0001354488-15-001429.txt : 20150331 0001354488-15-001429.hdr.sgml : 20150331 20150331082457 ACCESSION NUMBER: 0001354488-15-001429 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20150331 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20150331 DATE AS OF CHANGE: 20150331 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PHOENIX COMPANIES INC/DE CENTRAL INDEX KEY: 0001129633 STANDARD INDUSTRIAL CLASSIFICATION: LIFE INSURANCE [6311] IRS NUMBER: 060493340 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-16517 FILM NUMBER: 15736634 BUSINESS ADDRESS: STREET 1: ONE AMERICAN ROW STREET 2: PO BOX 5056 CITY: HARTFORD STATE: CT ZIP: 061025056 BUSINESS PHONE: 8604035000 MAIL ADDRESS: STREET 1: ONE AMERICAN ROW STREET 2: PO BOX 5056 CITY: HARTFORD STATE: CT ZIP: 061025056 8-K 1 pnx_8k.htm CURRENT REPORT pnx_8k.htm
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
—————————
FORM 8-K
—————————
CURRENT REPORT
 
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): March 31, 2015

The Phoenix Companies, Inc.
(Exact name of registrant as specified in its charter)

Delaware
  
001-16517
  
06-1599088
(State or other jurisdiction
  
(Commission File Number)
  
(IRS Employer
of incorporation)
      
Identification No.)

One American Row, Hartford, CT
  
06102-5056
(Address of Principal Executive Offices)
  
(Zip Code)

Registrant’s telephone number, including area code: (860) 403-5000

NOT APPLICABLE
(Former name or former address, if changed since last report)
—————————
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
 
¨
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
¨
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
¨
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
¨
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 
 
 
 
ITEM 2.02  RESULTS OF OPERATIONS AND FINANCIAL CONDITION.

 
 
ITEM 9.01  FINANCIAL STATEMENTS AND EXHIBITS.

(a)
Not applicable
 
(b)
Not applicable
 
(c)
Not applicable
 
(d)
Not applicable

The following exhibit is furnished herewith:

 
The Phoenix Companies, Inc. Financial Supplement for the year ended December 31, 2014.
 
 
2
 
 
SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
 
THE PHOENIX COMPANIES, INC.
  
       
Date: March 31, 2015
By:
/s/ Ernest M. McNeill, Jr.
  
   
Ernest M. McNeill, Jr.
  
   
Senior Vice President and
  
   
  Chief Accounting Officer
  
 
 
 
 
 
 
 
 
 
3
 
 EX-99.1 2 pnx_ex991.htm THE PHOENIX COMPANIES, INC. FINANCIAL SUPPLEMENT FOR THE YEAR ENDED DECEMBER 31, 2014 pnx_ex991.htm
Exhibit 99.1
 
 
 
 
 
 
The Phoenix Companies, Inc.
      
Financial Supplement
          
           
Wall Street Coverage
          
Firm
  
Analyst
    
For More Information
           
JP Morgan
  
Jimmy Bhullar
     To receive additional information, including financial supplements and Securities and Exchange Commission filings along with access to other shareholder services, visit the Investor Relations Section on our Web site at Phoenixwm.com or contact our Investor Relations Department at:
         
Transfer Agent and Registrar    
For information or assistance regarding your account, please contact our transfer agent and registrar:    
The Phoenix Companies, Inc. C/O Computershare
      
P.O. Box 30170, College Station, TX 77842-3170
    
The Phoenix Companies, Inc.
     
Investor Relations
Shareholder Information
    
One American Row
Security Listings    
P.O. Box 5056, Hartford, CT  06102-5056
The common stock of The Phoenix Companies, Inc. is traded on the New York Stock Exchange (NYSE) under the symbol "PNX." Our 7.45 percent bond is traded on the NYSE under the symbol "PFX."
    
Phone: 1-860-403-7100
   
Fax: 1-860-403-7880
   
e-mail: pnx.ir@phoenixwm.com
           
           
           
           
           
 
           
 
For more information on our products and services, call your Phoenix representative or visit our Web site at Phoenixwm.com.
 
In addition to financial measures presented in accordance with Generally Accepted Accounting Principles (“GAAP”), we use non-GAAP financial measures such as stockholder’s equity, excluding other accumulated OCI, and book value per diluted share, excluding other accumulated OCI, both of which eliminate the effect of items that can fluctuate significantly from period to period, primarily based on changes in interest rates. Stockholder’s equity and book value per diluted share are the most directly comparable GAAP measures. A reconciliation of stockholder’s equity to stockholder’s equity, excluding other accumulated OCI, and book value per diluted share to book value per diluted share, excluding other accumulated OCI, for the periods presented herein is set forth on page 1. Therefore, investors should evaluate both GAAP and non-GAAP financial measures when reviewing our performance. Investors should note that our calculation of these measures may differ from similar measures used by other companies. Management believes that these measures provide investors with additional insight into the underlying trends in our operations.
 
 
 
 
 
The Phoenix Companies, Inc.
Financial Supplement
December 2014 (unaudited)
 
Table of Contents
     
     
Financial Highlights
1
Consolidated Statements of Income - GAAP
2
Consolidated Statements of Income excluding Closed Block - GAAP
4
Consolidated Balance Sheets
6
Closed Block Assets and Liabilities
7
Variable Universal Life Funds Under Management (FUM)
8
Universal Life Funds Under Management
10
Life Sales
12
Annuity Funds Under Management
14
Fixed Indexed Annuity Funds Under Management
16
Deferred Policy Acquisition Costs
18
General Account Investment Portfolio Summary
19
General Account GAAP Net Investment Income Yields
20
Net Realized Investment Gains (Losses)
21
 
 
 
 
 
 
The Phoenix Companies, Inc.
                        
Financial Highlights
                        
Fourth Quarter 2014 (unaudited)
                        
(amount in millions, except per share data)
                        
                           
For the Period Ended:
  
December 31,
  
     
2014
    
2013
    
2012
    
2011
  
                           
Balance Sheet Information
                        
General account invested assets
   $ 16,750.1     $ 16,083.1     $ 16,228.7     $ 15,294.7  
Separate account assets
     3,020.7       3,402.3       3,316.5       3,816.9  
Total assets
     21,745.9       21,641.1       21,634.9       21,491.9  
Indebtedness
     378.9       378.8       378.8       426.9  
Total stockholders' equity attributable to The Phoenix Companies, Inc.
     326.6       589.5       504.7       688.6  
Accumulated OCI     (234.4 )      (185.0 )      (243.8 )      (226.4 ) 
Total stockholders' equity, excluding other accumulated OCI
   $ 561.0     $ 774.5     $ 748.5     $ 915.4  
Debt to total capitalization  (1)
     40.3 %     32.9 %     33.6 %     31.8 %
Book value per share
   $ 56.82     $ 102.27     $ 87.47     $ 118.42  
Per share impact of other accumulated OCI     40.78       32.10       42.25       39.00  
Book value per share, excluding other accumulated OCI
   $ 97.60     $ 134.37     $ 129.72     $ 157.42  
Period-end common shares outstanding
     5,748       5,764       5,770       5,815  
                                   
                                   
Indebtedness:
                                
Surplus notes
   $ 126.2     $ 126.1     $ 126.1     $ 174.2  
Senior unsecured bonds - due 2032
     252.7       252.7       252.7       252.7  
Total indebtedness
   $ 378.9     $ 378.8     $ 378.8     $ 426.9  
                                   
                                   
Statutory Financial Data for Phoenix Life Insurance Company  (2)
                                
Capital, surplus and surplus notes
   $ 609.2     $ 597.0     $ 793.6     $ 728.8  
Asset valuation reserve (AVR)
     143.0       138.2       128.9       116.9  
Capital, surplus, surplus notes and AVR
   $ 752.2     $ 735.2     $ 922.5     $ 845.7  
Policyholder dividend liability
   $ 174.7     $ 176.6     $ 180.5     $ 223.1  
Interest maintenance reserve
   $ (60.5 )   $ (66.2 )   $ (55.5 )   $ (57.6 )
Statutory gain from operations
   $ 116.2     $ 79.8     $ 160.5     $ 130.5  
Statutory net income (loss)
   $ 132.5     $ (21.0 )   $ 156.2     $ 95.0  
 
(1)
This debt to total capitalization is based on total stockholders' equity, excluding other accumulated OCI.
  
