Tj ET Q BT /F1 10.00 Tf ET 1 1 1 rg /GS0 gs 262.47 268.38 5.00 -9.09 re f /GS0 gs q 0 0 0 rg BT 262.47 261.45 Td (, ) Tj ET Q BT /F1 10.00 Tf ET 1 1 1 rg /GS0 gs 267.47 268.38 46.39 -9.09 re f /GS0 gs q 0 0 0 rg BT 267.47 261.45 Td ($17 million) Tj ET Q BT /F1 10.00 Tf ET 1 1 1 rg /GS0 gs 313.86 268.38 21.94 -9.09 re f /GS0 gs q 0 0 0 rg BT 313.86 261.45 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET 1 1 1 rg /GS0 gs 335.80 268.38 46.39 -9.09 re f /GS0 gs q 0 0 0 rg BT 335.80 261.45 Td ($22 million) Tj ET Q BT /F1 10.00 Tf ET 1 1 1 rg /GS0 gs 382.19 268.38 55.16 -9.09 re f /GS0 gs q 0 0 0 rg BT 382.19 261.45 Td (, respectively) Tj ET Q q 0 0 0 rg BT 434.85 261.45 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.35 261.45 Td ( ) Tj ET Q q 0 0 0 rg BT 439.30 261.45 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.80 261.45 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.38 261.45 Td ( there ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 249.45 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.05 249.45 Td ($4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 109.44 249.45 Td ( of total unrecognized compensation cost related to nonvested share-based compensation arrangements under ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 237.45 Td (time-based stock option plans; that cost is expected to be recognized over a weighted average period of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.13 237.45 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.13 237.45 Td ( years.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.23 237.45 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 216.45 Td (There were no performance-based options granted during the three years ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.58 216.45 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.17 216.45 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.17 216.45 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.17 216.45 Td ( or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.50 216.45 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.50 216.45 Td (. However) Tj ET Q q 0 0 0 rg BT 547.75 216.45 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 204.45 Td (520,295) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 82.50 204.45 Td ( performance-based options were acquired during the year ended December 31, 2016, at which time the performance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 192.45 Td (conditions were met. ) Tj ET Q q 0 0 0 rg BT 135.91 192.45 Td (The total intrinsic value of options exercised during the years ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.99 192.45 Td (December 31, 2016, 2015, and 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 555.51 192.45 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 180.45 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.05 180.45 Td ($9 million) Tj ET Q BT /F1 10.00 Tf ET 1 1 1 rg /GS0 gs 109.44 187.38 5.00 -9.09 re f /GS0 gs q 0 0 0 rg BT 109.44 180.45 Td (, ) Tj ET Q BT /F1 10.00 Tf ET 1 1 1 rg /GS0 gs 114.44 187.38 46.39 -9.09 re f /GS0 gs q 0 0 0 rg BT 114.44 180.45 Td ($25 million) Tj ET Q BT /F1 10.00 Tf ET 1 1 1 rg /GS0 gs 160.83 187.38 21.94 -9.09 re f /GS0 gs q 0 0 0 rg BT 160.83 180.45 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET 1 1 1 rg /GS0 gs 182.77 187.38 46.39 -9.09 re f /GS0 gs q 0 0 0 rg BT 182.77 180.45 Td ($15 million) Tj ET Q BT /F1 10.00 Tf ET 1 1 1 rg /GS0 gs 229.17 187.38 52.99 -9.09 re f /GS0 gs q 0 0 0 rg BT 229.17 180.45 Td (, respectively) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.83 180.45 Td (. ) Tj ET Q q 0 0 0 rg BT 286.27 180.45 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.77 180.45 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.36 180.45 Td ( there was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.40 180.45 Td ($1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.79 180.45 Td ( of total unrecognized ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 168.45 Td (compensation cost related to nonvested share-based compensation arrangements under performance-based stock option plans; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 156.45 Td (that cost is expected to be recognized over a weighted-average period of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.54 156.45 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.54 156.45 Td ( year) Tj ET Q q 0 0 0 rg BT 365.69 156.45 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.19 156.45 Td ( ) Tj ET Q endstream endobj 271 0 obj <> endobj 272 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.50 31.60 Td (135) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (Restricted Stock Units) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 138.87 742.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 721.10 Td (The fair value of each time-based restricted stock unit is based on the grant date fair value, or the fair value on the acquisition ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 709.10 Td (date in the case of acquired awards. ) Tj ET Q q 0 0 0 rg BT 194.75 709.10 Td (The fair value of each performance-based restricted stock unit is estimated on the grant ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 697.10 Td (date using a Monte-Carlo simulation that uses the assumptions noted in the following table. Expected volatility is based on the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 685.10 Td (historical volatility of the Company) Tj ET Q q 0 0 0 rg BT 195.53 685.10 Td (s shares. ) Tj ET Q q 0 0 0 rg BT 234.23 685.10 Td (The risk-free rate is based on the U.S. ) Tj ET Q q 0 0 0 rg BT 387.89 685.10 Td (T) Tj ET Q q 0 0 0 rg BT 393.65 685.10 Td (reasury yield curve in ef) Tj ET Q q 0 0 0 rg BT 490.64 685.10 Td (fect at the time of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 673.10 Td (the grant. ) Tj ET Q q 0 0 0 rg BT 92.58 673.10 Td (The assumptions noted in the table below represent the weighted-average of each assumption for each grant during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 661.10 Td (the year) Tj ET Q q 0 0 0 rg BT 81.37 661.10 Td (.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 636.60 454.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 636.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 607.60 454.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 607.60 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 504.5 636.6 m 562.5 636.6 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 523.00 641.28 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 627.17 Td (Expected volatility) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 627.17 Td (20.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 627.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 612.27 Td (Expected dividend yield) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 612.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 612.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 597.27 Td (Risk-free interest rate) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 597.27 Td (0.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 597.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 582.27 Td (Term of award \(years\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.50 582.27 Td (2.6) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 557.10 Td (A) Tj ET Q q 0 0 0 rg BT 56.67 557.10 Td ( summary of time-based and performance-based restricted stock unit activity under the Plans at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.88 557.10 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.46 557.10 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 545.10 Td (changes during the year then ended, is presented below:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 490.60 392.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 490.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 490.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 490.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 460.60 392.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 460.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 460.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 460.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 430.60 392.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 430.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 430.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 430.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 400.60 392.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 400.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 400.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 400.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 370.60 392.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 370.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 370.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 370.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 340.60 392.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 340.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 340.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 340.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 310.60 392.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 310.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 310.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 310.60 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 442.5 490.6 m 500.5 490.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 490.6 m 562.5 490.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 400.6 m 500.5 400.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 386.6 m 500.5 386.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 384.6 m 500.5 384.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 295.6 m 500.5 295.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 281.6 m 500.5 281.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 279.6 m 500.5 279.6 l s BT /F2 9.00 Tf ET q 0 0 0 rg BT 454.15 507.05 Td (Shar) Tj ET Q q 0 0 0 rg BT 472.49 507.05 Td (es ) Tj ET Q BT /F2 9.00 Tf ET BT /F2 5.85 Tf ET q 0 0 0 rg BT 482.24 511.13 Td (\(i\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 514.70 525.05 Td (Weighted) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 517.30 516.05 Td (Average) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 511.10 507.05 Td (GrantDate) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 448.45 494.00 Td (\(thousands\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 512.95 494.00 Td (Fair Value) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 53.00 480.05 Td (Nonvested shares \(time-based restricted stock units\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.00 480.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 465.06 Td (Balance, beginning of year) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 483.50 465.06 Td (666) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 507.00 465.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.25 465.06 Td (116.58) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 71.00 450.06 Td (Acquired) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 483.50 450.06 Td (220) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 507.00 450.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.25 450.06 Td (124.98) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 71.00 435.06 Td (Granted) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 488.00 435.06 Td (44) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 507.00 435.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.25 435.06 Td (121.97) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 71.00 420.06 Td (Vested) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 480.50 420.06 Td (\(460) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 497.00 420.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 507.00 420.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.25 420.06 Td (118.85) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 71.00 405.06 Td (Forfeited) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 485.00 405.06 Td (\(33) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 497.00 405.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 507.00 405.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.25 405.06 Td (116.33) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 390.06 Td (Balance, end of year) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 483.50 390.06 Td (437) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 507.00 390.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.25 390.06 Td (118.98) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 59.00 375.05 Td (Nonvested shares \(performance-based restricted stock units\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 360.06 Td (Balance, beginning of year) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 483.50 360.06 Td (662) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 507.00 360.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.25 360.06 Td (116.06) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 71.00 345.06 Td (Acquired) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 483.50 345.06 Td (235) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 507.00 345.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.25 345.06 Td (124.98) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 71.00 330.06 Td (Granted) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 483.50 330.06 Td (592) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 507.00 330.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.25 330.06 Td (124.66) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 71.00 315.06 Td (Vested) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 480.50 315.06 Td (\(259) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 497.00 315.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 507.00 315.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.25 315.06 Td (118.39) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 71.00 300.06 Td (Forfeited) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 485.00 300.06 Td (\(30) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 497.00 300.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 507.00 300.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.25 300.06 Td (106.61) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 285.06 Td (Balance, end of year) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 476.75 285.06 Td (1,200) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 507.00 285.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.25 285.06 Td (121.78) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 269.10 Td (____________________) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 150.00 269.10 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 250.50 Td (\(i\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 81.50 250.50 Td (The number of nonvested shares outstanding and other per share data have been retroactively adjusted to reflect the reverse stock split on January 4, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 81.50 240.90 Td (2016. See ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 115.05 240.90 Td (Note 3) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 136.60 240.90 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 148.60 240.90 Td (Mer) Tj ET Q q 0 0 0 rg BT 161.79 240.90 Td (ger and ) Tj ET Q q 0 0 0 rg BT 187.11 240.90 Td (Acquisitions) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 227.55 240.90 Td ( for further details. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 289.53 240.90 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 219.90 Td (The total number of time-based restricted stock units vested during the year ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.28 219.90 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.87 219.90 Td ( was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.42 219.90 Td (459,838) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.92 219.90 Td (shares at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 207.90 Td (an average share price of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 152.44 207.90 Td ($120.42) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 184.94 207.90 Td (. ) Tj ET Q q 0 0 0 rg BT 189.76 207.90 Td (The total number of time-based restricted stock units vested during the year ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 195.90 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.58 195.90 Td ( was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 149.14 195.90 Td (408,032) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 181.64 195.90 Td (shares at an average share price of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.78 195.90 Td ($1) Tj ET Q q 0 0 0 rg BT 333.41 195.90 Td (17.72) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.91 195.90 Td (.The total number of restricted stock units vested ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 183.90 Td (during the year ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 139.41 183.90 Td (December31, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 217.99 183.90 Td ( was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.54 183.90 Td (261,530) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 271.04 183.90 Td ( shares at an average share price of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.19 183.90 Td ($1) Tj ET Q q 0 0 0 rg BT 422.82 183.90 Td (16.97) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.32 183.90 Td (. ) Tj ET Q q 0 0 0 rg BT 452.27 183.90 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.77 183.90 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.35 183.90 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 171.90 Td (there was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.54 171.90 Td ($43 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 136.93 171.90 Td ( of total unrecognized compensation cost related to nonvested share-based compensation arrangements ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 159.90 Td (under the plan; that cost is expected to be recognized over a weighted average period of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.19 159.90 Td (1 year) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.34 159.90 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.84 159.90 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 138.90 Td (The total number of performance-based restricted stock units vested during the year ended December31, 2016 was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 126.90 Td (258,536) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 82.50 126.90 Td (shares at an average share price of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.64 126.90 Td ($1) Tj ET Q q 0 0 0 rg BT 234.27 126.90 Td (19.75) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.77 126.90 Td (. ) Tj ET Q q 0 0 0 rg BT 261.59 126.90 Td (The total number of performance-based restricted stock units vested ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 114.90 Td (during the year ended December31, 2015 was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.54 114.90 Td (63,180) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 266.04 114.90 Td (shares at an average share price of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.19 114.90 Td ($1) Tj ET Q q 0 0 0 rg BT 417.82 114.90 Td (17.88) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.32 114.90 Td (. ) Tj ET Q q 0 0 0 rg BT 445.14 114.90 Td (The total number of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 102.90 Td (performance-based restricted stock units vested during the year ended December31, 2014 was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.97 102.90 Td (62,216) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.47 102.90 Td ( shares at an average ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 90.90 Td (share price of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 106.91 90.90 Td ($1) Tj ET Q q 0 0 0 rg BT 116.54 90.90 Td (16.00) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 139.04 90.90 Td (. ) Tj ET Q q 0 0 0 rg BT 143.49 90.90 Td (At December31, 2016 there was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 277.61 90.90 Td ($54 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 324.00 90.90 Td ( of total unrecognized compensation cost related to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 78.90 Td (nonvested performance-based share-based compensation arrangements under the plan; that cost is expected to be recognized ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 66.90 Td (over a weighted average period of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 188.82 66.90 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 193.82 66.90 Td ( years. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 222.42 66.90 Td ( ) Tj ET Q endstream endobj 273 0 obj <> endobj 274 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.50 31.60 Td (136) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (Cash received from option exercises under all share-based payment arrangements for the years ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.61 742.10 Td (December 31, 2016, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (2015, and 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 111.94 730.10 Td ( was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 132.49 730.10 Td ($63 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 178.88 730.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 183.88 730.10 Td ($124 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 235.27 730.10 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 257.21 730.10 Td ($134 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.60 730.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 361.26 730.10 Td (. ) Tj ET Q q 0 0 0 rg BT 366.08 730.10 Td (The actual tax benefit recognized for the tax ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (deductions from option exercises of the share-based payment arrangements totaled ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.22 718.10 Td ($30 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.61 718.10 Td ( for the year ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.58 706.10 Td (. ) Tj ET Q q 0 0 0 rg BT 133.40 706.10 Td (The actual tax benefit recognized for the tax deductions from option exercises of the share-based payment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (arrangements totaled ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 136.07 694.10 Td ($25 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 182.47 694.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 201.90 694.10 Td ($20 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.30 694.10 Td ( for the years ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.65 694.10 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.23 694.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.67 694.10 Td (December31, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.25 694.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 558.92 694.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 561.42 694.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 673.10 Td (Note 18 Earnings Per) Tj ET Q q 0 0 0 rg BT 153.70 673.10 Td ( Shar) Tj ET Q q 0 0 0 rg BT 176.58 673.10 Td (e ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 652.10 Td (Basic and diluted earnings per share are calculated by dividing net income attributable to ) Tj ET Q q 0 0 0 rg BT 408.03 652.10 Td (W) Tj ET Q q 0 0 0 rg BT 417.07 652.10 Td (illis ) Tj ET Q q 0 0 0 rg BT 434.39 652.10 Td (T) Tj ET Q q 0 0 0 rg BT 439.80 652.10 Td (owers ) Tj ET Q q 0 0 0 rg BT 466.00 652.10 Td (W) Tj ET Q q 0 0 0 rg BT 474.64 652.10 Td (atson by the average ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 640.10 Td (number of ordinary shares outstanding during each period. ) Tj ET Q q 0 0 0 rg BT 286.70 640.10 Td (The computation of diluted earnings per share reflects the potential ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 628.10 Td (dilution that could occur if dilutive securities and other contracts to issue shares were exercised or converted into shares or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 616.10 Td (resulted in the issuance of shares that then shared in the net income of the Company) Tj ET Q q 0 0 0 rg BT 385.09 616.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.59 616.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 595.10 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.50 595.10 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 141.08 595.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 160.52 595.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 180.52 595.10 Td (,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 183.02 595.10 Td ( there were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 229.94 595.10 Td (1.2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.83 595.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.27 595.10 Td (1.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.16 595.10 Td ( time-based share options; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.36 595.10 Td (0.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.25 595.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.69 595.10 Td (0.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 551.58 595.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 583.10 Td (performance based options; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.02 583.10 Td (0.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 206.91 583.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 226.35 583.10 Td (0.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.24 583.10 Td ( restricted time-based share units; and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.08 583.10 Td (1.2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.97 583.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.41 583.10 Td (0.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.30 583.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 571.10 Td (restricted performance-based share units outstanding, respectively) Tj ET Q q 0 0 0 rg BT 313.70 571.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.20 571.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (Basic and diluted earnings per share are as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 513.60 326.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 513.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 513.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 513.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 513.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 513.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 513.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 484.60 326.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 484.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 484.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 484.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 484.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 484.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 484.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 456.60 326.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 456.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 456.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 456.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 456.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 456.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 456.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 428.60 326.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 428.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 428.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 428.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 428.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 428.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 428.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 400.60 326.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 400.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 400.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 400.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 400.60 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 400.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 400.60 58.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 526.6 m 438.5 526.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 526.6 m 442.5 526.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 526.6 m 500.5 526.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500.5 526.6 m 504.5 526.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 526.6 m 562.5 526.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 513.6 m 438.5 513.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 513.6 m 500.5 513.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 526.6 m 562.5 526.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 513.6 m 562.5 513.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 513.6 m 438.5 513.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 499.6 m 438.5 499.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 497.6 m 438.5 497.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 513.6 m 500.5 513.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 499.6 m 500.5 499.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 497.6 m 500.5 497.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 513.6 m 562.5 513.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 499.6 m 562.5 499.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 497.6 m 562.5 497.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 456.6 m 438.5 456.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 456.6 m 500.5 456.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 456.6 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 380.5 443.6 m 438.5 443.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 441.6 m 438.5 441.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 443.6 m 500.5 443.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 441.6 m 500.5 441.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 443.6 m 562.5 443.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 441.6 m 562.5 441.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 400.6 m 438.5 400.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 400.6 m 500.5 400.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 400.6 m 562.5 400.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 400.6 m 438.5 400.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 387.6 m 438.5 387.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 385.6 m 438.5 385.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 400.6 m 500.5 400.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 387.6 m 500.5 387.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 385.6 m 500.5 385.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 400.6 m 562.5 400.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 387.6 m 562.5 387.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 385.6 m 562.5 385.6 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 425.95 530.83 Td (Years ended December 31,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 401.00 517.83 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 460.50 517.83 Td (2015) Tj ET Q BT /F2 8.00 Tf ET BT /F2 5.20 Tf ET q 0 0 0 rg BT 476.50 521.46 Td (\(i\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 522.50 517.83 Td (2014) Tj ET Q BT /F2 8.00 Tf ET BT /F2 5.20 Tf ET q 0 0 0 rg BT 538.50 521.46 Td (\(i\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 503.27 Td (Net income attributable to Willis Towers Watson) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 503.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 503.27 Td (420) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 503.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 503.27 Td (373) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 503.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 503.27 Td (362) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 475.17 Td (Basic weighted average number of shares outstanding) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 475.17 Td (137) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 475.17 Td (68) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 475.17 Td (67) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 461.17 Td (Dilutive effect of potentially issuable shares) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.65 461.17 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.65 461.17 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 461.17 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 447.17 Td (Diluted weighted average number of shares outstanding) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 447.17 Td (138) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 447.17 Td (69) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 447.17 Td (68) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 419.17 Td (Basic earnings per share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 419.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.15 419.17 Td (3.07) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 419.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.15 419.17 Td (5.49) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 419.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 419.17 Td (5.40) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 405.17 Td (Dilutive effect of potentially issuable shares) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.80 405.22 Td (\(0.03) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 405.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.80 405.22 Td (\(0.08) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 405.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.80 405.22 Td (\(0.08) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 405.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 391.17 Td (Diluted earnings per share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 391.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.15 391.17 Td (3.04) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 391.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.15 391.17 Td (5.41) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 391.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 391.17 Td (5.32) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 375.10 Td (____________________) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 150.00 375.10 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 362.50 Td (\(i\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 81.50 362.50 Td (Shares outstanding, potentially issuable shares, basic and diluted earnings per share, and the dilutive ef) Tj ET Q q 0 0 0 rg BT 410.38 362.50 Td (fect of potentially issuable shares, for the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 544.11 362.50 Td (year ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 81.50 352.90 Td (ended ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 102.60 352.90 Td (December31, 2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 165.47 352.90 Td ( and 2015 have been retroactively adjusted to reflect the reverse stock split ef) Tj ET Q q 0 0 0 rg BT 412.56 352.90 Td (fected on January 4, 2016. See ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 514.53 352.90 Td (Note 3) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.08 352.90 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 81.50 343.30 Td (Mer) Tj ET Q q 0 0 0 rg BT 94.68 343.30 Td (ger and ) Tj ET Q q 0 0 0 rg BT 120.01 343.30 Td (Acquisitions) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 160.45 343.30 Td ( for further details.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 220.43 343.30 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.30 Td (Options to purchase ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 132.49 322.30 Td (0.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 176.38 322.30 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 181.38 322.30 Td (0.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.27 322.30 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 244.71 322.30 Td (0.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.60 322.30 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.10 322.30 Td (shares were not included in the computation of the dilutive ef) Tj ET Q q 0 0 0 rg BT 536.40 322.30 Td (fect ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.30 Td (of share options for the years ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 195.23 310.30 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.81 310.30 Td (, 2015 and 2014, respectively) Tj ET Q q 0 0 0 rg BT 390.91 310.30 Td (, because their ef) Tj ET Q q 0 0 0 rg BT 458.47 310.30 Td (fect was anti-dilutive.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.39 310.30 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.30 Td (Options to purchase ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 132.49 298.30 Td (nil) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 143.04 298.30 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 148.04 298.30 Td (0.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.93 298.30 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 213.87 298.30 Td (0.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 257.76 298.30 Td ( restricted stock units were not included in the computation of the dilutive ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.30 Td (ef) Tj ET Q q 0 0 0 rg BT 57.59 286.30 Td (fect of share options for the years ended December 31, 2016, 2015 and 2014, respectively) Tj ET Q q 0 0 0 rg BT 415.99 286.30 Td (, because their ef) Tj ET Q q 0 0 0 rg BT 483.54 286.30 Td (fect was anti-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.30 Td (dilutive. ) Tj ET Q q 0 0 0 rg BT 85.37 274.30 Td (The number of options for 2015 and 2014 has been retroactively adjusted to reflect the reverse stock split on January ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.30 Td (4, 2016. See ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 101.94 262.30 Td (Note 3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.88 262.30 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 143.88 262.30 Td (Mer) Tj ET Q q 0 0 0 rg BT 160.36 262.30 Td (ger and ) Tj ET Q q 0 0 0 rg BT 192.01 262.30 Td (Acquisitions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.57 262.30 Td ( for further details.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.54 262.30 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 241.30 Td (Note 19 Supplemental Disclosur) Tj ET Q q 0 0 0 rg BT 198.71 241.30 Td (es of Cash Flow Information) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 222.30 Td (Supplemental disclosures regarding cash flow information and non-cash investing and financing activities are as follows:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.87 222.30 Td ( ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 185.80 330.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 185.80 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 185.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 185.80 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 185.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 185.80 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 155.80 330.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 155.80 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 155.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 155.80 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 155.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 155.80 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 125.80 330.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 125.80 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 125.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 125.80 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 125.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 125.80 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 95.80 330.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 95.80 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 95.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 95.80 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 95.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 95.80 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 380.5 198.79999999999995 m 438.5 198.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 198.79999999999995 m 442.5 198.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 198.79999999999995 m 500.5 198.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500.5 198.79999999999995 m 504.5 198.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 198.79999999999995 m 562.5 198.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 198.79999999999995 m 438.5 198.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 185.79999999999995 m 438.5 185.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 198.79999999999995 m 500.5 198.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 185.79999999999995 m 500.5 185.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 198.79999999999995 m 562.5 198.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 185.79999999999995 m 562.5 185.79999999999995 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 425.05 203.03 Td (Years Ended December31,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 401.00 190.03 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 463.00 190.03 Td (2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 525.00 190.03 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 175.47 Td (Supplemental disclosures of cash flow information:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 160.47 Td (Cash payments for income taxes, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 160.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 160.47 Td (158) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 160.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 160.47 Td (91) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 160.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 160.47 Td (88) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 145.47 Td (Cash payments for interest) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 145.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 145.47 Td (143) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 145.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 145.47 Td (126) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 145.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 145.47 Td (123) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 130.47 Td (Cash acquired) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 130.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 130.47 Td (476) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 130.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 130.47 Td (148) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 130.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 130.47 Td (57) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 115.47 Td (Supplemental disclosures of non-cash investing and financing activities:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.00 115.47 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.00 115.47 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 100.47 Td (Issuance of shares and assumed awards in connection with the Merger) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 100.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.15 100.47 Td (8,723) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 100.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 100.47 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 100.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 100.47 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.50 85.47 Td (Fair value of deferred and contingent consideration related to acquisitions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 85.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 85.47 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 85.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 85.47 Td (204) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 85.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 85.47 Td (12) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 275 0 obj <> endobj 276 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.50 31.60 Td (137) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (Note 20 Quarterly Financial Data \(Unaudited\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 721.25 Td (Quarterly financial data for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 161.61 721.25 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 181.61 721.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 201.05 721.25 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 221.05 721.25 Td ( were as follows:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.09 721.25 Td ( ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 686.75 256.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.50 686.75 61.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 367.50 686.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.50 686.75 61.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 432.50 686.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.50 686.75 61.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 686.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 686.75 61.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 658.75 256.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.50 658.75 61.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 367.50 658.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.50 658.75 61.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 432.50 658.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.50 658.75 61.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 658.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 658.75 61.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 630.75 256.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.50 630.75 61.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 367.50 630.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.50 630.75 61.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 432.50 630.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.50 630.75 61.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 630.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 630.75 61.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 602.75 256.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.50 602.75 61.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 367.50 602.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.50 602.75 61.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 432.50 602.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.50 602.75 61.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 602.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 602.75 61.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 574.75 256.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.50 574.75 61.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 367.50 574.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.50 574.75 61.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 432.50 574.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.50 574.75 61.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 574.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 574.75 61.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 546.75 256.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.50 546.75 61.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 367.50 546.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.50 546.75 61.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 432.50 546.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.50 546.75 61.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 546.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 546.75 61.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 518.75 256.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.50 518.75 61.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 367.50 518.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.50 518.75 61.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 432.50 518.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.50 518.75 61.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 518.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 518.75 61.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 490.75 256.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.50 490.75 61.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 367.50 490.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.50 490.75 61.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 432.50 490.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.50 490.75 61.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 490.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 490.75 61.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 462.75 256.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.50 462.75 61.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 367.50 462.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.50 462.75 61.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 432.50 462.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.50 462.75 61.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 462.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 462.75 61.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 306.5 698.75 m 367.5 698.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 367.5 698.75 m 371.5 698.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 371.5 698.75 m 432.5 698.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432.5 698.75 m 436.5 698.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436.5 698.75 m 497.5 698.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 698.75 m 501.5 698.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501.5 698.75 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 306.5 686.75 m 367.5 686.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 371.5 686.75 m 432.5 686.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436.5 686.75 m 497.5 686.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501.5 686.75 m 562.5 686.75 l s BT /F1 9.00 Tf ET q 0 0 0 rg BT 178.00 702.01 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 393.05 702.15 Td (Three Months Ended) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 178.00 690.01 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 316.80 690.15 Td (March31,) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 385.45 690.15 Td (June30,) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 439.05 690.15 Td (September30,) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 505.30 690.15 Td (December31,) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 53.00 677.20 Td (2016) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 65.00 663.21 Td (Total revenues) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 309.00 663.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 343.75 663.21 Td (2,234) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 374.00 663.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 408.75 663.21 Td (1,949) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 439.00 663.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 473.75 663.21 Td (1,777) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 504.00 663.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 538.75 663.21 Td (1,927) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 65.00 649.21 Td (Total costs of providing services) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 309.00 649.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 343.75 649.21 Td (1,908) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 374.00 649.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 408.75 649.21 Td (1,813) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 439.00 649.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 473.75 649.21 Td (1,776) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 504.00 649.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 538.75 649.21 Td (1,839) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 65.00 635.21 Td (Income from operations) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 309.00 635.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 350.50 635.21 Td (326) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 374.00 635.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 415.50 635.21 Td (136) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 439.00 635.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 489.50 635.21 Td (1) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 504.00 635.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 550.00 635.21 Td (88) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 65.00 621.21 Td (Net income/\(loss\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 309.00 621.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 350.50 621.21 Td (245) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 374.00 621.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 420.00 621.21 Td (76) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 439.00 621.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 482.00 621.21 Td (\(31) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 494.00 621.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 504.00 621.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 545.50 621.21 Td (148) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 65.00 607.21 Td (Net income/\(loss\) attributable to Willis Towers Watson) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 309.00 607.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 350.50 607.21 Td (238) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 374.00 607.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 420.00 607.21 Td (72) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 439.00 607.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 482.00 607.21 Td (\(32) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 494.00 607.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 504.00 607.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 545.50 607.21 Td (142) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 65.00 593.21 Td (Earnings/\(loss\) per share) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 77.00 579.21 Td (Basic) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 309.00 579.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 348.25 579.21 Td (1.76) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 374.00 579.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 413.25 579.21 Td (0.52) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 439.00 579.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 475.25 579.21 Td (\(0.23) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 494.00 579.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 504.00 579.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 543.25 579.21 Td (1.04) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 77.00 565.21 Td (Diluted) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 309.00 565.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 348.25 565.21 Td (1.75) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 374.00 565.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 413.25 565.21 Td (0.51) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 439.00 565.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 475.25 565.21 Td (\(0.23) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 494.00 565.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 504.00 565.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 543.25 565.21 Td (1.03) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 53.00 551.20 Td (2015) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 65.00 537.21 Td (Total revenues) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 309.00 537.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 343.75 537.21 Td (1,087) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 374.00 537.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 415.50 537.21 Td (922) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 439.00 537.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 480.50 537.21 Td (846) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 504.00 537.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 545.50 537.21 Td (974) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 65.00 523.21 Td (Total costs of providing services) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 309.00 523.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 350.50 523.21 Td (794) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 374.00 523.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 415.50 523.21 Td (817) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 439.00 523.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 480.50 523.21 Td (819) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 504.00 523.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 545.50 523.21 Td (972) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 65.00 509.21 Td (Income from operations) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 309.00 509.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 350.50 509.21 Td (293) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 374.00 509.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 415.50 509.21 Td (105) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 439.00 509.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 485.00 509.21 Td (27) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 504.00 509.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 554.50 509.21 Td (2) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 65.00 495.21 Td (Net income/\(loss\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 309.00 495.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 350.50 495.21 Td (214) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 374.00 495.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 420.00 495.21 Td (72) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 439.00 495.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 480.50 495.21 Td (116) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 504.00 495.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 547.00 495.21 Td (\(18) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.00 495.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 65.00 481.21 Td (Net income/\(loss\) attributable to Willis Towers Watson) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 309.00 481.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 350.50 481.21 Td (210) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 374.00 481.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 420.00 481.21 Td (70) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 439.00 481.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 480.50 481.21 Td (117) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 504.00 481.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 547.00 481.21 Td (\(24) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.00 481.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 65.00 467.21 Td (Earnings/\(loss\) per share) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 77.00 453.21 Td (Basic) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 309.00 453.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 348.25 453.21 Td (3.09) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 374.00 453.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 413.25 453.21 Td (1.03) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 439.00 453.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 478.25 453.21 Td (1.72) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 504.00 453.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 540.25 453.21 Td (\(0.35) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.00 453.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 77.00 439.21 Td (Diluted) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 309.00 439.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 348.25 439.21 Td (3.04) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 374.00 439.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 413.25 439.21 Td (1.01) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 439.00 439.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 478.25 439.21 Td (1.70) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 504.00 439.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 540.25 439.21 Td (\(0.35) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.00 439.21 Td (\)) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 414.25 Td (The Mer) Tj ET Q q 0 0 0 rg BT 84.53 414.25 Td (ger af) Tj ET Q q 0 0 0 rg BT 107.38 414.25 Td (fects the comparability of this data between 2016 and other periods presented. See ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.44 414.25 Td (Note 3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.38 414.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.38 414.25 Td (Mer) Tj ET Q q 0 0 0 rg BT 499.86 414.25 Td (ger and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 402.25 Td (Acquisitions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 100.56 402.25 Td ( for additional information.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 209.42 402.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 381.25 Td (During the fourth quarter of 2016, management corrected an error by recording a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.53 381.25 Td ($103 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.92 381.25 Td ( benefit from income taxes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 369.25 Td (related to the release of a portion of our U.S. deferred tax valuation allowance. ) Tj ET Q q 0 0 0 rg BT 368.76 369.25 Td (A) Tj ET Q q 0 0 0 rg BT 375.43 369.25 Td ( portion of the correction should have been ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 357.25 Td (recorded in each of the three fiscal year 2016 Quarterly Reports on Forms 10-Q. Management has determined that the error is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 345.25 Td (immaterial to the previously filed 2016 quarterly financial statements and has no impact on prior year financial statements. ) Tj ET Q endstream endobj 277 0 obj <> endobj 278 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.50 31.60 Td (138) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (Note 21) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 82.49 742.25 Td ( Financial Information for) Tj ET Q q 0 0 0 rg BT 207.30 742.25 Td ( Par) Tj ET Q q 0 0 0 rg BT 225.17 742.25 Td (ent Guarantor) Tj ET Q q 0 0 0 rg BT 286.19 742.25 Td (, Other) Tj ET Q q 0 0 0 rg BT 316.56 742.25 Td ( Guarantor) Tj ET Q q 0 0 0 rg BT 364.99 742.25 Td ( Subsidiaries and Non-Guarantor) Tj ET Q q 0 0 0 rg BT 507.89 742.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 99.50 730.25 Td (Subsidiaries ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 709.25 Td (W) Tj ET Q q 0 0 0 rg BT 59.04 709.25 Td (illis North ) Tj ET Q q 0 0 0 rg BT 101.82 709.25 Td (America Inc. \(W) Tj ET Q q 0 0 0 rg BT 172.21 709.25 Td (illis North ) Tj ET Q q 0 0 0 rg BT 215.00 709.25 Td (America\) had ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.52 709.25 Td ($148 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.91 709.25 Td ( senior notes outstanding that were issued on July1, 2005 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 697.25 Td (that were subsequently repaid on July 1, 2015 and has ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.56 697.25 Td ($394 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.96 697.25 Td ( of senior notes issued on March28, 2007 and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.87 697.25 Td ($187 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.26 697.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 685.25 Td (of senior notes issued on September29, 2009.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 664.25 Td (All direct obligations under the senior notes are jointly and severally) Tj ET Q q 0 0 0 rg BT 323.72 664.25 Td (, irrevocably and fully and unconditionally guaranteed by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 652.25 Td (W) Tj ET Q q 0 0 0 rg BT 59.04 652.25 Td (illis Netherlands Holdings B.V) Tj ET Q q 0 0 0 rg BT 181.63 652.25 Td (., ) Tj ET Q q 0 0 0 rg BT 188.95 652.25 Td (W) Tj ET Q q 0 0 0 rg BT 197.99 652.25 Td (illis Investment U.K. Holdings Limited, ) Tj ET Q q 0 0 0 rg BT 360.02 652.25 Td (T) Tj ET Q q 0 0 0 rg BT 365.33 652.25 Td (A) Tj ET Q q 0 0 0 rg BT 372.00 652.25 Td ( I Limited, ) Tj ET Q q 0 0 0 rg BT 416.81 652.25 Td (T) Tj ET Q q 0 0 0 rg BT 422.56 652.25 Td (rinity ) Tj ET Q q 0 0 0 rg BT 446.18 652.25 Td (Acquisition plc, ) Tj ET Q q 0 0 0 rg BT 512.38 652.25 Td (W) Tj ET Q q 0 0 0 rg BT 521.42 652.25 Td (illis ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 640.25 Td (Group Limited, ) Tj ET Q q 0 0 0 rg BT 114.53 640.25 Td (W) Tj ET Q q 0 0 0 rg BT 123.57 640.25 Td (illis ) Tj ET Q q 0 0 0 rg BT 140.89 640.25 Td (T) Tj ET Q q 0 0 0 rg BT 146.30 640.25 Td (owers ) Tj ET Q q 0 0 0 rg BT 172.50 640.25 Td (W) Tj ET Q q 0 0 0 rg BT 181.14 640.25 Td (atson Sub Holdings Unlimited Company and ) Tj ET Q q 0 0 0 rg BT 363.18 640.25 Td (WTW) Tj ET Q q 0 0 0 rg BT 387.98 640.25 Td ( Bermuda Holdings Ltd., collectively the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 628.25 Td (Other Guarantors, and with ) Tj ET Q q 0 0 0 rg BT 168.39 628.25 Td (W) Tj ET Q q 0 0 0 rg BT 177.43 628.25 Td (illis ) Tj ET Q q 0 0 0 rg BT 194.76 628.25 Td (T) Tj ET Q q 0 0 0 rg BT 200.17 628.25 Td (owers ) Tj ET Q q 0 0 0 rg BT 226.37 628.25 Td (W) Tj ET Q q 0 0 0 rg BT 235.00 628.25 Td (atson, the Guarantor Companies.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 607.25 Td (The debt securities that were issued by ) Tj ET Q q 0 0 0 rg BT 207.27 607.25 Td (W) Tj ET Q q 0 0 0 rg BT 216.31 607.25 Td (illis North ) Tj ET Q q 0 0 0 rg BT 259.09 607.25 Td (America and guaranteed by the entities described above, and for which the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 595.25 Td (disclosures set forth below relate and are required under applicable SEC rules, were issued under an ef) Tj ET Q q 0 0 0 rg BT 459.95 595.25 Td (fective registration ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 583.25 Td (statement.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.25 Td (Presented below is condensed consolidating financial information for:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.35 541.25 Td (\(i\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.35 541.25 Td (W) Tj ET Q q 0 0 0 rg BT 84.39 541.25 Td (illis ) Tj ET Q q 0 0 0 rg BT 101.71 541.25 Td (T) Tj ET Q q 0 0 0 rg BT 107.12 541.25 Td (owers ) Tj ET Q q 0 0 0 rg BT 133.32 541.25 Td (W) Tj ET Q q 0 0 0 rg BT 141.96 541.25 Td (atson, which is a guarantor) Tj ET Q q 0 0 0 rg BT 249.03 541.25 Td (, on a parent company only basis;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.35 520.25 Td (\(ii\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.35 520.25 Td (the Other Guarantors, which are all ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 218.90 520.25 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 233.90 520.25 Td ( percent directly or indirectly owned subsidiaries of the parent and are all direct ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.35 508.25 Td (or indirect parents of the issuer;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.35 487.25 Td (\(iii\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.35 487.25 Td (the Issuer) Tj ET Q q 0 0 0 rg BT 113.55 487.25 Td (, ) Tj ET Q q 0 0 0 rg BT 118.37 487.25 Td (W) Tj ET Q q 0 0 0 rg BT 127.41 487.25 Td (illis North ) Tj ET Q q 0 0 0 rg BT 170.19 487.25 Td (America;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.35 466.25 Td (\(iv\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.35 466.25 Td (Other) Tj ET Q q 0 0 0 rg BT 97.72 466.25 Td (, which are the non-guarantor subsidiaries, on a combined basis;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.35 445.25 Td (\(v\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.35 445.25 Td (Consolidating adjustments;and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.35 424.25 Td (\(vi\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.35 424.25 Td (the Consolidated Company) Tj ET Q q 0 0 0 rg BT 183.58 424.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 403.25 Td (The equity method has been used for investments in subsidiaries in the condensed consolidating balance sheets of ) Tj ET Q q 0 0 0 rg BT 507.21 403.25 Td (W) Tj ET Q q 0 0 0 rg BT 516.25 403.25 Td (illis ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 391.25 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 391.25 Td (owers ) Tj ET Q q 0 0 0 rg BT 81.61 391.25 Td (W) Tj ET Q q 0 0 0 rg BT 90.25 391.25 Td (atson, the Other Guarantors and the Issuer) Tj ET Q q 0 0 0 rg BT 258.26 391.25 Td (. ) Tj ET Q endstream endobj 279 0 obj <> endobj 280 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.50 31.60 Td (139) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 199.60 742.25 Td (Condensed Consolidated Statement of Operations) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 693.75 203.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 253.50 693.75 47.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 300.50 693.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 304.50 693.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.50 693.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 693.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 693.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 693.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 456.50 693.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 460.50 693.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.50 693.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 693.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 663.75 203.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 253.50 663.75 47.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 300.50 663.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 304.50 663.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.50 663.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 663.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 663.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 663.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 456.50 663.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 460.50 663.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.50 663.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 663.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 633.75 203.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 253.50 633.75 47.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 300.50 633.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 304.50 633.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.50 633.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 633.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 633.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 633.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 456.50 633.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 460.50 633.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.50 633.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 633.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 603.75 203.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 253.50 603.75 47.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 300.50 603.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 304.50 603.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.50 603.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 603.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 603.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 603.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 456.50 603.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 460.50 603.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.50 603.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 603.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 573.75 203.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 253.50 573.75 47.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 300.50 573.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 304.50 573.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.50 573.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 573.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 573.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 573.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 456.50 573.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 460.50 573.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.50 573.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 573.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 543.75 203.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 253.50 543.75 47.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 300.50 543.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 304.50 543.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.50 543.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 543.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 543.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 543.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 456.50 543.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 460.50 543.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.50 543.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 543.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 513.75 203.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 253.50 513.75 47.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 300.50 513.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 304.50 513.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.50 513.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 513.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 513.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 513.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 456.50 513.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 460.50 513.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.50 513.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 513.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 483.75 203.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 253.50 483.75 47.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 300.50 483.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 304.50 483.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.50 483.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 483.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 483.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 483.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 456.50 483.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 460.50 483.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.50 483.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 483.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 453.75 203.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 253.50 453.75 47.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 300.50 453.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 304.50 453.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.50 453.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 453.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 453.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 453.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 456.50 453.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 460.50 453.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.50 453.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 453.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 393.75 203.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 253.50 393.75 47.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 300.50 393.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 304.50 393.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.50 393.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 393.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 393.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 393.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 456.50 393.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 460.50 393.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.50 393.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 393.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 343.75 203.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 253.50 343.75 47.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 300.50 343.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 304.50 343.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.50 343.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 343.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 343.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 343.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 456.50 343.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 460.50 343.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.50 343.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 343.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 313.75 203.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 253.50 313.75 47.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 300.50 313.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 304.50 313.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.50 313.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 313.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 313.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 313.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 456.50 313.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 460.50 313.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.50 313.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 313.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 283.75 203.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 253.50 283.75 47.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 300.50 283.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 304.50 283.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.50 283.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 283.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 283.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 283.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 456.50 283.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 460.50 283.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.50 283.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 283.75 48.00 -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 253.5 719.75 m 300.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 300.5 719.75 m 304.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 719.75 m 352.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 352.5 719.75 m 356.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 719.75 m 404.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404.5 719.75 m 408.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 719.75 m 456.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 456.5 719.75 m 460.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 719.75 m 508.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508.5 719.75 m 512.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 719.75 m 560.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 719.75 m 300.