%PDF-1.5 1 0 obj <> endobj 3 0 obj <> endobj 4 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 306.00 749.10 Td ( ) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 35.5 735.6 m 575.5 735.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 35.5 733.6 m 575.5 733.6 l s BT /F1 10.00 Tf ET BT /F2 15.00 Tf ET q 0 0 0 rg BT 84.35 699.10 Td (UNITED ST) Tj ET Q q 0 0 0 rg BT 163.68 699.10 Td (A) Tj ET Q q 0 0 0 rg BT 173.40 699.10 Td (TES SECURITIES) Tj ET Q q 0 0 0 rg BT 299.29 699.10 Td (AND EXCHANGE COMMISSION) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.45 687.10 Td (W) Tj ET Q q 0 0 0 rg BT 263.90 687.10 Td (ashington, D.C. 20549) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 210.5 672.6 m 400.5 672.6 l s BT /F1 10.00 Tf ET BT /F2 15.00 Tf ET q 0 0 0 rg BT 265.35 658.10 Td (FORM 10-Q) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 36.00 649.10 Td (\(Mark One\)) Tj ET Q /GS0 gs q 9.81 0 0 10.74 39.00 625.36 cm /I1 Do Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 64.00 628.65 Td (QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15\(d\) OF THE SECURITIES) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 64.00 617.70 Td (EXCHANGE ACT OF 1934) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 213.00 604.10 Td (For) Tj ET Q q 0 0 0 rg BT 228.37 604.10 Td ( the quarterly period ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 348.08 604.10 Td (July 2, 2016) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 298.50 592.10 Td (OR) Tj ET Q /GS0 gs q 9.80 0 0 10.74 39.00 568.36 cm /I2 Do Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 64.00 571.65 Td (TRANSITION REPORT PURSUANT TO SECTION 13 OR 15\(d\) OF THE SECURITIES) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 64.00 560.70 Td (EXCHANGE ACT OF 1934) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 212.30 549.10 Td (For) Tj ET Q q 0 0 0 rg BT 227.67 549.10 Td ( the transition period fr) Tj ET Q q 0 0 0 rg BT 328.03 549.10 Td (omto) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 228.45 529.10 Td (Commission File Number) Tj ET Q q 0 0 0 rg BT 337.71 529.10 Td ( 000-08822) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 210.5 514.6 m 400.5 514.6 l s BT /F1 10.00 Tf ET BT /F2 21.00 Tf ET q 0 0 0 rg BT 207.40 494.10 Td (Cavco Industries, Inc.) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 206.60 485.10 Td (\(Exact name of r) Tj ET Q q 0 0 0 rg BT 270.67 485.10 Td (egistrant as specified in its charter\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 153.80 466.00 Td (Delaware) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 420.25 466.00 Td (56-2405642) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 115.90 451.05 Td (\(State or) Tj ET Q q 0 0 0 rg BT 148.97 451.05 Td ( other) Tj ET Q q 0 0 0 rg BT 171.55 451.05 Td ( jurisdiction of) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 113.30 442.05 Td (incorporation or) Tj ET Q q 0 0 0 rg BT 176.88 442.05 Td ( organization\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 409.55 451.05 Td (\(I.R.S. Employer) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 406.75 442.05 Td (Identification No.\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 233.55 423.05 Td (1001 North Central ) Tj ET Q q 0 0 0 rg BT 310.29 423.05 Td (A) Tj ET Q q 0 0 0 rg BT 316.12 423.05 Td (venue, Suite 800) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 260.60 414.05 Td (Phoenix, ) Tj ET Q q 0 0 0 rg BT 295.61 414.05 Td (Arizona 85004) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 194.55 401.00 Td (\(Address of principal executive offices, including zip code\)) Tj ET Q BT /F1 10.00 Tf ET BT /F2 9.00 Tf ET q 0 0 0 rg BT 280.50 387.10 Td (602-256-6263) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 204.45 378.10 Td (\(Registrant's telephone number) Tj ET Q q 0 0 0 rg BT 325.12 378.10 Td (, including ar) Tj ET Q q 0 0 0 rg BT 376.21 378.10 Td (ea code\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 151.75 360.10 Td (\(Former) Tj ET Q q 0 0 0 rg BT 184.06 360.10 Td ( name, former) Tj ET Q q 0 0 0 rg BT 238.63 360.10 Td ( addr) Tj ET Q q 0 0 0 rg BT 259.22 360.10 Td (ess and former) Tj ET Q q 0 0 0 rg BT 316.04 360.10 Td ( fiscal year) Tj ET Q q 0 0 0 rg BT 356.70 360.10 Td (, if changed since last year\)) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 210.5 345.6 m 400.5 345.6 l s BT /F1 10.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 36.00 322.10 Td (Indicate by check mark whether the registrant \(1\)has filed all reports required to be filed by Section13 or 15\(d\) of the Securities Exchange ) Tj ET Q q 0 0 0 rg BT 539.57 322.10 Td (Act of ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 36.00 313.10 Td (1934 during the preceding 12 months \(or for such shorter period that the registrant was required to file such reports\), and \(2\)has been subject to such ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 36.00 304.10 Td (filing requirements for the past 90 days.) Tj ET Q q 0 0 0 rg BT 188.38 304.10 Td (Y) Tj ET Q q 0 0 0 rg BT 193.98 304.10 Td (es) Tj ET Q /GS0 gs q 8.02 0 0 9.18 205.98 302.16 cm /I3 Do Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 214.00 304.10 Td (No) Tj ET Q /GS0 gs q 8.02 0 0 9.18 238.50 302.16 cm /I4 Do Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 36.00 292.10 Td (Indicate by check mark whether the registrant has submitted electronically and posted on its corporate ) Tj ET Q q 0 0 0 rg BT 405.46 292.10 Td (W) Tj ET Q q 0 0 0 rg BT 413.23 292.10 Td (eb site, if any) Tj ET Q q 0 0 0 rg BT 461.13 292.10 Td (, every Interactive Data File ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 36.00 283.10 Td (required to be submitted and posted pursuant to Rule 405 of Regulation S-T) Tj ET Q q 0 0 0 rg BT 309.29 283.10 Td ( \( 232.405 of this chapter\) during the preceding 12 months \(or for such ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 36.00 274.10 Td (shorter period that the registrant was required to submit and post such files\).) Tj ET Q q 0 0 0 rg BT 318.85 274.10 Td (Y) Tj ET Q q 0 0 0 rg BT 324.45 274.10 Td (es) Tj ET Q /GS0 gs q 8.02 0 0 9.18 336.45 272.16 cm /I5 Do Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 344.47 274.10 Td (No) Tj ET Q /GS0 gs q 8.02 0 0 9.18 368.97 272.16 cm /I6 Do Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 36.00 262.10 Td (Indicate by check mark whether the registrant is a lar) Tj ET Q q 0 0 0 rg BT 227.00 262.10 Td (ge accelerated filer) Tj ET Q q 0 0 0 rg BT 295.09 262.10 Td (, an accelerated filer) Tj ET Q q 0 0 0 rg BT 367.67 262.10 Td (, a non-accelerated filer) Tj ET Q q 0 0 0 rg BT 452.25 262.10 Td (, or a small reporting company) Tj ET Q q 0 0 0 rg BT 562.14 262.10 Td (. ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 36.00 253.10 Td (See definitions of "lar) Tj ET Q q 0 0 0 rg BT 114.74 253.10 Td (ge accelerated filer) Tj ET Q q 0 0 0 rg BT 182.83 253.10 Td (," "accelerated filer) Tj ET Q q 0 0 0 rg BT 252.01 253.10 Td (," and "smaller reporting company" in Rule 12b-2 of the Exchange ) Tj ET Q q 0 0 0 rg BT 493.97 253.10 Td (Act. \(Check one\):) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 104.00 233.91 Td (Large accelerated filer) Tj ET Q /GS0 gs q 8.02 0 0 8.78 191.00 231.37 cm /I7 Do Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 390.00 233.91 Td (Accelerated filer) Tj ET Q /GS0 gs q 8.02 0 0 8.78 495.00 231.37 cm /I8 Do Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 104.00 222.91 Td (Non-accelerated filer) Tj ET Q /GS0 gs q 8.02 0 0 9.78 191.00 220.37 cm /I9 Do Q /GS0 gs q 9.00 0 0 9.78 199.02 220.37 cm /I10 Do Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 208.02 222.21 Td (\(Do not check if a smaller reporting company\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 390.00 222.91 Td (Smaller reporting company) Tj ET Q /GS0 gs q 8.02 0 0 8.78 495.00 220.37 cm /I11 Do Q BT /F1 10.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 36.00 209.10 Td (Indicate by check mark whether the Registrant is a shell company \(as defined in Rule 12b-2 of the Exchange ) Tj ET Q q 0 0 0 rg BT 429.12 209.10 Td (Act\).) Tj ET Q q 0 0 0 rg BT 456.03 209.10 Td (Y) Tj ET Q q 0 0 0 rg BT 461.63 209.10 Td (es) Tj ET Q /GS0 gs q 8.02 0 0 9.18 473.63 207.16 cm /I12 Do Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 481.65 209.10 Td (No) Tj ET Q /GS0 gs q 8.02 0 0 9.18 506.14 207.16 cm /I13 Do Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 36.00 197.10 Td (As of ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 57.50 197.10 Td (August5, 2016) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 112.75 197.10 Td (, ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 117.25 197.10 Td (8,971,814) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 153.25 197.10 Td ( shares of Registrant's Common Stock, $.01 par value, were outstanding.) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 35.5 183.60000000000002 m 575.5 183.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 35.5 181.60000000000002 m 575.5 181.60000000000002 l s BT /F1 10.00 Tf ET endstream endobj 5 0 obj <><><><><><><><><><><><><><><><><><><><><><><><><><><><><><>] /Rotate 0 /Contents 6 0 R>> endobj 6 0 obj <> stream BT /F2 11.00 Tf ET q 0 0 0 rg BT 237.30 741.60 Td (CA) Tj ET Q q 0 0 0 rg BT 251.77 741.60 Td (VCO INDUSTRIES, INC.) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 276.20 728.40 Td (FORM 10-Q) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 278.00 715.20 Td (July 2, 2016) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 333.92 715.20 Td ( ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 247.30 693.00 Td (T) Tj ET Q q 0 0 0 rg BT 253.82 693.00 Td (ABLE OF) Tj ET Q q 0 0 0 rg BT 301.39 693.00 Td ( CONTENTS) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 532.5 653.3 m 562.5 653.3 l s BT /F1 11.00 Tf ET q 0 0 0 rg BT 536.30 658.22 Td (Page) Tj ET Q BT /F2 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 1.05 w 0 i [] 0 d 1 J 1 j 3 M 53 641.628857421875 m 239.6240234375 641.628857421875 l s q 0 0 1 rg BT 53.00 643.35 Td (P) Tj ET Q q 0 0 1 rg BT 58.90 643.35 Td (AR) Tj ET Q q 0 0 1 rg BT 74.40 643.35 Td (T) Tj ET Q q 0 0 1 rg BT 81.54 643.35 Td ( I. FINANCIAL) Tj ET Q q 0 0 1 rg BT 155.80 643.35 Td ( INFORMA) Tj ET Q q 0 0 1 rg BT 211.51 643.35 Td (TION) Tj ET Q BT /F2 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 1.05 w 0 i [] 0 d 1 J 1 j 3 M 77 625.628857421875 m 211.427734375 625.628857421875 l s q 0 0 1 rg BT 77.00 627.35 Td (Item 1. Financial Statements) Tj ET Q BT /F2 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.54 w 0 i [] 0 d 1 J 1 j 3 M 101 609.70673828125 m 442.55322265625 609.70673828125 l s q 0 0 1 rg BT 101.00 611.17 Td (Consolidated Balance Sheets as of July 2, 2016 \(unaudited\) and ) Tj ET Q q 0 0 1 rg BT 383.58 611.17 Td (April 2, 2016) Tj ET Q BT /F1 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.54 w 0 i [] 0 d 1 J 1 j 3 M 101 591.70673828125 m 527.4541015625 591.70673828125 l s q 0 0 1 rg BT 101.00 593.17 Td (Consolidated Statements of Comprehensive Income \(unaudited\) for the three months ended July ) Tj ET Q BT /F1 11.00 Tf ET 0 0 1 RG /GS0 gs 0.54 w 0 i [] 0 d 1 J 1 j 3 M 101 580.70673828125 m 216.79541015625 580.70673828125 l s q 0 0 1 rg BT 101.00 582.17 Td (2, 2016 and June 27, 2015) Tj ET Q BT /F1 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.54 w 0 i [] 0 d 1 J 1 j 3 M 101 563.70673828125 m 528.7109375 563.70673828125 l s q 0 0 1 rg BT 101.00 565.17 Td (Consolidated Statements of Cash Flows \(unaudited\) for the three months ended July 2, 2016 and ) Tj ET Q BT /F1 11.00 Tf ET 0 0 1 RG /GS0 gs 0.54 w 0 i [] 0 d 1 J 1 j 3 M 101 552.70673828125 m 162.4130859375 552.70673828125 l s q 0 0 1 rg BT 101.00 554.17 Td (June 27, 2015) Tj ET Q BT /F1 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.54 w 0 i [] 0 d 1 J 1 j 3 M 101 534.70673828125 m 293.47314453125 534.70673828125 l s q 0 0 1 rg BT 101.00 536.17 Td (Notes to Consolidated Financial Statements) Tj ET Q BT /F1 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 1.05 w 0 i [] 0 d 1 J 1 j 3 M 77 518.628857421875 m 477.0283203125 518.628857421875 l s q 0 0 1 rg BT 77.00 520.35 Td (Item 2. Management's Discussion and ) Tj ET Q q 0 0 1 rg BT 256.68 520.35 Td (Analysis of Financial Condition and Results of ) Tj ET Q BT /F2 11.00 Tf ET 0 0 1 RG /GS0 gs 1.05 w 0 i [] 0 d 1 J 1 j 3 M 77 507.628857421875 m 129.55615234375 507.628857421875 l s q 0 0 1 rg BT 77.00 509.35 Td (Operations) Tj ET Q BT /F2 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 1.05 w 0 i [] 0 d 1 J 1 j 3 M 77 488.628857421875 m 397.32666015625 488.628857421875 l s q 0 0 1 rg BT 77.00 490.35 Td (Item 3. Quantitative and Qualitative Disclosur) Tj ET Q q 0 0 1 rg BT 294.35 490.35 Td (es ) Tj ET Q q 0 0 1 rg BT 305.66 490.35 Td (About Market Risk) Tj ET Q BT /F2 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 1.05 w 0 i [] 0 d 1 J 1 j 3 M 77 470.628857421875 m 229.46923828125 470.628857421875 l s q 0 0 1 rg BT 77.00 472.35 Td (Item 4. Contr) Tj ET Q q 0 0 1 rg BT 140.65 472.35 Td (ols and Pr) Tj ET Q q 0 0 1 rg BT 188.12 472.35 Td (ocedur) Tj ET Q q 0 0 1 rg BT 220.31 472.35 Td (es) Tj ET Q BT /F2 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 1.05 w 0 i [] 0 d 1 J 1 j 3 M 53 452.628857421875 m 221.90478515625 452.628857421875 l s q 0 0 1 rg BT 53.00 454.35 Td (P) Tj ET Q q 0 0 1 rg BT 58.90 454.35 Td (AR) Tj ET Q q 0 0 1 rg BT 74.40 454.35 Td (T) Tj ET Q q 0 0 1 rg BT 81.54 454.35 Td ( II. OTHER INFORMA) Tj ET Q q 0 0 1 rg BT 193.79 454.35 Td (TION) Tj ET Q BT /F2 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 1.05 w 0 i [] 0 d 1 J 1 j 3 M 77 436.628857421875 m 198.38671875 436.628857421875 l s q 0 0 1 rg BT 77.00 438.35 Td (Item 1. Legal Pr) Tj ET Q q 0 0 1 rg BT 153.17 438.35 Td (oceedings) Tj ET Q BT /F2 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 1.05 w 0 i [] 0 d 1 J 1 j 3 M 77 418.628857421875 m 180.25927734375 418.628857421875 l s q 0 0 1 rg BT 77.00 420.35 Td (Item 1A. Risk Factors) Tj ET Q BT /F2 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 1.05 w 0 i [] 0 d 1 J 1 j 3 M 77 401.628857421875 m 151.86767578125 401.628857421875 l s q 0 0 1 rg BT 77.00 403.35 Td (Item 6. Exhibits) Tj ET Q BT /F2 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 1.05 w 0 i [] 0 d 1 J 1 j 3 M 53 383.628857421875 m 123.705078125 383.628857421875 l s q 0 0 1 rg BT 53.00 385.35 Td (SIGNA) Tj ET Q q 0 0 1 rg BT 87.03 385.35 Td (TURES) Tj ET Q BT /F2 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 1.05 w 0 i [] 0 d 1 J 1 j 3 M 53 365.628857421875 m 138.07275390625 365.628857421875 l s q 0 0 1 rg BT 53.00 367.35 Td (EXHIBIT) Tj ET Q q 0 0 1 rg BT 99.87 367.35 Td ( INDEX) Tj ET Q BT /F2 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET BT /F1 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.54 w 0 i [] 0 d 1 J 1 j 3 M 553.5 609.70673828125 m 559 609.70673828125 l s q 0 0 1 rg BT 553.50 611.17 Td (1) Tj ET Q BT /F1 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.54 w 0 i [] 0 d 1 J 1 j 3 M 553.5 591.70673828125 m 559 591.70673828125 l s q 0 0 1 rg BT 553.50 593.17 Td (2) Tj ET Q BT /F1 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.54 w 0 i [] 0 d 1 J 1 j 3 M 553.5 563.70673828125 m 559 563.70673828125 l s q 0 0 1 rg BT 553.50 565.17 Td (3) Tj ET Q BT /F1 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.54 w 0 i [] 0 d 1 J 1 j 3 M 553.5 534.70673828125 m 559 534.70673828125 l s q 0 0 1 rg BT 553.50 536.17 Td (4) Tj ET Q BT /F1 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.54 w 0 i [] 0 d 1 J 1 j 3 M 548 518.70673828125 m 559 518.70673828125 l s q 0 0 1 rg BT 548.00 520.17 Td (30) Tj ET Q BT /F1 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.54 w 0 i [] 0 d 1 J 1 j 3 M 548 488.70673828125 m 559 488.70673828125 l s q 0 0 1 rg BT 548.00 490.17 Td (43) Tj ET Q BT /F1 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.54 w 0 i [] 0 d 1 J 1 j 3 M 548 470.70673828125 m 559 470.70673828125 l s q 0 0 1 rg BT 548.00 472.17 Td (44) Tj ET Q BT /F1 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.54 w 0 i [] 0 d 1 J 1 j 3 M 548 436.70673828125 m 559 436.70673828125 l s q 0 0 1 rg BT 548.00 438.17 Td (45) Tj ET Q BT /F1 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.54 w 0 i [] 0 d 1 J 1 j 3 M 548 418.70673828125 m 559 418.70673828125 l s q 0 0 1 rg BT 548.00 420.17 Td (45) Tj ET Q BT /F1 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.54 w 0 i [] 0 d 1 J 1 j 3 M 548 401.70673828125 m 559 401.70673828125 l s q 0 0 1 rg BT 548.00 403.17 Td (45) Tj ET Q BT /F1 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.54 w 0 i [] 0 d 1 J 1 j 3 M 548 383.70673828125 m 559 383.70673828125 l s q 0 0 1 rg BT 548.00 385.17 Td (46) Tj ET Q BT /F1 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.54 w 0 i [] 0 d 1 J 1 j 3 M 548 365.70673828125 m 559 365.70673828125 l s q 0 0 1 rg BT 548.00 367.17 Td (47) Tj ET Q BT /F1 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 7 0 obj <>] /Rotate 0 /Contents 8 0 R>> endobj 8 0 obj <> stream BT /F1 10.00 Tf ET 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 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 31.60 Td (1) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 212.05 741.60 Td (P) Tj ET Q q 0 0 0 rg BT 217.95 741.60 Td (AR) Tj ET Q q 0 0 0 rg BT 233.45 741.60 Td (T) Tj ET Q q 0 0 0 rg BT 240.59 741.60 Td ( 1. FINANCIAL) Tj ET Q q 0 0 0 rg BT 316.07 741.60 Td ( INFORMA) Tj ET Q q 0 0 0 rg BT 371.78 741.60 Td (TION) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 50.00 728.35 Td (Item 1. Financial Statements) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 237.30 715.15 Td (CA) Tj ET Q q 0 0 0 rg BT 251.77 715.15 Td (VCO INDUSTRIES, INC.) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 210.70 701.95 Td (CONSOLIDA) Tj ET Q q 0 0 0 rg BT 276.51 701.95 Td (TED BALANCE SHEETS) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 191.45 688.75 Td (\(Dollars in thousands, except per) Tj ET Q q 0 0 0 rg BT 345.56 688.75 Td ( shar) Tj ET Q q 0 0 0 rg BT 368.89 688.75 Td (e amounts\)) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 635.25 358.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 635.25 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 635.25 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 635.25 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 606.25 358.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 606.25 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 606.25 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 606.25 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 578.25 358.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 578.25 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 578.25 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 578.25 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 550.25 358.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 550.25 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 550.25 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 550.25 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 522.25 358.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 522.25 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 522.25 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 522.25 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 494.25 358.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 494.25 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 494.25 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 494.25 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 466.25 358.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 466.25 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 466.25 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 466.25 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 438.25 358.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 438.25 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 438.25 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 438.25 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 410.25 358.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 410.25 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 410.25 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 410.25 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 382.25 358.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 382.25 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 382.25 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 382.25 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 348.25 358.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 348.25 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 348.25 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 348.25 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 318.25 358.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 318.25 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 318.25 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 318.25 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 290.25 358.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 290.25 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 290.25 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 290.25 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 262.25 358.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 262.25 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 262.25 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 262.25 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 239.25 358.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 239.25 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 239.25 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 239.25 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 197.25 358.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 197.25 75.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 197.25 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 197.25 75.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 156.25 358.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 156.25 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 156.25 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 156.25 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 128.25 358.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 128.25 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 128.25 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 128.25 75.00 -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 408.5 651.25 m 483.5 651.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 651.25 m 562.5 651.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 480.25 m 483.5 480.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 480.25 m 562.5 480.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 466.25 m 483.5 466.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 466.25 m 562.5 466.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 382.25 m 483.5 382.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 369.25 m 483.5 369.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 367.25 m 483.5 367.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 382.25 m 562.5 382.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 369.25 m 562.5 369.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 367.25 m 562.5 367.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 290.25 m 483.5 290.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 276.25 m 483.5 276.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 290.25 m 562.5 290.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 276.25 m 562.5 276.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 128.25 m 483.5 128.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 128.25 m 562.5 128.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 114.25 m 483.5 114.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 114.25 m 562.5 114.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 101.25 m 483.5 101.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 99.25 m 483.5 99.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 101.25 m 562.5 101.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 99.25 m 562.5 99.25 l s BT /F1 11.00 Tf ET q 0 0 0 rg BT 430.80 667.17 Td (July 2,) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 434.50 656.17 Td (2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 507.35 667.17 Td (April 2,) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 513.50 656.17 Td (2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 418.90 640.17 Td (\(Unaudited\)) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 53.00 625.15 Td (ASSETS) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 610.12 Td (Current assets:) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 71.00 596.12 Td (Cash and cash equivalents) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 411.00 596.12 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 443.55 596.12 Td (102,494) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 490.00 596.12 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.05 596.12 Td (97,766) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 71.00 582.12 Td (Restricted cash, current) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.05 582.12 Td (10,133) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.05 582.12 Td (10,218) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 71.00 568.12 Td (Accounts receivable, net) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.05 568.12 Td (28,329) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.05 568.12 Td (29,113) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 71.00 554.12 Td (Short-term investments) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 454.55 554.12 Td (9,419) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.05 554.12 Td (10,140) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 71.00 540.12 Td (Current portion of consumer loans receivable, net) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.05 540.12 Td (22,513) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.05 540.12 Td (21,918) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 71.00 526.12 Td (Current portion of commercial loans receivable, net) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 454.55 526.12 Td (5,037) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 533.55 526.12 Td (3,557) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 71.00 512.12 Td (Inventories) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.05 512.12 Td (94,796) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.05 512.12 Td (94,813) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 71.00 498.12 Td (Prepaid expenses and other current assets) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.05 498.12 Td (23,908) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.05 498.12 Td (22,196) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 71.00 484.12 Td (Deferred income taxes, current) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 454.55 484.12 Td (9,216) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 533.55 484.12 Td (8,998) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 470.12 Td (Total current assets) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 443.55 470.12 Td (305,845) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 522.55 470.12 Td (298,719) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 456.12 Td (Restricted cash) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 454.55 456.12 Td (1,097) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 533.55 456.12 Td (1,082) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 442.12 Td (Investments) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.05 442.12 Td (29,108) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.05 442.12 Td (28,948) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 428.12 Td (Consumer loans receivable, net) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.05 428.12 Td (65,921) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.05 428.12 Td (67,640) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 414.12 Td (Commercial loans receivable, net) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.05 414.12 Td (22,070) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.05 414.12 Td (21,985) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 400.12 Td (Property, plant and equipment, net) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.05 400.12 Td (56,105) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.05 400.12 Td (55,072) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 386.12 Td (Goodwill and other intangibles, net) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.05 386.12 Td (80,297) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.05 386.12 Td (80,389) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 372.12 Td (Total assets) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 411.00 372.12 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 443.55 372.12 Td (560,443) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 490.00 372.12 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 522.55 372.12 Td (553,835) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 53.00 353.15 Td (LIABILITIES AND STOCKHOLDERS' EQUITY) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 337.17 Td (Current liabilities:) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 71.00 322.12 Td (Accounts payable) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 411.00 322.12 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.05 322.12 Td (18,952) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 490.00 322.12 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.05 322.12 Td (18,513) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 71.00 308.12 Td (Accrued liabilities) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 443.55 308.12 Td (102,703) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 522.55 308.12 Td (100,314) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 71.00 294.12 Td (Current portion of securitized financings and other) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 454.55 294.12 Td (5,742) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 533.55 294.12 Td (6,262) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 280.12 Td (Total current liabilities) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 443.55 280.12 Td (127,397) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 522.55 280.12 Td (125,089) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 266.12 Td (Securitized financings and other) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.05 266.12 Td (53,725) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.05 266.12 Td (54,909) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 252.12 Td (Deferred income taxes) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.05 252.12 Td (20,678) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.05 252.12 Td (20,611) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 228.17 Td (Stockholders' equity:) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 71.00 213.12 Td (Preferred 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Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 522.55 146.12 Td (110,186) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 71.00 132.12 Td (Accumulated other comprehensive income) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 454.55 132.12 Td (1,234) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 533.55 132.12 Td (1,289) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 118.12 Td (Total stockholders' equity) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 443.55 118.12 Td (358,643) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 522.55 118.12 Td (353,226) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 104.12 Td (Total liabilities and stockholders' equity) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 411.00 104.12 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 443.55 104.12 Td (560,443) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 490.00 104.12 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 522.55 104.12 Td (553,835) Tj ET Q BT /F1 10.00 Tf ET BT /F1 11.00 Tf ET q 0 0 0 rg BT 167.00 81.55 Td (See accompanying Notes to Consolidated 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revenue) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 411.00 624.22 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 443.55 624.22 Td (185,141) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 490.00 624.22 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 522.55 624.22 Td (161,668) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 608.22 Td (Cost of sales) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 443.55 608.22 Td (151,889) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 522.55 608.22 Td (129,834) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 592.22 Td (Gross profit) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.05 592.22 Td (33,252) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.05 592.22 Td (31,834) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 576.22 Td (Selling, general and administrative expenses) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.05 576.22 Td (24,687) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.05 576.22 Td (22,659) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 560.22 Td (Income from operations) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 454.55 560.22 Td (8,565) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 533.55 560.22 Td (9,175) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 544.22 Td (Interest expense) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 450.85 544.22 Td (\(1,161) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 479.30 544.22 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 529.85 544.22 Td (\(1,015) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 558.30 544.22 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 528.22 Td (Other income, net) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 454.55 528.22 Td (1,026) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 541.80 528.22 Td (472) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 512.22 Td (Income before income taxes) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 454.55 512.22 Td (8,430) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 533.55 512.22 Td (8,632) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 496.22 Td (Income tax expense) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 450.85 496.22 Td (\(2,987) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 479.30 496.22 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 529.85 496.22 Td (\(3,247) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 558.30 496.22 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 480.22 Td (Net income) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 411.00 480.22 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 454.55 480.22 Td (5,443) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 490.00 480.22 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 533.55 480.22 Td (5,385) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 450.22 Td (Comprehensive income:) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 71.00 434.22 Td (Net income) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 411.00 434.22 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 454.55 434.22 Td (5,443) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 490.00 434.22 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 533.55 434.22 Td (5,385) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 71.00 418.22 Td (Unrealized loss on available-for-sale securities, net of tax) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 464.60 418.22 Td (\(55) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 479.30 418.22 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 538.10 418.22 Td (\(409) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 558.30 418.22 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 71.00 402.22 Td (Comprehensive income) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 411.00 402.22 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 454.55 402.22 Td (5,388) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 490.00 402.22 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 533.55 402.22 Td (4,976) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 372.22 Td (Net income per share:) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 71.00 356.22 Td (Basic) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 411.00 356.22 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 460.05 356.22 Td (0.61) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 490.00 356.22 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 539.05 356.22 Td (0.61) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 71.00 340.22 Td (Diluted) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 411.00 340.22 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 460.05 340.22 Td (0.60) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 490.00 340.22 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 539.05 340.22 Td (0.60) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 324.22 Td (Weighted average shares outstanding:) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 71.00 308.22 Td (Basic) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 435.25 308.22 Td (8,937,265) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 514.25 308.22 Td (8,863,648) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 71.00 292.22 Td (Diluted) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 435.25 292.22 Td (9,085,042) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 514.25 292.22 Td (9,020,261) Tj ET Q BT /F1 10.00 Tf ET BT /F1 11.00 Tf ET q 0 0 0 rg BT 167.00 252.40 Td 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126.60000000000002 m 570.5 126.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 124.60000000000002 m 570.5 124.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 430.5 98.60000000000002 m 498.5 98.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 430.5 96.60000000000002 m 498.5 96.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 98.60000000000002 m 570.5 98.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 96.60000000000002 m 570.5 96.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 430.5 84.60000000000002 m 498.5 84.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 430.5 82.60000000000002 m 498.5 82.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 84.60000000000002 m 570.5 84.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 82.60000000000002 m 570.5 82.60000000000002 l s BT /F1 9.50 Tf ET q 0 0 0 rg BT 459.85 686.16 Td (Three Months Ended) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 451.30 671.66 Td (July 2,) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 454.50 662.16 Td (2016) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 520.15 671.66 Td (June 27,) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 526.50 662.16 Td (2015) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 43.00 648.16 Td (OPERATING ACTIVITIES) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 55.00 634.16 Td (Net income) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 433.00 634.16 Td ($) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 473.40 634.16 Td (5,443) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 505.00 634.16 Td ($) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 545.40 634.16 Td (5,385) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 55.00 620.16 Td (Adjustments to reconcile net income to net cash provided by operating activities:) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 73.00 606.16 Td (Depreciation and amortization) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 480.55 606.16 Td (946) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 552.55 606.16 Td (934) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 73.00 592.16 Td (Provision for credit losses) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 485.30 592.16 Td (85) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 552.55 592.16 Td (232) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 73.00 578.16 Td (Deferred income taxes) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 482.10 578.16 Td (\(91) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 494.80 578.16 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 552.55 578.16 Td (418) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 73.00 564.16 Td (Stock-based compensation expense) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 480.55 564.16 Td (370) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 552.55 564.16 Td (331) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 73.00 550.16 Td (Non-cash interest income, net) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 477.35 550.16 Td (\(315) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 494.80 550.16 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 549.35 550.21 Td (\(526) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 566.80 550.16 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 73.00 536.16 Td (Incremental tax benefits from option exercises) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 470.25 536.16 Td (\(1,946) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 494.80 536.16 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 549.35 536.21 Td (\(167) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 566.80 536.16 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 73.00 522.16 Td (Gain on sale of property, plant and equipment including assets held for sale, net) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 482.10 522.16 Td (\(22) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 494.80 522.16 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 554.10 522.21 Td (\(16) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 566.80 522.16 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 73.00 508.16 Td (Gain on sale of loans and investments, net) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 470.25 508.16 Td (\(2,171) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 494.80 508.16 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 542.25 508.16 Td (\(1,536) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 566.80 508.16 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 73.00 494.16 Td (Changes in operating assets and liabilities:) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 97.00 480.16 Td (Restricted cash) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 477.35 480.16 Td (\(296) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 494.80 480.16 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 552.55 480.16 Td (320) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 97.00 466.16 Td (Accounts receivable) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 480.55 466.16 Td (791) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 545.40 466.16 Td (4,162) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 97.00 452.16 Td (Consumer loans receivable originated) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 465.50 452.16 Td (\(25,622) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 494.80 452.16 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 537.50 452.16 Td (\(29,045) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 566.80 452.16 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 97.00 438.16 Td (Principal payments on consumer loans receivable) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 473.40 438.16 Td (3,007) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 545.40 438.16 Td (2,416) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 97.00 424.16 Td (Proceeds from sales of consumer loans) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 468.65 424.16 Td (25,800) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 540.65 424.16 Td (28,491) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 97.00 410.16 Td (Inventories) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 485.30 410.16 Td (17) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 542.25 410.16 Td (\(6,008) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 566.80 410.16 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 97.00 396.16 Td (Prepaid expenses and other current assets) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 470.25 396.16 Td (\(1,176) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 494.80 396.16 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 542.25 396.16 Td (\(2,513) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 566.80 396.16 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 97.00 382.16 Td (Commercial loans receivable) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 470.25 382.16 Td (\(1,572) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 494.80 382.16 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 542.25 382.16 Td (\(4,503) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 566.80 382.16 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 97.00 368.16 Td (Accounts payable and accrued liabilities) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 473.40 368.16 Td (4,953) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 545.40 368.16 Td (5,568) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 55.00 354.16 Td (Net cash provided by operating activities) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 473.40 354.16 Td (8,201) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 545.40 354.16 Td (3,943) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 43.00 340.16 Td (INVESTING ACTIVITIES) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 73.00 326.16 Td (Purchases of property, plant and equipment) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 470.25 326.16 Td (\(1,890) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 494.80 326.16 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 549.35 326.21 Td (\(526) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 566.80 326.16 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 73.00 312.16 Td (Purchase of certain assets and liabilities of Fairmont Homes and Chariot Eagle) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 485.30 312.16 Td () Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 537.50 312.16 Td (\(27,120) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 566.80 312.16 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 73.00 298.16 Td (Proceeds from sale of property, plant and equipment including assets held for sale) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 485.30 298.16 Td (25) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 557.30 298.16 Td (26) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 73.00 284.16 Td (Purchases of investments) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 470.25 284.16 Td (\(2,440) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 494.80 284.16 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 542.25 284.16 Td (\(4,485) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 566.80 284.16 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 73.00 270.16 Td (Proceeds from sale of investments) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 473.40 270.16 Td (3,093) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 545.40 270.16 Td (2,914) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 55.00 256.16 Td (Net cash used in investing activities) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 470.25 256.16 Td (\(1,212) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 494.80 256.16 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 537.50 256.16 Td (\(29,191) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 566.80 256.16 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 43.00 242.16 Td (FINANCING ACTIVITIES) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 73.00 228.16 Td (\(Payments\) Proceeds from exercise of stock options) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 470.25 228.16 Td (\(2,287) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 494.80 228.16 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 557.30 228.16 Td (70) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 73.00 214.16 Td (Incremental tax benefits from exercise of stock options) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 473.40 214.16 Td (1,946) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 552.55 214.16 Td (167) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 73.00 200.16 Td (Proceeds from secured financings and other) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 480.55 200.16 Td (294) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 552.55 200.16 Td (447) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 73.00 186.16 Td (Payments on securitized financings) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 470.25 186.16 Td (\(2,214) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 494.80 186.16 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 542.25 186.16 Td (\(1,817) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 566.80 186.16 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 55.00 172.16 Td (Net cash used in financing activities) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 470.25 172.16 Td (\(2,261) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 494.80 172.16 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 542.25 172.16 Td (\(1,133) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 566.80 172.16 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 43.00 158.16 Td (Net increase \(decrease\) in cash and cash equivalents) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 473.40 158.16 Td (4,728) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 537.50 158.16 Td (\(26,381) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 566.80 158.16 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 43.00 144.16 Td (Cash and cash equivalents at beginning of the period) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 468.65 144.16 Td (97,766) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 540.65 144.16 Td (96,597) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 43.00 130.16 Td (Cash and cash equivalents at end of the period) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 433.00 130.16 Td ($) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 463.90 130.16 Td (102,494) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 505.00 130.16 Td ($) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 540.65 130.16 Td (70,216) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 43.00 116.16 Td (Supplemental disclosures of cash flow information:) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 55.00 102.16 Td (Cash paid during the year for income taxes) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 433.00 102.16 Td ($) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 473.40 102.16 Td (3,734) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 505.00 102.16 Td ($) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 545.40 102.16 Td (3,237) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 55.00 88.16 Td (Cash paid during the year for interest) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 433.00 88.16 Td ($) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 480.55 88.16 Td (904) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 505.00 88.16 Td ($) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 552.55 88.16 Td (978) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.50 Tf ET q 0 0 0 rg BT 173.30 71.50 Td (See accompanying Notes to Consolidated Financial Statements) Tj ET Q endstream endobj 13 0 obj <>] /Rotate 0 /Contents 14 0 R>> endobj 14 0 obj <> stream 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 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 31.60 Td (4) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 237.30 741.60 Td (CA) Tj ET Q q 0 0 0 rg BT 251.77 741.60 Td (VCO INDUSTRIES, INC.) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 162.25 728.40 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 202.09 728.40 Td (T) Tj ET Q q 0 0 0 rg BT 209.23 728.40 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 286.34 728.40 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 373.44 728.40 Td ( ST) Tj ET Q q 0 0 0 rg BT 388.83 728.40 Td (A) Tj ET Q q 0 0 0 rg BT 395.96 728.40 Td (TEMENTS) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 50.00 710.15 Td (1. Basis of Pr) Tj ET Q q 0 0 0 rg BT 111.52 710.15 Td (esentation) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 687.95 Td (The accompanying unaudited Consolidated Financial Statements of Cavco Industries, Inc., and its subsidiaries ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 674.75 Td (\(collectively) Tj ET Q q 0 0 0 rg BT 104.26 674.75 Td (, the "Company" or "Cavco"\), have been prepared pursuant to the rules and regulations of the Securities ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 661.55 Td (and Exchange Commission \("SEC"\) for Quarterly Reports on Form 10-Q and ) Tj ET Q q 0 0 0 rg BT 393.51 661.55 Td (Article 10 of SEC Regulation S-X. ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 648.35 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 104.27 648.35 Td (, certain information and footnote disclosures normally included in financial statements prepared in ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 635.15 Td (accordance with U.S. generally accepted accounting principles \("GAAP"\) have been condensed or omitted pursuant ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 621.95 Td (to such rules and regulations.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 599.75 Td (In the opinion of management, these statements include all of the normal recurring adjustments necessary to ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 586.55 Td (fairly state the Company's Consolidated Financial Statements. Certain prior period amounts have been reclassified ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 573.35 Td (to conform to current period classification. ) Tj ET Q q 0 0 0 rg BT 240.71 573.35 Td (The Company has evaluated subsequent events after the balance sheet ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 560.20 Td (date through the date of the filing of this report with the SEC; there were no disclosable subsequent events. ) Tj ET Q q 0 0 0 rg BT 523.30 560.20 Td (These ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 547.00 Td (Consolidated Financial Statements should be read in conjunction with the audited Consolidated Financial ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 533.80 Td (Statements and the Notes to Consolidated Financial Statements included in the Company's ) Tj ET Q q 0 0 0 rg BT 450.37 533.80 Td (Annual Report on Form ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 520.60 Td (10-K for the year ended ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 157.21 520.60 Td (April 2, 2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 216.18 520.60 Td (, filed with the SEC on ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 319.75 520.60 Td (June21, 2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 381.17 520.60 Td (.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 498.40 Td (The preparation of financial statements in conformity with GAAP) Tj ET Q q 0 0 0 rg BT 357.79 498.40 Td ( requires management to make estimates and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 485.20 Td (assumptions that af) Tj ET Q q 0 0 0 rg BT 134.73 485.20 Td (fect the amounts reported in the Consolidated Financial Statements and the accompanying ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 472.00 Td (Notes. ) Tj ET Q q 0 0 0 rg BT 80.56 472.00 Td (Actual results could dif) Tj ET Q q 0 0 0 rg BT 183.31 472.00 Td (fer from those estimates. ) Tj ET Q q 0 0 0 rg BT 294.60 472.00 Td (The Consolidated Statements of Comprehensive Income and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 458.80 Td (Consolidated Statements of Cash Flows for the interim periods are not necessarily indicative of the results or cash ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 445.60 Td (flows for the full year) Tj ET Q q 0 0 0 rg BT 145.30 445.60 Td (. ) Tj ET Q q 0 0 0 rg BT 150.61 445.60 Td (The Company operates on a 52-53 week fiscal year ending on the Saturday nearest to March ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 432.40 Td (31 of each year) Tj ET Q q 0 0 0 rg BT 116.88 432.40 Td (. Each fiscal quarter consists of 13 weeks, with an occasional fourth quarter extending to 14 weeks, ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 419.20 Td (if necessary) Tj ET Q q 0 0 0 rg BT 101.51 419.20 Td (, for the fiscal year to end on the Saturday nearest to March 31. ) Tj ET Q q 0 0 0 rg BT 381.71 419.20 Td (The Company's current fiscal year will ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 406.00 Td (end on ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 81.78 406.00 Td (April1, 2017) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 140.74 406.00 Td (.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 383.80 Td (The Company operates principally in ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 234.48 383.80 Td (two) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 250.98 383.80 Td ( segments: \(1\) factory-built housing, which includes wholesale and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 370.60 Td (retail systems-built housing operations, and \(2\) financial services, which includes manufactured housing consumer ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 357.40 Td (finance and insurance. ) Tj ET Q q 0 0 0 rg BT 151.20 357.40 Td (The Company designs and builds a wide variety of af) Tj ET Q q 0 0 0 rg BT 385.91 357.40 Td (fordable modular homes, manufactured ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 344.20 Td (homes and park model R) Tj ET Q q 0 0 0 rg BT 159.10 344.20 Td (Vs in ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 185.38 344.20 Td (19) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 196.38 344.20 Td ( factories located throughout the United States, which are sold to a network of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 331.00 Td (independent retailers, through the Company's ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 252.38 331.00 Td (45) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 263.38 331.00 Td ( Company-owned retail stores and to community owners and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 317.80 Td (developers. Our financial services group is comprised of a mortgage subsidiary) Tj ET Q q 0 0 0 rg BT 397.82 317.80 Td (, CountryPlace ) Tj ET Q q 0 0 0 rg BT 465.34 317.80 Td (Acceptance Corp. ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 304.60 Td (\("CountryPlace"\), and an insurance subsidiary) Tj ET Q q 0 0 0 rg BT 252.85 304.60 Td (, Standard Casualty Co. \("Standard Casualty"\). CountryPlace is an ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 291.40 Td (approved Federal National Mortgage ) Tj ET Q q 0 0 0 rg BT 214.95 291.40 Td (Association \("FNMA" or "Fannie Mae"\) and Federal Home Loan Mortgage ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 278.20 Td (Corporation \("FHLMC" or "Freddie Mac"\) seller/servicer) Tj ET Q q 0 0 0 rg BT 303.65 278.20 Td (, and a Government National Mortgage ) Tj ET Q q 0 0 0 rg BT 478.68 278.20 Td (Association ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 265.00 Td (\("GNMA" or "Ginnie Mae"\) mortgage backed securities issuer which of) Tj ET Q q 0 0 0 rg BT 368.03 265.00 Td (fers conforming mortgages, non-) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 251.80 Td (conforming mortgages and chattel loans to purchasers of factory-built and site-built homes. Standard Casualty ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 238.60 Td (provides property and casualty insurance to owners of manufactured homes.) Tj ET Q endstream endobj 15 0 obj <> endobj 16 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 31.60 Td (5) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 68.00 741.40 Td (Recent ) Tj ET Q q 0 0 0 rg BT 100.47 741.40 Td (Accounting Pr) Tj ET Q q 0 0 0 rg BT 163.91 741.40 Td (onouncements. ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 232.34 741.40 Td (In May 2014, the Financial ) Tj ET Q q 0 0 0 rg BT 353.93 741.40 Td (Accounting Standards Board \("F) Tj ET Q q 0 0 0 rg BT 497.22 741.40 Td (ASB"\) issued ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 728.20 Td (Accounting Standards Update No. 2014-09, ) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 245.82 728.20 Td (Revenue fr) Tj ET Q q 0 0 0 rg BT 292.75 728.20 Td (om Contracts with Customers \(T) Tj ET Q q 0 0 0 rg BT 435.37 728.20 Td (opic 606\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 477.22 728.20 Td ( \("ASU 2014-09"\), ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 715.00 Td (which outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 701.80 Td (with customers and supersedes most current revenue recognition guidance, including industry-specific guidance. ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 688.60 Td (The standard requires entities to recognize revenue to depict the transfer of promised goods or services to customers ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 675.40 Td (in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 662.20 Td (services. ) Tj ET Q q 0 0 0 rg BT 90.73 662.20 Td (The new guidance also includes a cohesive set of disclosure requirements intended to provide users of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 649.00 Td (financial statements with comprehensive information about the nature, amount, timing and uncertainty of revenue ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 635.80 Td (and cash flows arising from a company's contracts with customers. In ) Tj ET Q q 0 0 0 rg BT 358.08 635.80 Td (August 2015, the F) Tj ET Q q 0 0 0 rg BT 441.60 635.80 Td (ASB issued ) Tj ET Q q 0 0 0 rg BT 495.39 635.80 Td (ASU 2015-14, ) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 50.00 622.60 Td (Revenue fr) Tj ET Q q 0 0 0 rg BT 96.93 622.60 Td (om Contracts with Customers \(T) Tj ET Q q 0 0 0 rg BT 239.55 622.60 Td (opic 606\): Deferral of the Effective Date) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 418.54 622.60 Td (, which deferred the ef) Tj ET Q q 0 0 0 rg BT 517.60 622.60 Td (fective ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 609.40 Td (date of the new revenue standard. ) Tj ET Q q 0 0 0 rg BT 199.97 609.40 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 254.24 609.40 Td (, the updated standard is ef) Tj ET Q q 0 0 0 rg BT 371.94 609.40 Td (fective for us beginning with the first ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 596.20 Td (quarter of the Company's fiscal year 2019, with early application permitted in fiscal year 2018. ) Tj ET Q q 0 0 0 rg BT 469.96 596.20 Td (The standard allows ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 583.00 Td (for either "full retrospective" adoption, meaning the standard is applied to all of the periods presented, or "modified ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 569.80 Td (retrospective" adoption, meaning the standard is applied only to the most current period presented in the financial ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 556.60 Td (statements. ) Tj ET Q q 0 0 0 rg BT 101.73 556.60 Td (The Company is currently evaluating the ef) Tj ET Q q 0 0 0 rg BT 292.75 556.60 Td (fect ) Tj ET Q q 0 0 0 rg BT 311.38 556.60 Td (ASU 2014-09 will have on the Company's Consolidated ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 543.40 Td (Financial Statements and disclosures.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 517.00 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 517.00 Td (In November 2015, the F) Tj ET Q q 0 0 0 rg BT 196.08 517.00 Td (ASB issued ) Tj ET Q q 0 0 0 rg BT 249.87 517.00 Td (ASU 2015-17, ) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 316.79 517.00 Td (Income T) Tj ET Q q 0 0 0 rg BT 357.02 517.00 Td (axes \(T) Tj ET Q q 0 0 0 rg BT 388.09 517.00 Td (opic 740\): Balance Sheet ) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 50.00 503.80 Td (Classification of Deferr) Tj ET Q q 0 0 0 rg BT 154.09 503.80 Td (ed T) Tj ET Q q 0 0 0 rg BT 172.33 503.80 Td (axes) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 191.88 503.80 Td ( \("ASU 2015-17"\). ) Tj ET Q q 0 0 0 rg BT 277.25 503.80 Td (ASU 2015-17 will be ef) Tj ET Q q 0 0 0 rg BT 382.76 503.80 Td (fective beginning with the Company's ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 490.60 Td (fiscal year 2019 annual report and interim periods thereafter) Tj ET Q q 0 0 0 rg BT 314.06 490.60 Td (, with early adoption permitted. In this update, entities ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 477.40 Td (are required to present all deferred tax liabilities and assets as noncurrent on the balance sheet instead of separating ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 464.20 Td (deferred taxes into current and noncurrent amounts. ) Tj ET Q q 0 0 0 rg BT 280.10 464.20 Td (The standard can be applied either prospectively to all deferred ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 451.00 Td (tax liabilities and assets or retrospectively to all periods presented. ) Tj ET Q q 0 0 0 rg BT 344.17 451.00 Td (As this standard impacts presentation only) Tj ET Q q 0 0 0 rg BT 530.12 451.00 Td (, the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 437.80 Td (adoption of ) Tj ET Q q 0 0 0 rg BT 102.55 437.80 Td (ASU 2015-17 is not expected to have an impact on the Company's financial condition, results of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 424.60 Td (operations or cash flows.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 402.40 Td (In January 2016, the F) Tj ET Q q 0 0 0 rg BT 165.86 402.40 Td (ASB issued ) Tj ET Q q 0 0 0 rg BT 219.65 402.40 Td (ASU 2016-01, ) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 286.57 402.40 Td (Financial Instruments \(Subtopic 825-10\): Recognition and ) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 50.00 389.20 Td (Measur) Tj ET Q q 0 0 0 rg BT 83.20 389.20 Td (ement of Financial ) Tj ET Q q 0 0 0 rg BT 168.84 389.20 Td (Assets and Financial Liabilities) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 308.48 389.20 Td ( \("ASU 2016-01"\). ) Tj ET Q q 0 0 0 rg BT 393.85 389.20 Td (ASU 2016-01 will be ef) Tj ET Q q 0 0 0 rg BT 499.36 389.20 Td (fective ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 376.00 Td (beginning with the first quarter of the Company's fiscal year 2019. ) Tj ET Q q 0 0 0 rg BT 345.04 376.00 Td (The amendments require certain equity ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 362.80 Td (investments to be measured at fair value, with changes in the fair value recognized through net income. ) Tj ET Q q 0 0 0 rg BT 507.06 362.80 Td (The ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 349.60 Td (Company is currently evaluating the ef) Tj ET Q q 0 0 0 rg BT 221.17 349.60 Td (fect ) Tj ET Q q 0 0 0 rg BT 239.79 349.60 Td (ASU 2016-01 will have on the Company's Consolidated Financial ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 336.40 Td (Statements and disclosures.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 314.20 Td (In February 2016, the F) Tj ET Q q 0 0 0 rg BT 171.36 314.20 Td (ASB issued ) Tj ET Q q 0 0 0 rg BT 225.15 314.20 Td (ASU 2016-02, ) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 292.07 314.20 Td (Leases) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 322.02 314.20 Td ( ) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 324.77 314.20 Td (\(T) Tj ET Q q 0 0 0 rg BT 333.54 314.20 Td (opic 842\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 375.39 314.20 Td ( \("ASU 2016-02"\). ) Tj ET Q q 0 0 0 rg BT 460.76 314.20 Td (ASU 2016-02 will be ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 301.00 Td (ef) Tj ET Q q 0 0 0 rg BT 58.35 301.00 Td (fective beginning with the first quarter of the Company's fiscal year 2020, with early adoption permitted. ) Tj ET Q q 0 0 0 rg BT 522.00 301.00 Td (The ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 287.80 Td (amendments require the recognition of lease assets and lease liabilities on the balance sheet for most leases, but ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 274.60 Td (recognize expenses in the income statement in a manner similar to current accounting treatment. In addition, ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 261.40 Td (disclosures of key information about leasing arrangements are required. Upon adoption, leases will be recognized ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 248.20 Td (and measured at the beginning of the earliest period presented using a modified retrospective approach. ) Tj ET Q q 0 0 0 rg BT 507.36 248.20 Td (The ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 235.00 Td (Company is currently evaluating the ef) Tj ET Q q 0 0 0 rg BT 221.17 235.00 Td (fect ) Tj ET Q q 0 0 0 rg BT 239.79 235.00 Td (ASU 2016-02 will have on the Company's Consolidated Financial ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 221.80 Td (Statements and disclosures.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 199.60 Td (In March 2016, the F) Tj ET Q q 0 0 0 rg BT 160.36 199.60 Td (ASB issued ) Tj ET Q q 0 0 0 rg BT 214.15 199.60 Td (ASU 2016-09, ) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 281.07 199.60 Td (Compensation- Stock Compensation) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 441.17 199.60 Td ( ) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 443.92 199.60 Td (\(T) Tj ET Q q 0 0 0 rg BT 452.69 199.60 Td (opic 718\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 494.54 199.60 Td ( \("ASU ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 186.40 Td (2016-09"\). ) Tj ET Q q 0 0 0 rg BT 99.71 186.40 Td (ASU 2016-09 will be ef) Tj ET Q q 0 0 0 rg BT 205.22 186.40 Td (fective beginning with the first quarter of the Company's fiscal year 2018, with ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 173.20 Td (early adoption permitted. ) Tj ET Q q 0 0 0 rg BT 163.43 173.20 Td (The amendment simplifies several aspects of the accounting for share-based payment ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 160.00 Td (transactions, including the income tax consequences, classification of awards as either equity or liabilities, and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 146.80 Td (classification on the statement of cash flows. ) Tj ET Q q 0 0 0 rg BT 249.58 146.80 Td (The Company is currently evaluating the ef) Tj ET Q q 0 0 0 rg BT 440.60 146.80 Td (fect ) Tj ET Q q 0 0 0 rg BT 459.22 146.80 Td (ASU 2016-09 will ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 133.60 Td (have on the Company's Consolidated Financial Statements and disclosures.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 111.40 Td (In June 2016, the F) Tj ET Q q 0 0 0 rg BT 151.82 111.40 Td (ASB issued ) Tj ET Q q 0 0 0 rg BT 205.61 111.40 Td (ASU 2016-13, ) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 272.53 111.40 Td (Financial Instruments - Cr) Tj ET Q q 0 0 0 rg BT 390.36 111.40 Td (edit Losses \(T) Tj ET Q q 0 0 0 rg BT 450.47 111.40 Td (opic 326\): Measur) Tj ET Q q 0 0 0 rg BT 531.93 111.40 Td (ement ) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 50.00 98.20 Td (of Cr) Tj ET Q q 0 0 0 rg BT 72.52 98.20 Td (edit Losses on Financial Instruments) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 235.07 98.20 Td ( \("ASU 2016-13"\). ) Tj ET Q q 0 0 0 rg BT 320.43 98.20 Td (ASU 2016-13 changes the impairment model for most ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 85.00 Td (financial assets and certain other instruments, which requires a new forward-looking impairment model based on ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 71.80 Td (expected losses rather than incurred losses. ) Tj ET Q q 0 0 0 rg BT 241.93 71.80 Td (The guidance also requires increased disclosures. ) Tj ET Q q 0 0 0 rg BT 460.94 71.80 Td (ASU 2016-01 will be ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 58.60 Td (ef) Tj ET Q q 0 0 0 rg BT 58.35 58.60 Td (fective beginning with the first quarter of the Company's fiscal year 2021. ) Tj ET Q q 0 0 0 rg BT 386.06 58.60 Td (The Company is currently evaluating ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 45.40 Td (the ef) Tj ET Q q 0 0 0 rg BT 74.54 45.40 Td (fect ) Tj ET Q q 0 0 0 rg BT 93.16 45.40 Td (ASU 2016-13 will have on the Company's Consolidated Financial Statements and disclosures.) Tj ET Q endstream endobj 17 0 obj <> endobj 18 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 31.60 Td (6) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 741.40 Td (From time to time, new accounting pronouncements are issued by the F) Tj ET Q q 0 0 0 rg BT 382.45 741.40 Td (ASB and other regulatory bodies that ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 728.20 Td (are adopted by the Company as of the specified ef) Tj ET Q q 0 0 0 rg BT 270.03 728.20 Td (fective dates. Unless otherwise discussed, management believes ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 715.00 Td (that the impact of recently issued standards, which are not yet ef) Tj ET Q q 0 0 0 rg BT 332.65 715.00 Td (fective, will not have a material impact on the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 701.80 Td (Company's Consolidated Financial Statements upon adoption.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 679.60 Td (For a description of other significant accounting policies used by the Company in the preparation of its ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 666.40 Td (Consolidated Financial Statements, please refer to Note 1 of the Notes to Consolidated Financial Statements in the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 653.20 Td (Form 10-K.) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 50.00 626.00 Td (2. Restricted Cash) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 603.80 Td (Restricted cash consists of the following \(in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 566.30 358.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 566.30 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 566.30 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 566.30 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 523.30 358.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 523.30 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 523.30 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 523.30 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 491.30 358.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 491.30 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 491.30 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 491.30 75.00 -16.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 566.3 m 483.5 566.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 566.3 m 562.5 566.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 491.3 m 483.5 491.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 491.3 m 562.5 491.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 476.3 m 483.5 476.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 474.3 m 483.5 474.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 476.3 m 562.5 476.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 474.3 m 562.5 474.3 l s BT /F1 11.00 Tf ET q 0 0 0 rg BT 430.80 582.22 Td (July 2,) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 434.50 571.22 Td (2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 507.35 582.22 Td (April 2,) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 513.50 571.22 Td (2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 556.17 Td (Cash related to CountryPlace customer payments to be remitted to third parties) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 411.00 555.22 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 454.55 555.22 Td (8,651) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 490.00 555.22 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 533.55 555.22 Td (8,419) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 540.17 Td (Cash related to CountryPlace customer payments on securitized loans to be) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 529.17 Td (remitted to bondholders) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 454.55 528.22 Td (1,381) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 533.55 528.22 Td (1,747) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 513.17 Td (Cash related to workers' compensation insurance held in trust) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 462.80 512.22 Td (728) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 541.80 512.22 Td (728) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 497.17 Td (Other restricted cash) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 462.80 496.22 Td (470) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 541.80 496.22 Td (406) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 411.00 480.22 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.05 480.22 Td (11,230) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 490.00 480.22 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.05 480.22 Td (11,300) Tj ET Q BT /F1 10.00 Tf ET BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 453.60 Td (Corresponding amounts are recorded in accounts payable and accrued liabilities for customer payments, ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 440.40 Td (deposits and other restricted cash.) Tj ET Q endstream endobj 19 0 obj <>] /Rotate 0 /Contents 20 0 R>> endobj 20 0 obj <> stream 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 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 31.60 Td (7) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 50.00 741.60 Td (3. Investments) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 719.40 Td (Investments consist of the following \(in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 681.90 358.