                                   
(2)
Phoenix Life Insurance Company is required to file financial statements with state regulatory authorities prepared on an accounting basis prescribed or permitted by the InsuranceDepartment of the State of New York.
  
 
 
1
 
 
The Phoenix Companies, Inc.
                      
Consolidated Statement of Income - GAAP (1)
                      
Fourth Quarter 2014 (unaudited)
                      
($ in millions, except per share data)
                      
                       
   December 31,  
 
2014
    
2013
    
2012
    
2011
  
                       
REVENUES:
                      
Premiums
 $ 332.1     $ 351.6     $ 402.3     $ 449.4  
Fee income
   545.1       550.3       556.0       596.9  
Net investment income
   830.9       789.7       827.8       824.0  
Net realized investment gains (losses):
                              
  Total other-than-temporary impairment ("OTTI") losses
   (7.7 )     (7.0 )     (50.8 )     (65.8 )
  Portion of OTTI losses recognized in other comprehensive income ("OCI")
   (0.4 )      (4.8 )       22.9       38.5  
  Net OTTI losses recognized in earnings
   (8.1 )     (11.8 )     (27.9 )     (27.3 )
  Net realized investment gains (losses), excluding OTTI losses
   (33.1 )     27.8       11.1       (5.3 )
Net realized investment gains (losses)
   (41.2 )     16.0       (16.8 )     (32.6 )
Gain on debt repurchase
   –       –       11.9       0.2  
Total revenues
   1,666.9       1,707.6       1,781.2       1,837.9  
 
                              
BENEFITS AND EXPENSES:
                              
Policy benefits
   1,119.2       965.1       1,162.4       1,138.8  
Policyholder dividends
   244.8       235.9       292.1       259.4  
Policy acquisition cost amortization
   119.6       103.1       196.1       166.7  
Interest expense on indebtedness
   28.3       28.3       30.8       31.8  
Other operating expenses
   350.2       337.1       253.3       246.6  
Total benefits and expenses
   1,862.1       1,669.5       1,934.7       1,843.3  
Income (loss) from continuing operations before income taxes
   (195.2 )     38.1       (153.5 )     (5.4 )
Income tax expense (benefit)
   10.5       8.5       (4.7 )     12.4  
Income (loss) from continuing operations
   (205.7 )     29.6       (148.8 )     (17.8 )
Income (loss) from discontinued operations, net of income taxes
   (3.5 )     (2.9 )     (15.6 )     (21.6 )
Net income (loss)
   (209.2 )     26.7       (164.4 )     (39.4 )
Less: Net income (loss) attributable to noncontrolling interests
   4.0       0.7       0.6       (0.5 )
Net income (loss) attributable to The Phoenix Companies, Inc.
 $ (213.2 )   $ 26.0     $ (165.0 )   $ (38.9 )
                               
                               
EARNINGS (LOSS) PER SHARE:
                              
Income (loss) from continuing operations – basic
 $ (36.48 )   $ 5.04     $ (25.90 )   $ (2.98 )
Income (loss) from continuing operations – diluted
 $ (36.48 )   $ 5.01     $ (25.90 )   $ (2.98 )
Income (loss) from discontinued operations – basic
 $ (0.61 )   $ (0.51 )   $ (2.70 )   $ (3.71 )
Income (loss) from discontinued operations – diluted
 $ (0.61 )   $ (0.50 )   $ (2.70 )   $ (3.71 )
Net income (loss) attributable to The Phoenix Companies, Inc. – basic
 $ (37.09 )   $ 4.53     $ (28.60 )   $ (6.69 )
Net income (loss) attributable to The Phoenix Companies, Inc. – diluted
 $ (37.09 )   $ 4.51     $ (28.60 )   $ (6.69 )
Basic weighted-average common shares outstanding (in thousands)
   5,748       5,735       5,770       5,815  
Diluted weighted-average common shares outstanding (in thousands)
   5,748       5,764       5,770       5,815  
                               
(1) Certain reclassifications have been made to prior periods to conform with the current presentation.
  
 
 
2
 
 
The Phoenix Companies, Inc.
                                                
Consolidated Statement of Income - GAAP (1)
                                                
Fourth Quarter 2014 (unaudited)
                                                
($ in millions, except per share data)
                                                
                                                 
Quarters Ended
                                                
   
2013
    
2014
  
   
March
    
June
    
September
    
December
    
March
    
June
    
September
    
December
  
REVENUES:
                                                
Premiums
   $ 82.7     $ 87.4     $ 84.5     $ 97.0     $ 79.6     $ 83.2     $ 78.1     $ 91.2  
Fee income
     136.3       132.6       140.4       141.0       134.8       134.2       135.2       140.9  
Net investment income
     190.4       193.9       199.3       206.1       211.5       191.5       204.9       223.0  
Net realized investment gains (losses):
                                                                
  Total other-than-temporary impairment ("OTTI") losses
     (0.5 )     (0.4 )     (1.5 )     (4.6 )     –       (1.0 )     (3.7 )     (3.0 )
  Portion of OTTI losses recognized in other comprehensive income ("OCI")
     (1.7 )     (2.5 )     (0.4 )     (0.2 )     (0.2 )     –       (0.2 )     –  
  Net OTTI losses recognized in earnings
     (2.2 )     (2.9 )     (1.9 )     (4.8 )     (0.2 )     (1.0 )     (3.9 )     (3.0 )
  Net realized investment gains (losses), excluding OTTI losses
     (12.4 )     8.2       7.5       24.5       (26.7 )     5.2       0.1       (11.7 )
Net realized investment gains (losses)
     (14.6 )     5.3       5.6       19.7       (26.9 )     4.2       (3.8 )     (14.7 )
Total revenues
     394.8       419.2       429.8       463.8       399.0       413.1       414.4       440.4  
 
                                                                
BENEFITS AND EXPENSES:
                                                                
Policy benefits
     270.6       272.2       259.6       162.7       230.3       301.3       263.6       324.0  
Policyholder dividends
     49.3       51.4       66.3       68.9       72.2       42.6       57.0       73.0  
Policy acquisition cost amortization
     49.6       27.1       28.6       (2.2 )     24.6       19.1       29.4       46.5  
Interest expense on indebtedness
     7.1       7.1       7.1       7.0       7.1       7.1       7.0       7.1  
Other operating expenses
     83.2       91.3       77.3       85.3       97.2       84.4       77.0       91.6  
Total benefits and expenses
     459.8       449.1       438.9       321.7       431.4       454.5       434.0       542.2  
Income (loss) from continuing operations before income taxes
     (65.0 )     (29.9 )     (9.1 )     142.1       (32.4 )     (41.4 )     (19.6 )     (101.8 )
Income tax expense (benefit)
     4.2       (1.2 )     8.7       (3.2 )     (4.8 )     (19.6 )     2.6       32.3  
Income (loss) from continuing operations
     (69.2 )     (28.7 )     (17.8 )     145.3       (27.6 )     (21.8 )     (22.2 )     (134.1 )
Income (loss) from discontinued operations, net of income taxes
     (1.8 )     (0.2 )     0.3       (1.2 )     (0.6 )     (0.6 )     (0.3 )     (2.0 )
Net income (loss)
     (71.0 )     (28.9 )     (17.5 )     144.1       (28.2 )     (22.4 )     (22.5 )     (136.1 )
Less: Net income (loss) attributable to noncontrolling interests
     (0.1 )     (0.1 )     (0.1 )     1.0       (0.1 )     –       (0.1 )     4.2  
Net income (loss) attributable to The Phoenix Companies, Inc.
   $ (70.9 )   $ (28.8 )   $ (17.4 )   $ 143.1     $ (28.1 )   $ (22.4 )   $ (22.4 )   $ (140.3 )
                                                                 
                                                                 
EARNINGS (LOSS) PER SHARE:
                                                                