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 693.75 m 300.5 693.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 300.5 719.75 m 304.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 719.75 m 352.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 693.75 m 352.5 693.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 352.5 719.75 m 356.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 719.75 m 404.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 693.75 m 404.5 693.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404.5 719.75 m 408.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 719.75 m 456.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 693.75 m 456.5 693.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 456.5 719.75 m 460.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 719.75 m 508.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 693.75 m 508.5 693.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508.5 719.75 m 512.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 719.75 m 560.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 693.75 m 560.5 693.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 648.75 m 300.5 648.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 648.75 m 352.5 648.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 648.75 m 404.5 648.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 648.75 m 456.5 648.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 648.75 m 508.5 648.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 648.75 m 560.5 648.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 528.75 m 300.5 528.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 528.75 m 352.5 528.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 528.75 m 404.5 528.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 528.75 m 456.5 528.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 528.75 m 508.5 528.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 528.75 m 560.5 528.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 513.75 m 300.5 513.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 513.75 m 352.5 513.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 513.75 m 404.5 513.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 513.75 m 456.5 513.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 513.75 m 508.5 513.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 513.75 m 560.5 513.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 438.75 m 300.5 438.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 438.75 m 352.5 438.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 438.75 m 404.5 438.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 438.75 m 456.5 438.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 438.75 m 508.5 438.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 438.75 m 560.5 438.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 378.75 m 300.5 378.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 378.75 m 352.5 378.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 378.75 m 404.5 378.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 378.75 m 456.5 378.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 378.75 m 508.5 378.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 378.75 m 560.5 378.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 313.75 m 300.5 313.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 313.75 m 352.5 313.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 313.75 m 404.5 313.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 313.75 m 456.5 313.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 313.75 m 508.5 313.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 313.75 m 560.5 313.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 283.75 m 300.5 283.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 283.75 m 352.5 283.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 283.75 m 404.5 283.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 283.75 m 456.5 283.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 283.75 m 508.5 283.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 283.75 m 560.5 283.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 259.75 m 300.5 259.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 257.75 m 300.5 257.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 259.75 m 352.5 259.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 257.75 m 352.5 257.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 259.75 m 404.5 259.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 257.75 m 404.5 257.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 259.75 m 456.5 259.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 257.75 m 456.5 257.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 259.75 m 508.5 259.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 257.75 m 508.5 257.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 259.75 m 560.5 259.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 257.75 m 560.5 257.75 l s BT /F2 7.00 Tf ET q 0 0 0 rg BT 360.65 723.81 Td (Year ended December 31, 2016) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 267.80 711.81 Td (Willis) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 265.70 704.81 Td (Towers) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 265.20 697.81 Td (Watson) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 312.40 704.81 Td (The Other) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 310.50 697.81 Td (Guarantors) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 374.15 704.81 Td (The) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 370.90 697.81 Td (Issuer) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 423.10 697.81 Td (Other) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 463.15 704.81 Td (Consolidating) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 465.70 697.81 Td (adjustments) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 516.35 697.81 Td (Consolidated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 683.42 Td (Revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 668.42 Td (Commissions and fees) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.00 668.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.65 668.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.00 668.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.65 668.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.00 668.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.65 668.42 Td (19) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.00 668.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.15 668.42 Td (7,759) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.00 668.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.65 668.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.00 668.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.15 668.42 Td (7,778) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 653.42 Td (Interest and other income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.65 653.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.65 653.42 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.65 653.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.65 653.42 Td (107) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.65 653.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.65 653.42 Td (109) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 638.42 Td (Total revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.65 638.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.65 638.42 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.65 638.42 Td (19) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.15 638.42 Td (7,866) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.65 638.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.15 638.42 Td (7,887) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 623.42 Td (Costs of providing services) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 608.42 Td (Salaries and benefits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.65 608.42 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.65 608.42 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.65 608.42 Td (15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.15 608.42 Td (4,628) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.65 608.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.15 608.42 Td (4,646) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 593.42 Td (Other operating expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.65 593.42 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.65 593.42 Td (112) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.65 593.42 Td (88) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.15 593.42 Td (1,348) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.65 593.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.15 593.42 Td (1,551) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 578.42 Td (Depreciation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.65 578.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.65 578.42 Td (5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.65 578.42 Td (14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.65 578.42 Td (159) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.65 578.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.65 578.42 Td (178) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 563.42 Td (Amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.65 563.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.65 563.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.65 563.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.65 563.42 Td (591) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.65 563.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.65 563.42 Td (591) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 548.42 Td (Restructuring costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.65 548.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.65 548.42 Td (29) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.65 548.42 Td (39) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.65 548.42 Td (125) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.65 548.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.65 548.42 Td (193) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 533.42 Td (Transaction and integration expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.65 533.42 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.65 533.42 Td (16) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.65 533.42 Td (26) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.65 533.42 Td (134) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.65 533.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.65 533.42 Td (177) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 518.42 Td (Total costs of providing services) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.65 518.42 Td (6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.65 518.42 Td (163) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.65 518.42 Td (182) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.15 518.42 Td (6,985) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.65 518.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.15 518.42 Td (7,336) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 503.42 Td (\(Loss\) Income from operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.30 503.42 Td (\(6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.65 503.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.30 503.47 Td (\(161) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.65 503.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.30 503.47 Td (\(163) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.65 503.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.65 503.42 Td (881) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.65 503.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.65 503.42 Td (551) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 488.42 Td (Income from Group undertakings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.30 488.42 Td (\(3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.65 488.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.30 488.47 Td (\(500) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.65 488.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.30 488.47 Td (\(287) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.65 488.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.30 488.47 Td (\(136) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.65 488.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.65 488.42 Td (926) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.65 488.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 473.42 Td (Expenses due to Group undertakings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.65 473.42 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.65 473.42 Td (74) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.65 473.42 Td (178) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.65 473.42 Td (671) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.30 473.47 Td (\(926) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.65 473.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.65 473.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 458.42 Td (Interest expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.65 458.42 Td (32) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.65 458.42 Td (89) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.65 458.42 Td (39) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.65 458.42 Td (24) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.65 458.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.65 458.42 Td (184) Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 62.00 450.35 113.56 -9.09 re f /GS0 gs q 0 0 0 rg BT 62.00 443.42 Td (Other \(income\)/expense, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.65 443.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.30 443.47 Td (\(2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.65 443.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.65 443.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.65 443.42 Td (29) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.65 443.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 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684.75 m 301.5 684.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 684.75 m 353.5 684.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 684.75 m 405.5 684.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 684.75 m 457.5 684.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 684.75 m 509.5 684.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 254.5 634.75 m 301.5 634.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 634.75 m 353.5 634.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 634.75 m 405.5 634.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 634.75 m 457.5 634.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 634.75 m 509.5 634.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 634.75 m 561.5 634.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 254.5 610.75 m 301.5 610.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 254.5 608.75 m 301.5 608.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 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695.81 Td (T) Tj ET Q q 0 0 0 rg BT 270.73 695.81 Td (owers) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 266.20 688.81 Td (W) Tj ET Q q 0 0 0 rg BT 272.81 688.81 Td (atson) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 313.40 695.81 Td (The Other) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 311.50 688.81 Td (Guarantors) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 375.15 695.81 Td (The) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 371.90 688.81 Td (Issuer) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 424.10 688.81 Td (Other) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 464.15 695.81 Td (Consolidating) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 466.70 688.81 Td (adjustments) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 517.35 688.81 Td (Consolidated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 674.42 Td (Comprehensive \(loss\)/income before) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 664.42 Td (noncontrolling interests) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 257.00 664.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 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698.6 m 353.5 698.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 672.6 m 353.5 672.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 698.6 m 357.5 698.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 698.6 m 405.5 698.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 672.6 m 405.5 672.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 405.5 698.6 m 409.5 698.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 698.6 m 457.5 698.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 672.6 m 457.5 672.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457.5 698.6 m 461.5 698.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 698.6 m 509.5 698.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 672.6 m 509.5 672.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509.5 698.6 m 513.5 698.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 698.6 m 561.5 698.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 672.6 m 561.5 672.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 627.6 m 301.5 627.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 627.6 m 353.5 627.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 627.6 m 405.5 627.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 627.6 m 457.5 627.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 627.6 m 509.5 627.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 627.6 m 561.5 627.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 507.6 m 301.5 507.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 507.6 m 353.5 507.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 507.6 m 405.5 507.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 507.6 m 457.5 507.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 507.6 m 509.5 507.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 507.6 m 561.5 507.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 492.6 m 301.5 492.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 492.6 m 353.5 492.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 492.6 m 405.5 492.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 492.6 m 457.5 492.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 492.6 m 509.5 492.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 492.6 m 561.5 492.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 417.6 m 301.5 417.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 417.6 m 353.5 417.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 417.6 m 405.5 417.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 417.6 m 457.5 417.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 417.6 m 509.5 417.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 417.6 m 561.5 417.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 357.6 m 301.5 357.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 357.6 m 353.5 357.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 357.6 m 405.5 357.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 357.6 m 457.5 357.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 357.6 m 509.5 357.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 357.6 m 561.5 357.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 292.6 m 301.5 292.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 292.6 m 353.5 292.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 292.6 m 405.5 292.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 292.6 m 457.5 292.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 292.6 m 509.5 292.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 292.6 m 561.5 292.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 262.6 m 301.5 262.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 262.6 m 353.5 262.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 262.6 m 405.5 262.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 262.6 m 457.5 262.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 262.6 m 509.5 262.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 262.6 m 561.5 262.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 238.60000000000002 m 301.5 238.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 236.60000000000002 m 301.5 236.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 238.60000000000002 m 353.5 238.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 236.60000000000002 m 353.5 236.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 238.60000000000002 m 405.5 238.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 236.60000000000002 m 405.5 236.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 238.60000000000002 m 457.5 238.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 236.60000000000002 m 457.5 236.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 238.60000000000002 m 509.5 238.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 236.60000000000002 m 509.5 236.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 238.60000000000002 m 561.5 238.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 236.60000000000002 m 561.5 236.60000000000002 l s BT /F2 7.00 Tf ET q 0 0 0 rg BT 361.15 702.66 Td (Year ended December 31, 2015) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 268.30 690.66 Td (Willis) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 266.20 683.66 Td (Towers) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 265.70 676.66 Td (Watson) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 313.40 683.66 Td (The Other) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 311.50 676.66 Td (Guarantors) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 375.15 683.66 Td (The) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 371.90 676.66 Td (Issuer) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 424.10 676.66 Td (Other) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 464.15 683.66 Td (Consolidating) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 466.70 676.66 Td (adjustments) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 517.35 676.66 Td (Consolidated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 662.27 Td (Revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 647.27 Td (Commissions and fees) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.00 647.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 647.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.00 647.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 647.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.00 647.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 647.27 Td (11) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.00 647.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 647.27 Td (3,798) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.00 647.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 647.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.00 647.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 647.27 Td (3,809) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 632.27 Td (Interest and other income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 632.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.65 632.27 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 632.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 632.27 Td (19) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 632.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 632.27 Td (20) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 617.27 Td (Total revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 617.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.65 617.27 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 617.27 Td (11) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 617.27 Td (3,817) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 617.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 617.27 Td (3,829) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 602.27 Td (Costs of providing services) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 587.27 Td (Salaries and benefits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.65 587.27 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 587.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 587.27 Td (77) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 587.27 Td (2,225) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 587.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 587.27 Td (2,303) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 572.27 Td (Other operating expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.65 572.27 Td (8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.65 572.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.65 572.27 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 572.27 Td (609) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 572.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 572.27 Td (718) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 557.27 Td (Depreciation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 557.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.65 557.27 Td (6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 557.27 Td (16) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 557.27 Td (73) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 557.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 557.27 Td (95) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 542.27 Td (Amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 542.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 542.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 542.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 542.27 Td (76) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 542.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 542.27 Td (76) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 527.27 Td (Restructuring costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 527.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 527.27 Td (28) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 527.27 Td (13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 527.27 Td (85) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 527.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 527.27 Td (126) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 512.27 Td (Transaction and integration expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.65 512.27 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 512.27 Td (14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 512.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 512.27 Td (66) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 512.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 512.27 Td (84) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 497.27 Td (Total costs of providing services) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 497.27 Td (13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.65 497.27 Td (148) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.65 497.27 Td (107) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 497.27 Td (3,134) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 497.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 497.27 Td (3,402) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 482.27 Td (\(Loss\) Income from operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.30 482.27 Td (\(13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.65 482.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.30 482.32 Td (\(147) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.65 482.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.30 482.32 Td (\(96) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.65 482.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 482.27 Td (683) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg 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509.5 543.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 543.75 m 561.5 543.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 528.75 m 301.5 528.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 528.75 m 353.5 528.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 528.75 m 405.5 528.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 528.75 m 457.5 528.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 528.75 m 509.5 528.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 528.75 m 561.5 528.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 453.75 m 301.5 453.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 453.75 m 353.5 453.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 453.75 m 405.5 453.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 453.75 m 457.5 453.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 453.75 m 509.5 453.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 453.75 m 561.5 453.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 393.75 m 301.5 393.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 393.75 m 353.5 393.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 393.75 m 405.5 393.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 393.75 m 457.5 393.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 393.75 m 509.5 393.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 393.75 m 561.5 393.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 328.75 m 301.5 328.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 328.75 m 353.5 328.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 328.75 m 405.5 328.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 328.75 m 457.5 328.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 328.75 m 509.5 328.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 328.75 m 561.5 328.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 288.75 m 301.5 288.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 288.75 m 353.5 288.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 288.75 m 405.5 288.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 288.75 m 457.5 288.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 288.75 m 509.5 288.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 288.75 m 561.5 288.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 264.75 m 301.5 264.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 262.75 m 301.5 262.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 264.75 m 353.5 264.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 262.75 m 353.5 262.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 264.75 m 405.5 264.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 262.75 m 405.5 262.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 264.75 m 457.5 264.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 262.75 m 457.5 262.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 264.75 m 509.5 264.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 262.75 m 509.5 262.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 264.75 m 561.5 264.75 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 561.5 262.75 l s BT /F2 7.00 Tf ET q 0 0 0 rg BT 361.15 723.81 Td (Year ended December 31, 2014) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 268.30 711.81 Td (W) Tj ET Q q 0 0 0 rg BT 275.17 711.81 Td (illis) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 266.20 704.81 Td (T) Tj ET Q q 0 0 0 rg BT 270.23 704.81 Td (owers) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 265.70 697.81 Td (W) Tj ET Q q 0 0 0 rg BT 272.31 697.81 Td (atson) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 313.40 704.81 Td (The Other) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 311.50 697.81 Td (Guarantors) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 375.15 704.81 Td (The) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 371.90 697.81 Td (Issuer) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 424.10 697.81 Td (Other) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 464.15 704.81 Td (Consolidating) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 466.70 697.81 Td (adjustments) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 517.35 697.81 Td (Consolidated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 683.42 Td (Revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 668.42 Td (Commissions and fees) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.00 668.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 668.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.00 668.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 668.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.00 668.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.65 668.42 Td (8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.00 668.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 668.42 Td (3,759) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.00 668.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 668.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.00 668.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 668.42 Td (3,767) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 653.42 Td (Interest and other income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 653.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 653.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 653.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 653.42 Td (35) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 653.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 653.42 Td (35) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 638.42 Td (Total revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 638.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 638.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.65 638.42 Td (8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 638.42 Td (3,794) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 638.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 638.42 Td (3,802) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 623.42 Td (Costs of providing services) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 608.42 Td (Salaries and benefits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.65 608.42 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 608.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 608.42 Td (81) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 608.42 Td (2,232) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 608.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 608.42 Td (2,314) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 593.42 Td (Other operating expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 593.42 Td (16) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 593.42 Td (95) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 593.42 Td (38) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 593.42 Td (510) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 593.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 593.42 Td (659) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 578.42 Td (Depreciation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 578.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.65 578.42 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 578.42 Td (17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 578.42 Td (71) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 578.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 578.42 Td (92) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 563.42 Td (Amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 563.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 563.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 563.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 563.42 Td (54) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 563.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 563.42 Td (54) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 548.42 Td (Restructuring costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 548.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 548.42 Td (11) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.65 548.42 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 548.42 Td (22) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 548.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 548.42 Td (36) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 533.42 Td (Total costs of providing services) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 533.42 Td (17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.65 533.42 Td (110) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.65 533.42 Td (139) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 533.42 Td (2,889) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 533.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 533.42 Td (3,155) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 518.42 Td (\(Loss\) Income from operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.30 518.42 Td (\(17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.65 518.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.30 518.47 Td (\(110) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.65 518.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.30 518.47 Td (\(131) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.65 518.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 518.42 Td (905) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 518.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 518.42 Td (647) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 503.42 Td (Income from Group undertakings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 503.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.30 503.47 Td (\(221) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.65 503.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.30 503.47 Td (\(313) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.65 503.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.30 503.47 Td (\(102) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 503.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.65 503.42 Td (636) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 503.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 488.42 Td (Expenses due to Group undertakings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 488.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 488.42 Td (33) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.65 488.42 Td (179) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 488.42 Td (424) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.30 488.47 Td (\(636) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 488.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 488.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 473.42 Td (Interest expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 473.42 Td (43) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 473.42 Td (35) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 473.42 Td (45) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 473.42 Td (12) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 473.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 473.42 Td (135) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 458.42 Td (Other expense/\(income\), net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 458.42 Td (15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.65 458.42 Td (220) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 458.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.30 458.47 Td (\(11) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 458.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.30 458.47 Td (\(230) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 458.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.30 458.47 Td (\(6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 458.42 Td (\)) Tj 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1 rg /GS0 gs 357.50 177.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.50 177.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 177.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 177.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 177.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 177.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 177.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 137.75 204.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 253.50 137.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 137.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.50 137.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 137.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 137.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.50 137.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 137.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 137.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 137.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 137.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 137.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 107.75 204.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 253.50 107.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 107.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.50 107.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 107.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 107.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.50 107.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 107.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 107.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 107.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 107.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 107.75 48.00 -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 253.5 719.75 m 301.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 719.75 m 305.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 719.75 m 353.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 719.75 m 357.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 719.75 m 405.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 405.5 719.75 m 409.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 719.75 m 457.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457.5 719.75 m 461.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 719.75 m 509.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509.5 719.75 m 513.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 719.75 m 561.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 719.75 m 301.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 693.75 m 301.5 693.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 719.75 m 305.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 719.75 m 353.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 693.75 m 353.5 693.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 719.75 m 357.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 719.75 m 405.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 693.75 m 405.5 693.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 405.5 719.75 m 409.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 719.75 m 457.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 693.75 m 457.5 693.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457.5 719.75 m 461.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 719.75 m 509.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 693.75 m 509.5 693.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509.5 719.75 m 513.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 719.75 m 561.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 693.75 m 561.5 693.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 693.75 m 301.5 693.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 693.75 m 353.5 693.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 693.75 m 405.5 693.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 693.75 m 457.5 693.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 693.75 m 509.5 693.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 693.75 m 561.5 693.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 603.75 m 301.5 603.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 603.75 m 353.5 603.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 603.75 m 405.5 603.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 603.75 m 457.5 603.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 603.75 m 509.5 603.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 603.75 m 561.5 603.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 603.75 m 353.5 603.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 603.75 m 405.5 603.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 603.75 m 457.5 603.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 603.75 m 509.5 603.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 473.75 m 301.5 473.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 473.75 m 353.5 473.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 473.75 m 405.5 473.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 473.75 m 457.5 473.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 473.75 m 509.5 473.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 473.75 m 561.5 473.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 458.75 m 301.5 458.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 458.75 m 353.5 458.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 458.75 m 405.5 458.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 458.75 m 457.5 458.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 458.75 m 509.5 458.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 458.75 m 561.5 458.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 444.75 m 301.5 444.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 442.75 m 301.5 442.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 444.75 m 353.5 444.75 l s 0 0 0 RG 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457.5 347.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 347.75 m 509.5 347.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 347.75 m 561.5 347.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 232.75 m 301.5 232.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 232.75 m 353.5 232.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 232.75 m 405.5 232.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 232.75 m 457.5 232.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 232.75 m 509.5 232.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 232.75 m 301.5 232.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 217.75 m 301.5 217.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 232.75 m 353.5 232.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 217.75 m 353.5 217.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 232.75 m 405.5 232.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 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/GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 202.75 m 561.5 202.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 122.75 m 301.5 122.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 122.75 m 353.5 122.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 122.75 m 405.5 122.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 122.75 m 457.5 122.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 122.75 m 509.5 122.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 122.75 m 561.5 122.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 107.75 m 301.5 107.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 107.75 m 353.5 107.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 107.75 m 405.5 107.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 107.75 m 457.5 107.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 107.75 m 509.5 107.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 107.75 m 561.5 107.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 93.75 m 301.5 93.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 91.75 m 301.5 91.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 93.75 m 353.5 93.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 91.75 m 353.5 91.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 93.75 m 405.5 93.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 91.75 m 405.5 91.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 93.75 m 457.5 93.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 91.75 m 457.5 91.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 93.75 m 509.5 93.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 91.75 m 509.5 91.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 93.75 m 561.5 93.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 91.75 m 561.5 91.75 l s BT /F2 7.00 Tf ET q 0 0 0 rg BT 370.20 723.81 Td (As of December 31, 2016) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 268.30 711.81 Td (W) Tj ET Q q 0 0 0 rg BT 275.17 711.81 Td (illis) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 266.20 704.81 Td (T) Tj ET Q q 0 0 0 rg BT 270.23 704.81 Td (owers) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 265.70 697.81 Td (W) Tj ET Q q 0 0 0 rg BT 272.31 697.81 Td (atson) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 313.40 704.81 Td (The Other) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 311.50 697.81 Td (Guarantors) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 375.15 704.81 Td (The) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 371.90 697.81 Td (Issuer) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 424.10 697.81 Td (Other) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 464.15 704.81 Td (Consolidating) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 466.70 697.81 Td (adjustments) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 517.35 697.81 Td (Consolidated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 683.42 Td (ASSETS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 668.42 Td (Cash and cash equivalents) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.00 668.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 668.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.00 668.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 668.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.00 668.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 668.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.00 668.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 668.42 Td (870) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.00 668.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 668.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.00 668.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 668.42 Td (870) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 653.42 Td (Fiduciary assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 653.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 653.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 653.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.10 653.42 Td (10,505) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 653.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.10 653.42 Td (10,505) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 638.42 Td (Accounts receivable, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 638.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 638.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.65 638.42 Td (7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 638.42 Td (2,073) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 638.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 638.42 Td (2,080) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 623.42 Td (Prepaid and other current assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 623.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 623.42 Td (49) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 623.42 Td (23) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 623.42 Td (324) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.30 623.47 Td (\(59) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 623.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 623.42 Td (337) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 608.42 Td (Amounts due from group undertakings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.15 608.42 Td (7,229) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.15 608.42 Td (1,706) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.15 608.42 Td (1,190) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 608.42 Td (2,370) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.80 608.47 Td (\(12,495) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 608.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 608.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 593.42 Td (Total current assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.15 593.42 Td (7,229) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.15 593.42 Td (1,755) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.15 593.42 Td (1,220) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.10 593.42 Td (16,142) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.80 593.47 Td (\(12,554) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 593.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.10 593.42 Td (13,792) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 578.42 Td (Investments in subsidiaries) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.15 578.42 Td (3,409) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.15 578.42 Td (7,733) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.15 578.42 Td (5,480) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 578.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.80 578.47 Td (\(16,622) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 578.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 578.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 563.42 Td (Fixed assets, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 563.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 563.42 Td (34) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 563.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 563.42 Td (805) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 563.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 563.42 Td (839) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 548.42 Td (Goodwill) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 548.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 548.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 548.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.10 548.42 Td (10,413) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 548.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.10 548.42 Td (10,413) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 533.42 Td (Other intangible assets, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 533.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 533.42 Td (64) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 533.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 533.42 Td (4,368) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.30 533.47 Td (\(64) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 533.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 533.42 Td (4,368) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 518.42 Td (Pension benefits assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 518.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 518.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 518.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 518.42 Td (488) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 518.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 518.42 Td (488) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 503.42 Td (Other non-current assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 503.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 503.42 Td (10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 503.42 Td (80) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 503.42 Td (310) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.30 503.47 Td (\(47) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 503.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 503.42 Td (353) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 488.42 Td (Non-current amounts due from group ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 478.42 Td (undertakings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 478.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.15 478.42 Td (4,655) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.65 478.42 Td (836) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 478.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.80 478.47 Td (\(5,491) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 478.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 478.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 463.42 Td (Total non-current assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.15 463.42 Td (3,409) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.10 463.42 Td (12,496) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.15 463.42 Td (6,396) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.10 463.42 Td (16,384) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.80 463.47 Td (\(22,224) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 463.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.10 463.42 Td (16,461) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 448.42 Td (TOTAL ASSETS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.00 448.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.10 448.42 Td (10,638) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.00 448.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.10 448.42 Td (14,251) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.00 448.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.15 448.42 Td (7,616) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.00 448.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.10 448.42 Td (32,526) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.00 448.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.80 448.47 Td (\(34,778) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 448.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.00 448.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.10 448.42 Td (30,253) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 433.42 Td (LIABILITIES AND EQUITY) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 418.42 Td (Fiduciary liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.00 418.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 418.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.00 418.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 418.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.00 418.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 418.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.00 418.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.10 418.42 Td (10,505) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.00 418.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 418.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.00 418.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.10 418.42 Td (10,505) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 403.42 Td (Deferred revenue and accrued expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 403.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 403.42 Td (15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 403.42 Td (27) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 403.42 Td (1,488) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.30 403.47 Td (\(49) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 403.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 403.42 Td (1,481) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 389.32 Td (Short-term debt and current portion of long-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 379.37 Td (term debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 382.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 382.42 Td (22) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.65 382.42 Td (394) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 382.42 Td (92) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 382.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 382.42 Td (508) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 367.42 Td (Other current liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 367.42 Td (77) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 367.42 Td (94) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 367.42 Td (23) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 367.42 Td (684) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.30 367.47 Td (\(2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 367.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 367.42 Td (876) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 352.42 Td (Amounts due to group undertakings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 352.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.15 352.42 Td (8,323) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.15 352.42 Td (2,075) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 352.42 Td (2,097) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.80 352.47 Td (\(12,495) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 352.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 352.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 337.42 Td (Total current liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 337.42 Td (77) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.15 337.42 Td (8,454) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.15 337.42 Td (2,519) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.10 337.42 Td (14,866) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.80 337.47 Td (\(12,546) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 337.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.10 337.42 Td (13,370) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 322.42 Td (Long-term debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.65 322.42 Td (496) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.15 322.42 Td (2,506) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.65 322.42 Td (186) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 322.42 Td (169) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 322.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 322.42 Td (3,357) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 307.42 Td (Liability for pension benefits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 307.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 307.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 307.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 307.42 Td (1,321) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 307.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 307.42 Td (1,321) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 292.42 Td (Deferred tax liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 292.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 292.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 292.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 292.42 Td (1,013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.30 292.47 Td (\(149) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 292.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 292.42 Td (864) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 277.42 Td (Provision for liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 277.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 277.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.65 277.42 Td (120) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 277.42 Td (455) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 277.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 277.42 Td (575) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 262.42 Td (Other non-current liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 262.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 262.42 Td (48) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 262.42 Td (15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 262.42 Td (483) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.30 262.47 Td (\(14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 262.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 262.42 Td (532) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 247.42 Td (Non-current amounts due to group) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 237.42 Td (undertakings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 237.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 237.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.65 237.42 Td (518) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 237.42 Td (4,973) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.80 237.47 Td (\(5,491) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 237.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 237.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 222.42 Td (Total non-current liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.65 222.42 Td (496) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.15 222.42 Td (2,554) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.65 222.42 Td (839) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 222.42 Td (8,414) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.80 222.47 Td (\(5,654) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 222.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 222.42 Td (6,649) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 207.42 Td (TOTAL LIABILITIES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.65 207.42 Td (573) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.10 207.42 Td (11,008) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.15 207.42 Td (3,358) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.10 207.42 Td (23,280) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.80 207.47 Td (\(18,200) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 207.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.10 207.42 Td (20,019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 192.42 Td (REDEEMABLE NONCONTROLLING) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 182.42 Td (INTEREST) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 182.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 182.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 182.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 182.42 Td (51) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 182.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 182.42 Td (51) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 167.42 Td (EQUITY) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 152.42 Td (Total Willis Towers Watson shareholders) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 142.42 Td (equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.10 142.42 Td (10,065) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.15 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Td (3,243) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.15 112.42 Td (4,258) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 112.42 Td (9,195) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.80 112.47 Td (\(16,578) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 112.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.10 112.42 Td (10,183) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 97.42 Td (TOTAL LIABILITIES AND EQUITY) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.00 97.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.10 97.42 Td (10,638) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.00 97.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.10 97.42 Td (14,251) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.00 97.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.15 97.42 Td (7,616) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.00 97.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.10 97.42 Td (32,526) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.00 97.42 Td ($) Tj 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353.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 719.75 m 357.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 719.75 m 405.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 405.5 719.75 m 409.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 719.75 m 457.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457.5 719.75 m 461.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 719.75 m 509.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509.5 719.75 m 513.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 719.75 m 561.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 693.75 m 301.5 693.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 693.75 m 353.5 693.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 693.75 m 405.5 693.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 693.75 m 457.5 693.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 693.75 m 509.5 693.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 719.75 m 561.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 693.75 m 561.5 693.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 693.75 m 301.5 693.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 693.75 m 353.5 693.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 693.75 m 405.5 693.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 693.75 m 457.5 693.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 693.75 m 509.5 693.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 693.75 m 561.5 693.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 603.75 m 301.5 603.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 603.75 m 353.5 603.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 603.75 m 405.5 603.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 603.75 m 457.5 603.75 l s 0 0 0 RG 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561.5 473.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 458.75 m 301.5 458.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 473.75 m 353.5 473.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 458.75 m 353.5 458.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 473.75 m 405.5 473.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 458.75 m 405.5 458.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 473.75 m 457.5 473.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 458.75 m 457.5 458.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 473.75 m 509.5 473.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 458.75 m 509.5 458.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 473.75 m 561.5 473.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 458.75 m 561.5 458.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 444.75 m 301.5 444.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 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/GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 343.75 m 405.5 343.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 343.75 m 457.5 343.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 343.75 m 509.5 343.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 343.75 m 561.5 343.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 343.75 m 353.5 343.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 343.75 m 405.5 343.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 343.75 m 457.5 343.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 343.75 m 509.5 343.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 343.75 m 561.5 343.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 213.75 m 301.5 213.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 213.75 m 353.5 213.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 213.75 m 405.5 213.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 213.75 m 457.5 213.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 213.75 m 509.5 213.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 213.75 m 561.5 213.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 213.75 m 301.5 213.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 198.75 m 301.5 198.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 213.75 m 353.5 213.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 198.75 m 353.5 198.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 213.75 m 405.5 213.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 198.75 m 405.5 198.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 213.75 m 457.5 213.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 198.75 m 457.5 198.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 213.75 m 509.5 213.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 198.75 m 509.5 198.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 213.75 m 561.5 213.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 198.75 m 561.5 198.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 183.75 m 301.5 183.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 183.75 m 353.5 183.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 183.75 m 405.5 183.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 183.75 m 457.5 183.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 183.75 m 509.5 183.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 183.75 m 561.5 183.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 183.75 m 301.5 183.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 183.75 m 353.5 183.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 183.75 m 405.5 183.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 183.75 m 457.5 183.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 183.75 m 509.5 183.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 183.75 m 561.5 183.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 103.75 m 301.5 103.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 103.75 m 353.5 103.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 103.75 m 405.5 103.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 103.75 m 457.5 103.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 103.75 m 509.5 103.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 103.75 m 561.5 103.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 88.75 m 301.5 88.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 88.75 m 353.5 88.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 88.75 m 405.5 88.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 88.75 m 457.5 88.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 88.75 m 509.5 88.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 88.75 m 561.5 88.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 74.75 m 301.5 74.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 72.75 m 301.5 72.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 74.75 m 353.5 74.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 72.75 m 353.5 72.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 74.75 m 405.5 74.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 72.75 m 405.5 72.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 74.75 m 457.5 74.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 72.75 m 457.5 72.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 74.75 m 509.5 74.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 72.75 m 509.5 72.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 74.75 m 561.5 74.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 72.75 m 561.5 72.75 l s BT /F2 7.00 Tf ET q 0 0 0 rg BT 370.20 723.81 Td (As of December 31, 2015) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 268.30 711.81 Td (W) Tj ET Q q 0 0 0 rg BT 275.17 711.81 Td (illis) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 266.20 704.81 Td (T) Tj ET Q q 0 0 0 rg BT 270.23 704.81 Td (owers) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 265.70 697.81 Td (W) Tj ET Q q 0 0 0 rg BT 272.31 697.81 Td (atson) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 313.40 704.81 Td (The Other) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 311.50 697.81 Td (Guarantors) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 375.15 704.81 Td (The) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 371.90 697.81 Td (Issuer) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 424.10 697.81 Td (Other) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 464.15 704.81 Td (Consolidating) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 466.70 697.81 Td (adjustments) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 517.35 697.81 Td (Consolidated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 683.42 Td (ASSETS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 668.42 Td (Cash and cash equivalents) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.00 668.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.65 668.42 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.00 668.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.65 668.42 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.00 668.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 668.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.00 668.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 668.42 Td (527) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.00 668.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 668.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.00 668.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 668.42 Td (532) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 653.42 Td (Fiduciary assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 653.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 653.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 653.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.10 653.42 Td (10,458) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 653.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.10 653.42 Td (10,458) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 638.42 Td (Accounts receivable, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 638.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 638.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.65 638.42 Td (7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 638.42 Td (1,251) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 638.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 638.42 Td (1,258) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 623.42 Td (Prepaid and other current assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.65 623.42 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 623.42 Td (49) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 623.42 Td (18) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 623.42 Td (194) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.30 623.47 Td (\(7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 623.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 623.42 Td (255) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 608.42 Td (Amounts due from group undertakings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.15 608.42 Td (3,423) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.15 608.42 Td (1,684) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.65 608.42 Td (822) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 608.42 Td (1,259) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.80 608.47 Td (\(7,188) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 608.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 608.