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 681.90 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 681.90 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 681.90 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 649.90 358.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 649.90 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 649.90 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 649.90 75.00 -16.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 681.9 m 483.5 681.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 681.9 m 562.5 681.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 649.9 m 483.5 649.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 649.9 m 562.5 649.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 649.9 m 483.5 649.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 634.9 m 483.5 634.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 632.9 m 483.5 632.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 649.9 m 562.5 649.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 634.9 m 562.5 634.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 632.9 m 562.5 632.9 l s BT /F1 11.00 Tf ET q 0 0 0 rg BT 430.80 697.82 Td (July 2,) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 434.50 686.82 Td (2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 507.35 697.82 Td (April 2,) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 513.50 686.82 Td (2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 671.77 Td (Available-for-sale investment securities) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 411.00 670.82 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.05 670.82 Td (23,763) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 490.00 670.82 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.05 670.82 Td (24,247) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 655.77 Td (Non-marketable equity investments) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.05 654.82 Td (14,764) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.05 654.82 Td (14,841) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 411.00 638.82 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.05 638.82 Td (38,527) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 490.00 638.82 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.05 638.82 Td (39,088) Tj ET Q BT /F1 10.00 Tf ET BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 612.20 Td (The following tables summarize the Company's available-for) Tj ET Q q 0 0 0 rg BT 336.74 612.20 Td (-sale investment securities, gross unrealized gains ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 599.00 Td (and losses and fair value, aggregated by investment category \(in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 534.50 200.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 250.50 534.50 75.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 325.50 534.50 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 329.50 534.50 75.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 534.50 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 534.50 75.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 534.50 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 534.50 75.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 491.50 200.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 250.50 491.50 75.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 325.50 491.50 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 329.50 491.50 75.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 491.50 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 491.50 75.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 491.50 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 491.50 75.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 448.50 200.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 250.50 448.50 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 325.50 448.50 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 329.50 448.50 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 448.50 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 448.50 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 448.50 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 448.50 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 416.50 200.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 250.50 416.50 75.00 -16.00 re f /GS0 gs 0.8 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/GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 250.5 534.5 m 325.5 534.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 329.5 534.5 m 404.5 534.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 534.5 m 483.5 534.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 534.5 m 562.5 534.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 250.5 416.5 m 325.5 416.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 329.5 416.5 m 404.5 416.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 416.5 m 483.5 416.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 416.5 m 562.5 416.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 250.5 401.5 m 325.5 401.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 250.5 399.5 m 325.5 399.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 329.5 401.5 m 404.5 401.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 329.5 399.5 m 404.5 399.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 401.5 m 483.5 401.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 399.5 m 483.5 399.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 401.5 m 562.5 401.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 399.5 m 562.5 399.5 l s BT /F1 11.00 Tf ET q 0 0 0 rg BT 378.95 577.42 Td (July 2, 2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 263.95 550.42 Td (Amortized) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 277.40 539.42 Td (Cost) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 353.65 561.42 Td (Gross) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 342.35 550.42 Td (Unrealized) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 353.65 539.42 Td (Gains) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 432.65 561.42 Td (Gross) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 421.35 550.42 Td (Unrealized) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 430.50 539.42 Td (Losses) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 515.60 550.42 Td (Fair) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 511.95 539.42 Td (V) Tj ET Q q 0 0 0 rg BT 518.67 539.42 Td (alue) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 524.37 Td (U.S. Treasury and government debt) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 62.00 513.37 Td (securities) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 253.00 512.42 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 304.80 512.42 Td (650) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 332.00 512.42 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 394.80 512.42 Td (1) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 411.00 512.42 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 468.30 512.42 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 490.00 512.42 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 541.80 512.42 Td (651) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 497.37 Td (Residential mortgage-backed securities) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 296.55 496.42 Td (5,680) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 389.30 496.42 Td (19) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 464.60 496.42 Td (\(49) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 479.30 496.42 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 533.55 496.42 Td (5,650) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 481.37 Td (State and political subdivision debt) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 62.00 470.37 Td (securities) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 296.55 469.42 Td (7,914) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 383.80 469.42 Td (291) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 464.60 469.42 Td (\(65) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 479.30 469.42 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 533.55 469.42 Td (8,140) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 454.37 Td (Corporate debt securities) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 304.80 453.42 Td (911) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 394.80 453.42 Td (8) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 470.10 453.42 Td (\(3) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 479.30 453.42 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 541.80 453.42 Td (916) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 438.37 Td (Marketable equity securities) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 296.55 437.42 Td (5,619) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 375.55 437.42 Td (2,138) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 459.10 437.42 Td (\(351) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 479.30 437.42 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 533.55 437.42 Td (7,406) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 422.37 Td (Certificates of deposit) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 296.55 421.42 Td (1,000) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 389.30 421.42 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 468.30 421.42 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 533.55 421.42 Td (1,000) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 253.00 405.42 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 291.05 405.42 Td (21,774) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 332.00 405.42 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 375.55 405.42 Td (2,457) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 411.00 405.42 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 459.10 405.42 Td (\(468) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 479.30 405.42 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 490.00 405.42 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.05 405.42 Td (23,763) Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 323.30 200.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 250.50 323.30 75.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 325.50 323.30 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 329.50 323.30 75.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 323.30 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 323.30 75.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 323.30 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 323.30 75.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 280.30 200.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 250.50 280.30 75.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 325.50 280.30 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 329.50 280.30 75.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 280.30 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 280.30 75.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 280.30 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 280.30 75.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 237.30 200.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 250.50 237.30 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 325.50 237.30 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 329.50 237.30 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 237.30 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 237.30 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 237.30 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 237.30 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 205.30 200.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 250.50 205.30 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 325.50 205.30 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 329.50 205.30 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 205.30 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 205.30 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 205.30 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 205.30 75.00 -16.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 250.5 361.29999999999995 m 325.5 361.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 325.5 361.29999999999995 m 329.5 361.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 329.5 361.29999999999995 m 404.5 361.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404.5 361.29999999999995 m 408.5 361.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 361.29999999999995 m 483.5 361.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 361.29999999999995 m 487.5 361.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 361.29999999999995 m 562.5 361.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 250.5 323.29999999999995 m 325.5 323.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 329.5 323.29999999999995 m 404.5 323.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 323.29999999999995 m 483.5 323.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 323.29999999999995 m 562.5 323.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 250.5 205.29999999999995 m 325.5 205.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 329.5 205.29999999999995 m 404.5 205.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 205.29999999999995 m 483.5 205.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 205.29999999999995 m 562.5 205.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 250.5 190.29999999999995 m 325.5 190.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 250.5 188.29999999999995 m 325.5 188.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 329.5 190.29999999999995 m 404.5 190.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 329.5 188.29999999999995 m 404.5 188.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 190.29999999999995 m 483.5 190.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 188.29999999999995 m 483.5 188.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 190.29999999999995 m 562.5 190.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 188.29999999999995 m 562.5 188.29999999999995 l s BT /F1 11.00 Tf ET q 0 0 0 rg BT 376.50 366.22 Td (April 2, 2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 263.95 339.22 Td (Amortized) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 277.40 328.22 Td (Cost) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 353.65 350.22 Td (Gross) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 342.35 339.22 Td (Unrealized) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 353.65 328.22 Td (Gains) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 432.65 350.22 Td (Gross) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 421.35 339.22 Td (Unrealized) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 430.50 328.22 Td (Losses) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 515.60 339.22 Td (Fair) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 511.95 328.22 Td (V) Tj ET Q q 0 0 0 rg BT 518.67 328.22 Td (alue) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 313.17 Td (U.S. Treasury and government debt) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 62.00 302.17 Td (securities) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 253.00 301.22 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 296.55 301.22 Td (1,002) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 332.00 301.22 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 389.30 301.22 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 411.00 301.22 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 470.10 301.22 Td (\(3) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 479.30 301.22 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 490.00 301.22 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 541.80 301.22 Td (999) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 286.17 Td (Residential mortgage-backed securities) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 296.55 285.22 Td (5,866) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 389.30 285.22 Td (13) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 464.60 285.22 Td (\(60) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 479.30 285.22 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 533.55 285.22 Td (5,819) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 270.17 Td (State and political subdivision debt) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 62.00 259.17 Td (securities) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 296.55 258.22 Td (7,231) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 383.80 258.22 Td (239) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 464.60 258.22 Td (\(49) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 479.30 258.22 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 533.55 258.22 Td (7,421) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 243.17 Td (Corporate debt securities) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 296.55 242.22 Td (1,166) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 394.80 242.22 Td (4) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 470.10 242.22 Td (\(6) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 479.30 242.22 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 533.55 242.22 Td (1,164) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 227.17 Td (Marketable equity securities) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 296.55 226.22 Td (5,882) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 375.55 226.22 Td (2,374) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 459.10 226.22 Td (\(412) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 479.30 226.22 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 533.55 226.22 Td (7,844) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 211.17 Td (Certificates of deposit) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 296.55 210.22 Td (1,000) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 389.30 210.22 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 468.30 210.22 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 533.55 210.22 Td (1,000) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 253.00 194.22 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 291.05 194.22 Td (22,147) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 332.00 194.22 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 375.55 194.22 Td (2,630) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 411.00 194.22 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 459.10 194.22 Td (\(530) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 479.30 194.22 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 490.00 194.22 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.05 194.22 Td (24,247) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 21 0 obj <>] /Rotate 0 /Contents 22 0 R>> endobj 22 0 obj <> stream 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 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 31.60 Td (8) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 741.40 Td (The following tables show the gross unrealized losses and fair value, aggregated by investment category and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 728.20 Td (length of time that individual securities have been in a continuous unrealized loss position \(in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 658.70 150.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 200.50 658.70 56.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.50 658.70 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 260.50 658.70 56.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.50 658.70 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 320.50 658.70 56.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 658.70 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 658.70 56.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.50 658.70 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.50 658.70 56.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 658.70 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 658.70 56.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 604.70 150.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 200.50 604.70 56.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.50 604.70 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 260.50 604.70 56.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.50 604.70 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 320.50 604.70 56.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 604.70 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 604.70 56.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.50 604.70 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.50 604.70 56.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 604.70 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 604.70 56.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 572.70 150.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 200.50 572.70 56.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.50 572.70 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 260.50 572.70 56.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.50 572.70 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 320.50 572.70 56.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 572.70 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 572.70 56.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.50 572.70 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.50 572.70 56.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 572.70 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 572.70 56.00 -16.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 200.5 701.7 m 256.5 701.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 200.5 685.7 m 256.5 685.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256.5 701.7 m 260.5 701.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256.5 685.7 m 260.5 685.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 260.5 701.7 m 316.5 701.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 260.5 685.7 m 316.5 685.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316.5 701.7 m 320.5 701.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320.5 701.7 m 376.5 701.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320.5 685.7 m 376.5 685.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376.5 701.7 m 380.5 701.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376.5 685.7 m 380.5 685.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 701.7 m 436.5 701.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 685.7 m 436.5 685.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436.5 701.7 m 440.5 701.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440.5 701.7 m 496.5 701.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440.5 685.7 m 496.5 685.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 701.7 m 500.5 701.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 685.7 m 500.5 685.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500.5 701.7 m 556.5 701.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500.5 685.7 m 556.5 685.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 200.5 658.7 m 256.5 658.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 260.5 658.7 m 316.5 658.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320.5 658.7 m 376.5 658.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 658.7 m 436.5 658.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440.5 658.7 m 496.5 658.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500.5 658.7 m 556.5 658.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 200.5 572.7 m 256.5 572.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 260.5 572.7 m 316.5 572.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320.5 572.7 m 376.5 572.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 572.7 m 436.5 572.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440.5 572.7 m 496.5 572.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500.5 572.7 m 556.5 572.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 200.5 557.7 m 256.5 557.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 200.5 555.7 m 256.5 555.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 260.5 557.7 m 316.5 557.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 260.5 555.7 m 316.5 555.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320.5 557.7 m 376.5 557.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320.5 555.7 m 376.5 555.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 557.7 m 436.5 557.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 555.7 m 436.5 555.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440.5 557.7 m 496.5 557.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440.5 555.7 m 496.5 555.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500.5 557.7 m 556.5 557.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500.5 555.7 m 556.5 555.7 l s BT /F1 11.00 Tf ET q 0 0 0 rg BT 350.95 706.62 Td (July 2, 2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 212.00 690.62 Td (Less than 12 Months) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 331.10 690.62 Td (12MonthsorLonger) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 486.75 690.62 Td (Total) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 219.10 674.62 Td (Fair) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 215.45 663.62 Td (V) Tj ET Q q 0 0 0 rg BT 222.17 663.62 Td (alue) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 263.85 674.62 Td (Unrealized) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 273.00 663.62 Td (Losses) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 339.10 674.62 Td (Fair) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 335.45 663.62 Td (V) Tj ET Q q 0 0 0 rg BT 342.17 663.62 Td (alue) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 383.85 674.62 Td (Unrealized) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 393.00 663.62 Td (Losses) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 459.10 674.62 Td (Fair) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 455.45 663.62 Td (V) Tj ET Q q 0 0 0 rg BT 462.17 663.62 Td (alue) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 503.85 674.62 Td (Unrealized) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 513.00 663.62 Td (Losses) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 648.57 Td (Residential mortgage-backed) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 62.00 637.57 Td (securities) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 203.00 636.62 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 227.50 636.62 Td (3,036) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 263.00 636.62 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 297.60 636.62 Td (\(18) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 312.30 636.62 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 323.00 636.62 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 355.80 636.62 Td (493) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 383.00 636.62 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 417.60 636.62 Td (\(31) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 432.30 636.62 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 443.00 636.62 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 467.50 636.62 Td (3,529) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 503.00 636.62 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 537.60 636.62 Td (\(49) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 552.30 636.62 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 621.57 Td (State and political subdivision) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 62.00 610.57 Td (debt securities) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 227.50 609.62 Td (1,852) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 297.60 609.62 Td (\(29) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 312.30 609.62 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 347.50 609.62 Td (1,734) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 417.60 609.62 Td (\(36) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 432.30 609.62 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 467.50 609.62 Td (3,586) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 537.60 609.62 Td (\(65) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 552.30 609.62 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 594.57 Td (Corporate debt securities) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 241.30 593.62 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 301.30 593.62 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 355.80 593.62 Td (249) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 423.10 593.62 Td (\(3) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 432.30 593.62 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 475.80 593.62 Td (249) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 543.10 593.62 Td (\(3) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 552.30 593.62 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 578.57 Td (Marketable equity securities) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 227.50 577.62 Td (1,792) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 292.10 577.62 Td (\(247) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 312.30 577.62 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 355.80 577.62 Td (184) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 412.10 577.62 Td (\(104) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 432.30 577.62 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 467.50 577.62 Td (1,976) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 532.10 577.62 Td (\(351) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 552.30 577.62 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 203.00 561.62 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 227.50 561.62 Td (6,680) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 263.00 561.62 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 292.10 561.62 Td (\(294) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 312.30 561.62 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 323.00 561.62 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 347.50 561.62 Td (2,660) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 383.00 561.62 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 412.10 561.62 Td (\(174) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 432.30 561.62 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 443.00 561.62 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 467.50 561.62 Td (9,340) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 503.00 561.62 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 532.10 561.62 Td (\(468) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 552.30 561.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 474.50 150.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 200.50 474.50 56.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.50 474.50 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 260.50 474.50 56.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.50 474.50 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 320.50 474.50 56.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 474.50 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 474.50 56.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.50 474.50 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.50 474.50 56.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 474.50 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 474.50 56.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 420.50 150.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 200.50 420.50 56.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.50 420.50 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 260.50 420.50 56.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.50 420.50 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 320.50 420.50 56.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 420.50 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 420.50 56.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.50 420.50 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.50 420.50 56.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 420.50 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 420.50 56.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 377.50 150.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 200.50 377.50 56.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.50 377.50 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 260.50 377.50 56.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.50 377.50 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 320.50 377.50 56.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 377.50 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 377.50 56.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.50 377.50 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.50 377.50 56.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 377.50 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 377.50 56.00 -16.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 200.5 517.5 m 256.5 517.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256.5 517.5 m 260.5 517.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 260.5 517.5 m 316.5 517.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316.5 517.5 m 320.5 517.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320.5 517.5 m 376.5 517.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376.5 517.5 m 380.5 517.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 517.5 m 436.5 517.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436.5 517.5 m 440.5 517.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440.5 517.5 m 496.5 517.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 517.5 m 500.5 517.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500.5 517.5 m 556.5 517.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 200.5 501.5 m 256.5 501.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256.5 501.5 m 260.5 501.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 260.5 501.5 m 316.5 501.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320.5 501.5 m 376.5 501.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376.5 501.5 m 380.5 501.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 501.5 m 436.5 501.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440.5 501.5 m 496.5 501.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 501.5 m 500.5 501.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500.5 501.5 m 556.5 501.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 200.5 474.5 m 256.5 474.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 260.5 474.5 m 316.5 474.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320.5 474.5 m 376.5 474.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 474.5 m 436.5 474.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440.5 474.5 m 496.5 474.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500.5 474.5 m 556.5 474.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 200.5 361.5 m 256.5 361.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 260.5 361.5 m 316.5 361.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320.5 361.5 m 376.5 361.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 361.5 m 436.5 361.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440.5 361.5 m 496.5 361.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500.5 361.5 m 556.5 361.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 200.5 346.5 m 256.5 346.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 200.5 344.5 m 256.5 344.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 260.5 346.5 m 316.5 346.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 260.5 344.5 m 316.5 344.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320.5 346.5 m 376.5 346.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320.5 344.5 m 376.5 344.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 346.5 m 436.5 346.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 344.5 m 436.5 344.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440.5 346.5 m 496.5 346.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440.5 344.5 m 496.5 344.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500.5 346.5 m 556.5 346.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500.5 344.5 m 556.5 344.5 l s BT /F1 11.00 Tf ET q 0 0 0 rg BT 348.50 522.42 Td (April 2, 2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 212.00 506.42 Td (Less than 12 Months) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 331.10 506.42 Td (12MonthsorLonger) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 486.75 506.42 Td (Total) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 219.10 490.42 Td (Fair) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 215.45 479.42 Td (V) Tj ET Q q 0 0 0 rg BT 222.17 479.42 Td (alue) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 263.85 490.42 Td (Unrealized) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 273.00 479.42 Td (Losses) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 339.10 490.42 Td (Fair) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 335.45 479.42 Td (V) Tj ET Q q 0 0 0 rg BT 342.17 479.42 Td (alue) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 383.85 490.42 Td (Unrealized) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 393.00 479.42 Td (Losses) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 459.10 490.42 Td (Fair) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 455.45 479.42 Td (V) Tj ET Q q 0 0 0 rg BT 462.17 479.42 Td (alue) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 503.85 490.42 Td (Unrealized) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 513.00 479.42 Td (Losses) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 464.37 Td (U.S. Treasury and government) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 62.00 453.37 Td (debt securities) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 203.00 452.42 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 241.30 452.42 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 263.00 452.42 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 301.30 452.42 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 323.00 452.42 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 355.80 452.42 Td (699) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 383.00 452.42 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 423.10 452.42 Td (\(3) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 432.30 452.42 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 443.00 452.42 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 475.80 452.42 Td (699) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 503.00 452.42 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 543.10 452.42 Td (\(3) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 552.30 452.42 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 437.37 Td (Residential mortgage-backed) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 62.00 426.37 Td (securities) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 227.50 425.42 Td (3,436) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 297.60 425.42 Td (\(27) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 312.30 425.42 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 355.80 425.42 Td (898) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 417.60 425.42 Td (\(33) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 432.30 425.42 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 467.50 425.42 Td (4,334) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 537.60 425.42 Td (\(60) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 552.30 425.42 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 410.37 Td (State and political subdivision) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 62.00 399.37 Td (debt securities) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 227.50 398.42 Td (1,865) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 297.60 398.42 Td (\(29) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 312.30 398.42 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 347.50 398.42 Td (1,257) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 417.60 398.42 Td (\(20) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 432.30 398.42 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 467.50 398.42 Td (3,122) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 537.60 398.42 Td (\(49) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 552.30 398.42 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 383.37 Td (Corporate debt securities) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 235.80 382.42 Td (763) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 303.10 382.42 Td (\(6) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 312.30 382.42 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 361.30 382.42 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 421.30 382.42 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 475.80 382.42 Td (763) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 543.10 382.42 Td (\(6) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 552.30 382.42 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 367.37 Td (Marketable equity securities) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 227.50 366.42 Td (1,780) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 292.10 366.42 Td (\(324) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 312.30 366.42 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 355.80 366.42 Td (152) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 417.60 366.42 Td (\(88) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 432.30 366.42 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 467.50 366.42 Td (1,932) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 532.10 366.42 Td (\(412) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 552.30 366.42 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 203.00 350.42 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 227.50 350.42 Td (7,844) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 263.00 350.42 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 292.10 350.42 Td (\(386) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 312.30 350.42 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 323.00 350.42 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 347.50 350.42 Td (3,006) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 383.00 350.42 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 412.10 350.42 Td (\(144) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 432.30 350.42 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 443.00 350.42 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 462.00 350.42 Td (10,850) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 503.00 350.42 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 532.10 350.42 Td (\(530) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 552.30 350.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 323.80 Td (Based on the Company's ability and intent to hold the investments for a reasonable period of time suf) Tj ET Q q 0 0 0 rg BT 513.05 323.80 Td (ficient for ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 310.60 Td (a forecasted recovery of fair value, the Company does not consider any investments to be other) Tj ET Q q 0 0 0 rg BT 468.25 310.60 Td (-than-temporarily ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 297.40 Td (impaired at ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 102.53 297.40 Td (July 2, 2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 156.62 297.40 Td (.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 275.20 Td (As of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 94.89 275.20 Td (July 2, 2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 148.97 275.20 Td (, the Company's investments in marketable equity securities consist of investments in ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 262.00 Td (common stock of industrial and other companies \() Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 270.86 262.00 Td ($7.3 million) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 324.65 262.00 Td ( of the total fair value and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 441.02 262.00 Td ($348,000) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 482.27 262.00 Td ( of the total ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 248.80 Td (unrealized losses\) and bank trust, insurance and public utility companies \() Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 375.33 248.80 Td ($100,000) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 416.58 248.80 Td ( of the total fair value and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 235.60 Td ($3,000) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 80.25 235.60 Td ( of the total unrealized losses\).) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 213.40 Td (As of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 94.28 213.40 Td (April 2, 2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 153.25 213.40 Td (, the Company's investments in marketable equity securities consisted of investments in ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 200.20 Td (common stock of industrial and other companies \() Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 270.86 200.20 Td ($7.7 million) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 324.65 200.20 Td ( of the total fair value and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 441.02 200.20 Td ($409,000) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 482.27 200.20 Td ( of the total ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 187.00 Td (unrealized losses\) and bank trust, insurance and public utility companies \() Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 375.33 187.00 Td ($100,000) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 416.58 187.00 Td ( of the total fair value and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 173.80 Td ($3,000) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 80.25 173.80 Td ( of the total unrealized losses\).) Tj ET Q endstream endobj 23 0 obj <>] /Rotate 0 /Contents 24 0 R>> endobj 24 0 obj <> stream 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 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 31.60 Td (9) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 741.40 Td (The amortized cost and fair value of the Company's investments in debt securities, by contractual maturity) Tj ET Q q 0 0 0 rg BT 535.41 741.40 Td (, are ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 728.20 Td (shown in the table below \(in thousands\). Expected maturities dif) Tj ET Q q 0 0 0 rg BT 333.29 728.20 Td (fer from contractual maturities as borrowers may ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 715.00 Td (have the right to call or prepay obligations with or without call or prepayment penalties.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 661.50 358.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 661.50 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 661.50 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 661.50 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 629.50 358.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 629.50 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 629.50 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 629.50 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 597.50 358.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 597.50 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 597.50 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 597.50 75.00 -16.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 688.5 m 483.5 688.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 688.5 m 487.5 688.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 688.5 m 562.5 688.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 661.5 m 483.5 661.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 661.5 m 562.5 661.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 597.5 m 483.5 597.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 582.5 m 483.5 582.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 580.5 m 483.5 580.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 597.5 m 562.5 597.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 582.5 m 562.5 582.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 580.5 m 562.5 580.5 l s BT /F1 11.00 Tf ET q 0 0 0 rg BT 457.95 693.42 Td (July 2, 2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 421.95 677.42 Td (Amortized) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 435.40 666.42 Td (Cost) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 515.60 677.42 Td (Fair) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 511.95 666.42 Td (V) Tj ET Q q 0 0 0 rg BT 518.67 666.42 Td (alue) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 651.37 Td (Due in less than one year) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 411.00 650.42 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 454.55 650.42 Td (1,015) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 490.00 650.42 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 533.55 650.42 Td (1,013) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 635.37 Td (Due after one year through five years) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 454.55 634.42 Td (3,199) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 533.55 634.42 Td (3,216) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 619.37 Td (Due after five years through ten years) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 454.55 618.42 Td (3,680) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 533.55 618.42 Td (3,628) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 603.37 Td (Due after ten years) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 454.55 602.42 Td (7,261) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 533.55 602.42 Td (7,500) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 411.00 586.42 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.05 586.42 Td (15,155) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 490.00 586.42 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.05 586.42 Td (15,357) Tj ET Q BT /F1 10.00 Tf ET BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 559.80 Td (Realized gains and losses from the sale of securities are determined using the specific identification method. ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 546.60 Td (Gross gains realized on the sales of investment securities for the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 335.00 546.60 Td (three months ended July 2, 2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 477.98 546.60 Td ( were ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 533.40 Td (approximately ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 116.28 533.40 Td ($453,000) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 157.53 533.40 Td (. Gross losses realized were approximately ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 348.44 533.40 Td ($149,000) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 389.69 533.40 Td ( for the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 424.21 533.40 Td (three months ended July 2, ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 520.20 Td (2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 72.00 520.20 Td (. Gross gains realized on the sales of investment securities for the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 362.50 520.20 Td (three months ended June 27, 2015) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 512.81 520.20 Td ( were ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 507.00 Td (approximately ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 116.28 507.00 Td ($180,000) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 157.53 507.00 Td (. Gross losses realized were approximately ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 348.44 507.00 Td ($46,000) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 384.19 507.00 Td ( for the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 418.71 507.00 Td (three months ended June 27, ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 493.80 Td (2015) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 72.00 493.80 Td (.) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 50.00 466.60 Td (4. Inventories) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 444.40 Td (Inventories consist of the following \(in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 406.90 358.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 406.90 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 406.90 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 406.90 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 374.90 358.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 374.90 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 374.90 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 374.90 75.00 -16.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 406.9 m 483.5 406.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 406.9 m 562.5 406.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 358.9 m 483.5 358.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 358.9 m 562.5 358.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 343.9 m 483.5 343.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 341.9 m 483.5 341.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 343.9 m 562.5 343.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 341.9 m 562.5 341.9 l s BT /F1 11.00 Tf ET q 0 0 0 rg BT 430.80 422.82 Td (July 2,) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 434.50 411.82 Td (2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 507.35 422.82 Td (April 2,) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 513.50 411.82 Td (2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 396.77 Td (Raw materials) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 411.00 395.82 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.05 395.82 Td (29,403) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 490.00 395.82 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.05 395.82 Td (28,764) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 380.77 Td (Work in process) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.05 379.82 Td (11,079) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.05 379.82 Td (10,755) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 364.77 Td (Finished goods and other) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.05 363.82 Td (54,314) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.05 363.82 Td (55,294) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 411.00 347.82 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.05 347.82 Td (94,796) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 490.00 347.82 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.05 347.82 Td (94,813) Tj ET Q BT /F1 10.00 Tf ET BT /F2 11.00 Tf ET q 0 0 0 rg BT 50.00 316.20 Td (5. Consumer) Tj ET Q q 0 0 0 rg BT 109.69 316.20 Td ( Loans Receivable) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 294.00 Td (The Company acquired consumer loans receivable during the first quarter of fiscal 2012 as part of the Palm ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 280.80 Td (Harbor transaction. ) Tj ET Q q 0 0 0 rg BT 137.05 280.80 Td (Acquired consumer loans receivable held for investment were acquired at fair value and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 267.60 Td (subsequently are accounted for in accordance with ) Tj ET Q q 0 0 0 rg BT 274.49 267.60 Td (Accounting Standards Codification \("ASC"\) 310-30, ) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 509.55 267.60 Td (Loans and ) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 50.00 254.40 Td (Debt Securities ) Tj ET Q q 0 0 0 rg BT 120.06 254.40 Td (Acquir) Tj ET Q q 0 0 0 rg BT 149.59 254.40 Td (ed with Deteriorated Cr) Tj ET Q q 0 0 0 rg BT 255.20 254.40 Td (edit Quality) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 307.44 254.40 Td ( \("ASC 310-30"\). Consumer loans receivable held for ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 241.20 Td (sale are carried at the lower of cost or market and construction advances are carried at the amount advanced less a ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 228.00 Td (valuation allowance. ) Tj ET Q q 0 0 0 rg BT 143.57 228.00 Td (The following table summarizes consumer loans receivable \(in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 190.50 358.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 190.50 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 190.50 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 190.50 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 158.50 358.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 158.50 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 158.50 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 158.50 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 126.50 358.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 126.50 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 126.50 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 126.50 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 94.50 358.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 94.50 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 94.50 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 94.50 75.00 -16.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 190.5 m 483.5 190.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 190.5 m 562.5 190.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 126.5 m 483.5 126.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 126.5 m 562.5 126.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 94.5 m 483.5 94.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 79.5 m 483.5 79.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 77.5 m 483.5 77.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 94.5 m 562.5 94.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 79.5 m 562.5 79.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 77.5 m 562.5 77.5 l s BT /F1 11.00 Tf ET q 0 0 0 rg BT 430.80 206.42 Td (July 2,) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 434.50 195.42 Td (2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 507.35 206.42 Td (April 2,) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 513.50 195.42 Td (2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 180.37 Td (Loans held for investment \(acquired on Palm Harbor Acquisition Date\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 411.00 179.42 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.05 179.42 Td (66,968) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 490.00 179.42 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.05 179.42 Td (68,951) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 164.37 Td (Loans held for investment \(originated after Palm Harbor Acquisition Date\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 454.55 163.42 Td (6,236) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 533.55 163.42 Td (6,120) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 148.37 Td (Loans held for sale) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.05 147.42 Td (10,388) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 533.55 147.42 Td (8,765) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 132.37 Td (Construction advances) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 454.55 131.42 Td (5,685) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 533.55 131.42 Td (6,566) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 116.37 Td (Consumer loans receivable) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.05 115.42 Td (89,277) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.05 115.42 Td (90,402) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 100.37 Td (Deferred financing fees and other, net) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 459.10 99.42 Td (\(843) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 479.30 99.42 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 538.10 99.42 Td (\(844) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 558.30 99.42 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 84.37 Td (Consumer loans receivable, net) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 411.00 83.42 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.05 83.42 Td (88,434) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 490.00 83.42 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.05 83.42 Td (89,558) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 25 0 obj <>] /Rotate 0 /Contents 26 0 R>> endobj 26 0 obj <> stream BT /F1 10.00 Tf ET 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 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (10) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 741.40 Td (As of the date of the Palm Harbor acquisition, management evaluated consumer loans receivable held for ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 728.20 Td (investment by CountryPlace to determine whether there was evidence of deterioration of credit quality and if it was ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 715.00 Td (probable that CountryPlace would be unable to collect all amounts due according to the loans' contractual terms. ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 701.80 Td (The Company also considered expected prepayments and estimated the amount and timing of undiscounted ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 688.60 Td (expected principal, interest and other cash flows. ) Tj ET Q q 0 0 0 rg BT 267.58 688.60 Td (The Company determined the excess of the loan pool's scheduled ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 675.40 Td (contractual principal and contractual interest payments over all cash flows expected as of the date of the Palm ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 662.20 Td (Harbor transaction as an amount that cannot be accreted into interest income \(the non-accretable dif) Tj ET Q q 0 0 0 rg BT 489.00 662.20 Td (ference\). ) Tj ET Q q 0 0 0 rg BT 530.32 662.20 Td (The ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 649.00 Td (cash flow expected to be collected in excess of the carrying value of the acquired loans is accreted into interest ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 635.80 Td (income over the remaining life of the loans \(referred to as accretable yield\). Interest income on consumer loans ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 622.60 Td (receivable is recognized as net revenue.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 569.10 358.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 569.10 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 569.10 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 569.10 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 537.10 358.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 537.10 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 537.10 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 537.10 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 505.10 358.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 505.10 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 505.10 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 505.10 75.00 -16.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 585.1 m 483.5 585.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 585.1 m 562.5 585.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 489.1 m 483.5 489.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 489.1 m 562.5 489.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 474.1 m 483.5 474.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 472.1 m 483.5 472.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 474.1 m 562.5 474.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 472.1 m 562.5 472.1 l s BT /F1 11.00 Tf ET q 0 0 0 rg BT 430.80 601.02 Td (July 2,) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 434.50 590.02 Td (2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 507.35 601.02 Td (April 2,) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 513.50 590.02 Td (2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 453.65 574.02 Td (\(in thousands\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 558.97 Td (Consumer loans receivable held for investment contractual amount) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 411.00 558.02 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 443.55 558.02 Td (161,570) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 490.00 558.02 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 522.55 558.02 Td (166,793) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 542.97 Td (Purchase discount) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 71.00 526.97 Td (Accretable) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 445.35 526.02 Td (\(66,284) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 479.30 526.02 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 524.35 526.02 Td (\(69,053) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 558.30 526.02 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 71.00 510.97 Td (Non-accretable) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 445.35 510.02 Td (\(27,987) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 479.30 510.02 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 524.35 510.02 Td (\(28,536) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 558.30 510.02 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 494.97 Td (Less consumer loans receivable reclassified as other assets) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 459.10 494.02 Td (\(331) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 479.30 494.02 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 538.10 494.02 Td (\(253) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 558.30 494.02 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 478.97 Td (Total acquired consumer loans receivable held for investment, net) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 411.00 478.02 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.05 478.02 Td (66,968) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 490.00 478.02 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.05 478.02 Td (68,951) Tj ET Q BT /F1 10.00 Tf ET BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 455.40 Td (Over the life of the acquired loans, the Company continues to estimate cash flows expected to be collected by ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 442.20 Td (CountryPlace. ) Tj ET Q q 0 0 0 rg BT 114.77 442.20 Td (As of the balance sheet date, the Company evaluates whether the present value of expected cash ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 429.00 Td (flows, determined using the ef) Tj ET Q q 0 0 0 rg BT 183.29 429.00 Td (fective interest rate, has decreased from the value at acquisition and, if so, recognizes ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 415.80 Td (an allowance for loan loss. ) Tj ET Q q 0 0 0 rg BT 170.15 415.80 Td (The present value of any subsequent increase in the loan pool's actual cash flows ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 402.60 Td (expected to be collected is used first to reverse any existing allowance for loan loss. ) Tj ET Q q 0 0 0 rg BT 420.83 402.60 Td (Any remaining increase in cash ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 389.40 Td (flows expected to be collected adjusts the amount of accretable yield recognized on a prospective basis over the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 376.20 Td (loan pool's remaining life. ) Tj ET Q q 0 0 0 rg BT 167.56 376.20 Td (The weighted averages of assumptions used in the calculation of expected cash flows to ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 363.00 Td (be collected are as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 48.50 320.50 358.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 406.50 320.50 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.50 320.50 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 320.50 75.00 -16.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 320.5 m 481.5 320.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485.5 320.5 m 560.5 320.5 l s BT /F1 11.00 Tf ET q 0 0 0 rg BT 428.80 336.42 Td (July 2,) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 432.50 325.42 Td (2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 505.35 336.42 Td (April 2,) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 511.50 325.42 Td (2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 51.00 310.37 Td (Prepayment rate) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 452.55 309.42 Td (13.0) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 471.80 309.42 Td (%) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 531.55 309.42 Td (13.0) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 550.80 309.42 Td (%) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 51.00 294.37 Td (Default rate) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 458.05 293.42 Td (1.0) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 471.80 293.42 Td (%) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 537.05 293.42 Td (1.0) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 550.80 293.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 270.80 Td (Assuming there was a ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 167.59 270.80 Td (1%) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 182.25 270.80 Td ( unfavorable variation from the expected level, for each key assumption, the expected ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 257.60 Td (cash flows for the life of the portfolio, as of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 244.58 257.60 Td (July 2, 2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 298.67 257.60 Td (, would decrease by approximately ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 455.06 257.60 Td ($2.3 million) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 508.84 257.60 Td ( and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 530.22 257.60 Td ($5.8 ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 244.40 Td (million) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 81.78 244.40 Td ( for the expected prepayment rate and expected default rate, respectively) Tj ET Q q 0 0 0 rg BT 400.21 244.40 Td (.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 222.20 Td (The changes in accretable yield on acquired consumer loans receivable held for investment were as follows ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 209.00 Td (\(inthousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 155.50 358.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 155.50 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 155.50 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 155.50 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 123.50 358.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 123.50 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 123.50 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 123.50 75.00 -16.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 182.5 m 483.5 182.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 182.5 m 487.5 182.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 182.5 m 562.5 182.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 155.5 m 483.5 155.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 155.5 m 562.5 155.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 107.5 m 483.5 107.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 92.5 m 483.5 92.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 90.5 m 483.5 90.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 107.5 m 562.5 107.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 92.5 m 562.5 92.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 90.5 m 562.5 90.5 l s BT /F1 11.00 Tf ET q 0 0 0 rg BT 438.55 187.42 Td (Three Months Ended) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 430.80 171.42 Td (July 2,) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 434.50 160.42 Td (2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 506.15 171.42 Td (June 27,) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 513.50 160.42 Td (2015) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 144.42 Td (Balance at the beginning of the period) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 411.00 144.42 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.05 144.42 Td (69,053) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 490.00 144.42 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.05 144.42 Td (73,202) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 128.42 Td (Accretion) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 450.85 128.42 Td (\(2,515) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 479.30 128.42 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 529.85 128.42 Td (\(2,751) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 558.30 128.42 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 112.42 Td (Reclassifications from non-accretable discount) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 459.10 112.42 Td (\(254) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 479.30 112.42 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 538.10 112.42 Td (\(190) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 558.30 112.42 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 96.42 Td (Balance at the end of the period) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 411.00 96.42 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.05 96.42 Td (66,284) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 490.00 96.42 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.05 96.42 Td (70,261) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 27 0 obj <>] /Rotate 0 /Contents 28 0 R>> endobj 28 0 obj <> stream 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 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 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 11.00 Tf ET q 0 0 0 rg BT 68.00 741.40 Td (The consumer loans held for investment have the following characteristics:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 48.50 693.90 358.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 406.50 693.90 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.50 693.90 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 693.90 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 48.50 661.90 358.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 406.50 661.90 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.50 661.90 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 661.90 75.00 -16.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 693.9 m 481.5 693.