Income (loss) from continuing operations – basic
   $ (12.10 )   $ (4.99 )   $ (3.08 )   $ 25.13     $ (4.79 )   $ (3.80 )   $ (3.85 )   $ (24.05 )
Income (loss) from continuing operations – diluted
   $ (12.10 )   $ (4.99 )   $ (3.08 )   $ 25.05     $ (4.79 )   $ (3.80 )   $ (3.85 )   $ (24.05 )
Income (loss) from discontinued operations – basic
   $ (0.31 )   $ (0.03 )   $ 0.05     $ (0.21 )   $ (0.10 )   $ (0.10 )   $ (0.05 )   $ (0.35 )
Income (loss) from discontinued operations – diluted
   $ (0.31 )   $ (0.03 )   $ 0.05     $ (0.21 )   $ (0.10 )   $ (0.10 )   $ (0.05 )   $ (0.35 )
Net income (loss) attributable to The Phoenix Companies, Inc. – basic
   $ (12.41 )   $ (5.02 )   $ (3.03 )   $ 24.92     $ (4.89 )   $ (3.90 )   $ (3.90 )   $ (24.40 )
Net income (loss) attributable to The Phoenix Companies, Inc. – diluted
   $ (12.41 )   $ (5.02 )   $ (3.03 )   $ 24.84     $ (4.89 )   $ (3.90 )   $ (3.90 )   $ (24.40 )
Basic weighted-average common shares outstanding (in thousands)
     5,715       5,742       5,742       5,742       5,742       5,749       5,750       5,750  
Diluted weighted-average common shares outstanding (in thousands)
     5,715       5,742       5,742       5,761       5,742       5,749       5,750       5,750  
                                                                 
(1) Certain reclassifications have been made to prior periods to conform with the current presentation.
 
 
3
 
 
The Phoenix Companies, Inc.
                      
Consolidated Statement of Income excluding Closed Block - GAAP
                      
Fourth Quarter 2014 (unaudited)
                      
($ in millions)
                      
                       
    December 31,  
 
2014
    
2013
    
2012
    
2011
  
REVENUES:
                      
Premiums
 $ 30.3     $ 33.8     $ 32.8     $ 35.7  
Fee income
   545.1       550.3       556.0       596.9  
Net investment income
   419.8       380.1       374.5       358.5  
Net realized investment gains (losses)
   (54.0 )     (0.6 )     (26.0 )     (28.3 )
Gain on debt repurchase
   –       –       11.9       –  
Total revenues
   941.2       963.6       949.2       962.8  
                               
BENEFITS AND EXPENSES:
                              
Policy benefits
   680.8       500.6       668.6       573.9  
Policyholder dividends
   0.2       0.2       0.3       0.7  
Policy acquisition cost amortization
   119.6       103.1       196.1       166.7  
Interest expense on indebtedness
   28.3       28.3       30.8       31.8  
Other operating expenses
   347.5       331.8       250.3       242.9  
Total benefits and expenses
   1,176.4       964.0       1,146.1       1,016.0  
Income (loss) from continuing operations before income taxes, excl. regulatory closed block (1)
   (235.2 )     (0.4 )     (196.9 )     (53.2 )
Income (loss) from continuing operations before income taxes - regulatory closed block (2)
   40.0       38.5       43.4       47.8  
Income (loss) from continuing operations before income taxes
 $ (195.2 )   $ 38.1     $ (153.5 )   $ (5.4 )
                               
(1) Includes income attributable to noncontrolling interests of $2.0 million, $0.4 million, $0.1 million and $0.0 for the years ended 2014, 2013, 2012 and 2011, respectively.
  
(2) Includes income attributable to noncontrolling interests of $2.0 million, $0.3 million, $0.5 million and $(0.5) million for the years ended 2014, 2013, 2012 and 2011, respectively.
  
 
 
4
 
 
The Phoenix Companies, Inc.
                                                
Consolidated Statement of Income excluding Closed Block - GAAP
                                                
Fourth Quarter 2014 (unaudited)
                                                
($ in millions)
                                                
                                                 
Quarters ended
                                                
   
2013
    
2014
  
   
March
    
June
    
September
    
December
    
March
    
June
    
September
    
December
  
REVENUES:
                                                
Premiums
   $ 7.2     $ 8.7     $ 8.2     $ 9.7     $ 6.8     $ 7.4     $ 7.0     $ 9.1  
Fee income
     136.3       132.6       140.4       141.0       134.8       134.2       135.2       140.9  
Net investment income
     92.6       92.9       95.2       99.4       104.2       97.8       102.0       115.8  
Net realized investment gains (losses)
     (18.1 )     7.0       (2.4 )     12.9       (32.2 )     (0.9 )     (4.8 )     (16.1 )
Total revenues
     218.0       241.2       241.4       263.0       213.6       238.5       239.4       249.7  
                                                                 
BENEFITS AND EXPENSES:
                                                                
Policy benefits
     154.1       156.4       148.5       41.6       126.5       179.2       156.6       218.5  
Policyholder dividends
     –       0.1       0.1       –       0.1       0.1       –       –  
Policy acquisition cost amortization
     49.6       27.1       28.6       (2.2 )     24.6       19.1       29.4       46.5  
Interest expense on indebtedness
     7.1       7.1       7.1       7.0       7.1       7.1       7.0       7.1  
Other operating expenses
     81.7       89.9       75.7       84.5       96.8       83.8       75.5       91.4  
Total benefits and expenses
     292.5       280.6       260.0       130.9       255.1       289.3       268.5       363.5  
Income (loss) from continuing operations before income taxes, excl. regulatory closed block (1)
     (74.5 )     (39.4 )     (18.6 )     132.1       (41.5 )     (50.8 )     (29.1 )     (113.8 )
Income (loss) from continuing operations before income taxes - regulatory closed block (2)     9.5       9.5       9.5       10.0       9.1       9.4       9.5       12.0  
Income (loss) from continuing operations before income taxes
   $ (65.0 )   $ (29.9 )   $ (9.1 )   $ 142.1     $ (32.4 )   $ (41.4 )   $ (19.6 )   $ (101.8 )
 
(1) Includes income attributable to noncontrolling interests of $(0.1) million, $(0.1 million), $(0.1) million and $0.5 million for the quarters ended March 31, 2013, June 30, 2013, September 30, 2013 and December 31, 2013, respectively. Includes income attributable to noncontrolling interest of $(0.1) million, $0.0 million, $(0.1) million and $2.2 million for the quarters ended March 31, 2014, June 30, 2014, September 30, 2014 and December 31, 2014, respectively.
 
(2) Includes income attributable to noncontrolling interests of $0.0 million, $0.0 million, $0.0 million and $0.5 million for the quarters ended March 31, 2013, June 30, 2013, September 30, 2013 and December 31, 2013, respectively. Includes income attributable to noncontrolling interest of $0.0 million, $0.0 million, $0.0 million and $2.0 million for the quarters ended March 31, 2014, June 30, 2014, September 30, 2014 and December 31, 2014, respectively.
 
 
5
 
 
The Phoenix Companies, Inc.
                        