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 593.42 Td (Total current assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.15 593.42 Td (3,427) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.15 593.42 Td (1,735) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.65 593.42 Td (847) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.10 593.42 Td (13,689) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.80 593.47 Td (\(7,195) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 593.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.10 593.42 Td (12,503) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 578.42 Td (Investments in subsidiaries) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 578.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.15 578.42 Td (3,208) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.65 578.42 Td (832) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 578.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.80 578.47 Td (\(4,040) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 578.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 578.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 563.42 Td (Fixed assets, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 563.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 563.42 Td (23) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 563.42 Td (35) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 563.42 Td (505) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 563.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 563.42 Td (563) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 548.42 Td (Goodwill) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 548.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 548.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 548.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 548.42 Td (3,737) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 548.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 548.42 Td (3,737) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 533.42 Td (Other intangible assets, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 533.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 533.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 533.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 533.42 Td (1,115) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 533.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 533.42 Td (1,115) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 518.42 Td (Pension benefits assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 518.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 518.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 518.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 518.42 Td (623) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 518.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 518.42 Td (623) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 503.42 Td (Other non-current assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 503.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.65 503.42 Td (8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.65 503.42 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 503.42 Td (288) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 503.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 503.42 Td (298) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 488.42 Td (Non-current amounts due from group) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 478.42 Td (undertakings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 478.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.65 478.42 Td (518) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.65 478.42 Td (785) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 478.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.80 478.47 Td (\(1,303) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 478.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 478.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 463.42 Td (Total non-current assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 463.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.15 463.42 Td (3,757) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.15 463.42 Td (1,654) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 463.42 Td (6,268) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.80 463.47 Td (\(5,343) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 463.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 463.42 Td (6,336) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 448.42 Td (TOTAL ASSETS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.00 448.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.15 448.42 Td (3,427) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.00 448.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.15 448.42 Td (5,492) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.00 448.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.15 448.42 Td (2,501) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.00 448.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.10 448.42 Td (19,957) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.00 448.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.80 448.47 Td (\(12,538) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 448.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.00 448.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.10 448.42 Td (18,839) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 433.42 Td (LIABILITIES AND EQUITY) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 418.42 Td (Fiduciary liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.00 418.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 418.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.00 418.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 418.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.00 418.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 418.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.00 418.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.10 418.42 Td (10,458) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.00 418.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 418.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.00 418.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.10 418.42 Td (10,458) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 403.42 Td (Deferred revenue and accrued expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.65 403.42 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 403.42 Td (13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 403.42 Td (55) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 403.42 Td (683) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 403.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 403.42 Td (752) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 388.42 Td (Short-term debt and current portion of long-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 378.42 Td (term debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.65 378.42 Td (300) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.65 378.42 Td (609) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 378.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 378.42 Td (79) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 378.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 378.42 Td (988) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 363.42 Td (Other current liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 363.42 Td (15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 363.42 Td (38) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 363.42 Td (23) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 363.42 Td (534) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.30 363.47 Td (\(7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 363.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 363.42 Td (603) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 348.42 Td (Amounts due to group undertakings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 348.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.15 348.42 Td (4,141) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.15 348.42 Td (1,545) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 348.42 Td (1,502) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.80 348.47 Td (\(7,188) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 348.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 348.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 333.42 Td (Total current liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.65 333.42 Td (316) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.15 333.42 Td (4,801) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.15 333.42 Td (1,623) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.10 333.42 Td (13,256) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.80 333.47 Td (\(7,195) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 333.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.10 333.42 Td (12,801) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 318.42 Td (Long-term debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.65 318.42 Td (495) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.15 318.42 Td (1,203) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.65 318.42 Td (580) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 318.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 318.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 318.42 Td (2,278) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 303.42 Td (Liability for pension benefits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 303.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 303.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 303.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 303.42 Td (279) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 303.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 303.42 Td (279) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 288.42 Td (Deferred tax liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 288.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.65 288.42 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 288.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 288.42 Td (239) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 288.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 288.42 Td (240) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 273.42 Td (Provision for liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 273.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 273.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 273.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 273.42 Td (295) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 273.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 273.42 Td (295) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 258.42 Td (Investments in subsidiaries) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.65 258.42 Td (387) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 258.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 258.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 258.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.30 258.47 Td (\(387) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 258.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 258.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 243.42 Td (Other non-current liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 243.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 243.42 Td (21) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 243.42 Td (15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 243.42 Td (497) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 243.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 243.42 Td (533) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 228.42 Td (Non-current amounts due to group) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 218.42 Td (undertakings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 218.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 218.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.65 218.42 Td (518) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 218.42 Td (785) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.80 218.47 Td (\(1,303) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 218.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 218.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 203.42 Td (Total non-current liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.65 203.42 Td (882) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.15 203.42 Td (1,225) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.15 203.42 Td (1,113) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 203.42 Td (2,095) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.80 203.47 Td (\(1,690) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 203.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 203.42 Td (3,625) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 188.42 Td (TOTAL LIABILITIES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.15 188.42 Td (1,198) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.15 188.42 Td (6,026) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.15 188.42 Td (2,736) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.10 188.42 Td (15,351) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.80 188.47 Td (\(8,885) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 188.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.10 188.42 Td (16,426) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 173.42 Td (REDEEMABLE NONCONTROLLING) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 163.42 Td (INTEREST) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 163.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 163.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 163.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 163.42 Td (53) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 163.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 163.42 Td (53) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 148.42 Td (EQUITY) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 133.42 Td (Total Willis Towers Watson shareholders) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 123.42 Td (equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.15 123.42 Td (2,229) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.30 123.47 Td (\(534) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.65 123.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.30 123.47 Td (\(235) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.65 123.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 123.42 Td (4,422) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.80 123.47 Td (\(3,653) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 123.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 123.42 Td (2,229) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 108.42 Td (Noncontrolling interests) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 108.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 108.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 108.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 108.42 Td (131) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 108.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 108.42 Td (131) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 93.42 Td (Total equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.15 93.42 Td (2,229) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.30 93.47 Td (\(534) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.65 93.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.30 93.47 Td (\(235) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.65 93.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 93.42 Td (4,553) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.80 93.47 Td (\(3,653) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 93.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 93.42 Td (2,360) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 78.42 Td (TOTAL LIABILITIES AND EQUITY) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.00 78.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.15 78.42 Td (3,427) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.00 78.42 Td ($) Tj ET Q BT /F1 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j 3 M 305.5 466.75 m 353.5 466.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 442.75 m 353.5 442.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 466.75 m 405.5 466.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 442.75 m 405.5 442.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 466.75 m 457.5 466.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 442.75 m 457.5 442.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 466.75 m 509.5 466.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 442.75 m 509.5 442.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 466.75 m 561.5 466.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 442.75 m 561.5 442.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 190.75 m 301.5 190.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 190.75 m 353.5 190.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 190.75 m 405.5 190.75 l s 0 0 0 RG /GS0 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509.5 166.75 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 561.5 190.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 166.75 m 561.5 166.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 94.75 m 301.5 94.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 94.75 m 353.5 94.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 94.75 m 405.5 94.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 94.75 m 457.5 94.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 94.75 m 509.5 94.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 94.75 m 561.5 94.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 71.75 m 301.5 71.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 69.75 m 301.5 69.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 71.75 m 353.5 71.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 69.75 m 353.5 69.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 71.75 m 405.5 71.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 69.75 m 405.5 69.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 71.75 m 457.5 71.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 69.75 m 457.5 69.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 71.75 m 509.5 71.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 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 71.75 m 561.5 71.75 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 561.5 69.75 l s BT /F2 7.00 Tf ET q 0 0 0 rg BT 361.15 720.81 Td (Year ended December 31, 2016) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 268.30 708.81 Td (W) Tj ET Q q 0 0 0 rg BT 275.17 708.81 Td (illis) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 266.20 701.81 Td (T) Tj ET Q q 0 0 0 rg BT 270.23 701.81 Td (owers) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 265.70 694.81 Td (W) Tj ET Q q 0 0 0 rg BT 272.31 694.81 Td (atson) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 313.40 701.81 Td (The Other) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 311.50 694.81 Td (Guarantors) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 375.15 701.81 Td (The) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 371.90 694.81 Td (Issuer) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 424.10 694.81 Td (Other) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 464.15 701.81 Td (Consolidating) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 466.70 694.81 Td (adjustments) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 517.35 694.81 Td (Consolidated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 681.32 Td (NET CASH \(USED IN\)/FROM OPERATING) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 671.32 Td (ACTIVITIES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.00 671.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.30 671.42 Td (\(20) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.65 671.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.00 671.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.65 671.42 Td (128) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.00 671.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.30 671.47 Td (\(83) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.65 671.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.00 671.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 671.42 Td (1,101) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.00 671.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.30 671.47 Td (\(206) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 671.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.00 671.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 671.42 Td (920) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 657.32 Td (CASH FLOWS FROM/\(USED IN\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 647.32 Td (INVESTING ACTIVITIES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 633.32 Td (Additions to fixed assets and software for) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.00 623.32 Td (internal use) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 623.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.30 623.47 Td (\(79) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.65 623.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.30 623.47 Td (\(12) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.65 623.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.30 623.47 Td (\(221) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 623.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 623.42 Td (94) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.30 623.47 Td (\(218) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 623.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 609.32 Td (Capitalized software costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 609.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 609.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 609.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.30 609.37 Td (\(85) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 609.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 609.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.30 609.37 Td (\(85) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 609.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 595.32 Td (Acquisitions of operations, net of cash) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.00 585.32 Td (acquired) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 585.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 585.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 585.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 585.42 Td (476) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 585.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 585.42 Td (476) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 571.32 Td (Net \(cash paid\)/proceeds from sale of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.00 561.32 Td (operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 561.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 561.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 561.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.30 561.47 Td (\(4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 561.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.65 561.42 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.30 561.47 Td (\(1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 561.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 547.32 Td (Other, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 547.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 547.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 547.32 Td (33) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 547.32 Td (20) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.30 547.37 Td (\(30) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 547.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 547.32 Td (23) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 533.32 Td (Proceeds from intercompany investing) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.00 523.32 Td (activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 523.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.65 523.42 Td (163) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 523.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 523.42 Td (30) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.30 523.47 Td (\(193) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 523.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 523.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 509.32 Td (Repayments of intercompany investing) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.00 499.32 Td (activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 271.80 499.42 Td (\(3,751) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.65 499.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.80 499.47 Td (\(4,114) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.65 499.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 499.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.30 499.47 Td (\(769) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 499.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.15 499.42 Td (8,634) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 499.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 485.32 Td (Reduction in investment in subsidiaries) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.15 485.32 Td (4,600) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.15 485.32 Td (3,600) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 485.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 485.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.80 485.37 Td (\(8,200) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 485.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 485.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 471.32 Td (Additional investment in subsidiaries) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 471.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.80 471.37 Td (\(4,600) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.65 471.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 471.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.80 471.37 Td (\(3,600) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 471.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.15 471.32 Td (8,200) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 471.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.00 457.32 Td (Net cash from/\(used in\) investing) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.00 447.32 Td (activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.00 447.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.65 447.42 Td (849) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.00 447.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.80 447.47 Td (\(5,030) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.65 447.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.00 447.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 447.42 Td (21) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.00 447.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.80 447.47 Td (\(4,153) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 447.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.00 447.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.15 447.42 Td (8,508) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.00 447.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 447.42 Td (195) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 433.32 Td (CASH FLOWS \(USED IN\)/FROM) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 423.32 Td (FINANCING ACTIVITIES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 409.32 Td (Net \(payments\)/borrowings on revolving) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.00 399.32 Td (credit facility) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 399.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.30 399.47 Td (\(237) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.65 399.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 399.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 399.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 399.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.30 399.47 Td (\(237) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 399.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 385.32 Td (Senior notes issued) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 385.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.15 385.32 Td (1,606) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 385.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 385.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 385.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 385.32 Td (1,606) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 371.32 Td (Proceeds from issuance of other debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 371.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.65 371.32 Td (400) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 371.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.65 371.32 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 371.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 371.32 Td (404) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 357.32 Td (Debt issuance costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 357.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.30 357.37 Td (\(14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.65 357.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 357.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 357.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 357.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.30 357.37 Td (\(14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 357.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 343.32 Td (Repayments of debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.30 343.32 Td (\(300) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.65 343.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.80 343.37 Td (\(1,037) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.65 343.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 343.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.30 343.37 Td (\(564) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 343.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 343.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.80 343.37 Td (\(1,901) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 343.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 329.32 Td (Repurchase of shares) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.30 329.32 Td (\(396) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.65 329.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 329.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 329.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 329.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 329.32 Td () Tj 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10.00 Tf ET q 0 0 0 rg BT 391.65 281.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.30 281.47 Td (\(67) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 281.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 281.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.30 281.47 Td (\(67) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 281.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 267.32 Td (Dividends paid) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.30 267.32 Td (\(199) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.65 267.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 267.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.30 267.37 Td (\(49) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.65 267.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.30 267.37 Td (\(90) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 267.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.65 267.32 Td (139) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.30 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/GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 310.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 310.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 310.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 310.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 310.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 260.75 204.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 253.50 260.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 260.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.50 260.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 260.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 260.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.50 260.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 260.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 260.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 260.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 260.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 260.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 210.75 204.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 253.50 210.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 210.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.50 210.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 210.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 210.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.50 210.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 210.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 210.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 210.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 210.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 210.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 160.75 204.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 253.50 160.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 160.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.50 160.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 160.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 160.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.50 160.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 160.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 160.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 160.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 160.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 160.75 48.00 -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 253.5 716.75 m 301.5 716.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 716.75 m 305.5 716.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 716.75 m 353.5 716.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 716.75 m 357.5 716.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 716.75 m 405.5 716.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 405.5 716.75 m 409.5 716.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 716.75 m 457.5 716.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457.5 716.75 m 461.5 716.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 716.75 m 509.5 716.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509.5 716.75 m 513.5 716.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 716.75 m 561.5 716.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 690.75 m 301.5 690.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 690.75 m 353.5 690.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 690.75 m 405.5 690.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 690.75 m 457.5 690.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 690.75 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 513.5 716.75 m 561.5 716.75 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 561.5 690.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 665.75 m 301.5 665.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 690.75 m 353.5 690.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 665.75 m 353.5 665.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 690.75 m 405.5 690.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 665.75 m 405.5 665.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 690.75 m 457.5 690.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 665.75 m 457.5 665.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 690.75 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 461.5 665.75 m 509.5 665.75 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 561.5 690.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 665.75 m 561.5 665.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 485.75 m 301.5 485.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 485.75 m 353.5 485.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 485.75 m 405.5 485.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 485.75 m 457.5 485.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 485.75 m 509.5 485.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 485.75 m 561.5 485.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 485.75 m 301.5 485.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 460.75 m 301.5 460.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 485.75 m 353.5 485.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 460.75 m 353.5 460.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 485.75 m 405.5 485.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 460.75 m 405.5 460.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 485.75 m 457.5 485.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 460.75 m 457.5 460.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 485.75 m 509.5 485.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 460.75 m 509.5 460.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 485.75 m 561.5 485.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 460.75 m 561.5 460.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 235.75 m 301.5 235.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 210.75 m 301.5 210.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 235.75 m 353.5 235.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 210.75 m 353.5 210.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 235.75 m 405.5 235.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 210.75 m 405.5 210.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 235.75 m 457.5 235.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 210.75 m 457.5 210.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 235.75 m 509.5 235.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 210.75 m 509.5 210.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 235.75 m 561.5 235.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 210.75 m 561.5 210.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 135.75 m 301.5 135.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 135.75 m 353.5 135.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 135.75 m 405.5 135.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 135.75 m 457.5 135.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 135.75 m 509.5 135.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 135.75 m 561.5 135.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 111.75 m 301.5 111.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 109.75 m 301.5 109.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 111.75 m 353.5 111.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 109.75 m 353.5 109.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 111.75 m 405.5 111.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 109.75 m 405.5 109.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 111.75 m 457.5 111.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 109.75 m 457.5 109.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 111.75 m 509.5 111.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 109.75 m 509.5 109.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 111.75 m 561.5 111.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 109.75 m 561.5 109.75 l s BT /F2 7.00 Tf ET q 0 0 0 rg BT 361.15 720.81 Td (Year ended December 31, 2015) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 268.30 708.81 Td (W) Tj ET Q q 0 0 0 rg BT 275.17 708.81 Td (illis) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 266.20 701.81 Td (T) Tj ET Q q 0 0 0 rg BT 270.23 701.81 Td (owers) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 265.70 694.81 Td (W) Tj ET Q q 0 0 0 rg BT 272.31 694.81 Td (atson) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 313.40 701.81 Td (The Other) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 311.50 694.81 Td (Guarantors) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 375.15 701.81 Td (The) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 371.90 694.81 Td (Issuer) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 424.10 694.81 Td (Other) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 464.15 701.81 Td (Consolidating) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 466.70 694.81 Td (adjustments) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 517.35 694.81 Td (Consolidated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 680.42 Td (NET CASH \(USED IN\)/FROM OPERATING) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 670.42 Td (ACTIVITIES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.00 670.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.30 670.42 Td (\(10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.65 670.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.00 670.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.65 670.42 Td (583) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.00 670.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 670.42 Td (43) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.00 670.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.30 670.47 Td (\(223) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 670.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.00 670.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.30 670.47 Td (\(150) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 670.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.00 670.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 670.42 Td (243) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 655.42 Td (CASH FLOWS FROM/\(USED IN\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 645.42 Td (INVESTING ACTIVITIES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 630.42 Td (Additions to fixed assets and software for) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.00 620.42 Td (internal use) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 620.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.30 620.47 Td (\(10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.65 620.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.30 620.47 Td (\(8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.65 620.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.30 620.47 Td (\(128) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 620.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 620.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.30 620.47 Td (\(146) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 620.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 605.42 Td (Acquisitions of operations, net of cash) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.00 595.42 Td (acquired) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 595.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 595.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 595.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.30 595.47 Td (\(857) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 595.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 595.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.30 595.47 Td (\(857) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 595.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 580.42 Td (Proceeds from sale of operations, net of cash) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.00 570.42 Td (disposed) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 570.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 570.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 570.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 570.42 Td (44) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 570.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 570.42 Td (44) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 555.42 Td (Other, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 555.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 555.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 555.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 555.42 Td (16) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 555.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 555.42 Td (16) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 540.42 Td (Proceeds from intercompany investing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.00 530.42 Td (activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.65 530.42 Td (321) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 530.42 Td (49) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 530.42 Td (87) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 530.42 Td (151) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.30 530.47 Td (\(608) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 530.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 530.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 515.42 Td (Repayments of intercompany investing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.00 505.42 Td (activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.30 505.42 Td (\(82) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.65 505.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.30 505.47 Td (\(746) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.65 505.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 505.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.30 505.47 Td (\(181) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 505.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.15 505.42 Td (1,009) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 505.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 490.42 Td (Additional investment in subsidiaries) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 490.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.30 490.47 Td (\(598) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.65 490.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 490.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 490.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.65 490.42 Td (598) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 490.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.00 475.42 Td (Net cash from/\(used in\) investing) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.00 465.42 Td (activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.00 465.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.65 465.42 Td (239) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.00 465.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.80 465.47 Td (\(1,305) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.65 465.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.00 465.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 465.42 Td (79) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.00 465.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.30 465.47 Td (\(955) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 465.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.00 465.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.65 465.42 Td (999) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.00 465.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.30 465.47 Td (\(943) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 465.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 450.42 Td (CASH FLOWS \(USED IN\)/FROM) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 440.42 Td (FINANCING ACTIVITIES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 425.42 Td (Net \(payments\)/borrowings on revolving) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.00 415.42 Td (credit facility) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 415.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.65 415.42 Td (469) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 415.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 415.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 415.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 415.42 Td (469) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 400.42 Td (Debt issuance costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 400.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.30 400.47 Td (\(5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.65 400.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 400.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 400.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 400.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.30 400.47 Td (\(5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 400.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 385.42 Td (Repayments of debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 385.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.30 385.47 Td (\(16) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.65 385.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.30 385.47 Td (\(149) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.65 385.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.30 385.47 Td (\(1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 385.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 385.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.30 385.47 Td (\(166) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 385.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 370.42 Td (Proceeds from issue of other debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 370.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.65 370.42 Td (592) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 370.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 370.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 370.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 370.42 Td (592) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 355.42 Td (Repurchase of shares) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.30 355.42 Td (\(82) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.65 355.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 355.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 355.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 355.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 355.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.30 355.47 Td (\(82) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 355.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 340.42 Td (Proceeds from issuance of shares and excess) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.00 330.42 Td (tax benefit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.65 330.42 Td (124) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 330.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 330.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 330.42 Td (605) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.30 330.47 Td (\(598) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 330.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 330.42 Td (131) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 315.42 Td (Dividends paid) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.30 315.42 Td (\(277) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.65 315.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 315.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 315.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.30 315.47 Td (\(150) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 315.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.65 315.42 Td (150) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.30 315.47 Td (\(277) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 315.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 300.42 Td (Acquisitions of and dividends paid to) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.00 290.42 Td (noncontrolling interests) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 290.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 290.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 290.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.30 290.47 Td (\(21) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 290.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 290.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.30 290.47 Td (\(21) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 290.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 275.42 Td (Proceeds from intercompany financing) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.00 265.42 Td (activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 265.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.65 265.42 Td (154) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 265.42 Td (27) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 265.42 Td (828) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.80 265.47 Td (\(1,009) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 265.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 265.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 250.42 Td (Repayments of intercompany financing) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.00 240.42 Td (activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 240.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.30 240.47 Td (\(472) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.65 240.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 240.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.30 240.47 Td (\(136) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 240.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.65 240.42 Td (608) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 240.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.00 225.42 Td (Net cash \(used in\)/from financing) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.00 215.42 Td (activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.00 215.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.30 215.42 Td (\(235) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.65 215.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.00 215.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.65 215.42 Td (722) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.00 215.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.30 215.47 Td (\(122) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.65 215.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.00 215.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 215.42 Td (1,125) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.00 215.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.30 215.47 Td (\(849) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 215.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.00 215.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 215.42 Td (641) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 200.42 Td (DECREASE IN CASH AND CASH) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 190.42 Td (EQUIVALENTS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.30 190.42 Td (\(6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.65 190.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 190.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 190.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.30 190.47 Td (\(53) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 190.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 190.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.30 190.47 Td (\(59) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 190.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 175.42 Td (Effect of exchange rate changes on cash and cash) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 165.42 Td (equivalents) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 165.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 165.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 165.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.30 165.47 Td (\(44) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 165.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 165.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.30 165.47 Td (\(44) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 165.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 150.42 Td (CASH AND CASH EQUIVALENTS,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 140.42 Td (BEGINNING OF PERIOD) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.65 140.42 Td (9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.65 140.42 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 140.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 140.42 Td (624) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 140.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 140.42 Td (635) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 125.42 Td (CASH AND CASH EQUIVALENTS, END OF) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 115.42 Td (PERIOD) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.00 115.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.65 115.42 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.00 115.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.65 115.42 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.00 115.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 115.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.00 115.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 115.42 Td (527) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.00 115.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 115.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.00 115.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 115.42 Td (532) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 299 0 obj <> endobj 300 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.50 31.60 Td (149) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 198.90 742.25 Td (Condensed Consolidated Statement of Cash Flows) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 690.75 204.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 253.50 690.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 690.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.50 690.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 690.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 690.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.50 690.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 690.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 690.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 690.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 690.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 690.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 640.75 204.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 253.50 640.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 640.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.50 640.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 640.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 640.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.50 640.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 640.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 640.75 4.00 -25.00 re f /GS0 gs 0.8 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460.75 m 561.5 460.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 235.75 m 301.5 235.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 210.75 m 301.5 210.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 235.75 m 353.5 235.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 210.75 m 353.5 210.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 235.75 m 405.5 235.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 210.75 m 405.5 210.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 235.75 m 457.5 235.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 210.75 m 457.5 210.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 235.75 m 509.5 235.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 210.75 m 509.5 210.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 235.75 m 561.5 235.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 210.75 m 561.5 210.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 135.75 m 301.5 135.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 135.75 m 353.5 135.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 135.75 m 405.5 135.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 135.75 m 457.5 135.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 135.75 m 509.5 135.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 135.75 m 561.5 135.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 111.75 m 301.5 111.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 109.75 m 301.5 109.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 111.75 m 353.5 111.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 109.75 m 353.5 109.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 111.75 m 405.5 111.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 109.75 m 405.5 109.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 111.75 m 457.5 111.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 109.75 m 457.5 109.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 111.75 m 509.5 111.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 109.75 m 509.5 109.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 111.75 m 561.5 111.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 109.75 m 561.5 109.75 l s BT /F2 7.00 Tf ET q 0 0 0 rg BT 361.15 720.81 Td (Year ended December 31, 2014) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 268.30 708.81 Td (Willis) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 266.20 701.81 Td (Towers) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 265.70 694.81 Td (Watson) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 313.40 701.81 Td (The Other) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 311.50 694.81 Td (Guarantors) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 375.15 701.81 Td (The) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 371.90 694.81 Td (Issuer) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 424.10 694.81 Td (Other) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 464.15 701.81 Td (Consolidating) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 466.70 694.81 Td (adjustments) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 517.35 694.81 Td (Consolidated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 680.42 Td (NET CASH \(USED IN\)/FROM OPERATING) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 670.42 Td (ACTIVITIES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.00 670.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.30 670.42 Td (\(35) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.65 670.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.00 670.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.65 670.42 Td (387) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.00 670.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.65 670.42 Td (265) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.00 670.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 670.42 Td (212) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.00 670.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.30 670.47 Td (\(352) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 670.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.00 670.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 670.42 Td (477) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 655.42 Td (CASH FLOWS FROM/\(USED IN\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 645.42 Td (INVESTING ACTIVITIES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 630.42 Td (Additions to fixed assets and software for) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.00 620.42 Td (internal use) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 620.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.30 620.47 Td (\(9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.65 620.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.30 620.47 Td (\(10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.65 620.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.30 620.47 Td (\(95) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 620.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.65 620.42 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.30 620.47 Td (\(113) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 620.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 605.42 Td (Acquisitions of operations, net of cash) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.00 595.42 Td (acquired) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 595.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 595.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 595.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.30 595.47 Td (\(245) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 595.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 595.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.30 595.47 Td (\(245) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 595.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 580.42 Td (Other, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 580.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 580.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.65 580.42 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.30 580.47 Td (\(4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 580.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.30 580.47 Td (\(1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 580.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.30 580.47 Td (\(4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 580.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 565.42 Td (Proceeds from intercompany investing) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.00 555.42 Td (activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.65 555.42 Td (361) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 555.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.65 555.42 Td (120) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 555.42 Td (435) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.30 555.47 Td (\(916) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 555.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 555.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 540.42 Td (Repayments of intercompany investing) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.00 530.42 Td (activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 530.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.30 530.47 Td (\(53) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.65 530.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.30 530.47 Td (\(131) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.65 530.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.30 530.47 Td (\(46) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 530.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.65 530.42 Td (230) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 530.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 515.42 Td (Proceeds from sale of operations net of cash) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.00 505.42 Td (disposed) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 505.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 505.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 505.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 505.42 Td (86) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 505.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 505.42 Td (86) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 490.42 Td (Additional investment in subsidiaries) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.30 490.42 Td (\(31) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.65 490.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 490.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 490.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 490.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 490.42 Td (31) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 490.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.00 475.42 Td (Net cash from/\(used in\) investing) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.00 465.42 Td (activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.00 465.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.65 465.42 Td (330) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.00 465.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.30 465.47 Td (\(62) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.65 465.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.00 465.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.30 465.47 Td (\(20) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.65 465.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.00 465.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 465.42 Td (131) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.00 465.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.30 465.47 Td (\(655) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 465.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.00 465.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.30 465.47 Td (\(276) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 465.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 450.42 Td (CASH FLOWS \(USED IN\)/FROM) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 440.42 Td (FINANCING ACTIVITIES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 425.42 Td (Net \(payments on\)/draw down of revolving) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.00 415.42 Td (credit facility) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 415.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 415.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 415.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 415.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 415.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 415.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 400.42 Td (Debt issuance costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 400.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 400.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 400.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.30 400.47 Td (\(3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 400.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 400.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.30 400.47 Td (\(3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 400.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 385.42 Td (Repayments of debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 385.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.30 385.47 Td (\(15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.65 385.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 385.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 385.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 385.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.30 385.47 Td (\(15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 385.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 370.42 Td (Proceeds from issue of other debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 370.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 370.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 370.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 370.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 370.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 370.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 355.42 Td (Repurchase of shares) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.30 355.42 Td (\(213) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.65 355.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 355.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 355.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 355.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 355.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.30 355.47 Td (\(213) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 355.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 340.42 Td (Proceeds from issuance of shares and excess) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.00 330.42 Td (tax benefit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.65 330.42 Td (134) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 330.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 330.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 330.42 Td (36) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.30 330.47 Td (\(31) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 330.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 330.42 Td (139) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 315.42 Td (Dividends paid) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.30 315.42 Td (\(210) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.65 315.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 315.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 315.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.30 315.47 Td (\(352) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 315.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.65 315.42 Td (352) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.30 315.47 Td (\(210) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 315.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 300.42 Td (Acquisitions of and dividends paid to) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.00 290.42 Td (noncontrolling interests) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 290.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.30 290.47 Td (\(4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.65 290.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 290.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.30 290.47 Td (\(17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 290.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 290.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.30 290.47 Td (\(21) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 290.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 275.42 Td (Proceeds from intercompany financing) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.00 265.42 Td (activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 265.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 265.42 Td (46) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.65 265.42 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 265.42 Td (180) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.30 265.47 Td (\(230) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 265.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 265.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 250.42 Td (Repayments of intercompany financing) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.00 240.42 Td (activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 240.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.30 240.47 Td (\(353) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.65 240.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.30 240.47 Td (\(249) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.65 240.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.30 240.47 Td (\(314) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 240.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.65 240.42 Td (916) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 240.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.00 225.42 Td (Net cash \(used in\)/from financing) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.00 215.42 Td (activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.00 215.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.30 215.42 Td (\(289) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.65 215.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.00 215.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.30 215.47 Td (\(326) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.65 215.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.00 215.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.30 215.47 Td (\(245) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.65 215.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.00 215.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.30 215.47 Td (\(470) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 215.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.00 215.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.15 215.42 Td (1,007) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.00 215.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.30 215.47 Td (\(323) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 215.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 200.42 Td (INCREASE/\(DECREASE\) IN CASH AND) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 190.42 Td (CASH EQUIVALENTS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.65 190.42 Td (6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.30 190.47 Td (\(1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.65 190.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 190.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.30 190.47 Td (\(127) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 190.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 190.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.30 190.47 Td (\(122) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 190.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 175.42 Td (Effect of exchange rate changes on cash and cash) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 165.42 Td (equivalents) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 165.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 165.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 165.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.30 165.47 Td (\(39) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 165.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 165.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.30 165.47 Td (\(39) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 165.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 150.42 Td (CASH AND CASH EQUIVALENTS,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 140.42 Td (BEGINNING OF PERIOD) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.65 140.42 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.65 140.42 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 140.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 140.42 Td (790) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 140.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 140.42 Td (796) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 125.42 Td (CASH AND CASH EQUIVALENTS, END OF) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 115.42 Td (PERIOD) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.00 115.