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485.5 693.9 m 560.5 693.9 l s BT /F1 11.00 Tf ET q 0 0 0 rg BT 428.80 709.82 Td (July 2,) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 432.50 698.82 Td (2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 505.35 709.82 Td (April 2,) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 511.50 698.82 Td (2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 51.00 682.82 Td (Weighted average contractual interest rate) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 452.55 682.82 Td (9.01) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 471.80 682.82 Td (%) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 531.55 682.82 Td (9.05) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 550.80 682.82 Td (%) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 51.00 666.82 Td (Weighted average effective interest rate) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 452.55 666.82 Td (9.31) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 471.80 666.82 Td (%) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 531.55 666.82 Td (9.39) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 550.80 666.82 Td (%) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 51.00 650.82 Td (Weighted average months to maturity) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 461.50 650.82 Td (168) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 540.50 650.82 Td (170) Tj ET Q BT /F1 10.00 Tf ET BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 624.20 Td (The Company's consumer loans receivable balance consists of fixed-rate, fixed-term and fully-amortizing ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 611.00 Td (single-family home loans. ) Tj ET Q q 0 0 0 rg BT 167.11 611.00 Td (These loans are either secured by a manufactured home, excluding the land upon which ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 597.80 Td (the home is located \(chattel property loans and retail installment sale contracts\), or by a combination of the home ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 584.60 Td (and the land upon which the home is located \(real property mortgage loans\). ) Tj ET Q q 0 0 0 rg BT 388.25 584.60 Td (The real property mortgage loans are ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 571.40 Td (primarily for manufactured homes. Combined land and home loans are further disaggregated by the type of loan ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 558.20 Td (documentation: those conforming to the requirements of Government-Sponsored Enterprises \("GSEs"\), and those ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 545.00 Td (that are non-conforming. In most instances, CountryPlace's loans are secured by a first-lien position and are ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 531.80 Td (provided for the consumer purchase of a home. In rare instances, CountryPlace may provide other types of loans in ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 518.60 Td (second-lien or unsecured positions. ) Tj ET Q q 0 0 0 rg BT 207.33 518.60 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 261.60 518.60 Td (, CountryPlace classifies its loans receivable as follows: chattel ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 505.40 Td (loans, conforming mortgages, non-conforming mortgages and other loans.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 483.20 Td (In measuring credit quality within each segment and class, CountryPlace uses commercially available credit ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 470.00 Td (scores \(such as FICO\). ) Tj ET Q q 0 0 0 rg BT 160.70 470.00 Td (At the time of each loan's origination, CountryPlace obtains credit scores from each of the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 456.80 Td (three) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 71.98 456.80 Td ( primary credit bureaus, if available. ) Tj ET Q q 0 0 0 rg BT 234.27 456.80 Td (T) Tj ET Q q 0 0 0 rg BT 240.22 456.80 Td (o evaluate credit quality of individual loans, CountryPlace uses the mid-) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 443.60 Td (point of the available credit scores or) Tj ET Q q 0 0 0 rg BT 212.66 443.60 Td (, if only two scores are available, the Company uses the lower of the two. ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 430.40 Td (CountryPlace does not update credit bureau scores after the time of origination.) Tj ET Q endstream endobj 29 0 obj <>] /Rotate 0 /Contents 30 0 R>> endobj 30 0 obj <> stream 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 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (12) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 741.40 Td (The following table disaggregates CountryPlace's gross consumer loans receivable for each class by portfolio ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 728.20 Td (segment and credit quality indicator as of the time of origination \(in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 631.70 224.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 274.50 631.70 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 278.50 631.70 68.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.50 631.70 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.50 631.70 68.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 631.70 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 631.70 68.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.50 631.70 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.50 631.70 68.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 599.70 84.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 134.50 599.70 68.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 202.50 599.70 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 206.50 599.70 68.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 274.50 599.70 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 278.50 599.70 68.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.50 599.70 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.50 599.70 68.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 599.70 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 599.70 68.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.50 599.70 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.50 599.70 68.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 567.70 84.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 134.50 567.70 68.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 202.50 567.70 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 206.50 567.70 68.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 274.50 567.70 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 278.50 567.70 68.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.50 567.70 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.50 567.70 68.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 567.70 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 567.70 68.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.50 567.70 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.50 567.70 68.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 535.70 84.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 134.50 535.70 68.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 202.50 535.70 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 206.50 535.70 68.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 274.50 535.70 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 278.50 535.70 68.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.50 535.70 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.50 535.70 68.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 535.70 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 535.70 68.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.50 535.70 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.50 535.70 68.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 503.70 84.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 134.50 503.70 68.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 202.50 503.70 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 206.50 503.70 68.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 274.50 503.70 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 278.50 503.70 68.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.50 503.70 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.50 503.70 68.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 503.70 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 503.70 68.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.50 503.70 4.00 -16.00 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0.8 0.9333333333333333 1 rg /GS0 gs 350.50 311.70 68.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 311.70 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 311.70 68.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.50 311.70 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.50 311.70 68.00 -16.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 134.5 685.7 m 202.5 685.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 202.5 685.7 m 206.5 685.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 206.5 685.7 m 274.5 685.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 274.5 685.7 m 278.5 685.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 278.5 685.7 m 346.5 685.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 134.5 647.7 m 202.5 647.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 206.5 647.7 m 274.5 647.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 278.5 647.7 m 346.5 647.7 l s 0 0 0 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RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 422.5 455.7 m 490.5 455.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 455.7 m 562.5 455.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 134.5 359.7 m 202.5 359.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 206.5 359.7 m 274.5 359.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 278.5 359.7 m 346.5 359.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 359.7 m 418.5 359.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 422.5 359.7 m 490.5 359.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 359.7 m 562.5 359.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 134.5 311.7 m 202.5 311.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 206.5 311.7 m 274.5 311.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 278.5 311.7 m 346.5 311.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 311.7 m 418.5 311.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 422.5 311.7 m 490.5 311.7 l s 0 0 0 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/F1 11.00 Tf ET q 0 0 0 rg BT 278.95 706.62 Td (July 2, 2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 156.90 690.62 Td (Consumer Loans Held for Investment) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 353.00 690.62 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 497.00 690.62 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 143.25 663.62 Td (Securitized) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 157.00 652.62 Td (2005) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 215.25 663.62 Td (Securitized) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 229.00 652.62 Td (2007) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 281.45 652.62 Td (Unsecuritized) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 355.55 663.62 Td (Construction) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 362.30 652.62 Td (Advances) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 433.35 674.62 Td (Consumer ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 430.45 663.62 Td (LoansHeld) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 437.50 652.62 Td (For Sale) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 516.75 652.62 Td (Total) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 637.57 Td (Asset Class) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 71.00 621.57 Td (Credit Quality Indicator \(FICO score\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 605.57 Td (Chattel loans) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 71.00 589.57 Td (0-619) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 137.00 588.62 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 181.80 588.62 Td (758) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 209.00 588.62 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 253.80 588.62 Td (515) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 281.00 588.62 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 325.80 588.62 Td (324) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 353.00 588.62 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 403.30 588.62 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 425.00 588.62 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 475.30 588.62 Td (42) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 497.00 588.62 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 533.55 588.62 Td (1,639) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 71.00 573.57 Td (620-719) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 168.05 572.62 Td (12,844) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 245.55 572.62 Td (8,811) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 317.55 572.62 Td (3,795) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 403.30 572.62 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 475.30 572.62 Td (46) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.05 572.62 Td (25,496) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 71.00 557.57 Td (720+) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 168.05 556.62 Td (14,135) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 245.55 556.62 Td (9,055) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 317.55 556.62 Td (2,304) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 403.30 556.62 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 469.80 556.62 Td (754) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.05 556.62 Td (26,248) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 71.00 541.57 Td (Other) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 187.30 540.62 Td (54) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 259.30 540.62 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 325.80 540.62 Td (443) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 403.30 540.62 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 475.30 540.62 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 541.80 540.62 Td (497) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 71.00 525.57 Td (Subtotal) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 168.05 524.62 Td (27,791) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 240.05 524.62 Td (18,381) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 317.55 524.62 Td (6,866) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 403.30 524.62 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 469.80 524.62 Td (842) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.05 524.62 Td (53,880) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 509.57 Td (Conforming mortgages) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 71.00 493.57 Td (0-619) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 187.30 492.62 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 259.30 492.62 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 325.80 492.62 Td (163) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 397.80 492.62 Td (135) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 469.80 492.62 Td (294) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 541.80 492.62 Td (592) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 71.00 477.57 Td (620-719) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 187.30 476.62 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 259.30 476.62 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 317.55 476.62 Td (1,530) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 389.55 476.62 Td (3,781) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 461.55 476.62 Td (6,438) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.05 476.62 Td (11,749) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 71.00 461.57 Td (720+) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 187.30 460.62 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 259.30 460.62 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 325.80 460.62 Td (193) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 389.55 460.62 Td (1,769) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 461.55 460.62 Td (2,814) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 533.55 460.62 Td (4,776) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 71.00 445.57 Td (Subtotal) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 187.30 444.62 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 259.30 444.62 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 317.55 444.62 Td (1,886) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 389.55 444.62 Td (5,685) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 461.55 444.62 Td (9,546) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.05 444.62 Td (17,117) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 429.57 Td (Non-conforming mortgages) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 71.00 413.57 Td (0-619) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 187.30 412.62 Td (87) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 253.80 412.62 Td (578) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 317.55 412.62 Td (1,373) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 403.30 412.62 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 475.30 412.62 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 533.55 412.62 Td (2,038) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 71.00 397.57 Td (620-719) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 173.55 396.62 Td (1,350) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 245.55 396.62 Td (5,242) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 317.55 396.62 Td (3,635) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 403.30 396.62 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 475.30 396.62 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.05 396.62 Td (10,227) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 71.00 381.57 Td (720+) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 173.55 380.62 Td (1,633) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 245.55 380.62 Td (3,348) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 325.80 380.62 Td (714) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 403.30 380.62 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 475.30 380.62 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 533.55 380.62 Td (5,695) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 71.00 365.57 Td (Other) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 187.30 364.62 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 259.30 364.62 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 325.80 364.62 Td (307) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 403.30 364.62 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 475.30 364.62 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 541.80 364.62 Td (307) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 71.00 349.57 Td (Subtotal) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 173.55 348.62 Td (3,070) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 245.55 348.62 Td (9,168) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 317.55 348.62 Td (6,029) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 403.30 348.62 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 475.30 348.62 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.05 348.62 Td (18,267) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 333.57 Td (Other loans) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 71.00 317.57 Td (Subtotal) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 187.30 316.62 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 259.30 316.62 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 331.30 316.62 Td (13) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 403.30 316.62 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 475.30 316.62 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 547.30 316.62 Td (13) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 137.00 300.62 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 168.05 300.62 Td (30,861) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 209.00 300.62 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 240.05 300.62 Td (27,549) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 281.00 300.62 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 312.05 300.62 Td (14,794) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 353.00 300.62 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 389.55 300.62 Td (5,685) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 425.00 300.62 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 456.05 300.62 Td (10,388) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 497.00 300.62 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.05 300.62 Td (89,277) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 31 0 obj <>] /Rotate 0 /Contents 32 0 R>> endobj 32 0 obj <> stream 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 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (13) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 662.50 224.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 274.50 662.50 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 278.50 662.50 68.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.50 662.50 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.50 662.50 68.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 662.50 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 662.50 68.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.50 662.50 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.50 662.50 68.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 630.50 84.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 134.50 630.50 68.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 202.50 630.50 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 206.50 630.50 68.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 274.50 630.50 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 278.50 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gs 0.8 0.9333333333333333 1 rg /GS0 gs 202.50 406.50 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 206.50 406.50 68.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 274.50 406.50 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 278.50 406.50 68.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.50 406.50 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.50 406.50 68.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 406.50 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 406.50 68.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.50 406.50 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.50 406.50 68.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 374.50 84.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 134.50 374.50 68.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 202.50 374.50 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 206.50 374.50 68.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 274.50 374.50 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 278.50 374.50 68.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.50 374.50 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.50 374.50 68.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 374.50 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 374.50 68.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.50 374.50 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.50 374.50 68.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 342.50 84.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 134.50 342.50 68.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 202.50 342.50 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 206.50 342.50 68.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 274.50 342.50 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 278.50 342.50 68.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.50 342.50 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.50 342.50 68.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 342.50 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 342.50 68.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.50 342.50 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.50 342.50 68.00 -16.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 134.5 732.5 m 202.5 732.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 202.5 732.5 m 206.5 732.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 206.5 732.5 m 274.5 732.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 274.5 732.5 m 278.5 732.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 278.5 732.5 m 346.5 732.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 346.5 732.5 m 350.5 732.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 732.5 m 418.5 732.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 732.5 m 422.5 732.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 422.5 732.5 m 490.5 732.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 490.5 732.5 m 494.5 732.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 732.5 m 562.5 732.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 134.5 716.5 m 202.5 716.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 202.5 716.5 m 206.5 716.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 206.5 716.5 m 274.5 716.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 274.5 716.5 m 278.5 716.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 278.5 716.5 m 346.5 716.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 134.5 678.5 m 202.5 678.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 206.5 678.5 m 274.5 678.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 278.5 678.5 m 346.5 678.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 678.5 m 418.5 678.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 422.5 678.5 m 490.5 678.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 678.5 m 562.5 678.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 134.5 566.5 m 202.5 566.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 206.5 566.5 m 274.5 566.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 278.5 566.5 m 346.5 566.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 566.5 m 418.5 566.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 422.5 566.5 m 490.5 566.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 566.5 m 562.5 566.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 134.5 486.5 m 202.5 486.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 206.5 486.5 m 274.5 486.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 278.5 486.5 m 346.5 486.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 486.5 m 418.5 486.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 422.5 486.5 m 490.5 486.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 486.5 m 562.5 486.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 134.5 390.5 m 202.5 390.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 206.5 390.5 m 274.5 390.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 278.5 390.5 m 346.5 390.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 390.5 m 418.5 390.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 422.5 390.5 m 490.5 390.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 390.5 m 562.5 390.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 134.5 342.5 m 202.5 342.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 206.5 342.5 m 274.5 342.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 278.5 342.5 m 346.5 342.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 342.5 m 418.5 342.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 422.5 342.5 m 490.5 342.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 342.5 m 562.5 342.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 134.5 327.5 m 202.5 327.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 134.5 325.5 m 202.5 325.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 206.5 327.5 m 274.5 327.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 206.5 325.5 m 274.5 325.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 278.5 327.5 m 346.5 327.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 278.5 325.5 m 346.5 325.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 327.5 m 418.5 327.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 325.5 m 418.5 325.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 422.5 327.5 m 490.5 327.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 422.5 325.5 m 490.5 325.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 327.5 m 562.5 327.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 325.5 m 562.5 325.5 l s BT /F1 11.00 Tf ET q 0 0 0 rg BT 318.50 737.42 Td (April 2, 2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 721.42 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 156.90 721.42 Td (Consumer Loans Held for Investment) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 353.00 721.42 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 497.00 721.42 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 143.25 694.42 Td (Securitized) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 157.00 683.42 Td (2005) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 215.25 694.42 Td (Securitized) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 229.00 683.42 Td (2007) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 281.45 683.42 Td (Unsecuritized) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 355.55 694.42 Td (Construction) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 362.30 683.42 Td (Advances) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 433.35 705.42 Td (Consumer ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 430.45 694.42 Td (LoansHeld) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 437.50 683.42 Td (For Sale) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 516.75 683.42 Td (Total) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 668.37 Td (Asset Class) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 71.00 652.37 Td (Credit Quality Indicator \(FICO score\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 636.37 Td (Chattel loans) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 71.00 620.37 Td (0-619) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 137.00 619.42 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 181.80 619.42 Td (776) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 209.00 619.42 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 253.80 619.42 Td (543) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 281.00 619.42 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 325.80 619.42 Td (336) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 353.00 619.42 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 403.30 619.42 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 425.00 619.42 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 475.30 619.42 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 497.00 619.42 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 533.55 619.42 Td (1,655) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 71.00 604.37 Td (620-719) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 168.05 603.42 Td (13,139) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 245.55 603.42 Td (9,100) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 317.55 603.42 Td (3,683) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 403.30 603.42 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 475.30 603.42 Td (96) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.05 603.42 Td (26,018) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 71.00 588.37 Td (720+) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 168.05 587.42 Td (14,751) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 245.55 587.42 Td (9,409) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 317.55 587.42 Td (2,324) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 403.30 587.42 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 469.80 587.42 Td (215) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.05 587.42 Td (26,699) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 71.00 572.37 Td (Other) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 187.30 571.42 Td (55) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 259.30 571.42 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 325.80 571.42 Td (447) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 403.30 571.42 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 475.30 571.42 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 541.80 571.42 Td (502) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 71.00 556.37 Td (Subtotal) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 168.05 555.42 Td (28,721) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 240.05 555.42 Td (19,052) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 317.55 555.42 Td (6,790) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 403.30 555.42 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 469.80 555.42 Td (311) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.05 555.42 Td (54,874) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 540.37 Td (Conforming mortgages) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 71.00 524.37 Td (0-619) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 187.30 523.42 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 259.30 523.42 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 325.80 523.42 Td (164) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 403.30 523.42 Td (95) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 469.80 523.42 Td (171) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 541.80 523.42 Td (430) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 71.00 508.37 Td (620-719) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 187.30 507.42 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 259.30 507.42 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 317.55 507.42 Td (1,428) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 389.55 507.42 Td (3,355) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 461.55 507.42 Td (5,847) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.05 507.42 Td (10,630) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 71.00 492.37 Td (720+) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 187.30 491.42 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 259.30 491.42 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 325.80 491.42 Td (320) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 389.55 491.42 Td (3,116) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 461.55 491.42 Td (2,436) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 533.55 491.42 Td (5,872) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 71.00 476.37 Td (Subtotal) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 187.30 475.42 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 259.30 475.42 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 317.55 475.42 Td (1,912) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 389.55 475.42 Td (6,566) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 461.55 475.42 Td (8,454) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.05 475.42 Td (16,932) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 460.37 Td (Non-conforming mortgages) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 71.00 444.37 Td (0-619) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 187.30 443.42 Td (88) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 253.80 443.42 Td (585) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 317.55 443.42 Td (1,392) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 403.30 443.42 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 475.30 443.42 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 533.55 443.42 Td (2,065) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 71.00 428.37 Td (620-719) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 173.55 427.42 Td (1,365) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 245.55 427.42 Td (5,290) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 317.55 427.42 Td (3,664) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 403.30 427.42 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 475.30 427.42 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.05 427.42 Td (10,319) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 71.00 412.37 Td (720+) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 173.55 411.42 Td (1,684) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 245.55 411.42 Td (3,382) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 325.80 411.42 Td (826) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 403.30 411.42 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 475.30 411.42 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 533.55 411.42 Td (5,892) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 71.00 396.37 Td (Other) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 187.30 395.42 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 259.30 395.42 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 325.80 395.42 Td (307) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 403.30 395.42 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 475.30 395.42 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 541.80 395.42 Td (307) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 71.00 380.37 Td (Subtotal) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 173.55 379.42 Td (3,137) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 245.55 379.42 Td (9,257) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 317.55 379.42 Td (6,189) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 403.30 379.42 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 475.30 379.42 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.05 379.42 Td (18,583) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 364.37 Td (Other loans) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 71.00 348.37 Td (Subtotal) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 187.30 347.42 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 259.30 347.42 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 331.30 347.42 Td (13) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 403.30 347.42 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 475.30 347.42 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 547.30 347.42 Td (13) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 137.00 331.42 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 168.05 331.42 Td (31,858) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 209.00 331.42 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 240.05 331.42 Td (28,309) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 281.00 331.42 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 312.05 331.42 Td (14,904) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 353.00 331.42 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 389.55 331.42 Td (6,566) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 425.00 331.42 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 461.55 331.42 Td (8,765) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 497.00 331.42 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.05 331.42 Td (90,402) Tj ET Q BT /F1 10.00 Tf ET BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 292.80 Td (Loan contracts secured by collateral that is geographically concentrated could experience higher rates of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 279.60 Td (delinquencies, default and foreclosure losses than loan contracts secured by collateral that is more geographically ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 266.40 Td (dispersed. ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 96.85 266.40 Td (Thirty-nine percent) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 182.06 266.40 Td ( of the outstanding principal balance of consumer loans receivable portfolio is ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 253.20 Td (concentrated in ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 120.04 253.20 Td (T) Tj ET Q q 0 0 0 rg BT 126.00 253.20 Td (exas) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 145.54 253.20 Td ( and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 166.92 253.20 Td (10%) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 187.09 253.20 Td ( is concentrated in ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 270.17 253.20 Td (Florida) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 301.94 253.20 Td (. Other than ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 356.73 253.20 Td (T) Tj ET Q q 0 0 0 rg BT 362.68 253.20 Td (exas) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 382.22 253.20 Td ( and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 403.61 253.20 Td (Florida) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 435.38 253.20 Td (, ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 440.88 253.20 Td (no) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 451.88 253.20 Td ( other state had ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 240.00 Td (concentrations in excess of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 171.57 240.00 Td (10%) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 191.73 240.00 Td ( of the principal balance of the consumer loans receivable as of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 472.11 240.00 Td (July 2, 2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 526.20 240.00 Td (.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 217.80 Td (Collateral for repossessed loans is acquired through foreclosure or similar proceedings and is recorded at the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 204.60 Td (estimated fair value of the home, less the costs to sell. ) Tj ET Q q 0 0 0 rg BT 289.19 204.60 Td (At repossession, the fair value of the collateral is computed ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 191.40 Td (based on the historical recovery rates of previously char) Tj ET Q q 0 0 0 rg BT 295.99 191.40 Td (ged-of) Tj ET Q q 0 0 0 rg BT 324.50 191.40 Td (f loans; the loan is char) Tj ET Q q 0 0 0 rg BT 426.63 191.40 Td (ged of) Tj ET Q q 0 0 0 rg BT 454.22 191.40 Td (f and the loss is char) Tj ET Q q 0 0 0 rg BT 544.14 191.40 Td (ged ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 178.20 Td (to the allowance for loan losses. On a monthly basis, the fair value of the collateral is adjusted to the lower of the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 165.00 Td (amount recorded at repossession or the estimated sales price less estimated costs to sell, based on current ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 151.80 Td (information. Repossessed homes totaled approximately ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 296.23 151.80 Td ($953,000) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 337.48 151.80 Td ( and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 358.86 151.80 Td ($707,000) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 400.11 151.80 Td ( as of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 426.69 151.80 Td (July 2, 2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 480.77 151.80 Td ( and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 501.55 151.80 Td (April 2, ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 138.60 Td (2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 72.00 138.60 Td (, respectively) Tj ET Q q 0 0 0 rg BT 129.93 138.60 Td (, and are included in prepaid and other assets in the consolidated balance sheet. Foreclosure or ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 125.40 Td (similar proceedings in progress totaled approximately ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 289.49 125.40 Td ($370,000) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 330.74 125.40 Td ( and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 352.12 125.40 Td ($340,000) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 393.37 125.40 Td ( as of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 419.95 125.40 Td (July 2, 2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 474.04 125.40 Td ( and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 494.81 125.40 Td (April 2, 2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 553.78 125.40 Td (, ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 112.20 Td (respectively) Tj ET Q q 0 0 0 rg BT 102.43 112.20 Td (.) Tj ET Q endstream endobj 33 0 obj <>] /Rotate 0 /Contents 34 0 R>> endobj 34 0 obj <> stream BT /F1 10.00 Tf ET 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 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (14) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 50.00 741.60 Td (6. Commer) Tj ET Q q 0 0 0 rg BT 102.34 741.60 Td (cial Loans Receivable and ) Tj ET Q q 0 0 0 rg BT 226.40 741.60 Td (Allowance for) Tj ET Q q 0 0 0 rg BT 291.88 741.60 Td ( Loan Loss) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 719.40 Td (The Company's commercial loans receivable balance consists of two classes: \(i\)direct financing arrangements ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 706.20 Td (for the home product needs of our independent retailers, communities and developers; and \(ii\) amounts loaned by ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 693.00 Td (the Company under participation financing programs.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 670.80 Td (Under the terms of the direct programs, the Company provides funds for the independent retailers, communities ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 657.60 Td (and developers' financed home purchases. ) Tj ET Q q 0 0 0 rg BT 237.49 657.60 Td (The notes are secured by the home as collateral and, in some instances, ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 644.40 Td (other security depending on the circumstances. ) Tj ET Q q 0 0 0 rg BT 259.04 644.40 Td (The other terms of direct arrangements vary depending on the needs ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 631.20 Td (of the borrower and the opportunity for the Company) Tj ET Q q 0 0 0 rg BT 283.90 631.20 Td (.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 609.00 Td (Under the terms of the participation programs, the Company provides loans to independent floor plan lenders, ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 595.80 Td (representing a significant portion of the funds that such financiers then lend to retailers to finance their inventory ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 582.60 Td (purchases. ) Tj ET Q q 0 0 0 rg BT 98.67 582.60 Td (The participation commercial loan receivables are unsecured general obligations of the independent floor ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 569.40 Td (plan lenders.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 547.20 Td (Commercial loans receivables, net, consist of the following by class of financing notes receivable ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 534.00 Td (\(inthousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 496.50 358.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 496.50 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 496.50 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 496.50 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 464.50 358.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 464.50 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 464.50 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 464.50 75.00 -16.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 496.5 m 483.5 496.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 496.5 m 562.5 496.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 448.5 m 483.5 448.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 448.5 m 562.5 448.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 433.5 m 483.5 433.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 431.5 m 483.5 431.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 433.5 m 562.5 433.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 431.5 m 562.5 431.5 l s BT /F1 11.00 Tf ET q 0 0 0 rg BT 430.80 512.42 Td (July 2,) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 434.50 501.42 Td (2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 507.35 512.42 Td (April 2,) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 513.50 501.42 Td (2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 486.37 Td (Direct loans receivable) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 411.00 485.42 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.05 485.42 Td (26,085) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 490.00 485.42 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.05 485.42 Td (24,392) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 470.37 Td (Participation loans receivable) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 454.55 469.42 Td (1,157) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 533.55 469.42 Td (1,278) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 454.37 Td (Allowance for loan loss) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 459.10 453.42 Td (\(135) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 479.30 453.42 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 538.10 453.42 Td (\(128) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 558.30 453.42 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 411.00 437.42 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.05 437.42 Td (27,107) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 490.00 437.42 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.05 437.42 Td (25,542) Tj ET Q BT /F1 10.00 Tf ET BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 410.80 Td (The commercial loans receivable balance has the following characteristics:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 373.30 358.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 373.30 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 373.30 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 373.30 75.00 -16.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 373.3 m 483.5 373.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 373.3 m 562.5 373.3 l s BT /F1 11.00 Tf ET q 0 0 0 rg BT 430.80 389.22 Td (July 2,) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 434.50 378.22 Td (2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 507.35 389.22 Td (April 2,) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 513.50 378.22 Td (2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 362.22 Td (Weighted average contractual interest rate) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 460.05 362.22 Td (6.8) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 473.80 362.22 Td (%) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 539.05 362.22 Td (6.9) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 552.80 362.22 Td (%) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 346.22 Td (Weighted average months to maturity) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 469.00 346.22 Td (10) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 553.50 346.22 Td (9) Tj ET Q BT /F1 10.00 Tf ET BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 319.60 Td (The Company evaluates the potential for loss from its participation loan programs based on the independent ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 306.40 Td (lender's overall financial stability) Tj ET Q q 0 0 0 rg BT 195.74 306.40 Td (, as well as historical experience, and has determined that an applicable allowance ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 293.20 Td (for loan loss was not needed at either ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 216.17 293.20 Td (July 2, 2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 270.26 293.20 Td ( or ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 284.31 293.20 Td (April 2, 2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 343.28 293.20 Td (.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 271.00 Td (W) Tj ET Q q 0 0 0 rg BT 77.94 271.00 Td (ith respect to direct programs with communities and developers, borrower activity is monitored on a regular ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 257.80 Td (basis and contractual arrangements are in place to provide adequate loss mitigation in the event of a default. For ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 244.60 Td (direct programs with independent retailers, the risk of loss is spread over numerous borrowers. Borrower activity is ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 231.40 Td (monitored in conjunction with third-party service providers, where applicable, to estimate the potential for loss on ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 218.20 Td (the related notes receivable, considering potential exposures, including repossession costs, remarketing expenses, ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 205.00 Td (impairment of value and the risk of collateral loss. ) Tj ET Q q 0 0 0 rg BT 274.01 205.00 Td (The Company has historically been able to resell repossessed ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 191.80 Td (unused homes, thereby mitigating loss experience. If a default occurs and collateral is lost, the Company is exposed ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 178.60 Td (to loss of the full value of the home loan. If the Company determines that it is probable that a borrower will default, ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 165.40 Td (a specific reserve is determined and recorded within the estimated allowance for loan loss. ) Tj ET Q q 0 0 0 rg BT 450.23 165.40 Td (The Company recorded ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 152.20 Td (an allowance for loan loss of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 179.51 152.20 Td ($135,000) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 220.76 152.20 Td ( and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 242.15 152.20 Td ($82,000) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 277.90 152.20 Td ( at ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 291.33 152.20 Td (July2, 2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 345.42 152.20 Td ( and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 366.80 152.20 Td (June27, 2015) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 428.22 152.20 Td (, respectively) Tj ET Q q 0 0 0 rg BT 486.14 152.20 Td (. ) Tj ET Q endstream endobj 35 0 obj <>] /Rotate 0 /Contents 36 0 R>> endobj 36 0 obj <> stream 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 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (15) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 741.40 Td (The following table represents changes in the estimated allowance for loan losses, including related additions ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 728.20 Td (and deductions to the allowance for loan loss applicable to the direct programs \(in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 674.70 358.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 674.70 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 674.70 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 674.70 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 642.70 358.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 642.70 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 642.70 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 642.70 75.00 -16.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 701.7 m 483.5 701.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 701.7 m 562.5 701.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 674.7 m 483.5 674.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 674.7 m 562.5 674.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 674.7 m 483.5 674.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 674.7 m 562.5 674.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 626.7 m 483.5 626.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 626.7 m 562.5 626.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 626.7 m 483.5 626.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 611.7 m 483.5 611.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 609.7 m 483.5 609.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 626.7 m 562.5 626.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 611.7 m 562.5 611.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 609.7 m 562.5 609.7 l s BT /F1 11.00 Tf ET q 0 0 0 rg BT 438.55 706.62 Td (Three Months Ended) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 430.80 690.62 Td (July 2,) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 434.50 679.62 Td (2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 506.15 690.62 Td (June 27,) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 513.50 679.62 Td (2015) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 664.57 Td (Balance at beginning of period) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 411.00 663.62 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 462.80 663.62 Td (128) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 490.00 663.62 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 547.30 663.62 Td (73) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 648.12 Td (Provision for inventory finance credit losses) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 473.80 647.62 Td (7) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 552.80 647.62 Td (9) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 632.57 Td (Loans charged off, net of recoveries) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 468.30 631.62 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 547.30 631.62 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 616.57 Td (Balance at end of period) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 411.00 615.62 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 462.80 615.62 Td (135) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 490.00 615.62 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 547.30 615.62 Td (82) Tj ET Q BT /F1 10.00 Tf ET BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 589.00 Td (The following table disaggregates commercial loans receivable and the estimated allowance for loan loss for ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 575.80 Td (each class of financing receivable by evaluation methodology \(in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 522.30 200.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 250.50 522.30 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 325.50 522.30 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 329.50 522.30 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 522.30 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 522.30 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 522.30 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 522.30 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 490.30 200.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 250.50 490.30 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 325.50 490.30 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 329.50 490.30 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 490.30 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 490.30 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 490.30 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 490.30 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 458.30 200.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 250.50 458.30 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 325.50 458.30 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 329.50 458.30 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 458.30 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 458.30 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 458.30 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 458.30 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 426.30 200.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 250.50 426.30 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 325.50 426.30 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 329.50 426.30 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 426.30 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 426.30 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 426.30 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 426.30 75.00 -16.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 250.5 549.3 m 325.5 549.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 325.5 549.3 m 329.5 549.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 329.5 549.3 m 404.5 549.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 549.3 m 483.5 549.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 549.3 m 487.5 549.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 549.3 m 562.5 549.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 250.5 549.3 m 325.5 549.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 250.5 522.3 m 325.5 522.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 325.5 549.3 m 329.5 549.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 329.5 549.3 m 404.5 549.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 329.5 522.3 m 404.5 522.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 549.3 m 483.5 549.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 522.3 m 483.5 522.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 549.3 m 487.5 549.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 549.3 m 562.5 549.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 522.3 m 562.5 522.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 250.5 474.3 m 325.5 474.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 329.5 474.3 m 404.5 474.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 474.3 m 483.5 474.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 474.3 m 562.5 474.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 250.5 459.3 m 325.5 459.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 250.5 457.3 m 325.5 457.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 329.5 459.3 m 404.5 459.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 329.5 457.3 m 404.5 457.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 459.3 m 483.5 459.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 457.3 m 483.5 457.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 459.3 m 562.5 459.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 457.3 m 562.5 457.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 250.5 410.3 m 325.5 410.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 329.5 410.3 m 404.5 410.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 410.3 m 483.5 410.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 410.3 m 562.5 410.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 250.5 395.3 m 325.5 395.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 250.5 393.3 m 325.5 393.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 329.5 395.3 m 404.5 395.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 329.5 393.3 m 404.5 393.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 395.3 m 483.5 395.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 393.3 m 483.5 393.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 395.3 m 562.5 395.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 393.3 m 562.5 393.3 l s BT /F1 11.00 Tf ET q 0 0 0 rg BT 269.85 554.22 Td (DirectCommercial Loans) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 413.50 554.22 Td (ParticipationCommercial Loans) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 272.80 538.22 Td (July 2,) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 276.50 527.22 Td (2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 349.35 538.22 Td (April 2,) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 355.50 527.22 Td (2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 430.80 538.22 Td (July 2,) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 434.50 527.22 Td (2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 507.35 538.22 Td (April 2,) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 513.50 527.22 Td (2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 512.17 Td (Inventory finance notes receivable:) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 496.17 Td (Collectively evaluated for impairment) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 253.00 495.22 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 291.05 495.22 Td (13,485) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 332.00 495.22 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 370.05 495.22 Td (12,761) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 411.00 495.22 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 468.30 495.22 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 490.00 495.22 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 547.30 495.22 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 480.17 Td (Individually evaluated for impairment) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 291.05 479.22 Td (12,600) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 370.05 479.22 Td (11,631) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 454.55 479.22 Td (1,157) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 533.55 479.22 Td (1,278) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 253.00 463.22 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 291.05 463.22 Td (26,085) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 332.00 463.22 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 370.05 463.22 Td (24,392) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 411.00 463.22 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 454.55 463.22 Td (1,157) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 490.00 463.22 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 533.55 463.22 Td (1,278) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 448.17 Td (Allowance for loan loss:) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 432.17 Td (Collectively evaluated for impairment) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 253.00 431.22 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 301.10 431.22 Td (\(135) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 321.30 431.22 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 332.00 431.22 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 380.10 431.22 Td (\(128) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 400.30 431.22 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 411.00 431.22 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 468.30 431.22 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 490.00 431.22 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 547.30 431.22 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 416.17 Td (Individually evaluated for impairment) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 310.30 415.22 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 389.30 415.22 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 468.30 415.22 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 547.30 415.22 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 253.00 399.22 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 301.10 399.22 Td (\(135) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 321.30 399.22 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 332.00 399.22 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 380.10 399.22 Td (\(128) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 400.30 399.22 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 411.00 399.22 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 468.30 399.22 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 490.00 399.22 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 547.30 399.22 Td () Tj ET Q BT /F1 10.00 Tf ET BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 372.60 Td (Loans are subject to regular review and are given management's attention whenever a problem situation appears ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 359.40 Td (to be developing. Loans with indicators of potential performance problems are placed on watch list status and are ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 346.20 Td (subject to additional monitoring and scrutiny) Tj ET Q q 0 0 0 rg BT 246.95 346.20 Td (. Nonperforming status includes loans accounted for on a non-accrual ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 333.00 Td (basis and accruing loans with principal payments past due ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 308.13 333.00 Td (90 days or more) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 379.31 333.00 Td (. ) Tj ET Q q 0 0 0 rg BT 384.61 333.00 Td (The Company's policy is to place loans ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 319.80 Td (on nonaccrual status when interest is past due and remains unpaid ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 342.34 319.80 Td (90 days or more) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 413.52 319.80 Td ( or when there is a clear ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 306.60 Td (indication that the borrower has the inability or unwillingness to meet payments as they become due. ) Tj ET Q q 0 0 0 rg BT 496.11 306.60 Td (The Company ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 293.40 Td (will resume accrual of interest once these factors have been remedied. ) Tj ET Q q 0 0 0 rg BT 360.30 293.40 Td (At ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 374.05 293.40 Td (July2, 2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 428.14 293.40 Td (, there are no commercial ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 280.20 Td (loans that are ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 111.39 280.20 Td (90 days or more) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 182.57 280.20 Td ( past due that are still accruing interest. Payments received on nonaccrual loans are ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 267.00 Td (recorded on a cash basis, first to interest and then to principal. ) Tj ET Q q 0 0 0 rg BT 324.92 267.00 Td (At ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 338.67 267.00 Td (July 2, 2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 392.76 267.00 Td (, the Company was not aware of any ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 253.80 Td (potential problem loans that would have a material ef) Tj ET Q q 0 0 0 rg BT 284.39 253.80 Td (fect on the commercial receivables balance. Char) Tj ET Q q 0 0 0 rg BT 500.72 253.80 Td (ge-of) Tj ET Q q 0 0 0 rg BT 523.73 253.80 Td (fs occur ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 240.60 Td (when it becomes probable that outstanding amounts will not be recovered.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 218.40 Td (The following table disaggregates the Company's inventory finance receivables by class and credit quality ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 205.20 Td (indicator \(in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 151.70 200.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 250.50 151.70 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 325.50 151.70 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 329.50 151.70 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 151.70 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 151.70 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 151.70 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 151.70 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 119.70 200.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 250.50 119.70 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 325.50 119.70 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 329.50 119.70 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 119.70 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 119.70 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 119.70 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 119.70 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 87.70 200.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 250.50 87.70 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 325.50 87.70 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 329.50 87.70 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 87.70 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 87.70 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 87.70 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 87.70 75.00 -16.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 250.5 178.70000000000005 m 325.5 178.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 325.5 178.70000000000005 m 329.5 178.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 329.5 178.70000000000005 m 404.5 178.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 178.70000000000005 m 483.5 178.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 178.70000000000005 m 487.5 178.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 178.70000000000005 m 562.5 178.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 250.5 178.70000000000005 m 325.5 178.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 250.5 151.70000000000005 m 325.5 151.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 325.5 178.70000000000005 m 329.5 178.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 329.5 178.70000000000005 m 404.5 178.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 329.5 151.70000000000005 m 404.5 151.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 178.70000000000005 m 483.5 178.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 151.70000000000005 m 483.5 151.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 178.70000000000005 m 487.5 178.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 178.70000000000005 m 562.5 178.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 151.70000000000005 m 562.5 151.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 250.5 87.70000000000005 m 325.5 87.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 329.5 87.70000000000005 m 404.5 87.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 87.70000000000005 m 483.5 87.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 87.70000000000005 m 562.5 87.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 250.5 72.70000000000005 m 325.5 72.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 250.5 70.70000000000005 m 325.5 70.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 329.5 72.70000000000005 m 404.5 72.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 329.5 70.70000000000005 m 404.5 70.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 72.70000000000005 m 483.5 72.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 70.70000000000005 m 483.5 70.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 72.70000000000005 m 562.5 72.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 70.70000000000005 m 562.5 70.70000000000005 l s BT /F1 11.00 Tf ET q 0 0 0 rg BT 269.85 183.62 Td (DirectCommercial Loans) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 413.50 183.62 Td (ParticipationCommercial Loans) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 272.80 167.62 Td (July 2,) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 276.50 156.62 Td (2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 349.35 167.62 Td (April 2,) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 355.50 156.62 Td (2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 430.80 167.62 Td (July 2,) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 434.50 156.62 Td (2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 507.35 167.62 Td (April 2,) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 513.50 156.62 Td (2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 141.57 Td (Risk profile based on payment activity:) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 125.57 Td (Performing) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 253.00 124.62 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 291.05 124.62 Td (26,085) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 332.00 124.62 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 370.05 124.62 Td (24,392) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 411.00 124.62 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 454.55 124.62 Td (1,157) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 490.00 124.62 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 533.55 124.62 Td (1,278) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 109.57 Td (Watch list) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 310.30 108.62 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 389.30 108.62 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 468.30 108.62 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 547.30 108.62 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 93.57 Td (Nonperforming) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 310.30 92.62 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 389.30 92.62 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 468.30 92.62 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 547.30 92.62 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 253.00 76.62 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 291.05 76.62 Td (26,085) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 332.00 76.62 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 370.05 76.62 Td (24,392) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 411.00 76.62 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 454.55 76.62 Td (1,157) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 490.00 76.62 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 533.55 76.62 Td (1,278) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 37 0 obj <>] /Rotate 0 /Contents 38 0 R>> endobj 38 0 obj <> stream 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 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (16) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 741.40 Td (The Company has concentrations of commercial loans receivable related to factory-built homes located in the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 728.20 Td (following states, measured as a percentage of commercial loans receivables principal balance outstanding:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 690.70 358.