Consolidated Balance Sheets
                        
Fourth Quarter 2014 (unaudited)
                        
($ in millions)
                        
                         
    December 31,  
     2014      2013      2012      2011  
ASSETS:
                                
Available-for-sale debt securities, at fair value
   $ 12,679.3     $ 11,731.5     $ 11,902.7     $ 11,475.6  
Available-for-sale equity securities, at fair value
     179.5       138.0       88.8       90.2  
Short-term investments
     149.7       361.6       699.6       268.2  
Limited partnerships and other investments
     542.8       561.3       577.6       565.9  
Policy loans, at unpaid principal balances
     2,352.1       2,350.3       2,354.7       2,379.3  
Derivative instruments
     161.3       228.8       157.4       163.3  
Fair value investments
     235.4       215.2       201.5       184.0  
Total investments
     16,300.1       15,586.7       15,982.3       15,126.5  
Cash and cash equivalents
     450.0       496.4       246.4       168.2  
Accrued investment income
     176.7       170.4       170.3       175.6  
Reinsurance recoverable
     559.1       598.1       591.3       568.5  
Deferred policy acquisition costs
     848.6       947.8       898.1       1,114.8  
Deferred income taxes, net
     34.2       70.0       39.5       115.3  
Other assets
     311.3       320.5       332.0       316.0  
Discontinued operations assets
     45.2       48.9       58.5       90.1  
Separate account assets
     3,020.7       3,402.3       3,316.5       3,816.9  
Total assets
   $ 21,745.9     $ 21,641.1     $ 21,634.9     $ 21,491.9  
                                 
LIABILITIES:
                                
Policy liabilities and accruals
   $ 12,417.6     $ 12,416.6     $ 12,695.1     $ 12,670.8  
Policyholder deposit funds
     3,955.0       3,442.6       3,055.2       2,439.9  
Dividend obligations
     916.8       705.7       956.8       713.8  
Indebtedness
     378.9       378.8       378.8       426.9  
Pension and post-employment liabilities
     380.0       313.1       428.1       428.6  
Other liabilities
     289.8       337.3       239.9       224.5  
Discontinued operations liabilities
     40.5       43.4       53.1       79.1  
Separate account liabilities
     3,020.7       3,402.3       3,316.5       3,816.9  
Total liabilities
     21,399.3       21,039.8       21,123.5       20,800.5  
                                 
STOCKHOLDERS' EQUITY:
                                
Common stock, $.01 par value: 5.8 million and 5.7 million shares outstanding
     0.1       0.1       0.1       1.3  
Additional paid-in capital
     2,632.8       2,633.1       2,633.0       2,630.5  
Accumulated other comprehensive income (loss)
     (234.4 )     (185.0 )     (243.9 )     (226.8 )
Retained earnings (accumulated deficit)
     (1,889.0 )     (1,675.8 )     (1,701.6 )     (1,536.8 )
Treasury stock, at cost: 0.7 million and 0.7 million shares
     (182.9 )     (182.9 )     (182.9 )     (179.5 )
Total The Phoenix Companies, Inc. stockholders' equity
     326.6       589.5       504.7       688.7  
Noncontrolling interests
     20.0       11.8       6.7       2.7  
Total stockholders' equity
     346.6       601.3       511.4       691.4  
Total liabilities and stockholders' equity
   $ 21,745.9     $ 21,641.1     $ 21,634.9     $ 21,491.9  
 
 
 
6
 
 
The Phoenix Companies, Inc.
            
Closed Block Assets and Liabilities
            
Fourth Quarter 2014 (unaudited)
            
($ in millions)
            
             
   
December 31,
  
   
2014
    
2013
  
             
Available-for-sale debt securities
   $ 5,877.0     $ 5,753.4  
Available-for-sale equity securities
     91.7       76.5  
Short-term investments
     –       106.9  
Limited partnerships and other investments
     343.4       345.0  
Policy loans
     1,159.1       1,201.6  
Fair value investments
     59.8       42.5  
Total closed block investments
     7,531.0       7,525.9  
Cash and cash equivalents
     89.6       78.2  
Accrued investment income
     80.7       81.7  
Reinsurance recoverable
     19.1       26.8  
Deferred income taxes, net
     290.3       285.4  
Other closed block assets
     67.4       58.2  
Total closed block assets
     8,078.1       8,056.2  
Policy liabilities and accruals
     8,058.2       8,258.4  
Policyholder dividends payable
     201.9       207.8  
Policy dividend obligation
     714.8       497.7  
Other closed block liabilities
     48.0       65.9  
Total closed block liabilities
     9,022.9       9,029.8  
Excess of closed block liabilities over closed block assets
     944.8       973.6  
Less: Excess of closed block assets over closed block liabilities
                
  attributable to noncontrolling interests
     (11.8 )     (8.0 )
Excess of closed block liabilities over closed block assets
                
  attributable to The Phoenix Companies, Inc.
   $ 956.6     $ 981.6  
 
 
 
7
 
 
The Phoenix Companies, Inc.
                      
Variable Universal Life
                      
Funds Under Management
                      
Fourth Quarter 2014 (unaudited)
                      
($ in millions)
                      
                       
  December 31,  
 
2014
    
2013
    
2012
    
2011
  
                       
                       
Balance, beginning of period
 $ 1,089.3     $ 1,014.3     $ 1,019.1     $ 1,151.6  
Deposits
   70.1       75.4       82.6       98.3  
Surrenders
   (79.1 )     (102.8 )     (123.4 )     (135.4 )
Net flows
   (9.0 )     (27.4 )     (40.8 )     (37.1 )
Deaths
   (6.9 )     (5.7 )     (5.2 )     (5.6 )
Performance and interest credited
   59.9       182.5       120.2       (6.7 )
Fees
   (8.5 )     (9.1 )     (10.3 )     (11.5 )
Cost of insurance
   (62.2 )     (65.3 )     (68.7 )     (71.6 )
Change in FUM
   (26.7 )     75.0       (4.8 )     (132.5 )
Balance, end of period
 $ 1,062.6     $ 1,089.3     $ 1,014.3     $ 1,019.1  
 
 
8
 
 
The Phoenix Companies, Inc.
                                              
Variable Universal Life
                                              
Funds Under Management
                                              
Fourth Quarter 2014 (unaudited)
                                              
($ in millions)
                                              
                                               
Quarters ended
                                              
 
2013
    
2014
  
 
March
    
June
    
September
    
December
    
March
    
June
    
September
    
December
  
                                               
Balance, beginning of period
 $ 1,014.3     $ 1,044.2     $ 1,016.8     $ 1,052.3     $ 1,089.3     $ 1,080.1     $ 1,092.7     $ 1,056.4  
Deposits
   19.2       18.6       18.3       19.3       17.6       16.1       18.5       17.9  
Surrenders
   (27.0 )     (27.6 )     (24.8 )     (23.4 )     (19.4 )     (20.7 )     (18.6 )     (20.4 )
Net flows
   (7.8 )     (9.0 )     (6.5 )     (4.1 )     (1.8 )     (4.6 )     (0.1 )     (2.5 )
Deaths
   (2.3 )     (1.5 )     (1.1 )     (0.8 )     (2.2 )     (1.2 )     (1.8 )     (1.7 )
Performance and interest credited
   58.3       2.0       62.1       60.1       13.0       36.0       (17.0 )     27.9  
Fees
   (2.3 )     (2.5 )     (2.2 )     (2.1 )     (2.2 )     (2.3 )     (2.0 )     (2.0 )
Cost of insurance
   (16.0 )     (16.4 )     (16.8 )     (16.1 )     (16.0 )     (15.3 )     (15.4 )     (15.5 )
Change in FUM
   29.9       (27.4 )     35.5       37.0       (9.2 )     12.6       (36.3 )     6.2  
Balance, end of period
 $ 1,044.2     $ 1,016.8     $ 1,052.3     $ 1,089.3     $ 1,080.1     $ 1,092.7     $ 1,056.4     $ 1,062.6  
 
 
 
9
 
 
The Phoenix Companies, Inc.
                      
Universal Life
                      
Funds Under Management
                      
Fourth Quarter 2014 (unaudited)
                      
($ in millions)
                      
                       
  December 31,  
 
2014
    
2013
    
2012
    
2011
  
                       
Balance, beginning of period
 $ 1,818.2     $ 1,837.9     $ 1,852.8     $ 1,918.9  
Deposits
   338.7       361.5       384.0       384.5  
Surrenders
   (62.3 )     (64.9 )     (73.2 )     (89.5 )
Net flows
   276.4       296.6       310.8       295.0  
Deaths
   (34.8 )     (35.5 )     (33.6 )     (35.8 )
Interest credited
   71.0       75.2       75.1       79.2  
Fees
   (21.1 )     (22.4 )     (23.5 )     (23.8 )
Cost of insurance
   (327.8 )     (333.6 )     (343.7 )     (380.7 )
Change in FUM
   (36.3 )     (19.7 )     (14.9 )     (66.1 )
Balance, end of period
 $ 1,781.9     $ 1,818.2     $ 1,837.9     $ 1,852.8  
 
 
10
 
 
The Phoenix Companies, Inc.
                                              
Universal Life
                                              
Funds Under Management
                                              
Fourth Quarter 2014 (unaudited)
                                              
($ in millions)
                                              