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.65 115.42 Td (9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.00 115.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.65 115.42 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.00 115.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 115.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.00 115.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 115.42 Td (624) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.00 115.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 115.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.00 115.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 115.42 Td (635) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 301 0 obj <> endobj 302 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.50 31.60 Td (150) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (Note 22 Financial Information for) Tj ET Q q 0 0 0 rg BT 207.30 742.25 Td ( Par) Tj ET Q q 0 0 0 rg BT 225.17 742.25 Td (ent Issuer) Tj ET Q q 0 0 0 rg BT 266.20 742.25 Td (, Guarantor) Tj ET Q q 0 0 0 rg BT 317.12 742.25 Td ( Subsidiaries and Non-Guarantor) Tj ET Q q 0 0 0 rg BT 460.03 742.25 Td ( Subsidiaries ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 721.25 Td (On March17, 201) Tj ET Q q 0 0 0 rg BT 122.95 721.25 Td (1, the Company issued senior notes totaling ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.15 721.25 Td ($800 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.54 721.25 Td ( in a registered public of) Tj ET Q q 0 0 0 rg BT 448.83 721.25 Td (fering. On March 15, 2016, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 709.25 Td ($300 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 101.39 709.25 Td ( of these senior notes was repaid leaving ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 265.79 709.25 Td ($500 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.18 709.25 Td ( outstanding. ) Tj ET Q q 0 0 0 rg BT 371.16 709.25 Td (These debt securities were issued by ) Tj ET Q q 0 0 0 rg BT 519.27 709.25 Td (W) Tj ET Q q 0 0 0 rg BT 528.31 709.25 Td (illis ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 697.25 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 697.25 Td (owers ) Tj ET Q q 0 0 0 rg BT 81.61 697.25 Td (W) Tj ET Q q 0 0 0 rg BT 90.25 697.25 Td (atson \(WTW) Tj ET Q q 0 0 0 rg BT 145.32 697.25 Td ( Debt Securities\) and are guaranteed by certain of the Company) Tj ET Q q 0 0 0 rg BT 405.78 697.25 Td (s subsidiaries. ) Tj ET Q q 0 0 0 rg BT 464.20 697.25 Td (Therefore, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 685.25 Td (Company is providing the condensed consolidating financial information below) Tj ET Q q 0 0 0 rg BT 368.73 685.25 Td (. ) Tj ET Q q 0 0 0 rg BT 373.55 685.25 Td (The following wholly owned subsidiaries ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 673.25 Td (\(directly or indirectly\) fully and unconditionally guarantee the ) Tj ET Q q 0 0 0 rg BT 300.84 673.25 Td (WTW) Tj ET Q q 0 0 0 rg BT 325.65 673.25 Td ( Debt Securities on a joint and several basis: ) Tj ET Q q 0 0 0 rg BT 505.15 673.25 Td (W) Tj ET Q q 0 0 0 rg BT 514.18 673.25 Td (illis ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 661.25 Td (Netherlands Holdings B.V) Tj ET Q q 0 0 0 rg BT 155.09 661.25 Td (., ) Tj ET Q q 0 0 0 rg BT 162.41 661.25 Td (W) Tj ET Q q 0 0 0 rg BT 171.45 661.25 Td (illis Investment U.K. Holdings Limited, ) Tj ET Q q 0 0 0 rg BT 333.48 661.25 Td (T) Tj ET Q q 0 0 0 rg BT 338.78 661.25 Td (A) Tj ET Q q 0 0 0 rg BT 345.45 661.25 Td ( I Limited, ) Tj ET Q q 0 0 0 rg BT 390.26 661.25 Td (T) Tj ET Q q 0 0 0 rg BT 396.02 661.25 Td (rinity ) Tj ET Q q 0 0 0 rg BT 419.63 661.25 Td (Acquisition plc, ) Tj ET Q q 0 0 0 rg BT 485.83 661.25 Td (W) Tj ET Q q 0 0 0 rg BT 494.87 661.25 Td (illis Group ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 649.25 Td (Limited, ) Tj ET Q q 0 0 0 rg BT 86.48 649.25 Td (W) Tj ET Q q 0 0 0 rg BT 95.52 649.25 Td (illis North ) Tj ET Q q 0 0 0 rg BT 138.30 649.25 Td (America Inc., ) Tj ET Q q 0 0 0 rg BT 195.31 649.25 Td (W) Tj ET Q q 0 0 0 rg BT 204.35 649.25 Td (illis ) Tj ET Q q 0 0 0 rg BT 221.67 649.25 Td (T) Tj ET Q q 0 0 0 rg BT 227.08 649.25 Td (owers ) Tj ET Q q 0 0 0 rg BT 253.29 649.25 Td (W) Tj ET Q q 0 0 0 rg BT 261.92 649.25 Td (atson Sub Holdings Unlimited Company and ) Tj ET Q q 0 0 0 rg BT 443.96 649.25 Td (WTW) Tj ET Q q 0 0 0 rg BT 468.76 649.25 Td ( Bermuda Holdings ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 637.25 Td (Ltd. \(the Guarantors\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 616.25 Td (The guarantor structure described above dif) Tj ET Q q 0 0 0 rg BT 224.47 616.25 Td (fers from the guarantor structure associated with the senior notes issued by ) Tj ET Q q 0 0 0 rg BT 525.87 616.25 Td (W) Tj ET Q q 0 0 0 rg BT 534.91 616.25 Td (illis ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 604.25 Td (North ) Tj ET Q q 0 0 0 rg BT 75.28 604.25 Td (America \(the W) Tj ET Q q 0 0 0 rg BT 142.62 604.25 Td (illis North ) Tj ET Q q 0 0 0 rg BT 185.40 604.25 Td (America Debt Securities\) \(and for which condensed consolidating financial information is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 592.25 Td (presented in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 101.09 592.25 Td (Note 21) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 133.03 592.25 Td (\)in that ) Tj ET Q q 0 0 0 rg BT 166.46 592.25 Td (W) Tj ET Q q 0 0 0 rg BT 175.49 592.25 Td (illis ) Tj ET Q q 0 0 0 rg BT 192.82 592.25 Td (T) Tj ET Q q 0 0 0 rg BT 198.23 592.25 Td (owers ) Tj ET Q q 0 0 0 rg BT 224.43 592.25 Td (W) Tj ET Q q 0 0 0 rg BT 233.07 592.25 Td (atson is the Parent Issuer and ) Tj ET Q q 0 0 0 rg BT 351.75 592.25 Td (W) Tj ET Q q 0 0 0 rg BT 360.79 592.25 Td (illis North ) Tj ET Q q 0 0 0 rg BT 403.57 592.25 Td (America is a subsidiary guarantor) Tj ET Q q 0 0 0 rg BT 537.97 592.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 571.25 Td (Presented below is condensed consolidating financial information for:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.35 550.25 Td (\(i\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.35 550.25 Td (W) Tj ET Q q 0 0 0 rg BT 84.39 550.25 Td (illis ) Tj ET Q q 0 0 0 rg BT 101.71 550.25 Td (T) Tj ET Q q 0 0 0 rg BT 107.12 550.25 Td (owers ) Tj ET Q q 0 0 0 rg BT 133.32 550.25 Td (W) Tj ET Q q 0 0 0 rg BT 141.96 550.25 Td (atson, which is the Parent Issuer;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.35 529.25 Td (\(ii\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.35 529.25 Td (the Guarantors, which are all ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 193.64 529.25 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 208.64 529.25 Td ( percent directly or indirectly owned subsidiaries of the parent;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.35 508.25 Td (\(iii\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.35 508.25 Td (Other) Tj ET Q q 0 0 0 rg BT 97.72 508.25 Td (, which are the non-guarantor subsidiaries, on a combined basis;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.35 487.25 Td (\(iv\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.35 487.25 Td (Consolidating adjustments; and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.35 466.25 Td (\(v\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.35 466.25 Td (the Consolidated Company) Tj ET Q q 0 0 0 rg BT 183.58 466.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 445.25 Td (The equity method has been used for investments in subsidiaries in the condensed consolidating balance sheets of ) Tj ET Q q 0 0 0 rg BT 507.21 445.25 Td (W) Tj ET Q q 0 0 0 rg BT 516.25 445.25 Td (illis ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 433.25 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 433.25 Td (owers ) Tj ET Q q 0 0 0 rg BT 81.61 433.25 Td (W) Tj ET Q q 0 0 0 rg BT 90.25 433.25 Td (atson and the Guarantors. ) Tj ET Q endstream endobj 303 0 obj <> endobj 304 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.50 31.60 Td (151) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 199.60 742.25 Td (Condensed Consolidated Statement of Operations) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 679.75 256.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.50 679.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 679.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 679.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.50 679.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 679.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 679.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 679.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 679.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 679.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 649.75 256.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.50 649.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 649.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 649.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.50 649.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 649.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 649.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 649.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 649.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 649.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 619.75 256.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.50 619.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 619.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 619.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.50 619.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 619.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 619.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 619.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 619.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 619.75 48.00 -15.00 re f /GS0 gs 0.8 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1 rg /GS0 gs 513.50 499.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 469.75 256.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.50 469.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 469.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 469.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.50 469.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 469.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 469.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 469.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 469.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 469.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 439.75 256.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.50 439.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 439.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 439.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.50 439.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 439.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 439.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 439.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 439.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 439.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 389.75 256.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.50 389.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 389.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 389.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.50 389.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 389.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 389.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 389.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 389.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 389.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 349.75 256.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.50 349.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 349.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 349.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.50 349.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 349.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 349.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 349.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 349.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 349.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 319.75 256.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.50 319.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 319.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 319.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.50 319.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 319.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 319.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 319.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 319.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 319.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 289.75 256.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.50 289.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 289.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 289.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.50 289.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 289.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 289.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 289.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 289.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 289.75 48.00 -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 305.5 719.75 m 353.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 719.75 m 357.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 719.75 m 405.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 405.5 719.75 m 409.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 719.75 m 457.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457.5 719.75 m 461.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 719.75 m 509.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509.5 719.75 m 513.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 719.75 m 561.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 719.75 m 353.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 679.75 m 353.5 679.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 719.75 m 357.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 719.75 m 405.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 679.75 m 405.5 679.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 405.5 719.75 m 409.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 719.75 m 457.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 679.75 m 457.5 679.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457.5 719.75 m 461.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 719.75 m 509.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 679.75 m 509.5 679.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509.5 719.75 m 513.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 719.75 m 561.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 679.75 m 561.5 679.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 634.75 m 353.5 634.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 634.75 m 405.5 634.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 634.75 m 457.5 634.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 634.75 m 509.5 634.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 634.75 m 561.5 634.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 514.75 m 353.5 514.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 514.75 m 405.5 514.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 514.75 m 457.5 514.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 514.75 m 509.5 514.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 514.75 m 561.5 514.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 499.75 m 353.5 499.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 499.75 m 405.5 499.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 499.75 m 457.5 499.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 499.75 m 509.5 499.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 499.75 m 561.5 499.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 424.75 m 353.5 424.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 424.75 m 405.5 424.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 424.75 m 457.5 424.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 424.75 m 509.5 424.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 424.75 m 561.5 424.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 374.75 m 353.5 374.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 374.75 m 405.5 374.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 374.75 m 457.5 374.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 374.75 m 509.5 374.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 374.75 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 305.5 319.75 m 353.5 319.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 319.75 m 405.5 319.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 319.75 m 457.5 319.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 319.75 m 509.5 319.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 319.75 m 561.5 319.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 289.75 m 353.5 289.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 289.75 m 405.5 289.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 289.75 m 457.5 289.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 289.75 m 509.5 289.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 289.75 m 561.5 289.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 265.75 m 353.5 265.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 263.75 m 353.5 263.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 265.75 m 405.5 265.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 263.75 m 405.5 263.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 265.75 m 457.5 265.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 263.75 m 457.5 263.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 265.75 m 509.5 265.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 263.75 m 509.5 263.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 265.75 m 561.5 265.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 263.75 m 561.5 263.75 l s BT /F2 7.00 Tf ET q 0 0 0 rg BT 387.15 723.81 Td (Year ended December 31, 2016) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 320.30 711.81 Td (Willis) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 318.20 704.81 Td (Towers) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 313.30 697.81 Td (Watson ) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 313.40 690.81 Td (the Parent) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 319.90 683.81 Td (Issuer) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 375.15 690.81 Td (The) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 363.50 683.81 Td (Guarantors) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 424.10 683.81 Td (Other) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 464.15 690.81 Td (Consolidating) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 466.70 683.81 Td (adjustments) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 517.35 683.81 Td (Consolidated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 669.42 Td (Revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 654.42 Td (Commissions and fees) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.00 654.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 654.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.00 654.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 654.42 Td (19) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.00 654.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 654.42 Td (7,759) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.00 654.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 654.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.00 654.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 654.42 Td (7,778) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 639.42 Td (Interest and other income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 639.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.65 639.42 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 639.42 Td (107) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 639.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 639.42 Td (109) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 624.42 Td (Total revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 624.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 624.42 Td (21) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 624.42 Td (7,866) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 624.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 624.42 Td (7,887) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 609.42 Td (Costs of providing services) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 594.42 Td (Salaries and benefits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.65 594.42 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 594.42 Td (16) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 594.42 Td (4,628) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 594.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 594.42 Td (4,646) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 579.42 Td (Other operating expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.65 579.42 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.65 579.42 Td (200) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 579.42 Td (1,348) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 579.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 579.42 Td (1,551) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 564.42 Td (Depreciation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 564.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 564.42 Td (19) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 564.42 Td (159) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 564.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 564.42 Td (178) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 549.42 Td (Amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 549.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 549.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 549.42 Td (591) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 549.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 549.42 Td (591) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 534.42 Td (Restructuring costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 534.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 534.42 Td (68) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 534.42 Td (125) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 534.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 534.42 Td (193) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 519.42 Td (Transaction and integration expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.65 519.42 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 519.42 Td (42) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 519.42 Td (134) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 519.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 519.42 Td (177) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 504.42 Td (Total costs of providing services) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.65 504.42 Td (6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.65 504.42 Td (345) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 504.42 Td (6,985) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 504.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 504.42 Td (7,336) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 489.42 Td (\(Loss\) Income from operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.30 489.47 Td (\(6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.65 489.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.30 489.47 Td (\(324) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.65 489.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 489.42 Td (881) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 489.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 489.42 Td (551) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 474.42 Td (Income from Group undertakings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.30 474.47 Td (\(3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.65 474.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.30 474.47 Td (\(672) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.65 474.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.30 474.47 Td (\(136) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 474.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.65 474.42 Td (811) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 474.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 459.42 Td (Expenses due to Group undertakings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.65 459.42 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.65 459.42 Td (137) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 459.42 Td (671) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.30 459.47 Td (\(811) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 459.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 459.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 444.42 Td (Interest expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 444.42 Td (32) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.65 444.42 Td (128) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 444.42 Td (24) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 444.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 444.42 Td (184) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 429.42 Td (Other \(income\)/expense, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 429.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.30 429.47 Td (\(2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.65 429.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 429.42 Td (29) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 429.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 429.42 Td (27) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 414.42 Td (\(LOSS\) INCOME FROM CONTINUING OPERATIONS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 404.42 Td (BEFORE INCOME TAXES AND INTEREST IN) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 394.42 Td (EARNINGS OF ASSOCIATES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.30 394.47 Td (\(38) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.65 394.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 394.42 Td (85) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 394.42 Td (293) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 394.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 394.42 Td (340) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 379.42 Td (\(Benefit from\)/provision for income taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 379.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.30 379.47 Td (\(122) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.65 379.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 379.42 Td (26) 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 544.30 379.47 Td (\(96) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 379.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 364.42 Td (\(LOSS\) INCOME FROM CONTINUING OPERATIONS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 354.42 Td (BEFORE INTEREST IN EARNINGS OF ASSOCIATES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.30 354.47 Td (\(38) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.65 354.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.65 354.42 Td (207) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 354.42 Td (267) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 354.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 354.42 Td (436) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 339.42 Td (Interest in earnings of associates, net of tax) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 339.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 339.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.65 339.42 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 339.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 339.42 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 324.42 Td (Equity account for subsidiaries) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.65 324.42 Td (458) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.65 324.42 Td (241) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 324.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.30 324.47 Td (\(699) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 324.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 324.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 309.42 Td (NET INCOME) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.65 309.42 Td (420) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.65 309.42 Td (448) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 309.42 Td (269) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.30 309.47 Td (\(699) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 309.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 309.42 Td (438) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 294.42 Td (Income attributable to noncontrolling interests) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 294.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 294.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.30 294.47 Td (\(18) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 294.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 294.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.30 294.47 Td (\(18) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 294.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 279.42 Td (NET INCOME ATTRIBUTABLE TO WILLIS TOWERS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 269.42 Td (WATSON) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.00 269.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.65 269.42 Td (420) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.00 269.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.65 269.42 Td (448) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.00 269.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 269.42 Td (251) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.00 269.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.30 269.47 Td (\(699) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 269.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.00 269.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 269.42 Td (420) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 305 0 obj <> endobj 306 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.50 31.60 Td (152) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 158.70 742.25 Td (Condensed Consolidated Statement of Compr) Tj ET Q q 0 0 0 rg BT 354.08 742.25 Td (ehensive Income/\(Loss\)) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 670.75 257.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.50 670.75 47.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 670.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 670.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.50 670.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 670.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 670.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 670.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 670.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 670.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 630.75 257.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.50 630.75 47.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 630.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 630.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.50 630.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 630.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 630.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 630.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 630.75 4.00 -25.00 re f /GS0 gs 0.8 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/GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 319.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 319.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 319.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 319.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 319.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 279.75 256.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.50 279.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 279.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 279.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.50 279.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 279.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 279.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 279.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 279.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 279.75 48.00 -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 305.5 719.75 m 353.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 719.75 m 357.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 719.75 m 405.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 405.5 719.75 m 409.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 719.75 m 457.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457.5 719.75 m 461.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 719.75 m 509.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509.5 719.75 m 513.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 719.75 m 561.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 719.75 m 353.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 679.75 m 353.5 679.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 719.75 m 357.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 719.75 m 405.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 679.75 m 405.5 679.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 405.5 719.75 m 409.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 719.75 m 457.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 679.75 m 457.5 679.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457.5 719.75 m 461.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 719.75 m 509.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 679.75 m 509.5 679.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509.5 719.75 m 513.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 719.75 m 561.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 679.75 m 561.5 679.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 634.75 m 353.5 634.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 634.75 m 405.5 634.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 634.75 m 457.5 634.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 634.75 m 509.5 634.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 634.75 m 561.5 634.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 514.75 m 353.5 514.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 514.75 m 405.5 514.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 514.75 m 457.5 514.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 514.75 m 509.5 514.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 514.75 m 561.5 514.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 499.75 m 353.5 499.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 499.75 m 405.5 499.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 499.75 m 457.5 499.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 499.75 m 509.5 499.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 499.75 m 561.5 499.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 424.75 m 353.5 424.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 424.75 m 405.5 424.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 424.75 m 457.5 424.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 424.75 m 509.5 424.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 424.75 m 561.5 424.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 374.75 m 353.5 374.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 374.75 m 405.5 374.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 374.75 m 457.5 374.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 374.75 m 509.5 374.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 374.75 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 305.5 319.75 m 353.5 319.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 319.75 m 405.5 319.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 319.75 m 457.5 319.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 319.75 m 509.5 319.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 319.75 m 561.5 319.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 279.75 m 353.5 279.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 279.75 m 405.5 279.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 279.75 m 457.5 279.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 279.75 m 509.5 279.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 279.75 m 561.5 279.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 255.75 m 353.5 255.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 253.75 m 353.5 253.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 255.75 m 405.5 255.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 253.75 m 405.5 253.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 255.75 m 457.5 255.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 253.75 m 457.5 253.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 255.75 m 509.5 255.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 253.75 m 509.5 253.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 255.75 m 561.5 255.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 253.75 m 561.5 253.75 l s BT /F2 7.00 Tf ET q 0 0 0 rg BT 387.15 723.81 Td (Year ended December 31, 2015) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 320.30 711.81 Td (Willis) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 318.20 704.81 Td (Towers) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 313.30 697.81 Td (Watson ) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 313.40 690.81 Td (the Parent) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 319.90 683.81 Td (Issuer) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 375.15 690.81 Td (The) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 363.50 683.81 Td (Guarantors) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 424.10 683.81 Td (Other) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 464.15 690.81 Td (Consolidating) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 466.70 683.81 Td (adjustments) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 517.35 683.81 Td (Consolidated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 669.42 Td (Revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 654.42 Td (Commissions and fees) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.00 654.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 654.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.00 654.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 654.42 Td (11) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.00 654.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 654.42 Td (3,798) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.00 654.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 654.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.00 654.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 654.42 Td (3,809) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 639.42 Td (Interest and other income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 639.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.65 639.42 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 639.42 Td (19) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 639.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 639.42 Td (20) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 624.42 Td (Total revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 624.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 624.42 Td (12) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 624.42 Td (3,817) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 624.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 624.42 Td (3,829) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 609.42 Td (Costs of providing services) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 594.42 Td (Salaries and benefits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.65 594.42 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 594.42 Td (77) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 594.42 Td (2,225) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 594.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 594.42 Td (2,303) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 579.42 Td (Other operating expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.65 579.42 Td (8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.65 579.42 Td (101) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 579.42 Td (609) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 579.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 579.42 Td (718) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 564.42 Td (Depreciation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 564.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 564.42 Td (22) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 564.42 Td (73) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 564.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 564.42 Td (95) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 549.42 Td (Amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 549.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 549.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 549.42 Td (76) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 549.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 549.42 Td (76) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 534.42 Td (Restructuring costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 534.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 534.42 Td (41) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 534.42 Td (85) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 534.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 534.42 Td (126) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 519.42 Td (Transaction and integration expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.65 519.42 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 519.42 Td (14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 519.42 Td (66) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 519.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 519.42 Td (84) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 504.42 Td (Total costs of providing services) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 504.42 Td (13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.65 504.42 Td (255) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 504.42 Td (3,134) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 504.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 504.42 Td (3,402) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 489.42 Td (\(Loss\) Income from operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.30 489.47 Td (\(13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.65 489.42 Td (\)) Tj ET Q 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BT /F2 7.00 Tf ET q 0 0 0 rg BT 464.15 690.81 Td (Consolidating) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 466.70 683.81 Td (adjustments) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 517.35 683.81 Td (Consolidated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 669.42 Td (Revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 654.42 Td (Commissions and fees) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.00 654.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 654.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.00 654.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.65 654.42 Td (8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.00 654.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 654.42 Td (3,759) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.00 654.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 654.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.00 654.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 654.42 Td (3,767) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 639.42 Td (Interest and other income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 639.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 639.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 639.42 Td (35) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 639.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 639.42 Td (35) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 624.42 Td (Total revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 624.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.65 624.42 Td (8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 624.42 Td (3,794) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 624.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 624.42 Td (3,802) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 609.42 Td (Costs of providing services) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 594.42 Td (Salaries and benefits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.65 594.42 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 594.42 Td (81) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 594.42 Td (2,232) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 594.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 594.42 Td (2,314) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 579.42 Td (Other operating expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 579.42 Td (16) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.65 579.42 Td (133) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 579.42 Td (510) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 579.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 579.42 Td (659) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 564.42 Td (Depreciation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 564.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 564.42 Td (21) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 564.42 Td (71) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 564.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 564.42 Td (92) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 549.42 Td (Amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 549.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 549.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 549.42 Td (54) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 549.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 549.42 Td (54) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 534.42 Td (Restructuring costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 534.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 534.42 Td (14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 534.42 Td (22) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 534.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 534.42 Td (36) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 519.42 Td (Total costs of providing services) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 519.42 Td (17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 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ET q 0 0 0 rg BT 401.65 489.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.30 489.47 Td (\(102) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 489.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.65 489.42 Td (526) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 489.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 474.42 Td (Expenses due to Group undertakings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 474.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.65 474.42 Td (102) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 474.42 Td (424) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.30 474.47 Td (\(526) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 474.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 474.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 459.42 Td (Interest expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 459.42 Td (43) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 459.42 Td (80) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 459.42 Td (12) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 459.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 459.42 Td (135) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 444.42 Td (Other expense/\(income\), net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 444.42 Td (15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.65 444.42 Td (220) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.30 444.47 Td (\(11) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 444.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.30 444.47 Td (\(230) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 444.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.30 444.47 Td (\(6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 444.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 429.42 Td (\(LOSS\) INCOME FROM CONTINUING OPERATIONS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 419.42 Td (BEFORE INCOME TAXES AND INTEREST IN) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 409.42 Td (EARNINGS OF ASSOCIATES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.30 409.47 Td (\(75) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.65 409.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.30 409.47 Td (\(219) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.65 409.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 409.42 Td (582) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.65 409.42 Td (230) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 409.42 Td (518) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 394.42 Td (\(Benefit from\)/provision for income taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 394.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.30 394.47 Td (\(49) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.65 394.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 394.42 Td (208) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 394.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 394.42 Td (159) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 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0.9333333333333333 1 rg /GS0 gs 357.50 349.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.50 349.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 349.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 349.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 349.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 349.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 349.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 319.75 256.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.50 319.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 319.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 319.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.50 319.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 319.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 319.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 319.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 319.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 319.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 289.75 256.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.50 289.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 289.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 289.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.50 289.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 289.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 289.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 289.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 289.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 289.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 259.75 256.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.50 259.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 259.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 259.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.50 259.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 259.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 259.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 259.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 259.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 259.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 229.75 256.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.50 229.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 229.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 229.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.50 229.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 229.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 229.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 229.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 229.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 229.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 199.75 256.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.50 199.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 199.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 199.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.50 199.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 199.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 199.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 199.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 199.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 199.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 169.75 256.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.50 169.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 169.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 169.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.50 169.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 169.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 169.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 169.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 169.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 169.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 139.75 256.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.50 139.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 139.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 139.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.50 139.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 139.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 139.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 139.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 139.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 139.75 48.00 -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 305.5 719.75 m 353.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 719.75 m 357.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 719.75 m 405.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 405.5 719.75 m 409.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 719.75 m 457.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457.5 719.75 m 461.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 719.75 m 509.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509.5 719.75 m 513.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 719.75 m 561.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 719.75 m 353.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 679.75 m 353.5 679.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 719.75 m 357.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 719.75 m 405.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 679.75 m 405.5 679.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 405.5 719.75 m 409.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 719.75 m 457.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 679.75 m 457.5 679.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457.5 719.75 m 461.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 719.75 m 509.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 679.75 m 509.5 679.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509.5 719.75 m 513.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 719.75 m 561.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 679.75 m 561.5 679.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 589.75 m 353.5 589.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 589.75 m 405.5 589.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 589.75 m 457.5 589.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 589.75 m 509.5 589.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 589.75 m 561.5 589.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 469.75 m 353.5 469.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 469.75 m 357.5 469.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 469.75 m 405.5 469.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 405.5 469.75 m 409.5 469.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 469.75 m 457.5 469.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457.5 469.75 m 461.5 469.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 469.75 m 509.5 469.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509.5 469.75 m 513.5 469.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 469.75 m 561.5 469.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 454.75 m 353.5 454.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 454.75 m 405.5 454.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 454.75 m 457.5 454.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 454.75 m 509.5 454.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 454.75 m 561.5 454.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 440.75 m 353.5 440.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 438.75 m 353.5 438.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 440.75 m 405.5 440.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 438.75 m 405.5 438.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 440.75 m 457.5 440.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 438.75 m 457.5 438.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 440.75 m 509.5 440.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 438.75 m 509.5 438.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 440.75 m 561.5 440.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 438.75 m 561.5 438.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 349.75 m 353.5 349.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 349.75 m 405.5 349.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 349.75 m 457.5 349.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 349.75 m 509.5 349.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 349.75 m 561.5 349.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 244.75 m 353.5 244.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 244.75 m 405.5 244.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 244.75 m 457.5 244.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 244.75 m 509.5 244.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 244.75 m 561.5 244.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 244.75 m 353.5 244.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 229.75 m 353.5 229.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 244.75 m 405.5 244.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 229.75 m 405.5 229.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 244.75 m 457.5 244.75 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 457.5 229.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 244.75 m 509.5 244.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 229.75 m 509.5 229.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 244.75 m 561.5 244.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 229.75 m 561.5 229.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 214.75 m 353.5 214.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 214.75 m 405.5 214.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 214.75 m 457.5 214.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 214.75 m 509.5 214.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 214.75 m 561.5 214.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 154.75 m 353.5 154.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 154.75 m 405.5 154.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 154.75 m 457.5 154.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 154.75 m 509.5 154.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 154.75 m 561.5 154.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 139.75 m 353.5 139.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 139.75 m 405.5 139.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 139.75 m 457.5 139.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 139.75 m 509.5 139.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 139.75 m 561.5 139.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 125.75 m 353.5 125.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 123.75 m 353.5 123.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 125.75 m 405.5 125.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 123.75 m 405.5 123.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 125.75 m 457.5 125.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 123.75 m 457.5 123.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 125.75 m 509.5 125.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 123.75 m 509.5 123.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 125.75 m 561.5 125.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 123.75 m 561.5 123.75 l s BT /F2 7.00 Tf ET q 0 0 0 rg BT 396.20 723.81 Td (As of December 31, 2016) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 320.30 711.81 Td (W) Tj ET Q q 0 0 0 rg BT 327.17 711.81 Td (illis) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 318.20 704.81 Td (T) Tj ET Q q 0 0 0 rg BT 322.23 704.81 Td (owers) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 313.30 697.81 Td (W) Tj ET Q q 0 0 0 rg BT 319.91 697.81 Td (atson ) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 313.40 690.81 Td (the Par) Tj ET Q q 0 0 0 rg BT 335.24 690.81 Td (ent) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 319.90 683.81 Td (Issuer) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 375.15 690.81 Td (The) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 363.50 683.81 Td (Guarantors) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 424.10 683.81 Td (Other) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 464.15 690.81 Td (Consolidating) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 466.70 683.81 Td (adjustments) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 517.35 683.81 Td (Consolidated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 669.42 Td (ASSETS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 654.42 Td (Cash and cash equivalents) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.00 654.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 654.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.00 654.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 654.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.00 654.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 654.42 Td (870) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.00 654.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 654.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.00 654.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 654.42 Td (870) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 639.42 Td (Fiduciary assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 639.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 639.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.10 639.42 Td (10,505) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 639.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.10 639.42 Td (10,505) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 624.42 Td (Accounts receivable, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 624.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.65 624.42 Td (7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 624.42 Td (2,073) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 624.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 624.42 Td (2,080) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 609.42 Td (Prepaid and other current assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 609.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 609.42 Td (72) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 609.42 Td (324) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.30 609.47 Td (\(59) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 609.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 609.42 Td (337) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 594.42 Td (Amounts due from group undertakings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.15 594.42 Td (7,229) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.15 594.42 Td (1,648) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 594.42 Td (2,370) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.80 594.47 Td (\(11,247) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 594.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 594.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 579.42 Td (Total current assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.15 579.42 Td (7,229) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.15 579.42 Td (1,727) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.10 579.42 Td (16,142) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.80 579.47 Td (\(11,306) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 579.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.10 579.42 Td (13,792) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 564.42 Td (Investments in subsidiaries) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.15 564.42 Td (3,409) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.15 564.42 Td (8,955) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 564.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.80 564.47 Td (\(12,364) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 564.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 564.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 549.42 Td (Fixed assets, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 549.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 549.42 Td (34) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 549.42 Td (805) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 549.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 549.42 Td (839) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 534.42 Td (Goodwill) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 534.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 534.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.10 534.42 Td (10,413) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 534.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.10 534.42 Td (10,413) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 519.42 Td (Other intangible assets, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 519.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 519.42 Td (64) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 519.42 Td (4,368) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.30 519.47 Td (\(64) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 519.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 519.42 Td (4,368) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 504.42 Td (Pension benefits assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 504.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 504.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 504.42 Td (488) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 504.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 504.42 Td (488) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 489.42 Td (Other non-current assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 489.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 489.42 Td (90) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 489.42 Td (310) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.30 489.47 Td (\(47) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 489.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 489.42 Td (353) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 474.42 Td (Non-current amounts due from group undertakings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 474.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.15 474.42 Td (4,973) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 474.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.80 474.47 Td (\(4,973) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 474.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 474.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 459.42 Td (Total non-current assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.15 459.42 Td (3,409) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.10 459.42 Td (14,116) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.10 459.42 Td (16,384) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.80 459.47 Td (\(17,448) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 459.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.10 459.42 Td (16,461) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 444.42 Td (TOTAL ASSETS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.00 444.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.10 444.42 Td (10,638) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.00 444.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.10 444.42 Td (15,843) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.00 444.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.10 444.42 Td (32,526) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.00 444.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.80 444.47 Td (\(28,754) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 444.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.00 444.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.10 444.42 Td (30,253) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 429.42 Td (LIABILITIES AND EQUITY) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 414.42 Td (Fiduciary liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.00 414.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 414.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.00 414.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 414.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.00 414.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.10 414.42 Td (10,505) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.00 414.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 414.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.00 414.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.10 414.42 Td (10,505) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 399.42 Td (Deferred revenue and accrued expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 399.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 399.42 Td (42) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 399.42 Td (1,488) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.30 399.47 Td (\(49) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 399.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 399.42 Td (1,481) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 384.42 Td (Short-term debt and current portion of long-term debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 384.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.65 384.42 Td (416) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 384.42 Td (92) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 384.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 384.42 Td (508) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 369.42 Td (Other current liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 369.42 Td (77) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.65 369.42 Td (117) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 369.42 Td (684) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.30 369.47 Td (\(2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 369.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 369.42 Td (876) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 354.42 Td (Amounts due to group undertakings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 354.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.15 354.42 Td (9,150) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 354.42 Td (2,097) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.80 354.47 Td (\(11,247) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 354.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 354.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 339.42 Td (Total current liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 339.42 Td (77) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.15 339.42 Td (9,725) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.10 339.42 Td (14,866) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.80 339.47 Td (\(11,298) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 339.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.10 339.42 Td (13,370) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 324.42 Td (Long-term debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.65 324.42 Td (496) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.15 324.42 Td (2,692) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 324.42 Td (169) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 324.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 324.42 Td (3,357) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 309.42 Td (Liability for pension benefits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 309.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 309.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 309.42 Td (1,321) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 309.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 309.42 Td (1,321) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 294.42 Td (Deferred tax liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 294.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 294.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 294.42 Td (1,013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.30 294.47 Td (\(149) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 294.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 294.42 Td (864) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 279.42 Td (Provision for liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 279.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.65 279.42 Td (120) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 279.42 Td (455) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 279.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 279.42 Td (575) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 264.42 Td (Other non-current liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 264.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 264.42 Td (63) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 264.42 Td (483) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.30 264.47 Td (\(14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 264.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 264.42 Td (532) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 249.42 Td (Non-current amounts due to group undertakings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 249.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 249.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 249.42 Td (4,973) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.80 249.47 Td (\(4,973) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 249.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 249.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 234.42 Td (Total non-current liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.65 234.42 Td (496) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.15 234.42 Td (2,875) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 234.42 Td (8,414) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.80 234.47 Td (\(5,136) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 234.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 234.42 Td (6,649) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 219.42 Td (TOTAL LIABILITIES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.65 219.42 Td (573) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.10 219.42 Td (12,600) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.10 219.42 Td (23,280) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.80 219.47 Td (\(16,434) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 219.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.10 219.42 Td (20,019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 204.42 Td (REDEEMABLE NONCONTROLLING INTEREST) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 204.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 204.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 204.42 Td (51) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 204.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 204.42 Td (51) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 189.42 Td (EQUITY) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 174.42 Td (Total Willis Towers Watson shareholders equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.10 174.42 Td (10,065) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.15 174.42 Td (3,243) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 174.42 Td (9,077) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.80 174.47 Td (\(12,320) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 174.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.10 174.42 Td (10,065) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 159.42 Td (Noncontrolling interests) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 159.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 159.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 159.42 Td (118) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 159.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 159.42 Td (118) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 144.42 Td (Total equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.10 144.42 Td (10,065) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.15 144.42 Td (3,243) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 144.42 Td (9,195) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.80 144.47 Td (\(12,320) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 144.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.10 144.42 Td (10,183) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 129.42 Td (TOTAL LIABILITIES AND EQUITY) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.00 129.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.10 129.42 Td (10,638) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.00 129.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.10 129.42 Td (15,843) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.00 129.