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 690.70 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 690.70 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 690.70 75.00 -16.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 690.7 m 483.5 690.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 690.7 m 562.5 690.7 l s BT /F1 11.00 Tf ET q 0 0 0 rg BT 430.80 706.62 Td (July 2,) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 434.50 695.62 Td (2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 507.35 706.62 Td (April 2,) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 513.50 695.62 Td (2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 680.57 Td (Texas) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 454.55 679.62 Td (30.3) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 473.80 679.62 Td (%) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 533.55 679.62 Td (33.2) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 552.80 679.62 Td (%) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 664.57 Td (Arizona) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 454.55 663.62 Td (10.7) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 473.80 663.62 Td (%) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 533.55 663.62 Td (13.3) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 552.80 663.62 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 637.00 Td (The risks created by these concentrations have been considered in the determination of the adequacy of the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 623.80 Td (allowance for loan losses. ) Tj ET Q q 0 0 0 rg BT 166.18 623.80 Td (The Company did not have concentrations in excess of 10% of the principal balance of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 610.60 Td (the commercial loans receivables in any other states as of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 305.35 610.60 Td (July 2, 2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 359.43 610.60 Td ( or ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 373.49 610.60 Td (April 2, 2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 432.46 610.60 Td (, respectively) Tj ET Q q 0 0 0 rg BT 490.39 610.60 Td (. ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 588.40 Td (As of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 94.89 588.40 Td (July 2, 2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 148.97 588.40 Td ( and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 169.75 588.40 Td (April 2, 2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 228.72 588.40 Td (, the Company had concentrations of commercial loans receivable with one ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 575.20 Td (independent third-party and its af) Tj ET Q q 0 0 0 rg BT 196.42 575.20 Td (filiates that equaled) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 285.30 575.20 Td (29.3%) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 313.72 575.20 Td (and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 335.10 575.20 Td (32.0%) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 363.51 575.20 Td ( of the principal balance outstanding, ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 562.00 Td (respectively) Tj ET Q q 0 0 0 rg BT 102.43 562.00 Td (, all of which was secured.) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 50.00 534.80 Td (7. Pr) Tj ET Q q 0 0 0 rg BT 72.40 534.80 Td (operty) Tj ET Q q 0 0 0 rg BT 102.34 534.80 Td (, Plant and Equipment) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 512.60 Td (Property) Tj ET Q q 0 0 0 rg BT 105.17 512.60 Td (, plant and equipment are carried at cost. Depreciation is calculated using the straight-line method over ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 499.40 Td (the estimated useful lives of each asset. Estimated useful lives for significant classes of assets are as follows: \(i\) ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 486.20 Td (buildings and improvements, ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 180.76 486.20 Td (10) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 191.76 486.20 Td ( to ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 205.82 486.20 Td (39) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 216.82 486.20 Td ( years, and \(ii\) machinery and equipment, ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 402.84 486.20 Td (3) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 408.34 486.20 Td ( to ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 422.39 486.20 Td (25) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 433.39 486.20 Td ( years. Repairs and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 473.00 Td (maintenance char) Tj ET Q q 0 0 0 rg BT 127.06 473.00 Td (ges are expensed as incurred. Property) Tj ET Q q 0 0 0 rg BT 295.56 473.00 Td (, plant and equipment consist of the following \(in ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 459.80 Td (thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 422.30 358.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 422.30 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 422.30 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 422.30 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 390.30 358.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 390.30 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 390.30 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 390.30 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 358.30 358.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 358.30 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 358.30 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 358.30 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 326.30 358.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 326.30 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 326.30 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 326.30 75.00 -16.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 422.3 m 483.5 422.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 422.3 m 562.5 422.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 358.3 m 483.5 358.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 358.3 m 562.5 358.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 326.3 m 483.5 326.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 326.3 m 562.5 326.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 311.3 m 483.5 311.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 309.3 m 483.5 309.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 311.3 m 562.5 311.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 309.3 m 562.5 309.3 l s BT /F1 11.00 Tf ET q 0 0 0 rg BT 430.80 438.22 Td (July 2,) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 434.50 427.22 Td (2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 507.35 438.22 Td (April 2,) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 513.50 427.22 Td (2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 412.17 Td (Property, plant and equipment, at cost:) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 71.00 396.17 Td (Land) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 411.00 395.22 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.05 395.22 Td (22,719) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 490.00 395.22 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.05 395.22 Td (22,719) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 71.00 380.17 Td (Buildings and improvements) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.05 379.22 Td (33,187) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.05 379.22 Td (32,230) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 71.00 364.17 Td (Machinery and equipment) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.05 363.22 Td (20,397) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.05 363.22 Td (19,533) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.05 347.22 Td (76,303) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.05 347.22 Td (74,482) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 332.17 Td (Accumulated depreciation) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 445.35 331.22 Td (\(20,198) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 479.30 331.22 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 524.35 331.22 Td (\(19,410) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 558.30 331.22 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 316.17 Td (Property, plant and equipment, net) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 411.00 315.22 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.05 315.22 Td (56,105) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 490.00 315.22 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.05 315.22 Td (55,072) Tj ET Q BT /F1 10.00 Tf ET BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 288.60 Td (Included in the amounts above are certain assets under a capital lease. See Note ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 420.77 288.60 Td (8) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 426.27 288.60 Td ( for additional information.) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 50.00 261.40 Td (8. Capital Leases) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 239.20 Td (On May 1, 2015, in connection with the purchase of Fairmont Homes, the Company entered into a five-year ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 226.00 Td (lease covering the manufacturing facilities and land in Montevideo, Minnesota, which is accounted for as a capital ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 212.80 Td (lease. ) Tj ET Q q 0 0 0 rg BT 76.88 212.80 Td (At the end of the lease term, the landlord has the option to require the Company to purchase the leased ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 199.60 Td (premises at a specified price. If the landlord does not exercise this option, the Company may purchase the facilities ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 186.40 Td (at the termination of the lease for that price. ) Tj ET Q q 0 0 0 rg BT 245.28 186.40 Td (The following amounts were recorded for the leased assets as of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 530.26 186.40 Td (July 2, ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 173.20 Td (2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 72.00 173.20 Td ( and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 92.78 173.20 Td (April 2, 2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 151.74 173.20 Td ( \(in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 135.70 358.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 135.70 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 135.70 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 135.70 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 103.70 358.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 103.70 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 103.70 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 103.70 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 71.70 358.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 71.70 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 71.70 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 71.70 75.00 -16.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 135.70000000000005 m 483.5 135.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 135.70000000000005 m 487.5 135.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 135.70000000000005 m 562.5 135.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 135.70000000000005 m 483.5 135.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 135.70000000000005 m 487.5 135.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 135.70000000000005 m 562.5 135.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 103.70000000000005 m 483.5 103.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 103.70000000000005 m 487.5 103.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 103.70000000000005 m 562.5 103.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 71.70000000000005 m 483.5 71.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 71.70000000000005 m 487.5 71.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 71.70000000000005 m 562.5 71.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 56.700000000000045 m 483.5 56.700000000000045 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 54.700000000000045 m 483.5 54.700000000000045 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 56.700000000000045 m 487.5 56.700000000000045 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 54.700000000000045 m 487.5 54.700000000000045 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 56.700000000000045 m 562.5 56.700000000000045 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 54.700000000000045 m 562.5 54.700000000000045 l s BT /F1 11.00 Tf ET q 0 0 0 rg BT 430.80 151.62 Td (July 2,) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 434.50 140.62 Td (2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 507.35 151.62 Td (April 2,) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 513.50 140.62 Td (2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 125.57 Td (Land) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 411.00 124.62 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 462.80 124.62 Td (240) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 490.00 124.62 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 541.80 124.62 Td (240) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 109.57 Td (Buildings and improvements) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 454.55 108.62 Td (2,960) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 533.55 108.62 Td (2,960) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 454.55 92.62 Td (3,200) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 533.55 92.62 Td (3,200) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 77.57 Td (Accumulated amortization) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 459.10 76.62 Td (\(115) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 479.30 76.62 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 543.60 76.62 Td (\(90) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 558.30 76.62 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 61.57 Td (Leased assets, net) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 411.00 60.62 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 454.55 60.62 Td (3,085) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 490.00 60.62 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 533.55 60.62 Td (3,110) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 39 0 obj <>] /Rotate 0 /Contents 40 0 R>> endobj 40 0 obj <> stream 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 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (17) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 741.40 Td (The minimum payments in future fiscal years under the lease as of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 363.68 741.40 Td (July 2, 2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 417.77 741.40 Td ( are as follows \(in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 730.90 439.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 730.90 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 700.90 439.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 700.90 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 670.90 439.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 670.90 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 655.90 439.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 655.90 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 625.90 439.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 625.90 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 489.5 655.9 m 562.5 655.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 625.9 m 562.5 625.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 611.9 m 562.5 611.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 609.9 m 562.5 609.9 l s BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 720.77 Td (2017) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 492.00 720.77 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 541.80 720.77 Td (216) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 705.77 Td (2018) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 541.80 705.77 Td (277) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 690.77 Td (2019) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 541.80 690.77 Td (265) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 675.77 Td (2020) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 541.80 675.77 Td (253) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 660.77 Td (2021) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 533.55 660.77 Td (1,721) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 645.77 Td (Total remaining lease payments) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 533.55 645.77 Td (2,732) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 630.77 Td (Less: Amount representing interest) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 538.10 630.77 Td (\(388) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 558.30 630.77 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 615.77 Td (Present value of future minimum lease payments) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 492.00 615.77 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 533.55 615.77 Td (2,344) Tj ET Q BT /F1 10.00 Tf ET BT /F2 11.00 Tf ET q 0 0 0 rg BT 50.00 584.20 Td (9. Goodwill and Other) Tj ET Q q 0 0 0 rg BT 154.92 584.20 Td ( Intangibles) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 562.00 Td (Intangible assets principally consist of goodwill, trademarks and trade names, state insurance licenses, customer ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 548.80 Td (relationships, and other) Tj ET Q q 0 0 0 rg BT 152.51 548.80 Td (, which includes technology) Tj ET Q q 0 0 0 rg BT 275.21 548.80 Td (, insurance policies and renewal rights and other) Tj ET Q q 0 0 0 rg BT 487.20 548.80 Td (. Goodwill, ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 535.60 Td (trademarks and trade names and state insurance licenses are indefinite-lived intangible assets and are evaluated for ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 522.40 Td (impairment annually and whenever events or circumstances indicate that more likely than not impairment has ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 509.20 Td (occurred. During the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 144.07 509.20 Td (three months) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 201.20 509.20 Td ( ended ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 232.97 509.20 Td (July 2, 2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 287.05 509.20 Td ( and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 308.44 509.20 Td (June 27, 2015) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 369.85 509.20 Td (, ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 375.35 509.20 Td (no) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 386.35 509.20 Td ( impairment expense was recorded. ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 496.00 Td (Finite-lived intangibles are amortized over their estimated useful lives on a straight-line basis and are reviewed for ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 482.80 Td (possible impairment whenever events or changes in circumstances indicate that carrying amounts may not be ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 469.60 Td (recoverable. ) Tj ET Q q 0 0 0 rg BT 106.60 469.60 Td (The value of customer relationships is amortized over ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 346.08 469.60 Td (4) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 351.58 469.60 Td ( to ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 365.63 469.60 Td (15) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 376.63 469.60 Td ( years and other intangibles over ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 522.64 469.60 Td (7) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.14 469.60 Td ( to ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 542.20 469.60 Td (15) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 553.20 469.60 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 456.40 Td (years.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 434.20 Td (Goodwill and other intangibles consist of the following \(in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 369.70 126.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 176.50 369.70 59.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 235.50 369.70 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 239.50 369.70 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 304.50 369.70 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 308.50 369.70 59.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 367.50 369.70 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.50 369.70 59.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 430.50 369.70 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.50 369.70 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.50 369.70 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 369.70 59.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 337.70 126.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 176.50 337.70 59.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 235.50 337.70 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 239.50 337.70 65.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 304.50 337.70 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 308.50 337.70 59.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 367.50 337.70 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.50 337.70 59.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 430.50 337.70 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.50 337.70 65.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.50 337.70 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 337.70 59.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 283.70 126.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 176.50 283.70 59.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 235.50 283.70 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 239.50 283.70 65.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 304.50 283.70 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 308.50 283.70 59.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 367.50 283.70 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.50 283.70 59.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 430.50 283.70 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.50 283.70 65.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.50 283.70 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 283.70 59.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 240.70 126.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 176.50 240.70 59.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 235.50 240.70 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 239.50 240.70 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 304.50 240.70 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 308.50 240.70 59.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 367.50 240.70 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.50 240.70 59.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 430.50 240.70 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.50 240.70 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.50 240.70 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 240.70 59.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 208.70 126.00 -38.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 176.50 208.70 59.00 -38.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 235.50 208.70 4.00 -38.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 239.50 208.70 65.00 -38.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 304.50 208.70 4.00 -38.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 308.50 208.70 59.00 -38.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 367.50 208.70 4.00 -38.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.50 208.70 59.00 -38.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 430.50 208.70 4.00 -38.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.50 208.70 65.00 -38.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.50 208.70 4.00 -38.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 208.70 59.00 -38.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 176.5 407.70000000000005 m 235.5 407.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 235.5 407.70000000000005 m 239.5 407.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 239.5 407.70000000000005 m 304.5 407.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 407.70000000000005 m 308.5 407.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 308.5 407.70000000000005 m 367.5 407.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 371.5 407.70000000000005 m 430.5 407.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 430.5 407.70000000000005 m 434.5 407.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434.5 407.70000000000005 m 499.5 407.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499.5 407.70000000000005 m 503.5 407.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 407.70000000000005 m 562.5 407.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 176.5 369.70000000000005 m 235.5 369.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 239.5 369.70000000000005 m 304.5 369.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 308.5 369.70000000000005 m 367.5 369.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 371.5 369.70000000000005 m 430.5 369.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434.5 369.70000000000005 m 499.5 369.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 369.70000000000005 m 562.5 369.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 176.5 283.70000000000005 m 235.5 283.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 239.5 283.70000000000005 m 304.5 283.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 308.5 283.70000000000005 m 367.5 283.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 371.5 283.70000000000005 m 430.5 283.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434.5 283.70000000000005 m 499.5 283.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 283.70000000000005 m 562.5 283.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 176.5 208.70000000000005 m 235.5 208.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 239.5 208.70000000000005 m 304.5 208.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 308.5 208.70000000000005 m 367.5 208.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 371.5 208.70000000000005 m 430.5 208.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434.5 208.70000000000005 m 499.5 208.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 208.70000000000005 m 562.5 208.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 176.5 171.70000000000005 m 235.5 171.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 176.5 169.70000000000005 m 235.5 169.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 239.5 171.70000000000005 m 304.5 171.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 239.5 169.70000000000005 m 304.5 169.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 308.5 171.70000000000005 m 367.5 171.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 308.5 169.70000000000005 m 367.5 169.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 371.5 171.70000000000005 m 430.5 171.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 371.5 169.70000000000005 m 430.5 169.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434.5 171.70000000000005 m 499.5 171.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434.5 169.70000000000005 m 499.5 169.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 171.70000000000005 m 562.5 171.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 169.70000000000005 m 562.5 169.70000000000005 l s BT /F1 11.00 Tf ET q 0 0 0 rg BT 244.45 412.62 Td (July 2, 2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 437.00 412.62 Td (April 2, 2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 192.65 396.62 Td (Gross) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 185.90 385.62 Td (Carrying) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 187.45 374.62 Td (Amount) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 242.15 385.62 Td (Accumulated) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 242.15 374.62 Td (Amortization) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 329.55 396.62 Td (Net) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 317.90 385.62 Td (Carrying) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 319.45 374.62 Td (Amount) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 387.65 396.62 Td (Gross) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 380.90 385.62 Td (Carrying) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 382.45 374.62 Td (Amount) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 437.15 385.62 Td (Accumulated) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 437.15 374.62 Td (Amortization) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 524.55 396.62 Td (Net) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 512.90 385.62 Td (Carrying) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 514.45 374.62 Td (Amount) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 359.57 Td (Indefinite lived:) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 71.00 343.57 Td (Goodwill) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 179.00 342.62 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 201.00 342.62 Td (69,753) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 242.00 342.62 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 289.30 342.62 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 311.00 342.62 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 333.00 342.62 Td (69,753) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 374.00 342.62 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 396.00 342.62 Td (69,753) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 437.00 342.62 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 484.30 342.62 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 506.00 342.62 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.00 342.62 Td (69,753) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 71.00 327.57 Td (Trademarks and trade) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 80.00 316.57 Td (names) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 206.50 315.62 Td (7,000) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 289.30 315.62 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 338.50 315.62 Td (7,000) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 401.50 315.62 Td (7,000) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 484.30 315.62 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 533.50 315.62 Td (7,000) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 71.00 300.57 Td (State insurance) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 80.00 289.57 Td (licenses) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 206.50 288.62 Td (1,100) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 289.30 288.62 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 338.50 288.62 Td (1,100) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 401.50 288.62 Td (1,100) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 484.30 288.62 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 533.50 288.62 Td (1,100) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 71.00 273.57 Td (Total indefinite-lived) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 80.00 262.57 Td (intangible assets) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 201.00 261.62 Td (77,853) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 289.30 261.62 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 333.00 261.62 Td (77,853) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 396.00 261.62 Td (77,853) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 484.30 261.62 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.00 261.62 Td (77,853) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 246.57 Td (Finite lived:) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 71.00 230.57 Td (Customer relationships) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 206.50 229.62 Td (7,100) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 271.85 229.62 Td (\(5,383) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 300.30 229.62 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 338.50 229.62 Td (1,717) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 401.50 229.62 Td (7,100) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 466.85 229.62 Td (\(5,329) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 495.30 229.62 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 533.50 229.62 Td (1,771) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 71.00 214.57 Td (Other) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 206.50 213.62 Td (1,384) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 280.10 213.62 Td (\(657) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 300.30 213.62 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 346.80 213.62 Td (727) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 401.50 213.62 Td (1,384) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 475.10 213.62 Td (\(619) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 495.30 213.62 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 541.80 213.62 Td (765) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 71.00 198.57 Td (Total goodwill and) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 80.00 187.57 Td (other intangible) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 80.00 176.57 Td (assets) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 179.00 175.62 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 201.00 175.62 Td (86,337) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 242.00 175.62 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 271.85 175.62 Td (\(6,040) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 300.30 175.62 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 311.00 175.62 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 333.00 175.62 Td (80,297) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 374.00 175.62 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 396.00 175.62 Td (86,337) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 437.00 175.62 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 466.85 175.62 Td (\(5,948) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 495.30 175.62 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 506.00 175.62 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.00 175.62 Td (80,389) Tj ET Q BT /F1 10.00 Tf ET BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 153.00 Td (Amortization expense recognized on intangible assets during the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 355.14 153.00 Td (three months ended July 2, 2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 498.12 153.00 Td ( and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 519.50 153.00 Td (June 27, ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 139.80 Td (2015) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 72.00 139.80 Td ( was ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 94.61 139.80 Td ($92,000) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 130.36 139.80 Td ( and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 151.74 139.80 Td ($189,000) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 192.99 139.80 Td (, respectively) Tj ET Q q 0 0 0 rg BT 250.92 139.80 Td (.) 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11.00 Tf ET q 0 0 0 rg BT 528.05 670.82 Td (15,528) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 654.82 Td (Customer deposits) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.05 654.82 Td (15,736) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.05 654.82 Td (14,039) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 638.82 Td (Salaries, wages and benefits) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.05 638.82 Td (15,702) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.05 638.82 Td (20,675) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 622.82 Td (Estimated warranties) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.05 622.82 Td (13,718) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.05 622.82 Td (13,371) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 606.82 Td (Insurance loss reserves) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 454.55 606.82 Td (7,429) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 533.55 606.82 Td (5,990) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 590.82 Td (Accrued volume rebates) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 454.55 590.82 Td (5,302) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 533.55 590.82 Td (4,647) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 574.82 Td (Accrued insurance) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 454.55 574.82 Td (3,765) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 533.55 574.82 Td (3,969) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 558.82 Td (Company repurchase option on certain loans sold) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 454.55 558.82 Td (3,729) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 533.55 558.82 Td (3,497) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 542.82 Td (Deferred margin) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 454.55 542.82 Td (3,180) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 533.55 542.82 Td (2,823) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 526.82 Td (Capital lease obligation) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 454.55 526.82 Td (2,344) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 533.55 526.82 Td (2,387) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 510.82 Td (Reserve for repurchase commitments) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 454.55 510.82 Td (1,741) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 533.55 510.82 Td (1,660) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 494.82 Td (Accrued taxes) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 454.55 494.82 Td (1,052) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 533.55 494.82 Td (1,282) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 478.82 Td (Other) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.05 478.82 Td (12,077) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.05 478.82 Td (10,446) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 411.00 462.82 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 443.55 462.82 Td (102,703) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 490.00 462.82 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 522.55 462.82 Td (100,314) Tj ET Q BT /F1 10.00 Tf ET BT /F2 11.00 Tf ET q 0 0 0 rg BT 50.00 431.20 Td (1) Tj ET Q q 0 0 0 rg BT 54.89 431.20 Td (1. ) Tj ET Q q 0 0 0 rg BT 65.69 431.20 Td (W) Tj ET Q q 0 0 0 rg BT 76.09 431.20 Td (arranties) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 409.00 Td (Homes are generally warranted against manufacturing defects for a period of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 409.16 409.00 Td (one year) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 446.72 409.00 Td ( commencing at the time ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 395.80 Td (of sale to the retail customer) Tj ET Q q 0 0 0 rg BT 174.32 395.80 Td (. Estimated costs relating to home warranties are recorded at the date of sale. ) Tj ET Q q 0 0 0 rg BT 514.37 395.80 Td (The ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 382.55 Td (Company has recorded a liability for estimated future warranty costs relating to homes sold based upon ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 369.35 Td (management's assessment of historical experience factors, an estimate of the amount of homes in the distribution ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 356.15 Td (channel and current industry trends. ) Tj ET Q q 0 0 0 rg BT 210.06 356.15 Td (Activity in the liability for estimated warranties was as follows \(in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 302.65 358.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 302.65 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 302.65 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 302.65 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 270.65 358.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 270.65 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 270.65 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 270.65 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 238.65 358.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 238.65 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 238.65 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 238.65 75.00 -16.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 329.65 m 483.5 329.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 329.65 m 487.5 329.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 329.65 m 562.5 329.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 302.65 m 483.5 302.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 302.65 m 562.5 302.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 238.64999999999998 m 483.5 238.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 238.64999999999998 m 562.5 238.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 223.64999999999998 m 483.5 223.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 221.64999999999998 m 483.5 221.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 223.64999999999998 m 562.5 223.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 221.64999999999998 m 562.5 221.64999999999998 l s BT /F1 11.00 Tf ET q 0 0 0 rg BT 438.55 334.57 Td (Three Months Ended) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 430.80 318.57 Td (July 2,) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 434.50 307.57 Td (2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 506.15 318.57 Td (June 27,) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 513.50 307.57 Td (2015) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 292.52 Td (Balance at beginning of period) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 411.00 291.57 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.05 291.57 Td (13,371) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 490.00 291.57 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 533.55 291.57 Td (9,953) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 276.52 Td (Purchase accounting additions) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 468.30 275.57 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 533.55 275.57 Td (1,111) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 260.52 Td (Charged to costs and expenses) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 454.55 260.52 Td (6,136) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 533.55 260.52 Td (4,265) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 244.52 Td (Payments and deductions) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 450.85 243.57 Td (\(5,789) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 479.30 243.57 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 529.85 243.57 Td (\(4,272) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 558.30 243.57 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 228.52 Td (Balance at end of period) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 411.00 227.57 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.05 227.57 Td (13,718) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 490.00 227.57 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.05 227.57 Td (11,057) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 43 0 obj <>] /Rotate 0 /Contents 44 0 R>> endobj 44 0 obj <> stream 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 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (19) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 50.00 741.60 Td (12. Debt Obligations) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 719.40 Td (Debt obligations consist of amounts related to loans sold that did not qualify for loan sale accounting treatment. ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 706.20 Td (The following table summarizes debt obligations \(in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 668.70 358.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 668.70 75.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 668.70 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 668.70 75.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 625.70 358.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 625.70 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 625.70 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 625.70 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 593.70 358.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 593.70 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 593.70 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 593.70 75.00 -16.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 668.7 m 483.5 668.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 668.7 m 562.5 668.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 593.7 m 483.5 593.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 593.7 m 562.5 593.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 578.7 m 483.5 578.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 576.7 m 483.5 576.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 578.7 m 562.5 578.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 576.7 m 562.5 576.7 l s BT /F1 11.00 Tf ET q 0 0 0 rg BT 430.80 684.62 Td (July 2,) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 434.50 673.62 Td (2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 507.35 684.62 Td (April 2,) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 513.50 673.62 Td (2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 658.57 Td (Acquired securitized financings \(acquired as part of the Palm Harbor) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 62.00 647.57 Td (transaction\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 65.00 631.57 Td (Securitized financing 2005-1) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 411.00 630.62 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.05 630.62 Td (26,545) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 490.00 630.62 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.05 630.62 Td (27,481) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 65.00 615.57 Td (Securitized financing 2007-1) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.05 614.62 Td (27,957) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.05 614.62 Td (28,859) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 599.57 Td (Other secured financings) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 454.55 598.62 Td (4,965) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 533.55 598.62 Td (4,831) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 583.57 Td (Total securitized financings and other, net) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 411.00 582.62 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.05 582.62 Td (59,467) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 490.00 582.62 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.05 582.62 Td (61,171) Tj ET Q BT /F1 10.00 Tf ET BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 560.00 Td (The Company acquired CountryPlace's securitized financings during the first quarter of fiscal year 2012 as a ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 546.80 Td (part of the Palm Harbor acquisition. ) Tj ET Q q 0 0 0 rg BT 210.38 546.80 Td (Acquired securitized financings were recorded at fair value at the time of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 533.60 Td (acquisition, which resulted in a discount, and subsequently are accounted for in a manner similar to ) Tj ET Q q 0 0 0 rg BT 489.27 533.60 Td (ASC 310-30 to ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 520.40 Td (accrete the discount.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 498.20 Td (The Company considers expected prepayments and estimates the amount and timing of undiscounted expected ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 485.00 Td (principal, interest and other cash flows for securitized consumer loans receivable held for investment to determine ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 471.80 Td (the expected cash flows on securitized financings and the contractual payments. ) Tj ET Q q 0 0 0 rg BT 404.12 471.80 Td (The amount of contractual ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 458.60 Td (principal and contractual interest payments due on the securitized financings in excess of all cash flows expected as ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 445.40 Td (of the date of the Palm Harbor acquisition cannot be accreted into interest expense \(the non-accretable dif) Tj ET Q q 0 0 0 rg BT 514.66 445.40 Td (ference\). ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 432.20 Td (The remaining amount is accreted into interest expense over the remaining life of the obligation \(referred to as ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 419.00 Td (accretable yield\). ) Tj ET Q q 0 0 0 rg BT 128.28 419.00 Td (The following table summarizes acquired securitized financings \(in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 381.50 358.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 381.50 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 381.50 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 381.50 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 349.50 358.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 349.50 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 349.50 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 349.50 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 317.50 358.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 317.50 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 317.50 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 317.50 75.00 -16.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 381.5 m 483.5 381.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 381.5 m 562.5 381.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 317.5 m 483.5 317.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 317.5 m 562.5 317.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 302.5 m 483.5 302.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 300.5 m 483.5 300.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 302.5 m 562.5 302.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 300.5 m 562.5 300.5 l s BT /F1 11.00 Tf ET q 0 0 0 rg BT 430.80 397.42 Td (July 2,) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 434.50 386.42 Td (2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 507.35 397.42 Td (April 2,) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 513.50 386.42 Td (2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 371.37 Td (Securitized financings contractual amount) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 411.00 370.42 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.05 370.42 Td (65,961) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 490.00 370.42 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.05 370.42 Td (68,673) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 355.37 Td (Purchase discount) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 71.00 339.37 Td (Accretable) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 445.35 338.42 Td (\(11,459) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 479.30 338.42 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 524.35 338.42 Td (\(12,333) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 558.30 338.42 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 71.00 323.37 Td (Non-accretable \(1\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 468.30 322.42 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 547.30 322.42 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 307.37 Td (Total acquired securitized financings, net) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 411.00 306.42 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.05 306.42 Td (54,502) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 490.00 306.42 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.05 306.42 Td (56,340) Tj ET Q BT /F1 10.00 Tf ET BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 279.80 Td (\(1\) ) Tj ET Q q 0 0 0 rg BT 83.38 279.80 Td (There is no non-accretable dif) Tj ET Q q 0 0 0 rg BT 215.11 279.80 Td (ference, as the contractual payments on acquired securitized financing are ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 266.60 Td (determined by the cash collections from the underlying loans.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 244.40 Td (Over the life of the loans, the Company continues to estimate cash flows expected to be paid on securitized ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 231.20 Td (financings. ) Tj ET Q q 0 0 0 rg BT 101.12 231.20 Td (The Company evaluates at the balance sheet date whether the present value of its securitized financings, ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 218.00 Td (determined using the ef) Tj ET Q q 0 0 0 rg BT 153.35 218.00 Td (fective interest rate, has increased or decreased. ) Tj ET Q q 0 0 0 rg BT 365.40 218.00 Td (The present value of any subsequent change ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 204.80 Td (in cash flows expected to be paid adjusts the amount of accretable yield recognized on a prospective basis over the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 191.60 Td (securitized financing's remaining life.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 169.40 Td (The changes in accretable yield on securitized financings were as follows \(in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 115.90 358.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 115.90 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 115.90 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 115.90 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 83.90 358.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 83.90 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 83.90 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 83.90 75.00 -16.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 142.89999999999998 m 483.5 142.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 142.89999999999998 m 487.5 142.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 142.89999999999998 m 562.5 142.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 115.89999999999998 m 483.5 115.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 115.89999999999998 m 562.5 115.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 67.89999999999998 m 483.5 67.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 52.89999999999998 m 483.5 52.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 50.89999999999998 m 483.5 50.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 67.89999999999998 m 562.5 67.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 52.89999999999998 m 562.5 52.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 50.89999999999998 m 562.5 50.89999999999998 l s BT /F1 11.00 Tf ET q 0 0 0 rg BT 438.55 147.82 Td (Three Months Ended) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 430.80 131.82 Td (July 2,) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 434.50 120.82 Td (2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 506.15 131.82 Td (June 27,) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 513.50 120.82 Td (2015) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 105.77 Td (Balance at the beginning of the period) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 411.00 104.82 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.05 104.82 Td (12,333) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 490.00 104.82 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.05 104.82 Td (12,128) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 89.77 Td (Accretion) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 459.10 88.82 Td (\(968) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 479.30 88.82 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 538.10 88.82 Td (\(812) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 558.30 88.82 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 73.77 Td (Adjustment to cash flows) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 468.30 72.82 Td (94) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 538.10 72.82 Td (\(575) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 558.30 72.82 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 57.77 Td (Balance at the end of the period) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 411.00 56.82 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.05 56.82 Td (11,459) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 490.00 56.82 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.05 56.82 Td (10,741) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 45 0 obj <>] /Rotate 0 /Contents 46 0 R>> endobj 46 0 obj <> stream 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 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (20) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 741.40 Td (On ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 84.19 741.40 Td (July12, 2005) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 143.78 741.40 Td (, prior to the Company's acquisition of Palm Harbor and CountryPlace, CountryPlace ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 728.20 Td (completed its initial securitization \(2005-1\) for approximately ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 325.23 728.20 Td ($141.0 million) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 390.01 728.20 Td ( of loans, which was funded by issuing ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 715.00 Td (bonds totaling approximately ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 181.67 715.00 Td ($1) Tj ET Q q 0 0 0 rg BT 192.26 715.00 Td (18.4 million) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 246.04 715.00 Td (. ) Tj ET Q q 0 0 0 rg BT 251.35 715.00 Td (The bonds were issued in four dif) Tj ET Q q 0 0 0 rg BT 399.00 715.00 Td (ferent classes: Class) Tj ET Q q 0 0 0 rg BT 489.73 715.00 Td (A-1 totaling ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 701.80 Td ($36.3 million) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 109.28 701.80 Td ( with a coupon rate of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 208.25 701.80 Td (4.23%) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 236.66 701.80 Td (; Class) Tj ET Q q 0 0 0 rg BT 268.45 701.80 Td (A-2 totaling ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 324.66 701.80 Td ($27.4 million) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 383.94 701.80 Td ( with a coupon rate of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 482.91 701.80 Td (4.42%) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 511.32 701.80 Td (; Class) Tj ET Q q 0 0 0 rg BT 543.11 701.80 Td (A-3 ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 688.60 Td (totaling ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 86.36 688.60 Td ($27.3 million) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 145.64 688.60 Td ( with a coupon rate of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 244.61 688.60 Td (4.80%) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 273.02 688.60 Td (; and Class) Tj ET Q q 0 0 0 rg BT 323.44 688.60 Td (A-4 totaling ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 379.65 688.60 Td ($27.4 million) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 438.93 688.60 Td ( with a coupon rate of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 675.40 Td (5.20%) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 78.41 675.40 Td (. ) Tj ET Q q 0 0 0 rg BT 83.71 675.40 Td (The bonds mature at varying dates and at issuance had an expected weighted average maturity of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 513.16 675.40 Td (4.66 years) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 558.37 675.40 Td (. ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 662.20 Td (For accounting purposes, this transaction was structured as a securitized borrowing. ) Tj ET Q q 0 0 0 rg BT 420.55 662.20 Td (As of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 447.43 662.20 Td (July 2, 2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 501.52 662.20 Td (, the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 649.00 Td (Class) Tj ET Q q 0 0 0 rg BT 75.98 649.00 Td (A-1 and Class) Tj ET Q q 0 0 0 rg BT 140.45 649.00 Td (A-2 bonds have been retired.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 626.80 Td (On ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 84.19 626.80 Td (March22, 2007) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 154.15 626.80 Td (, prior to the Company's acquisition of Palm Harbor and CountryPlace, CountryPlace ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 613.60 Td (completed its second securitization \(2007-1\) for approximately ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 330.11 613.60 Td ($1) Tj ET Q q 0 0 0 rg BT 340.70 613.60 Td (16.5 million) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 394.48 613.60 Td ( of loans, which was funded by ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 600.40 Td (issuing bonds totaling approximately ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 215.60 600.40 Td ($101.9 million) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 280.38 600.40 Td (. ) Tj ET Q q 0 0 0 rg BT 285.68 600.40 Td (The bonds were issued in four classes: Class) Tj ET Q q 0 0 0 rg BT 483.65 600.40 Td (A-1 totaling ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 587.20 Td ($28.9 million) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 109.28 587.20 Td ( with a coupon rate of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 208.25 587.20 Td (5.484%) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 242.16 587.20 Td (; Class) Tj ET Q q 0 0 0 rg BT 273.95 587.20 Td (A-2 totaling ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 330.16 587.20 Td ($23.4 million) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 389.44 587.20 Td ( with a coupon rate of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 488.41 587.20 Td (5.232%) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 522.32 587.20 Td (; ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 574.00 Td (Class) Tj ET Q q 0 0 0 rg BT 75.98 574.00 Td (A-3 totaling ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 132.19 574.00 Td ($24.5 million) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 191.47 574.00 Td ( with a coupon rate of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 290.44 574.00 Td (5.593%) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 324.36 574.00 Td (; and Class) Tj ET Q q 0 0 0 rg BT 374.77 574.00 Td (A-4 totaling ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 430.99 574.00 Td ($25.1 million) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 490.27 574.00 Td ( with a coupon ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 560.80 Td (rate of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 81.15 560.80 Td (5.846%) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 115.06 560.80 Td (. ) Tj ET Q q 0 0 0 rg BT 120.36 560.80 Td (The bonds mature at varying dates and at issuance had an expected weighted average maturity of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 547.60 Td (4.86 years) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 95.21 547.60 Td (. For accounting purposes, this transaction was also structured as a securitized borrowing. ) Tj ET Q q 0 0 0 rg BT 491.72 547.60 Td (As of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 518.61 547.60 Td (July 2, ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 534.40 Td (2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 72.00 534.40 Td (, the Class) Tj ET Q q 0 0 0 rg BT 119.67 534.40 Td (A-1 and Class) Tj ET Q q 0 0 0 rg BT 184.14 534.40 Td (A-2 bonds have been retired.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 512.20 Td (CountryPlace's securitized debt is subject to provisions that require certain levels of overcollateralization. ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 499.00 Td (Overcollateralization is equal to CountryPlace's equity in the bonds. Failure to satisfy these provisions could cause ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 485.80 Td (cash, which would normally be distributed to CountryPlace, to be used for repayment of the principal of the related ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 472.60 Td (Class ) Tj ET Q q 0 0 0 rg BT 75.98 472.60 Td (A) Tj ET Q q 0 0 0 rg BT 83.32 472.60 Td ( bonds until the required overcollateralization level is reached. During periods when the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 459.40 Td (overcollateralization is below the specified level, cash collections from the securitized loans in excess of servicing ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 446.20 Td (fees payable to CountryPlace and amounts owed to the Class ) Tj ET Q q 0 0 0 rg BT 320.05 446.20 Td (A) Tj ET Q q 0 0 0 rg BT 327.39 446.20 Td ( bondholders, trustee and surety) Tj ET Q q 0 0 0 rg BT 466.89 446.20 Td (, are applied to ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 433.00 Td (reduce the Class ) Tj ET Q q 0 0 0 rg BT 124.23 433.00 Td (A) Tj ET Q q 0 0 0 rg BT 131.57 433.00 Td ( debt until such time the overcollateralization level reaches the specified level. ) Tj ET Q q 0 0 0 rg BT 478.64 433.00 Td (Therefore, failure ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 419.80 Td (to meet the overcollateralization requirement could adversely af) Tj ET Q q 0 0 0 rg BT 331.09 419.80 Td (fect the timing of cash flows received by ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 406.60 Td (CountryPlace. However) Tj ET Q q 0 0 0 rg BT 155.25 406.60 Td (, principal payments of the securitized debt, including accelerated amounts, is payable only ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 393.40 Td (from cash collections from the securitized loans and no additional sources of repayment are required or permitted. ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 380.20 Td (As of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 76.89 380.20 Td (July 2, 2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 130.97 380.20 Td (, the 2005-1 and 2007-1 securitized portfolios were within the required overcollateralization ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 367.00 Td (level.) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 50.00 339.80 Td (13. Reinsurance) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 317.60 Td (Standard Casualty is primarily a specialty writer of manufactured home physical damage insurance. Certain of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 304.40 Td (Standard Casualty's premiums and benefits are assumed from and ceded to other insurance companies under various ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 291.20 Td (reinsurance agreements. ) Tj ET Q q 0 0 0 rg BT 158.83 291.20 Td (The ceded reinsurance agreements provide Standard Casualty with increased capacity to ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 278.00 Td (write lar) Tj ET Q q 0 0 0 rg BT 86.75 278.00 Td (ger risks and maintain its exposure to loss within its capital resources. Standard Casualty remains obligated ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 264.80 Td (for amounts ceded in the event that the reinsurers do not meet their obligations. Substantially all of Standard ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 251.60 Td (Casualty's assumed reinsurance is with one entity) Tj ET Q q 0 0 0 rg BT 266.94 251.60 Td (.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 229.40 Td (The ef) Tj ET Q q 0 0 0 rg BT 96.20 229.40 Td (fects of reinsurance on premiums written and earned are as follows \(in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 158.90 199.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 249.50 158.90 74.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 323.50 158.90 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 327.50 158.90 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 402.50 158.90 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 406.50 158.90 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.50 158.90 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 158.90 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 126.90 199.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 249.50 126.90 74.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 323.50 126.90 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 327.50 126.90 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 402.50 126.90 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 406.50 126.90 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.50 126.90 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 126.90 75.00 -16.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 249.5 190.89999999999998 m 323.5 190.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 323.5 190.89999999999998 m 327.5 190.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 327.5 190.89999999999998 m 402.5 190.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402.5 190.89999999999998 m 406.5 190.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 190.89999999999998 m 481.5 190.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 481.5 190.89999999999998 m 485.5 190.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485.5 190.89999999999998 m 560.5 190.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 249.5 174.89999999999998 m 323.5 174.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 323.5 174.89999999999998 m 327.5 174.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 327.5 174.89999999999998 m 402.5 174.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 174.89999999999998 m 481.5 174.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 481.5 174.89999999999998 m 485.5 174.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485.5 174.89999999999998 m 560.5 174.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 249.5 158.89999999999998 m 323.5 158.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 327.5 158.89999999999998 m 402.5 158.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 158.89999999999998 m 481.5 158.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485.5 158.89999999999998 m 560.5 158.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 158.89999999999998 m 481.5 158.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485.5 158.89999999999998 m 560.5 158.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 249.5 110.89999999999998 m 323.5 110.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 327.5 110.89999999999998 m 402.5 110.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 110.89999999999998 m 481.5 110.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485.5 110.89999999999998 m 560.5 110.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 249.5 95.89999999999998 m 323.5 95.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 249.5 93.89999999999998 m 323.5 93.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 327.5 95.89999999999998 m 402.5 95.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 327.5 93.89999999999998 m 402.5 93.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 95.89999999999998 m 481.5 95.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 93.89999999999998 m 481.5 93.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485.5 95.89999999999998 m 560.5 95.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485.5 93.89999999999998 m 560.5 93.89999999999998 l s BT /F1 11.00 Tf ET q 0 0 0 rg BT 358.05 195.82 Td (Three Months Ended) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 298.45 179.82 Td (July 2, 2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 452.25 179.82 Td (June 27, 2015) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 269.40 163.82 Td (Written) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 348.90 163.82 Td (Earned) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 426.90 163.82 Td (Written) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 506.90 163.82 Td (Earned) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 148.77 Td (Direct premiums) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 252.00 147.82 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 294.55 147.82 Td (4,386) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 330.00 147.82 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 373.55 147.82 Td (3,926) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 409.00 147.82 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 452.55 147.82 Td (4,111) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 488.00 147.82 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 531.55 147.82 Td (3,593) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 132.77 Td (Assumed premiumsnonaffiliate) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 294.55 131.82 Td (6,947) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 373.55 131.82 Td (5,632) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 452.55 131.82 Td (5,789) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 531.55 131.82 Td (5,083) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 116.77 Td (Ceded premiumsnonaffiliate) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 290.85 115.82 Td (\(3,220) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 319.30 115.82 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 369.85 115.82 Td (\(3,220) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 398.30 115.82 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 448.85 115.82 Td (\(2,714) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 477.30 115.82 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 527.85 115.82 Td (\(2,714) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 556.30 115.82 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 100.77 Td (Net premiums) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 252.00 99.82 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 294.55 99.82 Td (8,113) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 330.00 99.82 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 373.55 99.82 Td (6,338) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 409.00 99.82 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 452.55 99.82 Td (7,186) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 488.00 99.82 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 531.55 99.82 Td (5,962) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 47 0 obj <>] /Rotate 0 /Contents 48 0 R>> endobj 48 0 obj <> stream 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 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (21) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 741.40 Td (T) Tj ET Q q 0 0 0 rg BT 73.95 741.40 Td (ypical insurance policies written or assumed by Standard Casualty have a maximum coverage of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 501.60 741.40 Td ($300,000) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 542.85 741.40 Td ( per ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 728.20 Td (claim, of which Standard cedes ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 190.51 728.20 Td ($200,000) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 231.76 728.20 Td ( of the risk of loss per reinsurance. ) Tj ET Q q 0 0 0 rg BT 386.43 728.20 Td (Therefore, Standard Casualty maintains ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 715.00 Td (risk of loss limited to ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 146.25 715.00 Td ($100,000) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 187.50 715.00 Td ( per claim on typical policies. ) Tj ET Q q 0 0 0 rg BT 319.77 715.00 Td (Amounts are recoverable by Standard Casualty ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 701.80 Td (through reinsurance for catastrophic losses in excess of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 295.59 701.80 Td ($1.0 million) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 349.37 701.80 Td ( per occurrence up to a maximum of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 511.86 701.80 Td ($44.0 ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 688.60 Td (million) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 81.78 688.60 Td ( in the aggregate.