                                               
Quarters ended
                                              
 
2013
    
2014
  
 
March
    
June
    
September
    
December
    
March
    
June
    
September
    
December
  
                                               
Balance, beginning of period
 $ 1,837.9     $ 1,846.5     $ 1,842.1     $ 1,828.1     $ 1,818.2     $ 1,809.0     $ 1,797.2     $ 1,787.1  
Deposits
   107.0       81.3       81.7       91.5       87.5       77.3       79.6       94.3  
Surrenders
   (19.0 )     (12.5 )     (11.5 )     (21.9 )     (18.1 )     (13.2 )     (11.3 )     (19.7 )
Net flows
   88.0       68.8       70.2       69.6       69.4       64.1       68.3       74.6  
Deaths
   (9.4 )     (6.1 )     (12.1 )     (7.9 )     (7.9 )     (7.8 )     (10.2 )     (8.9 )
Interest credited
   18.6       19.0       18.7       18.9       16.5       18.2       17.9       18.4  
Fees
   (6.4 )     (5.1 )     (5.3 )     (5.6 )     (5.4 )     (4.8 )     (5.2 )     (5.7 )
Cost of insurance
   (82.2 )     (81.0 )     (85.5 )     (84.9 )     (81.8 )     (81.5 )     (80.9 )     (83.6 )
Change in FUM
   8.6       (4.4 )     (14.0 )     (9.9 )     (9.2 )     (11.8 )     (10.1 )     (5.2 )
Balance, end of period
 $ 1,846.5     $ 1,842.1     $ 1,828.1     $ 1,818.2     $ 1,809.0     $ 1,797.2     $ 1,787.1     $ 1,781.9  
 
 
 
11
 
 
The Phoenix Companies, Inc.
                        
Life Sales
                        
Fourth Quarter 2014 (unaudited)
                        
($ in millions)
                        
                         
    December 31,  
   
2014
    
2013
    
2012
    
2011
  
Life Insurance Sales
                        
                         
Wholesaler Channel
                        
Variable universal life
   $ –     $ –     $ 0.1     $ 0.1  
Universal life/interest sensitive
     1.6       2.0       2.2       2.1  
Whole life
     1.6       0.4       0.6       –  
Term life
     1.6       –       –       –  
Life insurance annualized premium (1)
     4.8       2.4       2.9       2.2  
                                 
Variable universal life
     –       –       –       –  
Universal life/interest sensitive
     0.1       0.1       0.2       0.7  
Whole life
     –       2.1       5.2       1.6  
Life insurance single premium
     0.1       2.2       5.4       2.3  
                                 
Variable universal life
     –       –       0.1       0.1  
Universal life/interest sensitive
     1.7       2.1       2.4       2.8  
Whole life
     1.6       2.5       5.8       1.6  
Term life
     1.6       –       –       –  
Total wholesaler life insurance premium (2)
   $ 4.9     $ 4.6     $ 8.3     $ 4.5  
                                 
(1) Annualized premium represents second year premiums on an annual basis.
  
(2)  Total premium represents annualized and single premiums.
                                
 
 
 
12
 
 
The Phoenix Companies, Inc.
                                                
Life Sales
                                                
Fourth Quarter 2014 (unaudited)
                                                
($ in millions)
                                                
                                                 
Quarters ended
                                                
   
2013
    
2014
  
   
March
    
June
    
September
    
December
    
March
    
June
  
September
    
December
  
Life Insurance Sales
                                                
                                                 
Wholesaler Channel
                                                
Variable universal life
   $ –     $ –     $ –     $ –     $ –     $ –     $ –     $ –  
Universal life/interest sensitive
     0.3       0.7       0.6       0.4       0.2       0.3       0.4       0.7  
Whole life
     0.2       0.2       –       –       0.3       0.4       0.3       0.6  
Term life
     –       –       –       –       –       –       0.4       1.2  
 Life insurance annualized premium (1)
     0.5       0.9       0.6       0.4       0.5       0.7       1.1       2.5  
                                                                 
Variable universal life
     –       –       –       –       –       –       –       –  
Universal life/interest sensitive
     –       –       0.1       –       –       0.1       –       –  
Whole life
     1.0       1.1       –       –       –       –       –       –  
Life insurance single premium
     1.0       1.1       0.1       –       –       0.1       –       –  
                                                                 
Variable universal life
     –       –       –       –       –       –       –       –  
Universal life/interest sensitive
     0.3       0.6       0.7       0.5       0.2       0.4       0.4       0.7  
Whole life
     1.1       1.4       –       –       0.3       0.4       0.3       0.6  
Term life
     –       –       –       –       –       –       0.4       1.2  
Total wholesaler life insurance premium (2)
   $ 1.4     $ 2.0     $ 0.7     $ 0.5     $ 0.5     $ 0.8     $ 1.1     $ 2.5  
                                                                 
(1) Annualized premium represents second year premiums on an annual basis.
                                          
                                                                 
(2) Total premium represents annualized and single premiums.
                                                  
 
 
 
13
 
 
The Phoenix Companies, Inc.
                        
Annuity
                        
Funds Under Management
                        
Fourth Quarter 2014 (unaudited)
                        
($ in millions)
                        
    December 31,  
   
2014
    
2013
    
2012
    
2011
  
                         
Balance, beginning of period
   $ 5,502.4     $ 5,042.1     $ 4,495.4     $ 4,083.3  
Deposits
     770.9       682.9       824.2       951.5  
Surrenders
     (658.4 )     (597.8 )     (529.9 )     (485.1 )
Net flows
     112.5       85.1       294.3       466.4  
Deaths
     (81.8 )     (79.7 )     (73.3 )     (62.7 )
Performance and interest credited
     196.2       514.9       370.3       15.1  
Bonus
     17.3       10.5       16.1       48.4  
Fees
     (72.1 )     (70.5 )     (60.7 )     (55.1 )
Change in FUM
     172.1       460.3       546.7       412.1  
Balance, end of period
   $ 5,674.5     $ 5,502.4     $ 5,042.1     $ 4,495.4  
 
 
 
14
 
 
The Phoenix Companies, Inc.
                                                
Annuity
                                                
Funds Under Management
                                                
Fourth Quarter 2014 (unaudited)
                                                
($ in millions)
                                                
                                                 
Quarters ended
                                                
    2013     2014  
   
March
    
June
    
September
    
December
    
March
    
June
    
September
    
December
  
                                                 
Balance, beginning of period
   $ 5,042.1     $ 5,215.4     $ 5,216.6     $ 5,364.3     $ 5,502.4     $ 5,525.2     $ 5,623.0     $ 5,631.5  
Deposits
     173.7       174.0       166.5       168.7       170.4       201.0       221.7       177.8  
Surrenders
     (133.7 )     (151.9 )     (152.8 )     (159.4 )     (172.7 )     (170.4 )     (157.1 )     (158.2 )
Net flows
     40.0       22.1       13.7       9.3       (2.3 )     30.6       64.6       19.6  
Deaths
     (17.6 )     (21.9 )     (21.0 )     (19.2 )     (18.7 )     (18.2 )     (21.4 )     (23.5 )
Performance and interest credited
     164.7       14.8       170.9       164.5       60.0       97.7       (22.1 )     60.6  
Bonus
     2.7       2.8       2.7       2.3       2.1       5.4       5.2       4.6  
Fees
     (16.5 )     (16.6 )     (18.6 )     (18.8 )     (18.3 )     (17.7 )     (17.8 )     (18.3 )
Change in FUM
     173.3       1.2       147.7       138.1       22.8       97.8       8.5       43.0  
Balance, end of period
   $ 5,215.4     $ 5,216.6     $ 5,364.3     $ 5,502.4     $ 5,525.2     $ 5,623.0     $ 5,631.5     $ 5,674.5  
 
 
 
15
 
 
The Phoenix Companies, Inc.
                        