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.10 129.42 Td (32,526) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.00 129.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.80 129.47 Td (\(28,754) Tj ET Q BT /F1 10.00 Tf 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353.50 229.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 229.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.50 229.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 229.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 229.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 229.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 229.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 229.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 199.75 256.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.50 199.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 199.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 199.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.50 199.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 199.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 199.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 199.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 199.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 199.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 169.75 256.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.50 169.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 169.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 169.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.50 169.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 169.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 169.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 169.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 169.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 169.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 139.75 256.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.50 139.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 139.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 139.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.50 139.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 139.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 139.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 139.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 139.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 139.75 48.00 -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 305.5 719.75 m 353.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 719.75 m 357.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 719.75 m 405.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 405.5 719.75 m 409.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 719.75 m 457.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457.5 719.75 m 461.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 719.75 m 509.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509.5 719.75 m 513.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 719.75 m 561.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 719.75 m 353.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 679.75 m 353.5 679.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 719.75 m 357.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 719.75 m 405.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 679.75 m 405.5 679.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 405.5 719.75 m 409.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 719.75 m 457.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 679.75 m 457.5 679.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457.5 719.75 m 461.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 719.75 m 509.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 679.75 m 509.5 679.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509.5 719.75 m 513.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 719.75 m 561.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 679.75 m 561.5 679.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 679.75 m 353.5 679.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 679.75 m 405.5 679.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 679.75 m 457.5 679.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 679.75 m 509.5 679.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 679.75 m 561.5 679.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 589.75 m 353.5 589.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 589.75 m 405.5 589.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 589.75 m 457.5 589.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 589.75 m 509.5 589.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 589.75 m 561.5 589.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 469.75 m 353.5 469.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 469.75 m 405.5 469.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 469.75 m 457.5 469.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 469.75 m 509.5 469.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 469.75 m 561.5 469.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 454.75 m 353.5 454.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 454.75 m 405.5 454.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 454.75 m 457.5 454.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 454.75 m 509.5 454.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 469.75 m 561.5 469.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 454.75 m 561.5 454.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 440.75 m 353.5 440.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 438.75 m 353.5 438.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 440.75 m 405.5 440.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 438.75 m 405.5 438.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 440.75 m 457.5 440.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 438.75 m 457.5 438.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 440.75 m 509.5 440.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 438.75 m 509.5 438.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 440.75 m 561.5 440.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 438.75 m 561.5 438.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 349.75 m 353.5 349.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 349.75 m 405.5 349.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 349.75 m 457.5 349.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 349.75 m 509.5 349.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 349.75 m 561.5 349.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 229.75 m 353.5 229.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 229.75 m 405.5 229.75 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 457.5 229.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 229.75 m 509.5 229.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 229.75 m 561.5 229.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 229.75 m 353.5 229.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 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108.75 m 353.5 108.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 110.75 m 405.5 110.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 108.75 m 405.5 108.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 110.75 m 457.5 110.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 108.75 m 457.5 108.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 110.75 m 509.5 110.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 108.75 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 513.5 110.75 m 561.5 110.75 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 561.5 108.75 l s BT /F2 7.00 Tf ET q 0 0 0 rg BT 396.20 723.81 Td (As of December 31, 2015) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 320.30 711.81 Td (W) Tj ET Q q 0 0 0 rg BT 327.17 711.81 Td (illis) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 318.20 704.81 Td (T) Tj ET Q q 0 0 0 rg BT 322.23 704.81 Td (owers) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 313.30 697.81 Td (W) Tj ET Q q 0 0 0 rg BT 319.91 697.81 Td (atson ) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 313.40 690.81 Td (the Par) Tj ET Q q 0 0 0 rg BT 335.24 690.81 Td (ent) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 319.90 683.81 Td (Issuer) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 375.15 690.81 Td (The) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 363.50 683.81 Td (Guarantors) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 424.10 683.81 Td (Other) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 464.15 690.81 Td (Consolidating) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 466.70 683.81 Td (adjustments) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 517.35 683.81 Td (Consolidated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 669.42 Td (ASSETS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 654.42 Td (Cash and cash equivalents) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.00 654.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.65 654.42 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.00 654.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.65 654.42 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.00 654.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 654.42 Td (527) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.00 654.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 654.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.00 654.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 654.42 Td (532) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 639.42 Td (Fiduciary assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 639.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 639.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.10 639.42 Td (10,458) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 639.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.10 639.42 Td (10,458) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 624.42 Td (Accounts receivable, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 624.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.65 624.42 Td (7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 624.42 Td (1,251) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 624.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 624.42 Td (1,258) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 609.42 Td (Prepaid and other current assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.65 609.42 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 609.42 Td (67) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 609.42 Td (194) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.30 609.47 Td (\(7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 609.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 609.42 Td (255) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 594.42 Td (Amounts due from group undertakings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.15 594.42 Td (3,423) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.15 594.42 Td (1,257) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 594.42 Td (1,259) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.80 594.47 Td (\(5,939) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 594.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 594.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 579.42 Td (Total current assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.15 579.42 Td (3,427) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.15 579.42 Td (1,333) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.10 579.42 Td (13,689) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.80 579.47 Td (\(5,946) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 579.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.10 579.42 Td (12,503) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 564.42 Td (Investments in subsidiaries) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 564.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.15 564.42 Td (4,275) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 564.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.80 564.47 Td (\(4,275) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 564.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 564.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 549.42 Td (Fixed assets, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 549.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 549.42 Td (58) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 549.42 Td (505) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 549.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 549.42 Td (563) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 534.42 Td (Goodwill) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 534.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 534.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 534.42 Td (3,737) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 534.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 534.42 Td (3,737) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 519.42 Td (Other intangible assets, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 519.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 519.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 519.42 Td (1,115) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 519.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 519.42 Td (1,115) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 504.42 Td (Pension benefits assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 504.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 504.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 504.42 Td (623) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 504.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 504.42 Td (623) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 489.42 Td (Other non-current assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 489.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 489.42 Td (10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 489.42 Td (288) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 489.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 489.42 Td (298) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 474.42 Td (Non-current amounts due from group undertakings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 474.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.65 474.42 Td (785) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 474.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.30 474.47 Td (\(785) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 474.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 474.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 459.42 Td (Total non-current assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 459.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.15 459.42 Td (5,128) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 459.42 Td (6,268) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.80 459.47 Td (\(5,060) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 459.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 459.42 Td (6,336) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 444.42 Td (TOTAL ASSETS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.00 444.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.15 444.42 Td (3,427) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.00 444.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.15 444.42 Td (6,461) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.00 444.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.10 444.42 Td (19,957) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.00 444.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.80 444.47 Td (\(11,006) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 444.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.00 444.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.10 444.42 Td (18,839) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 429.42 Td (LIABILITIES AND EQUITY) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 414.42 Td (Fiduciary liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.00 414.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 414.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.00 414.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 414.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.00 414.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.10 414.42 Td (10,458) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.00 414.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 414.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.00 414.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.10 414.42 Td (10,458) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 399.42 Td (Deferred revenue and accrued expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.65 399.42 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 399.42 Td (68) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 399.42 Td (683) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 399.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 399.42 Td (752) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 384.42 Td (Short-term debt and current portion of long-term debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.65 384.42 Td (300) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.65 384.42 Td (609) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 384.42 Td (79) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 384.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 384.42 Td (988) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 369.42 Td (Other current liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 369.42 Td (15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 369.42 Td (61) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 369.42 Td (534) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.30 369.47 Td (\(7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 369.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 369.42 Td (603) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 354.42 Td (Amounts due to group undertakings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 354.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.15 354.42 Td (4,437) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 354.42 Td (1,502) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.80 354.47 Td (\(5,939) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 354.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 354.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 339.42 Td (Total current liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.65 339.42 Td (316) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.15 339.42 Td (5,175) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.10 339.42 Td (13,256) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.80 339.47 Td (\(5,946) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 339.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.10 339.42 Td (12,801) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 324.42 Td (Investments in subsidiaries) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.65 324.42 Td (387) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 324.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 324.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.30 324.47 Td (\(387) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 324.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 324.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 309.42 Td (Long-term debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.65 309.42 Td (495) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.15 309.42 Td (1,783) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 309.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 309.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 309.42 Td (2,278) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 294.42 Td (Liability for pension benefits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 294.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 294.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 294.42 Td (279) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 294.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 294.42 Td (279) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 279.42 Td (Deferred tax liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 279.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.65 279.42 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 279.42 Td (239) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 279.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 279.42 Td (240) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 264.42 Td (Provision for liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 264.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 264.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 264.42 Td (295) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 264.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 264.42 Td (295) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 249.42 Td (Other non-current liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 249.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 249.42 Td (36) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 249.42 Td (497) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 249.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 249.42 Td (533) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 234.42 Td (Non-current amounts due to group undertakings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 234.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 234.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 234.42 Td (785) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.30 234.47 Td (\(785) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 234.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 234.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 219.42 Td (Total non-current liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.65 219.42 Td (882) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.15 219.42 Td (1,820) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 219.42 Td (2,095) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.80 219.47 Td (\(1,172) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 219.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 219.42 Td (3,625) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 204.42 Td (TOTAL LIABILITIES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.15 204.42 Td (1,198) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.15 204.42 Td (6,995) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.10 204.42 Td (15,351) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.80 204.47 Td (\(7,118) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 204.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.10 204.42 Td (16,426) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 189.42 Td (REDEEMABLE NONCONTROLLING INTEREST) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 189.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 189.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 189.42 Td (53) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 189.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 189.42 Td (53) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 174.42 Td (EQUITY) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 159.42 Td (Total Willis Towers Watson shareholders equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.15 159.42 Td (2,229) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.30 159.47 Td (\(534) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.65 159.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 159.42 Td (4,422) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.80 159.47 Td (\(3,888) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 159.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 159.42 Td (2,229) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 144.42 Td (Noncontrolling interests) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 144.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 144.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 144.42 Td (131) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 144.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 144.42 Td (131) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 129.42 Td (Total equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.15 129.42 Td (2,229) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.30 129.47 Td (\(534) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.65 129.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 129.42 Td (4,553) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.80 129.47 Td (\(3,888) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 129.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 129.42 Td (2,360) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 114.42 Td (TOTAL LIABILITIES AND EQUITY) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.00 114.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.15 114.42 Td (3,427) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.00 114.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.15 114.42 Td (6,461) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.00 114.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.10 114.42 Td (19,957) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.00 114.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.80 114.47 Td (\(11,006) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 114.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.00 114.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.10 114.42 Td (18,839) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 319 0 obj <> endobj 320 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.50 31.60 Td (159) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 198.90 742.25 Td (Condensed Consolidated Statement of Cash Flows) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 676.75 256.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.50 676.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 676.75 4.00 -15.00 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/GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 501.75 m 561.5 501.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 501.75 m 353.5 501.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 486.75 m 353.5 486.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 501.75 m 405.5 501.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 486.75 m 405.5 486.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 501.75 m 457.5 501.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 486.75 m 457.5 486.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 501.75 m 509.5 501.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 486.75 m 509.5 486.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 501.75 m 561.5 501.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 486.75 m 561.5 486.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 251.75 m 353.5 251.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 251.75 m 405.5 251.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 251.75 m 457.5 251.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 251.75 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 513.5 251.75 m 561.5 251.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 251.75 m 353.5 251.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 236.75 m 353.5 236.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 251.75 m 405.5 251.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 236.75 m 405.5 236.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 251.75 m 457.5 251.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 236.75 m 457.5 236.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 251.75 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 461.5 236.75 m 509.5 236.75 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 561.5 251.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 236.75 m 561.5 236.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 171.75 m 353.5 171.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 171.75 m 405.5 171.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 171.75 m 457.5 171.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 171.75 m 509.5 171.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 171.75 m 561.5 171.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 157.75 m 353.5 157.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 155.75 m 353.5 155.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 157.75 m 405.5 157.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 155.75 m 405.5 155.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 157.75 m 457.5 157.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 155.75 m 457.5 155.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 157.75 m 509.5 157.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 155.75 m 509.5 155.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 157.75 m 561.5 157.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 155.75 m 561.5 155.75 l s BT /F2 7.00 Tf ET q 0 0 0 rg BT 387.15 720.81 Td (Year ended December 31, 2016) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 320.30 708.81 Td (W) Tj ET Q q 0 0 0 rg BT 327.17 708.81 Td (illis) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 318.20 701.81 Td (T) Tj ET Q q 0 0 0 rg BT 322.23 701.81 Td (owers) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 313.30 694.81 Td (W) Tj ET Q q 0 0 0 rg BT 319.91 694.81 Td (atson ) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 313.40 687.81 Td (the Par) Tj ET Q q 0 0 0 rg BT 335.24 687.81 Td (ent) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 319.90 680.81 Td (Issuer) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 375.15 687.81 Td (The) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 363.50 680.81 Td (Guarantors) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 424.10 680.81 Td (Other) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 464.15 687.81 Td (Consolidating) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 466.70 680.81 Td (adjustments) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 517.35 680.81 Td (Consolidated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 666.42 Td (NET CASH \(USED IN\)/FROM OPERATING ACTIVITIES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.00 666.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.30 666.47 Td (\(20) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.65 666.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.00 666.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.30 666.47 Td (\(4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.65 666.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.00 666.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 666.42 Td (1,101) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.00 666.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.30 666.47 Td (\(157) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 666.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.00 666.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 666.42 Td (920) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 651.42 Td (CASH FLOWS FROM/\(USED IN\) INVESTING) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 641.42 Td (ACTIVITIES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 626.42 Td (Additions to fixed assets and software for internal use) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 626.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.30 626.47 Td (\(91) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.65 626.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.30 626.47 Td (\(221) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 626.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 626.42 Td (94) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.30 626.47 Td (\(218) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 626.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 611.42 Td (Capitalized software costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 611.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 611.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.30 611.47 Td (\(85) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 611.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 611.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.30 611.47 Td (\(85) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 611.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 596.42 Td (Acquisitions of operations, net of cash acquired) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 596.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 596.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 596.42 Td (476) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 596.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 596.42 Td (476) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 581.42 Td (Net \(cash paid\)/proceeds from sale of operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 581.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 581.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.30 581.47 Td (\(4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 581.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.65 581.42 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.30 581.47 Td (\(1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 581.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 566.42 Td (Other, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 566.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 566.42 Td (33) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 566.42 Td (20) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.30 566.47 Td (\(30) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 566.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 566.42 Td (23) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 551.42 Td (Proceeds from intercompany investing activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 551.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.65 551.42 Td (118) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 551.42 Td (30) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.30 551.47 Td (\(148) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 551.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 551.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 536.42 Td (Repayments of intercompany investing activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.80 536.47 Td (\(3,751) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.65 536.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 375.80 536.47 Td (\(4,114) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.65 536.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.30 536.47 Td (\(769) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 536.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.15 536.42 Td (8,634) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 536.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 521.42 Td (Reduction in investment in subsidiaries) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.15 521.42 Td (4,600) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.15 521.42 Td (3,600) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 521.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.80 521.47 Td (\(8,200) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 521.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 521.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 506.42 Td (Additional investment in subsidiaries) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 506.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 375.80 506.47 Td (\(4,600) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.65 506.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.80 506.47 Td (\(3,600) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 506.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.15 506.42 Td (8,200) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 506.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.00 491.42 Td (Net cash from/\(used in\) investing activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.00 491.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.65 491.42 Td (849) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.00 491.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 375.80 491.47 Td (\(5,054) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.65 491.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.00 491.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.80 491.47 Td (\(4,153) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 491.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.00 491.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.15 491.42 Td (8,553) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.00 491.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 491.42 Td (195) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 476.42 Td (CASH FLOWS \(USED IN\)/FROM FINANCING) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 466.42 Td (ACTIVITIES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 441.42 Td (Net \(payments\)/borrowings on revolving credit facility) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 441.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.30 441.47 Td (\(237) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.65 441.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 441.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 441.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.30 441.47 Td (\(237) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 441.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 426.42 Td (Senior notes issued) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 426.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.15 426.42 Td (1,606) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 426.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 426.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 426.42 Td (1,606) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 411.42 Td (Proceeds from issuance of other debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 411.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.65 411.42 Td (400) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.65 411.42 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 411.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 411.42 Td (404) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 396.42 Td (Debt issuance costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 396.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.30 396.47 Td (\(14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.65 396.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 396.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 396.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.30 396.47 Td (\(14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 396.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 381.42 Td (Repayments of debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.30 381.47 Td (\(300) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.65 381.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 375.80 381.47 Td (\(1,037) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.65 381.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.30 381.47 Td (\(564) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 381.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 381.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.80 381.47 Td (\(1,901) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 381.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 366.42 Td (Repurchase of shares) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.30 366.47 Td (\(396) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.65 366.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 366.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 366.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 366.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.30 366.47 Td (\(396) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 366.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 351.42 Td (Proceeds from issuance of shares and excess tax benefit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 351.42 Td (63) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 351.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 351.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 351.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 351.42 Td (63) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 336.42 Td (Payments of deferred and contingent consideration ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.00 326.42 Td (related to acquisitions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 326.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 326.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.30 326.47 Td (\(67) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 326.42 Td (\)) Tj ET Q BT 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509.50 306.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 306.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 276.75 256.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.50 276.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 276.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 276.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.50 276.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 276.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 276.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 276.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 276.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 276.75 48.00 -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 305.5 716.75 m 353.5 716.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 716.75 m 357.5 716.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 716.75 m 405.5 716.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 405.5 716.75 m 409.5 716.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 716.75 m 457.5 716.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457.5 716.75 m 461.5 716.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 716.75 m 509.5 716.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509.5 716.75 m 513.5 716.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 716.75 m 561.5 716.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 716.75 m 353.5 716.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 676.75 m 353.5 676.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 716.75 m 357.5 716.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 716.75 m 405.5 716.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 676.75 m 405.5 676.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 405.5 716.75 m 409.5 716.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 716.75 m 457.5 716.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 676.75 m 457.5 676.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457.5 716.75 m 461.5 716.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 716.75 m 509.5 716.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 676.75 m 509.5 676.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509.5 716.75 m 513.5 716.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 716.75 m 561.5 716.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 676.75 m 561.5 676.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 661.75 m 353.5 661.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 676.75 m 405.5 676.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 661.75 m 405.5 661.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 676.75 m 457.5 676.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 661.75 m 457.5 661.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 676.75 m 509.5 676.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 661.75 m 509.5 661.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 676.75 m 561.5 676.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 661.75 m 561.5 661.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 531.75 m 353.5 531.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 516.75 m 353.5 516.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 531.75 m 405.5 531.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 516.75 m 405.5 516.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 531.75 m 457.5 531.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 516.75 m 457.5 516.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 531.75 m 509.5 531.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 516.75 m 509.5 516.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 531.75 m 561.5 531.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 516.75 m 561.5 516.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 321.75 m 353.5 321.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 306.75 m 353.5 306.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 321.75 m 405.5 321.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 306.75 m 405.5 306.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 321.75 m 457.5 321.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 306.75 m 457.5 306.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 321.75 m 509.5 321.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 306.75 m 509.5 306.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 321.75 m 561.5 321.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 306.75 m 561.5 306.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 251.75 m 353.5 251.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 237.75 m 353.5 237.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 235.75 m 353.5 235.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 251.75 m 405.5 251.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 237.75 m 405.5 237.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 235.75 m 405.5 235.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 251.75 m 457.5 251.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 237.75 m 457.5 237.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 235.75 m 457.5 235.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 251.75 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 461.5 237.75 m 509.5 237.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 235.75 m 509.5 235.75 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 561.5 251.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 237.75 m 561.5 237.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 235.75 m 561.5 235.75 l s BT /F2 7.00 Tf ET q 0 0 0 rg BT 387.15 720.81 Td (Year ended December 31, 2015) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 320.30 708.81 Td (W) Tj ET Q q 0 0 0 rg BT 327.17 708.81 Td (illis) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 318.20 701.81 Td (T) Tj ET Q q 0 0 0 rg BT 322.23 701.81 Td (owers) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 313.30 694.81 Td (W) Tj ET Q q 0 0 0 rg BT 319.91 694.81 Td (atson ) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 313.40 687.81 Td (the Par) Tj ET Q q 0 0 0 rg BT 335.24 687.81 Td (ent) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 319.90 680.81 Td (Issuer) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 375.15 687.81 Td (The) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 363.50 680.81 Td (Guarantors) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 424.10 680.81 Td (Other) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 464.15 687.81 Td (Consolidating) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 466.70 680.81 Td (adjustments) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 517.35 680.81 Td (Consolidated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 666.42 Td (NET CASH \(USED IN\)/FROM OPERATING ACTIVITIES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.00 666.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.30 666.47 Td (\(10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.65 666.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.00 666.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.65 666.42 Td (626) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.00 666.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.30 666.47 Td (\(223) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 666.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.00 666.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.30 666.47 Td (\(150) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 666.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.00 666.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 666.42 Td (243) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 651.42 Td (CASH FLOWS FROM/\(USED IN\) INVESTING) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 641.42 Td (ACTIVITIES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 626.42 Td (Additions to fixed assets and software for internal use) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 626.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.30 626.47 Td (\(18) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.65 626.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.30 626.47 Td (\(128) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 626.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 626.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.30 626.47 Td (\(146) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 626.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 611.42 Td (Acquisitions of operations, net of cash acquired) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 611.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 611.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.30 611.47 Td (\(857) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 611.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 611.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.30 611.47 Td (\(857) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 611.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 596.42 Td (Proceeds from sale of operations, net of cash disposed) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 596.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 596.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 596.42 Td (44) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 596.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 596.42 Td (44) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 581.42 Td (Other, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 581.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 581.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 581.42 Td (16) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 581.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 581.42 Td (16) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 566.42 Td (Proceeds from intercompany investing activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.65 566.42 Td (321) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.65 566.42 Td (136) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 566.42 Td (151) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.30 566.47 Td (\(608) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 566.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 566.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 551.42 Td (Repayments of intercompany investing activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.30 551.47 Td (\(82) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.65 551.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.30 551.47 Td (\(746) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.65 551.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.30 551.47 Td (\(181) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 551.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.15 551.42 Td (1,009) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 551.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 536.42 Td (Additional investment in subsidiaries) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 536.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.30 536.47 Td (\(598) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.65 536.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 536.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.65 536.42 Td (598) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 536.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.00 521.42 Td (Net cash from/\(used in\) investing activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.00 521.42 Td 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/GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 460.50 376.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.50 376.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 376.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 346.75 254.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 304.50 346.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.50 346.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 346.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 346.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 346.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 456.50 346.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 460.50 346.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.50 346.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 346.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 306.75 254.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 304.50 306.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.50 306.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 306.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 306.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 306.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 456.50 306.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 460.50 306.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.50 306.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 306.75 48.00 -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 304.5 716.75 m 352.5 716.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 352.5 716.75 m 356.5 716.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 716.75 m 404.5 716.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404.5 716.75 m 408.5 716.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 716.75 m 456.5 716.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 456.5 716.75 m 460.5 716.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 716.75 m 508.5 716.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508.5 716.75 m 512.5 716.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 716.75 m 560.5 716.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 716.75 m 352.5 716.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 676.75 m 352.5 676.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 352.5 716.75 m 356.5 716.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 716.75 m 404.5 716.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 676.75 m 404.5 676.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404.5 716.75 m 408.5 716.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 716.75 m 456.5 716.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 676.75 m 456.5 676.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 456.5 716.75 m 460.5 716.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 716.75 m 508.5 716.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 676.75 m 508.5 676.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508.5 716.75 m 512.5 716.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 716.75 m 560.5 716.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 676.75 m 560.5 676.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 676.75 m 352.5 676.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 661.75 m 352.5 661.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 676.75 m 404.5 676.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 661.75 m 404.5 661.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 676.75 m 456.5 676.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 661.75 m 456.5 661.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 676.75 m 508.5 676.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 661.75 m 508.5 661.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 676.75 m 560.5 676.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 661.75 m 560.5 661.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 531.75 m 352.5 531.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 516.75 m 352.5 516.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 531.75 m 404.5 531.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 516.75 m 404.5 516.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 531.75 m 456.5 531.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 516.75 m 456.5 516.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 531.75 m 508.5 531.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 516.75 m 508.5 516.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 531.75 m 560.5 531.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 516.75 m 560.5 516.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 361.75 m 352.5 361.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 346.75 m 352.5 346.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 361.75 m 404.5 361.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 346.75 m 404.5 346.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 361.75 m 456.5 361.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 346.75 m 456.5 346.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 361.75 m 508.5 361.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 346.75 m 508.5 346.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 361.75 m 560.5 361.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 346.75 m 560.5 346.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 281.75 m 352.5 281.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 267.75 m 352.5 267.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 265.75 m 352.5 265.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 281.75 m 404.5 281.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 267.75 m 404.5 267.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 265.75 m 404.5 265.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 281.75 m 456.5 281.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 267.75 m 456.5 267.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 265.75 m 456.5 265.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 281.75 m 508.5 281.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 267.75 m 508.5 267.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 265.75 m 508.5 265.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 281.75 m 560.5 281.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 267.75 m 560.5 267.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 265.75 m 560.5 265.75 l s BT /F2 7.00 Tf ET q 0 0 0 rg BT 386.15 720.81 Td (Year ended December 31, 2014) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 319.30 708.81 Td (Willis) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 317.20 701.81 Td (Towers) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 312.30 694.81 Td (Watson ) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 312.40 687.81 Td (the Parent) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 318.90 680.81 Td (Issuer) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 374.15 687.81 Td (The) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 362.50 680.81 Td (Guarantors) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 423.10 680.81 Td (Other) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 463.15 687.81 Td (Consolidating) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 465.70 680.81 Td (adjustments) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 516.35 680.81 Td (Consolidated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 666.42 Td (NET CASH \(USED IN\)/FROM OPERATING ACTIVITIES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.00 666.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.30 666.47 Td (\(35) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.65 666.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.00 666.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.65 666.42 Td (652) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.00 666.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.65 666.42 Td (212) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.00 666.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.30 666.47 Td (\(352) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.65 666.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.00 666.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.65 666.42 Td (477) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 651.42 Td (CASH FLOWS FROM/\(USED IN\) INVESTING) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 641.42 Td (ACTIVITIES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 626.42 Td (Additions to fixed assets and software for internal use) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 338.65 626.43 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.30 626.47 Td (\(19) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.65 626.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.30 626.47 Td (\(95) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.65 626.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.65 626.42 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.30 626.47 Td (\(113) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 556.65 626.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 611.42 Td (Acquisitions of operations, net of cash acquired) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.65 611.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.65 611.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.30 611.47 Td (\(245) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.65 611.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.65 611.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.30 611.47 Td (\(245) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 556.65 611.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 596.42 Td (Proceeds from sale of operations, net of cash disposed) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.65 596.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.65 596.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.65 596.42 Td (86) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.65 596.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.65 596.42 Td (86) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 581.42 Td (Other, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.65 581.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.65 581.42 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.30 581.47 Td (\(4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.65 581.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.30 581.47 Td (\(1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.65 581.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.30 581.47 Td (\(4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 556.65 581.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 566.42 Td (Proceeds from intercompany investing activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.65 566.42 Td (361) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.65 566.42 Td (120) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.65 566.42 Td (435) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.30 566.47 Td (\(916) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.65 566.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.65 566.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 551.42 Td (Repayments of intercompany investing activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.65 551.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.30 551.47 Td (\(180) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.65 551.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.30 551.47 Td (\(46) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.65 551.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.65 551.42 Td (226) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.65 551.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 536.42 Td (Additional investment in subsidiaries) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.30 536.47 Td (\(31) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.65 536.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.65 536.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.65 536.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.65 536.42 Td (31) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.65 536.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.00 521.42 Td (Net cash from/\(used in\) investing activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.00 521.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.65 521.42 Td (330) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.00 521.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.30 521.47 Td (\(78) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.65 521.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.00 521.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.65 521.42 Td (131) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.00 521.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.30 521.47 Td (\(659) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.65 521.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.00 521.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.30 521.47 Td (\(276) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 556.65 521.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 506.42 Td (CASH FLOWS \(USED IN\)/FROM FINANCING) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.00 496.42 Td (ACTIVITIES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 481.42 Td (Debt issuance costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.65 481.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.65 481.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.30 481.47 Td (\(3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.65 481.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.65 481.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.30 481.47 Td (\(3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 556.65 481.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 466.42 Td (Repayments of debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.65 466.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.30 466.47 Td (\(15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.65 466.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.65 466.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.65 466.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.30 466.47 Td (\(15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 556.65 466.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 451.42 Td (Repurchase of shares) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.30 451.47 Td (\(213) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.65 451.42 Td 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543.30 396.47 Td (\(21) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 556.65 396.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 381.42 Td (Proceeds from intercompany financing activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.65 381.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.65 381.42 Td (46) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.65 381.42 Td (180) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.30 381.47 Td (\(226) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.65 381.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.65 381.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 366.42 Td (Repayments of intercompany financing activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.65 366.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.30 366.47 Td (\(602) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.65 366.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.30 366.47 Td (\(314) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.65 366.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.65 366.42 Td (916) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.65 366.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.00 351.42 Td (Net cash \(used in\)/from financing activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.00 351.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.30 351.47 Td (\(289) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.65 351.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.00 351.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.30 351.47 Td (\(575) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.65 351.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.00 351.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.30 351.47 Td (\(470) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.65 351.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.00 351.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.15 351.42 Td (1,011) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.00 351.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.30 351.47 Td (\(323) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 556.65 351.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 336.42 Td (INCREASE/\(DECREASE\) IN CASH AND CASH) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 326.42 Td (EQUIVALENTS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.65 326.42 Td (6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.30 326.47 Td (\(1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.65 326.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.30 326.47 Td (\(127) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.65 326.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.65 326.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.30 326.47 Td (\(122) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 556.65 326.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 311.42 Td (Effect of exchange rate changes on cash and cash equivalents) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.65 311.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.65 311.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.30 311.47 Td (\(39) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.65 311.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.65 311.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.30 311.47 Td (\(39) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 556.65 311.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 296.42 Td (CASH AND CASH EQUIVALENTS, BEGINNING OF) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 286.42 Td (PERIOD) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.65 286.42 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.65 286.42 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.65 286.42 Td (790) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.65 286.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.65 286.42 Td (796) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 271.42 Td (CASH AND CASH EQUIVALENTS, END OF PERIOD) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.00 271.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.65 271.42 Td (9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.00 271.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.65 271.42 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.00 271.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.65 271.42 Td (624) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.00 271.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.65 271.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.00 271.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.65 271.42 Td (635) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 325 0 obj <> endobj 326 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.50 31.60 Td (162) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (Note 23 Financial Information for) Tj ET Q q 0 0 0 rg BT 207.30 742.25 Td ( Issuer) Tj ET Q q 0 0 0 rg BT 235.00 742.25 Td (, Par) Tj ET Q q 0 0 0 rg BT 255.37 742.25 Td (ent Guarantor) Tj ET Q q 0 0 0 rg BT 316.39 742.25 Td (, Other) Tj ET Q q 0 0 0 rg BT 346.75 742.25 Td ( Guarantor) Tj ET Q q 0 0 0 rg BT 395.18 742.25 Td ( Subsidiaries and Non-Guarantor) Tj ET Q q 0 0 0 rg BT 538.09 742.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 99.50 730.25 Td (Subsidiaries ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 709.25 Td (T) Tj ET Q q 0 0 0 rg BT 55.76 709.25 Td (rinity ) Tj ET Q q 0 0 0 rg BT 79.34 709.25 Td (Acquisition ) Tj ET Q q 0 0 0 rg BT 128.47 709.25 Td (plc ) Tj ET Q q 0 0 0 rg BT 143.16 709.25 Td (has ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 158.95 709.25 Td ($2.1 ) Tj ET Q q 0 0 0 rg BT 178.92 709.25 Td (billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 205.03 709.25 Td ( ) Tj ET Q q 0 0 0 rg BT 207.50 709.25 Td (of ) Tj ET Q q 0 0 0 rg BT 218.29 709.25 Td (senior ) Tj ET Q q 0 0 0 rg BT 245.20 709.25 Td (notes ) Tj ET Q q 0 0 0 rg BT 268.77 709.25 Td (outstanding, ) Tj ET Q q 0 0 0 rg BT 320.40 709.25 Td (of ) Tj ET Q q 0 0 0 rg BT 331.20 709.25 Td (which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.10 709.25 Td ($525 ) Tj ET Q q 0 0 0 rg BT 380.57 709.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.46 709.25 Td ( ) Tj ET Q q 0 0 0 rg BT 411.93 709.25 Td (were ) Tj ET Q q 0 0 0 rg BT 433.82 709.25 Td (issued ) Tj ET Q q 0 0 0 rg BT 461.29 709.25 Td (on ) Tj ET Q q 0 0 0 rg BT 473.21 709.25 Td (August ) Tj ET Q q 0 0 0 rg BT 504.57 709.25 Td (15, ) Tj ET Q q 0 0 0 rg BT 519.53 709.25 Td (2013, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.50 709.25 Td ($1.0 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 697.25 Td (billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.11 697.25 Td ( ) Tj ET Q q 0 0 0 rg BT 78.61 697.25 Td (were ) Tj ET Q q 0 0 0 rg BT 100.54 697.25 Td (issued ) Tj ET Q q 0 0 0 rg BT 128.04 697.25 Td (on ) Tj ET Q q 0 0 0 rg BT 140.54 697.25 Td (March ) Tj ET Q q 0 0 0 rg BT 169.14 697.25 Td (22, ) Tj ET Q q 0 0 0 rg BT 184.14 697.25 Td (2016 ) Tj ET Q q 0 0 0 rg BT 206.64 697.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 223.58 697.25 Td (540 ) Tj ET Q q 0 0 0 rg BT 246.08 697.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.97 697.25 Td ( ) Tj ET Q q 0 0 0 rg BT 277.47 697.25 Td (\() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 280.80 697.25 Td ($609 ) Tj ET Q q 0 0 0 rg BT 303.30 697.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.19 697.25 Td (\) ) Tj ET Q q 0 0 0 rg BT 338.02 697.25 Td (were ) Tj ET Q q 0 0 0 rg BT 359.95 697.25 Td (issued ) Tj ET Q q 0 0 0 rg BT 387.45 697.25 Td (on ) Tj ET Q q 0 0 0 rg BT 399.95 697.25 Td (May ) Tj ET Q q 0 0 0 rg BT 420.78 697.25 Td (26, ) Tj ET Q q 0 0 0 rg BT 435.78 697.25 Td (2016.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 676.25 Td (All ) Tj ET Q q 0 0 0 rg BT 65.77 676.25 Td (direct ) Tj ET Q q 0 0 0 rg BT 91.53 676.25 Td (obligations ) Tj ET Q q 0 0 0 rg BT 138.96 676.25 Td (under ) Tj ET Q q 0 0 0 rg BT 164.72 676.25 Td (the ) Tj ET Q q 0 0 0 rg BT 179.93 676.25 Td (senior ) Tj ET Q q 0 0 0 rg BT 207.36 676.25 Td (notes ) Tj ET Q q 0 0 0 rg BT 231.46 676.25 Td (are ) Tj ET Q q 0 0 0 rg BT 246.66 676.25 Td (jointly ) Tj ET Q q 0 0 0 rg BT 275.77 676.25 Td (and ) Tj ET Q q 0 0 0 rg BT 293.20 676.25 Td (severally) Tj ET Q q 0 0 0 rg BT 328.64 676.25 Td (, ) Tj ET Q q 0 0 0 rg BT 334.13 676.25 Td (irrevocably ) Tj ET Q q 0 0 0 rg BT 382.66 676.25 Td (and ) Tj ET Q q 0 0 0 rg BT 400.09 676.25 Td (fully ) Tj ET Q q 0 0 0 rg BT 421.97 676.25 Td (and ) Tj ET Q q 0 0 0 rg BT 439.40 676.25 Td (unconditionally ) Tj ET Q q 0 0 0 rg BT 505.16 676.25 Td (guaranteed ) Tj ET Q q 0 0 0 rg BT 552.01 676.25 Td (by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 664.25 Td (W) Tj ET Q q 0 0 0 rg BT 59.04 664.25 Td (illis ) Tj ET Q q 0 0 0 rg BT 76.81 664.25 Td (Netherlands ) Tj ET Q q 0 0 0 rg BT 127.90 664.25 Td (Holdings ) Tj ET Q q 0 0 0 rg BT 167.34 664.25 Td (B.V) Tj ET Q q 0 0 0 rg BT 182.44 664.25 Td (., ) Tj ET Q q 0 0 0 rg BT 190.01 664.25 Td (W) Tj ET Q q 0 0 0 rg BT 199.05 664.25 Td (illis ) Tj ET Q q 0 0 0 rg BT 216.83 664.25 Td (Investment ) Tj ET Q q 0 0 0 rg BT 264.03 664.25 Td (U.K. ) Tj ET Q q 0 0 0 rg BT 286.25 664.25 Td (Holdings ) Tj ET Q q 0 0 0 rg BT 325.69 664.25 Td (Limited, ) Tj ET Q q 0 0 0 rg BT 362.42 664.25 Td (T) Tj ET Q q 0 0 0 rg BT 367.73 664.25 Td (A) Tj ET Q q 0 0 0 rg BT 374.40 664.25 Td ( ) Tj ET Q q 0 0 0 rg BT 377.17 664.25 Td (I ) Tj ET Q q 0 0 0 rg BT 383.27 664.25 Td (Limited, ) Tj ET Q q 0 0 0 rg BT 420.00 664.25 Td (W) Tj ET Q q 0 0 0 rg BT 429.04 664.25 Td (illis ) Tj ET Q q 0 0 0 rg BT 446.81 664.25 Td (Group ) Tj ET Q q 0 0 0 rg BT 475.14 664.25 Td (Limited, ) Tj ET Q q 0 0 0 rg BT 511.87 664.25 Td (W) Tj ET Q q 0 0 0 rg BT 520.91 664.25 Td (illis ) Tj ET Q q 0 0 0 rg BT 538.68 664.25 Td (North ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 652.25 Td (America ) Tj ET Q q 0 0 0 rg BT 86.25 652.25 Td (Inc., ) Tj ET Q q 0 0 0 rg BT 105.71 652.25 Td (W) Tj ET Q q 0 0 0 rg BT 114.75 652.25 Td (illis ) Tj ET Q q 0 0 0 rg BT 131.44 652.25 Td (T) Tj ET Q q 0 0 0 rg BT 136.85 652.25 Td (owers ) Tj ET Q q 0 0 0 rg BT 162.43 652.25 Td (W) Tj ET Q q 0 0 0 rg BT 171.06 652.25 Td (atson ) Tj ET Q q 0 0 0 rg BT 194.00 652.25 Td (Sub ) Tj ET Q q 0 0 0 rg BT 211.38 652.25 Td (Holdings ) Tj ET Q q 0 0 0 rg BT 249.88 652.25 Td (Unlimited ) Tj ET Q q 0 0 0 rg BT 292.25 652.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 332.96 652.25 Td (and ) Tj ET Q q 0 0 0 rg BT 349.09 652.25 Td (WTW) Tj ET Q q 0 0 0 rg BT 373.90 652.25 Td ( ) Tj ET Q q 0 0 0 rg BT 375.72 652.25 Td (Bermuda ) Tj ET Q q 0 0 0 rg BT 414.20 652.25 Td (Holdings ) Tj ET Q q 0 0 0 rg BT 452.69 652.25 Td (Ltd., ) Tj ET Q q 0 0 0 rg BT 473.40 652.25 Td (collectively ) Tj ET Q q 0 0 0 rg BT 521.87 652.25 Td (the ) Tj ET Q q 0 0 0 rg BT 535.91 652.25 Td (Other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 640.25 Td (Guarantors, ) Tj ET Q q 0 0 0 rg BT 102.76 640.25 Td (and ) Tj ET Q q 0 0 0 rg BT 119.70 640.25 Td (with ) Tj ET Q q 0 0 0 rg BT 139.79 640.25 Td (W) Tj ET Q q 0 0 0 rg BT 148.83 640.25 Td (illis ) Tj ET Q q 0 0 0 rg BT 166.16 640.25 Td (T) Tj ET Q q 0 0 0 rg BT 171.57 640.25 Td (owers ) Tj ET Q q 0 0 0 rg BT 197.77 640.25 Td (W) Tj ET Q q 0 0 0 rg BT 206.41 640.25 Td (atson, ) Tj ET Q q 0 0 0 rg BT 232.51 640.25 Td (the ) Tj ET Q q 0 0 0 rg BT 247.23 640.25 Td (Guarantor ) Tj ET Q q 0 0 0 rg BT 293.60 640.25 Td (Companies.