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 666.40 Td (Purchasing reinsurance contracts protects Standard Casualty from frequency and/or severity of losses incurred ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 653.20 Td (on insurance policies issued, such as in the case of a catastrophe that generates a lar) Tj ET Q q 0 0 0 rg BT 417.55 653.20 Td (ge numberof serious claims on ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 640.00 Td (multiple policies at the same time.) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 50.00 612.80 Td (14. Income ) Tj ET Q q 0 0 0 rg BT 103.88 612.80 Td (T) Tj ET Q q 0 0 0 rg BT 110.20 612.80 Td (axes) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 590.60 Td (The Company's deferred tax assets primarily result from financial statement accruals not currently deductible ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 577.40 Td (for tax purposes and dif) Tj ET Q q 0 0 0 rg BT 154.27 577.40 Td (ferences in the acquired basis of certain assets, and its deferred tax liabilities primarily result ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 564.20 Td (from tax amortization of goodwill and other intangible assets.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 542.00 Td (The Company complies with the provisions of ) Tj ET Q q 0 0 0 rg BT 274.23 542.00 Td (ASC 740, ) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 320.38 542.00 Td (Income T) Tj ET Q q 0 0 0 rg BT 360.61 542.00 Td (axes) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 380.15 542.00 Td ( \("ASC 740"\), which clarifies the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 528.80 Td (accounting for income taxes by prescribing a minimum recognition threshold a tax position is required to meet ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 515.60 Td (before being recognized in the financial statements. ) Tj ET Q q 0 0 0 rg BT 279.08 515.60 Td (ASC 740 also provides guidance on derecognizing, ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 502.40 Td (measurement, classification, interest and penalties, accounting in interim periods, disclosure and transition. ) Tj ET Q q 0 0 0 rg BT 523.59 502.40 Td (The ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 489.20 Td (amount of unrecognized tax benefits recorded by the Company is insignificant and the impact on the ef) Tj ET Q q 0 0 0 rg BT 503.72 489.20 Td (fective tax ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 476.00 Td (rate if all unrecognized tax benefits were recognized would be insignificant. ) Tj ET Q q 0 0 0 rg BT 387.00 476.00 Td (The Company classifies interest and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 462.80 Td (penalties related to unrecognized tax benefits in tax expense.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 444.60 Td (Income tax returns are filed in the U.S. federal jurisdiction and in several state jurisdictions. ) Tj ET Q q 0 0 0 rg BT 474.68 444.60 Td (The Company is no ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 431.40 Td (longer subject to examination by the IRS for years before fiscal year 2013. In general, the Company is no longer ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 418.20 Td (subject to state and local income tax examinations by tax authorities for years before fiscal year 2012. ) Tj ET Q q 0 0 0 rg BT 500.65 418.20 Td (The ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 405.00 Td (Company believes that its income tax filing positions and deductions will be sustained on audit and does not ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 391.80 Td (anticipate any adjustments that will result in a material change to the Company's financial position. ) Tj ET Q q 0 0 0 rg BT 488.61 391.80 Td (The total ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 378.60 Td (amount of unrecognized tax benefit related to any particular tax position is not anticipated to change significantly ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 365.40 Td (within the next 12 months. ) Tj ET Q q 0 0 0 rg BT 170.18 365.40 Td (The provision for income taxes generally represents income taxes paid or payable for the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 352.20 Td (current year plus the change in deferred taxes during the year) Tj ET Q q 0 0 0 rg BT 318.77 352.20 Td (.) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 50.00 325.00 Td (15. Commitments and Contingencies) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 68.00 302.80 Td (Repur) Tj ET Q q 0 0 0 rg BT 94.47 302.80 Td (chase Contingencies) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 185.20 302.80 Td (. ) Tj ET Q q 0 0 0 rg BT 190.50 302.80 Td (The Company is contingently liable under terms of repurchase agreements with ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 289.60 Td (financial institutions providing inventory financing for independent retailers of its products. ) Tj ET Q q 0 0 0 rg BT 456.10 289.60 Td (These arrangements, ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 276.40 Td (which are customary in the industry) Tj ET Q q 0 0 0 rg BT 207.22 276.40 Td (, provide for the repurchase of products sold to retailers in the event of default ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 263.20 Td (by the retailer) Tj ET Q q 0 0 0 rg BT 110.47 263.20 Td (. ) Tj ET Q q 0 0 0 rg BT 115.77 263.20 Td (The risk of loss under these agreements is spread over numerous retailers. ) Tj ET Q q 0 0 0 rg BT 443.34 263.20 Td (The price the Company is ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 250.00 Td (obligated to pay generally declines over the period of the agreement \(generally ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 399.41 250.00 Td (18) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 410.41 250.00 Td ( to ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 424.47 250.00 Td (36 months) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 470.61 250.00 Td (, calculated from the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 236.80 Td (date of sale to the retailer\) and the risk of loss is further reduced by the resale value of the repurchased homes. ) Tj ET Q q 0 0 0 rg BT 536.98 236.80 Td (The ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 223.60 Td (maximum amount for which the Company was contingently liable under such agreements approximated ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 210.40 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 55.50 210.40 Td (49.1million) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 109.28 210.40 Td ( at ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 122.72 210.40 Td (July 2, 2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 176.81 210.40 Td (, without reduction for the resale value of the homes. ) Tj ET Q q 0 0 0 rg BT 411.81 210.40 Td (The Company applies ) Tj ET Q q 0 0 0 rg BT 510.49 210.40 Td (ASC 460, ) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 50.00 197.20 Td (Guarantees) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 101.33 197.20 Td ( \("ASC 460"\), and ) Tj ET Q q 0 0 0 rg BT 184.56 197.20 Td (ASC 450-20, ) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 245.37 197.20 Td (Loss Contingencies) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 331.23 197.20 Td ( \("ASC 450-20"\), to account for its liability for ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 184.00 Td (repurchase commitments. Under the provisions of ) Tj ET Q q 0 0 0 rg BT 272.09 184.00 Td (ASC 460, the Company records the greater of the estimated value ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 170.80 Td (of the non-contingent obligation or a contingent liability for each repurchase arrangement under the provisions of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 157.60 Td (ASC 450-20. ) Tj ET Q q 0 0 0 rg BT 110.61 157.60 Td (The Company recorded an estimated liability of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 324.13 157.60 Td ($1.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.91 157.60 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 380.41 157.60 Td (at both ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 413.41 157.60 Td (July 2, 2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 467.49 157.60 Td ( and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 488.27 157.60 Td (April 2, 2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 547.24 157.60 Td (, ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 144.40 Td (related to the commitments pertaining to these agreements.) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 68.00 122.20 Td (Letters of Cr) Tj ET Q q 0 0 0 rg BT 123.82 122.20 Td (edit.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 143.07 122.20 Td ( ) Tj ET Q q 0 0 0 rg BT 145.62 122.20 Td (T) Tj ET Q q 0 0 0 rg BT 151.57 122.20 Td (o secure certain reinsurance contracts, Standard Casualty maintains an irrevocable letter of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 109.00 Td (credit of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 89.70 109.00 Td ($7.0 million) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 143.48 109.00 Td ( to provide assurance that Standard Casualty will fulfill its reinsurance obligations. ) Tj ET Q q 0 0 0 rg BT 510.17 109.00 Td (This letter ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 95.80 Td (of credit is secured by certain of the Company's investments.) Tj ET Q endstream endobj 49 0 obj <>] /Rotate 0 /Contents 50 0 R>> endobj 50 0 obj <> stream 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 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (22) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 68.00 741.40 Td (Construction-Period Mortgages.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 212.21 741.40 Td ( CountryPlace funds construction-period mortgages through periodic advances ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 728.20 Td (during the period of home construction. ) Tj ET Q q 0 0 0 rg BT 226.88 728.20 Td (At the time of initial funding, CountryPlace commits to fully fund the loan ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 715.00 Td (contract in accordance with a predetermined schedule. Subsequent advances are contingent upon the performance ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 701.80 Td (of contractual obligations by the seller of the home and the borrower) Tj ET Q q 0 0 0 rg BT 351.49 701.80 Td (. Cumulative advances on construction-period ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 688.60 Td (mortgages are carried in the consolidated balance sheet at the amount advanced less a valuation allowance, which ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 675.40 Td (are included in consumer loans receivable. ) Tj ET Q q 0 0 0 rg BT 240.08 675.40 Td (The total loan contract amount, less cumulative advances, represents an ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 662.20 Td (of) Tj ET Q q 0 0 0 rg BT 58.96 662.20 Td (f-balance sheet contingent commitment of CountryPlace to fund future advances.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 640.00 Td (Loan contracts with of) Tj ET Q q 0 0 0 rg BT 167.08 640.00 Td (f-balance sheet commitments are summarized below \(in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 602.50 358.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 602.50 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 602.50 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 602.50 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 570.50 358.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 570.50 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 570.50 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 570.50 75.00 -16.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 602.5 m 483.5 602.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 602.5 m 562.5 602.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 602.5 m 483.5 602.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 602.5 m 562.5 602.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 570.5 m 483.5 570.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 570.5 m 483.5 570.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 555.5 m 483.5 555.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 553.5 m 483.5 553.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 570.5 m 562.5 570.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 555.5 m 562.5 555.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 553.5 m 562.5 553.5 l s BT /F1 11.00 Tf ET q 0 0 0 rg BT 430.80 618.42 Td (July 2,) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 434.50 607.42 Td (2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 507.35 618.42 Td (April 2,) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 513.50 607.42 Td (2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 592.37 Td (Construction loan contract amount) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 411.00 591.42 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.05 591.42 Td (15,688) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 490.00 591.42 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.05 591.42 Td (15,109) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 576.37 Td (Cumulative advances) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 450.85 575.42 Td (\(5,685) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 479.30 575.42 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 529.85 575.42 Td (\(6,566) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 558.30 575.42 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 560.37 Td (Remaining construction contingent commitment) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 411.00 559.42 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.05 559.42 Td (10,003) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 490.00 559.42 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 533.55 559.42 Td (8,543) Tj ET Q BT /F1 10.00 Tf ET BT /F3 11.00 Tf ET q 0 0 0 rg BT 68.00 532.80 Td (Repr) Tj ET Q q 0 0 0 rg BT 88.97 532.80 Td (esentations and W) Tj ET Q q 0 0 0 rg BT 168.62 532.80 Td (arranties of Mortgages Sold) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 292.98 532.80 Td (. CountryPlace sells loans to GSEs and whole-loan ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 519.60 Td (purchasers. In connection with these activities, CountryPlace provides to the GSEs and whole-loan purchasers ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 506.40 Td (representations and warranties related to the loans sold. ) Tj ET Q q 0 0 0 rg BT 296.30 506.40 Td (These representations and warranties generally relate to the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 493.20 Td (ownership of the loan, the validity of the lien securing the loan, the loan's compliance with the criteria for inclusion ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 480.00 Td (in the sale transactions, including compliance with underwriting standards or loan criteria established by the buyer) Tj ET Q q 0 0 0 rg BT 552.97 480.00 Td (, ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 466.80 Td (and CountryPlace's ability to deliver documentation in compliance with applicable laws. Generally) Tj ET Q q 0 0 0 rg BT 484.42 466.80 Td (, representations ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 453.60 Td (and warranties may be enforced at any time over the life of the loan. Upon a breach of a representation, ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 440.40 Td (CountryPlace may be required to repurchase the loan or to indemnify a party for incurred losses. Repurchase ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 427.20 Td (demands and claims for indemnification payments are reviewed on a loan-by-loan basis to validate if there has been ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 414.00 Td (a breach requiring repurchase. CountryPlace manages the risk of repurchase through underwriting and quality ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 400.80 Td (assurance practices and by servicing the mortgage loans to investor standards. CountryPlace maintains a reserve for ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 387.60 Td (these contingent repurchase and indemnification obligations. ) Tj ET Q q 0 0 0 rg BT 320.14 387.60 Td (This reserve of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 388.86 387.60 Td ($816,000) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 430.11 387.60 Td ( and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 451.49 387.60 Td ($785,000) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 492.74 387.60 Td ( as of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 519.32 387.60 Td (July 2, ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 374.40 Td (2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 72.00 374.40 Td ( and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 92.78 374.40 Td (April 2, 2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 151.74 374.40 Td (, respectively) Tj ET Q q 0 0 0 rg BT 209.67 374.40 Td (, included in accrued liabilities, reflects management's estimate of probable ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 361.20 Td (loss. CountryPlace considers a variety of assumptions, including borrower performance \(both actual and estimated ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 348.00 Td (future defaults\), historical repurchase demands and loan defect rates to estimate the liability for loan repurchases ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 334.80 Td (and indemnifications.) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 68.00 312.60 Td (Inter) Tj ET Q q 0 0 0 rg BT 88.97 312.60 Td (est Rate Lock Commitments) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 211.48 312.60 Td (. In originating loans for sale, CountryPlace issues interest rate lock ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 299.40 Td (commitments \("IRLCs"\) to prospective borrowers and third-party originators. ) Tj ET Q q 0 0 0 rg BT 394.51 299.40 Td (These IRLCs represent an agreement ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 286.20 Td (to extend credit to a loan applicant, or an agreement to purchase a loan from a third-party originator) Tj ET Q q 0 0 0 rg BT 488.17 286.20 Td (, whereby the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 273.00 Td (interest rate on the loan is set prior to loan closing or sale. ) Tj ET Q q 0 0 0 rg BT 307.01 273.00 Td (These IRLCs bind CountryPlace to fund the approved ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 259.80 Td (loan at the specified rate regardless of whether interest rates or market prices for similar loans have changed ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 246.60 Td (between the commitment date and the closing date. ) Tj ET Q q 0 0 0 rg BT 277.57 246.60 Td (As such, outstanding IRLCs are subject to interest rate risk and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 233.40 Td (related loan sale price risk during the period from the date of the IRLC through the earlier of the loan sale date or ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 220.20 Td (IRLC expiration date. ) Tj ET Q q 0 0 0 rg BT 148.77 220.20 Td (The loan commitments generally range between ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 363.19 220.20 Td (30) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 374.19 220.20 Td ( and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 395.58 220.20 Td (180) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 412.08 220.20 Td ( days; however) Tj ET Q q 0 0 0 rg BT 478.23 220.20 Td (, borrowers are not ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 207.00 Td (obligated to close the related loans. ) Tj ET Q q 0 0 0 rg BT 207.31 207.00 Td (As a result, CountryPlace is subject to fallout risk related to IRLCs, which is ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 193.80 Td (realized if approved borrowers choose not to close on the loans within the terms of the IRLCs unless the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 180.60 Td (commitment is successfully paired with another loan that may mitigate losses from fallout.) Tj ET Q endstream endobj 51 0 obj <>] /Rotate 0 /Contents 52 0 R>> endobj 52 0 obj <> stream 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 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (23) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 741.40 Td (As of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 94.89 741.40 Td (July 2, 2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 148.97 741.40 Td (, CountryPlace had outstanding IRLCs with a notional amount of $) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 443.80 741.40 Td (5.8 million) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 492.08 741.40 Td ( and are ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 728.20 Td (recorded at fair value in accordance with ) Tj ET Q q 0 0 0 rg BT 231.71 728.20 Td (ASC 815, ) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 277.86 728.20 Td (Derivatives and Hedging) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 388.44 728.20 Td ( \("ASC 815"\). ) Tj ET Q q 0 0 0 rg BT 453.04 728.20 Td (ASC 815 clarifies that ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 715.00 Td (the expected net future cash flows related to the associated servicing of a loan should be included in the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 701.80 Td (measurement of all written loan commitments that are accounted for at fair value through earnings. ) Tj ET Q q 0 0 0 rg BT 488.42 701.80 Td (The estimated ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 688.60 Td (fair values of IRLCs are recorded in other assets in the consolidated balance sheets. ) Tj ET Q q 0 0 0 rg BT 419.70 688.60 Td (The fair value of IRLCs is ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 675.40 Td (based on the value of the underlying mortgage loan adjusted for: \(i\) estimated cost to complete and originate the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 662.20 Td (loan and \(ii\) the estimated percentage of IRLCs that will result in closed mortgage loans. ) Tj ET Q q 0 0 0 rg BT 443.24 662.20 Td (The initial and subsequent ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 649.00 Td (changes in the value of IRLCs are a component of gain \(loss\) on mortgage loans held for sale. During the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 516.45 649.00 Td (three ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 635.80 Td (months ended July 2, 2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 168.24 635.80 Td (, CountryPlace recognized ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 287.37 635.80 Td (gains) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 310.59 635.80 Td ( of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 325.25 635.80 Td ($28,000) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 361.00 635.80 Td ( on the outstanding IRLCs. During the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 532.71 635.80 Td (three ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 622.60 Td (months ended June 27, 2015) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 175.57 622.60 Td (, CountryPlace recognized ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 294.70 622.60 Td (losses) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 320.98 622.60 Td ( of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 335.64 622.60 Td ($18,000) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 371.39 622.60 Td ( on the outstanding IRLCs.) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 68.00 600.40 Td (Forwar) Tj ET Q q 0 0 0 rg BT 101.21 600.40 Td (d Sales Commitments) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 195.93 600.40 Td (. CountryPlace manages the risk profiles of a portion of its outstanding IRLCs and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 587.20 Td (mortgage loans held for sale by entering into forward sales of mortgage backed securities \("MBS"\) and whole loan ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 574.00 Td (sale commitments. ) Tj ET Q q 0 0 0 rg BT 134.63 574.00 Td (As of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 161.51 574.00 Td (July 2, 2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 215.60 574.00 Td (, CountryPlace had ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 302.36 574.00 Td ($23.9 million) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 361.64 574.00 Td ( in outstanding notional forward sales of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 560.80 Td (MBSs and forward sales commitments. Commitments to forward sales of whole loans are typically in an amount ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 547.60 Td (proportionate with the amount of IRLCs expected to close in particular time frames, assuming no change in ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 534.40 Td (mortgage interest rates, for the respective loan products intended for whole loan sale.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 512.20 Td (The estimated fair values of forward sales of MBS and forward sale commitments are based on quoted market ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 499.00 Td (values and are recorded within other current assets in the consolidated balance sheets. During the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 480.07 499.00 Td (three months ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 485.80 Td (ended July 2, 2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 133.10 485.80 Td ( and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 154.48 485.80 Td (June 27, 2015) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 215.90 485.80 Td (, CountryPlace recognized ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 335.02 485.80 Td (losses) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 361.30 485.80 Td ( of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 375.97 485.80 Td ($44,000) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 411.72 485.80 Td ( and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 433.10 485.80 Td (gains) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 456.32 485.80 Td ( of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 470.98 485.80 Td ($66,000) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 506.73 485.80 Td (, ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 472.60 Td (respectively) Tj ET Q q 0 0 0 rg BT 102.43 472.60 Td (, on forward sales and whole loan sale commitments.) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 68.00 450.40 Td (Legal Matters.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 132.78 450.40 Td ( ) Tj ET Q q 0 0 0 rg BT 135.33 450.40 Td (The Company is party to certain legal proceedings that arise in the ordinary course and are ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 437.20 Td (incidental to its business. Certain of the claims pending against the Company in these proceedings allege, among ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 424.00 Td (other things, breach of contract and warranty) Tj ET Q q 0 0 0 rg BT 246.90 424.00 Td (, product liability and personal injury) Tj ET Q q 0 0 0 rg BT 409.93 424.00 Td (. ) Tj ET Q q 0 0 0 rg BT 414.82 424.00 Td (Although litigation is inherently ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 410.80 Td (uncertain, based on past experience and the information currently available, management does not believe that the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 397.60 Td (currently pending and threatened litigation or claims will have a material adverse ef) Tj ET Q q 0 0 0 rg BT 418.16 397.60 Td (fect on the Company's ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 384.40 Td (consolidated financial position, liquidity or results of operations. However) Tj ET Q q 0 0 0 rg BT 377.05 384.40 Td (, future events or circumstances currently ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 371.20 Td (unknown to management will determine whether the resolution of pending or threatened litigation or claims will ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 358.00 Td (ultimately have a material ef) Tj ET Q q 0 0 0 rg BT 175.63 358.00 Td (fect on the Company's consolidated financial position, liquidity or results of operations ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 344.80 Td (in any future reporting periods.) Tj ET Q endstream endobj 53 0 obj <>] /Rotate 0 /Contents 54 0 R>> endobj 54 0 obj <> stream 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 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (24) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 50.00 741.60 Td (16. Stockholders' Equity) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 719.40 Td (The following table represents changes in stockholders' equity for the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 376.67 719.40 Td (three months) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 433.80 719.40 Td ( ended ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 465.56 719.40 Td (July 2, 2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 519.65 719.40 Td ( \(dollars ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 706.20 Td (in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 652.70 100.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 150.50 652.70 65.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 215.50 652.70 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 219.50 652.70 65.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 284.50 652.70 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 288.50 652.70 65.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 652.70 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 652.70 65.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 652.70 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 652.70 67.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 652.70 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 652.70 65.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 592.70 100.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 150.50 592.70 65.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 215.50 592.70 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 219.50 592.70 65.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 284.50 592.70 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 288.50 592.70 65.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 592.70 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 592.70 65.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 592.70 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 592.70 67.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 592.70 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 592.70 65.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 552.70 100.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 150.50 552.70 65.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 215.50 552.70 4.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 219.50 552.70 65.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 284.50 552.70 4.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 288.50 552.70 65.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 552.70 4.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 552.70 65.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 552.70 4.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 552.70 67.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 552.70 4.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 552.70 65.00 -35.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 150.5 667.7 m 215.5 667.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 215.5 667.7 m 219.5 667.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 219.5 667.7 m 284.5 667.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 150.5 652.7 m 215.5 652.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 219.5 652.7 m 284.5 652.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 288.5 652.7 m 353.5 652.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 652.7 m 422.5 652.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 652.7 m 493.5 652.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 652.7 m 562.5 652.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 150.5 517.7 m 215.5 517.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 150.5 493.7 m 215.5 493.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 150.5 491.7 m 215.5 491.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 219.5 517.7 m 284.5 517.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 219.5 493.7 m 284.5 493.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 219.5 491.7 m 284.5 491.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 288.5 517.7 m 353.5 517.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 288.5 493.7 m 353.5 493.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 288.5 491.7 m 353.5 491.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 517.7 m 422.5 517.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 493.7 m 422.5 493.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 491.7 m 422.5 491.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 517.7 m 493.5 517.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 493.7 m 493.5 493.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 491.7 m 493.5 491.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 517.7 m 562.5 517.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 493.7 m 562.5 493.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 491.7 m 562.5 491.7 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.10 667.37 Td (Additional) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.75 657.37 Td (paid-in capital) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.70 667.37 Td (Retained) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.55 657.37 Td (earnings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.80 686.27 Td (Accumulated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.20 676.27 Td (other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.20 666.27 Td (comprehensive) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.75 656.27 Td (income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.25 657.37 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 185.70 672.37 Td (Common Stock) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.15 657.37 Td (Shares) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 235.10 657.37 Td (Amount) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 632.37 Td (Balance, April 2, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 171.65 632.37 Td (8,927,989) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 222.00 632.37 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.65 632.37 Td (89) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.00 632.37 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.15 632.37 Td (241,662) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.00 632.37 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.15 632.37 Td (110,186) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.00 632.37 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.15 632.37 Td (1,289) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 632.37 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 632.37 Td (353,226) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 618.27 Td (Stock option exercises,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 608.27 Td (including incremental) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 598.27 Td (tax benefits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 184.15 597.37 Td (42,325) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.65 597.37 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.30 597.42 Td (\(342) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.65 597.37 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.65 597.37 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.65 597.37 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 597.42 Td (\(341) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 597.37 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 583.27 Td (Share-based) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 573.27 Td (compensation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 201.65 572.37 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.65 572.37 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.65 572.37 Td (370) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.65 572.37 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.65 572.37 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 572.37 Td (370) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 558.27 Td (Net income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 201.65 557.37 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.65 557.37 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 557.37 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.15 557.37 Td (5,443) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.65 557.37 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 557.37 Td (5,443) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 543.27 Td (Unrealized loss on) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 533.27 Td (Available-for-sale) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 523.27 Td (securities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 201.65 522.37 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.65 522.37 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 522.37 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.65 522.37 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.30 522.42 Td (\(55) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.65 522.37 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 522.42 Td (\(55) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 522.37 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 497.37 Td (Balance, July 2, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 171.65 497.37 Td (8,970,314) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 222.00 497.37 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.65 497.37 Td (90) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.00 497.37 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.15 497.37 Td (241,690) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.00 497.37 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.15 497.37 Td (115,629) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.00 497.37 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.15 497.37 Td (1,234) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 497.37 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 497.37 Td (358,643) Tj ET Q BT /F1 10.00 Tf ET BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 471.00 Td (\(1\) ) Tj ET Q q 0 0 0 rg BT 95.00 471.00 Td (Other comprehensive income is comprised of unrealized gains and losses on available-for) Tj ET Q q 0 0 0 rg BT 489.73 471.00 Td (-sale ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 95.00 457.80 Td (investments. Unrealized ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 204.05 457.80 Td (losses) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 230.33 457.80 Td ( before tax ef) Tj ET Q q 0 0 0 rg BT 288.46 457.80 Td (fect on available-for) Tj ET Q q 0 0 0 rg BT 377.41 457.80 Td (-sale securities were ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 469.33 457.80 Td ($1) Tj ET Q q 0 0 0 rg BT 479.92 457.80 Td (12,000) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 510.17 457.80 Td ( for the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 95.00 444.60 Td (three months) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 152.13 444.60 Td ( ended ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 183.89 444.60 Td (July 2, 2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 237.98 444.60 Td (.) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 50.00 417.35 Td (17. Stock-Based Compensation) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 395.20 Td (The Company maintains stock incentive plans whereby stock option grants or awards of restricted stock may be ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 381.95 Td (made to certain of) Tj ET Q q 0 0 0 rg BT 129.51 381.95 Td (ficers, directors and key employees. ) Tj ET Q q 0 0 0 rg BT 289.87 381.95 Td (As of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 316.76 381.95 Td (July 2, 2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 370.85 381.95 Td (, the plans, which are shareholder ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 368.75 Td (approved, permit the award of up to ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 210.67 368.75 Td (1,650,000) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 254.67 368.75 Td ( shares of the Company's common stock, of which ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 479.06 368.75 Td (435,706) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 514.81 368.75 Td ( shares ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 355.55 Td (were still available for grant. ) Tj ET Q q 0 0 0 rg BT 179.30 355.55 Td (When options are exercised, new shares of the Company's common stock are issued. ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 342.35 Td (Stock options may not be granted below ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 229.94 342.35 Td (100%) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 255.61 342.35 Td ( of the fair market value of the Company's common stock at the date ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 329.15 Td (of grant and generally expire ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 179.80 329.15 Td (seven years) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 230.81 329.15 Td ( from the date of grant. Stock options and awards of restricted stock ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 315.95 Td (typically vest over a one to ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 171.57 315.95 Td (five) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 188.68 315.95 Td ( year period as determined by the plan administrator \(the Compensation Committee ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 302.75 Td (of the Board of Directors, which consists of independent directors\). ) Tj ET Q q 0 0 0 rg BT 349.16 302.75 Td (The stock incentive plans provide for ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 289.55 Td (accelerated vesting of stock options upon a change in control \(as defined in the plans\).) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 267.35 Td (Stock-based compensation cost char) Tj ET Q q 0 0 0 rg BT 227.56 267.35 Td (ged against income for the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 346.99 267.35 Td (three months ended July 2, 2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 489.97 267.35 Td ( and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 511.35 267.35 Td (June 27, ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 254.15 Td (2015) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 72.00 254.15 Td ( was ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 94.61 254.15 Td ($370,000) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 135.86 254.15 Td ( and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 157.24 254.15 Td ($331,000) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 198.49 254.15 Td (, respectively) Tj ET Q q 0 0 0 rg BT 256.42 254.15 Td (.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 231.95 Td (As of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 94.89 231.95 Td (July 2, 2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 148.97 231.95 Td (, total unrecognized compensation cost related to stock options was approximately ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 514.32 231.95 Td ($2.0 ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 218.75 Td (million) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 81.78 218.75 Td ( and the related weighted-average period over which it is expected to be recognized is approximately ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.32 218.75 Td (2.53 ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 205.55 Td (years) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 73.21 205.55 Td (. ) Tj ET Q endstream endobj 55 0 obj <>] /Rotate 0 /Contents 56 0 R>> endobj 56 0 obj <> stream 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 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (25) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 741.40 Td (The following table summarizes the option activity within the Company's stock-based compensation plans for ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 728.20 Td (the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 66.19 728.20 Td (three months) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 123.32 728.20 Td ( ended ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 155.08 728.20 Td (July 2, 2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 209.17 728.20 Td (:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 690.70 437.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 690.70 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 658.70 437.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 658.70 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 626.70 437.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 626.70 75.00 -16.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 690.7 m 562.5 690.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 690.7 m 562.5 690.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 626.7 m 562.5 626.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 611.7 m 562.5 611.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 609.7 m 562.5 609.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 609.7 m 562.5 609.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 611.7 m 562.5 611.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 595.7 m 562.5 595.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 593.7 m 562.5 593.7 l s BT /F1 11.00 Tf ET q 0 0 0 rg BT 506.45 706.62 Td (Number) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 503.85 695.62 Td (of Shares) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 680.57 Td (Outstanding at April 2, 2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 522.55 679.62 Td (491,980) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 71.00 664.57 Td (Granted) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 533.55 663.62 Td (4,000) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 71.00 648.57 Td (Exercised) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 524.35 647.62 Td (\(92,400) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 558.30 647.62 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 71.00 632.57 Td (Canceled or expired) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 529.85 631.62 Td (\(3,500) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 558.30 631.62 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 616.57 Td (Outstanding at July 2, 2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 522.55 615.62 Td (400,080) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 600.57 Td (Exercisable at July 2, 2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 522.55 599.62 Td (240,125) Tj ET Q BT /F1 10.00 Tf ET BT /F2 11.00 Tf ET q 0 0 0 rg BT 50.00 568.00 Td (18. Earnings Per) Tj ET Q q 0 0 0 rg BT 128.33 568.00 Td ( Shar) Tj ET Q q 0 0 0 rg BT 153.50 568.00 Td (e) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 545.80 Td (Basic earnings per common share is computed based on the weighted-average number of common shares ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 532.60 Td (outstanding during the reporting period. Diluted earnings per common share is computed based on the combination ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 519.40 Td (of dilutive common share equivalents, comprised of shares issuable under the Company's stock-based compensation ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 506.20 Td (plans and the weighted-average number of common shares outstanding during the reporting period. Dilutive ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 493.00 Td (common share equivalents include the dilutive ef) Tj ET Q q 0 0 0 rg BT 266.07 493.00 Td (fect of in-the-money options to purchase shares, which is ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 479.80 Td (calculated based on the average share price for each period using the treasury stock method. ) Tj ET Q q 0 0 0 rg BT 457.24 479.80 Td (The following table ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 466.60 Td (sets forth the computation of basic and diluted earnings per share \(dollars in thousands, except per share amounts\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 413.10 358.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 413.10 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 413.10 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 413.10 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 381.10 358.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 381.10 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 381.10 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 381.10 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 340.10 358.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 340.10 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 340.10 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 340.10 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 308.10 358.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 308.10 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 308.10 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 308.10 75.00 -16.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 440.1 m 483.5 440.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 440.1 m 487.5 440.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 440.1 m 562.5 440.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 413.1 m 483.5 413.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 413.1 m 562.5 413.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 398.1 m 483.5 398.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 396.1 m 483.5 396.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 398.1 m 562.5 398.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 396.1 m 562.5 396.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 340.1 m 483.5 340.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 340.1 m 562.5 340.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 325.1 m 483.5 325.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 323.1 m 483.5 323.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 325.1 m 562.5 325.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 323.1 m 562.5 323.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 293.1 m 483.5 293.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 291.1 m 483.5 291.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 293.1 m 562.5 293.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 291.1 m 562.5 291.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 277.1 m 483.5 277.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 275.1 m 483.5 275.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 277.1 m 562.5 277.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 275.1 m 562.5 275.1 l s BT /F1 11.00 Tf ET q 0 0 0 rg BT 438.55 445.02 Td (Three Months Ended) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 430.80 429.02 Td (July 2,) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 434.50 418.02 Td (2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 506.15 429.02 Td (June 27,) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 513.50 418.02 Td (2015) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 402.97 Td (Net income) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 411.00 402.02 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 454.55 402.02 Td (5,443) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 490.00 402.02 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 533.55 402.02 Td (5,385) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 386.97 Td (Weighted average shares outstanding:) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 71.00 370.97 Td (Basic) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 435.25 370.02 Td (8,937,265) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 514.25 370.02 Td (8,863,648) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 71.00 354.97 Td (Common stock equivalentstreasury stock method) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 443.55 345.02 Td (147,777) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 522.55 345.02 Td (156,613) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 71.00 329.97 Td (Diluted) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 435.25 329.02 Td (9,085,042) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 514.25 329.02 Td (9,020,261) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 313.97 Td (Net income per share:) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 71.00 297.97 Td (Basic) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 411.00 297.02 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 460.05 297.02 Td (0.61) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 490.00 297.02 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 539.05 297.02 Td (0.61) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 71.00 281.97 Td (Diluted) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 411.00 281.02 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 460.05 281.02 Td (0.60) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 490.00 281.02 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 539.05 281.02 Td (0.60) Tj ET Q BT /F1 10.00 Tf ET BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 254.40 Td (There were ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 120.52 254.40 Td (2,147) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 145.27 254.40 Td ( and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 166.65 254.40 Td (14,71) Tj ET Q q 0 0 0 rg BT 190.99 254.40 Td (1) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 196.49 254.40 Td ( anti-dilutive common stock equivalents excluded from the computation of diluted ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 241.20 Td (earnings per share for the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 164.53 241.20 Td (three months ended July 2, 2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 307.51 241.20 Td ( and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 328.89 241.20 Td (June 27, 2015) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 390.31 241.20 Td (, respectively) Tj ET Q q 0 0 0 rg BT 448.23 241.20 Td (.) Tj ET Q endstream endobj 57 0 obj <>] /Rotate 0 /Contents 58 0 R>> endobj 58 0 obj <> stream 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 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (26) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 50.00 741.60 Td (19. Fair) Tj ET Q q 0 0 0 rg BT 86.46 741.60 Td ( ) Tj ET Q q 0 0 0 rg BT 89.01 741.60 Td (V) Tj ET Q q 0 0 0 rg BT 95.94 741.60 Td (alue Measur) Tj ET Q q 0 0 0 rg BT 154.10 741.60 Td (ements) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 719.40 Td (The book value and estimated fair value of the Company's financial instruments are as follows \(in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 665.90 200.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 250.50 665.90 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 325.50 665.90 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 329.50 665.90 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 665.90 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 665.90 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 665.90 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 665.90 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 633.90 200.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 250.50 633.90 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 325.50 633.90 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 329.50 633.90 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 633.90 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 633.90 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 633.90 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 633.90 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 590.90 200.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 250.50 590.90 75.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 325.50 590.90 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 329.50 590.90 75.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 590.90 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 590.90 75.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 590.90 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 590.90 75.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 547.90 200.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 250.50 547.90 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 325.50 547.90 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 329.50 547.90 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 547.90 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 547.90 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 547.90 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 547.90 75.00 -16.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 250.5 692.9 m 325.5 692.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 325.5 692.9 m 329.5 692.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 329.5 692.9 m 404.5 692.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 692.9 m 483.5 692.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 692.9 m 487.5 692.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 692.9 m 562.5 692.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 250.5 665.9 m 325.5 665.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 329.5 665.9 m 404.5 665.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 665.9 m 483.5 665.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 665.9 m 562.5 665.9 l s BT /F1 11.00 Tf ET q 0 0 0 rg BT 299.95 697.82 Td (July 2, 2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 455.50 697.82 Td (April 2, 2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 275.55 681.82 Td (Book) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 274.95 670.82 Td (V) Tj ET Q q 0 0 0 rg BT 281.67 670.82 Td (alue) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 344.50 681.82 Td (Estimated) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 343.80 670.82 Td (Fair ) Tj ET Q q 0 0 0 rg BT 364.07 670.82 Td (V) Tj ET Q q 0 0 0 rg BT 370.80 670.82 Td (alue) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 433.55 681.82 Td (Book) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 432.95 670.82 Td (V) Tj ET Q q 0 0 0 rg BT 439.67 670.82 Td (alue) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 502.50 681.82 Td (Estimated) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 501.80 670.82 Td (Fair) Tj ET Q q 0 0 0 rg BT 522.07 670.82 Td (V) Tj ET Q q 0 0 0 rg BT 528.80 670.82 Td (alue) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 655.77 Td (Available-for-sale securities\(1\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 253.00 654.82 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 291.05 654.82 Td (23,763) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 332.00 654.82 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 370.05 654.82 Td (23,763) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 411.00 654.82 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.05 654.82 Td (24,247) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 490.00 654.82 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.05 654.82 Td (24,247) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 639.77 Td (Non-marketable equity investments \(2\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 291.05 638.82 Td (14,764) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 370.05 638.82 Td (14,764) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.05 638.82 Td (14,841) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.05 638.82 Td (14,841) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 623.77 Td (Consumer loans receivable\(3\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 291.05 622.82 Td (88,434) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 364.55 622.82 Td (125,344) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.05 622.82 Td (89,558) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 522.55 622.82 Td (126,077) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 607.77 Td (Interest rate lock commitment) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 62.00 596.77 Td (derivatives\(4\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 310.30 595.82 Td (36) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 389.30 595.82 Td (36) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 473.80 595.82 Td (8) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 552.80 595.82 Td (8) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 580.77 Td (Forward loan sale commitment) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 62.00 569.77 Td (derivatives\(4\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 306.60 568.82 Td (\(75) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 321.30 568.82 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 385.60 568.82 Td (\(75) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 400.30 568.82 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 464.60 568.82 Td (\(31) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 479.30 568.82 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 543.60 568.82 Td (\(31) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 558.30 568.82 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 553.77 Td (Commercial loans receivable\(5\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 291.05 552.82 Td (27,107) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 370.05 552.82 Td (27,238) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.05 552.82 Td (25,542) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.05 552.82 Td (25,688) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 537.77 Td (Securitized financings\(6\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 287.35 536.82 Td (\(59,467) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 321.30 536.82 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 366.35 536.82 Td (\(58,576) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 400.30 536.82 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 445.35 536.82 Td (\(61,171) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 479.30 536.82 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 524.35 536.82 Td (\(60,220) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 558.30 536.82 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 521.77 Td (Mortgage servicing rights\(7\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 304.80 520.82 Td (865) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 383.80 520.82 Td (865) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 462.80 520.82 Td (803) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 541.80 520.82 Td (803) Tj ET Q BT /F1 10.00 Tf ET BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 494.20 Td (\(1\) ) Tj ET Q q 0 0 0 rg BT 90.50 494.20 Td (The fair value is based on quoted market prices.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 481.00 Td (\(2\) ) Tj ET Q q 0 0 0 rg BT 90.50 481.00 Td (The fair value approximates book value based on the non-marketable nature of the investments.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 467.80 Td (\(3\) ) Tj ET Q q 0 0 0 rg BT 90.50 467.80 Td (Includes consumer loans receivable held for investment, held for sale and construction advances. ) Tj ET Q q 0 0 0 rg BT 519.46 467.80 Td (The fair ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 90.50 454.60 Td (value of the loans held for investment is based on the discounted value of the remaining principal and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 90.50 441.40 Td (interest cash flows. ) Tj ET Q q 0 0 0 rg BT 177.67 441.40 Td (The fair value of the loans held for sale are estimated based on recent GSE mortgage ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 90.50 428.20 Td (backed bond prices. ) Tj ET Q q 0 0 0 rg BT 180.71 428.20 Td (The fair value of the construction advances approximates book value and the sales ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 90.50 415.00 Td (price of these loans is estimated based on construction completed.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 401.80 Td (\(4\) ) Tj ET Q q 0 0 0 rg BT 90.50 401.80 Td (The fair values are based on changes in GSE mortgage backed bond prices and, additionally for IRLCs, ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 90.50 388.60 Td (pull through rates.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 375.40 Td (\(5\) ) Tj ET Q q 0 0 0 rg BT 90.50 375.40 Td (The fair value is estimated using market interest rates of comparable loans.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 362.20 Td (\(6\) ) Tj ET Q q 0 0 0 rg BT 90.50 362.20 Td (The fair value is estimated using recent public transactions of similar asset-backed securities.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 349.00 Td (\(7\) ) Tj ET Q q 0 0 0 rg BT 90.50 349.00 Td (The fair value of the mortgage servicing rights is based on the present value of expected net cash flows ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 90.50 335.80 Td (related to servicing these loans.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 313.60 Td (In accordance with ) Tj ET Q q 0 0 0 rg BT 153.82 313.60 Td (ASC 820, ) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 199.97 313.60 Td (Fair V) Tj ET Q q 0 0 0 rg BT 227.77 313.60 Td (alue Measur) Tj ET Q q 0 0 0 rg BT 282.66 313.60 Td (ements and Disclosur) Tj ET Q q 0 0 0 rg BT 377.58 313.60 Td (es) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 386.74 313.60 Td ( \("ASC 820"\), fair value is defined as ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 300.40 Td (the exchange price that would be received for an asset or paid to transfer a liability \(an exit price\) in the principal or ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 287.20 Td (most advantageous market for the asset or liability in an orderly transaction between market participants on the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 274.00 Td (measurement date. ) Tj ET Q q 0 0 0 rg BT 134.61 274.00 Td (ASC 820 also establishes a fair value hierarchy which requires an entity to maximize the use of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 260.80 Td (observable inputs and minimize the use of unobservable inputs when measuring fair value. ) Tj ET Q q 0 0 0 rg BT 451.81 260.80 Td (The standard describes ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 247.60 Td (three levels of inputs that may be used to measure fair value:) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 226.97 Td (Level1) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 103.00 226.97 Td (Quoted prices in active markets for identical assets or liabilities.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 211.97 Td (Level2) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 103.00 211.97 Td (Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities;) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 103.00 200.97 Td (quoted prices in markets that are not active; or other inputs that are observable or can be corroborated) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 103.00 190.02 Td (by observable market data for substantially the full term of the assets or liabilities.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 176.97 Td (Level3) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 103.00 176.97 Td (Unobservable inputs that are supported by little or no market activity and that are significant to the fair) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 103.00 165.97 Td (value of the assets or liabilities.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 140.40 Td (The Company utilizes the market approach to measure fair value for its financial assets and liabilities. ) Tj ET Q q 0 0 0 rg BT 518.96 140.40 Td (The ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 127.20 Td (market approach uses prices and other relevant information generated by market transactions involving identical or ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 114.00 Td (comparable assets or liabilities.) Tj ET Q endstream endobj 59 0 obj <>] /Rotate 0 /Contents 60 0 R>> endobj 60 0 obj <> stream 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 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (27) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 741.40 Td (When the Company uses observable market prices for identical securities that are traded in less active markets, ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 728.20 Td (it classifies such securities as Level 2. ) Tj ET Q q 0 0 0 rg BT 219.64 728.20 Td (When observable market prices for identical securities are not available, the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 715.00 Td (Company prices its marketable debt instruments using non-binding market consensus prices that are corroborated ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 701.80 Td (with observable market data; quoted market prices for similar instruments; or pricing models, such as a discounted ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 688.60 Td (cash flow model, with all significant inputs derived from or corroborated with observable market data. Non-binding ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 675.40 Td (market consensus prices are based on the proprietary valuation models of pricing providers or brokers. ) Tj ET Q q 0 0 0 rg BT 503.72 675.40 Td (These ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 662.20 Td (valuation models incorporate a number of inputs, including non-binding and binding broker quotes; observable ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 649.00 Td (market prices for identical or similar securities; and the internal assumptions of pricing providers or brokers that use ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 635.80 Td (observable market inputs and, to a lesser degree, unobservable market inputs.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 613.60 Td (Financial instruments measured at fair value on a recurring basis are summarized below \(in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 571.10 200.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 250.50 571.10 75.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 325.50 571.10 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 329.50 571.10 75.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 571.10 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 571.10 75.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 571.10 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 571.10 75.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 528.10 200.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 250.50 528.10 75.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 325.50 528.10 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 329.50 528.10 75.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 528.10 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 528.10 75.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 528.10 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 528.10 75.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 485.10 200.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 250.50 485.10 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 325.50 485.10 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 329.50 485.10 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 485.10 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 485.10 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 485.10 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 485.10 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 442.10 200.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 250.50 442.10 75.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 325.50 442.10 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 329.50 442.10 75.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 442.10 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 442.10 75.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 442.10 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 442.10 75.00 -27.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 250.5 587.1 m 325.5 587.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 325.5 587.1 m 329.5 587.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 329.5 587.1 m 404.5 587.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404.5 587.1 m 408.5 587.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 587.1 m 483.5 587.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 587.1 m 487.5 587.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 587.1 m 562.5 587.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 250.5 571.1 m 325.5 571.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 329.5 571.1 m 404.5 571.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 571.1 m 483.5 571.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 571.1 m 562.5 571.1 l s BT /F1 11.00 Tf ET q 0 0 0 rg BT 378.95 592.02 Td (July 2, 2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 276.25 576.02 Td (Total) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 349.85 576.02 Td (Level 1) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 428.85 576.02 Td (Level 2) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 507.85 576.02 Td (Level3) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 560.97 Td (Securities issued by the U.S Treasury and) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 62.00 549.97 Td (Government\(1\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 253.00 549.02 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 304.80 549.02 Td (651) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 332.00 549.02 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 389.30 549.02 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 411.00 549.02 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 462.80 549.02 Td (651) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 490.00 549.02 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 547.30 549.02 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 533.97 Td (Mortgage-backed securities\(1\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 296.55 533.02 Td (5,650) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 389.30 533.02 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 454.55 533.02 Td (5,650) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 547.30 533.02 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 517.97 Td (Securities issued by states and political) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 62.00 506.97 Td (subdivisions\(1\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 296.55 506.02 Td (8,140) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 389.30 506.02 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 454.55 506.02 Td (8,140) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 547.30 506.02 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 490.97 Td (Corporate debt securities\(1\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 304.80 490.02 Td (916) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 389.30 490.02 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 462.80 490.02 Td (916) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 547.30 490.02 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 474.97 Td (Marketable equity securities\(1\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 296.55 474.02 Td (7,406) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 375.55 474.02 Td (7,406) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 468.30 474.02 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 547.30 474.02 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 458.97 Td (Interest rate lock commitment) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 62.00 447.97 Td (derivatives\(2\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 310.30 447.02 Td (36) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 389.30 447.02 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 468.30 447.02 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 547.30 447.02 Td (36) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 431.97 Td (Forward loan sale commitment) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 62.00 420.97 Td (derivatives\(2\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 306.60 420.02 Td (\(75) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 321.30 420.02 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 389.30 420.02 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 468.30 420.02 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 543.60 420.02 Td (\(75) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 558.30 420.02 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 404.97 Td (Mortgage servicing rights\(3\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 304.80 404.02 Td (865) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 389.30 404.02 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 468.30 404.02 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 541.80 404.02 Td (865) Tj ET Q BT /F1 10.00 Tf ET BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 377.40 Td (\(1\) ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 90.50 377.40 Td (Unrealized gains or losses on investments are recorded in accumulated other comprehensive income \(loss\) ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 90.50 364.20 Td (at each measurement date.