Fixed Indexed Annuity
                        
Funds Under Management
                        
Fourth Quarter 2014 (unaudited)
                        
($ in millions)
                        
                           
      December 31,    
     
2014
    
2013
    
2012
    
2011
  
                           
Balance, begining of period
   $ 2,259.9     $ 1,800.5     $ 1,139.4     $ 226.0  
Deposits
     713.7       602.2       741.2       890.8  
Surrenders
     (160.7 )     (135.2 )     (75.5 )     (24.6 )
Net flows
     553.0       467.0       665.7       866.2  
Deaths
     (41.9 )     (30.9 )     (24.3 )     (5.7 )
Interest credited
     58.9       41.8       19.3       6.3  
Bonus
     13.6       6.0       13.2       48.4  
Fees
     (30.3 )     (24.5 )     (12.8 )     (1.8 )
Change in FUM
     553.3       459.4       661.1       913.4  
Balance, end of period
   $ 2,813.2     $ 2,259.9     $ 1,800.5     $ 1,139.4  
 
 
 
16
 
 
The Phoenix Companies, Inc.
                                              
Fixed Indexed Annuity
                                              
Funds Under Management
                                              
Fourth Quarter 2014 (unaudited)
                                              
($ in millions)
                                              
                                               
    2013  
2014
  
 
March
    
June
    
September
    
December
    
March
    
June
    
September
    
December
  
                                               
Balance, beginning of period
 $ 1,800.5     $ 1,921.6     $ 2,037.1     $ 2,143.6     $ 2,259.9     $ 2,376.3     $ 2,518.4     $ 2,694.7  
Deposits
   152.2       151.3       148.7       150.0       154.6       186.9       208.3       163.9  
Surrenders
   (27.7 )     (35.6 )     (39.6 )     (35.9 )     (37.2 )     (43.4 )     (37.5 )     (42.6 )
Net flows
   124.5       115.7       109.1       114.1       117.4       143.5       170.8       121.3  
Deaths
   (7.3 )     (6.6 )     (9.8 )     (7.2 )     (8.9 )     (9.4 )     (10.9 )     (12.7 )
Interest credited
   6.5       9.1       11.6       14.6       13.8       11.0       19.8       14.3  
Bonus
   2.7       2.8       2.7       1.4       1.1       4.4       4.3       3.8  
Fees
   (5.0 )     (5.5 )     (7.1 )     (6.9 )     (7.0 )     (7.4 )     (7.7 )     (8.2 )
Change in FUM
   121.4       115.5       106.5       116.0       116.4       142.1       176.3       118.5  
Balance, end of period
 $ 1,921.9     $ 2,037.1     $ 2,143.6     $ 2,259.9     $ 2,376.3     $ 2,518.4     $ 2,694.7     $ 2,813.2  
 
 
 
17
 
 
The Phoenix Companies, Inc.
                  
Deferred Policy Acquisition Costs
                  
Fourth Quarter 2014 (unaudited)
                  
($ in millions)
                  
                   
    December 31,  
   
2014
    
2013
    
2012
  
Composition of Deferred Policy Acquisition Costs by Product:
                  
Variable universal life
   $ 120.3     $ 129.3     $ 140.8  
Universal life
     129.0       214.9       199.7  
Variable annuities
     62.4       84.1       92.2  
Fixed annuities
     220.9       194.3       133.7  
Traditional life
     316.0       325.2       331.7  
Total deferred policy acquisition costs
   $ 848.6     $ 947.8     $ 898.1  
                         
                         
Deferred Policy Acquisition Costs:
                        
Balance, beginning of period
   $ 947.8     $ 898.1     $ 1,114.8  
Policy acquisition costs deferred
     72.9       58.4       58.1  
Costs amortized to expenses:
                        
     Recurring costs
     (129.5 )     (117.9 )     (141.3 )
     Assumption unlocking
     (4.4 )     25.4       (55.6 )
     Realized investment gains (losses)
     14.3       (10.6 )     0.8  
Offsets to net unrealized investment gains or losses
                        
     included in AOCI (1)
     (52.5 )     94.4       (78.7 )
Change in deferred policy acquisition costs
     (99.2 )     49.7       (216.7 )
Balance, end of period
   $ 848.6     $ 947.8     $ 898.1  
                         
(1) An offset to deferred policy acquisition costs and AOCI is recorded each period to the extent that, had unrealized holding gains or losses from securities classified as available-for-sale actually been realized, an adjustment to deferred policy acquisition costs amortized using gross profits or gross margins would result.
 
 
 
18
 
 
The Phoenix Companies, Inc.
                
General Account Investment Portfolio Summary (1)
                
Fourth Quarter 2014 (unaudited)
                
($ in millions)
                
                 
                 
Available-for-Sale Debt Securities Ratings by Percentage:
                
    December 31, 2014        
 
Fair Value
    
Amortized Cost
        
                 
AAA/AA/A
 $ 7,237.0     $ 6,777.6        
BBB
   4,593.5       4,359.4        
Total investment grade
   11,830.5       11,137.0        
BB
   538.3       528.8        
B   254.2       256.6        
CCC and lower
   37.5       39.4        
In or near default
   18.8       16.2        
Total available-for-sale debt securities
 $ 12,679.3     $ 11,978.0        
                       
% Below Investment Grade
   93.3 %     93.0 %      
                       
                       
Unrealized Gains and Losses on Debt and Equity Securities
                    
Year ended December 31, 2014
                    
   
Total
    
Outside Closed Block
    
Closed Block
  
                       
Sources of Changes in Net Unrealized Investment Gains
                    
                       
Debt securities
 $ 311.3     $ 173.7     $ 137.6  
Equity securities
   4.8       1.0       3.8  
Other investments
   (4.1 )     (1.5 )     (2.6 )
Net unrealized investment gains (losses)
 $ 312.0       173.2       138.8  
                         
Net unrealized investment gains (losses)
 $ 312.0     $ 173.2     $ 138.8  
Applicable to closed block policyholder dividend obligation
   138.8       –       138.8  
Applicable to deferred policy acquisition cost
   52.5       52.5       –  
Applicable to other actuarial offsets
   54.2       54.2       –  
Applicable to deferred income tax expense (benefit)
   35.7       35.7       –  
Offsets to net unrealized investment gains (losses)
   281.2       142.4       138.8  
Net unrealized investment gains (losses) included in OCI
 $ 30.8     $ 30.8     $ 0.0  
 
 
 
19
 
 
The Phoenix Companies, Inc.
                  
General Account GAAP Net Investment Income Yields  (1)
                  
Fourth Quarter 2014 (unaudited)
                  
($ in millions)
                  
                   
                   
    December 31,  
    2014     2013     2012  
Sources of Net Investment Income:
                  
Debt securities(1)
   $ 581.6     $ 565.0     $ 604.8  
Equity securities
     9.2       7.2       4.3  
Limited partnerships and other investments
     65.3       58.3       63.7  
Policy loans
     167.4       160.0       161.5  
Fair value investments
     25.4       14.1       9.4  
Total investment income
     848.9       804.6       843.7  
  Less: Discontinued operations
     1.1       1.3       2.1  
  Less: Investment expenses
     16.9       13.6       13.8  
Net investment income
   $ 830.9     $ 789.7     $ 827.8  
Amounts applicable to closed block
   $ 411.1     $ 409.6     $ 453.3  
                         
                         
Annualized Yields:
                        
Debt securities
     4.9 %     4.8 %     5.3 %
Equity securities
     6.7 %     7.5 %     5.6 %
Limited partnerships and other investments
     11.8 %     11.2 %     11.1 %
Policy loans
     7.1 %     6.8 %     6.8 %
Fair value option investments
     20.1 %     10.9 %     7.3 %
Total investment yield
     5.6 %     5.4 %     5.8 %
                         
Investment expenses and discontinued operations
     0.1 %     0.1 %     0.1 %
Total net investment income yields
     5.5 %     5.3 %     5.7 %
                         
(1)  Includes net investment income on short-term investments.
                        
 
 
 
20
 
 
The Phoenix Companies, Inc.
                  