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 619.25 Td (The guarantor structure described above dif) Tj ET Q q 0 0 0 rg BT 224.47 619.25 Td (fers from the guarantor structure associated with the senior notes issued by the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 607.25 Td (Company and ) Tj ET Q q 0 0 0 rg BT 108.14 607.25 Td (W) Tj ET Q q 0 0 0 rg BT 117.18 607.25 Td (illis North ) Tj ET Q q 0 0 0 rg BT 159.97 607.25 Td (America \(the W) Tj ET Q q 0 0 0 rg BT 227.30 607.25 Td (illis North ) Tj ET Q q 0 0 0 rg BT 270.09 607.25 Td (America Debt Securities\) in that ) Tj ET Q q 0 0 0 rg BT 405.14 607.25 Td (T) Tj ET Q q 0 0 0 rg BT 410.89 607.25 Td (rinity ) Tj ET Q q 0 0 0 rg BT 434.51 607.25 Td (Acquisition plc is the issuer ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 595.25 Td (and not a subsidiary guarantor) Tj ET Q q 0 0 0 rg BT 170.68 595.25 Td (, and ) Tj ET Q q 0 0 0 rg BT 192.44 595.25 Td (W) Tj ET Q q 0 0 0 rg BT 201.47 595.25 Td (illis North ) Tj ET Q q 0 0 0 rg BT 244.26 595.25 Td (America Inc. is a subsidiary guarantor) Tj ET Q q 0 0 0 rg BT 396.43 595.25 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.25 Td (Presented below is condensed consolidating financial information for:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.35 553.25 Td (\(i\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.35 553.25 Td (W) Tj ET Q q 0 0 0 rg BT 84.39 553.25 Td (illis ) Tj ET Q q 0 0 0 rg BT 101.71 553.25 Td (T) Tj ET Q q 0 0 0 rg BT 107.12 553.25 Td (owers ) Tj ET Q q 0 0 0 rg BT 133.32 553.25 Td (W) Tj ET Q q 0 0 0 rg BT 141.96 553.25 Td (atson, which is a guarantor) Tj ET Q q 0 0 0 rg BT 249.03 553.25 Td (, on a parent company only basis;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.35 532.25 Td (\(ii\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.35 532.25 Td (the Other Guarantors, which are all wholly owned subsidiaries \(directly or indirectly\) of the parent. ) Tj ET Q q 0 0 0 rg BT 474.76 532.25 Td (W) Tj ET Q q 0 0 0 rg BT 483.80 532.25 Td (illis ) Tj ET Q q 0 0 0 rg BT 501.13 532.25 Td (T) Tj ET Q q 0 0 0 rg BT 506.54 532.25 Td (owers ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.35 520.25 Td (W) Tj ET Q q 0 0 0 rg BT 83.99 520.25 Td (atson Sub Holdings Unlimited Company) Tj ET Q q 0 0 0 rg BT 246.12 520.25 Td (, ) Tj ET Q q 0 0 0 rg BT 250.94 520.25 Td (W) Tj ET Q q 0 0 0 rg BT 259.97 520.25 Td (illis Netherlands Holdings B.V) Tj ET Q q 0 0 0 rg BT 382.57 520.25 Td (, ) Tj ET Q q 0 0 0 rg BT 387.39 520.25 Td (W) Tj ET Q q 0 0 0 rg BT 396.42 520.25 Td (illis Investment U.K. Holdings Limited, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.35 508.25 Td (T) Tj ET Q q 0 0 0 rg BT 80.66 508.25 Td (A) Tj ET Q q 0 0 0 rg BT 87.33 508.25 Td ( I Limited and ) Tj ET Q q 0 0 0 rg BT 146.58 508.25 Td (WTW) Tj ET Q q 0 0 0 rg BT 171.38 508.25 Td ( Bermuda Holdings Ltd. are all direct or indirect parents of the issuer and ) Tj ET Q q 0 0 0 rg BT 466.94 508.25 Td (W) Tj ET Q q 0 0 0 rg BT 475.98 508.25 Td (illis Group Limited ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.35 496.25 Td (and ) Tj ET Q q 0 0 0 rg BT 92.11 496.25 Td (W) Tj ET Q q 0 0 0 rg BT 101.15 496.25 Td (illis North ) Tj ET Q q 0 0 0 rg BT 143.93 496.25 Td (America Inc., are direct or indirect wholly owned subsidiaries of the issuer;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.35 475.25 Td (\(iii\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.35 475.25 Td (T) Tj ET Q q 0 0 0 rg BT 81.11 475.25 Td (rinity ) Tj ET Q q 0 0 0 rg BT 104.72 475.25 Td (Acquisition plc, which is the issuer and is a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 280.80 475.25 Td (100 percent) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.73 475.25 Td ( indirectly owned subsidiary of the parent;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.35 454.25 Td (\(iv\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.35 454.25 Td (Other) Tj ET Q q 0 0 0 rg BT 97.72 454.25 Td (, which are the non-guarantor subsidiaries, on a combined basis;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.35 433.25 Td (\(v\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.35 433.25 Td (Consolidating adjustments;and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.35 412.25 Td (\(vi\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.35 412.25 Td (the Consolidated Company) Tj ET Q q 0 0 0 rg BT 183.58 412.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 391.25 Td (The equity method has been used for investments in subsidiaries in the condensed consolidating balance sheets of ) Tj ET Q q 0 0 0 rg BT 507.21 391.25 Td (W) Tj ET Q q 0 0 0 rg BT 516.25 391.25 Td (illis ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 379.25 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 379.25 Td (owers ) Tj ET Q q 0 0 0 rg BT 81.61 379.25 Td (W) Tj ET Q q 0 0 0 rg BT 90.25 379.25 Td (atson, the Other Guarantors and the Issuer) Tj ET Q q 0 0 0 rg BT 258.26 379.25 Td (.) Tj ET Q endstream endobj 327 0 obj <> endobj 328 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.50 31.60 Td (163) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 199.60 742.25 Td (Condensed Consolidated Statement of Operations) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 693.75 204.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 253.50 693.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 693.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.50 693.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 693.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 693.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.50 693.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 693.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 693.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 693.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 693.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 693.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 663.75 204.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 253.50 663.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 663.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.50 663.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 663.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 663.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.50 663.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 663.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 663.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 663.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 663.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 663.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 633.75 204.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 253.50 633.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 633.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.50 633.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 633.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 633.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.50 633.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 633.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 633.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 633.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 633.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 633.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 603.75 204.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 253.50 603.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 603.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.50 603.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 603.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 603.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.50 603.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 603.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 603.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 603.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 603.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 603.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 573.75 204.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 253.50 573.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 573.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.50 573.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 573.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 573.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.50 573.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 573.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 573.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 573.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 573.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 573.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 543.75 204.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 253.50 543.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 543.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.50 543.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 543.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 543.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.50 543.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 543.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 543.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 543.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 543.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 543.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 513.75 204.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 253.50 513.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 513.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.50 513.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 513.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 513.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.50 513.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 513.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 513.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 513.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 513.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 513.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 483.75 204.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 253.50 483.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 483.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.50 483.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 483.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 483.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.50 483.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 483.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 483.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 483.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 483.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 483.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 453.75 204.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 253.50 453.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 453.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.50 453.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 453.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 453.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 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48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 393.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 393.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 393.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 393.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 343.75 204.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 253.50 343.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 343.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.50 343.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 343.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 343.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.50 343.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 343.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 343.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 343.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 343.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 343.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 313.75 204.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 253.50 313.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 313.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.50 313.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 313.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 313.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.50 313.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 313.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 313.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 313.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 313.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 313.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 283.75 204.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 253.50 283.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 283.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.50 283.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 283.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 283.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.50 283.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 283.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 283.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 283.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 283.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 283.75 48.00 -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 253.5 719.75 m 301.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 719.75 m 305.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 719.75 m 353.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 719.75 m 357.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 719.75 m 405.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 405.5 719.75 m 409.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 719.75 m 457.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457.5 719.75 m 461.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 719.75 m 509.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509.5 719.75 m 513.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 719.75 m 561.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 719.75 m 301.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 693.75 m 301.5 693.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 719.75 m 305.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 719.75 m 353.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 693.75 m 353.5 693.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 719.75 m 357.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 719.75 m 405.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 693.75 m 405.5 693.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 405.5 719.75 m 409.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 719.75 m 457.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 693.75 m 457.5 693.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457.5 719.75 m 461.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 719.75 m 509.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 693.75 m 509.5 693.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509.5 719.75 m 513.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 719.75 m 561.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 693.75 m 561.5 693.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 648.75 m 301.5 648.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 648.75 m 353.5 648.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 648.75 m 405.5 648.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 648.75 m 457.5 648.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 648.75 m 509.5 648.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 648.75 m 561.5 648.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 528.75 m 301.5 528.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 528.75 m 353.5 528.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 528.75 m 405.5 528.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 528.75 m 457.5 528.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 528.75 m 509.5 528.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 528.75 m 561.5 528.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 513.75 m 301.5 513.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 513.75 m 353.5 513.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 513.75 m 405.5 513.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 513.75 m 457.5 513.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 513.75 m 509.5 513.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 513.75 m 561.5 513.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 438.75 m 301.5 438.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 438.75 m 353.5 438.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 438.75 m 405.5 438.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 438.75 m 457.5 438.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 438.75 m 509.5 438.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 438.75 m 561.5 438.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 378.75 m 301.5 378.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 378.75 m 353.5 378.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 378.75 m 405.5 378.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 378.75 m 457.5 378.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 378.75 m 509.5 378.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 378.75 m 561.5 378.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 313.75 m 301.5 313.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 313.75 m 353.5 313.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 313.75 m 405.5 313.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 313.75 m 457.5 313.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 313.75 m 509.5 313.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 313.75 m 561.5 313.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 283.75 m 301.5 283.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 283.75 m 353.5 283.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 283.75 m 405.5 283.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 283.75 m 457.5 283.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 283.75 m 509.5 283.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 283.75 m 561.5 283.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 259.75 m 301.5 259.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 257.75 m 301.5 257.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 259.75 m 353.5 259.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 257.75 m 353.5 257.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 259.75 m 405.5 259.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 257.75 m 405.5 257.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 259.75 m 457.5 259.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 257.75 m 457.5 257.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 259.75 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 461.5 257.75 m 509.5 257.75 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 561.5 259.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 257.75 m 561.5 257.75 l s BT /F2 7.00 Tf ET q 0 0 0 rg BT 361.15 723.81 Td (Year ended December 31, 2016) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 268.30 711.81 Td (Willis) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 266.20 704.81 Td (Towers) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 265.70 697.81 Td (Watson) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 313.40 704.81 Td (The Other) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 311.50 697.81 Td (Guarantors) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 375.15 704.81 Td (The) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 371.90 697.81 Td (Issuer) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 424.10 697.81 Td (Other) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 464.15 704.81 Td (Consolidating) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 466.70 697.81 Td (adjustments) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 517.35 697.81 Td (Consolidated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 683.42 Td (Revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 668.42 Td (Commissions and fees) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.00 668.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 668.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.00 668.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 668.42 Td (19) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.00 668.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 668.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.00 668.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 668.42 Td (7,759) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.00 668.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 668.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.00 668.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 668.42 Td (7,778) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 653.42 Td (Interest and other income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 653.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.65 653.42 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 653.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 653.42 Td (107) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 653.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 653.42 Td (109) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 638.42 Td (Total revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 638.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 638.42 Td (21) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 638.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 638.42 Td (7,866) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 638.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 638.42 Td (7,887) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 623.42 Td (Costs of providing services) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 608.42 Td (Salaries and benefits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.65 608.42 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 608.42 Td (16) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 608.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 608.42 Td (4,628) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 608.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 608.42 Td (4,646) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 593.42 Td (Other operating expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.65 593.42 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.65 593.42 Td (200) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 593.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 593.42 Td (1,348) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 593.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 593.42 Td (1,551) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 578.42 Td (Depreciation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 578.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 578.42 Td (19) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 578.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 578.42 Td (159) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 578.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 578.42 Td (178) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 563.42 Td (Amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 563.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 563.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 563.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 563.42 Td (591) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 563.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 563.42 Td (591) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 548.42 Td (Restructuring costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 548.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 548.42 Td (68) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 548.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 548.42 Td (125) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 548.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 548.42 Td (193) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 533.42 Td (Transaction and integration expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.65 533.42 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 533.42 Td (42) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 533.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 533.42 Td (134) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 533.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 533.42 Td (177) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 518.42 Td (Total costs of providing services) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.65 518.42 Td (6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.65 518.42 Td (345) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 518.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 518.42 Td (6,985) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 518.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 518.42 Td (7,336) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 503.42 Td (\(Loss\) Income from operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.30 503.42 Td (\(6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.65 503.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.30 503.47 Td (\(324) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.65 503.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 503.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 503.42 Td (881) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 503.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 503.42 Td (551) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 488.42 Td (Income from Group undertakings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.30 488.42 Td (\(3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.65 488.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.30 488.47 Td (\(657) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.65 488.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.30 488.47 Td (\(132) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.65 488.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.30 488.47 Td (\(136) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 488.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.65 488.42 Td (928) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 488.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 473.42 Td (Expenses due to Group undertakings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.65 473.42 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.65 473.42 Td (228) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 473.42 Td (26) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 473.42 Td (671) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.30 473.47 Td (\(928) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 473.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 473.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 458.42 Td (Interest expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 458.42 Td (32) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 458.42 Td (38) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 458.42 Td (90) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 458.42 Td (24) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 458.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 458.42 Td (184) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 443.42 Td (Other \(income\)/expense, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 443.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.30 443.47 Td (\(2) Tj ET Q BT 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495.65 398.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 398.42 Td (340) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 383.42 Td (\(Benefit from\)/provision for income taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 383.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.30 383.47 Td (\(125) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.65 383.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.65 383.42 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 383.42 Td (26) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 383.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.30 383.47 Td (\(96) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 383.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 368.42 Td (\(LOSS\) INCOME FROM CONTINUING) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 358.42 Td (OPERATIONS BEFORE INTEREST IN) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 348.42 Td (EARNINGS OF ASSOCIATES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.30 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/GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 393.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 393.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 393.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 343.75 204.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 253.50 343.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 343.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.50 343.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 343.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 343.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.50 343.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 343.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 343.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 343.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 343.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 343.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 313.75 204.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 253.50 313.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 313.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.50 313.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 313.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 313.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.50 313.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 313.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 313.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 313.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 313.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 313.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 283.75 204.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 253.50 283.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 283.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.50 283.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 283.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 283.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.50 283.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 283.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 283.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 283.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 283.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 283.75 48.00 -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 253.5 719.75 m 301.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 719.75 m 305.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 719.75 m 353.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 719.75 m 357.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 719.75 m 405.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 405.5 719.75 m 409.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 719.75 m 457.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457.5 719.75 m 461.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 719.75 m 509.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509.5 719.75 m 513.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 719.75 m 561.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 719.75 m 301.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 693.75 m 301.5 693.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 719.75 m 305.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 719.75 m 353.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 693.75 m 353.5 693.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 719.75 m 357.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 719.75 m 405.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 693.75 m 405.5 693.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 405.5 719.75 m 409.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 719.75 m 457.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 693.75 m 457.5 693.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457.5 719.75 m 461.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 719.75 m 509.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 693.75 m 509.5 693.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509.5 719.75 m 513.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 719.75 m 561.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 693.75 m 561.5 693.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 648.75 m 301.5 648.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 648.75 m 353.5 648.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 648.75 m 405.5 648.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 648.75 m 457.5 648.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 648.75 m 509.5 648.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 648.75 m 561.5 648.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 528.75 m 301.5 528.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 528.75 m 353.5 528.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 528.75 m 405.5 528.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 528.75 m 457.5 528.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 528.75 m 509.5 528.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 528.75 m 561.5 528.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 513.75 m 301.5 513.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 513.75 m 353.5 513.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 513.75 m 405.5 513.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 513.75 m 457.5 513.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 513.75 m 509.5 513.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 513.75 m 561.5 513.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 438.75 m 301.5 438.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 438.75 m 353.5 438.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 438.75 m 405.5 438.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 438.75 m 457.5 438.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 438.75 m 509.5 438.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 438.75 m 561.5 438.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 378.75 m 301.5 378.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 378.75 m 353.5 378.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 378.75 m 405.5 378.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 378.75 m 457.5 378.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 378.75 m 509.5 378.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 378.75 m 561.5 378.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 313.75 m 301.5 313.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 313.75 m 353.5 313.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 313.75 m 405.5 313.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 313.75 m 457.5 313.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 313.75 m 509.5 313.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 313.75 m 561.5 313.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 283.75 m 301.5 283.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 283.75 m 353.5 283.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 283.75 m 405.5 283.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 283.75 m 457.5 283.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 283.75 m 509.5 283.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 283.75 m 561.5 283.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 259.75 m 301.5 259.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 257.75 m 301.5 257.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 259.75 m 353.5 259.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 257.75 m 353.5 257.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 259.75 m 405.5 259.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 257.75 m 405.5 257.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 259.75 m 457.5 259.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 257.75 m 457.5 257.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 259.75 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 461.5 257.75 m 509.5 257.75 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 561.5 259.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 257.75 m 561.5 257.75 l s BT /F2 7.00 Tf ET q 0 0 0 rg BT 361.15 723.81 Td (Year ended December 31, 2015) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 268.30 711.81 Td (Willis) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 266.20 704.81 Td (Towers) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 265.70 697.81 Td (Watson) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 313.40 704.81 Td (The Other) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 311.50 697.81 Td (Guarantors) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 375.15 704.81 Td (The) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 371.90 697.81 Td (Issuer) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 424.10 697.81 Td (Other) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 464.15 704.81 Td (Consolidating) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 466.70 697.81 Td (adjustments) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 517.35 697.81 Td (Consolidated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 683.42 Td (Revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 668.42 Td (Commissions and fees) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.00 668.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 668.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.00 668.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 668.42 Td (11) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.00 668.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 668.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.00 668.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 668.42 Td (3,798) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.00 668.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 668.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.00 668.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 668.42 Td (3,809) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 653.42 Td (Interest and other income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 653.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.65 653.42 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 653.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 653.42 Td (19) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 653.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 653.42 Td (20) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 638.42 Td (Total revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 638.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 638.42 Td (12) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 638.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 638.42 Td (3,817) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 638.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 638.42 Td (3,829) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 623.42 Td (Costs of providing services) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 608.42 Td (Salaries and benefits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.65 608.42 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 608.42 Td (77) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 608.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 608.42 Td (2,225) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 608.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 608.42 Td (2,303) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 593.42 Td (Other operating expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.65 593.42 Td (8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.65 593.42 Td (101) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 593.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 593.42 Td (609) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 593.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 593.42 Td (718) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 578.42 Td (Depreciation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 578.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 578.42 Td (22) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 578.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 578.42 Td (73) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 578.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 578.42 Td (95) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 563.42 Td (Amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 563.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 563.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 563.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 563.42 Td (76) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 563.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 563.42 Td (76) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 548.42 Td (Restructuring costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 548.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 548.42 Td (41) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 548.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 548.42 Td (85) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 548.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 548.42 Td (126) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 533.42 Td (Transaction and integration expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.65 533.42 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 533.42 Td (14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 533.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 533.42 Td (66) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 533.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 533.42 Td (84) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 518.42 Td (Total costs of providing services) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 518.42 Td (13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.65 518.42 Td (255) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 518.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 518.42 Td (3,134) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 518.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 518.42 Td (3,402) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 503.42 Td (\(Loss\) Income from operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.30 503.42 Td (\(13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.65 503.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.30 503.47 Td (\(243) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.65 503.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 503.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 503.42 Td (683) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 503.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 503.42 Td (427) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 488.42 Td (Income from Group undertakings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 488.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.30 488.47 Td (\(374) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.65 488.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.30 488.47 Td (\(93) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.65 488.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.30 488.47 Td (\(110) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 488.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.65 488.42 Td (577) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 488.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 473.42 Td (Expenses due to Group undertakings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 473.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.65 473.42 Td (200) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 473.42 Td (26) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 473.42 Td (351) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.30 473.47 Td (\(577) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 473.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 473.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 458.42 Td (Interest expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 458.42 Td (43) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 458.42 Td (41) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 458.42 Td (40) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 458.42 Td (18) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 458.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 458.42 Td (142) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 443.42 Td (Other expense/\(income\), net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 443.42 Td (10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.30 443.47 Td (\(42) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.65 443.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 443.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.30 443.47 Td (\(23) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 443.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 443.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.30 443.47 Td (\(55) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 443.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 428.42 Td (\(LOSS\) INCOME FROM CONTINUING) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 418.42 Td (OPERATIONS BEFORE INCOME TAXES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 408.42 Td (AND INTEREST IN EARNINGS OF) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 398.42 Td (ASSOCIATES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.30 398.42 Td (\(66) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.65 398.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.30 398.47 Td (\(68) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.65 398.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 398.42 Td (27) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 398.42 Td (447) Tj 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48.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 393.75 204.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 253.50 393.75 48.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 393.75 4.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.50 393.75 48.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 393.75 4.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 393.75 48.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.50 393.75 4.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 393.75 48.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 393.75 4.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 393.75 48.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 393.75 4.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 393.75 48.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 343.75 204.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 253.50 343.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 343.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.50 343.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 343.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 343.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.50 343.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 343.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 343.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 343.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 343.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 343.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 313.75 204.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 253.50 313.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 313.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.50 313.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 313.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 313.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.50 313.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 313.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 313.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 313.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 313.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 313.75 48.00 -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 253.5 719.75 m 301.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 719.75 m 305.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 719.75 m 353.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 719.75 m 357.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 719.75 m 405.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 405.5 719.75 m 409.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 719.75 m 457.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457.5 719.75 m 461.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 719.75 m 509.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509.5 719.75 m 513.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 719.75 m 561.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 719.75 m 301.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 693.75 m 301.5 693.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 719.75 m 305.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 719.75 m 353.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 693.75 m 353.5 693.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 719.75 m 357.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 719.75 m 405.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 693.75 m 405.5 693.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 405.5 719.75 m 409.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 719.75 m 457.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 693.75 m 457.5 693.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457.5 719.75 m 461.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 719.75 m 509.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 693.75 m 509.5 693.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509.5 719.75 m 513.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 719.75 m 561.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 693.75 m 561.5 693.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 648.75 m 301.5 648.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 648.75 m 353.5 648.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 648.75 m 405.5 648.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 648.75 m 457.5 648.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 648.75 m 509.5 648.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 648.75 m 561.5 648.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 543.75 m 301.5 543.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 543.75 m 353.5 543.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 543.75 m 405.5 543.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 543.75 m 457.5 543.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 543.75 m 509.5 543.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 543.75 m 561.5 543.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 528.75 m 301.5 528.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 528.75 m 353.5 528.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 528.75 m 405.5 528.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 528.75 m 457.5 528.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 528.75 m 509.5 528.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 528.75 m 561.5 528.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 453.75 m 301.5 453.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 453.75 m 353.5 453.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 453.75 m 405.5 453.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 453.75 m 457.5 453.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 453.75 m 509.5 453.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 453.75 m 561.5 453.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 393.75 m 301.5 393.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 393.75 m 353.5 393.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 393.75 m 405.5 393.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 393.75 m 457.5 393.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 393.75 m 509.5 393.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 393.75 m 561.5 393.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 328.75 m 301.5 328.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 328.75 m 353.5 328.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 328.75 m 405.5 328.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 328.75 m 457.5 328.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 328.75 m 509.5 328.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 328.75 m 561.5 328.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 298.75 m 301.5 298.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 298.75 m 353.5 298.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 298.75 m 405.5 298.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 298.75 m 457.5 298.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 298.75 m 509.5 298.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 298.75 m 561.5 298.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 274.75 m 301.5 274.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 272.75 m 301.5 272.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 274.75 m 353.5 274.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 272.75 m 353.5 272.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 274.75 m 405.5 274.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 272.75 m 405.5 272.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 274.75 m 457.5 274.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 272.75 m 457.5 272.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 274.75 m 509.5 274.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 272.75 m 509.5 272.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 274.75 m 561.5 274.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 272.75 m 561.5 272.75 l s BT /F2 7.00 Tf ET q 0 0 0 rg BT 361.15 723.81 Td (Year ended December 31, 2014) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 268.30 711.81 Td (W) Tj ET Q q 0 0 0 rg BT 275.17 711.81 Td (illis) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 266.20 704.81 Td (T) Tj ET Q q 0 0 0 rg BT 270.23 704.81 Td (owers) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 265.70 697.81 Td (W) Tj ET Q q 0 0 0 rg BT 272.31 697.81 Td (atson) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 313.40 704.81 Td (The Other) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 311.50 697.81 Td (Guarantors) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 375.15 704.81 Td (The) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 371.90 697.81 Td (Issuer) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 424.10 697.81 Td (Other) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 464.15 704.81 Td (Consolidating) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 466.70 697.81 Td (adjustments) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 517.35 697.81 Td (Consolidated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 683.42 Td (Revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 668.42 Td (Commissions and fees) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.00 668.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 668.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.00 668.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.65 668.42 Td (8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.00 668.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 668.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.00 668.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 668.42 Td (3,759) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.00 668.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 668.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.00 668.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 668.42 Td (3,767) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 653.42 Td (Interest and other income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 653.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 653.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 653.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 653.42 Td (35) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 653.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 653.42 Td (35) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 638.42 Td (Total revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 638.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.65 638.42 Td (8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 638.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 638.42 Td (3,794) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 638.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 638.42 Td (3,802) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 623.42 Td (Costs of providing services) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 608.42 Td (Salaries and benefits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.65 608.42 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 608.42 Td (81) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 608.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 608.42 Td (2,232) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 608.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 608.42 Td (2,314) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 593.42 Td (Other operating expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 593.42 Td (16) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.65 593.42 Td (133) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 593.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 593.42 Td (510) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 593.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 593.42 Td (659) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 578.42 Td (Depreciation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 578.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 578.42 Td (21) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 578.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 578.42 Td (71) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 578.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 578.42 Td (92) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 563.42 Td (Amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 563.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 563.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 563.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 563.42 Td (54) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 563.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 563.42 Td (54) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 548.42 Td (Restructuring costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 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/GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 257.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 257.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 257.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 217.75 204.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 253.50 217.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 217.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.50 217.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 217.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 217.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.50 217.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 217.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 217.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 217.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 217.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 217.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 177.75 204.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 253.50 177.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 177.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.50 177.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 177.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 177.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.50 177.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 177.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 177.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 177.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 177.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 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301.5 719.75 m 305.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 719.75 m 353.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 719.75 m 357.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 719.75 m 405.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 405.5 719.75 m 409.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 719.75 m 457.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457.5 719.75 m 461.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 719.75 m 509.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509.5 719.75 m 513.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 719.75 m 561.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 719.75 m 301.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 693.75 m 301.5 693.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 719.75 m 305.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 719.75 m 353.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 693.75 m 353.5 693.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 719.75 m 357.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 719.75 m 405.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 693.75 m 405.5 693.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 405.5 719.75 m 409.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 719.75 m 457.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 693.75 m 457.5 693.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457.5 719.75 m 461.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 719.75 m 509.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 693.75 m 509.5 693.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509.5 719.75 m 513.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 719.75 m 561.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 693.75 m 561.5 693.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 693.75 m 301.5 693.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 693.75 m 353.5 693.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 693.75 m 405.5 693.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 693.75 m 457.5 693.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 693.75 m 509.5 693.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 693.75 m 561.5 693.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 603.75 m 301.5 603.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 603.75 m 353.5 603.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 603.75 m 405.5 603.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 603.75 m 457.5 603.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 603.75 m 509.5 603.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 603.75 m 561.5 603.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 473.75 m 301.5 473.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 473.75 m 353.5 473.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 473.75 m 405.5 473.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 473.75 m 457.5 473.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 473.75 m 509.5 473.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 473.75 m 561.5 473.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 458.75 m 301.5 458.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 458.75 m 353.5 458.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 458.75 m 405.5 458.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 458.75 m 457.5 458.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 458.75 m 509.5 458.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 458.75 m 561.5 458.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 444.75 m 301.5 444.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 442.75 m 301.5 442.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 444.75 m 353.5 444.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 442.75 m 353.5 442.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 444.75 m 405.5 444.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 442.75 m 405.5 442.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 444.75 m 457.5 444.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 442.75 m 457.5 442.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 444.75 m 509.5 444.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 442.75 m 509.5 442.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 444.75 m 561.5 444.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 442.75 m 561.5 442.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 347.75 m 301.5 347.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 347.75 m 353.5 347.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 347.75 m 405.5 347.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 347.75 m 457.5 347.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 347.75 m 509.5 347.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 347.75 m 561.5 347.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 232.75 m 301.5 232.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 232.75 m 353.5 232.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 232.75 m 405.5 232.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 232.75 m 457.5 232.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 232.75 m 509.5 232.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 232.75 m 561.5 232.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 232.75 m 301.5 232.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 217.75 m 301.5 217.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 232.75 m 353.5 232.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 217.75 m 353.5 217.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 232.75 m 405.5 232.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 217.75 m 405.5 217.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 232.75 m 457.5 232.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 217.75 m 457.5 217.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 232.75 m 509.5 232.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 217.75 m 509.5 217.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 232.75 m 561.5 232.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 217.75 m 561.5 217.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 202.75 m 301.5 202.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 202.75 m 353.5 202.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 202.75 m 405.5 202.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 202.75 m 457.5 202.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 202.75 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 561.5 202.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 122.75 m 301.5 122.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 122.75 m 353.5 122.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 122.75 m 405.5 122.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 122.75 m 457.5 122.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 122.75 m 509.5 122.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 122.75 m 561.5 122.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 107.75 m 301.5 107.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 107.75 m 353.5 107.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 107.75 m 405.5 107.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 107.75 m 457.5 107.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 107.75 m 509.5 107.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 107.75 m 561.5 107.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 93.75 m 301.5 93.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 91.75 m 301.5 91.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 93.75 m 353.5 93.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 91.75 m 353.5 91.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 93.75 m 405.5 93.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 91.75 m 405.5 91.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 93.75 m 457.5 93.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 91.75 m 457.5 91.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 93.75 m 509.5 93.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 91.75 m 509.5 91.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 93.75 m 561.5 93.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 91.75 m 561.5 91.75 l s BT /F2 7.00 Tf ET q 0 0 0 rg BT 370.20 723.81 Td (As of December 31, 2016) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 268.30 711.81 Td (W) Tj ET Q q 0 0 0 rg BT 275.17 711.81 Td (illis) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 266.20 704.81 Td (T) Tj ET Q q 0 0 0 rg BT 270.23 704.81 Td (owers) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 265.70 697.81 Td (W) Tj ET Q q 0 0 0 rg BT 272.31 697.81 Td (atson) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 313.40 704.81 Td (The Other) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 311.50 697.81 Td (Guarantors) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 375.15 704.81 Td (The) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 371.90 697.81 Td (Issuer) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 424.10 697.81 Td (Other) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 464.15 704.81 Td (Consolidating) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 466.70 697.81 Td (adjustments) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 517.35 697.81 Td (Consolidated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 683.42 Td (ASSETS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 668.42 Td (Cash and cash equivalents) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.00 668.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 668.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.00 668.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 668.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.00 668.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 668.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.00 668.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 668.42 Td (870) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.00 668.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 668.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.00 668.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 668.42 Td (870) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 653.42 Td (Fiduciary assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 653.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 653.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 653.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.10 653.42 Td (10,505) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 653.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.10 653.42 Td (10,505) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 638.42 Td (Accounts receivable, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 638.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.65 638.42 Td (7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 638.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 638.42 Td (2,073) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 638.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 638.42 Td (2,080) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 623.42 Td (Prepaid and other current assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 623.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 623.42 Td (74) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.65 623.42 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 623.42 Td (324) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.30 623.47 Td (\(62) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 623.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 623.42 Td (337) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 608.42 Td (Amounts due from group undertakings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.15 608.42 Td (7,229) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.65 608.42 Td (849) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.15 608.42 Td (1,595) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 608.42 Td (2,370) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.80 608.47 Td (\(12,043) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 608.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 608.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 593.42 Td (Total current assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.15 593.42 Td (7,229) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.65 593.42 Td (930) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.15 593.42 Td (1,596) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.10 593.42 Td (16,142) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.80 593.47 Td (\(12,105) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 593.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.10 593.42 Td (13,792) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 578.42 Td (Investments in subsidiaries) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.15 578.42 Td (3,409) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.15 578.42 Td (8,621) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.15 578.42 Td (7,309) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 578.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.80 578.47 Td (\(19,339) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 578.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 578.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 563.42 Td (Fixed assets, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 563.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 563.42 Td (34) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 563.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 563.42 Td (805) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 563.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 563.42 Td (839) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 548.42 Td (Goodwill) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 548.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 548.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 548.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.10 548.42 Td (10,413) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 548.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.10 548.42 Td (10,413) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 533.42 Td (Other intangible assets, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 533.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 533.42 Td (64) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 533.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 533.42 Td (4,368) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.30 533.47 Td (\(64) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 533.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 533.42 Td (4,368) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 518.42 Td (Pension benefits assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 518.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 518.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 518.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 518.42 Td (488) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 518.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 518.42 Td (488) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 503.42 Td (Other non-current assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 503.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 503.42 Td (90) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 503.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 503.42 Td (310) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.30 503.47 Td (\(47) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 503.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 503.42 Td (353) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 488.42 Td (Non-current amounts due from group ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 478.42 Td (undertakings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 478.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.15 478.42 Td (4,859) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.15 478.42 Td (1,055) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 478.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.80 478.47 Td (\(5,914) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 478.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 478.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 463.42 Td (Total non-current assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.15 463.42 Td (3,409) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.10 463.42 Td (13,668) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.15 463.42 Td (8,364) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.10 463.42 Td (16,384) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.80 463.47 Td (\(25,364) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 463.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.10 463.42 Td (16,461) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 448.42 Td (TOTAL ASSETS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.00 448.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.10 448.42 Td (10,638) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.00 448.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.10 448.42 Td (14,598) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.00 448.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.15 448.42 Td (9,960) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.00 448.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.10 448.42 Td (32,526) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.00 448.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.80 448.47 Td (\(37,469) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 448.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.00 448.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.10 448.42 Td (30,253) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 433.42 Td (LIABILITIES AND EQUITY) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 418.42 Td (Fiduciary liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.00 418.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 418.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.00 418.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 418.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.00 418.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 418.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.00 418.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.10 418.42 Td (10,505) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.00 418.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 418.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.00 418.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.10 418.42 Td (10,505) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 403.42 Td (Deferred revenue and accrued expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 403.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 403.42 Td (41) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.65 403.42 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 403.42 Td (1,488) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.30 403.47 Td (\(49) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 403.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 403.42 Td (1,481) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 389.32 Td (Short-term debt and current portion of long-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 379.37 Td (term debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 382.