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 351.00 Td (\(2\) ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 90.50 351.00 Td (Gains or losses on derivatives are recognized in current period earnings through cost of sales.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 337.80 Td (\(3\) ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 90.50 337.80 Td (Changes in the fair value of mortgage servicing rights are recognized in the current period earnings ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 90.50 324.60 Td (through net revenue.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 302.40 Td (No) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 81.44 302.40 Td ( transfers between Level 1, Level 2 or Level 3 occurred during the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 375.88 302.40 Td (three months) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 433.00 302.40 Td ( ended ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 464.77 302.40 Td (July 2, 2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 518.85 302.40 Td (. ) Tj ET Q q 0 0 0 rg BT 524.16 302.40 Td (The ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 289.20 Td (Company's policy regarding the recording of transfers between levels is to record any such transfers at the end of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 276.00 Td (the reporting period.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 253.80 Td (Financial instruments for which fair value is disclosed but not required to be recognized in the balance sheet on ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 240.60 Td (a recurring basis are summarized below \(in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 198.10 200.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 250.50 198.10 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 325.50 198.10 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 329.50 198.10 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 198.10 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 198.10 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 198.10 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 198.10 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 166.10 200.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 250.50 166.10 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 325.50 166.10 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 329.50 166.10 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 166.10 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 166.10 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 166.10 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 166.10 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 134.10 200.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 250.50 134.10 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 325.50 134.10 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 329.50 134.10 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 134.10 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 134.10 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 134.10 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 134.10 75.00 -16.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 250.5 214.10000000000002 m 325.5 214.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 325.5 214.10000000000002 m 329.5 214.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 329.5 214.10000000000002 m 404.5 214.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404.5 214.10000000000002 m 408.5 214.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 214.10000000000002 m 483.5 214.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 214.10000000000002 m 487.5 214.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 214.10000000000002 m 562.5 214.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 250.5 198.10000000000002 m 325.5 198.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 329.5 198.10000000000002 m 404.5 198.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 198.10000000000002 m 483.5 198.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 198.10000000000002 m 562.5 198.10000000000002 l s BT /F1 11.00 Tf ET q 0 0 0 rg BT 378.95 219.02 Td (July 2, 2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 276.25 203.02 Td (Total) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 349.85 203.02 Td (Level 1) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 428.85 203.02 Td (Level 2) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 507.85 203.02 Td (Level 3) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 187.97 Td (Loans held for investment) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 253.00 187.02 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 285.55 187.02 Td (108,650) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 332.00 187.02 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 389.30 187.02 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 411.00 187.02 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 468.30 187.02 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 490.00 187.02 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 522.55 187.02 Td (108,650) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 171.97 Td (Loans held for sale) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 291.05 171.02 Td (11,009) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 389.30 171.02 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.05 171.02 Td (11,009) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 547.30 171.02 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 155.97 Td (Loans heldconstruction advances) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 296.55 155.02 Td (5,685) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 389.30 155.02 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 468.30 155.02 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 533.55 155.02 Td (5,685) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 139.97 Td (Commercial loans receivable) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 291.05 139.02 Td (27,238) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 389.30 139.02 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 468.30 139.02 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.05 139.02 Td (27,238) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 123.97 Td (Securitized financings) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 287.35 123.02 Td (\(58,576) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 321.30 123.02 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 389.30 123.02 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 445.35 123.02 Td (\(58,576) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 479.30 123.02 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 547.30 123.02 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 107.97 Td (Non-marketable equity investments) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 291.05 107.02 Td (14,764) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 389.30 107.02 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 468.30 107.02 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.05 107.02 Td (14,764) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 61 0 obj <>] /Rotate 0 /Contents 62 0 R>> endobj 62 0 obj <> stream 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 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (28) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 741.40 Td (Financial instruments measured on a nonrecurring basis also include impaired loans \(nonaccrual loans\) and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 728.20 Td (loans held for sale. No recent sales have been executed in an orderly market of manufactured home loan portfolios ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 715.00 Td (with comparable product features, credit characteristics or performance. Impaired loans are measured using Level 3 ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 701.80 Td (inputs that are calculated using estimated discounted future cash flows with discount rates considered to reflect ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 688.60 Td (current market conditions. Loans held for sale are measured at the lower of cost or fair value using Level 2 inputs ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 675.40 Td (that consist of commitments on hand from investors. ) Tj ET Q q 0 0 0 rg BT 284.13 675.40 Td (These loans are held for relatively short periods, typically no ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 662.20 Td (more than ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 97.04 662.20 Td (45 days) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 130.95 662.20 Td (. ) Tj ET Q q 0 0 0 rg BT 135.85 662.20 Td (As a result, changes in loan-specific credit risk are not a significant component of the change in ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 649.00 Td (fair value. ) Tj ET Q q 0 0 0 rg BT 97.14 649.00 Td (The cost of loans held for sale is lower than the fair value as of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 376.63 649.00 Td (July 2, 2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 430.71 649.00 Td (.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 626.80 Td (ASC 825, ) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 114.15 626.80 Td (Financial Instruments) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 211.61 626.80 Td ( \("ASC 825"\), requires disclosure of fair value information about financial ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 613.60 Td (instruments, whether or not recognized in the balance sheet, for which it is practicable to estimate fair value. Fair ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 600.40 Td (value estimates are made as of a specific point in time based on the characteristics of the financial instruments and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 587.20 Td (the relevant market information. ) Tj ET Q q 0 0 0 rg BT 194.89 587.20 Td (Where available, quoted market prices are used. In other cases, fair values are ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 574.00 Td (based on estimates using other valuation techniques. ) Tj ET Q q 0 0 0 rg BT 283.19 574.00 Td (These techniques involve uncertainties and are significantly ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 560.80 Td (af) Tj ET Q q 0 0 0 rg BT 58.35 560.80 Td (fected by the assumptions used and the judgments made regarding risk characteristics of various financial ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 547.60 Td (instruments, discount rates, estimates of future cash flows, future expected loss experience and other factors. ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 534.40 Td (Changes in assumptions could significantly af) Tj ET Q q 0 0 0 rg BT 252.36 534.40 Td (fect these estimates and the resulting fair values. Derived fair value ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 521.20 Td (estimates cannot be substantiated by comparison to independent markets and, in many cases, could not be realized ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 508.00 Td (in an immediate sale of the instrument. ) Tj ET Q q 0 0 0 rg BT 223.51 508.00 Td (Also, because of dif) Tj ET Q q 0 0 0 rg BT 311.29 508.00 Td (ferences in methodologies and assumptions used to ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 494.80 Td (estimate fair values, the Company's fair values should not be compared to those of other companies.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 472.60 Td (Under ) Tj ET Q q 0 0 0 rg BT 97.63 472.60 Td (ASC 825, fair value estimates are based on existing financial instruments without attempting to estimate ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 459.40 Td (the value of anticipated future business and the value of assets and liabilities that are not considered financial ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 446.20 Td (instruments. ) Tj ET Q q 0 0 0 rg BT 106.22 446.20 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 160.49 446.20 Td (, the aggregate fair value amounts presented do not represent the underlying market value ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 433.00 Td (of the Company) Tj ET Q q 0 0 0 rg BT 120.16 433.00 Td (.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 410.80 Td (The Company records impairment losses on long-lived assets held for sale when the fair value of such long-) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 397.60 Td (lived assets is below their carrying values. ) Tj ET Q q 0 0 0 rg BT 238.58 397.60 Td (The Company records impairment char) Tj ET Q q 0 0 0 rg BT 411.27 397.60 Td (ges on long-lived assets used in ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 384.40 Td (operations when events and circumstances indicate that long-lived assets might be impaired and the undiscounted ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 371.20 Td (cash flows estimated to be generated by those assets are less than their carrying amounts. ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 444.66 371.20 Td (No) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 458.10 371.20 Td ( impairment char) Tj ET Q q 0 0 0 rg BT 533.04 371.20 Td (ges ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 358.00 Td (were recorded during the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 163.00 358.00 Td (three months) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 220.13 358.00 Td ( ended ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 251.89 358.00 Td (July 2, 2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 305.98 358.00 Td (.) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 68.00 335.80 Td (Mortgage Servicing) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 155.67 335.80 Td (. Mortgage Servicing Rights \("MSRs"\) are the rights to receive a portion of the interest ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 322.60 Td (coupon and fees collected from the mortgagors for performing specified mortgage servicing activities, which ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 309.40 Td (consist of collecting loan payments, remitting principal and interest payments to investors, managing escrow ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 296.20 Td (accounts, performing loss mitigation activities on behalf of investors and otherwise administering the loan servicing ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 283.00 Td (portfolio. MSRs are initially recorded at fair value. Changes in fair value subsequent to the initial capitalization are ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 269.80 Td (recorded in the Company's results of operations. ) Tj ET Q q 0 0 0 rg BT 265.01 269.80 Td (The Company recognizes MSRs on all loans sold to investors that ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 256.60 Td (meet the requirements for sale accounting and for which servicing rights are retained.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 234.40 Td (The Company applies fair value accounting to MSRs, with all changes in fair value recorded to net revenue in ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 221.20 Td (accordance with ) Tj ET Q q 0 0 0 rg BT 123.91 221.20 Td (ASC 860-50, ) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 184.72 221.20 Td (Servicing ) Tj ET Q q 0 0 0 rg BT 228.81 221.20 Td (Assets and Liabilities) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 322.93 221.20 Td (. ) Tj ET Q q 0 0 0 rg BT 328.23 221.20 Td (The fair value of MSRs is based on the present value ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 208.00 Td (of the expected future cash flows related to servicing these loans. ) Tj ET Q q 0 0 0 rg BT 339.36 208.00 Td (The revenue components of the cash flows are ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 194.80 Td (servicing fees, interest earned on custodial accounts and other ancillary income. ) Tj ET Q q 0 0 0 rg BT 403.80 194.80 Td (The expense components include ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 181.60 Td (operating costs related to servicing the loans \(including delinquency and foreclosure costs\) and interest expenses on ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 168.40 Td (servicer advances that the Company believes are consistent with the assumptions major market participants use in ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 155.20 Td (valuing MSRs. ) Tj ET Q q 0 0 0 rg BT 118.56 155.20 Td (The expected cash flows are primarily impacted by prepayment estimates, delinquencies and market ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 142.00 Td (discounts. Generally) Tj ET Q q 0 0 0 rg BT 139.71 142.00 Td (, the value of MSRs is expected to increase when interest rates rise and decrease when interest ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 128.80 Td (rates decline, due to the ef) Tj ET Q q 0 0 0 rg BT 165.25 128.80 Td (fect those changes in interest rates have on prepayment estimates. Other factors noted ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 115.60 Td (above as well as the overall market demand for MSRs may also af) Tj ET Q q 0 0 0 rg BT 341.22 115.60 Td (fect the valuation.) Tj ET Q endstream endobj 63 0 obj <>] /Rotate 0 /Contents 64 0 R>> endobj 64 0 obj <> stream 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 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (29) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 723.50 358.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 407.50 723.50 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 723.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 723.50 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 693.50 358.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 407.50 693.50 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 693.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 693.50 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 663.50 358.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 407.50 663.50 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 663.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 663.50 75.00 -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 407.5 723.5 m 482.5 723.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 723.5 m 561.5 723.5 l s BT /F1 11.00 Tf ET q 0 0 0 rg BT 429.80 738.37 Td (July 2,) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 433.50 727.37 Td (2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 506.35 738.37 Td (April 2,) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 512.50 727.37 Td (2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.00 713.37 Td (Number of loans serviced with MSRs) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 448.05 713.37 Td (3,822) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 527.05 713.37 Td (3,728) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.00 698.37 Td (Weighted average servicing fee \(basis points\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 448.05 698.37 Td (30.56) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 527.05 698.37 Td (30.43) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.00 683.37 Td (Capitalized servicing multiple) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 448.05 683.37 Td (64.14) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 472.80 683.37 Td (%) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 527.05 683.37 Td (61.65) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 551.80 683.37 Td (%) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.00 668.37 Td (Capitalized servicing rate \(basis points\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 448.05 668.37 Td (19.60) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 527.05 668.37 Td (18.76) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.00 653.37 Td (Serviced portfolio with MSRs \(in thousands\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 410.00 653.37 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 437.00 653.37 Td (441,480) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 489.00 653.37 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 516.00 653.37 Td (428,324) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.00 638.37 Td (Mortgage servicing rights \(in thousands\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 410.00 638.37 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 456.30 638.37 Td (865) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 489.00 638.37 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 535.30 638.37 Td (803) Tj ET Q BT /F1 10.00 Tf ET BT /F2 11.00 Tf ET q 0 0 0 rg BT 50.00 606.80 Td (20. Business Segment Information) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 584.60 Td (The Company operates principally in ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 234.48 584.60 Td (two) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 250.98 584.60 Td ( segments: \(1\)factory-built housing, which includes wholesale and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 571.40 Td (retail systems-built housing operations and \(2\)financial services, which includes manufactured housing consumer ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 558.20 Td (finance and insurance. ) Tj ET Q q 0 0 0 rg BT 151.20 558.20 Td (The following table details net revenue and income before income taxes by segment \(in ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 545.00 Td (thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 491.50 358.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 491.50 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 491.50 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 491.50 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 459.50 358.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 459.50 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 459.50 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 459.50 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 427.50 358.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 427.50 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 427.50 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 427.50 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 395.50 358.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 395.50 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 395.50 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 395.50 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 363.50 358.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 363.50 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 363.50 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 363.50 75.00 -16.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 518.5 m 483.5 518.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 518.5 m 487.5 518.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 518.5 m 562.5 518.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 491.5 m 483.5 491.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 491.5 m 562.5 491.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 443.5 m 483.5 443.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 443.5 m 562.5 443.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 428.5 m 483.5 428.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 426.5 m 483.5 426.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 428.5 m 562.5 428.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 426.5 m 562.5 426.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 363.5 m 483.5 363.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 348.5 m 483.5 348.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 346.5 m 483.5 346.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 363.5 m 562.5 363.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 348.5 m 562.5 348.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 346.5 m 562.5 346.5 l s BT /F1 11.00 Tf ET q 0 0 0 rg BT 438.55 523.42 Td (Three Months Ended) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 430.80 507.42 Td (July 2,) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 434.50 496.42 Td (2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 506.15 507.42 Td (June 27,) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 513.50 496.42 Td (2015) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 481.37 Td (Net revenue:) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 71.00 465.37 Td (Factory-built housing) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 411.00 464.42 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 443.55 464.42 Td (172,486) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 490.00 464.42 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 522.55 464.42 Td (147,546) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 71.00 449.37 Td (Financial services) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.05 448.42 Td (12,655) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.05 448.42 Td (14,122) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 411.00 432.42 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 443.55 432.42 Td (185,141) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 490.00 432.42 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 522.55 432.42 Td (161,668) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 401.37 Td (Income before income taxes:) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 71.00 385.37 Td (Factory-built housing) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 411.00 384.42 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.05 384.42 Td (10,738) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 490.00 384.42 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 533.55 384.42 Td (8,004) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 71.00 369.37 Td (Financial services) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 450.85 368.42 Td (\(2,308) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 479.30 368.42 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 541.80 368.42 Td (628) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 411.00 352.42 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 454.55 352.42 Td (8,430) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 490.00 352.42 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 533.55 352.42 Td (8,632) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 65 0 obj <>] /Rotate 0 /Contents 66 0 R>> endobj 66 0 obj <> stream 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 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (30) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 741.60 Td (Item 2. Management's Discussion and ) Tj ET Q q 0 0 0 rg BT 229.18 741.60 Td (Analysis of Financial Condition and Results of Operations) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 719.40 Td (Intr) Tj ET Q q 0 0 0 rg BT 68.25 719.40 Td (oduction) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 67.50 697.20 Td (The following should be read in conjunction with Cavco Industries, Inc. and its subsidiaries' \(collectively) Tj ET Q q 0 0 0 rg BT 530.05 697.20 Td (, the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 684.00 Td ("Company" or "Cavco"\) Consolidated Financial Statements and the related Notes that appear in Item 1 of this ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 670.80 Td (Report. References to "Note" or "Notes" pertain to the Notes to the Company's Consolidated Financial Statements.) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 648.60 Td (Overview) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 67.50 626.40 Td (Headquartered in Phoenix, ) Tj ET Q q 0 0 0 rg BT 187.24 626.40 Td (Arizona, the Company designs and produces factory-built homes primarily ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 613.20 Td (distributed through a network of independent and Company-owned retailers. ) Tj ET Q q 0 0 0 rg BT 388.99 613.20 Td (W) Tj ET Q q 0 0 0 rg BT 398.49 613.20 Td (e are the second lar) Tj ET Q q 0 0 0 rg BT 483.19 613.20 Td (gest producer of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 600.00 Td (manufactured homes in the United States, based on reported wholesale shipments, marketed under a variety of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 586.80 Td (brand names, including Cavco Homes, Fleetwood Homes, Palm Harbor Homes, Fairmont Homes and Chariot ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 573.60 Td (Eagle. ) Tj ET Q q 0 0 0 rg BT 79.84 573.60 Td (The Company is also a leading builder of park model R) Tj ET Q q 0 0 0 rg BT 323.35 573.60 Td (Vs, vacation cabins and systems-built commercial ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 560.40 Td (structures, as well as modular homes built primarily under the Nationwide Homes brand. Cavco's mortgage ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 547.20 Td (subsidiary) Tj ET Q q 0 0 0 rg BT 94.00 547.20 Td (, CountryPlace ) Tj ET Q q 0 0 0 rg BT 161.52 547.20 Td (Acceptance Corp. \("CountryPlace"\), is an approved Federal National Mortgage ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 534.00 Td (Association \("FNMA" or "Fannie Mae"\) and Federal Home Loan Mortgage Corporation \("FHLMC" or "Freddie ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 520.80 Td (Mac"\) seller/servicer) Tj ET Q q 0 0 0 rg BT 141.20 520.80 Td (, and a Government National Mortgage ) Tj ET Q q 0 0 0 rg BT 316.23 520.80 Td (Association \("GNMA" or "Ginnie Mae"\) mortgage ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 507.60 Td (backed securities issuer which of) Tj ET Q q 0 0 0 rg BT 194.70 507.60 Td (fers conforming mortgages, non-conforming mortgages and chattel loans to ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 494.40 Td (purchasers of factory-built and site-built homes. Our insurance subsidiary) Tj ET Q q 0 0 0 rg BT 372.89 494.40 Td (, Standard Casualty Co. \("Standard ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 481.20 Td (Casualty"\), provides property and casualty insurance to owners of manufactured homes.) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 459.00 Td (Company Gr) Tj ET Q q 0 0 0 rg BT 111.33 459.00 Td (owth) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 67.50 436.80 Td (From its inception in 1965, Cavco has traditionally served af) Tj ET Q q 0 0 0 rg BT 334.30 436.80 Td (fordable housing markets in the southwestern ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 423.60 Td (United States primarily through its manufactured home production. During the period from 1997 to 2000, Cavco ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 410.40 Td (was purchased by and became a wholly-owned subsidiary of Centex Corporation, which operated the Company ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 397.20 Td (until 2003, when Cavco became a stand-alone publicly-held Company traded on the NASDAQ Global Select ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 384.00 Td (Market under the ticker symbol CVCO.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 67.50 361.80 Td (In 2009, the Company acquired certain manufactured housing assets and liabilities of Fleetwood Enterprises, ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 348.60 Td (Inc. \("Fleetwood"\). ) Tj ET Q q 0 0 0 rg BT 137.09 348.60 Td (The assets purchased included seven operating production facilities as well as idle factories. ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 335.40 Td (During fiscal year 201) Tj ET Q q 0 0 0 rg BT 147.75 335.40 Td (1, the Company acquired certain manufactured housing assets and liabilities of Palm Harbor ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 322.20 Td (Homes, Inc., a Florida corporation. ) Tj ET Q q 0 0 0 rg BT 206.62 322.20 Td (The assets purchased included five operating production facilities as well as idle ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 309.00 Td (factories, 49 operating retail locations, a manufactured housing finance company and a homeowners insurance ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 295.80 Td (company) Tj ET Q q 0 0 0 rg BT 89.11 295.80 Td (.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 67.50 273.60 Td (On March 30, 2015, the Company purchased the business and operating assets of Chariot Eagle, a Florida-based ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 260.40 Td (manufacturer of park model R) Tj ET Q q 0 0 0 rg BT 181.79 260.40 Td (Vs and manufactured homes. ) Tj ET Q q 0 0 0 rg BT 312.64 260.40 Td (This transaction was accounted for as a business ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 247.20 Td (combination and is expected to expand the Company's of) Tj ET Q q 0 0 0 rg BT 300.56 247.20 Td (fering of park model R) Tj ET Q q 0 0 0 rg BT 400.48 247.20 Td (V) Tj ET Q q 0 0 0 rg BT 408.22 247.20 Td ( product lines and further ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 234.00 Td (strengthen our market position in the Southeastern United States.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 67.50 211.80 Td (On May 1, 2015, Cavco acquired certain assets and liabilities of Fairmont Homes. Fairmont Homes, ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 198.60 Td (headquartered in Nappanee, Indiana, is a builder of manufactured and modular homes and park model R) Tj ET Q q 0 0 0 rg BT 507.70 198.60 Td (Vs, with ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 185.40 Td (manufacturing plants in Indiana and Minnesota. ) Tj ET Q q 0 0 0 rg BT 262.83 185.40 Td (This transaction was accounted for as a business combination and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 172.20 Td (provides additional home production capabilities and increased distribution into new markets in the Midwest, the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 159.00 Td (western Great Plains states, the Northeast and several provinces in Canada.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 67.50 136.80 Td (The Company operates ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 172.27 136.80 Td (19) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 183.27 136.80 Td ( homebuilding facilities located in Millersbur) Tj ET Q q 0 0 0 rg BT 382.56 136.80 Td (g and ) Tj ET Q q 0 0 0 rg BT 409.24 136.80 Td (W) Tj ET Q q 0 0 0 rg BT 418.74 136.80 Td (oodburn, Oregon; Nampa, ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 123.60 Td (Idaho; Riverside, California; Phoenix and Goodyear) Tj ET Q q 0 0 0 rg BT 278.78 123.60 Td (, ) Tj ET Q q 0 0 0 rg BT 283.67 123.60 Td (Arizona; ) Tj ET Q q 0 0 0 rg BT 324.30 123.60 Td (Austin, Fort ) Tj ET Q q 0 0 0 rg BT 380.03 123.60 Td (W) Tj ET Q q 0 0 0 rg BT 389.53 123.60 Td (orth, Seguin and ) Tj ET Q q 0 0 0 rg BT 464.49 123.60 Td (W) Tj ET Q q 0 0 0 rg BT 473.99 123.60 Td (aco, ) Tj ET Q q 0 0 0 rg BT 494.55 123.60 Td (T) Tj ET Q q 0 0 0 rg BT 500.51 123.60 Td (exas; ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 110.40 Td (Montevideo, Minnesota \(2\); Nappanee, Indiana; Lafayette, ) Tj ET Q q 0 0 0 rg BT 311.07 110.40 Td (T) Tj ET Q q 0 0 0 rg BT 317.02 110.40 Td (ennessee; Martinsville and Rocky Mount, ) Tj ET Q q 0 0 0 rg BT 503.17 110.40 Td (V) Tj ET Q q 0 0 0 rg BT 510.46 110.40 Td (ir) Tj ET Q q 0 0 0 rg BT 516.98 110.40 Td (ginia; ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 97.20 Td (Douglas, Geor) Tj ET Q q 0 0 0 rg BT 113.45 97.20 Td (gia; Plant City and Ocala, Florida. ) Tj ET Q q 0 0 0 rg BT 266.62 97.20 Td (The majority of the homes produced are sold to and distributed by ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 84.00 Td (independently owned retailers located primarily throughout the United States and Canada. In addition, our homes ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 70.80 Td (are sold through ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 123.73 70.80 Td (45) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 134.73 70.80 Td ( Company-owned U.S. retail locations.) Tj ET Q endstream endobj 67 0 obj <>] /Rotate 0 /Contents 68 0 R>> endobj 68 0 obj <> stream 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 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (31) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 67.50 741.40 Td (W) Tj ET Q q 0 0 0 rg BT 77.00 741.40 Td (e continually review our product of) Tj ET Q q 0 0 0 rg BT 232.28 741.40 Td (ferings throughout the combined or) Tj ET Q q 0 0 0 rg BT 387.88 741.40 Td (ganization and strive to improve ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 728.20 Td (product designs, production methods and marketing strategies. ) Tj ET Q q 0 0 0 rg BT 327.60 728.20 Td (The supportive market response to the past and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 715.00 Td (recent acquisitions has been encouraging and we believe that these expansions provide positive long-term strategic ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 701.80 Td (benefits for the Company) Tj ET Q q 0 0 0 rg BT 160.90 701.80 Td (. ) Tj ET Q q 0 0 0 rg BT 166.20 701.80 Td (W) Tj ET Q q 0 0 0 rg BT 175.70 701.80 Td (e plan to focus on developing syner) Tj ET Q q 0 0 0 rg BT 331.91 701.80 Td (gies among all operations, which continue to have ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 688.60 Td (significant or) Tj ET Q q 0 0 0 rg BT 107.65 688.60 Td (ganic growth potential.) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 666.40 Td (Industry and Company Outlook) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 67.50 644.20 Td (According to data reported by the Manufactured Housing Institute \("MHI"\), industry home shipments continue ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 631.00 Td (to improve, increasing 19.7% for the first six months of calendar year 2016 compared to the same period in the prior ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 617.80 Td (year) Tj ET Q q 0 0 0 rg BT 67.82 617.80 Td (. During calendar year 2015 our industry shipped approximately ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 353.13 617.80 Td (71,000) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 383.38 617.80 Td ( HUD code manufactured homes, an ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 604.60 Td (increase of 10.9% over the approximately 64,000 homes shipped in 2014. Shipments were 60,000 in 2013, 55,000 ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 591.40 Td (in 2012 and 52,000 in calendar year 201) Tj ET Q q 0 0 0 rg BT 226.26 591.40 Td (1, the lowest levels since shipment statistics began to be recorded in 1959. ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 578.20 Td (Annual home shipments from 2006 to 2015 were less than the annual home shipments for each of the 40 years from ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 565.00 Td (1963 to 2002. For the past 10- and 20-year periods, annual home shipments averaged ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 427.08 565.00 Td (70,000) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 457.33 565.00 Td ( and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 478.71 565.00 Td (158,000) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 514.46 565.00 Td (, ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 551.80 Td (respectively) Tj ET Q q 0 0 0 rg BT 101.93 551.80 Td (. ) Tj ET Q q 0 0 0 rg BT 107.23 551.80 Td (While industry HUD code manufactured home shipments improved modestly during recent years, the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 538.60 Td (manufactured housing industry and the Company are operating at relatively low production and shipment levels.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 67.50 516.40 Td (Although ongoing economic challenges continue to hinder annual industry and Company home sales, we ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 503.20 Td (believe that employment rates and underemployment among potential home buyers who favor af) Tj ET Q q 0 0 0 rg BT 475.12 503.20 Td (fordable housing as ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 490.00 Td (well as low consumer confidence levels are beginning to improve. "First-time" and "move-up" buyers of af) Tj ET Q q 0 0 0 rg BT 520.58 490.00 Td (fordable ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 476.80 Td (homes are historically among the lar) Tj ET Q q 0 0 0 rg BT 209.67 476.80 Td (gest segments of new manufactured home purchasers. Included in this group ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 463.60 Td (are lower) Tj ET Q q 0 0 0 rg BT 90.50 463.60 Td (-income households that were particularly af) Tj ET Q q 0 0 0 rg BT 286.70 463.60 Td (fected by a period of persistently low employment rates and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 450.40 Td (underemployment. Following such challenges, the process of repairing damaged credit among such consumers and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 437.20 Td (ef) Tj ET Q q 0 0 0 rg BT 57.85 437.20 Td (forts to save for a home loan down-payment often require substantial time. Improving consumer confidence in the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 424.00 Td (U.S. economy is evident among manufactured home buyers interested in our products for seasonal or retirement ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 410.80 Td (living that have been concerned about financial stability) Tj ET Q q 0 0 0 rg BT 295.28 410.80 Td (, and appear to be less hesitant to commit to a new home ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 397.60 Td (purchase. ) Tj ET Q q 0 0 0 rg BT 93.89 397.60 Td (W) Tj ET Q q 0 0 0 rg BT 103.39 397.60 Td (e believe sales of our products may continue to increase as employment and consumer confidence levels ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 384.40 Td (continue to improve.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 67.50 362.20 Td (The housing industry is subject to seasonal fluctuations based on new home buyer purchasing patterns. Further) Tj ET Q q 0 0 0 rg BT 554.63 362.20 Td (, ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 349.00 Td (Cavco) Tj ET Q q 0 0 0 rg BT 80.66 349.00 Td (s Company-owned retail stores experience decreased home buyer traf) Tj ET Q q 0 0 0 rg BT 386.50 349.00 Td (fic during holidays and popular ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 335.80 Td (vacation periods. Still, diversification among Cavco) Tj ET Q q 0 0 0 rg BT 281.36 335.80 Td (s product lines and operations have served to partially of) Tj ET Q q 0 0 0 rg BT 530.12 335.80 Td (fset the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 322.60 Td (extent of seasonal fluctuations. Demand for our core single-family new home products typically peaks each spring ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 309.40 Td (and summer before declining in the winter) Tj ET Q q 0 0 0 rg BT 236.00 309.40 Td (, consistent with the overall housing industry) Tj ET Q q 0 0 0 rg BT 432.96 309.40 Td (. Demand patterns for park ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 296.20 Td (model and cabin R) Tj ET Q q 0 0 0 rg BT 131.40 296.20 Td (Vs and homes used primarily for retirement seasonal living partially of) Tj ET Q q 0 0 0 rg BT 443.40 296.20 Td (fset the general housing ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 283.00 Td (seasonality) Tj ET Q q 0 0 0 rg BT 97.66 283.00 Td (.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 67.50 260.80 Td (Cavco) Tj ET Q q 0 0 0 rg BT 98.66 260.80 Td (s mortgage subsidiary experiences minimal seasonal fluctuation in its mortgage origination activities as a ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 247.60 Td (result of the time needed for loan application approval processes and subsequent home loan closing activities. ) Tj ET Q q 0 0 0 rg BT 534.69 247.60 Td (The ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 234.40 Td (mortgage subsidiary realizes no seasonal impacts from its mortgage servicing operations. Revenue for the home ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 221.20 Td (insurance subsidiary is not impacted by seasonality as it recognizes revenue from policy sales ratably over each ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 208.00 Td (policy) Tj ET Q q 0 0 0 rg BT 80.05 208.00 Td (s term year) Tj ET Q q 0 0 0 rg BT 128.31 208.00 Td (. ) Tj ET Q q 0 0 0 rg BT 133.61 208.00 Td (The insurance subsidiary is subject to the ef) Tj ET Q q 0 0 0 rg BT 326.17 208.00 Td (fects of seasonal storms in ) Tj ET Q q 0 0 0 rg BT 444.80 208.00 Td (T) Tj ET Q q 0 0 0 rg BT 450.75 208.00 Td (exas where most of its ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 194.80 Td (policies are underwritten. Spring storm activity typically spikes each ) Tj ET Q q 0 0 0 rg BT 353.76 194.80 Td (April and May) Tj ET Q q 0 0 0 rg BT 417.81 194.80 Td (, the prime season for ) Tj ET Q q 0 0 0 rg BT 515.36 194.80 Td (T) Tj ET Q q 0 0 0 rg BT 521.31 194.80 Td (exas ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 181.60 Td (weather events. During this quarter) Tj ET Q q 0 0 0 rg BT 203.92 181.60 Td (, multiple record setting storms in ) Tj ET Q q 0 0 0 rg BT 354.95 181.60 Td (T) Tj ET Q q 0 0 0 rg BT 360.91 181.60 Td (exas produced high insurance claims volume. ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 168.40 Td (The severity of the hail, wind and flood related damage to insured homes were considerably greater than most ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 155.20 Td (spring storm seasons. Losses from these events were somewhat limited by reinsurance contracts, which responded ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 142.00 Td (as intended as part of the Company) Tj ET Q q 0 0 0 rg BT 207.74 142.00 Td (s loss mitigation structure. ) Tj ET Q q 0 0 0 rg BT 326.39 142.00 Td (While the severity of weather events has and can be ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 128.80 Td (expected to vary over time, the insurance subsidiary is a well-established and time-tested business. ) Tj ET Q q 0 0 0 rg BT 486.12 128.80 Td (The entity has ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 115.60 Td (been a solid performer for the Company over time despite occasional periods of high claims experience.) Tj ET Q endstream endobj 69 0 obj <>] /Rotate 0 /Contents 70 0 R>> endobj 70 0 obj <> stream 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 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (32) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 67.50 741.40 Td (The two lar) Tj ET Q q 0 0 0 rg BT 118.00 741.40 Td (gest manufactured housing consumer demographics, young adults and those who are 55+ years old, ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 728.20 Td (are both growing. ) Tj ET Q q 0 0 0 rg BT 129.95 728.20 Td (The U.S. adult population is estimated to expand by approximately 1) Tj ET Q q 0 0 0 rg BT 432.59 728.20 Td (1.8 million between 2016 ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 715.00 Td (and 2021. ) Tj ET Q q 0 0 0 rg BT 95.22 715.00 Td (Y) Tj ET Q q 0 0 0 rg BT 102.07 715.00 Td (oung adults born from 1976 to 1995, sometimes referred to as Gen ) Tj ET Q q 0 0 0 rg BT 397.68 715.00 Td (Y) Tj ET Q q 0 0 0 rg BT 404.21 715.00 Td (, represent a lar) Tj ET Q q 0 0 0 rg BT 471.80 715.00 Td (ge segment of the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 701.80 Td (population. Late-stage Gen ) Tj ET Q q 0 0 0 rg BT 171.27 701.80 Td (Y) Tj ET Q q 0 0 0 rg BT 178.81 701.80 Td ( is approximately 2million people lar) Tj ET Q q 0 0 0 rg BT 344.19 701.80 Td (ger than the next age category born from 1966 to ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 688.60 Td (1975, Gen X, and is considered to be in the peak home-buying years. Gen ) Tj ET Q q 0 0 0 rg BT 376.87 688.60 Td (Y) Tj ET Q q 0 0 0 rg BT 384.40 688.60 Td ( represents prime first-time home ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 675.40 Td (buyers who may be attracted by the af) Tj ET Q q 0 0 0 rg BT 216.99 675.40 Td (fordability) Tj ET Q q 0 0 0 rg BT 262.71 675.40 Td (, diversity of style choices and location flexibility of factory-built ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 662.20 Td (homes. ) Tj ET Q q 0 0 0 rg BT 83.52 662.20 Td (The age 55 and older category is reported to be the fastest growing segment of the U.S. population. ) Tj ET Q q 0 0 0 rg BT 522.29 662.20 Td (This ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 649.00 Td (group is similarly interested in the value proposition; however) Tj ET Q q 0 0 0 rg BT 322.78 649.00 Td (, they are also motivated by the ener) Tj ET Q q 0 0 0 rg BT 482.02 649.00 Td (gy ef) Tj ET Q q 0 0 0 rg BT 504.12 649.00 Td (ficiency and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 635.80 Td (low maintenance requirements of systems-built homes, and by the lifestyle of) Tj ET Q q 0 0 0 rg BT 390.52 635.80 Td (fered by planned communities that are ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 622.60 Td (specifically designed for homeowners that fall into this age group.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 67.50 600.40 Td (Consumer financing for the retail purchase of manufactured homes needs to become generally more available ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 587.20 Td (before marked emer) Tj ET Q q 0 0 0 rg BT 137.86 587.20 Td (gence from current low home shipment levels can occur) Tj ET Q q 0 0 0 rg BT 384.05 587.20 Td (. Restrictive underwriting guidelines, ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 574.00 Td (irregular and onerous appraisal requirements, higher interest rates compared to site-built homes, regulatory burdens, ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 560.80 Td (a reduced number of institutions lending to manufactured home buyers and limited secondary market availability for ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 547.60 Td (manufactured home loans are significant restraints to industry growth. ) Tj ET Q q 0 0 0 rg BT 360.88 547.60 Td (W) Tj ET Q q 0 0 0 rg BT 370.39 547.60 Td (e are working directly with other industry ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 534.40 Td (participants to develop manufactured home consumer financing models that may better attract industry financiers ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 521.20 Td (interested in furthering or expanding lending opportunities in the industry) Tj ET Q q 0 0 0 rg BT 372.92 521.20 Td (. ) Tj ET Q q 0 0 0 rg BT 378.22 521.20 Td (W) Tj ET Q q 0 0 0 rg BT 387.72 521.20 Td (e have invested in community-based ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 508.00 Td (lending initiatives that provide home-only financing to residents of certain manufactured home communities. ) Tj ET Q q 0 0 0 rg BT 531.95 508.00 Td (W) Tj ET Q q 0 0 0 rg BT 541.45 508.00 Td (e ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 494.80 Td (are also working through industry trade associations to encourage favorable legislative and GSE action to address ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 481.60 Td (the mortgage financing needs of potential buyers of af) Tj ET Q q 0 0 0 rg BT 287.55 481.60 Td (fordable homes. Only limited progress has been made in this ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 468.40 Td (area and meaningful positive impact in the form of increased home orders has yet to be realized. See "Regulatory ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 455.20 Td (Developments" below) Tj ET Q q 0 0 0 rg BT 146.45 455.20 Td (.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 67.50 433.00 Td (While sales activity of existing homes has improved, the current lending environment that favors site-built ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 419.80 Td (housing and more af) Tj ET Q q 0 0 0 rg BT 139.42 419.80 Td (fluent home buyers has not provided improved capabilities for af) Tj ET Q q 0 0 0 rg BT 424.83 419.80 Td (fordable-home buyers to ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 406.60 Td (facilitate a new home purchase. In addition, the contingency contract process, wherein potential manufactured home ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 393.40 Td (buyers must sell their existing home in order to facilitate the purchase of a new factory-built home continues to be ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 380.20 Td (somewhat impeded.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 67.50 358.00 Td (Based on the relatively low cost associated with manufactured home ownership, our products have traditionally ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 344.80 Td (competed with rental housing's monthly payment af) Tj ET Q q 0 0 0 rg BT 277.35 344.80 Td (fordability) Tj ET Q q 0 0 0 rg BT 323.07 344.80 Td (. Rental housing activity is reported to have increased ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 331.60 Td (in recent years. ) Tj ET Q q 0 0 0 rg BT 118.52 331.60 Td (As a result, tenant housing vacancy rates appear to have declined, causing a corresponding rise in ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 318.40 Td (associated rental rates. ) Tj ET Q q 0 0 0 rg BT 151.31 318.40 Td (These rental market factors may cause some renters to become interested buyers of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 305.20 Td (af) Tj ET Q q 0 0 0 rg BT 57.85 305.20 Td (fordable housing alternatives including manufactured homes.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 67.50 283.00 Td (Further) Tj ET Q q 0 0 0 rg BT 99.44 283.00 Td (, with respect to the general rise in demand for rental housing, we have realized a lar) Tj ET Q q 0 0 0 rg BT 470.65 283.00 Td (ger proportion of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 269.80 Td (orders from developers and community owners for new manufactured homes intended for use as rental housing. ) Tj ET Q q 0 0 0 rg BT 545.07 269.80 Td (The ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 256.60 Td (Company is responsive to the unique product and related requirements of these home buyers and values the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 243.40 Td (opportunity to provide homes that are well suited for these purposes.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 67.50 221.20 Td (The backlog of sales orders at ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 201.90 221.20 Td (July 2, 2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 255.98 221.20 Td ( varied among our ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 339.07 221.20 Td (19) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 350.07 221.20 Td ( factories and in total was approximately ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 531.81 221.20 Td ($54.7 ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 208.00 Td (million) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 81.28 208.00 Td (, or approximately ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 164.98 208.00 Td (five) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 182.08 208.00 Td ( weeks of current production levels, compared to ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 399.87 208.00 Td ($72.1 million) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 459.15 208.00 Td ( at ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 472.59 208.00 Td (June 27, 2015) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 534.00 208.00 Td (. ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 194.80 Td (Retailers may cancel orders prior to production without penalty) Tj ET Q q 0 0 0 rg BT 327.98 194.80 Td (. ) Tj ET Q q 0 0 0 rg BT 332.87 194.80 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 387.14 194.80 Td (, until the production of a particular ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 181.60 Td (home has commenced, we do not consider our backlog to be firm orders.) Tj ET Q endstream endobj 71 0 obj <>] /Rotate 0 /Contents 72 0 R>> endobj 72 0 obj <> stream 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 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (33) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 67.50 741.40 Td (The Company has entered into certain commercial loan programs with members of the Company's independent ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 728.20 Td (wholesale distribution chain. Under these programs, the Company provides a significant amount of the funds that ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 715.00 Td (independent financiers then lend to distributors to finance retail inventories of our products. In addition, the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 701.80 Td (Company has entered into direct commercial loan arrangements with distributors, communities and developers ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 688.60 Td (under which the Company provides funds for financing homes \(see Note ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 372.39 688.60 Td (6) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 377.89 688.60 Td ( to the Consolidated Financial ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 675.40 Td (Statements\). ) Tj ET Q q 0 0 0 rg BT 106.73 675.40 Td (The Company's involvement in commercial loans has increased the availability of manufactured home ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 662.20 Td (financing to distributors and users of our products. ) Tj ET Q q 0 0 0 rg BT 274.46 662.20 Td (W) Tj ET Q q 0 0 0 rg BT 283.96 662.20 Td (e believe that our participation in wholesale financing is ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 649.00 Td (helpful to retailers, communities and developers and allows our homes continued exposure to potential home ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 635.80 Td (buyers. ) Tj ET Q q 0 0 0 rg BT 84.13 635.80 Td (These initiatives support the Company's ongoing ef) Tj ET Q q 0 0 0 rg BT 310.15 635.80 Td (forts to expand our distribution base in all of our markets ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 622.60 Td (with existing and new customers. However) Tj ET Q q 0 0 0 rg BT 239.07 622.60 Td (, the initiatives expose the Company to risks associated with the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 609.40 Td (creditworthiness of certain customers and business partners, including independent retailers, developers, ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 596.20 Td (communities and inventory financing partners.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 67.50 574.00 Td (W) Tj ET Q q 0 0 0 rg BT 77.44 574.00 Td (ith manufacturing facilities strategically positioned across the United States, we utilize local market research ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 560.80 Td (to design homes to meet the demands of our customers. ) Tj ET Q q 0 0 0 rg BT 296.45 560.80 Td (W) Tj ET Q q 0 0 0 rg BT 305.95 560.80 Td (e have the ability to customize floor plans and designs to ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 547.60 Td (fulfill specific needs and interests. By of) Tj ET Q q 0 0 0 rg BT 227.39 547.60 Td (fering a full range of homes from entry-level models to lar) Tj ET Q q 0 0 0 rg BT 484.38 547.60 Td (ge custom homes ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 534.40 Td (with the ability to engineer designs in-house, we can accommodate virtually any customer request. In addition to ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 521.20 Td (homes built to the federal HUD code, we construct modular homes that conform to state and local codes, park ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 508.00 Td (models and cabins and light commercial buildings at many of our manufacturing facilities.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 67.50 485.80 Td (W) Tj ET Q q 0 0 0 rg BT 77.00 485.80 Td (e employ a concerted ef) Tj ET Q q 0 0 0 rg BT 181.86 485.80 Td (fort to identify niche market opportunities where our diverse product lines and custom ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 472.60 Td (building capabilities provide us with a competitive advantage. Our green building initiatives involve the creation of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 459.40 Td (an ener) Tj ET Q q 0 0 0 rg BT 81.36 459.40 Td (gy ef) Tj ET Q q 0 0 0 rg BT 103.46 459.40 Td (ficient envelope, including higher utilization of renewable materials. ) Tj ET Q q 0 0 0 rg BT 407.48 459.40 Td (These homes provide ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 446.20 Td (environmentally-friendly maintenance requirements, typically lower utility costs, specially designed ventilation ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 433.00 Td (systems and sustainability) Tj ET Q q 0 0 0 rg BT 163.67 433.00 Td (. Cavco also builds homes designed to use alternative ener) Tj ET Q q 0 0 0 rg BT 420.07 433.00 Td (gy sources, such as solar and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 419.80 Td (wind. Building green may significantly reduce greenhouse gas emissions without sacrificing features, style or ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 406.60 Td (comfort. From bamboo flooring and tankless water heaters to solar) Tj ET Q q 0 0 0 rg BT 343.15 406.60 Td (-powered homes, our products are diverse and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 393.40 Td (tailored to a wide range of consumer interests. Innovation in housing design is a forte of the Company and we ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 380.20 Td (continue to introduce new models at competitive price points with expressive interiors and exteriors that ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 367.00 Td (complement home styles in the areas in which they are located.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 67.50 344.80 Td (W) Tj ET Q q 0 0 0 rg BT 77.00 344.80 Td (e maintain a conservative cost structure, which enables us to build added value into our homes. ) Tj ET Q q 0 0 0 rg BT 497.74 344.80 Td (W) Tj ET Q q 0 0 0 rg BT 507.24 344.80 Td (e have ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 331.60 Td (placed a consistent focus on developing syner) Tj ET Q q 0 0 0 rg BT 250.91 331.60 Td (gies among all operations. In addition, the Company has worked ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 318.40 Td (diligently to maintain a solid financial position. Our balance sheet strength and position in cash and cash equivalents ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 305.20 Td (should help us to avoid liquidity problems and enable us to act ef) Tj ET Q q 0 0 0 rg BT 335.86 305.20 Td (fectively as market opportunities present ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 292.00 Td (themselves.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 67.50 269.80 Td (W) Tj ET Q q 0 0 0 rg BT 77.00 269.80 Td (e were named the 2016 Manufacturer of the ) Tj ET Q q 0 0 0 rg BT 272.06 269.80 Td (Y) Tj ET Q q 0 0 0 rg BT 278.91 269.80 Td (ear by the members of MHI, the factory-built home industry's ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 256.60 Td (national trade or) Tj ET Q q 0 0 0 rg BT 121.38 256.60 Td (ganization, for the seventh consecutive year) Tj ET Q q 0 0 0 rg BT 313.81 256.60 Td (. ) Tj ET Q q 0 0 0 rg BT 319.11 256.60 Td (W) Tj ET Q q 0 0 0 rg BT 328.61 256.60 Td (e also received several product and interior design ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 243.40 Td (awards from MHI.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 67.50 221.20 Td (In 2008, we announced a stock repurchase program, under which a total of $10.0 million may be used to ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 208.00 Td (repurchase our outstanding common stock. ) Tj ET Q q 0 0 0 rg BT 241.15 208.00 Td (The repurchases may be made in the open market or in privately ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 194.80 Td (negotiated transactions in compliance with applicable state and federal securities laws and other legal requirements. ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 181.60 Td (The level of repurchase activity is subject to market conditions and other investment opportunities. ) Tj ET Q q 0 0 0 rg BT 487.05 181.60 Td (The plan does ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 168.40 Td (not obligate us to acquire any particular amount of common stock and may be suspended or discontinued at any ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 155.20 Td (time. ) Tj ET Q q 0 0 0 rg BT 74.35 155.20 Td (The repurchase program will be funded using our available cash. No repurchases have been made under this ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 142.00 Td (program to date.) Tj ET Q endstream endobj 73 0 obj <>] /Rotate 0 /Contents 74 0 R>> endobj 74 0 obj <> stream BT /F1 10.00 Tf ET 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 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (34) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 741.60 Td (Regulatory Developments) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 67.50 719.40 Td (In 2010, the Dodd-Frank ) Tj ET Q q 0 0 0 rg BT 179.42 719.40 Td (W) Tj ET Q q 0 0 0 rg BT 188.92 719.40 Td (all Street Reform and Consumer Protection ) Tj ET Q q 0 0 0 rg BT 381.39 719.40 Td (Act \("Dodd-Frank ) Tj ET Q q 0 0 0 rg BT 464.09 719.40 Td (Act" or the "Act"\) ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 706.20 Td (was passed into law) Tj ET Q q 0 0 0 rg BT 136.46 706.20 Td (. ) Tj ET Q q 0 0 0 rg BT 141.76 706.20 Td (The Dodd-Frank ) Tj ET Q q 0 0 0 rg BT 217.53 706.20 Td (Act is a sweeping piece of legislation and the financial services industry ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 693.00 Td (continues to assess its implications and implement necessary changes in procedures and business practices. ) Tj ET Q q 0 0 0 rg BT 523.10 693.00 Td (The ) Tj ET Q q 0 0 0 rg BT 542.34 693.00 Td (Act ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 679.80 Td (established the Consumer Financial Protection Bureau \("CFPB"\) to regulate consumer financial products and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 666.60 Td (services. ) Tj ET Q q 0 0 0 rg BT 89.82 666.60 Td (Although Congress detailed significant changes, and many new rules have been implemented, the full ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 653.40 Td (impact will not be known for years as the development of additional rules continue, and Congress considers ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 640.20 Td (amending part of the ) Tj ET Q q 0 0 0 rg BT 142.97 640.20 Td (Act. Enforcement actions are in the early stages and the ef) Tj ET Q q 0 0 0 rg BT 399.02 640.20 Td (fects of possible litigation related to ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 627.00 Td (the regulations remains unknown.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 67.50 604.80 Td (In 2014, certain CFPB mortgage finance rules required under the Dodd-Frank ) Tj ET Q q 0 0 0 rg BT 412.08 604.80 Td (Act became ef) Tj ET Q q 0 0 0 rg BT 475.39 604.80 Td (fective. ) Tj ET Q q 0 0 0 rg BT 510.62 604.80 Td (The rules ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 591.60 Td (apply to consumer credit transactions secured by a dwelling, which include real property mortgages and chattel ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 578.40 Td (loans \(financed without land\) secured by manufactured homes. ) Tj ET Q q 0 0 0 rg BT 328.79 578.40 Td (The rules defined standards for origination of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 565.20 Td ("Qualified Mortgages," established specific requirements for lenders to prove borrowers' ability to repay loans, and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 552.00 Td (outlined the conditions under which Qualified Mortgages are subject to safe harbor limitations on liability to ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 538.80 Td (borrowers. ) Tj ET Q q 0 0 0 rg BT 99.40 538.80 Td (The rules also established interest rates and other cost parameters for determining which Qualified ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 525.60 Td (Mortgages fall under safe harbor protection. ) Tj ET Q q 0 0 0 rg BT 245.90 525.60 Td (Among other issues, Qualified Mortgages with interest rates and other ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 512.40 Td (costs outside the limits are deemed "rebuttable" by borrowers and expose the lender and its assignees \(including ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 499.20 Td (investors in loans, pools of loans and instruments secured by loans or loan pools\) to possible litigation and penalties.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 67.50 477.00 Td (While many manufactured homes are currently financed with agency-conforming mortgages in which the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 463.80 Td (ability to repay is verified, and interest rates and other costs are within the safe harbor limits established under the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 450.60 Td (CFPB, mortgage finance rules, certain loans to finance the purchase of manufactured homes, especially chattel ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 437.40 Td (loans and non-conforming land-home loans, may fall outside the safe harbor limits. ) Tj ET Q q 0 0 0 rg BT 418.93 437.40 Td (The rules have caused some ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 424.20 Td (lenders to curtail underwriting such loans, and some investors are reluctant to own or participate in owning such ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 411.00 Td (loans because of the uncertainty of potential litigation and other costs. If so, some prospective buyers of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 397.80 Td (manufactured homes may be unable to secure the financing necessary to complete purchases. In addition, ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 384.60 Td (compliance with the law and ongoing rule implementation has caused lenders to incur additional costs to implement ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 371.40 Td (new processes, procedures, controls and infrastructure required to comply with the regulations. Compliance may ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 358.20 Td (constrain lenders' ability to profitably price certain loans. Failure to comply with these regulations, changes in these ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 345.00 Td (or other regulations, or the imposition of additional regulations, could af) Tj ET Q q 0 0 0 rg BT 367.62 345.00 Td (fect our earnings, limit our access to capital ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 331.80 Td (and have a material adverse ef) Tj ET Q q 0 0 0 rg BT 182.75 331.80 Td (fect on our business and results of operations.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 67.50 309.60 Td (The CFPB rules amending the ) Tj ET Q q 0 0 0 rg BT 203.26 309.60 Td (T) Tj ET Q q 0 0 0 rg BT 209.59 309.60 Td (ruth in Lending ) Tj ET Q q 0 0 0 rg BT 280.17 309.60 Td (Act \("TILA"\) and the Real Estate Settlement Procedures ) Tj ET Q q 0 0 0 rg BT 531.07 309.60 Td (Act ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 296.40 Td (\("RESP) Tj ET Q q 0 0 0 rg BT 82.94 296.40 Td (A"\) expand the types of mortgage loans that are subject to the protections of the Home Ownership and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 283.20 Td (Equity Protections ) Tj ET Q q 0 0 0 rg BT 133.22 283.20 Td (Act of 1994 \("HOEP) Tj ET Q q 0 0 0 rg BT 224.38 283.20 Td (A"\), revise and expand the tests for coverage under HOEP) Tj ET Q q 0 0 0 rg BT 480.17 283.20 Td (A, and impose ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 270.00 Td (additional restrictions on mortgages that are covered by HOEP) Tj ET Q q 0 0 0 rg BT 324.63 270.00 Td (A. ) Tj ET Q q 0 0 0 rg BT 337.47 270.00 Td (As a result, certain manufactured home loans are ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 256.80 Td (now subject to HOEP) Tj ET Q q 0 0 0 rg BT 144.12 256.80 Td (A) Tj ET Q q 0 0 0 rg BT 151.46 256.80 Td ( limits on interest rates and fees. Loans with rates or fees in excess of the limits are deemed ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 243.60 Td (High Cost Mortgages and provide additional protections for borrowers, including with respect to determining the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 230.40 Td (value of the home. Most loans for the purchase of manufactured homes have been written at rates and fees that ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 217.20 Td (would not appear to be considered High Cost Mortgages under the new rule. ) Tj ET Q q 0 0 0 rg BT 387.98 217.20 Td (Although some lenders may continue ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 204.00 Td (to of) Tj ET Q q 0 0 0 rg BT 69.77 204.00 Td (fer loans that are now deemed High Cost Mortgages, the rate and fee limits appear to have deterred some ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 190.80 Td (lenders from of) Tj ET Q q 0 0 0 rg BT 117.11 190.80 Td (fering loans to certain borrowers and may continue to make them reluctant to enter into loans subject ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 177.60 Td (to the provisions of HOEP) Tj ET Q q 0 0 0 rg BT 165.21 177.60 Td (A. ) Tj ET Q q 0 0 0 rg BT 178.05 177.60 Td (As a result, some prospective buyers of manufactured homes may be unable to secure ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 164.40 Td (financing necessary to complete manufactured home purchases.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 67.50 142.20 Td (The Dodd-Frank ) Tj ET Q q 0 0 0 rg BT 143.26 142.20 Td (Act amended provisions of ) Tj ET Q q 0 0 0 rg BT 264.65 142.20 Td (TILA) Tj ET Q q 0 0 0 rg BT 289.09 142.20 Td ( to require rules for appraisals on principal residences ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 129.00 Td (securing higher) Tj ET Q q 0 0 0 rg BT 117.40 129.00 Td (-priced mortgage loans \("HPML"\).Certain loans secured by manufactured homes, primarily chattel ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 115.80 Td (loans, could be considered HPMLs.) Tj ET Q q 0 0 0 rg BT 208.67 115.80 Td (Among other things, the rule requires creditors to provide copies of appraisal ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 102.60 Td (reports to borrowers prior to loan closing. ) Tj ET Q q 0 0 0 rg BT 235.65 102.60 Td (T) Tj ET Q q 0 0 0 rg BT 241.60 102.60 Td (o implement these amendments, the CFPB adopted the HPML) Tj ET Q q 0 0 0 rg BT 515.86 102.60 Td ( ) Tj ET Q q 0 0 0 rg BT 518.00 102.60 Td (Appraisal ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 89.40 Td (Rule ef) Tj ET Q q 0 0 0 rg BT 81.37 89.40 Td (fective December 30, 2014 and loans secured by new manufactured homes were exempt from the rule until ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 76.20 Td (July 18, 2015.) Tj ET Q q 0 0 0 rg BT 114.39 76.20 Td (While ef) Tj ET Q q 0 0 0 rg BT 152.36 76.20 Td (fects of these new requirements are not fully known, some prospective home buyers may be ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 63.00 Td (deterred from completing a manufactured home purchase as a result of appraised values.) Tj ET Q endstream endobj 75 0 obj <>] /Rotate 0 /Contents 76 0 R>> endobj 76 0 obj <> stream 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 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (35) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 67.50 741.40 Td (The Dodd-Frank ) Tj ET Q q 0 0 0 rg BT 143.26 741.40 Td (Act also required integrating disclosures provided by lenders to borrowers under ) Tj ET Q q 0 0 0 rg BT 500.16 741.40 Td (TILA) Tj ET Q q 0 0 0 rg BT 524.60 741.40 Td ( and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 728.20 Td (RESP) Tj ET Q q 0 0 0 rg BT 74.78 728.20 Td (A. ) Tj ET Q q 0 0 0 rg BT 88.03 728.20 Td (The final rule became ef) Tj ET Q q 0 0 0 rg BT 195.32 728.20 Td (fective October 3, 2015. ) Tj ET Q q 0 0 0 rg BT 304.47 728.20 Td (The ) Tj ET Q q 0 0 0 rg BT 324.12 728.20 Td (TILA-RESP) Tj ET Q q 0 0 0 rg BT 378.11 728.20 Td (A) Tj ET Q q 0 0 0 rg BT 385.45 728.20 Td ( Integrated Disclosure \("TRID"\) ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 715.00 Td (mandated extensive changes to the mortgage loan closing process and necessitated significant changes to mortgage ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 701.80 Td (origination systems. Since its implementation, technical ambiguities in the rule have resulted in lender and investor ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 688.60 Td (uncertainty regarding acceptable cures and tolerances for disclosure and estimate errors. It is not yet fully known ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 675.40 Td (how the GSEs and HUD will view ) Tj ET Q q 0 0 0 rg BT 204.20 675.40 Td (TRID compliance, how they will apply their own interpretations of ) Tj ET Q q 0 0 0 rg BT 501.85 675.40 Td (TRID to their ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 662.20 Td (repurchase and claims review processes, or how the market for private-label securitizations may be impacted.