Net Realized Investment Gains (Losses)
                  
Fourth Quarter 2014 (unaudited)
                  
($ in millions)
                  
                   
   
December 31,
  
   
2014
    
2013
    
2012
  
Sources and Types of Net Realized Investment Gains (Losses):
                  
Total other-than-temporary debt impairments
   $ (5.6 )   $ (7.0 )   $ (45.7 )
Portion of gains (losses) recognized in OCI
     (0.4 )     (4.8 )     22.9  
Net debt impairments recognized in earnings
   $ (6.0 )   $ (11.8 )   $ (22.8 )
Debt security impairments:
                        
U.S. government and agency
   $ —     $ —     $ —  
State and political subdivision
     —       —       (0.6 )
Foreign government
     —       —       —  
Corporate
     (6.0 )     (3.8 )     (3.0 )
CMBS
     —       (2.7 )     (4.1 )
RMBS
     —       (4.3 )     (10.3 )
CDO/CLO
     —       (1.0 )     (3.8 )
Other ABS
     —       —       (1.0 )
Net debt security impairments
     (6.0 )     (11.8 )     (22.8 )
Equity security impairments
     (2.1 )     —       (4.8 )
Limited partnerships and other investment impairments
     —       —       (0.3 )
Impairment losses
     (8.1 )     (11.8 )     (27.9 )
Debt security transaction gains
     41.8       45.3       46.4  
Debt security transaction losses
     (17.7 )     (2.2 )     (11.1 )
Equity security transaction gains
     10.4       4.2       14.4  
Equity security transaction losses
     (1.0 )     (3.8 )     (0.4 )
Limited partnerships and other investment transaction gains
     —       0.8       7.7  
Limited partnerships and other investment transaction losses
     (0.7 )     (4.6 )     (2.5 )
Net transaction gains (losses)
     32.8       39.7       54.5  
Derivative instruments
     (20.8 )     (27.7 )     (50.4 )
Embedded derivatives (1)
     (45.9 )     12.2       4.9  
Assets valued at fair value
     0.8       3.6       2.1  
Net realized investment gains (losses), excluding impairment losses
     (33.1 )     27.8       11.1  
Net realized investment gains (losses), including impairment losses
   $ (41.2 )   $ 16.0     $ (16.8 )
 
(1) Includes the change in fair value of embedded derivatives associated with fixed index annuity indexed crediting feature and variable annuity riders.
 