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.65 382.42 Td (394) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 382.42 Td (22) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 382.42 Td (92) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 382.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 382.42 Td (508) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 367.42 Td (Other current liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 367.42 Td (77) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 367.42 Td (87) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 367.42 Td (33) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 367.42 Td (684) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.30 367.47 Td (\(5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 367.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 367.42 Td (876) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 352.42 Td (Amounts due to group undertakings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 352.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.15 352.42 Td (9,946) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 352.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 352.42 Td (2,097) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.80 352.47 Td (\(12,043) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 352.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 352.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 337.42 Td (Total current liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 337.42 Td (77) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.10 337.42 Td (10,468) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 337.42 Td (56) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.10 337.42 Td (14,866) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.80 337.47 Td (\(12,097) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 337.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.10 337.42 Td (13,370) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 322.42 Td (Long-term debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.65 322.42 Td (496) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.65 322.42 Td (186) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.15 322.42 Td (2,506) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 322.42 Td (169) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 322.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 322.42 Td (3,357) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 307.42 Td (Liability for pension benefits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 307.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 307.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 307.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 307.42 Td (1,321) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 307.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 307.42 Td (1,321) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 292.42 Td (Deferred tax liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 292.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 292.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 292.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 292.42 Td (1,013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.30 292.47 Td (\(149) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 292.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 292.42 Td (864) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 277.42 Td (Provision for liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 277.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.65 277.42 Td (120) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 277.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 277.42 Td (455) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 277.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 277.42 Td (575) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 262.42 Td (Other non-current liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 262.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 262.42 Td (63) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 262.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 262.42 Td (483) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.30 262.47 Td (\(14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 262.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 262.42 Td (532) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 247.42 Td (Non-current amounts due to group ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 237.42 Td (undertakings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 237.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.65 237.42 Td (518) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.65 237.42 Td (423) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 237.42 Td (4,973) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.80 237.47 Td (\(5,914) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 237.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 237.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 222.42 Td (Total non-current liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.65 222.42 Td (496) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.65 222.42 Td (887) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.15 222.42 Td (2,929) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 222.42 Td (8,414) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.80 222.47 Td (\(6,077) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 222.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 222.42 Td (6,649) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 207.42 Td (TOTAL LIABILITIES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.65 207.42 Td (573) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.10 207.42 Td (11,355) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.15 207.42 Td (2,985) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.10 207.42 Td (23,280) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.80 207.47 Td (\(18,174) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 207.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.10 207.42 Td (20,019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 192.42 Td (REDEEMABLE NONCONTROLLING) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 182.42 Td (INTEREST) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 182.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 182.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 182.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 182.42 Td (51) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 182.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 182.42 Td (51) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 167.42 Td (EQUITY) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 152.42 Td (Total Willis Towers Watson shareholders) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 142.42 Td (equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.10 142.42 Td (10,065) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.15 142.42 Td (3,243) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.15 142.42 Td (6,975) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 142.42 Td (9,077) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.80 142.47 Td (\(19,295) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 142.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.10 142.42 Td (10,065) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 127.42 Td (Noncontrolling interests) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 127.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 127.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 127.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 127.42 Td (118) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 127.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 127.42 Td (118) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 112.42 Td (Total equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.10 112.42 Td (10,065) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.15 112.42 Td (3,243) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.15 112.42 Td (6,975) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 112.42 Td (9,195) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.80 112.47 Td (\(19,295) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 112.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.10 112.42 Td (10,183) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 97.42 Td (TOTAL LIABILITIES AND EQUITY) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.00 97.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.10 97.42 Td (10,638) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.00 97.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.10 97.42 Td (14,598) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.00 97.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.15 97.42 Td (9,960) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.00 97.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.10 97.42 Td (32,526) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.00 97.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.80 97.47 Td (\(37,469) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 97.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.00 97.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.10 97.42 Td (30,253) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 341 0 obj <> endobj 342 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.50 31.60 Td (170) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 221.95 742.25 Td (Condensed Consolidated Balance Sheet) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 693.75 204.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 253.50 693.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 693.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.50 693.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 693.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 693.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.50 693.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 693.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 693.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 693.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 693.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 693.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 663.75 204.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 253.50 663.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 663.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.50 663.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 663.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 663.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.50 663.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 663.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 663.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 663.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 663.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 663.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 633.75 204.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 253.50 633.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 633.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.50 633.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 633.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 633.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.50 633.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 633.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 633.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 633.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 633.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 633.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 603.75 204.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 253.50 603.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 603.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.50 603.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 603.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 603.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.50 603.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 603.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 603.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 603.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 603.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 603.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 573.75 204.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 253.50 573.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 573.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.50 573.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 573.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 573.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.50 573.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 573.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 573.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 573.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 573.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 573.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 543.75 204.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 253.50 543.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 543.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.50 543.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 543.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 543.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.50 543.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 543.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 543.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 543.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 543.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 543.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 513.75 204.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 253.50 513.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 513.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.50 513.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 513.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 513.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.50 513.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 513.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 513.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 513.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 513.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 513.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 473.75 204.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 253.50 473.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 473.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.50 473.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 473.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 473.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.50 473.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 473.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 473.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 473.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 473.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 473.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 443.75 204.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 253.50 443.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 443.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.50 443.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 443.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 443.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.50 443.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 443.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 443.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 443.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 443.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 443.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 413.75 204.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 253.50 413.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 413.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.50 413.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 413.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 413.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.50 413.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 413.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 413.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 413.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 413.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 413.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 373.75 204.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 253.50 373.75 48.00 -15.00 re f /GS0 gs 0.8 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509.50 143.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 143.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 103.75 204.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 253.50 103.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 103.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.50 103.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 103.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 103.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.50 103.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 103.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 103.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 103.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 103.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 103.75 48.00 -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 253.5 719.75 m 301.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 719.75 m 305.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 719.75 m 353.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 719.75 m 357.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 719.75 m 405.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 405.5 719.75 m 409.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 719.75 m 457.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457.5 719.75 m 461.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 719.75 m 509.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509.5 719.75 m 513.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 719.75 m 561.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 693.75 m 301.5 693.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 693.75 m 353.5 693.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 693.75 m 405.5 693.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 693.75 m 457.5 693.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 693.75 m 509.5 693.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 719.75 m 561.5 719.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 693.75 m 561.5 693.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 693.75 m 301.5 693.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 693.75 m 353.5 693.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 693.75 m 405.5 693.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 693.75 m 457.5 693.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 693.75 m 509.5 693.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 693.75 m 561.5 693.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 603.75 m 301.5 603.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 603.75 m 353.5 603.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 603.75 m 405.5 603.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 603.75 m 457.5 603.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 603.75 m 509.5 603.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 603.75 m 561.5 603.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 473.75 m 301.5 473.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 473.75 m 353.5 473.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 473.75 m 405.5 473.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 473.75 m 457.5 473.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 473.75 m 509.5 473.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 473.75 m 561.5 473.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 458.75 m 301.5 458.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 458.75 m 353.5 458.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 458.75 m 405.5 458.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 458.75 m 457.5 458.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 458.75 m 509.5 458.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 458.75 m 561.5 458.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 444.75 m 301.5 444.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 442.75 m 301.5 442.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 444.75 m 353.5 444.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 442.75 m 353.5 442.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 444.75 m 405.5 444.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 442.75 m 405.5 442.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 444.75 m 457.5 444.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 442.75 m 457.5 442.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 444.75 m 509.5 444.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 442.75 m 509.5 442.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 444.75 m 561.5 444.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 442.75 m 561.5 442.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 343.75 m 301.5 343.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 343.75 m 353.5 343.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 343.75 m 405.5 343.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 343.75 m 457.5 343.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 343.75 m 509.5 343.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 343.75 m 561.5 343.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 213.75 m 301.5 213.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 213.75 m 353.5 213.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 213.75 m 405.5 213.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 213.75 m 457.5 213.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 213.75 m 509.5 213.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 213.75 m 561.5 213.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 213.75 m 301.5 213.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 198.75 m 301.5 198.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 213.75 m 353.5 213.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 198.75 m 353.5 198.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 213.75 m 405.5 213.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 198.75 m 405.5 198.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 213.75 m 457.5 213.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 198.75 m 457.5 198.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 213.75 m 509.5 213.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 198.75 m 509.5 198.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 213.75 m 561.5 213.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 198.75 m 561.5 198.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 183.75 m 301.5 183.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 183.75 m 353.5 183.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 183.75 m 405.5 183.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 183.75 m 457.5 183.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 183.75 m 509.5 183.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 183.75 m 561.5 183.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 103.75 m 301.5 103.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 103.75 m 353.5 103.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 103.75 m 405.5 103.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 103.75 m 457.5 103.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 103.75 m 509.5 103.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 103.75 m 561.5 103.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 88.75 m 301.5 88.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 88.75 m 353.5 88.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 88.75 m 405.5 88.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 88.75 m 457.5 88.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 88.75 m 509.5 88.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 88.75 m 561.5 88.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 74.75 m 301.5 74.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 72.75 m 301.5 72.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 74.75 m 353.5 74.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 72.75 m 353.5 72.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 74.75 m 405.5 74.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 72.75 m 405.5 72.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 74.75 m 457.5 74.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 72.75 m 457.5 72.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 74.75 m 509.5 74.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 72.75 m 509.5 72.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 74.75 m 561.5 74.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 72.75 m 561.5 72.75 l s BT /F2 7.00 Tf ET q 0 0 0 rg BT 370.20 723.81 Td (As of December 31, 2015) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 268.30 711.81 Td (W) Tj ET Q q 0 0 0 rg BT 275.17 711.81 Td (illis) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 266.20 704.81 Td (T) Tj ET Q q 0 0 0 rg BT 270.23 704.81 Td (owers) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 265.70 697.81 Td (W) Tj ET Q q 0 0 0 rg BT 272.31 697.81 Td (atson) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 313.40 704.81 Td (The Other) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 311.50 697.81 Td (Guarantors) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 375.15 704.81 Td (The) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 371.90 697.81 Td (Issuer) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 424.10 697.81 Td (Other) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 464.15 704.81 Td (Consolidating) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 466.70 697.81 Td (adjustments) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 517.35 697.81 Td (Consolidated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 683.42 Td (ASSETS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 668.42 Td (Cash and cash equivalents) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.00 668.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.65 668.42 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.00 668.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.65 668.42 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.00 668.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 668.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.00 668.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 668.42 Td (527) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.00 668.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 668.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.00 668.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 668.42 Td (532) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 653.42 Td (Fiduciary assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 653.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 653.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 653.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.10 653.42 Td (10,458) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 653.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.10 653.42 Td (10,458) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 638.42 Td (Accounts receivable, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 638.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.65 638.42 Td (7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 638.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 638.42 Td (1,251) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 638.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 638.42 Td (1,258) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 623.42 Td (Prepaid and other current assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.65 623.42 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 623.42 Td (72) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 623.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 623.42 Td (194) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.30 623.47 Td (\(12) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 623.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 623.42 Td (255) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 608.42 Td (Amounts due from group undertakings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.15 608.42 Td (3,423) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.65 608.42 Td (951) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.15 608.42 Td (1,538) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 608.42 Td (1,259) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.80 608.47 Td (\(7,171) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 608.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 608.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 593.42 Td (Total current assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.15 593.42 Td (3,427) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.15 593.42 Td (1,032) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.15 593.42 Td (1,538) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.10 593.42 Td (13,689) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.80 593.47 Td (\(7,183) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 593.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.10 593.42 Td (12,503) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 578.42 Td (Investments in subsidiaries) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 578.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.15 578.42 Td (4,069) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.15 578.42 Td (3,092) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 578.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.80 578.47 Td (\(7,161) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 578.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 578.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 563.42 Td (Fixed assets, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 563.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 563.42 Td (58) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 563.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 563.42 Td (505) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 563.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 563.42 Td (563) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 548.42 Td (Goodwill) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 548.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 548.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 548.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 548.42 Td (3,737) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 548.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 548.42 Td (3,737) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 533.42 Td (Other intangible assets, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 533.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 533.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 533.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 533.42 Td (1,115) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 533.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 533.42 Td (1,115) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 518.42 Td (Pension benefits assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 518.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 518.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 518.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 518.42 Td (623) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 518.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 518.42 Td (623) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 503.42 Td (Other non-current assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 503.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.65 503.42 Td (9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.65 503.42 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 503.42 Td (288) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 503.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 503.42 Td (298) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 488.42 Td (Non-current amounts due from group) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 478.42 Td (undertakings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 478.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.65 478.42 Td (785) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.65 478.42 Td (518) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 478.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.80 478.47 Td (\(1,303) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 478.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 478.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 463.42 Td (Total non-current assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 463.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.15 463.42 Td (4,921) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.15 463.42 Td (3,611) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 463.42 Td (6,268) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.80 463.47 Td (\(8,464) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 463.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 463.42 Td (6,336) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 448.42 Td (TOTAL ASSETS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.00 448.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.15 448.42 Td (3,427) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.00 448.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.15 448.42 Td (5,953) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.00 448.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.15 448.42 Td (5,149) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.00 448.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.10 448.42 Td (19,957) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.00 448.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.80 448.47 Td (\(15,647) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 448.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.00 448.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.10 448.42 Td (18,839) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 433.42 Td (LIABILITIES AND EQUITY) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 418.42 Td (Fiduciary liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.00 418.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 418.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.00 418.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 418.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.00 418.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 418.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.00 418.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.10 418.42 Td (10,458) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.00 418.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 418.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.00 418.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.10 418.42 Td (10,458) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 403.42 Td (Deferred revenue and accrued expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.65 403.42 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 403.42 Td (68) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 403.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 403.42 Td (683) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 403.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 403.42 Td (752) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 388.42 Td (Short-term debt and current portion of long-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 378.42 Td (term debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.65 378.42 Td (300) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 378.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.65 378.42 Td (609) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 378.42 Td (79) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 378.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 378.42 Td (988) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 363.42 Td (Other current liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 363.42 Td (15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 363.42 Td (50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 363.42 Td (16) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 363.42 Td (534) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.30 363.47 Td (\(12) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 363.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 363.42 Td (603) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 348.42 Td (Amounts due to group undertakings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 348.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.15 348.42 Td (5,234) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.65 348.42 Td (435) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 348.42 Td (1,502) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.80 348.47 Td (\(7,171) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 348.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 348.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 333.42 Td (Total current liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.65 333.42 Td (316) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.15 333.42 Td (5,352) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.15 333.42 Td (1,060) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.10 333.42 Td (13,256) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.80 333.47 Td (\(7,183) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 333.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.10 333.42 Td (12,801) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 318.42 Td (Investment in subsidiaries) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.65 318.42 Td (387) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 318.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 318.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 318.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.30 318.47 Td (\(387) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 318.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 318.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 303.42 Td (Long-term debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.65 303.42 Td (495) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.65 303.42 Td (580) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.15 303.42 Td (1,203) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 303.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 303.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 303.42 Td (2,278) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 288.42 Td (Liability for pension benefits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 288.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 288.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 288.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 288.42 Td (279) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 288.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 288.42 Td (279) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 273.42 Td (Deferred tax liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 273.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.65 273.42 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 273.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 273.42 Td (239) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 273.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 273.42 Td (240) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 258.42 Td (Provision for liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 258.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 258.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 258.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 258.42 Td (295) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 258.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 258.42 Td (295) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 243.42 Td (Other non-current liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 243.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 243.42 Td (36) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 243.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 243.42 Td (497) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 243.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 243.42 Td (533) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 228.42 Td (Non-current amounts due to group) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 218.42 Td (undertakings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 218.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.65 218.42 Td (518) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 218.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 218.42 Td (785) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.80 218.47 Td (\(1,303) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 218.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 218.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 203.42 Td (Total non-current liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.65 203.42 Td (882) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.15 203.42 Td (1,135) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.15 203.42 Td (1,203) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 203.42 Td (2,095) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.80 203.47 Td (\(1,690) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 203.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 203.42 Td (3,625) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 188.42 Td (TOTAL LIABILITIES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.15 188.42 Td (1,198) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.15 188.42 Td (6,487) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.15 188.42 Td (2,263) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.10 188.42 Td (15,351) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.80 188.47 Td (\(8,873) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 188.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.10 188.42 Td (16,426) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 173.42 Td (REDEEMABLE NONCONTROLLING) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 163.42 Td (INTEREST) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 163.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 163.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 163.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 163.42 Td (53) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 163.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 163.42 Td (53) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 148.42 Td (EQUITY) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 133.42 Td (Total Willis Towers Watson shareholders) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 123.42 Td (equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.15 123.42 Td (2,229) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.30 123.47 Td (\(534) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.65 123.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.15 123.42 Td (2,886) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 123.42 Td (4,422) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.80 123.47 Td (\(6,774) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 123.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 123.42 Td (2,229) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 108.42 Td (Noncontrolling interests) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 108.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 108.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 108.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 108.42 Td (131) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 108.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 108.42 Td (131) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 93.42 Td (Total equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.15 93.42 Td (2,229) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.30 93.47 Td (\(534) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.65 93.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.15 93.42 Td (2,886) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 93.42 Td (4,553) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.80 93.47 Td (\(6,774) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 93.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 93.42 Td (2,360) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 78.42 Td (TOTAL LIABILITIES AND EQUITY) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.00 78.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.15 78.42 Td (3,427) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.00 78.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.15 78.42 Td (5,953) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.00 78.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.15 78.42 Td (5,149) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.00 78.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.10 78.42 Td (19,957) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.00 78.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.80 78.47 Td (\(15,647) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 78.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.00 78.42 Td ($) 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gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 691.75 m 405.5 691.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 691.75 m 457.5 691.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 691.75 m 509.5 691.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 716.75 m 561.5 716.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 691.75 m 561.5 691.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 691.75 m 301.5 691.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 667.75 m 301.5 667.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 691.75 m 353.5 691.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 667.75 m 353.5 667.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 691.75 m 405.5 691.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 667.75 m 405.5 667.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 691.75 m 457.5 691.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 667.75 m 457.5 667.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 691.75 m 509.5 691.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 667.75 m 509.5 667.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 691.75 m 561.5 691.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 667.75 m 561.5 667.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 462.75 m 301.5 462.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 462.75 m 353.5 462.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 462.75 m 405.5 462.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 462.75 m 457.5 462.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 462.75 m 509.5 462.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 462.75 m 561.5 462.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 462.75 m 301.5 462.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 437.75 m 301.5 437.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 462.75 m 353.5 462.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 437.75 m 353.5 437.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 462.75 m 405.5 462.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 437.75 m 405.5 437.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 462.75 m 457.5 462.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 437.75 m 457.5 437.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 462.75 m 509.5 462.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 437.75 m 509.5 437.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 462.75 m 561.5 462.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 437.75 m 561.5 437.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 177.75 m 301.5 177.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 177.75 m 353.5 177.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 177.75 m 405.5 177.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 177.75 m 457.5 177.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 177.75 m 509.5 177.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 177.75 m 561.5 177.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 177.75 m 301.5 177.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 153.75 m 301.5 153.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 177.75 m 353.5 177.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 153.75 m 353.5 153.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 177.75 m 405.5 177.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 153.75 m 405.5 153.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 177.75 m 457.5 177.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 153.75 m 457.5 153.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 177.75 m 509.5 177.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 153.75 m 509.5 153.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 177.75 m 561.5 177.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 153.75 m 561.5 153.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 81.75 m 301.5 81.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 81.75 m 353.5 81.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 81.75 m 405.5 81.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 81.75 m 457.5 81.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 81.75 m 509.5 81.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 81.75 m 561.5 81.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 58.75 m 301.5 58.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 56.75 m 301.5 56.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 58.75 m 353.5 58.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 56.75 m 353.5 56.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 58.75 m 405.5 58.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 56.75 m 405.5 56.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 58.75 m 457.5 58.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 56.75 m 457.5 56.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 58.75 m 509.5 58.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 56.75 m 509.5 56.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 58.75 m 561.5 58.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 56.75 m 561.5 56.75 l s BT /F2 7.00 Tf ET q 0 0 0 rg BT 361.15 720.81 Td (Year ended December 31, 2016) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 268.30 709.51 Td (W) Tj ET Q q 0 0 0 rg BT 275.17 709.51 Td (illis) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 266.20 702.51 Td (T) Tj ET Q q 0 0 0 rg BT 270.23 702.51 Td (owers) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 265.70 695.51 Td (W) Tj ET Q q 0 0 0 rg BT 272.31 695.51 Td (atson) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 313.40 702.81 Td (The Other) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 311.50 695.81 Td (Guarantors) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 375.15 702.81 Td (The) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 371.90 695.81 Td (Issuer) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 424.10 695.81 Td (Other) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 464.15 702.81 Td (Consolidating) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 466.70 695.81 Td (adjustments) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 517.35 695.81 Td (Consolidated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 682.32 Td (NET CASH \(USED IN\)/FROM OPERATING) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 672.32 Td (ACTIVITIES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.00 672.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.30 672.42 Td (\(20) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.65 672.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.00 672.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.65 672.42 Td (308) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.00 672.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.65 672.42 Td (152) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.00 672.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 672.42 Td (1,101) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.00 672.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.30 672.47 Td (\(621) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 672.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.00 672.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 672.42 Td (920) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 658.32 Td (CASH FLOWS FROM/\(USED IN\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 648.32 Td (INVESTING ACTIVITIES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 634.32 Td (Additions to fixed assets and software for) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.00 624.32 Td (internal use) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 624.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.30 624.47 Td (\(91) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.65 624.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 624.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.30 624.47 Td (\(221) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 624.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 624.42 Td (94) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.30 624.47 Td (\(218) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 624.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 609.42 Td (Capitalized software costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 609.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 609.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 609.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.30 609.47 Td (\(85) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 609.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 609.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.30 609.47 Td (\(85) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 609.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 594.42 Td (Acquisitions of operations, net of cash) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.00 584.42 Td (acquired) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 584.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 584.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 584.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 584.42 Td (476) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 584.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 584.42 Td (476) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 570.32 Td (Net \(cash paid\)/proceeds from sale of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.00 560.32 Td (operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 560.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 560.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 560.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.30 560.47 Td (\(4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 560.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.65 560.42 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.30 560.47 Td (\(1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 560.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 545.42 Td (Other, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 545.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 545.42 Td (33) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 545.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 545.42 Td (20) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.30 545.47 Td (\(30) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 545.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 545.42 Td (23) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 531.32 Td (Proceeds from intercompany investing) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.00 521.32 Td (activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 521.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.65 521.42 Td (108) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 521.42 Td (55) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 521.42 Td (30) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.30 521.47 Td (\(193) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 521.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 521.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 507.32 Td (Repayments of intercompany investing) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.00 497.32 Td (activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 271.80 497.42 Td (\(3,751) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.65 497.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.80 497.47 Td (\(3,513) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.65 497.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.30 497.47 Td (\(602) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.65 497.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.30 497.47 Td (\(769) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 497.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.15 497.42 Td (8,635) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 497.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 482.42 Td (Reduction in investment in subsidiaries) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.15 482.42 Td (4,600) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.15 482.42 Td (3,600) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 482.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 482.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.80 482.47 Td (\(8,200) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 482.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 482.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 467.42 Td (Additional investment in subsidiaries) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 467.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.80 467.47 Td (\(4,600) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.65 467.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 467.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.80 467.47 Td (\(3,600) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 467.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.15 467.42 Td (8,200) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 467.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.00 452.42 Td (Net cash from/\(used in\) investing) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.00 442.42 Td (activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.00 442.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.65 442.42 Td (849) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.00 442.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.80 442.47 Td (\(4,463) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.65 442.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.00 442.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.30 442.47 Td (\(547) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.65 442.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.00 442.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.80 442.47 Td (\(4,153) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 442.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.00 442.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.15 442.42 Td (8,509) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.00 442.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 442.42 Td (195) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 428.32 Td (CASH FLOWS \(USED IN\)/FROM) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 418.32 Td (FINANCING ACTIVITIES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 404.32 Td (Net \(payments\)/borrowings on revolving) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.00 394.32 Td (credit facility) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 394.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 394.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.30 394.47 Td (\(237) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.65 394.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 394.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 394.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.30 394.47 Td (\(237) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 394.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 379.42 Td (Senior notes issued) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 379.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 379.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.15 379.42 Td (1,606) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 379.42 Td () 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 535.15 379.42 Td (1,606) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 364.42 Td (Proceeds from issuance of other debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 364.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 364.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.65 364.42 Td (400) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.65 364.42 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 364.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 364.42 Td (404) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 349.42 Td (Debt issuance costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 349.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 349.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.30 349.47 Td (\(14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.65 349.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 349.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 349.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.30 349.47 Td (\(14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 349.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 334.42 Td (Repayments of debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.30 334.42 Td (\(300) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.65 334.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 334.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 375.80 334.47 Td (\(1,037) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.65 334.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.30 334.47 Td (\(564) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 334.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 334.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.80 334.47 Td (\(1,901) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 334.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 319.42 Td (Repurchase of shares) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.30 319.42 Td (\(396) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.65 319.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 319.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 319.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 319.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 319.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.30 319.47 Td (\(396) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 319.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 305.32 Td (Proceeds from issuance of shares and excess) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.00 295.32 Td (tax benefit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 295.42 Td (63) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 295.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 295.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 295.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 295.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 295.42 Td (63) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 280.42 Td (Payments of deferred and contingent ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.00 270.42 Td (consideration related to acquisitions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 270.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 270.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 270.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.30 270.47 Td (\(67) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 270.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 270.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.30 270.47 Td (\(67) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 270.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 255.42 Td (Dividends paid) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.30 255.42 Td (\(199) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.65 255.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.30 255.47 Td (\(162) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.65 255.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.30 255.47 Td (\(302) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.65 255.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.30 255.47 Td (\(90) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 255.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.65 255.42 Td (554) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.30 255.47 Td (\(199) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 255.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 240.42 Td (Acquisitions of and dividends paid to) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.00 230.42 Td (noncontrolling interests) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 230.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 230.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 230.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.30 230.47 Td (\(21) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 230.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 230.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.30 230.47 Td (\(21) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 230.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 216.32 Td (Proceeds from intercompany financing) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.00 206.32 Td (activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 206.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.15 206.42 Td (4,368) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.65 206.42 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 206.42 Td (4,266) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.80 206.47 Td (\(8,635) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 206.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 206.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 192.32 Td (Repayments of intercompany financing) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.00 182.32 Td (activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 182.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.30 182.47 Td (\(53) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.65 182.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.30 182.47 Td (\(22) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.65 182.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.30 182.47 Td (\(118) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 182.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.65 182.42 Td (193) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 182.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.00 168.32 Td (Net cash \(used in\)/from financing) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.00 158.32 Td (activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.00 158.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.30 158.42 Td (\(832) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.65 158.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.00 158.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.15 158.42 Td (4,153) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.00 158.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.65 158.42 Td (395) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.00 158.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 158.42 Td (3,410) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.00 158.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.80 158.47 Td (\(7,888) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 158.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.00 158.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.30 158.47 Td (\(762) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 158.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 144.32 Td (\(DECREASE\)/INCREASE IN CASH AND) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 134.32 Td (CASH EQUIVALENTS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.30 134.42 Td (\(3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.65 134.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.30 134.47 Td (\(2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.65 134.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 134.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 134.42 Td (358) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 134.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 134.42 Td (353) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 120.32 Td (Effect of exchange rate changes on cash and cash) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 110.32 Td (equivalents) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 110.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 110.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 110.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.30 110.47 Td (\(15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 110.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 110.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.30 110.47 Td (\(15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 110.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 96.32 Td (CASH AND CASH EQUIVALENTS,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 86.32 Td (BEGINNING OF PERIOD) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.65 86.42 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.65 86.42 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 86.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 86.42 Td (527) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 86.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 86.42 Td (532) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 72.32 Td (CASH AND CASH EQUIVALENTS, END OF) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 62.32 Td (PERIOD) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.00 62.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 62.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.00 62.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 62.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.00 62.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 62.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.00 62.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 62.42 Td (870) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.00 62.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 62.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.00 62.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 62.42 Td (870) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 345 0 obj <> endobj 346 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.50 31.60 Td (172) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 198.90 742.25 Td (Condensed Consolidated Statement of Cash Flows) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 690.75 204.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 253.50 690.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 690.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.50 690.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 690.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 690.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.50 690.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 690.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 690.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 690.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 690.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 690.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 640.75 204.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 253.50 640.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 640.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.50 640.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 640.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 640.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.50 640.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 640.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 640.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 640.75 48.00 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i [] 0 d 0 J 0 j 3 M 357.5 460.75 m 405.5 460.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 485.75 m 457.5 485.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 460.75 m 457.5 460.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 485.75 m 509.5 485.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 460.75 m 509.5 460.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 485.75 m 561.5 485.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 460.75 m 561.5 460.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 235.75 m 301.5 235.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 210.75 m 301.5 210.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 235.75 m 353.5 235.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 210.75 m 353.5 210.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 235.75 m 405.5 235.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 210.75 m 405.5 210.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 235.75 m 457.5 235.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 210.75 m 457.5 210.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 235.75 m 509.5 235.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 210.75 m 509.5 210.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 235.75 m 561.5 235.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 210.75 m 561.5 210.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 135.75 m 301.5 135.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 135.75 m 353.5 135.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 135.75 m 405.5 135.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 135.75 m 457.5 135.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 135.75 m 509.5 135.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 135.75 m 561.5 135.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 135.75 m 301.5 135.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 110.75 m 301.5 110.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 135.75 m 353.5 135.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 110.75 m 353.5 110.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 135.75 m 405.5 135.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 110.75 m 405.5 110.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 135.75 m 457.5 135.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 110.75 m 457.5 110.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 135.75 m 509.5 135.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 110.75 m 509.5 110.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 135.75 m 561.5 135.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 110.75 m 561.5 110.75 l s BT /F2 7.00 Tf ET q 0 0 0 rg BT 361.15 720.81 Td (Year ended December 31, 2015) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 268.30 708.81 Td (W) Tj ET Q q 0 0 0 rg BT 275.17 708.81 Td (illis) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 266.20 701.81 Td (T) Tj ET Q q 0 0 0 rg BT 270.23 701.81 Td (owers) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 265.70 694.81 Td (W) Tj ET Q q 0 0 0 rg BT 272.31 694.81 Td (atson) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 313.40 701.81 Td (The Other) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 311.50 694.81 Td (Guarantors) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 375.15 701.81 Td (The) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 371.90 694.81 Td (Issuer) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 424.10 694.81 Td (Other) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 464.15 701.81 Td (Consolidating) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 466.70 694.81 Td (adjustments) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 517.35 694.81 Td (Consolidated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 680.42 Td (NET CASH \(USED IN\)/FROM OPERATING) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 670.42 Td (ACTIVITIES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.00 670.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.30 670.42 Td (\(10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.65 670.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.00 670.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.65 670.42 Td (593) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.00 670.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 670.42 Td (33) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.00 670.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.30 670.47 Td (\(223) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 670.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.00 670.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.30 670.47 Td (\(150) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 670.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.00 670.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 670.42 Td (243) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 655.42 Td (CASH FLOWS FROM/\(USED IN\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 645.42 Td (INVESTING ACTIVITIES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 630.42 Td (Additions to fixed assets and software for) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.00 620.42 Td (internal use) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 620.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.30 620.47 Td (\(18) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.65 620.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 620.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.30 620.47 Td (\(128) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 620.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 620.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.30 620.47 Td (\(146) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 620.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 605.42 Td (Acquisitions of operations, net of cash) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.00 595.42 Td (acquired) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 595.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 595.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 595.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.30 595.47 Td (\(857) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 595.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 595.