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 67.50 640.00 Td (The ) Tj ET Q q 0 0 0 rg BT 86.74 640.00 Td (American Housing Rescue and Foreclosure Prevention ) Tj ET Q q 0 0 0 rg BT 330.52 640.00 Td (Act was enacted in 2008 to provide assistance by ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 626.80 Td (way of legislation for the housing industry) Tj ET Q q 0 0 0 rg BT 235.76 626.80 Td (, including manufactured homes. ) Tj ET Q q 0 0 0 rg BT 382.39 626.80 Td (Among other things, the act provided for ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 613.60 Td (increased loan limits for chattel \(home-only ) Tj ET Q q 0 0 0 rg BT 244.79 613.60 Td (T) Tj ET Q q 0 0 0 rg BT 251.13 613.60 Td (itle I\) loans to $69,678, up 43% from the previous limit of $48,600 set ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 600.40 Td (in 1992. New Federal Housing ) Tj ET Q q 0 0 0 rg BT 186.98 600.40 Td (Administration \("FHA"\) ) Tj ET Q q 0 0 0 rg BT 297.20 600.40 Td (T) Tj ET Q q 0 0 0 rg BT 303.54 600.40 Td (itle I program guidelines became ef) Tj ET Q q 0 0 0 rg BT 459.41 600.40 Td (fective on June1, 2010 ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 587.20 Td (and provide Ginnie Mae the ability to securitize manufactured home FHA) Tj ET Q q 0 0 0 rg BT 374.52 587.20 Td ( ) Tj ET Q q 0 0 0 rg BT 377.07 587.20 Td (T) Tj ET Q q 0 0 0 rg BT 383.40 587.20 Td (itle I loans. ) Tj ET Q q 0 0 0 rg BT 435.13 587.20 Td (These guidelines were ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 574.00 Td (intended to allow lenders to obtain new capital, which can then be used to fund new loans for our customers. Chattel ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 560.80 Td (loans have languished for several years and these changes were meant to broaden chattel financing availability for ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 547.60 Td (prospective homeowners. However) Tj ET Q q 0 0 0 rg BT 204.54 547.60 Td (, we are aware of only a small number of loans currently being securitized under ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 534.40 Td (the Ginnie Mae program.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 67.50 512.20 Td (The Secure and Fair Enforcement for Mortgage Licensing ) Tj ET Q q 0 0 0 rg BT 325.30 512.20 Td (Act of 2008 \("SAFE ) Tj ET Q q 0 0 0 rg BT 417.79 512.20 Td (Act"\) established requirements ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 499.00 Td (for the licensing and registration of all individuals that are Mortgage Loan Originators \("MLOs"\). MLOs must be ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 485.80 Td (registered or licensed by the states. ) Tj ET Q q 0 0 0 rg BT 206.00 485.80 Td (T) Tj ET Q q 0 0 0 rg BT 212.33 485.80 Td (raditionally) Tj ET Q q 0 0 0 rg BT 262.32 485.80 Td (, manufactured housing retailers have assisted home buyers with ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 472.60 Td (securing financing for the purchase of homes. ) Tj ET Q q 0 0 0 rg BT 253.34 472.60 Td (This assistance may have included assisting with loan applications ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 459.40 Td (and presenting terms of loans. Under the SAFE ) Tj ET Q q 0 0 0 rg BT 259.99 459.40 Td (Act, these activities are prohibited unless performed by a registered ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 446.20 Td (or licensed MLO. ) Tj ET Q q 0 0 0 rg BT 129.54 446.20 Td (Although the definition of an MLO contains exemptions for administrative and other specific ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 433.00 Td (functions and industries, manufactured housing retailers are no longer able to negotiate rates and terms for loans ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 419.80 Td (unless they are licensed as MLOs. Compliance may require manufactured housing retailers to become licensed ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 406.60 Td (lenders and employ MLOs, or alter business practices related to assisting home buyers in securing financing. ) Tj ET Q q 0 0 0 rg BT 530.73 406.60 Td (This ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 393.40 Td (may result in increased costs for retailers who elect to employ MLOs, penalties assessed against or litigation costs ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 380.20 Td (incurred by retailers found to be in violation, reduced home sales from home buyers' inability to secure financing ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 367.00 Td (without retailer assistance, or increased costs to home buyers or reduced transaction profitability for retailers as a ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 353.80 Td (result of the additional cost of mandatory MLO involvement.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 67.50 331.60 Td (If passed by Congress and signed into law) Tj ET Q q 0 0 0 rg BT 252.23 331.60 Td (, the proposed Preserving ) Tj ET Q q 0 0 0 rg BT 366.18 331.60 Td (Access to Manufactured Housing ) Tj ET Q q 0 0 0 rg BT 515.26 331.60 Td (Act ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 318.40 Td (\(Senate Bill 682 and House of Representatives Bill 650\) would amend some Dodd-Frank ) Tj ET Q q 0 0 0 rg BT 443.90 318.40 Td (Act provisions that af) Tj ET Q q 0 0 0 rg BT 538.72 318.40 Td (fect ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 305.20 Td (manufactured housing financing. ) Tj ET Q q 0 0 0 rg BT 197.15 305.20 Td (The bill would revise the triggers by which small-sized manufactured home loans ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 292.00 Td (are considered High-Cost under HOEP) Tj ET Q q 0 0 0 rg BT 229.94 292.00 Td (A) Tj ET Q q 0 0 0 rg BT 237.27 292.00 Td ( and clarify the MLO licensing requirements for manufactured home ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 278.80 Td (retailers and their employees.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 67.50 256.60 Td (Our sale of insurance products is subject to various state insurance laws and regulations which govern allowable ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 243.40 Td (char) Tj ET Q q 0 0 0 rg BT 68.23 243.40 Td (ges and other insurance practices. Standard Casualty's insurance operations are regulated by the state insurance ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 230.20 Td (boards where it underwrites its policies. Underwriting, premiums, investments and capital reserves \(including ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 217.00 Td (dividend payments to stockholders\) are subject to the rules and regulations of these state agencies.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 67.50 194.80 Td (In 2010, the Patient Protection and ) Tj ET Q q 0 0 0 rg BT 222.39 194.80 Td (Af) Tj ET Q q 0 0 0 rg BT 233.80 194.80 Td (fordable Care ) Tj ET Q q 0 0 0 rg BT 296.10 194.80 Td (Act, as amended by the Health Care and Education ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 181.60 Td (Reconciliation ) Tj ET Q q 0 0 0 rg BT 115.79 181.60 Td (Act \("Health Reform Law"\), was passed into law) Tj ET Q q 0 0 0 rg BT 331.16 181.60 Td (. ) Tj ET Q q 0 0 0 rg BT 336.05 181.60 Td (As enacted, the Health Reform Law reforms, ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 168.40 Td (among other things, certain aspects of health insurance. ) Tj ET Q q 0 0 0 rg BT 296.11 168.40 Td (The Health Reform Law could continue to increase our ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 155.20 Td (healthcare costs, adversely impacting the Company's earnings.) Tj ET Q endstream endobj 77 0 obj <>] /Rotate 0 /Contents 78 0 R>> endobj 78 0 obj <> stream BT /F1 10.00 Tf ET 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 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (36) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 741.60 Td (Results of Operations) Tj ET Q BT /F4 11.00 Tf ET q 0 0 0 rg BT 49.50 719.40 Td (Three months ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.39 719.40 Td ( ) Tj ET Q BT /F4 11.00 Tf ET q 0 0 0 rg BT 144.89 719.40 Td (July 2, 2016) Tj ET Q BT /F4 11.00 Tf ET q 0 0 0 rg BT 200.20 719.40 Td ( compared to ) Tj ET Q BT /F4 11.00 Tf ET q 0 0 0 rg BT 261.61 719.40 Td (June 27, 2015) Tj ET Q BT /F4 11.00 Tf ET BT /F4 11.00 Tf ET q 0 0 0 rg BT 67.50 697.20 Td (Net Revenue.) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 127.98 697.20 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 130.73 697.20 Td (The following tables summarize net revenue for the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 361.04 697.20 Td (three months ended July 2, 2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 504.02 697.20 Td ( and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 525.40 697.20 Td (June 27, ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 684.00 Td (2015) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 71.50 684.00 Td (.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 54.50 609.50 228.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 282.50 609.50 78.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 360.50 609.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 364.50 609.50 78.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 609.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 446.50 609.50 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 609.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 609.50 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 54.50 579.50 228.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 282.50 579.50 78.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 360.50 579.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 364.50 579.50 78.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 579.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 446.50 579.50 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 579.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 579.50 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 54.50 549.50 228.00 -7.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 282.50 549.50 78.00 -7.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 360.50 549.50 4.00 -7.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 364.50 549.50 78.00 -7.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 549.50 4.00 -7.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 446.50 549.50 52.00 -7.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 549.50 4.00 -7.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 549.50 52.00 -7.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 54.50 527.50 228.00 -7.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 282.50 527.50 78.00 -7.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 360.50 527.50 4.00 -7.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 364.50 527.50 78.00 -7.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 527.50 4.00 -7.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 446.50 527.50 52.00 -7.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 527.50 4.00 -7.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 527.50 52.00 -7.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 282.5 649.5 m 360.5 649.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360.5 649.5 m 364.5 649.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 364.5 649.5 m 442.5 649.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 282.5 649.5 m 360.5 649.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 282.5 624.5 m 360.5 624.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360.5 649.5 m 364.5 649.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 364.5 649.5 m 442.5 649.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 364.5 624.5 m 442.5 624.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 446.5 624.5 m 498.5 624.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 624.5 m 554.5 624.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 282.5 564.5 m 360.5 564.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 364.5 564.5 m 442.5 564.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 446.5 564.5 m 498.5 564.5 l s BT /F1 11.00 Tf ET q 0 0 0 rg BT 57.00 654.37 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 315.55 654.37 Td (Three Months Ended) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 57.00 629.42 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 306.30 639.37 Td (July 2,) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 310.00 628.37 Td (2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 384.65 639.37 Td (June 27,) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 392.00 628.37 Td (2015) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 451.05 629.42 Td ($ Change) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 505.20 629.42 Td (% Change) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 57.00 614.37 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 313.10 614.37 Td (\(Dollars in thousands\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 57.00 599.37 Td (Net revenue:) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 75.00 584.37 Td (Factory-built housing) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 285.00 584.37 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 320.55 584.37 Td (172,486) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 367.00 584.37 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 402.55 584.37 Td (147,546) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.00 584.37 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 464.00 584.37 Td (24,940) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 521.90 584.37 Td (16.9) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 544.80 584.37 Td (%) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 75.00 569.37 Td (Financial services) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 326.05 569.37 Td (12,655) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 408.05 569.37 Td (14,122) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 465.85 569.37 Td (\(1,467) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 494.30 569.37 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 518.20 569.37 Td (\(10.4) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 541.15 569.37 Td (\)%) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 285.00 554.37 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 320.55 554.37 Td (185,141) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 367.00 554.37 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 402.55 554.37 Td (161,668) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.00 554.37 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 464.00 554.37 Td (23,473) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 521.90 554.37 Td (14.5) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 544.80 554.37 Td (%) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 57.00 532.37 Td (Total homes sold) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 331.55 532.37 Td (3,395) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 413.55 532.37 Td (2,902) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 478.50 532.37 Td (493) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 521.90 532.37 Td (17.0) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 544.80 532.37 Td (%) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 57.00 510.37 Td (Net factory-built housing revenue per home sold) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 285.00 510.37 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 326.05 510.37 Td (50,806) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 367.00 510.37 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 408.05 510.37 Td (50,843) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.00 510.37 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 479.60 510.37 Td (\(37) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 494.30 510.37 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 523.70 510.37 Td (\(0.1) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 541.15 510.37 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET BT /F1 11.00 Tf ET q 0 0 0 rg BT 67.50 483.80 Td (The ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 87.35 483.80 Td (increase) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 123.38 483.80 Td ( in net revenue from the factory-built housing segmentfor the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 397.99 483.80 Td (three months ended July 2, 2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 540.97 483.80 Td ( was ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 470.60 Td (primarily from) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 117.32 470.60 Td (17.0%) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 145.73 470.60 Td ( higher home sales volume. ) Tj ET Q q 0 0 0 rg BT 268.95 470.60 Td (The current quarter contains one additional month of Fairmont ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 457.40 Td (Homes operations versus the same quarter last year) Tj ET Q q 0 0 0 rg BT 274.79 457.40 Td (, as Fairmont Homes was purchased by the Company on May 1, ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 444.20 Td (2015.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 67.50 422.00 Td (Net revenue per factory-built home sold is a volatile metric dependent upon several factors. ) Tj ET Q q 0 0 0 rg BT 472.22 422.00 Td (A) Tj ET Q q 0 0 0 rg BT 479.55 422.00 Td ( primary factor is ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 408.80 Td (the price disparity between sales of homes to independent retailers, builders, communities and developers ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 395.60 Td (\("Wholesale"\) and sales of homes to consumers by Company-owned retail centers \("Retail"\). ) Tj ET Q q 0 0 0 rg BT 461.61 395.60 Td (Wholesale sales prices ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 382.40 Td (are primarily comprised of the home and the cost to ship the home from a homebuilding facility to the home-site. ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 369.20 Td (Retail home prices include these items and retail markup, as well as items that are lar) Tj ET Q q 0 0 0 rg BT 423.78 369.20 Td (gely subject to home buyer ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 356.00 Td (discretion, including, but not limited to, installation, utilities, site improvements, landscaping, land and additional ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 342.80 Td (services. Changes to the proportion of home sales among these distribution channels between reporting periods ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 329.60 Td (impacts the overall net revenue per home sold. Further) Tj ET Q q 0 0 0 rg BT 289.45 329.60 Td (, fluctuations in the net revenue per home sold are the result ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 316.40 Td (of changes in product mix, which results from home buyer tastes and preferences as they select home types/models, ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 303.20 Td (as well as optional home upgrades when purchasing the home. ) Tj ET Q q 0 0 0 rg BT 326.98 303.20 Td (These selections vary regularly based on consumer ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 290.00 Td (interests, local housing preferences and economic circumstances. Our product prices are also periodically adjusted ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 276.80 Td (for the cost and availability of raw materials included in and labor used to produce each home. For these reasons, ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 263.60 Td (we have experienced, and expect to continue to experience, volatility in overall net revenue per home sold.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 67.50 241.40 Td (Financial services segment revenue ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 226.33 241.40 Td (decreased) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 269.68 241.40 Td ( from changes made to the recognition of certain ceded insurance ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 228.20 Td (commissions that took ef) Tj ET Q q 0 0 0 rg BT 159.60 228.20 Td (fect this fiscal year and lower interest income earned on securitized loan portfolios that ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 215.00 Td (continue to amortize.) Tj ET Q endstream endobj 79 0 obj <>] /Rotate 0 /Contents 80 0 R>> endobj 80 0 obj <> stream 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 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (37) Tj ET Q BT /F4 11.00 Tf ET q 0 0 0 rg BT 67.50 741.60 Td (Gross ) Tj ET Q q 0 0 0 rg BT 96.75 741.60 Td (Profit.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 125.78 741.60 Td () Tj ET Q q 0 0 0 rg BT 128.33 741.60 Td (The ) Tj ET Q q 0 0 0 rg BT 148.39 741.60 Td (following ) Tj ET Q q 0 0 0 rg BT 194.13 741.60 Td (tables ) Tj ET Q q 0 0 0 rg BT 222.76 741.60 Td (summarize ) Tj ET Q q 0 0 0 rg BT 273.98 741.60 Td (gross ) Tj ET Q q 0 0 0 rg BT 300.17 741.60 Td (profit ) Tj ET Q q 0 0 0 rg BT 327.57 741.60 Td (for ) Tj ET Q q 0 0 0 rg BT 343.36 741.60 Td (the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 359.77 741.60 Td (three ) Tj ET Q q 0 0 0 rg BT 384.72 741.60 Td (months ) Tj ET Q q 0 0 0 rg BT 420.07 741.60 Td (ended ) Tj ET Q q 0 0 0 rg BT 449.30 741.60 Td (July ) Tj ET Q q 0 0 0 rg BT 470.61 741.60 Td (2, ) Tj ET Q q 0 0 0 rg BT 481.82 741.60 Td (2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 503.82 741.60 Td ( ) Tj ET Q q 0 0 0 rg BT 506.79 741.60 Td (and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 525.63 741.60 Td (June ) Tj ET Q q 0 0 0 rg BT 548.76 741.60 Td (27, ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 728.40 Td (2015) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 71.50 728.40 Td (.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 650.90 241.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.00 650.90 78.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 368.00 650.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 372.00 650.90 78.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.00 650.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 454.00 650.90 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.00 650.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.00 650.90 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 620.90 241.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.00 620.90 78.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 368.00 620.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 372.00 620.90 78.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.00 620.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 454.00 620.90 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.00 620.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.00 620.90 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 590.90 241.00 -7.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.00 590.90 78.00 -7.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 368.00 590.90 4.00 -7.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 372.00 590.90 78.00 -7.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.00 590.90 4.00 -7.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 454.00 590.90 52.00 -7.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.00 590.90 4.00 -7.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.00 590.90 52.00 -7.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 690.9 m 368 690.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 368 690.9 m 372 690.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 372 690.9 m 450 690.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 690.9 m 368 690.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 665.9 m 368 665.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 368 690.9 m 372 690.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 372 690.9 m 450 690.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 372 665.9 m 450 665.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 454 665.9 m 506 665.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510 665.9 m 562 665.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 605.9 m 368 605.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 372 605.9 m 450 605.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 454 605.9 m 506 605.9 l s BT /F1 11.00 Tf ET q 0 0 0 rg BT 51.50 695.77 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 324.55 695.77 Td (Three months ended) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 51.50 670.82 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 313.80 680.77 Td (July 2,) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 317.50 669.77 Td (2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 392.15 680.77 Td (June 27,) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 399.50 669.77 Td (2015) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 458.55 670.82 Td ($ Change) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 512.70 670.82 Td (% Change) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 51.50 655.77 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 320.60 655.77 Td (\(Dollars in thousands\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 51.50 640.77 Td (Gross profit:) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 69.50 625.77 Td (Factory-built housing) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 292.50 625.77 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 328.05 625.77 Td (30,659) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 374.50 625.77 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 410.05 625.77 Td (26,364) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 456.50 625.77 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 477.00 625.77 Td (4,295) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 529.40 625.77 Td (16.3) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 552.30 625.77 Td (%) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 69.50 610.77 Td (Financial services) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 333.55 610.77 Td (2,593) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 415.55 610.77 Td (5,470) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 473.35 610.77 Td (\(2,877) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 501.80 610.77 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 525.70 610.77 Td (\(52.6) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 548.65 610.77 Td (\)%) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 292.50 595.77 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 328.05 595.77 Td (33,252) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 374.50 595.77 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 410.05 595.77 Td (31,834) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 456.50 595.77 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 477.00 595.77 Td (1,418) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 534.90 595.77 Td (4.5) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 552.30 595.77 Td (%) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 51.50 573.77 Td (Gross profit as % of Net revenue:) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 339.05 573.77 Td (18.0) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 358.30 573.77 Td (%) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 421.05 573.77 Td (19.7) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 440.30 573.77 Td (%) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 484.15 573.77 Td (N/A) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 531.20 573.77 Td (\(1.7) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 548.65 573.77 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET BT /F1 11.00 Tf ET q 0 0 0 rg BT 67.50 547.20 Td (The ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 87.35 547.20 Td (increase) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 123.38 547.20 Td ( in factory-built housing gross profit for the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 317.68 547.20 Td (three months ended July 2, 2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 460.66 547.20 Td ( is primarily from ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 534.00 Td (higher home sales volume.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 67.50 511.80 Td (Financial services gross profit for the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 234.29 511.80 Td (three months ended July 2, 2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 377.27 511.80 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 380.02 511.80 Td (decreased) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 423.37 511.80 Td ( versus the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 473.17 511.80 Td (three months ended ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 498.60 Td (June 27, 2015) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 110.91 498.60 Td ( mainly from higher insurance claim losses, partially of) Tj ET Q q 0 0 0 rg BT 354.18 498.60 Td (fset by gross profit earned on higher loan ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 485.40 Td (servicing volume. ) Tj ET Q q 0 0 0 rg BT 130.87 485.40 Td (While claims activity typically spikes in ) Tj ET Q q 0 0 0 rg BT 309.89 485.40 Td (April and May each year) Tj ET Q q 0 0 0 rg BT 418.78 485.40 Td (, a prime season for storm ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 472.20 Td (activity in the area, the severity of the hail, wind and flood damage to insured homes was considerably greater in the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 459.00 Td (first quarter of fiscal 2017 than during the same period last year) Tj ET Q q 0 0 0 rg BT 329.00 459.00 Td (. Losses from these events were somewhat mitigated ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 445.80 Td (by reinsurance contracts.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 67.50 423.60 Td (Lower gross profit percentages in the current three-month period compared to the same period last year are ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 410.40 Td (from increased insurance claims activity as described above, partially of) Tj ET Q q 0 0 0 rg BT 366.95 410.40 Td (fset by operating leverage gained from ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 397.20 Td (increased home sales volume.) Tj ET Q BT /F4 11.00 Tf ET q 0 0 0 rg BT 67.50 375.00 Td (Selling, General and ) Tj ET Q q 0 0 0 rg BT 163.66 375.00 Td (Administrative Expenses. ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 281.31 375.00 Td (The following tables summarize selling, general and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 361.80 Td (administrative expenses for the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 189.40 361.80 Td (three months ended July 2, 2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 332.38 361.80 Td ( and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 353.76 361.80 Td (June 27, 2015) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 415.17 361.80 Td (.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 296.30 227.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 277.00 296.30 72.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.00 296.30 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.00 296.30 72.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.00 296.30 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 296.30 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 296.30 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 296.30 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 265.30 227.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 277.00 265.30 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.00 265.30 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.00 265.30 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.00 265.30 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 265.30 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 265.30 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 265.30 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 235.30 227.00 -7.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 277.00 235.30 72.00 -7.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.00 235.30 4.00 -7.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.00 235.30 72.00 -7.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.00 235.30 4.00 -7.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 235.30 65.00 -7.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 235.30 4.00 -7.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 235.30 65.00 -7.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 277 336.29999999999995 m 349 336.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 349 336.29999999999995 m 353 336.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353 336.29999999999995 m 425 336.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 277 336.29999999999995 m 349 336.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 277 311.29999999999995 m 349 311.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 349 336.29999999999995 m 353 336.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353 336.29999999999995 m 425 336.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353 311.29999999999995 m 425 311.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 311.29999999999995 m 494 311.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 311.29999999999995 m 563 311.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 277 250.29999999999995 m 349 250.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353 250.29999999999995 m 425 250.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 277 250.29999999999995 m 349 250.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353 250.29999999999995 m 425 250.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 250.29999999999995 m 494 250.29999999999995 l s BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 341.17 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 305.55 341.17 Td (Three months ended) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 316.22 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 297.80 326.17 Td (July 2,) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 301.50 315.17 Td (2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 370.15 326.17 Td (June 27,) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 377.50 315.17 Td (2015) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 440.05 316.22 Td ($ Change) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 507.20 316.22 Td (% Change) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 301.17 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 301.60 301.17 Td (\(Dollars in thousands\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 286.17 Td (Selling, general and administrative expenses:) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 70.50 270.17 Td (Factory-built housing) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 279.50 270.17 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 309.05 270.17 Td (20,875) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 355.50 270.17 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 385.05 270.17 Td (18,800) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 431.50 270.17 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 465.05 270.17 Td (2,075) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 530.40 270.17 Td (11.0) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 553.30 270.17 Td (%) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 70.50 255.17 Td (Financial services) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 314.55 255.17 Td (3,812) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 390.55 255.17 Td (3,859) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 475.10 255.17 Td (\(47) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 489.80 255.17 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 532.20 255.17 Td (\(1.2) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 549.65 255.17 Td (\)%) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 279.50 240.17 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 309.05 240.17 Td (24,687) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 355.50 240.17 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 385.05 240.17 Td (22,659) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 431.50 240.17 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 465.05 240.17 Td (2,028) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 535.90 240.17 Td (9.0) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 553.30 240.17 Td (%) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 218.17 Td (Selling, general and administrative expenses as %) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 207.17 Td (of Net revenue:) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 320.05 208.22 Td (13.3) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 339.30 208.22 Td (%) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 396.05 208.22 Td (14.0) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 415.30 208.22 Td (%) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 472.15 208.22 Td (N/A) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 532.20 208.22 Td (\(0.7) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 549.65 208.22 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET BT /F1 11.00 Tf ET q 0 0 0 rg BT 67.50 181.60 Td (Selling, general and administrative expenses related to factory-built housing ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 405.35 181.60 Td (increased) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 446.88 181.60 Td ( during the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 497.28 181.60 Td (three months ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 168.40 Td (ended July 2, 2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 132.60 168.40 Td ( primarily from increased incentive compensation and marketing expenses from improved home ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 155.20 Td (sales overall. ) Tj ET Q q 0 0 0 rg BT 109.47 155.20 Td (The three months ended June 27, 2015 included a $1.1 million reduction in incentive compensation ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 142.00 Td (expense from the Company's CEO repayment of performance bonuses that were determined to be in excess of plan ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 128.80 Td (limits.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 67.50 106.60 Td (Selling, general and administrative expenses for financial services remained relatively flat from operating ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 93.40 Td (consistency) Tj ET Q q 0 0 0 rg BT 100.11 93.40 Td (.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 67.50 71.20 Td (As a percentage of net revenue, selling, general and administrative expenses decreased from increased leverage ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 58.00 Td (on higher net revenue.) Tj ET Q endstream endobj 81 0 obj <>] /Rotate 0 /Contents 82 0 R>> endobj 82 0 obj <> stream BT /F1 10.00 Tf ET 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 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (38) Tj ET Q BT /F4 11.00 Tf ET q 0 0 0 rg BT 67.50 741.60 Td (Interest Expense. ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 149.09 741.60 Td (The following tables summarize interest expense for the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 398.95 741.60 Td (three months ended July 2, 2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 541.93 741.60 Td ( and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 728.40 Td (June 27, 2015) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 110.91 728.40 Td (.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 662.90 227.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 277.00 662.90 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.00 662.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.00 662.90 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.00 662.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 662.90 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 662.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 662.90 65.00 -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 277 702.9 m 349 702.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 349 702.9 m 353 702.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353 702.9 m 425 702.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 277 677.9 m 349 677.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353 677.9 m 425 677.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 677.9 m 494 677.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 677.9 m 563 677.9 l s BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 707.77 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 305.55 707.77 Td (Three months ended) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 682.82 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 297.80 692.77 Td (July 2,) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 301.50 681.77 Td (2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 370.15 692.77 Td (June 27,) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 377.50 681.77 Td (2015) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 440.05 682.82 Td ($ Change) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 507.20 682.82 Td (% Change) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 667.77 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 301.60 667.77 Td (\(Dollars in thousands\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 652.77 Td (Interest expense) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 279.50 652.77 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 320.05 652.77 Td (1,161) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 355.50 652.77 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 396.05 652.77 Td (1,015) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 431.50 652.77 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 473.30 652.77 Td (146) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 534.05 652.77 Td (14.4) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 553.30 652.77 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F1 11.00 Tf ET q 0 0 0 rg BT 67.50 626.20 Td (Interest expense consists primarily of debt service on the CountyPlace securitized financings of manufactured ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 613.00 Td (home loans and interest related to the capital lease treatment for a lease of manufacturing facilities and land entered ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 599.80 Td (into as part of the Fairmont acquisition during the first quarter of fiscal year 2016. ) Tj ET Q q 0 0 0 rg BT 412.82 599.80 Td (The ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 432.67 599.80 Td (increase) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 468.70 599.80 Td ( for the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 503.21 599.80 Td (three months ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 586.60 Td (ended July 2, 2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 132.60 586.60 Td ( is related to capital lease related interest and changes to the purchase discount market-based ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 573.40 Td (valuation adjustment on securitized financings, partially of) Tj ET Q q 0 0 0 rg BT 308.03 573.40 Td (fset by the continued principal reductions of those ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 560.20 Td (financings.) Tj ET Q BT /F4 11.00 Tf ET q 0 0 0 rg BT 67.50 538.00 Td (Other Income, net) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 150.31 538.00 Td (.) Tj ET Q q 0 0 0 rg BT 155.61 538.00 Td (The following tables summarize other income, net for the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 411.58 538.00 Td (three months ended July 2, 2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 554.56 538.00 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 524.80 Td (and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.13 524.80 Td (June 27, 2015) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 129.55 524.80 Td (.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 450.30 225.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 275.50 450.30 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.50 450.30 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.50 450.30 71.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 450.30 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 450.30 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 450.30 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 450.30 65.00 -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 275.5 490.3 m 347.5 490.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 347.5 490.3 m 351.5 490.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351.5 490.3 m 422.5 490.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 465.3 m 347.5 465.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351.5 465.3 m 422.5 465.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 465.3 m 491.5 465.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 465.3 m 560.5 465.3 l s BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 495.17 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 302.05 495.17 Td (Three Months Ended) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 470.22 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 296.30 480.17 Td (July 2,) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 300.00 469.17 Td (2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 368.15 480.17 Td (June 27,) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 375.50 469.17 Td (2015) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 437.55 470.22 Td ($ Change) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 504.70 470.22 Td (% Change) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 455.17 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 299.60 455.17 Td (\(Dollars in thousands\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 440.17 Td (Other income, net) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 278.00 440.17 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 318.55 440.17 Td (1,026) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 354.00 440.17 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 401.80 440.17 Td (472) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 429.00 440.17 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 470.80 440.17 Td (554) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 526.00 440.17 Td (117.4) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 550.80 440.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F1 11.00 Tf ET q 0 0 0 rg BT 67.50 413.60 Td (Other income, net, is attributable to interest income earned on commercial loans receivable in the factory-built ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 400.40 Td (housing segment and also represents gains and losses on corporate investments and property) Tj ET Q q 0 0 0 rg BT 455.08 400.40 Td (, plant and equipment, ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 387.20 Td (including assets held for sale or sold. ) Tj ET Q q 0 0 0 rg BT 214.88 387.20 Td (The ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 234.73 387.20 Td (increase) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 270.76 387.20 Td ( is primarily from realized gains on corporate investments in the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 374.00 Td (current period.) Tj ET Q BT /F4 11.00 Tf ET q 0 0 0 rg BT 67.50 351.80 Td (Income Before Income T) Tj ET Q q 0 0 0 rg BT 180.44 351.80 Td (axes. ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 206.11 351.80 Td (The following tables summarize income \(loss\) before income taxes for the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 536.31 351.80 Td (three ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 338.60 Td (months ended July 2, 2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 167.74 338.60 Td ( and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 189.13 338.60 Td (June 27, 2015) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 250.54 338.60 Td (.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 273.10 225.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 275.50 273.10 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.50 273.10 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.50 273.10 71.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 273.10 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 273.10 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 273.10 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 273.10 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 243.10 225.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 275.50 243.10 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.50 243.10 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.50 243.10 71.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 243.10 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 243.10 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 243.10 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 243.10 65.00 -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 275.5 313.1 m 347.5 313.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 347.5 313.1 m 351.5 313.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351.5 313.1 m 422.5 313.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 288.1 m 347.5 288.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351.5 288.1 m 422.5 288.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 288.1 m 491.5 288.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 288.1 m 560.5 288.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 228.10000000000002 m 347.5 228.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351.5 228.10000000000002 m 422.5 228.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 228.10000000000002 m 491.5 228.10000000000002 l s BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 317.97 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 302.05 317.97 Td (Three Months Ended) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 293.02 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 296.30 302.97 Td (July 2,) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 300.00 291.97 Td (2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 368.15 302.97 Td (June 27,) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 375.50 291.97 Td (2015) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 437.55 293.02 Td ($ Change) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 504.70 293.02 Td (% Change) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 277.97 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 299.60 277.97 Td (\(Dollars in thousands\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 262.97 Td (Income before income taxes:) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 71.00 247.97 Td (Factory-built housing) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 278.00 247.97 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 313.05 247.97 Td (10,738) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 354.00 247.97 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 393.55 247.97 Td (8,004) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 429.00 247.97 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 462.55 247.97 Td (2,734) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 527.90 247.97 Td (34.2) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 550.80 247.97 Td (%) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 71.00 232.97 Td (Financial services) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 314.85 232.97 Td (\(2,308) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 343.30 232.97 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 401.80 232.97 Td (628) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 458.85 232.97 Td (\(2,936) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 487.30 232.97 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 518.70 232.97 Td (\(467.5) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 547.15 232.97 Td (\)%) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 278.00 217.97 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 318.55 217.97 Td (8,430) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 354.00 217.97 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 393.55 217.97 Td (8,632) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 429.00 217.97 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 467.10 217.97 Td (\(202) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 487.30 217.97 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 529.70 217.97 Td (\(2.3) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 547.15 217.97 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 83 0 obj <>] /Rotate 0 /Contents 84 0 R>> endobj 84 0 obj <> stream 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 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (39) Tj ET Q BT /F4 11.00 Tf ET q 0 0 0 rg BT 67.50 741.60 Td (Income taxes) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 127.69 741.60 Td (.) Tj ET Q q 0 0 0 rg BT 132.99 741.60 Td (The following tables summarize Income taxes for the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 370.63 741.60 Td (three months ended July 2, 2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 513.61 741.60 Td ( and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 534.99 741.60 Td (June ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 728.40 Td (27, 2015) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 88.00 728.40 Td (.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 653.90 225.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 275.50 653.90 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.50 653.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.50 653.90 71.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 653.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 653.90 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 653.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 653.90 65.00 -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 275.5 693.9 m 347.5 693.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 347.5 693.9 m 351.5 693.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351.5 693.9 m 422.5 693.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 668.9 m 347.5 668.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351.5 668.9 m 422.5 668.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 668.9 m 491.5 668.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 668.9 m 560.5 668.9 l s BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 698.77 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 302.05 698.77 Td (Three Months Ended) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 673.82 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 296.30 683.77 Td (July 2,) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 300.00 672.77 Td (2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 368.15 683.77 Td (June 27,) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 375.50 672.77 Td (2015) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 437.55 673.82 Td ($ Change) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 504.70 673.82 Td (% Change) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 658.77 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 299.60 658.77 Td (\(Dollars in thousands\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 643.77 Td (Income taxes) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 278.00 643.77 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 318.55 643.77 Td (2,987) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 354.00 643.77 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 393.55 643.77 Td (3,247) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 429.00 643.77 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 467.10 643.77 Td (\(260) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 487.30 643.77 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 529.70 643.77 Td (\(8.0) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 547.15 643.77 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET BT /F1 11.00 Tf ET q 0 0 0 rg BT 67.50 617.20 Td (The ef) Tj ET Q q 0 0 0 rg BT 95.70 617.20 Td (fective tax rate for the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 195.56 617.20 Td (first fiscal quarter) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 273.74 617.20 Td ( of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 288.41 617.20 Td (35.4%) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 316.82 617.20 Td (, benefited from certain manufacturing specific ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 604.00 Td (deductions and tax credits, including the New Ener) Tj ET Q q 0 0 0 rg BT 274.12 604.00 Td (gy Ef) Tj ET Q q 0 0 0 rg BT 298.06 604.00 Td (ficient Home Credit, which will expire on December 31, ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 590.80 Td (2016, unless renewed. For the prior year ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 230.03 590.80 Td (first fiscal quarter) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 307.78 590.80 Td (, the ef) Tj ET Q q 0 0 0 rg BT 337.81 590.80 Td (fective tax rate was ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 425.77 590.80 Td (37.6%) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 454.18 590.80 Td (.) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 568.60 Td (Liquidity and Capital Resour) Tj ET Q q 0 0 0 rg BT 187.75 568.60 Td (ces) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 67.50 546.40 Td (W) Tj ET Q q 0 0 0 rg BT 77.00 546.40 Td (e believe that cash and cash equivalents at ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 265.15 546.40 Td (July 2, 2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 319.23 546.40 Td (, together with cash flow from operations, will be ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 533.20 Td (suf) Tj ET Q q 0 0 0 rg BT 62.75 533.20 Td (ficient to fund our operations and provide for growth for the next 12 months and into the foreseeable future. ) Tj ET Q q 0 0 0 rg BT 539.69 533.20 Td (W) Tj ET Q q 0 0 0 rg BT 549.19 533.20 Td (e ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 520.00 Td (maintain cash in various deposit accounts, the balances of which are in excess of federally insured limits. ) Tj ET Q q 0 0 0 rg BT 514.52 520.00 Td (W) Tj ET Q q 0 0 0 rg BT 524.02 520.00 Td (e expect ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 506.80 Td (to continue to evaluate potential acquisitions of, or strategic investments in, businesses that are complementary to ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 493.60 Td (our Company) Tj ET Q q 0 0 0 rg BT 108.97 493.60 Td (. Such transactions may require the use of cash and have other impacts on the Company's liquidity and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 480.40 Td (capital resources in the event of such a transaction. Recent acquisitions of Fairmont Homes and Chariot Eagle did ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 467.20 Td (not have a significant impact on our liquidity or capital resources. Because of the Company) Tj ET Q q 0 0 0 rg BT 454.86 467.20 Td (s suf) Tj ET Q q 0 0 0 rg BT 475.13 467.20 Td (ficient cash ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 454.00 Td (position, the Company has not sought external sources of liquidity) Tj ET Q q 0 0 0 rg BT 340.86 454.00 Td (, such as a credit facility; however) Tj ET Q q 0 0 0 rg BT 491.00 454.00 Td (, depending on ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 440.80 Td (our operating results and strategic opportunities, we may need to seek additional or alternative sources of financing. ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 427.60 Td (There can be no assurance that such financing would be available on satisfactory terms, if at all. If this financing ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 414.40 Td (were not available, it could be necessary for us to reevaluate our long-term operating plans to make more ef) Tj ET Q q 0 0 0 rg BT 523.04 414.40 Td (ficient ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 401.20 Td (use of our existing capital resources. ) Tj ET Q q 0 0 0 rg BT 212.72 401.20 Td (The exact nature of any changes to our plans that would be considered depends ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 388.00 Td (on various factors, such as conditions in the factory-built housing industry and general economic conditions outside ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 374.80 Td (of our control.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 67.50 352.60 Td (Projected cash provided by operations in the coming year is lar) Tj ET Q q 0 0 0 rg BT 344.66 352.60 Td (gely dependent on sales volume and other ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 339.40 Td (activities. Operating activities provided ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 225.75 339.40 Td ($8.2 million) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 279.53 339.40 Td ( of cash during the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 364.15 339.40 Td (three months) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 421.28 339.40 Td ( ended ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 453.04 339.40 Td (July 2, 2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 507.13 339.40 Td (, compared ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 326.20 Td (to providing cash of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 140.54 326.20 Td ($3.9 million) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 194.32 326.20 Td ( during the same period last year) Tj ET Q q 0 0 0 rg BT 337.28 326.20 Td (. Cash provided by operating activities during the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 313.00 Td (current period was primarily the result of cash generated by operating income before non-cash char) Tj ET Q q 0 0 0 rg BT 486.07 313.00 Td (ges, higher ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 299.80 Td (accounts payable and accrued liabilities, including insurance loss reserves and customer deposits. ) Tj ET Q q 0 0 0 rg BT 480.61 299.80 Td (This was partially ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 286.60 Td (of) Tj ET Q q 0 0 0 rg BT 58.46 286.60 Td (fset by increases in commercial loans receivable from further expansion of our distribution-based lending ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 273.40 Td (programs. Cash provided by operating activities during the prior period was primarily the result of cash generated ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 260.20 Td (by operating income before non-cash char) Tj ET Q q 0 0 0 rg BT 234.70 260.20 Td (ges, decreased accounts receivable, higher customer deposits and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 247.00 Td (insurance loss reserves, of) Tj ET Q q 0 0 0 rg BT 164.76 247.00 Td (fset by a decrease in prepaid expenses and other current assets and increases in ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 233.80 Td (commercial loans receivable and inventory) Tj ET Q q 0 0 0 rg BT 238.15 233.80 Td (.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 67.50 211.60 Td (Consumer loan originations ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 192.46 211.60 Td (decreased) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 235.81 211.60 Td ( to ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 249.87 211.60 Td ($25.6 million) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 309.15 211.60 Td ( from ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 336.03 211.60 Td ($29.0 million) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 395.31 211.60 Td ( for the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 429.83 211.60 Td (three months ended) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 515.97 211.60 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 518.72 211.60 Td (July 2, ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 198.40 Td (2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 71.50 198.40 Td ( and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 92.88 198.40 Td (June 27, 2015) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 154.30 198.40 Td (, respectively) Tj ET Q q 0 0 0 rg BT 212.22 198.40 Td (. Proceeds from the sale of consumer loans provided ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 445.60 198.40 Td ($25.8 million) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 504.88 198.40 Td ( in cash, ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 185.20 Td (compared to ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 106.92 185.20 Td ($28.5 million) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 166.20 185.20 Td ( in the previous year) Tj ET Q q 0 0 0 rg BT 255.57 185.20 Td (, a net ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 284.89 185.20 Td (decrease) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 322.74 185.20 Td ( of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 337.41 185.20 Td ($2.7 million) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 391.19 185.20 Td (, which relates to the timing of loan ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 172.00 Td (origination and related loan sales.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 67.50 149.80 Td (W) Tj ET Q q 0 0 0 rg BT 77.44 149.80 Td (ith respect to consumer lending for the purchase of manufactured housing, states may classify manufactured ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 136.60 Td (homes for both legal and tax purposes as personal property rather than real estate. ) Tj ET Q q 0 0 0 rg BT 410.85 136.60 Td (As a result, financing for the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 123.40 Td (purchase of manufactured homes is characterized by shorter loan maturities and higher interest rates. Unfavorable ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 110.20 Td (changes in these factors and the current adverse trend in the availability and terms of financing in the industry may ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 97.00 Td (have material negative ef) Tj ET Q q 0 0 0 rg BT 160.16 97.00 Td (fects on our results of operations and financial condition. See Item IA, "Risk Factors.") Tj ET Q endstream endobj 85 0 obj <>] /Rotate 0 /Contents 86 0 R>> endobj 86 0 obj <> stream 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 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (40) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 67.50 741.40 Td (Cavco has entered into programs to provide some of the capital used by inventory lenders to finance wholesale ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 728.20 Td (home purchases by retailers. In addition, the Company has entered into direct commercial loan arrangements with ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 715.00 Td (distributors, communities and developers under which the Company provides funds for financing homes and has ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 701.80 Td (invested in community-based lending initiatives that provide home-only financing to new residents of certain ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 688.60 Td (manufactured home communities \(see Note) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 244.07 688.60 Td (6) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 249.57 688.60 Td ( to the Consolidated Financial Statements\).) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 67.50 666.40 Td (Investing activities used ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 176.56 666.40 Td ($1.2 million) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 230.34 666.40 Td ( of cash during the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 314.96 666.40 Td (three months) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 372.08 666.40 Td ( ended ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 403.85 666.40 Td (July 2, 2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 457.94 666.40 Td (, compared to ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 520.86 666.40 Td ($29.2 ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 653.20 Td (million) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 81.28 653.20 Td ( during the same period last year) Tj ET Q q 0 0 0 rg BT 224.24 653.20 Td (. In the current year) Tj ET Q q 0 0 0 rg BT 310.22 653.20 Td (, cash was used for the purchases of property) Tj ET Q q 0 0 0 rg BT 507.14 653.20 Td (, plant and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 640.00 Td (equipment as well as investments by our insurance subsidiary for its investment portfolio, of) Tj ET Q q 0 0 0 rg BT 456.23 640.00 Td (fset by that subsidiary's ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 626.80 Td (investment sales. In the prior period, cash of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 247.45 626.80 Td ($27.1 million) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 306.73 626.80 Td ( was used for the purchase of certain assets and liabilities ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 613.60 Td (of Fairmont Homes and Chariot Eagle as well as for purchases of investments by our insurance subsidiary for its ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 600.40 Td (investment portfolio, of) Tj ET Q q 0 0 0 rg BT 153.48 600.40 Td (fset by that subsidiary's investment sales.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 67.50 578.20 Td (Financing activities used ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 179.62 578.20 Td ($2.3 million) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 233.40 578.20 Td ( in cash during the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 317.41 578.20 Td (three months) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 374.53 578.20 Td ( ended ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 406.30 578.20 Td (July 2, 2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 460.38 578.20 Td ( primarily from ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 565.00 Td (payment on securitized financings, of) Tj ET Q q 0 0 0 rg BT 214.55 565.00 Td (fset by loan sales accounted for as other secured financings. Financing ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 551.80 Td (activities used ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 114.87 551.80 Td ($1.1 million) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 168.65 551.80 Td ( in cash during the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 252.66 551.80 Td (three months) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 309.79 551.80 Td ( ended ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 341.55 551.80 Td (June 27, 2015) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 402.97 551.80 Td (, lar) Tj ET Q q 0 0 0 rg BT 419.87 551.80 Td (gely from cash used to repay ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 538.60 Td (securitized financings, of) Tj ET Q q 0 0 0 rg BT 160.18 538.60 Td (fset by loan sales accounted for as other secured financings.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 67.50 516.40 Td (CountryPlace's securitized debt is subject to provisions that require certain levels of overcollateralization. ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 503.20 Td (Overcollateralization is equal to CountryPlace's equity in the bonds. Failure to satisfy these provisions could cause ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 490.00 Td (cash, which would normally be distributed to CountryPlace, to be used for repayment of the principal of the related ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 476.80 Td (Class ) Tj ET Q q 0 0 0 rg BT 75.48 476.80 Td (A) Tj ET Q q 0 0 0 rg BT 82.82 476.80 Td ( bonds until the required overcollateralization level is reached. During periods when the overcollateralization ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 463.60 Td (is below the specified level, cash collections from the securitized loans in excess of servicing fees payable to ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 450.40 Td (CountryPlace and amounts owed to the Class ) Tj ET Q q 0 0 0 rg BT 250.84 450.40 Td (A) Tj ET Q q 0 0 0 rg BT 258.17 450.40 Td ( bondholders, trustee and surety) Tj ET Q q 0 0 0 rg BT 397.68 450.40 Td (, are applied to reduce the Class ) Tj ET Q q 0 0 0 rg BT 540.02 450.40 Td (A) Tj ET Q q 0 0 0 rg BT 547.35 450.40 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 437.20 Td (debt until such time the overcollateralization level reaches the specified level. ) Tj ET Q q 0 0 0 rg BT 393.82 437.20 Td (Therefore, failure to meet the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 424.00 Td (overcollateralization requirement could adversely af) Tj ET Q q 0 0 0 rg BT 278.97 424.00 Td (fect the timing of cash flows received by CountryPlace. ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 410.80 Td (However) Tj ET Q q 0 0 0 rg BT 89.38 410.80 Td (, principal payments of the securitized debt, including accelerated amounts, is payable only from cash ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 397.60 Td (collections from the securitized loans and no additional sources of repayment are required or permitted. ) Tj ET Q q 0 0 0 rg BT 507.06 397.60 Td (As of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 533.95 397.60 Td (July ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 384.40 Td (2, 2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 82.50 384.40 Td (, the 2005-1 and 2007-1 securitized portfolios were within the required overcollateralization level.) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 362.20 Td (Critical ) Tj ET Q q 0 0 0 rg BT 87.68 362.20 Td (Accounting Policies) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 67.50 340.00 Td (In Part II, Item 7 of our Form 10-K, under the heading "Critical ) Tj ET Q q 0 0 0 rg BT 349.06 340.00 Td (Accounting Policies," we have provided a ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 326.80 Td (discussion of the critical accounting policies that management believes af) Tj ET Q q 0 0 0 rg BT 372.78 326.80 Td (fect its more significant judgments and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 313.60 Td (estimates used in the preparation of our Consolidated Financial Statements.) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 291.40 Td (Recent ) Tj ET Q q 0 0 0 rg BT 84.01 291.40 Td (Accounting Pr) Tj ET Q q 0 0 0 rg BT 151.95 291.40 Td (onouncements) Tj ET Q BT /F1 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 67.50 269.20 Td (In May 2014, the) Tj ET Q BT /F1 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 143.26 269.20 Td ( Financial ) Tj ET Q q 0 0 0 rg BT 189.09 269.20 Td (Accounting Standards Board \("F) Tj ET Q q 0 0 0 rg BT 332.38 269.20 Td (ASB"\) issued ) Tj ET Q q 0 0 0 rg BT 394.33 269.20 Td (Accounting Standards Update No. ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 256.00 Td (2014-09, ) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 91.66 256.00 Td (Revenue fr) Tj ET Q q 0 0 0 rg BT 138.59 256.00 Td (om Contracts with Customers \(T) Tj ET Q q 0 0 0 rg BT 281.21 256.00 Td (opic 606\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 323.06 256.00 Td ( \("ASU 2014-09"\), which outlines a single ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 242.80 Td (comprehensive model for entities to use in accounting for revenue arising from contracts with customers and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 229.60 Td (supersedes most current revenue recognition guidance, including industry-specific guidance. ) Tj ET Q BT /F1 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 459.53 229.60 Td (The standard requires ) Tj ET Q BT /F1 11.00 Tf ET q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 49.50 216.40 Td (entities to ) Tj ET Q BT /F1 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 95.33 216.40 Td (recognize revenue to depict the transfer of promised goods or services to customers in an amount that ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 203.20 Td (reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. ) Tj ET Q BT /F1 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.13333333333333333 0.11764705882352941 0.12156862745098039 rg BT 522.46 203.20 Td (The new ) Tj ET Q BT /F1 11.00 Tf ET q 0.13333333333333333 0.11764705882352941 0.12156862745098039 rg BT 49.50 190.00 Td (guidance also includes a cohesive set of disclosure requirements intended to provide users of financial statements ) Tj ET Q BT /F1 11.00 Tf ET q 0.13333333333333333 0.11764705882352941 0.12156862745098039 rg BT 49.50 176.80 Td (with comprehensive information about the nature, amount, timing and uncertainty of revenue and cash flows arising ) Tj ET Q BT /F1 11.00 Tf ET q 0.13333333333333333 0.11764705882352941 0.12156862745098039 rg BT 49.50 163.60 Td (from a company's contracts with customers. ) Tj ET Q BT /F1 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 245.46 163.60 Td (In ) Tj ET Q q 0 0 0 rg BT 256.77 163.60 Td (August 2015, the F) Tj ET Q q 0 0 0 rg BT 340.29 163.60 Td (ASB issued ) Tj ET Q q 0 0 0 rg BT 394.08 163.60 Td (ASU 2015-14, ) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 461.00 163.60 Td (Revenue fr) Tj ET Q q 0 0 0 rg BT 507.92 163.60 Td (om ) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 49.50 150.40 Td (Contracts with Customers \(T) Tj ET Q q 0 0 0 rg BT 175.92 150.40 Td (opic 606\): Deferral of the Effective Date) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 354.92 150.40 Td (, which deferred the ef) Tj ET Q q 0 0 0 rg BT 453.98 150.40 Td (fective date of the new ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 137.20 Td (revenue standard. ) Tj ET Q q 0 0 0 rg BT 129.22 137.20 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 183.49 137.20 Td (, the updated standard is ef) Tj ET Q q 0 0 0 rg BT 301.19 137.20 Td (fective for us ) Tj ET Q BT /F1 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 361.97 137.20 Td (beginning with the first quarter of the ) Tj ET Q BT /F1 11.00 Tf ET q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 49.50 124.00 Td (Company's fiscal year 2019, with e) Tj ET Q BT /F1 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.13333333333333333 0.11764705882352941 0.12156862745098039 rg BT 204.23 124.00 Td (arly application permitted in fiscal year 2018. ) Tj ET Q BT /F1 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 407.46 124.00 Td (The standard allows for either "full ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 110.80 Td (retrospective" adoption, meaning the standard is applied to all of the periods presented, or "modified retrospective" ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 97.60 Td (adoption, meaning the standard is applied only to the most current period presented in the financial statements) Tj ET Q BT /F1 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.13333333333333333 0.11764705882352941 0.12156862745098039 rg BT 534.28 97.60 Td (. ) Tj ET Q BT /F1 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 539.59 97.60 Td (The ) Tj ET Q BT /F1 11.00 Tf ET q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 49.50 84.40 Td (Company is currently evaluating the ef) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 220.67 84.40 Td (fect ) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 239.29 84.40 Td (ASU 2014-09 will have on the Company's Consolidated Financial ) Tj ET Q BT /F1 11.00 Tf ET q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 49.50 71.20 Td (Statements and disclosures.) Tj ET Q endstream endobj 87 0 obj <>] /Rotate 0 /Contents 88 0 R>> endobj 88 0 obj <> stream BT /F1 10.00 Tf ET 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 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (41) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 67.50 741.40 Td (In November 2015, the F) Tj ET Q q 0 0 0 rg BT 177.58 741.40 Td (ASB issued ) Tj ET Q q 0 0 0 rg BT 231.37 741.40 Td (ASU 2015-17, ) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 298.29 741.40 Td (Income T) Tj ET Q q 0 0 0 rg BT 338.52 741.40 Td (axes \(T) Tj ET Q q 0 0 0 rg BT 369.59 741.40 Td (opic 740\): Balance Sheet Classification of ) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 49.50 728.20 Td (Deferr) Tj ET Q q 0 0 0 rg BT 78.42 728.20 Td (ed T) Tj ET Q q 0 0 0 rg BT 96.66 728.20 Td (axes) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 116.20 728.20 Td ( \("ASU 2015-17"\). ) Tj ET Q q 0 0 0 rg BT 201.57 728.20 Td (ASU 2015-17 will be ef) Tj ET Q q 0 0 0 rg BT 307.08 728.20 Td (fective beginning with the Company's fiscal year 2019 ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 715.00 Td (annual report, and interim periods thereafter) Tj ET Q q 0 0 0 rg BT 243.31 715.00 Td (, with early adoption permitted. In this update, entities are required to ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 701.80 Td (present all deferred tax liabilities and assets as noncurrent on the balance sheet instead of separating deferred taxes ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 688.60 Td (into current and noncurrent amounts. ) Tj ET Q q 0 0 0 rg BT 214.87 688.60 Td (The standard can be applied either prospectively to all deferred tax liabilities ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 675.40 Td (and assets or retrospectively to all periods presented. ) Tj ET Q q 0 0 0 rg BT 283.79 675.40 Td (As this standard impacts presentation only) Tj ET Q q 0 0 0 rg BT 469.74 675.40 Td (, the adoption of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 662.20 Td (ASU 2015-17 is not expected to have an impact on the Company's financial condition, results of operations or cash ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 649.00 Td (flows.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 67.50 626.80 Td (In January 2016, the F) Tj ET Q q 0 0 0 rg BT 165.36 626.80 Td (ASB issued ) Tj ET Q q 0 0 0 rg BT 219.15 626.80 Td (ASU 2016-01, ) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 286.07 626.80 Td (Financial Instruments \(Subtopic 825-10\): Recognition and ) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 49.50 613.60 Td (Measur) Tj ET Q q 0 0 0 rg BT 82.70 613.60 Td (ement of Financial ) Tj ET Q q 0 0 0 rg BT 168.34 613.60 Td (Assets and Financial Liabilities) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 307.98 613.60 Td ( \("ASU 2016-01"\). ) Tj ET Q q 0 0 0 rg BT 393.35 613.60 Td (ASU 2016-01 will be ef) Tj ET Q q 0 0 0 rg BT 498.86 613.60 Td (fective ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 600.40 Td (beginning with the first quarter of the Company's fiscal year 2019. ) Tj ET Q q 0 0 0 rg BT 344.54 600.40 Td (The amendments require certain equity ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 587.20 Td (investments to be measured at fair value with changes in the fair value recognized through net income. ) Tj ET Q q 0 0 0 rg BT 503.81 587.20 Td (The ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 574.00 Td (Company is currently evaluating the ef) Tj ET Q q 0 0 0 rg BT 220.67 574.00 Td (fect ) Tj ET Q q 0 0 0 rg BT 239.29 574.00 Td (ASU 2016-01 will have on the Company's Consolidated Financial ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 560.80 Td (Statements and disclosures.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 67.50 538.60 Td (In February 2016, the F) Tj ET Q q 0 0 0 rg BT 170.86 538.60 Td (ASB issued ) Tj ET Q q 0 0 0 rg BT 224.65 538.60 Td (ASU 2016-02, ) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 291.57 538.60 Td (Leases) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 321.52 538.60 Td ( ) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 324.27 538.60 Td (\(T) Tj ET Q q 0 0 0 rg BT 333.04 538.60 Td (opic 842\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 374.89 538.60 Td ( \("ASU 2016-02"\). ) Tj ET Q q 0 0 0 rg BT 460.26 538.60 Td (ASU 2016-02 will be ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 525.40 Td (ef) Tj ET Q q 0 0 0 rg BT 57.85 525.40 Td (fective beginning with the first quarter of the Company's fiscal year 2020, with early adoption permitted. ) Tj ET Q q 0 0 0 rg BT 521.50 525.40 Td (The ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 512.20 Td (amendments require the recognition of lease assets and lease liabilities on the balance sheet for most leases, but ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 499.00 Td (recognize expenses in the income statement in a manner similar to current accounting treatment. In addition, ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 485.80 Td (disclosures of key information about leasing arrangements are required. Upon adoption, leases will be recognized ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 472.60 Td (and measured at the beginning of the earliest period presented using a modified retrospective approach. ) Tj ET Q q 0 0 0 rg BT 506.86 472.60 Td (The ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 459.40 Td (Company is currently evaluating the ef) Tj ET Q q 0 0 0 rg BT 220.67 459.40 Td (fect ) Tj ET Q q 0 0 0 rg BT 239.29 459.40 Td (ASU 2016-02 will have on the Company's Consolidated Financial ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 446.20 Td (Statements and disclosures.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 67.50 424.00 Td (In March 2016, the F) Tj ET Q q 0 0 0 rg BT 159.86 424.00 Td (ASB issued ) Tj ET Q q 0 0 0 rg BT 213.65 424.00 Td (ASU 2016-09, ) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 280.57 424.00 Td (Compensation- Stock Compensation) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 440.67 424.00 Td ( ) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 443.42 424.00 Td (\(T) Tj ET Q q 0 0 0 rg BT 452.19 424.00 Td (opic 718\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 494.04 424.00 Td ( \("ASU ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 410.80 Td (2016-09"\). ) Tj ET Q q 0 0 0 rg BT 99.21 410.80 Td (ASU 2016-09 will be ef) Tj ET Q q 0 0 0 rg BT 204.72 410.80 Td (fective beginning with the first quarter of the Company's fiscal year 2018, with ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 397.60 Td (early adoption permitted. ) Tj ET Q q 0 0 0 rg BT 162.93 397.60 Td (The amendment simplifies several aspects of the accounting for share-based payment ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 384.40 Td (transactions, including the income tax consequences, classification of awards as either equity or liabilities, and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 371.20 Td (classification on the statement of cash flows. ) Tj ET Q q 0 0 0 rg BT 249.08 371.20 Td (The Company is currently evaluating the ef) Tj ET Q q 0 0 0 rg BT 440.10 371.20 Td (fect ) Tj ET Q q 0 0 0 rg BT 458.72 371.20 Td (ASU 2016-09 will ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 358.00 Td (have on the Company's Consolidated Financial Statements and disclosures.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 67.50 335.80 Td (In June 2016, the F) Tj ET Q q 0 0 0 rg BT 151.32 335.80 Td (ASB issued ) Tj ET Q q 0 0 0 rg BT 205.11 335.80 Td (ASU 2016-13, ) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 272.03 335.80 Td (Financial Instruments - Cr) Tj ET Q q 0 0 0 rg BT 389.86 335.80 Td (edit Losses \(T) Tj ET Q q 0 0 0 rg BT 449.97 335.80 Td (opic 326\): Measur) Tj ET Q q 0 0 0 rg BT 531.43 335.80 Td (ement ) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 49.50 322.60 Td (of Cr) Tj ET Q q 0 0 0 rg BT 72.02 322.60 Td (edit Losses on Financial Instruments) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 234.57 322.60 Td ( \("ASU 2016-13"\). ) Tj ET Q q 0 0 0 rg BT 319.93 322.60 Td (ASU 2016-13 changes the impairment model for most ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 309.40 Td (financial assets and certain other instruments, which sets forth a new forward-looking impairment model based on ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 296.20 Td (expected losses rather than incurred losses. ) Tj ET Q q 0 0 0 rg BT 241.43 296.20 Td (The guidance also requires increased disclosures. ) Tj ET Q q 0 0 0 rg BT 460.44 296.20 Td (ASU 2016-01 will be ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 283.00 Td (ef) Tj ET Q q 0 0 0 rg BT 57.85 283.00 Td (fective beginning with the first quarter of the Company's fiscal year 2021. ) Tj ET Q q 0 0 0 rg BT 385.56 283.00 Td (The Company is currently evaluating ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 269.80 Td (the ef) Tj ET Q q 0 0 0 rg BT 74.04 269.80 Td (fect ) Tj ET Q q 0 0 0 rg BT 92.66 269.80 Td (ASU 2016-13 will have on the Company's Consolidated Financial Statements and disclosures.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 67.50 247.60 Td (From time to time, new accounting pronouncements are issued by the F) Tj ET Q q 0 0 0 rg BT 381.95 247.60 Td (ASB and other regulatory bodies that are ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 234.40 Td (adopted by the Company as of the specified ef) Tj ET Q q 0 0 0 rg BT 253.35 234.40 Td (fective dates. Unless otherwise discussed, management believes that ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 221.20 Td (the impact of recently issued standards, which are not yet ef) Tj ET Q q 0 0 0 rg BT 312.90 221.20 Td (fective, will not have a material impact on the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 208.00 Td (Company's Consolidated Financial Statements upon adoption.) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 185.80 Td (Forward-looking Statements) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 67.50 163.60 Td (Statements in this Report on Form 10-Q, including those set forth in this section, may be considered "forward ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 150.40 Td (looking statements" within the meaning of Section 21E of the Securities ) Tj ET Q q 0 0 0 rg BT 368.96 150.40 Td (Act of 1934. ) Tj ET Q q 0 0 0 rg BT 426.81 150.40 Td (These forward-looking ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 137.20 Td (statements are often identified by words such as "estimate," "predict," "hope," "may) Tj ET Q q 0 0 0 rg BT 418.06 137.20 Td (," "believe," "anticipate," "plan," ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 124.00 Td ("expect," "require," "intend," "assume," and similar words. Forward-looking statements contained in this Report on ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 110.80 Td (Form 10-Q speak only as of the date of this report or) Tj ET Q q 0 0 0 rg BT 280.92 110.80 Td (, in the case of any document incorporated by reference, the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 97.60 Td (date of that document. ) Tj ET Q q 0 0 0 rg BT 150.41 97.60 Td (W) Tj ET Q q 0 0 0 rg BT 159.91 97.60 Td (e do not intend to publicly update or revise any forward-looking statement contained in ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 84.40 Td (this Report on Form 10-Q or in any document incorporated herein by reference to reflect changed assumptions, the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 71.20 Td (occurrence of unanticipated events or changes to future operating results over time.) Tj ET Q endstream endobj 89 0 obj <>] /Rotate 0 /Contents 90 0 R>> endobj 90 0 obj <> stream BT /F1 10.00 Tf ET 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 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (42) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 67.50 741.40 Td (Forward-looking statements involve risks, uncertainties and other factors, which may cause our actual results, ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 728.20 Td (performance or achievements to be materially dif) Tj ET Q q 0 0 0 rg BT 266.15 728.20 Td (ferent from those expressed or implied by such forward-looking ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 715.00 Td (statements. In addition to the Risk Factors described in Part I, Item 1A. Risk Factors in our Form 10-K, factors that ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 701.80 Td (could af) Tj ET Q q 0 0 0 rg BT 85.04 701.80 Td (fect our results and cause them to materially dif) Tj ET Q q 0 0 0 rg BT 294.37 701.80 Td (fer from those contained in the forward-looking statements ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 688.60 Td (include, but are not limited to:) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 76.50 666.40 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 666.40 Td (W) Tj ET Q q 0 0 0 rg BT 95.00 666.40 Td (e operate in an industry that is currently experiencing a prolonged and significant downturn;) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 76.50 644.20 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 644.20 Td (W) Tj ET Q q 0 0 0 rg BT 95.00 644.20 Td (e may not be able to successfully integrate past acquisitions, including the recent acquisitions of Fairmont ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 631.00 Td (Homes and Chariot Eagle and any future acquisitions to attain the anticipated benefits. Past acquisitions ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 617.80 Td (may adversely impact the Company's liquidity;) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 76.50 595.60 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 595.60 Td (Our involvement in vertically integrated lines of business, including manufactured housing consumer ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 582.40 Td (finance, commercial finance and insurance, exposes the Company to certain risks;) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 76.50 560.20 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 560.20 Td (T) Tj ET Q q 0 0 0 rg BT 91.83 560.20 Td (ightened credit standards, curtailed lending activity by home-only lenders and increased government ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 547.00 Td (lending regulations have contributed to a constrained consumer financing market;) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 76.50 524.80 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 524.80 Td (The availability of wholesale financing for industry retailers is limited due to a reduced number of floor ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 511.60 Td (plan lenders and reduced lending limits;) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 76.50 489.40 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 489.40 Td (Our participation in certain financing programs for the purchase of our products by industry distributors and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 476.20 Td (consumers may expose us to additional risk of credit loss, which could adversely impact the Company's ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 463.00 Td (liquidity and results of operations;) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 76.50 440.80 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 440.80 Td (Our results of operations could be adversely af) Tj ET Q q 0 0 0 rg BT 290.87 440.80 Td (fected by significant warranty and construction defect claims ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 427.60 Td (on factory-built housing;) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 76.50 405.40 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 405.40 Td (W) Tj ET Q q 0 0 0 rg BT 95.00 405.40 Td (e have contingent repurchase obligations related to wholesale financing provided to industry retailers;) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 76.50 383.20 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 383.20 Td (Our operating results could be af) Tj ET Q q 0 0 0 rg BT 229.78 383.20 Td (fected by market forces and declining housing demand;) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 76.50 361.00 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 361.00 Td (W) Tj ET Q q 0 0 0 rg BT 95.00 361.00 Td (e have incurred net losses in certain prior periods and there can be no assurance that we will generate ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 347.80 Td (income in the future;) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 76.50 325.60 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 325.60 Td (A) Tj ET Q q 0 0 0 rg BT 92.84 325.60 Td ( write-of) Tj ET Q q 0 0 0 rg BT 130.82 325.60 Td (f of all or part of our goodwill could adversely af) Tj ET Q q 0 0 0 rg BT 346.27 325.60 Td (fect our operating results and net worth;) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 76.50 303.40 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 303.40 Td (The cyclical and seasonal nature of the manufactured housing industry causes our revenues and operating ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 290.20 Td (results to fluctuate, and we expect this cyclicality and seasonality to continue in the future;) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 76.50 268.00 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 268.00 Td (Our liquidity and ability to raise capital may be limited;) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 76.50 245.80 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 245.80 Td (The manufactured housing industry is highly competitive, and increased competition may result in lower ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 232.60 Td (revenue;) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 76.50 210.40 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 210.40 Td (If we are unable to establish or maintain relationships with independent distributors who sell our homes, our ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 197.20 Td (revenue could decline;) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 76.50 175.00 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 175.00 Td (Our business and operations are concentrated in certain geographic regions, which could be impacted by ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 161.80 Td (market declines;) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 76.50 139.60 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 139.60 Td (Our results of operations can be adversely af) Tj ET Q q 0 0 0 rg BT 281.70 139.60 Td (fected by labor shortages and the pricing and availability of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 126.40 Td (raw materials;) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 76.50 104.20 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 104.20 Td (If the manufactured housing industry is not able to secure favorable local zoning ordinances, our revenue ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 91.00 Td (could decline and our business could be adversely af) Tj ET Q q 0 0 0 rg BT 316.84 91.00 Td (fected;) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 76.50 68.80 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 68.80 Td (The loss of any of our executive of) Tj ET Q q 0 0 0 rg BT 238.95 68.80 Td (ficers could reduce our ability to execute our business strategy and could ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 55.60 Td (have a material adverse ef) Tj ET Q q 0 0 0 rg BT 200.12 55.60 Td (fect on our business and results of operations;) Tj ET Q endstream endobj 91 0 obj <>] /Rotate 0 /Contents 92 0 R>> endobj 92 0 obj <> stream 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 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (43) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 76.50 741.40 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 741.40 Td (Certain provisions of our or) Tj ET Q q 0 0 0 rg BT 207.50 741.40 Td (ganizational documents could delay or make more dif) Tj ET Q q 0 0 0 rg BT 444.03 741.40 Td (ficult a change in control ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 728.20 Td (of our Company;) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 76.50 706.00 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 706.00 Td (V) Tj ET Q q 0 0 0 rg BT 92.03 706.00 Td (olatility of stock price;) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 76.50 683.80 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 683.80 Td (Deterioration in economic conditions and turmoil in financial markets could reduce our earnings and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 670.60 Td (financial condition;) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 76.50 648.40 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 648.40 Td (The cost of operations could be adversely impacted by increased costs of healthcare benefits provided to ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 635.20 Td (employees;) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 76.50 613.00 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 613.00 Td (A) Tj ET Q q 0 0 0 rg BT 92.84 613.00 Td ( prolonged delay by Congress and the President to approve budgets or continuing appropriation ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 599.80 Td (resolutions to facilitate the operations of the federal government could delay the completion of home sales ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 586.60 Td (and/or cause cancellations, and thereby negatively impact our deliveries and revenues;) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 76.50 564.40 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 564.40 Td (Information technology failures or data security breaches could harm our business; and) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 76.50 542.20 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 542.20 Td (W) Tj ET Q q 0 0 0 rg BT 95.00 542.20 Td (e are subject to extensive regulation af) Tj ET Q q 0 0 0 rg BT 264.01 542.20 Td (fecting the production and sale of manufactured housing, which ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 529.00 Td (could adversely af) Tj ET Q q 0 0 0 rg BT 165.93 529.00 Td (fect our profitability) Tj ET Q q 0 0 0 rg BT 254.41 529.00 Td (.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 67.50 506.80 Td (W) Tj ET Q q 0 0 0 rg BT 77.00 506.80 Td (e may make additional written or oral forward-looking statements from time to time in filings with the SEC or ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 493.60 Td (in public news releases or statements. Such additional statements may include, but are not limited to, projections of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 480.40 Td (revenues, income or loss, capital expenditures, acquisitions, plans for future operations, financing needs or plans, ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 467.20 Td (the impact of inflation and plans relating to our products or services, as well as assumptions relating to the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 454.00 Td (foregoing.) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 50.00 431.80 Td (Item 3. Quantitative and Qualitative Disclosur) Tj ET Q q 0 0 0 rg BT 267.35 431.80 Td (es ) Tj ET Q q 0 0 0 rg BT 278.66 431.80 Td (About Market Risk) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 409.60 Td (Market risk is the risk of loss arising from adverse changes in market prices and interest rates. ) Tj ET Q q 0 0 0 rg BT 483.85 409.60 Td (W) Tj ET Q q 0 0 0 rg BT 493.35 409.60 Td (e may from ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 396.40 Td (time to time be exposed to interest rate risk inherent in our financial instruments, but are not currently subject to ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 383.20 Td (foreign currency or commodity price risk. ) Tj ET Q q 0 0 0 rg BT 237.04 383.20 Td (W) Tj ET Q q 0 0 0 rg BT 246.54 383.20 Td (e manage our exposure to these market risks through our regular ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 370.00 Td (operating and financing activities.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 347.80 Td (Our operations are interest rate sensitive. ) Tj ET Q q 0 0 0 rg BT 250.35 347.80 Td (As overall manufactured housing demand can be adversely af) Tj ET Q q 0 0 0 rg BT 521.38 347.80 Td (fected ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 334.60 Td (by increases in interest rates, a significant increase in wholesale or mortgage interest rates may negatively af) Tj ET Q q 0 0 0 rg BT 526.59 334.60 Td (fect the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 321.40 Td (ability of retailers and home buyers to secure financing. Higher interest rates could unfavorably impact our ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 308.20 Td (revenues, gross mar) Tj ET Q q 0 0 0 rg BT 137.47 308.20 Td (gins and net earnings. Our business is also sensitive to the ef) Tj ET Q q 0 0 0 rg BT 403.67 308.20 Td (fects of inflation, particularly with ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 295.00 Td (respect to raw material and transportation costs. ) Tj ET Q q 0 0 0 rg BT 263.01 295.00 Td (W) Tj ET Q q 0 0 0 rg BT 272.51 295.00 Td (e may not be able to of) Tj ET Q q 0 0 0 rg BT 373.11 295.00 Td (fset inflation through increased selling ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 281.80 Td (prices.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 259.60 Td (CountryPlace is exposed to market risk related to the accessibility and terms of long-term financing of its loans. ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 246.40 Td (In the past, CountryPlace accessed the asset-backed securities market to provide term financing of its chattel and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 233.20 Td (non-conforming mortgage originations. ) Tj ET Q q 0 0 0 rg BT 225.97 233.20 Td (At present, independent asset-backed and mortgage-backed securitization ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 220.00 Td (markets are not readily accessible to CountryPlace and other manufactured housing lenders. ) Tj ET Q q 0 0 0 rg BT 456.56 220.00 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 510.83 220.00 Td (, ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 206.80 Td (CountryPlace has not continued to securitize its loan originations as a means to obtain long-term funding.) Tj ET Q endstream endobj 93 0 obj <>] /Rotate 0 /Contents 94 0 R>> endobj 94 0 obj <> stream 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 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (44) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 741.40 Td (W) Tj ET Q q 0 0 0 rg BT 77.50 741.40 Td (e are also exposed to market risks related to our fixed rate consumer and commercial loan notes receivables, ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 728.20 Td (as well as our securitized financings balances. For fixed rate instruments, changes in interest rates do not change ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 715.00 Td (future earnings and cash flows. However) Tj ET Q q 0 0 0 rg BT 229.78 715.00 Td (, changes in interest rates could af) Tj ET Q q 0 0 0 rg BT 378.94 715.00 Td (fect the fair value of these instruments. ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 701.80 Td (Assuming the level of these instruments as of) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 252.86 701.80 Td (July 2, 2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 306.94 701.80 Td (, is held constant, a 1% unfavorable change in average ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 688.60 Td (interest rates would adversely impact the fair value of these instruments, as follows \(in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 640.10 437.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 640.10 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 608.10 437.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 608.10 75.00 -16.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 640.1 m 562.5 640.1 l s BT /F1 11.00 Tf ET q 0 0 0 rg BT 491.80 656.02 Td (Change in Fair) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 511.95 645.02 Td (Value) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 629.02 Td (Consumer loans receivable) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 490.00 629.02 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 533.55 629.02 Td (5,595) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 613.02 Td (Commercial loans receivable) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 490.00 613.02 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 541.80 613.02 Td (176) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 597.02 Td (Securitized financings) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 490.00 597.02 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 541.80 597.02 Td (819) Tj ET Q BT /F1 10.00 Tf ET BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 570.40 Td (In originating loans for sale, CountryPlace issues IRLCs to prospective borrowers and third-party originators. ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 557.20 Td (These IRLCs represent an agreement to extend credit to a loan applicant, or an agreement to purchase a loan from a ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 544.00 Td (third-party originator) Tj ET Q q 0 0 0 rg BT 142.73 544.00 Td (, whereby the interest rate on the loan is set prior to loan closing or sale. ) Tj ET Q q 0 0 0 rg BT 462.05 544.00 Td (These IRLCs bind ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 530.80 Td (CountryPlace to fund the approved loan at the specified rate regardless of whether interest rates or market prices for ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 517.60 Td (similar loans have changed between the commitment date and the closing date. ) Tj ET Q q 0 0 0 rg BT 399.75 517.60 Td (As such, outstanding IRLCs are ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 504.40 Td (subject to interest rate risk and related loan sale price risk during the period from the date of the IRLC through the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 491.20 Td (earlier of the loan sale date or IRLC expiration date. ) Tj ET Q q 0 0 0 rg BT 282.24 491.20 Td (The loan commitments generally range between 30 and 180 ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 478.00 Td (days; however) Tj ET Q q 0 0 0 rg BT 113.40 478.00 Td (, borrowers are not obligated to close the related loans. ) Tj ET Q q 0 0 0 rg BT 356.54 478.00 Td (As a result, CountryPlace is subject to fallout ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 464.80 Td (risk related to IRLCs, which is realized if approved borrowers choose not to close on the loans within the terms of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 451.60 Td (the IRLCs. ) Tj ET Q q 0 0 0 rg BT 100.42 451.60 Td (As of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 127.31 451.60 Td (July 2, 2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 181.39 451.60 Td (, CountryPlace had outstanding IRLCs with a notional amount of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 470.72 451.60 Td ($5.8 million) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 524.50 451.60 Td ( and are ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 438.40 Td (recorded at fair value in accordance with ) Tj ET Q q 0 0 0 rg BT 231.71 438.40 Td (ASC 815. ) Tj ET Q q 0 0 0 rg BT 277.66 438.40 Td (The estimated fair values of IRLCs are based on quoted market ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 425.20 Td (values and are recorded in other assets in the consolidated balance sheets. ) Tj ET Q q 0 0 0 rg BT 376.32 425.20 Td (The fair value of IRLCs is based on the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 412.00 Td (value of the underlying mortgage loan adjusted for: \(i\)estimated cost to complete and originate the loan and \(ii\)the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 398.80 Td (estimated percentage for IRLCs that will result in closed mortgage loans. ) Tj ET Q q 0 0 0 rg BT 374.21 398.80 Td (The initial and subsequent changes in the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 385.60 Td (value of IRLCs are a component of current income. ) Tj ET Q q 0 0 0 rg BT 279.09 385.60 Td (Assuming CountryPlace's level of IRLCs ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 463.47 385.60 Td (as of July 2, 2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 541.39 385.60 Td ( is ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 372.40 Td (held constant, a 1% increase in average interest rates would decrease the fair value of CountryPlace's obligations by ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 359.20 Td (approximately ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 116.28 359.20 Td ($189,000) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 157.53 359.20 Td (.) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 50.00 332.00 Td (Item 4. Contr) Tj ET Q q 0 0 0 rg BT 113.65 332.00 Td (ols and Pr) Tj ET Q q 0 0 0 rg BT 161.12 332.00 Td (ocedur) Tj ET Q q 0 0 0 rg BT 193.31 332.00 Td (es) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 309.80 Td (\(a\) Disclosure Controls and Procedures) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 287.60 Td (W) Tj ET Q q 0 0 0 rg BT 77.50 287.60 Td (e carried out an evaluation, under the supervision and with the participation of our management, including ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 274.40 Td (our Chief Executive Of) Tj ET Q q 0 0 0 rg BT 152.74 274.40 Td (ficer and Chief Financial Of) Tj ET Q q 0 0 0 rg BT 276.55 274.40 Td (ficer) Tj ET Q q 0 0 0 rg BT 296.25 274.40 Td (, of the ef) Tj ET Q q 0 0 0 rg BT 338.20 274.40 Td (fectiveness of the design and operation of our ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 261.20 Td (disclosure controls and procedures \(as defined in the Exchange ) Tj ET Q q 0 0 0 rg BT 329.49 261.20 Td (Act Rules 13a-15\(e\) and 15d-15\(e\)\). Based upon ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 248.00 Td (that evaluation, our Chief Executive Of) Tj ET Q q 0 0 0 rg BT 223.30 248.00 Td (ficer and Chief Financial Of) Tj ET Q q 0 0 0 rg BT 347.11 248.00 Td (ficer concluded that, as of the end of the period ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 234.80 Td (covered in this report, our disclosure controls and procedures were ef) Tj ET Q q 0 0 0 rg BT 354.33 234.80 Td (fective.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 212.60 Td (\(b\) Changes in Internal Control over Financial Reporting) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 190.40 Td (Other than the integration of Fairmont Homes and Chariot Eagle into our internal control framework, there have ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 177.20 Td (been no changes in our internal controls over financial reporting \(as defined in Exchange ) Tj ET Q q 0 0 0 rg BT 443.42 177.20 Td (Act Rules 13a-15\(f\) and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 164.00 Td (15d-15\(f\)\) that occurred during the fiscal quarter ended ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 296.17 164.00 Td (July 2, 2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 350.26 164.00 Td (, which have materially af) Tj ET Q q 0 0 0 rg BT 464.59 164.00 Td (fected, or are ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 150.80 Td (reasonably likely to materially af) Tj ET Q q 0 0 0 rg BT 195.19 150.80 Td (fect, our internal control over financial reporting.) Tj ET Q endstream endobj 95 0 obj <>] /Rotate 0 /Contents 96 0 R>> endobj 96 0 obj <> stream 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 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (45) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 221.50 741.60 Td (P) Tj ET Q q 0 0 0 rg BT 227.40 741.60 Td (AR) Tj ET Q q 0 0 0 rg BT 242.90 741.60 Td (T) Tj ET Q q 0 0 0 rg BT 250.04 741.60 Td ( II. OTHER INFORMA) Tj ET Q q 0 0 0 rg BT 362.29 741.60 Td (TION) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 50.00 714.35 Td (Item 1. Legal Pr) Tj ET Q q 0 0 0 rg BT 126.17 714.35 Td (oceedings ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 692.15 Td (Information regarding reportable legal proceedings is contained in Part I, Item 3, ) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 425.99 692.15 Td (Legal Pr) Tj ET Q q 0 0 0 rg BT 464.39 692.15 Td (oceedings) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 508.37 692.15 Td (, in our ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 678.95 Td (Form 10-K. ) Tj ET Q q 0 0 0 rg BT 104.50 678.95 Td (The following describes legal proceedings, if any) Tj ET Q q 0 0 0 rg BT 320.96 678.95 Td (, that became reportable during the period ended ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 536.90 678.95 Td (July ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 665.75 Td (2, 2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 83.00 665.75 Td (, and, if applicable, amends and restates descriptions of previously reported legal proceedings in which there ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 652.55 Td (have been material developments during such quarter) Tj ET Q q 0 0 0 rg BT 284.58 652.55 Td (. ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 630.35 Td (W) Tj ET Q q 0 0 0 rg BT 77.50 630.35 Td (e are party to certain legal proceedings that arise in the ordinary course and are incidental to our business. ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 617.15 Td (Certain of the claims pending against us in these proceedings allege, among other things, breach of contract, breach ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 603.95 Td (of express and implied warranties, construction defect, deceptive trade practices, unfair insurance practices, product ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 590.75 Td (liability and personal injury) Tj ET Q q 0 0 0 rg BT 171.18 590.75 Td (. ) Tj ET Q q 0 0 0 rg BT 176.07 590.75 Td (Although litigation is inherently uncertain, based on past experience and the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 577.55 Td (information currently available, management does not believe that the currently pending and threatened litigation or ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 564.35 Td (claims will have a material adverse ef) Tj ET Q q 0 0 0 rg BT 215.95 564.35 Td (fect on the Company's consolidated financial position, liquidity or results of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 551.20 Td (operations. However) Tj ET Q q 0 0 0 rg BT 141.20 551.20 Td (, future events or circumstances currently unknown to management will determine whether the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 538.00 Td (resolution of pending or threatened litigation or claims will ultimately have a material ef) Tj ET Q q 0 0 0 rg BT 438.65 538.00 Td (fect on our consolidated ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 524.80 Td (financial position, liquidity or results of operations in any future reporting periods.) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 50.00 497.55 Td (Item 1A. Risk Factors ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 475.35 Td (In addition to the other information set forth in this Report, you should carefully consider the factors discussed ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 462.20 Td (in Part I, Item 1A, ) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 132.79 462.20 Td (Risk Factors) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 188.70 462.20 Td (, in our Form 10-K, which could materially af) Tj ET Q q 0 0 0 rg BT 390.12 462.20 Td (fect our business, financial condition ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 448.95 Td (or future results. ) Tj ET Q q 0 0 0 rg BT 124.95 448.95 Td (The risks described in this Report and in our Form 10-K are not the only risks facing our ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 435.75 Td (Company) Tj ET Q q 0 0 0 rg BT 92.06 435.75 Td (. ) Tj ET Q q 0 0 0 rg BT 96.95 435.75 Td (Additional risks and uncertainties not currently known to us or that we currently deem to be immaterial ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 422.55 Td (also may materially adversely af) Tj ET Q q 0 0 0 rg BT 192.74 422.55 Td (fect our business, financial condition and/or operating results. ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 50.00 395.35 Td (Item 6. Exhibits ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 373.15 Td (See Exhibit Index.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 350.95 Td (All other items required under Part II are omitted because they are not applicable.) Tj ET Q endstream endobj 97 0 obj <>] /Rotate 0 /Contents 98 0 R>> endobj 98 0 obj <> stream BT /F1 10.00 Tf ET 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 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (46) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 270.60 741.60 Td (SIGNA) Tj ET Q q 0 0 0 rg BT 304.63 741.60 Td (TURES) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 719.40 Td (Pursuant to the requirements of the Securities Exchange ) Tj ET Q q 0 0 0 rg BT 316.65 719.40 Td (Act of 1934, the registrant has duly caused this report ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 706.20 Td (to be signed on its behalf by the undersigned thereunto duly authorized.) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 618.7 m 255.5 618.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 562.7 m 255.5 562.7 l s BT /F2 11.00 Tf ET 0 0 0 RG /GS0 gs 1.05 w 0 i [] 0 d 1 J 1 j 3 M 53 684.028857421875 m 156.2861328125 684.028857421875 l s q 0 0 0 rg BT 53.00 685.75 Td (Cavco Industries, Inc.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 671.57 Td (Registrant) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 641.57 Td (Signature) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 268.00 641.57 Td (Title) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 473.00 641.57 Td (Date) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 622.57 Td (/s/ Joseph H. Stegmayer) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 268.00 622.57 Td (Chairman, President and) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 473.00 622.57 Td (August 10, 2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 608.57 Td (Joseph H. Stegmayer) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 268.00 608.57 Td (Chief Executive Officer) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 268.00 594.57 Td (\(Principal Executive Officer\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 566.57 Td (/s/ Daniel L. Urness) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 268.00 566.57 Td (Executive Vice President, Treasurer and) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 473.00 566.57 Td (August 10, 2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 552.57 Td (Daniel L. Urness) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 268.00 552.57 Td (Chief Financial Officer) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 268.00 538.57 Td (\(Principal Financial and Accounting Officer\)) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 99 0 obj <>] /Rotate 0 /Contents 100 0 R>> endobj 100 0 obj <> stream 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 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (47) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 263.45 741.60 Td (EXHIBIT) Tj ET Q q 0 0 0 rg BT 310.32 741.60 Td ( INDEX) Tj ET Q BT /F2 11.00 Tf ET 0 0 0 RG /GS0 gs 1.05 w 0 i [] 0 d 1 J 1 j 3 M 60.55 718.228857421875 m 95.39765625 718.228857421875 l s q 0 0 0 rg BT 60.55 719.95 Td (Exhibit) Tj ET Q BT /F2 11.00 Tf ET 0 0 0 RG /GS0 gs 1.05 w 0 i [] 0 d 1 J 1 j 3 M 69.9 707.228857421875 m 86.09384765625 707.228857421875 l s q 0 0 0 rg BT 69.90 708.95 Td (No.) Tj ET Q BT /F2 11.00 Tf ET 0 0 0 RG /GS0 gs 1.05 w 0 i [] 0 d 1 J 1 j 3 M 109 707.228857421875 m 143.84765625 707.228857421875 l s q 0 0 0 rg BT 109.00 708.95 Td (Exhibit) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.35 693.92 Td (10.1) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 109.00 693.92 Td (Form of Stock Option Agreement for Stock Incentive Plan) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.35 677.92 Td (31.1) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 109.00 677.92 Td (Certification of the Principal Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 109.00 666.92 Td (2002 - Rule 13a-14\(a\)/15d-14\(a\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.35 650.92 Td (31.2) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 109.00 650.92 Td (Certification of the Principal Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 109.00 639.92 Td (2002 - Rule 13a-14\(a\)/15d-14\(a\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 72.50 623.92 Td (32) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 109.00 623.92 Td (Certification of the Chief Executive Officer and Chief Financial Officer pursuant to 18 U.S.C.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 109.00 612.92 Td (Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 69.75 596.92 Td (101) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 109.00 596.92 Td (The following materials contained in this Quarterly Report on Form 10-Q for the period ended July) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 109.00 585.92 Td (2, 2016 were formatted in XBRL \(eXtensible Business Reporting Language\): \(i\) Consolidated) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 109.00 574.92 Td (Balance Sheets, \(ii\) Consolidated Statements of Comprehensive Income, \(iii\) Consolidated) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 109.00 563.92 Td (Statements of Cash Flows and \(iv\) Notes to Consolidated Financial Statements) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 101 0 obj <> endobj 102 0 obj <> stream BT /F2 11.00 Tf ET q 0 0 0 rg BT 505.15 741.60 Td (Exhibit 10.1) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 237.30 722.40 Td (CA) Tj ET Q q 0 0 0 rg BT 251.77 722.40 Td (VCO INDUSTRIES, INC.) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 226.70 709.20 Td (ST) Tj ET Q q 0 0 0 rg BT 239.96 709.20 Td (OCK OPTION ) Tj ET Q q 0 0 0 rg BT 313.30 709.20 Td (AGREEMENT) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 690.00 Td (Dear ) Tj ET Q q 0 0 0 rg BT 74.12 690.00 Td ([Optionee]:) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 663.60 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 663.60 Td (Ef) Tj ET Q q 0 0 0 rg BT 96.18 663.60 Td (fective [Date of Grant], you have been granted a non-qualified Option to purchase up to [Number of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 650.40 Td (Shares] shares of the common stock, par value $.01 per share, of Cavco Industries, Inc., a Delaware corporation \(the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 637.20 Td ("Company"\), for $[Option Price] per share \(the "Option"\). ) Tj ET Q q 0 0 0 rg BT 311.84 637.20 Td (This Option is granted under the Cavco Industries, Inc. ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 624.00 Td (2005 Stock Incentive Plan \(as such plan may be amended from time to time, the "Plan"\). ) Tj ET Q q 0 0 0 rg BT 444.81 624.00 Td (A) Tj ET Q q 0 0 0 rg BT 452.14 624.00 Td ( copy of the Plan is ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 610.80 Td (available to you upon request to the Corporate Secretary during the term of this Option. ) Tj ET Q q 0 0 0 rg BT 440.51 610.80 Td (This Option will terminate ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 597.60 Td (upon the close of business on [T) Tj ET Q q 0 0 0 rg BT 191.60 597.60 Td (ermination Date] unless earlier terminated as described herein or in the Plan. ) Tj ET Q q 0 0 0 rg BT 534.11 597.60 Td (This ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 584.40 Td (Option will vest and become exercisable in the amounts and on the dates shown below) Tj ET Q q 0 0 0 rg BT 430.53 584.40 Td (, provided that, except as ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 571.20 Td (expressly provided in the proviso of the first sentence of the next paragraph, the optionee must be in continuous ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 558.00 Td (Employment or in continuous service as a Director from the Grant Date through the date shown below for the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 544.80 Td (Option to vest as to the amount shown for such date: [V) Tj ET Q q 0 0 0 rg BT 294.71 544.80 Td (esting Schedule].) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 86.00 519.60 Td (Except as otherwise provided below in this award agreement: \(i\) all rights to exercise this Option shall ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 506.40 Td (terminate four \(4\) months after the date the optionee ceases to be an employee of the Company) Tj ET Q q 0 0 0 rg BT 467.14 506.40 Td (, or ceases to be a ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 493.20 Td (Director) Tj ET Q q 0 0 0 rg BT 86.21 493.20 Td (, whichever may occur later) Tj ET Q q 0 0 0 rg BT 208.23 493.20 Td (, for any reason other than death or Disability) Tj ET Q q 0 0 0 rg BT 407.60 493.20 Td (, \(ii\) in the event of the optionee's ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 480.00 Td (death, this Option will terminate fifteen \(15\) months thereafter and \(iii\) in the event of the optionee's Disability and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 466.80 Td (resulting termination of Employment, this Option will terminate six \(6\) months after such optionee's Employment ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 453.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.95 453.60 Td (ermination Date; provided however) Tj ET Q q 0 0 0 rg BT 212.21 453.60 Td (, if this Option is held by a Director who, on the date he or she ceases to be a ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 440.40 Td (Director \(and, if also an employee, ceases to be an employee\), has at least ten \(10\) years of service as a Director) Tj ET Q q 0 0 0 rg BT 541.90 440.40 Td (, ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 427.20 Td (then all Shares subject to this Option will vest on the date the Director ceases to be a Director) Tj ET Q q 0 0 0 rg BT 460.72 427.20 Td (, and all rights to ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 414.00 Td (exercise this Option will terminate three \(3\) years thereafter) Tj ET Q q 0 0 0 rg BT 312.67 414.00 Td (. In no case may this Option be exercised later than ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 400.80 Td ([T) Tj ET Q q 0 0 0 rg BT 59.61 400.80 Td (ermination Date]. If the Employment of the optionee or the optionee's service as a Director is terminated for ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 387.60 Td (cause, this Option shall thereafter be null and void for all purposes.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 362.40 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 362.40 Td (The Option may be exercised in whole or in part by delivering tothe Companywritten notice of exercise ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 349.20 Td (together with payment in full for the shares being purchased upon such exercise. ) Tj ET Q q 0 0 0 rg BT 406.58 349.20 Td (The purchase price for any shares ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 336.00 Td (purchased pursuant to the exercise of an Option, and in the case of an employee, applicable tax withholdings will be ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 322.80 Td (paid by any one or a combination of the following: \(a\)delivery of cash, check or wire transfer) Tj ET Q q 0 0 0 rg BT 463.13 322.80 Td (, \(b\)ef) Tj ET Q q 0 0 0 rg BT 492.56 322.80 Td (fecting a ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 309.60 Td (broker) Tj ET Q q 0 0 0 rg BT 78.49 309.60 Td (-assisted cashless exercise, which involves the immediate sale of the stock received upon exercise in the open ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 296.40 Td (market through an approved broker who will pay to the Company the exercise price and in the case of an employee ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 283.20 Td (applicable tax withholdings attributable to such exercise or \(c\) by a) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 348.43 283.20 Td (Net Shar) Tj ET Q q 0 0 0 rg BT 392.94 283.20 Td (e Exer) Tj ET Q q 0 0 0 rg BT 420.93 283.20 Td (cise) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 444.15 283.20 Td (arrangement pursuant to ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 270.00 Td (whichthe Companywill reduce the number of shares issuable upon exercise by the lar) Tj ET Q q 0 0 0 rg BT 431.02 270.00 Td (gest whole number of shares ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 256.80 Td (with an aggregate fair market value that does not exceed the aggregate exercise price \(with the remainder of the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 243.60 Td (exercise price to be paid in cash\). For the Purpose of a Net Share Exercise, the term "fair market value" shall mean ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 230.40 Td (the closing price of a Share as reported on the NASDAQ Global Select Market on the trading date immediately ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 217.20 Td (preceding the date that the Option is exercised.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 86.00 190.80 Td (This Option is subject to the Plan, and the Plan will govern where there is any inconsistency between the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 177.60 Td (Plan and this Option. ) Tj ET Q q 0 0 0 rg BT 148.19 177.60 Td (The provisions of the Plan are also provisions of this Option, and all terms, provisions and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 164.40 Td (definitions set forth in the Plan are incorporated in this Option and made a part of this Option for all purposes. ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 151.20 Td (Capitalized terms used but not defined in this Option will have the meanings assigned to such terms in the Plan. ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 138.00 Td (This Option has been signed in duplicate by Cavco Industries, Inc. and delivered to you, and \(when you sign below\) ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 124.80 Td (has been accepted by you ef) Tj ET Q q 0 0 0 rg BT 173.49 124.80 Td (fective as of [Ef) Tj ET Q q 0 0 0 rg BT 243.84 124.80 Td (fective Date].) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 50.00 99.60 Td (ACCEPTED ) Tj ET Q q 0 0 0 rg BT 113.26 99.60 Td (BY) Tj ET Q q 0 0 0 rg BT 128.13 99.60 Td ( ) Tj ET Q q 0 0 0 rg BT 130.88 99.60 Td (OPTIONEE) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 188.94 99.60 Td ( ) Tj ET Q q 0 0 0 rg BT 194.00 99.60 Td ( ) Tj ET Q q 0 0 0 rg BT 230.00 99.60 Td ( ) Tj ET Q q 0 0 0 rg BT 266.00 99.60 Td ( ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 302.00 99.60 Td (CA) Tj ET Q q 0 0 0 rg BT 316.47 99.60 Td (VCO ) Tj ET Q q 0 0 0 rg BT 343.66 99.60 Td (INDUSTRIES, ) Tj ET Q q 0 0 0 rg BT 416.41 99.60 Td (INC.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 86.40 Td (as ) Tj ET Q q 0 0 0 rg BT 61.91 86.40 Td (of ) Tj ET Q q 0 0 0 rg BT 73.83 86.40 Td ([Ef) Tj ET Q q 0 0 0 rg BT 87.67 86.40 Td (fective ) Tj ET Q q 0 0 0 rg BT 120.35 86.40 Td (Date]) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 60.00 Td (_________________________________ ) Tj ET Q q 0 0 0 rg BT 266.00 60.00 Td ( ) Tj ET Q q 0 0 0 rg BT 302.00 60.00 Td (By: ) Tj ET Q q 0 0 0 rg BT 320.64 60.00 Td (_________________________________) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 46.80 Td ([Optionee] ) Tj ET Q q 0 0 0 rg BT 122.00 46.80 Td ( ) Tj ET Q q 0 0 0 rg BT 158.00 46.80 Td ( ) Tj ET Q q 0 0 0 rg BT 194.00 46.80 Td ( ) Tj ET Q q 0 0 0 rg BT 230.00 46.80 Td ( ) Tj ET Q q 0 0 0 rg BT 266.00 46.80 Td ( ) Tj ET Q q 0 0 0 rg BT 302.00 46.80 Td ([Corporate ) Tj ET Q q 0 0 0 rg BT 352.40 46.80 Td (Of) Tj ET Q q 0 0 0 rg BT 363.81 46.80 Td (ficer]) Tj ET Q endstream endobj 103 0 obj <> endobj 104 0 obj <> stream BT /F2 11.00 Tf ET q 0 0 0 rg BT 505.15 741.60 Td (Exhibit 31.1) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 66.55 722.40 Td (Certification of Principal Executive Officer) Tj ET Q q 0 0 0 rg BT 269.17 722.40 Td ( Pursuant to Section 302 of the Sarbanes-Oxley ) Tj ET Q q 0 0 0 rg BT 492.23 722.40 Td (Act of 2002) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 684.00 Td (I, Joseph H. Stegmayer) Tj ET Q q 0 0 0 rg BT 151.90 684.00 Td (, certify that:) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 664.80 Td (1. ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 664.80 Td (I have reviewed this quarterly report on Form 10-Q of Cavco Industries, Inc.; ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 645.60 Td (2. ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 645.60 Td (Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 632.40 Td (material fact necessary to make the statements made, in light of the circumstances under which such statements ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 619.20 Td (were made, not misleading with respect to the period covered by this report; ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 600.00 Td (3. ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 600.00 Td (Based on my knowledge, the financial statements, and other financial information included in this report, fairly ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 586.80 Td (present in all material respects the financial condition, results of operations and cash flows of the registrant as ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 573.60 Td (of, and for) Tj ET Q q 0 0 0 rg BT 113.68 573.60 Td (, the periods presented in this report; ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 554.40 Td (4. ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 554.40 Td (The registrant's other certifying of) Tj ET Q q 0 0 0 rg BT 218.23 554.40 Td (ficer\(s\) and I are responsible for establishing and maintaining disclosure ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 541.20 Td (controls and procedures \(as defined in Exchange ) Tj ET Q q 0 0 0 rg BT 283.95 541.20 Td (Act Rules 13a-15\(e\) and 15d-15\(e\)\) and internal control over ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 528.00 Td (financial reporting \(as defined in Exchange ) Tj ET Q q 0 0 0 rg BT 260.42 528.00 Td (Act Rules 13a-15\(f\) and 15d-15\(f\)\) for the registrant and have:) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 508.80 Td (a\) ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 86.00 508.80 Td (Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 86.00 495.60 Td (designed under our supervision, to ensure that material information relating to the registrant, including its ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 86.00 482.40 Td (consolidated subsidiaries, is made known to us by others within those entities, particularly during the period ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 86.00 469.20 Td (in which this report is being prepared; ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 450.00 Td (b\) ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 86.00 450.00 Td (Designed such internal control over financial reporting, or caused such internal control over financial ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 86.00 436.80 Td (reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 86.00 423.60 Td (financial reporting and the preparation of financial statements for external purposes in accordance with ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 86.00 410.40 Td (generally accepted accounting principles; ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 391.20 Td (c\) ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 86.00 391.20 Td (Evaluated the ef) Tj ET Q q 0 0 0 rg BT 157.26 391.20 Td (fectiveness of the registrant's disclosure controls and procedures and presented in this ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 86.00 378.00 Td (report our conclusions about the ef) Tj ET Q q 0 0 0 rg BT 238.84 378.00 Td (fectiveness of the disclosure controls and procedures, as of the end of the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 86.00 364.80 Td (period covered by this report based on such evaluation; and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 345.60 Td (d\) ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 86.00 345.60 Td (Disclosed in this report any change in the registrant's internal control over financial reporting that occurred ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 86.00 332.40 Td (during the registrant's most recent fiscal quarter \(the registrant's fourth fiscal quarter in the case of an ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 86.00 319.20 Td (annual report\) that has materially af) Tj ET Q q 0 0 0 rg BT 243.09 319.20 Td (fected, or is reasonably likely to materially af) Tj ET Q q 0 0 0 rg BT 442.65 319.20 Td (fect, the registrant's ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 86.00 306.00 Td (internal control over financial reporting; and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 286.80 Td (5. ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 286.80 Td (The registrant's other certifying of) Tj ET Q q 0 0 0 rg BT 218.23 286.80 Td (ficer\(s\) and I have disclosed, based on our most recent evaluation of internal ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 273.60 Td (control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 260.40 Td (directors \(or persons performing the equivalent functions\):) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 241.20 Td (a\) ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 86.00 241.20 Td (All significant deficiencies and material weaknesses in the design or operation of internal control over ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 86.00 228.00 Td (financial reporting which are reasonably likely to adversely af) Tj ET Q q 0 0 0 rg BT 358.86 228.00 Td (fect the registrant's ability to record, process, ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 86.00 214.80 Td (summarize and report financial information; and) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 195.60 Td (b\) ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 86.00 195.60 Td (Any fraud, whether or not material, that involves management or other employees who have a significant ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 86.00 182.40 Td (role in the registrant's internal control over financial reporting.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 163.20 Td () Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 90.5 120.70000000000005 m 230.5 120.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 90.5 120.70000000000005 m 230.5 120.70000000000005 l s BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 141.62 Td (Dated:) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 93.00 141.62 Td (August 10, 2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 125.62 Td (By:) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 93.00 125.62 Td (/s/ Joseph H. Stegmayer) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 93.00 109.62 Td (Joseph H. Stegmayer) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 93.00 93.62 Td (Chairman, President and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 93.00 82.62 Td (Chief Executive Of) Tj ET Q q 0 0 0 rg BT 178.33 82.62 Td (ficer) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 105 0 obj <> endobj 106 0 obj <> stream BT /F2 11.00 Tf ET q 0 0 0 rg BT 505.15 741.60 Td (Exhibit 31.2) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 67.45 722.40 Td (Certification of Principal Financial Officer) Tj ET Q q 0 0 0 rg BT 268.26 722.40 Td ( Pursuant to Section 302 of the Sarbanes-Oxley ) Tj ET Q q 0 0 0 rg BT 491.32 722.40 Td (Act of 2002) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 684.00 Td (I, Daniel L. Urness, certify that:) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 664.80 Td (1. ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 664.80 Td (I have reviewed this quarterly report on Form 10-Q of Cavco Industries, Inc.; ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 645.60 Td (2. ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 645.60 Td (Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 632.40 Td (material fact necessary to make the statements made, in light of the circumstances under which such statements ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 619.20 Td (were made, not misleading with respect to the period covered by this report; ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 600.00 Td (3. ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 600.00 Td (Based on my knowledge, the financial statements, and other financial information included in this report, fairly ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 586.80 Td (present in all material respects the financial condition, results of operations and cash flows of the registrant as ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 573.60 Td (of, and for) Tj ET Q q 0 0 0 rg BT 113.68 573.60 Td (, the periods presented in this report; ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 554.40 Td (4. ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 554.40 Td (The registrant's other certifying of) Tj ET Q q 0 0 0 rg BT 218.23 554.40 Td (ficer\(s\) and I are responsible for establishing and maintaining disclosure ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 541.20 Td (controls and procedures \(as defined in Exchange ) Tj ET Q q 0 0 0 rg BT 283.95 541.20 Td (Act Rules 13a-15\(e\) and 15d-15\(e\)\) and internal control over ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 528.00 Td (financial reporting \(as defined in Exchange ) Tj ET Q q 0 0 0 rg BT 260.42 528.00 Td (Act Rules 13a-15\(f\) and 15d-15\(f\)\) for the registrant and have:) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 508.80 Td (a\) ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 86.00 508.80 Td (Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 86.00 495.60 Td (designed under our supervision, to ensure that material information relating to the registrant, including its ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 86.00 482.40 Td (consolidated subsidiaries, is made known to us by others within those entities, particularly during the period ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 86.00 469.20 Td (in which this report is being prepared; ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 450.00 Td (b\) ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 86.00 450.00 Td (Designed such internal control over financial reporting, or caused such internal control over financial ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 86.00 436.80 Td (reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 86.00 423.60 Td (financial reporting and the preparation of financial statements for external purposes in accordance with ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 86.00 410.40 Td (generally accepted accounting principles; ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 391.20 Td (c\) ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 86.00 391.20 Td (Evaluated the ef) Tj ET Q q 0 0 0 rg BT 157.26 391.20 Td (fectiveness of the registrant's disclosure controls and procedures and presented in this ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 86.00 378.00 Td (report our conclusions about the ef) Tj ET Q q 0 0 0 rg BT 238.84 378.00 Td (fectiveness of the disclosure controls and procedures, as of the end of the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 86.00 364.80 Td (period covered by this report based on such evaluation; and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 345.60 Td (d\) ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 86.00 345.60 Td (Disclosed in this report any change in the registrant's internal control over financial reporting that occurred ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 86.00 332.40 Td (during the registrant's most recent fiscal quarter \(the registrant's fourth fiscal quarter in the case of an ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 86.00 319.20 Td (annual report\) that has materially af) Tj ET Q q 0 0 0 rg BT 243.09 319.20 Td (fected, or is reasonably likely to materially af) Tj ET Q q 0 0 0 rg BT 442.65 319.20 Td (fect, the registrant's ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 86.00 306.00 Td (internal control over financial reporting; and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 286.80 Td (5. ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 286.80 Td (The registrant's other certifying of) Tj ET Q q 0 0 0 rg BT 218.23 286.80 Td (ficer\(s\) and I have disclosed, based on our most recent evaluation of internal ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 273.60 Td (control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 260.40 Td (directors \(or persons performing the equivalent functions\):) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 241.20 Td (a\) ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 86.00 241.20 Td (All significant deficiencies and material weaknesses in the design or operation of internal control over ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 86.00 228.00 Td (financial reporting which are reasonably likely to adversely af) Tj ET Q q 0 0 0 rg BT 358.86 228.00 Td (fect the registrant's ability to record, process, ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 86.00 214.80 Td (summarize and report financial information; and) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 195.60 Td (b\) ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 86.00 195.60 Td (Any fraud, whether or not material, that involves management or other employees who have a significant ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 86.00 182.40 Td (role in the registrant's internal control over financial reporting.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 163.20 Td () Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 90.5 120.70000000000005 m 230.5 120.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 90.5 120.70000000000005 m 230.5 120.70000000000005 l s BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 141.62 Td (Dated:) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 93.00 141.62 Td (August 10, 2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 125.62 Td (By:) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 93.00 125.62 Td (/s/ Daniel L. Urness) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 93.00 109.62 Td (Daniel L. Urness) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 93.00 94.57 Td (Executive Vice President,) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 93.00 83.57 Td (Treasurer, and Chief Financial) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 93.00 72.57 Td (Officer) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 107 0 obj <> endobj 108 0 obj <> stream BT /F2 11.00 Tf ET q 0 0 0 rg BT 513.40 741.60 Td (Exhibit 32) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 53.05 722.40 Td (Certification of Chief Executive Officer) Tj ET Q q 0 0 0 rg BT 237.95 722.40 Td ( and Chief Financial Officer) Tj ET Q q 0 0 0 rg BT 369.74 722.40 Td ( Pursuant to 18 U.S.C. 1350, ) Tj ET Q q 0 0 0 rg BT 504.20 722.40 Td (As ) Tj ET Q q 0 0 0 rg BT 518.57 722.40 Td (Adopted ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 169.25 709.20 Td (Pursuant to Section 906 of the Sarbanes-Oxley ) Tj ET Q q 0 0 0 rg BT 389.56 709.20 Td (Act of 2002 ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 670.80 Td (In connection with the Quarterly Report of Cavco Industries, Inc. \(the Registrant\) on Form 10-Q for the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 657.60 Td (period ending ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 113.54 657.60 Td (July 2, 2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 167.63 657.60 Td ( as filed with the Securities and Exchange Commission on the date hereof \(the Report\), ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 644.40 Td (we, Joseph H. Stegmayer and Daniel L. Urness, Chief Executive Of) Tj ET Q q 0 0 0 rg BT 348.55 644.40 Td (ficer and Chief Financial Of) Tj ET Q q 0 0 0 rg BT 472.36 644.40 Td (ficer) Tj ET Q q 0 0 0 rg BT 492.07 644.40 Td (, respectively) Tj ET Q q 0 0 0 rg BT 550.00 644.40 Td (, ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 631.20 Td (of the Registrant, certify) Tj ET Q q 0 0 0 rg BT 156.80 631.20 Td (, pursuant to 18U.S.C.1350, as adopted pursuant to 906 of the Sarbanes-Oxley ) Tj ET Q q 0 0 0 rg BT 520.06 631.20 Td (Act of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 618.00 Td (2002, that to our knowledge:) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 595.80 Td (\(1\) ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 595.80 Td (The Report fully complies with the requirements of section 13\(a\) or 15\(d\) of the Securities Exchange ) Tj ET Q q 0 0 0 rg BT 515.20 595.80 Td (Act of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 582.60 Td (1934, as amended; and) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 560.40 Td (\(2\) ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 560.40 Td (The information contained in the Report fairly presents, in all material respects, the financial condition and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.00 547.20 Td (results of operations of the Registrant.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 525.00 Td () Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 469.5 m 219.5 469.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 469.5 m 219.5 469.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 392.5 m 219.5 392.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 392.5 m 219.5 392.5 l s BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 503.42 Td (August 10, 2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 474.42 Td (/s/ Joseph H. Stegmayer) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 458.42 Td (Joseph H. Stegmayer) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 442.42 Td (Chairman, President and) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 426.42 Td (Chief Executive Officer) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 397.42 Td (/s/ Daniel L. Urness) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 381.42 Td (Daniel L. Urness) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 366.37 Td (Executive Vice President, Treasurer,) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 53.00 355.42 Td (and Chief Financial Officer) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 109 0 obj <> /View <>>>>> endobj 110 0 obj <> /View <>>>>> endobj 111 0 obj <> endobj 112 0 obj <> stream xy\E7~n{{w'd'52 HaGPPA!"" b-&h,+TLy?:uk?uΩoH""?W~.Xv3&rm 2\jMgwm'CڴzlycǏ\ rBjx\DsV@{twocmC{Iwl11z:1m!t-\q3D.:yz'Wɨp[_F=>E"ǢӦ/|K&_~=!wn-az3¦h$7,ؑ2Oo_eSFLlk}Fg[F>|;