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.30 595.47 Td (\(857) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 595.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 580.42 Td (Proceeds from sale of operations, net of cash) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.00 570.42 Td (disposed) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 570.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 570.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 570.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 570.42 Td (44) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 570.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 570.42 Td (44) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 555.42 Td (Other, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 555.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 555.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 555.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 555.42 Td (16) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 555.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 555.42 Td (16) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 540.42 Td (Proceeds from intercompany investing) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.00 530.42 Td (activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.65 530.42 Td (321) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.65 530.42 Td (136) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 530.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 530.42 Td (151) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.30 530.47 Td (\(608) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 530.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 530.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 515.42 Td (Repayments of intercompany investing) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.00 505.42 Td (activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.30 505.42 Td (\(82) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.65 505.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 505.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.30 505.47 Td (\(746) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.65 505.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.30 505.47 Td (\(181) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 505.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.15 505.42 Td (1,009) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 505.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 490.42 Td (Additional investment in subsidiaries) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 490.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.30 490.47 Td (\(420) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.65 490.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.30 490.47 Td (\(178) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.65 490.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 490.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.65 490.42 Td (598) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 490.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.00 475.42 Td (Net cash from/\(used in\) investing) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.00 465.42 Td (activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.00 465.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.65 465.42 Td (239) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.00 465.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.30 465.47 Td (\(302) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.65 465.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.00 465.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.30 465.47 Td (\(924) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.65 465.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.00 465.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.30 465.47 Td (\(955) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 465.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.00 465.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.65 465.42 Td (999) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.00 465.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.30 465.47 Td (\(943) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 465.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 450.42 Td (CASH FLOWS \(USED IN\)/FROM) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.00 440.42 Td (FINANCING ACTIVITIES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 425.42 Td (Net \(payments on\)/draw down of revolving) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.00 415.42 Td (credit facility) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 415.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 415.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.65 415.42 Td (469) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 415.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 415.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 415.42 Td (469) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 400.42 Td (Debt issuance costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 400.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 400.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.30 400.47 Td (\(5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.65 400.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 400.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 400.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.30 400.47 Td (\(5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 400.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 385.42 Td (Repayments of debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 385.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.30 385.47 Td (\(149) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.65 385.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.30 385.47 Td (\(16) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.65 385.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.30 385.47 Td (\(1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 385.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 385.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.30 385.47 Td (\(166) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 385.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 370.42 Td (Proceeds from issue of other debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 370.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 370.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.65 370.42 Td (592) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 370.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 370.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 370.42 Td (592) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 355.42 Td (Repurchase of shares) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.30 355.42 Td (\(82) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.65 355.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 355.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 355.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 355.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 355.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.30 355.47 Td (\(82) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 355.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 340.42 Td (Proceeds from issuance of shares and excess) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.00 330.42 Td (tax benefit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.65 330.42 Td (124) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 330.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 330.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 330.42 Td (605) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.30 330.47 Td (\(598) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 330.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 330.42 Td (131) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 315.42 Td (Dividends paid) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.30 315.42 Td (\(277) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.65 315.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 315.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 315.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.30 315.47 Td (\(150) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 315.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.65 315.42 Td (150) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.30 315.47 Td (\(277) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 315.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 300.42 Td (Acquisitions of and dividends paid to) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.00 290.42 Td (noncontrolling interests) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 290.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 290.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 290.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.30 290.47 Td (\(21) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 290.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 290.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.30 290.47 Td (\(21) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 290.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 275.42 Td (Proceeds from intercompany financing) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.00 265.42 Td (activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 265.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.65 265.42 Td (181) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 265.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 265.42 Td (828) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.80 265.47 Td (\(1,009) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 265.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 265.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 250.42 Td (Repayments of intercompany financing) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.00 240.42 Td (activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 240.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.30 240.47 Td (\(323) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.65 240.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.30 240.47 Td (\(149) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.65 240.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.30 240.47 Td (\(136) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 240.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.65 240.42 Td (608) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 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0.9333333333333333 1 rg /GS0 gs 456.50 260.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 460.50 260.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.50 260.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 260.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 210.75 203.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 253.50 210.75 47.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 300.50 210.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 304.50 210.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.50 210.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 210.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 210.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 210.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 456.50 210.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 460.50 210.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.50 210.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 210.75 48.00 -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 253.5 716.75 m 300.5 716.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 300.5 716.75 m 304.5 716.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 716.75 m 352.5 716.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 352.5 716.75 m 356.5 716.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 716.75 m 404.5 716.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404.5 716.75 m 408.5 716.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 716.75 m 456.5 716.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 456.5 716.75 m 460.5 716.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 716.75 m 508.5 716.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508.5 716.75 m 512.5 716.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 716.75 m 560.5 716.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 690.75 m 300.5 690.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 690.75 m 352.5 690.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 690.75 m 404.5 690.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 690.75 m 456.5 690.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 690.75 m 508.5 690.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 716.75 m 560.5 716.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 690.75 m 560.5 690.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 690.75 m 300.5 690.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 665.75 m 300.5 665.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 690.75 m 352.5 690.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 665.75 m 352.5 665.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 690.75 m 404.5 690.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 665.75 m 404.5 665.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 690.75 m 456.5 690.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 665.75 m 456.5 665.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 690.75 m 508.5 690.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 665.75 m 508.5 665.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 690.75 m 560.5 690.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 665.75 m 560.5 665.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 485.75 m 300.5 485.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 460.75 m 300.5 460.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 485.75 m 352.5 485.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 460.75 m 352.5 460.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 485.75 m 404.5 485.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 460.75 m 404.5 460.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 485.75 m 456.5 485.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 460.75 m 456.5 460.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 485.75 m 508.5 485.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 460.75 m 508.5 460.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 485.75 m 560.5 485.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 460.75 m 560.5 460.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 285.75 m 300.5 285.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 260.75 m 300.5 260.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 285.75 m 352.5 285.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 260.75 m 352.5 260.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 285.75 m 404.5 285.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 260.75 m 404.5 260.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 285.75 m 456.5 285.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 260.75 m 456.5 260.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 285.75 m 508.5 285.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 260.75 m 508.5 260.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 285.75 m 560.5 285.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 260.75 m 560.5 260.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 185.75 m 300.5 185.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 161.75 m 300.5 161.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 159.75 m 300.5 159.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 185.75 m 352.5 185.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 161.75 m 352.5 161.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 159.75 m 352.5 159.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 185.75 m 404.5 185.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 161.75 m 404.5 161.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 159.75 m 404.5 159.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 185.75 m 456.5 185.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 161.75 m 456.5 161.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 159.75 m 456.5 159.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 185.75 m 508.5 185.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 161.75 m 508.5 161.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 159.75 m 508.5 159.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 185.75 m 560.5 185.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 161.75 m 560.5 161.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 159.75 m 560.5 159.75 l s BT /F2 7.00 Tf ET q 0 0 0 rg BT 360.65 720.81 Td (Year ended December 31, 2014) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 267.80 708.81 Td (Willis) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 265.70 701.81 Td (Towers) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 265.20 694.81 Td (Watson) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 312.40 701.81 Td (The Other) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 310.50 694.81 Td (Guarantors) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 374.15 701.81 Td (The) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 370.90 694.81 Td (Issuer) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 423.10 694.81 Td (Other) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 463.15 701.81 Td (Consolidating) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 465.70 694.81 Td (adjustments) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 516.35 694.81 Td (Consolidated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 680.42 Td (NET CASH \(USED IN\)/FROM OPERATING) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 670.42 Td (ACTIVITIES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.00 670.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.30 670.42 Td (\(35) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.65 670.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.00 670.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.65 670.42 Td (781) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.00 670.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.65 670.42 Td (181) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.00 670.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.65 670.42 Td (212) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.00 670.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.30 670.47 Td (\(662) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.65 670.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.00 670.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.65 670.42 Td (477) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 655.42 Td (CASH FLOWS FROM/\(USED IN\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 645.42 Td (INVESTING ACTIVITIES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 630.42 Td (Additions to fixed assets and software for) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.00 620.42 Td (internal use) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.65 620.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.30 620.47 Td (\(19) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.65 620.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.65 620.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.30 620.47 Td (\(95) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.65 620.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.65 620.42 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.30 620.47 Td (\(113) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 556.65 620.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 605.42 Td (Acquisitions of operations, net of cash) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.00 595.42 Td (acquired) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.65 595.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.65 595.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.65 595.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.30 595.47 Td (\(245) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.65 595.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.65 595.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.30 595.47 Td (\(245) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 556.65 595.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 580.42 Td (Proceeds from sale of operations, net of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.00 570.42 Td (cash disposed) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.65 570.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.65 570.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.65 570.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.65 570.42 Td (86) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.65 570.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.65 570.42 Td (86) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 555.42 Td (Other, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.65 555.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.65 555.42 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.65 555.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.30 555.47 Td (\(4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.65 555.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.30 555.47 Td (\(1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.65 555.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.30 555.47 Td (\(4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 556.65 555.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 540.42 Td (Proceeds from intercompany investing) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.00 530.42 Td (activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.65 530.42 Td (361) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.65 530.42 Td (120) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.65 530.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.65 530.42 Td (435) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.30 530.47 Td (\(916) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.65 530.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.65 530.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 515.42 Td (Repayments of intercompany investing) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.00 505.42 Td (activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.65 505.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.30 505.47 Td (\(180) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.65 505.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.30 505.47 Td (\(4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.65 505.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.30 505.47 Td (\(46) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.65 505.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.65 505.42 Td (230) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.65 505.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.00 490.42 Td (Additional investment in subsidiaries) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.30 490.42 Td (\(31) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.65 490.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.65 490.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.65 490.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.65 490.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.65 490.42 Td (31) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.65 490.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 465.42 Td (Net cash from/\(used in\) investing activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.00 465.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.65 465.42 Td (330) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.00 465.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.30 465.47 Td (\(78) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.65 465.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.00 465.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.30 465.47 Td (\(4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.65 465.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.00 465.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.65 465.42 Td (131) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.00 465.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.30 465.47 Td (\(655) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.65 465.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.00 465.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.30 465.47 Td (\(276) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 556.65 465.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 450.42 Td (CASH FLOWS \(USED IN\)/FROM) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.00 440.42 Td (FINANCING ACTIVITIES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 425.42 Td (Debt issuance costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.65 425.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.65 425.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.65 425.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.30 425.47 Td (\(3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.65 425.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.65 425.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.30 425.47 Td (\(3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 556.65 425.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 410.42 Td (Repayments of debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.65 410.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.65 410.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.30 410.47 Td (\(15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.65 410.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.65 410.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.65 410.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.30 410.47 Td (\(15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 556.65 410.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 395.42 Td (Repurchase of shares) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 278.30 395.42 Td (\(213) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.65 395.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.65 395.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.65 395.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.65 395.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.65 395.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.30 395.47 Td (\(213) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 556.65 395.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 380.42 Td (Proceeds from issuance of shares and excess) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.00 370.42 Td (tax benefit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.65 370.42 Td (134) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.65 370.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.65 370.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.65 370.42 Td (36) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.30 370.47 Td (\(31) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.65 370.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.65 370.42 Td (139) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 355.42 Td (Dividends paid) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 278.30 355.42 Td (\(210) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.65 355.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.30 355.47 Td (\(155) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.65 355.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.30 355.47 Td (\(155) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.65 355.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.30 355.47 Td (\(352) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.65 355.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.65 355.42 Td (662) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.30 355.47 Td (\(210) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 556.65 355.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 340.42 Td (Acquisitions of and dividends paid to) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.00 330.42 Td (noncontrolling interests) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.65 330.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.30 330.47 Td (\(4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.65 330.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.65 330.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.30 330.47 Td (\(17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.65 330.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.65 330.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.30 330.47 Td (\(21) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 556.65 330.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.00 315.42 Td (Proceeds from intercompany financing) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.00 305.42 Td (activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.65 305.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.65 305.42 Td (50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.65 305.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.65 305.42 Td (180) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.30 305.47 Td (\(230) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.65 305.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.65 305.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 290.42 Td (Repayments of intercompany financing activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.65 290.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.30 290.47 Td (\(595) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.65 290.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.30 290.47 Td (\(7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.65 290.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.30 290.47 Td (\(314) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.65 290.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.65 290.42 Td (916) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.65 290.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 265.42 Td (Net cash \(used in\)/from financing activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.00 265.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 278.30 265.42 Td (\(289) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.65 265.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.00 265.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.30 265.47 Td (\(704) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.65 265.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.00 265.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.30 265.47 Td (\(177) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.65 265.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.00 265.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.30 265.47 Td (\(470) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.65 265.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.00 265.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.15 265.42 Td (1,317) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.00 265.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.30 265.47 Td (\(323) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 556.65 265.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 250.42 Td (INCREASE/\(DECREASE\) IN CASH AND) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 240.42 Td (CASH EQUIVALENTS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.65 240.42 Td (6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.30 240.47 Td (\(1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.65 240.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.65 240.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.30 240.47 Td (\(127) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.65 240.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.65 240.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.30 240.47 Td (\(122) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 556.65 240.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 225.42 Td (Effect of exchange rate changes on cash and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 215.42 Td (cash equivalents) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.65 215.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.65 215.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.65 215.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.30 215.47 Td (\(39) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.65 215.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.65 215.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.30 215.47 Td (\(39) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 556.65 215.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 200.42 Td (CASH AND CASH EQUIVALENTS,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 190.42 Td (BEGINNING OF PERIOD) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.65 190.42 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.65 190.42 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.65 190.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.65 190.42 Td (790) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.65 190.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.65 190.42 Td (796) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 175.42 Td (CASH AND CASH EQUIVALENTS, END OF) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 165.42 Td (PERIOD) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.00 165.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.65 165.42 Td (9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.00 165.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.65 165.42 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.00 165.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.65 165.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.00 165.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.65 165.42 Td (624) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.00 165.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.65 165.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.00 165.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.65 165.42 Td (635) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 349 0 obj <> endobj 350 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.50 31.60 Td (174) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (ITEM 9. CHANGES IN ) Tj ET Q q 0 0 0 rg BT 154.18 742.25 Td (AND DISAGREEMENTS ) Tj ET Q q 0 0 0 rg BT 268.47 742.25 Td (WITH ) Tj ET Q q 0 0 0 rg BT 298.75 742.25 Td (ACCOUNT) Tj ET Q q 0 0 0 rg BT 348.57 742.25 Td (ANTS ON ) Tj ET Q q 0 0 0 rg BT 394.69 742.25 Td (ACCOUNTING ) Tj ET Q q 0 0 0 rg BT 466.09 742.25 Td (AND FINANCIAL) Tj ET Q q 0 0 0 rg BT 546.37 742.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 730.25 Td (DISCLOSURE) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 709.25 Td (None.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 688.25 Td (ITEM9A. CONTROLS ) Tj ET Q q 0 0 0 rg BT 154.46 688.25 Td (AND PROCEDURES) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 671.25 Td (Evaluation of Disclosur) Tj ET Q q 0 0 0 rg BT 149.83 671.25 Td (e Contr) Tj ET Q q 0 0 0 rg BT 182.14 671.25 Td (ols and Pr) Tj ET Q q 0 0 0 rg BT 225.30 671.25 Td (ocedur) Tj ET Q q 0 0 0 rg BT 254.56 671.25 Td (es ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 654.25 Td (An evaluation was performed under the supervision and with the participation of the chief executive of) Tj ET Q q 0 0 0 rg BT 461.63 654.25 Td (ficer \(CEO\) and chief ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 642.25 Td (financial of) Tj ET Q q 0 0 0 rg BT 95.63 642.25 Td (ficer \(CFO\), of the ef) Tj ET Q q 0 0 0 rg BT 187.35 642.25 Td (fectiveness of the design and operation of our disclosure controls and procedures as of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 630.25 Td (end of the period covered by this report. Based upon that evaluation, our management, including the CEO and CFO, concluded ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 618.25 Td (that our disclosure controls and procedures were ef) Tj ET Q q 0 0 0 rg BT 253.91 618.25 Td (fective as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.27 618.25 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.86 618.25 Td ( in providing reasonable assurance that the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 606.25 Td (information required to be disclosed in our periodic reports we file or submit under the Exchange ) Tj ET Q q 0 0 0 rg BT 441.00 606.25 Td (Act is \(1\)recorded, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 594.25 Td (processed, summarized and reported within the time periods specified in SEC rules and forms, and \(2\)accumulated and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 582.25 Td (communicated to our management to allow for timely decisions regarding required disclosure.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.67 582.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 561.25 Td (Changes in Internal Contr) Tj ET Q q 0 0 0 rg BT 162.89 561.25 Td (ol Over) Tj ET Q q 0 0 0 rg BT 194.64 561.25 Td ( Financial Reporting) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 540.25 Td (There were no changes in our internal control over financial reporting in the quarter ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.02 540.25 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.60 540.25 Td ( that materially ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 528.25 Td (af) Tj ET Q q 0 0 0 rg BT 57.59 528.25 Td (fected, or are reasonably likely to materially af) Tj ET Q q 0 0 0 rg BT 244.54 528.25 Td (fect, our internal control over financial reporting. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 507.25 Td (Management) Tj ET Q q 0 0 0 rg BT 109.06 507.25 Td (s Report on Internal Contr) Tj ET Q q 0 0 0 rg BT 223.87 507.25 Td (ol over) Tj ET Q q 0 0 0 rg BT 252.85 507.25 Td ( Financial Reporting) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.25 Td (Internal control over financial reporting refers to the process designed by) Tj ET Q q 0 0 0 rg BT 341.46 490.25 Td (, or under the supervision of, our CEO and CFO, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.25 Td (overseen by our Board of Directors, management and other personnel, to provide reasonable assurance regarding the reliability ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.25 Td (of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.25 Td (accounting principles, and includes those policies and procedures that:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.86 454.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.45 439.25 Td (\(1\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.45 439.25 Td (Pertain to the maintenance of records that in reasonable detail accurately and fairly reflect the transactions and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.45 427.25 Td (dispositions of the assets of the Company;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.33 427.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.45 412.25 Td (\(2\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.45 412.25 Td (Provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.45 400.25 Td (accordance with generally accepted accounting principles, and that receipts and expenditures of the Company are being ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.45 388.25 Td (made only in accordance with authorizations of management and directors of the Company; and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.04 388.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.45 373.25 Td (\(3\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.45 373.25 Td (Provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.45 361.25 Td (the Company) Tj ET Q q 0 0 0 rg BT 136.83 361.25 Td (s assets that could have a material ef) Tj ET Q q 0 0 0 rg BT 282.43 361.25 Td (fect on the financial statements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.32 361.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 340.25 Td (Internal control over financial reporting cannot provide absolute assurance of achieving financial reporting objectives because ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 328.25 Td (of its inherent limitations. Internal control over financial reporting is a process that involves human diligence and compliance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 316.25 Td (and is subject to lapses in judgment and breakdowns resulting from human failures. Internal control over financial reporting can ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 304.25 Td (also be circumvented by collusion or improper management override. Because of such limitations, there is a risk that material ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 292.25 Td (misstatements may not be prevented or detected on a timely basis by internal control over financial reporting. However) Tj ET Q q 0 0 0 rg BT 526.67 292.25 Td (, these ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 280.25 Td (inherent limitations are known features of the financial reporting process. ) Tj ET Q q 0 0 0 rg BT 346.11 280.25 Td (Therefore, it is possible to design into the process ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 268.25 Td (safeguards to reduce, though not eliminate, this risk.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.39 268.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 247.25 Td (Management is responsible for establishing and maintaining adequate internal control over financial reporting for the Company) Tj ET Q q 0 0 0 rg BT 559.48 247.25 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 235.25 Td (Management has used the criteria set forth by the Committee of Sponsoring Or) Tj ET Q q 0 0 0 rg BT 365.85 235.25 Td (ganizations of the ) Tj ET Q q 0 0 0 rg BT 439.26 235.25 Td (T) Tj ET Q q 0 0 0 rg BT 445.02 235.25 Td (readway Commission ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 223.25 Td (\(COSO\) in the report entitled ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 176.36 223.25 Td (Internal Contr) Tj ET Q q 0 0 0 rg BT 234.04 223.25 Td (ol Integrated Framework \(2013\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 375.69 223.25 Td ( to evaluate the ef) Tj ET Q q 0 0 0 rg BT 446.58 223.25 Td (fectiveness of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 211.25 Td (Company) Tj ET Q q 0 0 0 rg BT 91.67 211.25 Td (s internal control over financial reporting. Based on this evaluation, management has concluded that the Company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 199.25 Td (maintained ef) Tj ET Q q 0 0 0 rg BT 104.52 199.25 Td (fective internal control over financial reporting as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.65 199.25 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.23 199.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.73 199.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 178.25 Td (The ef) Tj ET Q q 0 0 0 rg BT 75.63 178.25 Td (fectiveness of our internal controls over financial reporting has been audited by DeloitteLLP) Tj ET Q q 0 0 0 rg BT 446.90 178.25 Td (, an independent registered ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 166.25 Td (public accounting firm, as stated in their report, which is included herein.) Tj ET Q endstream endobj 351 0 obj <> endobj 352 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.50 31.60 Td (175) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (REPOR) Tj ET Q q 0 0 0 rg BT 84.65 742.25 Td (T) Tj ET Q q 0 0 0 rg BT 91.14 742.25 Td ( OF) Tj ET Q q 0 0 0 rg BT 107.15 742.25 Td ( INDEPENDENT) Tj ET Q q 0 0 0 rg BT 182.26 742.25 Td ( REGISTERED PUBLIC ) Tj ET Q q 0 0 0 rg BT 292.57 742.25 Td (ACCOUNTING FIRM) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 721.25 Td (T) Tj ET Q q 0 0 0 rg BT 55.75 721.25 Td (o the Board of Dir) Tj ET Q q 0 0 0 rg BT 133.34 721.25 Td (ectors and Shar) Tj ET Q q 0 0 0 rg BT 200.38 721.25 Td (eholders of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 709.25 Td (W) Tj ET Q q 0 0 0 rg BT 59.82 709.25 Td (illis ) Tj ET Q q 0 0 0 rg BT 77.14 709.25 Td (T) Tj ET Q q 0 0 0 rg BT 82.90 709.25 Td (owers ) Tj ET Q q 0 0 0 rg BT 110.21 709.25 Td (W) Tj ET Q q 0 0 0 rg BT 119.65 709.25 Td (atson Public Limited Company ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 697.25 Td (Dublin, Ir) Tj ET Q q 0 0 0 rg BT 92.61 697.25 Td (eland) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 676.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 676.25 Td (e have audited the internal control over financial reporting of ) Tj ET Q q 0 0 0 rg BT 305.02 676.25 Td (W) Tj ET Q q 0 0 0 rg BT 314.06 676.25 Td (illis ) Tj ET Q q 0 0 0 rg BT 331.39 676.25 Td (T) Tj ET Q q 0 0 0 rg BT 336.80 676.25 Td (owers ) Tj ET Q q 0 0 0 rg BT 363.00 676.25 Td (W) Tj ET Q q 0 0 0 rg BT 371.64 676.25 Td (atson Public Limited Company and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 664.25 Td (subsidiaries \(the Company\) as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 193.02 664.25 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 271.60 664.25 Td (, based on criteria established in ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 402.39 664.25 Td (Internal Contr) Tj ET Q q 0 0 0 rg BT 460.08 664.25 Td (ol Integrated ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 652.25 Td (Framework \(2013\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 125.82 652.25 Td ( issued by the Committee of Sponsoring Or) Tj ET Q q 0 0 0 rg BT 299.24 652.25 Td (ganizations of the ) Tj ET Q q 0 0 0 rg BT 372.65 652.25 Td (T) Tj ET Q q 0 0 0 rg BT 378.40 652.25 Td (readway Commission. ) Tj ET Q q 0 0 0 rg BT 470.16 652.25 Td (The Company) Tj ET Q q 0 0 0 rg BT 529.87 652.25 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 640.25 Td (management is responsible for maintaining ef) Tj ET Q q 0 0 0 rg BT 232.82 640.25 Td (fective internal control over financial reporting and for its assessment of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 628.25 Td (ef) Tj ET Q q 0 0 0 rg BT 57.59 628.25 Td (fectiveness of internal control over financial reporting, included in the accompanying Management) Tj ET Q q 0 0 0 rg BT 456.33 628.25 Td (s Report on Internal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 616.25 Td (Control over Financial Reporting. Our responsibility is to express an opinion on the Company) Tj ET Q q 0 0 0 rg BT 431.34 616.25 Td (s internal control over financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 604.25 Td (reporting based on our audit.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 583.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 583.25 Td (e conducted our audit in accordance with the standards of the Public Company ) Tj ET Q q 0 0 0 rg BT 374.94 583.25 Td (Accounting Oversight Board \(United States\). ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 571.25 Td (Those standards require that we plan and perform the audit to obtain reasonable assurance about whether ef) Tj ET Q q 0 0 0 rg BT 479.66 571.25 Td (fective internal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 559.25 Td (control over financial reporting was maintained in all material respects. Our audit included obtaining an understanding of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 547.25 Td (internal control over financial reporting, assessing the risk that a material weakness exists, testing and evaluating the design and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 535.25 Td (operating ef) Tj ET Q q 0 0 0 rg BT 97.85 535.25 Td (fectiveness of internal control based on the assessed risk, and performing such other procedures as we considered ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 523.25 Td (necessary in the circumstances. ) Tj ET Q q 0 0 0 rg BT 180.32 523.25 Td (W) Tj ET Q q 0 0 0 rg BT 188.96 523.25 Td (e believe that our audit provides a reasonable basis for our opinion.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.25 Td (A) Tj ET Q q 0 0 0 rg BT 56.67 502.25 Td ( company) Tj ET Q q 0 0 0 rg BT 98.60 502.25 Td (s internal control over financial reporting is a process designed by) Tj ET Q q 0 0 0 rg BT 361.76 502.25 Td (, or under the supervision of, the company) Tj ET Q q 0 0 0 rg BT 533.67 502.25 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.25 Td (principal executive and principal financial of) Tj ET Q q 0 0 0 rg BT 229.46 490.25 Td (ficers, or persons performing similar functions, and ef) Tj ET Q q 0 0 0 rg BT 445.05 490.25 Td (fected by the company) Tj ET Q q 0 0 0 rg BT 538.63 490.25 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.25 Td (board of directors, management, and other personnel to provide reasonable assurance regarding the reliability of financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.25 Td (reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.25 Td (principles. ) Tj ET Q q 0 0 0 rg BT 96.38 454.25 Td (A) Tj ET Q q 0 0 0 rg BT 103.05 454.25 Td ( company) Tj ET Q q 0 0 0 rg BT 144.99 454.25 Td (s internal control over financial reporting includes those policies and procedures that \(1\) pertain to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.25 Td (maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.25 Td (the company; \(2\) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.25 Td (statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.25 Td (being made only in accordance with authorizations of management and directors of the company; and \(3\) provide reasonable ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.25 Td (assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company) Tj ET Q q 0 0 0 rg BT 510.43 394.25 Td (s assets that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.25 Td (could have a material ef) Tj ET Q q 0 0 0 rg BT 145.88 382.25 Td (fect on the financial statements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 361.25 Td (Because of the inherent limitations of internal control over financial reporting, including the possibility of collusion or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 349.25 Td (improper management override of controls, material misstatements due to error or fraud may not be prevented or detected on a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 337.25 Td (timely basis. ) Tj ET Q q 0 0 0 rg BT 105.00 337.25 Td (Also, projections of any evaluation of the ef) Tj ET Q q 0 0 0 rg BT 280.88 337.25 Td (fectiveness of the internal control over financial reporting to future ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 325.25 Td (periods are subject to the risk that the controls may become inadequate because of changes in conditions, or that the degree of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 313.25 Td (compliance with the policies or procedures may deteriorate.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 292.25 Td (In our opinion, the Company maintained, in all material respects, ef) Tj ET Q q 0 0 0 rg BT 320.58 292.25 Td (fective internal control over financial reporting as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 280.25 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.58 280.25 Td (, based on the criteria established in ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 274.09 280.25 Td (Internal Contr) Tj ET Q q 0 0 0 rg BT 331.78 280.25 Td (ol Integrated Framework \(2013\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.42 280.25 Td ( issued by the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 268.25 Td (Committee of Sponsoring Or) Tj ET Q q 0 0 0 rg BT 166.20 268.25 Td (ganizations of the ) Tj ET Q q 0 0 0 rg BT 239.61 268.25 Td (T) Tj ET Q q 0 0 0 rg BT 245.37 268.25 Td (readway Commission.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 247.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 247.25 Td (e have also audited, in accordance with the standards of the Public Company ) Tj ET Q q 0 0 0 rg BT 367.44 247.25 Td (Accounting Oversight Board \(United States\), ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 235.25 Td (the consolidated financial statements as of and for the year ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.51 235.25 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.09 235.25 Td ( of the Company and our report dated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 223.25 Td (March1, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.60 223.25 Td ( expressed an unqualified opinion on those financial statements.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.00 169.25 Td (/s/ Deloitte LLP) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.00 157.25 Td (London, United Kingdom) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 145.25 Td (March1, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.60 145.25 Td ( ) Tj ET Q endstream endobj 353 0 obj <> endobj 354 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.50 31.60 Td (176) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (ITEM9B. OTHER INFORMA) Tj ET Q q 0 0 0 rg BT 182.60 742.25 Td (TION) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 721.25 Td (Earnings Release) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 700.25 Td (On February 9, 2017, the Company issued an earnings release announcing its financial results for the quarter and year ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 688.25 Td (December 31, 2016, and furnished a copy of the release as Exhibit 99.1 to the Company) Tj ET Q q 0 0 0 rg BT 404.90 688.25 Td (s current report on Form 8-K filed on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 676.25 Td (the same date \(which was further revised in an 8-K amendment filed on February 14, 2017\). Subsequent to the release of its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 664.25 Td (earnings, management corrected an error by recording a $103 million benefit from income taxes related to the release of a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 652.25 Td (portion of our U.S. deferred tax valuation allowance. ) Tj ET Q q 0 0 0 rg BT 263.92 652.25 Td (This had no impact to the Company) Tj ET Q q 0 0 0 rg BT 410.00 652.25 Td (s previously reported adjusted diluted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 640.25 Td (earnings per share. However) Tj ET Q q 0 0 0 rg BT 163.99 640.25 Td (, a portion of the correction should have been recorded in each of the preceding three fiscal year ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 628.25 Td (2016 Quarterly Reports on Forms 10-Q. Management has determined that the error is immaterial to the previously filed 2016 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 616.25 Td (quarterly financial statements and has no impact to prior year financial statements. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 595.25 Td (The Company has made certain adjustments to its consolidated statements of operations and consolidated balance sheets for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 583.25 Td (quarter and year ended December 31, 2016, to reflect the benefit from income taxes. ) Tj ET Q q 0 0 0 rg BT 392.08 583.25 Td (As a result, as compared to what the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 571.25 Td (Company previously reported in its earnings release, diluted earnings per share increased from $0.25 to $1.03 and from $2.26 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 559.25 Td (to $3.04 for the fourth quarter and year ended December 31, 2016, respectively) Tj ET Q q 0 0 0 rg BT 366.18 559.25 Td (, and net income attributable to ) Tj ET Q q 0 0 0 rg BT 492.90 559.25 Td (W) Tj ET Q q 0 0 0 rg BT 501.94 559.25 Td (illis ) Tj ET Q q 0 0 0 rg BT 519.26 559.25 Td (T) Tj ET Q q 0 0 0 rg BT 524.67 559.25 Td (owers ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 547.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 547.25 Td (atson increased from $34 million to $142 million and $312 million to $420 million for the quarter and year ended December ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 535.25 Td (31, 2016, respectively) Tj ET Q q 0 0 0 rg BT 137.66 535.25 Td (. ) Tj ET Q q 0 0 0 rg BT 144.98 535.25 Td (These adjustments are reflected in the financial statements filed as part of this Form 10-K. ) Tj ET Q q 0 0 0 rg BT 510.52 535.25 Td (The adjusted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 523.25 Td (\(non-GAAP\) results contained in the Company) Tj ET Q q 0 0 0 rg BT 241.36 523.25 Td (s earnings release remain unchanged. Revised reconciliations of these non-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 511.25 Td (GAAP) Tj ET Q q 0 0 0 rg BT 76.86 511.25 Td ( financial measures for the year ended December 31, 2016 to the nearest comparable GAAP) Tj ET Q q 0 0 0 rg BT 444.39 511.25 Td ( financial measures are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 499.25 Td (included herein. ) Tj ET Q q 0 0 0 rg BT 119.24 499.25 Td (The revised results have no impact on the 2017 financial outlook released by the Company in its earnings ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 487.25 Td (release.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 466.25 Td (Iran Disclosur) Tj ET Q q 0 0 0 rg BT 108.24 466.25 Td (e) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 445.25 Td (Set forth below is a description of a matter reported pursuant to Section 219 of the Iran ) Tj ET Q q 0 0 0 rg BT 400.00 445.25 Td (Threat Reduction and Syria Human ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 433.25 Td (Rights ) Tj ET Q q 0 0 0 rg BT 78.07 433.25 Td (Act of 2012 \(ITRA) Tj ET Q q 0 0 0 rg BT 157.22 433.25 Td (\) and Section 13\(r\) of the Exchange ) Tj ET Q q 0 0 0 rg BT 305.22 433.25 Td (Act. Concurrently with this annual report, we are filing a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 421.25 Td (notice pursuant to Section 13\(r\) of the Exchange ) Tj ET Q q 0 0 0 rg BT 246.05 421.25 Td (Act that the matter has been disclosed in this annual report.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 400.25 Td (Since January 1, 2015, Gras Savoye, a non-U.S. af) Tj ET Q q 0 0 0 rg BT 252.28 400.25 Td (filiate of ) Tj ET Q q 0 0 0 rg BT 288.75 400.25 Td (W) Tj ET Q q 0 0 0 rg BT 297.78 400.25 Td (illis ) Tj ET Q q 0 0 0 rg BT 315.11 400.25 Td (T) Tj ET Q q 0 0 0 rg BT 320.52 400.25 Td (owers ) Tj ET Q q 0 0 0 rg BT 346.72 400.25 Td (W) Tj ET Q q 0 0 0 rg BT 355.36 400.25 Td (atson, has acted as the broker for the Iranian ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 388.25 Td (Embassy in Paris, placing health insurance for the diplomatic staf) Tj ET Q q 0 0 0 rg BT 311.97 388.25 Td (f and handling the related claims administration.) Tj ET Q q 0 0 0 rg BT 510.35 388.25 Td (The policy ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 376.25 Td (was renewed, and placed with the European insurance company) Tj ET Q q 0 0 0 rg BT 305.08 376.25 Td (, GBG Insurance Limited, on December 27, 2016 for the 2017 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 364.25 Td (policy year) Tj ET Q q 0 0 0 rg BT 94.15 364.25 Td (. Premium payments are made quarterly) Tj ET Q q 0 0 0 rg BT 255.95 364.25 Td (, and a premium payment of 57,345 was received by Gras Savoye on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 352.25 Td (December 15, 2016 for the policy) Tj ET Q q 0 0 0 rg BT 184.31 352.25 Td (. Gras Savoye will retain a commission of 9,749 from this payment. Health benefits of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 340.25 Td (approximately 63,185 were paid to beneficiaries during the fourth quarter of 2016. It is anticipated that Gras Savoye will ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 328.25 Td (continue these activities to the extent consistent with applicable law) Tj ET Q q 0 0 0 rg BT 320.66 328.25 Td (, including U.S. Federal law) Tj ET Q q 0 0 0 rg BT 432.49 328.25 Td (, U.S. state divestment statutes, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 316.25 Td (and E.U. law) Tj ET Q q 0 0 0 rg BT 101.56 316.25 Td (.) Tj ET Q endstream endobj 355 0 obj <> endobj 356 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.50 31.60 Td (177) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 50.00 741.60 Td (P) Tj ET Q q 0 0 0 rg BT 55.90 741.60 Td (AR) Tj ET Q q 0 0 0 rg BT 71.40 741.60 Td (T) Tj ET Q q 0 0 0 rg BT 78.54 741.60 Td ( III.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 720.55 Td (ITEM10. DIRECT) Tj ET Q q 0 0 0 rg BT 132.89 720.55 Td (ORS, EXECUTIVE OFFICERS ) Tj ET Q q 0 0 0 rg BT 272.92 720.55 Td (AND CORPORA) Tj ET Q q 0 0 0 rg BT 346.89 720.55 Td (TE GOVERNANCE) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 699.55 Td (Information with respect to the executive of) Tj ET Q q 0 0 0 rg BT 225.31 699.55 Td (ficers of the Company is provided in Part I, Item 1 above under the heading ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 687.55 Td (Executive Of) Tj ET Q q 0 0 0 rg BT 106.18 687.55 Td (ficers of the Registrant. ) Tj ET Q q 0 0 0 rg BT 205.32 687.55 Td (All other information required by this Item will be provided in accordance with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 675.55 Td (Instruction G\(3\) to Form 10-K no later than 120 days after the end of the Company) Tj ET Q q 0 0 0 rg BT 385.20 675.55 Td (s fiscal year) Tj ET Q q 0 0 0 rg BT 432.40 675.55 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 654.55 Td (ITEM1) Tj ET Q q 0 0 0 rg BT 83.62 654.55 Td (1. EXECUTIVE COMPENSA) Tj ET Q q 0 0 0 rg BT 212.06 654.55 Td (TION) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 633.55 Td (The information required by this Item will be provided in accordance with Instruction G\(3\) to Form 10-K no later than 120 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 621.55 Td (days after the end of the Company) Tj ET Q q 0 0 0 rg BT 190.51 621.55 Td (s fiscal year) Tj ET Q q 0 0 0 rg BT 237.71 621.55 Td (. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 600.55 Td (ITEM 12. SECURITY) Tj ET Q q 0 0 0 rg BT 145.48 600.55 Td ( OWNERSHIP) Tj ET Q q 0 0 0 rg BT 209.66 600.55 Td ( OF) Tj ET Q q 0 0 0 rg BT 225.67 600.55 Td ( CER) Tj ET Q q 0 0 0 rg BT 248.94 600.55 Td (T) Tj ET Q q 0 0 0 rg BT 254.86 600.55 Td (AIN BENEFICIAL) Tj ET Q q 0 0 0 rg BT 337.38 600.55 Td ( OWNERS ) Tj ET Q q 0 0 0 rg BT 386.28 600.55 Td (AND MANAGEMENT) Tj ET Q q 0 0 0 rg BT 485.82 600.55 Td ( ) Tj ET Q q 0 0 0 rg BT 487.77 600.55 Td (AND RELA) Tj ET Q q 0 0 0 rg BT 538.97 600.55 Td (TED ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 588.55 Td (ST) Tj ET Q q 0 0 0 rg BT 62.05 588.55 Td (OCKHOLDER MA) Tj ET Q q 0 0 0 rg BT 146.59 588.55 Td (TTERS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 567.55 Td (The information required by this Item will be provided in accordance with Instruction G\(3\) to Form 10-K no later than 120 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 555.55 Td (days after the end of the Company) Tj ET Q q 0 0 0 rg BT 190.51 555.55 Td (s fiscal year) Tj ET Q q 0 0 0 rg BT 237.71 555.55 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 534.55 Td (ITEM13. CER) Tj ET Q q 0 0 0 rg BT 114.93 534.55 Td (T) Tj ET Q q 0 0 0 rg BT 120.86 534.55 Td (AIN RELA) Tj ET Q q 0 0 0 rg BT 168.74 534.55 Td (TIONSHIPS ) Tj ET Q q 0 0 0 rg BT 225.15 534.55 Td (AND RELA) Tj ET Q q 0 0 0 rg BT 276.35 534.55 Td (TED ) Tj ET Q q 0 0 0 rg BT 299.23 534.55 Td (TRANSACTIONS, ) Tj ET Q q 0 0 0 rg BT 383.14 534.55 Td (AND DIRECT) Tj ET Q q 0 0 0 rg BT 446.03 534.55 Td (OR INDEPENDENCE) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 513.55 Td (The information required by this Item will be provided in accordance with Instruction G\(3\) to Form 10-K no later than 120 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 501.55 Td (days after the end of the Company) Tj ET Q q 0 0 0 rg BT 190.51 501.55 Td (s fiscal year) Tj ET Q q 0 0 0 rg BT 237.71 501.55 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 480.55 Td (ITEM14. PRINCIP) Tj ET Q q 0 0 0 rg BT 135.09 480.55 Td (AL) Tj ET Q q 0 0 0 rg BT 148.43 480.55 Td ( ) Tj ET Q q 0 0 0 rg BT 150.38 480.55 Td (ACCOUNT) Tj ET Q q 0 0 0 rg BT 200.20 480.55 Td (ANT) Tj ET Q q 0 0 0 rg BT 221.13 480.55 Td ( FEES ) Tj ET Q q 0 0 0 rg BT 250.59 480.55 Td (AND SER) Tj ET Q q 0 0 0 rg BT 293.85 480.55 Td (VICES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 459.55 Td (The information required by this Item will be provided in accordance with Instruction G\(3\) to Form 10-K no later than 120 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 447.55 Td (days after the end of the Company) Tj ET Q q 0 0 0 rg BT 190.51 447.55 Td (s fiscal year) Tj ET Q q 0 0 0 rg BT 237.71 447.55 Td (.) Tj ET Q endstream endobj 357 0 obj <> endobj 358 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.50 31.60 Td (178) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 50.00 741.60 Td (P) Tj ET Q q 0 0 0 rg BT 55.90 741.60 Td (AR) Tj ET Q q 0 0 0 rg BT 71.40 741.60 Td (T) Tj ET Q q 0 0 0 rg BT 78.54 741.60 Td ( IV) Tj ET Q q 0 0 0 rg BT 92.10 741.60 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 720.55 Td (ITEM15. EXHIBITS ) Tj ET Q q 0 0 0 rg BT 144.47 720.55 Td (AND FINANCIAL) Tj ET Q q 0 0 0 rg BT 224.76 720.55 Td ( ST) Tj ET Q q 0 0 0 rg BT 238.75 720.55 Td (A) Tj ET Q q 0 0 0 rg BT 245.22 720.55 Td (TEMENT) Tj ET Q q 0 0 0 rg BT 288.38 720.55 Td ( SCHEDULES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 699.55 Td (a\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 699.55 Td (The following documents have been included in Part II, Item 8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 678.55 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 678.55 Td (Report of Independent Registered Public ) Tj ET Q q 0 0 0 rg BT 251.24 678.55 Td (Accounting Firm) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 657.55 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 657.55 Td (Consolidated Financial Statements of ) Tj ET Q q 0 0 0 rg BT 238.02 657.55 Td (W) Tj ET Q q 0 0 0 rg BT 247.05 657.55 Td (illis ) Tj ET Q q 0 0 0 rg BT 264.38 657.55 Td (T) Tj ET Q q 0 0 0 rg BT 269.79 657.55 Td (owers ) Tj ET Q q 0 0 0 rg BT 295.99 657.55 Td (W) Tj ET Q q 0 0 0 rg BT 304.63 657.55 Td (atson) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 636.55 Td (Financial Statements:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 615.55 Td (Consolidated Statements of Operations for each of the three years in the period ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.89 615.55 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.47 615.55 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 594.55 Td (Consolidated Statements of Comprehensive Income/\(Loss\) for each of the three years in the period ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 582.55 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 200.58 582.55 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 561.55 Td (Consolidated Balance Sheets at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 250.30 561.55 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.88 561.55 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.32 561.55 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.32 561.55 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 540.55 Td (Consolidated Statements of Cash Flows for each of the three years in the period ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.96 540.55 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.55 540.55 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 519.55 Td (Consolidated Statements of Changes in Equity for each of the three years in the period ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.89 519.55 Td (December31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 507.55 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.00 507.55 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 486.55 Td (Notes to the Consolidated Financial Statements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 465.55 Td (b\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 465.55 Td (Exhibits:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 444.55 Td (In reviewing the agreements included or incorporated by reference as exhibits to this ) Tj ET Q q 0 0 0 rg BT 426.71 444.55 Td (Annual Report on Form 10-K, it ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 432.55 Td (is important to note that they are included to provide investors with information regarding their terms, and are not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 420.55 Td (intended to provide any other factual or disclosure information about ) Tj ET Q q 0 0 0 rg BT 364.07 420.55 Td (W) Tj ET Q q 0 0 0 rg BT 373.11 420.55 Td (illis ) Tj ET Q q 0 0 0 rg BT 390.43 420.55 Td (T) Tj ET Q q 0 0 0 rg BT 395.84 420.55 Td (owers ) Tj ET Q q 0 0 0 rg BT 422.04 420.55 Td (W) Tj ET Q q 0 0 0 rg BT 430.68 420.55 Td (atson or the other parties to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 408.55 Td (agreements. ) Tj ET Q q 0 0 0 rg BT 136.35 408.55 Td (The agreements contain representations and warranties made by each of the parties to the applicable ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 396.55 Td (agreement. ) Tj ET Q q 0 0 0 rg BT 132.46 396.55 Td (These representations and warranties have been made solely for the benefit of the other parties to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 384.55 Td (applicable agreement, and: should not be treated as categorical statements of fact, but rather as a way of allocating risk ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 372.55 Td (between the parties; have in some cases been qualified by disclosures that were made to the other party in connection ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 360.55 Td (with the negotiation of the applicable agreement, which disclosures are not necessarily reflected in the agreement; may ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 348.55 Td (apply standards of materiality in a way that is dif) Tj ET Q q 0 0 0 rg BT 281.60 348.55 Td (ferent from what may be material to investors; and were made only as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 336.55 Td (of the date of the applicable agreement or such other date or dates as may be specified in the agreement and are subject ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 324.55 Td (to more recent developments.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 303.55 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 135.34 303.55 Td (, these representations and warranties may not describe the actual state of af) Tj ET Q q 0 0 0 rg BT 438.64 303.55 Td (fairs as of the date they were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 291.55 Td (made or at any other time. ) Tj ET Q q 0 0 0 rg BT 192.91 291.55 Td (Additional information about ) Tj ET Q q 0 0 0 rg BT 312.43 291.55 Td (W) Tj ET Q q 0 0 0 rg BT 321.47 291.55 Td (illis ) Tj ET Q q 0 0 0 rg BT 338.79 291.55 Td (T) Tj ET Q q 0 0 0 rg BT 344.20 291.55 Td (owers ) Tj ET Q q 0 0 0 rg BT 370.40 291.55 Td (W) Tj ET Q q 0 0 0 rg BT 379.04 291.55 Td (atson may be found elsewhere in this ) Tj ET Q q 0 0 0 rg BT 529.29 291.55 Td (Annual ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 279.55 Td (Report on Form 10-K and our other public filings, which are available without char) Tj ET Q q 0 0 0 rg BT 419.62 279.55 Td (ge through the SEC) Tj ET Q q 0 0 0 rg BT 501.00 279.55 Td (s website at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 267.55 Td (http://www) Tj ET Q q 0 0 0 rg BT 130.91 267.55 Td (.sec.gov) Tj ET Q q 0 0 0 rg BT 163.03 267.55 Td (.) 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(2.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.00 203.62 Td (Amendment No. 1 to Agreement and Plan of Merger, dated November19, 2015, by and among Willis,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.00 193.62 Td (Merger Sub and Towers Watson \(incorporated by reference to Exhibit 2.1 to the Form 8-K filed by the) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.00 183.62 Td (Company on November 20, 2015\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 88.00 168.62 Td (3.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.00 168.62 Td (Memorandum and Articles of Association of Willis Towers Watson Public Limited Company) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.00 158.62 Td (\(incorporated herein by reference to Exhibit 3.1 to the Form 8-A Registration Statement filed by the) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.00 148.62 Td (Company on January 5, 2016\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 88.00 133.62 Td (3.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.00 133.62 Td (Certificate of Incorporation of Willis Group Holdings Public Limited Company \(incorporated by) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.00 123.62 Td (reference to Exhibit 3.2 to the Form 8-K filed by the Company on January 4, 2010\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 88.00 108.62 Td (4.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.00 108.62 Td (Senior Indenture, dated as of July 1, 2005, and First Supplemental Indenture, dated as of July 1, 2005,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.00 98.62 Td (by and among Willis North America Inc., as the Issuer, Willis Group Holdings Public Limited) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.00 88.62 Td (Company, TA I Limited, TA II Limited, TA III Limited, Trinity Acquisition Limited, TA IV Limited) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.00 78.62 Td (and Willis Group Limited, as the Guarantors, and The Bank of New York \(f/k/a JPMorgan Chase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.00 68.62 Td (Bank, N.A.\), as the Trustee \(incorporated by reference to Exhibit 4.1 to the Form 8-K filed by the) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.00 58.62 Td (Company on July 1, 2005\)) Tj ET Q endstream endobj 359 0 obj <> endobj 360 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.50 31.60 Td (179) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 85.50 713.50 57.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 142.50 713.50 419.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 85.50 643.50 57.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 142.50 643.50 419.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 85.50 573.50 57.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 142.50 573.50 419.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 85.50 483.50 57.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 142.50 483.50 419.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 85.50 413.50 57.00 -55.00 re f /GS0 gs 0.8 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Tf ET q 0 0 0 rg BT 88.00 704.07 Td (4.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.00 704.07 Td (Third Supplemental Indenture, dated as of October 1, 2008, supplemental to the Indenture dated as of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.00 694.07 Td (July 1, 2005 \(incorporated by reference to Exhibit 4.1 to the Form 10-Q filed by the Company on) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.00 684.07 Td (November 10, 2008\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 88.00 669.07 Td (4.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.00 669.07 Td (Fourth Supplemental Indenture, dated as of September 29, 2009, supplemental to the Indenture dated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.00 659.07 Td (as of July 1, 2005 \(incorporated by reference to Exhibit 4.1 to the Form 8-K filed by the Company on) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.00 649.07 Td (September 29, 2009\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 88.00 634.07 Td (4.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 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Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 88.00 404.07 Td (4.11) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.00 404.07 Td (Indenture, dated as of August 15, 2013, by and among Trinity Acquisition Limited, as issuer, Willis) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.00 394.07 Td (Group Holdings Public Limited Company, Willis Netherlands Holdings B.V., Willis North America) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.00 384.07 Td (Inc., Willis Investment Holdings U.K. Limited, TA I Limited and Willis Group Limited, as guarantors,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.00 374.07 Td (and Wells Fargo Bank, National Association, as trustee \(incorporated by reference to Exhibit 4.1 to the) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.00 364.07 Td (Form 8-K filed by the Company on August 15, 2013\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 88.00 349.07 Td (4.12) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.00 349.07 Td (First Supplemental Indenture, dated as of August 15, 2013, 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\(incorporated by reference to Exhibit 10.1 to the Form 8-K filed by the Company) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.00 674.07 Td (on July 25, 2013\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 88.00 659.07 Td (10.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.00 659.07 Td (Second Amendment to Credit Agreement, dated as of February 27, 2015, to the Credit Agreement,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.00 649.07 Td (dated as of December 16, 2011 \(incorporated by reference to Exhibit 10.2 to the Form 8-K filed by the) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.00 639.07 Td (Company on March 2, 2015\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 88.00 624.07 Td (10.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.00 624.07 Td (Guaranty Agreement, dated as of December 16, 2011, by and among Trinity Acquisition Limited,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.00 614.07 Td (Willis Group Holdings Public Limited Company, Barclays Bank PLC, as Administrative Agent) Tj ET 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(Revolving Note and Cash Subordination Agreement, dated as of March 3, 2014, by and among Willis) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.00 524.07 Td (Securities, Inc., as borrower, SunTrust Bank, as administrative agent, and the lenders party thereto) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.00 514.07 Td (\(incorporated by reference to Exhibit 10.1 to the Form 8-K filed by the Company on March 4, 2014\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 88.00 499.07 Td (10.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.00 499.07 Td (Joinder Agreement, dated as of April 28, 2014, by and among Willis Securities, Inc., SunTrust Bank,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.00 489.07 Td (as administrative agent, and the lenders party thereto \(incorporated by reference to Exhibit 10.1 to the) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.00 479.07 Td (Form 8-K filed by the Company on May 1, 2014\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 88.00 464.07 Td (10.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.00 464.07 Td (First Amendment to Revolving Note and Cash Subordination Agreement, dated as of April 28, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.00 454.07 Td (\(incorporated by reference to Exhibit 10.2 to the Form 8-K filed by the Company on May 1, 2014\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 88.00 439.07 Td (10.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.00 439.07 Td (Second Amendment to Revolving Note and Cash Subordination Agreement, dated as of February27,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.00 429.07 Td (2015 \(incorporated by reference to Exhibit10.1 to the Current Report on Form 8-K filed by the) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.00 419.07 Td (Company on March 2, 2015\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 88.00 404.07 Td (10.10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.00 404.07 Td (Third Amendment to Revolving Note and Cash Subordination Agreement, dated as of April 27, 2016) Tj ET Q BT /F1 10.00 Tf ET q 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