21
 
 GRAPHIC 3 img002.jpg begin 644 img002.jpg M_]C_X``02D9)1@`!`0$`K@#```#_XB>P24-#7U!23T9)3$4``0$``">@;&EN M;P(@``!M;G1R4D="(%A96B`'WP`#`!<`#@`H`"%A8W-P35-&5``````````` M````````````````````````]M8``0````#3+4U31E0````````````````` M``````````````````````````````````````````````ID97-C````_``` M`5QC<')T```"6````#%W='!T```"C````!1R6%E:```"H````!1G6%E:```" MM````!1B6%E:```"R````!1R5%)#```"W````@QG5%)#```$Z````@QB5%)# M```&]````@Q-4S`P```)````'IYD97-C`````````%AS4D="(&1I```N-,``!:"6%E:(````````"/D```. M:@``N39C=7)V`````````0`````4`"@`/`!0`&,`=P"+`)\`LP#'`.P!`@$: M`3,!30%I`88!I`'#`>0"!@(I`DX"=`*<`L4"[P,;`T@#=P.G`]D$#`1!!'@$ MKP3I!20%806?!=\&(`9C!J@&[@<29!+B$V,3YA1K%/$5 M>A8%%I(7(!>Q&$08V1EP&@D:I!M"&^$<@ATF']*(0I3"H7*N0KM"R%+5DN+R\(+^(PP#&?,H$S931+-3,V M'C<,-_PX[CGB.MD[TCS./%Z^8`=A4F*@8_!E0V:99_%I M3&JJ;`IM;6[2<#IQI7,2=()U]7=J>.-Z77O;?5M^WH!C@>N#=H4$AI6(*(F^ MBU:,\HZ0D#&1U)-[E226T)A_FC";Y9VVKNZV+KU^Q M-;,.M.JVR;BKNH^\=[YAP$_"/\0RQBC((E!ZVSMF^_,\@#T./9R^*_Z\/TS_WG__V-U`2O!.D%)`5A!9\%WP8@!F,& MJ`;N!S8'@`?+"!@(9PBX"0H)7@FT"@L*90K`"QT+>PO<##X,H@T(#7`-V@Y& M#K,/(@^4$`<0?!#S$6P1YQ)D$N(38Q/F%&L4\15Z%@46DA<@%[$81!C9&7`: M"1JD&T(;X1R"'28=RQYS'QT?R2!W(2@AVB*/(T8C_R2Z)7@F-R;Y)[THA"E, M*A-PPW_#CN.>(ZV3O2/,X] MRS[,/\]`U$';0N5#\D4!1A)')D@\255*<$N.3*Y-T4[V4!U11U)T4Z-4U58) M5T!8>5FU6O1<-%UX7KY@!V%28J!C\&5#9IEG\6E,:JIL"FUM;M)P.G&E]M]6W[>@&.!ZX-VA02&E8@HB;Z+5HSRCI"0,9'4DWN5));0 MF'^:,)OEG9R?5J$3HM*DE:9:J"*I[:N[K8NO7[$ULPZTZK;)N*NZC[QWOF'` M3\(_Q#+&*,@ARAW,',X>T"+2*M0UUD+84]IFW'S>EN"RXM'D].<9Z4'K;.V; M[\SR`/0X]G+XK_KP_3/_>?__8W5R=@````````$`````%``H`#P`4`!C`'<` MBP"?`+,`QP#L`0(!&@$S`4T!:0&&`:0!PP'D`@8"*0).`G0"G`+%`N\#&P-( M`W<#IP/9!`P$001X!*\$Z04D!6$%GP7?!B`&8P:H!NX'-@>`!\L(&`AG"+@) M"@E>";0*"PIE"L`+'0M["]P,/@RB#0@-<`W:#D8.LP\B#Y00!Q!\$/,1;!'G M$F02XA-C$^84:Q3Q%7H6!1:2%R`7L1A$&-D9"8W)ODGO2B$*4PJ%RKD*[0LA2U9+B\O""_B M,,`QGS*!,V4T2S4S-AXW##?\..XYXCK9.](\SCW+/LP_ST#40=M"Y4/R10%& M$DOF`' M85)BH&/P94-FF6?Q:4QJJFP*;6UNTG`Z<:5S$G2"=?5W:GCC>EU[VWU;?MZ` M8X'K@W:%!(:5B"B)OHM6C/*.D)`QD=23>Y4DEM"8?YHPF^6=G)]6H1.BTJ25 MIEJH(JGMJ[NMBZ]?L36S#K3JMLFXJ[J/O'>^83TYQGI0>ML[9OOS/(`]#CV0`@`'``<@!O`&8`:0!L`&4`/``O`'<`8P!S M`#H`5`!E`'@`=``^``T`"@`)`#P`+P!C`&0`;0`Z`%``<@!O`&8`:0!L`&4` M3@!A`&T`90`^``T`"@`)`#P`8P!D`&T`.@!$`&4``!T`"``>`!M`&P`.@!L`&$` M;@!G`#T`(@!E`&X`+0!5`%,`(@`^`',`4@!'`$(`(`!D`&D``!T`#X`#0`*``D`/``O M`&,`9`!M`#H`1`!E`',`8P!R`&D`<`!T`&D`;P!N`#X`#0`*``D`/`!C`&0` M;0`Z`$$`=0!T`&@`;P!R`#X`#0`*``D`"0`\`'<`8P!S`#H`5`!E`'@`=``@ M`'@`;0!L`#H`;`!A`&X`9P`]`"(`90!N`"T`50!3`"(`/@!-`&D`8P!R`&\` M`!#`&\`;`!O`'(`80!N`'0`50!S`&4`9``^`#$`+@`P`#P`+P!C`&0` M;0`Z`$T`80!X`$,`;P!L`&\`<@!A`&X`=`!5`',`90!D`#X`#0`*``D`"0`) M`#P`8P!D`&T`.@!-`&D`;@!#`&\`;`!O`'(`80!N`'0`50!S`&4`9``^`#`` M+@`P`#P`+P!C`&0`;0`Z`$T`:0!N`$,`;P!L`&\`<@!A`&X`=`!5`',`90!D M`#X`#0`*``D`"0`)`#P`8P!D`&T`.@!7`&@`:0!T`&4`4`!R`&D`;0!A`'(` M>0`@`%@`/0`B`#D`-0`N`#``-0`B`"``60`]`"(`,0`P`#``+@`P`#``(@`@ M`%H`/0`B`#$`,``X`"X`.0`P`"(`+P`^``T`"@`)``D`"0`\`&,`9`!M`#H` M4@!E`&0`4`!R`&D`;0!A`'(`>0`@`%@`/0`B`#0`,0`N`#(`-``B`"``60`] M`"(`,@`Q`"X`,@`V`"(`(`!:`#T`(@`Q`"X`.0`S`"(`+P`^``T`"@`)``D` M"0`\`&,`9`!M`#H`1P!R`&4`90!N`%``<@!I`&T`80!R`'D`(`!8`#T`(@`S M`#4`+@`W`#8`(@`@`%D`/0`B`#<`,0`N`#4`,@`B`"``6@`]`"(`,0`Q`"X` M.0`R`"(`+P`^``T`"@`)``D`"0`\`&,`9`!M`#H`0@!L`'4`90!0`'(`:0!M M`&$`<@!Y`"``6``]`"(`,0`X`"X`,``U`"(`(`!9`#T`(@`W`"X`,@`R`"(` M(`!:`#T`(@`Y`#4`+@`P`#4`(@`O`#X`#0`*``D`"0`)`#P`8P!D`&T`.@!" M`&P`80!C`&L`4`!R`&D`;0!A`'(`>0`@`%@`/0`B`#``(@`@`%D`/0`B`#`` M(@`@`%H`/0`B`#``(@`O`#X`#0`*``D`"0`)`#P`8P!D`&T`.@!'`&$`;0!M M`&$`3P!F`&8`@!E`&0`0P!U`'(`=@!E`',` M/@`-``H`"0`)``D`"0`\`'<`8P!S`#H`4@!E`&0`5`!2`$,`(`!'`&$`;0!M M`&$`/0`B`#$`+@`U`#``,``P`#``,``B`"``1P!A`&D`;@`]`"(`,0`N`#`` M,``P`#``,``P`"(`(`!/`&8`9@!S`&4`=``Q`#T`(@`P`"X`,``B`"\`/@`- M``H`"0`)``D`"0`\`'<`8P!S`#H`1P!R`&4`90!N`%0`4@!#`"``1P!A`&T` M;0!A`#T`(@`Q`"X`-0`P`#``,``P`#``(@`@`$<`80!I`&X`/0`B`#$`+@`P M`#``,``P`#``,``B`"``3P!F`&8`0!P`&4``!M`&P`;@!S`#H`>`!S M`#T`(@!H`'0`=`!P`#H`+P`O`'<`=P!W`"X`=P`S`"X`;P!R`&<`+P`R`#`` M,``Q`"\`6`!-`$P`4P!C`&@`90!M`&$`+0!I`&X``!T`"``>`!M`&P`.@!L`&$`;@!G`#T`(@!E M`&X`+0!5`%,`(@`^`%<`0P!3`"``<`!R`&\`9@!I`&P`90`@`&8`;P!R`"`` M`!M`&P`;@!S`#H`9P!M`&T`/0`B`&@` M=`!T`'``.@`O`"\`0!P`&4``!M`&P`;@!S`#H`>`!S M`#T`(@!H`'0`=`!P`#H`+P`O`'<`=P!W`"X`=P`S`"X`;P!R`&<`+P`R`#`` M,``Q`"\`6`!-`$P`4P!C`&@`90!M`&$`+0!I`&X``!T`"``>`!M`&P`.@!L`&$`;@!G`#T`(@!E M`&X`+0!5`%,`(@`^`%``<@!O`&\`9@!I`&X`9P`@`"T`(`!S`&D`;0!U`&P` M80!T`&4`(`!P`&$`<`!E`'(`+P!M`&4`9`!I`&$`(`!C`&\`;`!O`'(`/``O M`'<`8P!S`#H`5`!E`'@`=``^``T`"@`)`#P`+P!G`&T`;0`Z`%``<@!O`&8` M:0!L`&4`3@!A`&T`90`^``T`"@`)`#P`9P!M`&T`.@!$`&4``!T`"``>`!M`&P` M.@!L`&$`;@!G`#T`(@!E`&X`+0!5`%,`(@`^`$$`<`!P`'(`;P!P`'(`:0!A M`'0`90`@`&8`;P!R`"``20!#`$,`(`!A`&(``!T`#X`#0`*``D`/``O`&<`;0!M`#H`1`!E`',`8P!R`&D`<`!T`&D`;P!N M`#X`#0`*``D`/`!G`&T`;0`Z`$$`=0!T`&@`;P!R`#X`#0`*``D`"0`\`'<` M8P!S`#H`5`!E`'@`=``@`'@`;0!L`#H`;`!A`&X`9P`]`"(`90!N`"T`50!3 M`"(`/@!-`&D`8P!R`&\``!T`#X`#0`*``D`/``O`&<`;0!M`#H`00!U M`'0`:`!O`'(`/@`-``H`"0`\`&<`;0!M`#H`1`!E`&8`80!U`&P`=`!"`&$` MP9@``#_VP!#``(!`0(!`0(" M`@("`@("`P4#`P,#`P8$!`,%!P8'!P<&!P<("0L)"`@*"`<'"@T*"@L,#`P, M!PD.#PT,#@L,#`S_VP!#`0("`@,#`P8#`P8,"`<(#`P,#`P,#`P,#`P,#`P, M#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`S_P``1"`+E`X,# M`2(``A$!`Q$!_\0`'P```04!`0$!`0$```````````$"`P0%!@<("0H+_\0` MM1```@$#`P($`P4%!`0```%]`0(#``01!1(A,4$&$U%A!R)Q%#*!D:$((T*Q MP152T?`D,V)R@@D*%A<8&1HE)B7J#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*S MM+6VM[BYNL+#Q,7&Q\C)RM+3U-76U]C9VN'BX^3EYN?HZ>KQ\O/T]?;W^/GZ M_\0`'P$``P$!`0$!`0$!`0````````$"`P0%!@<("0H+_\0`M1$``@$"!`0# M!`<%!`0``0)W``$"`Q$$!2$Q!A)!40=A<1,B,H$(%$*1H;'!"2,S4O`58G+1 M"A8D-.$E\1<8&1HF)R@I*C4V-S@Y.D-$149'2$E*4U155E=865IC9&5F9VAI M:G-T=79W>'EZ@H.$A8:'B(F*DI.4E9:7F)F:HJ.DI::GJ*FJLK.TM;:WN+FZ MPL/$Q<;'R,G*TM/4U=;7V-G:XN/DY>;GZ.GJ\O/T]?;W^/GZ_]H`#`,!``(1 M`Q$`/P#]_****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`*** M*`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH M`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@` MHHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"B MBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`*** M*`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH M`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@` MHHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"B MBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`"<" MFM,J]6'/`HD^Y7.:WJ[/XKL+.-OXLGWH`Z4-FBFQ]33J`"BBB@`HHHH`**** M`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH` M****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`H MHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BB MB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`**** M`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBC.*`*^I:@MA:R2,=H4<'WK@_ M#MRU[XNMY&.Z220LP]*T_B)KV\K9P]/O.1V-97@E/^*EMSU())-`'HU%%%`! M1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%% M%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`444 M4`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110 M`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`! M1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!5/7-5CT;3I)Y M,84<#/6K4C;!G\ZX7QUKAU*^-NC?N8^#[F@##FN9+JZ::3_EIU)]*W/AW;-< M:O))VB7(..E<^[X^7]:Z[X:6?EQW4V?E;Y#^0/\`6@#KJ***`"BBB@`HHHH` M****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`H MHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BB MB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`**** M`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH` M****`"BBB@`HHHH`****`"BBB@`HHHH`*&.T453UG5X]'LVFD(55]1U-`&;X MW\0_V98>7$=TT@VD>@-<(HP*EU6^FU2_DG9C\QX!/05&.E`",=H_I7?^";%K M?0(^WF,6'Y`5P=I`UU?QQKR&8?E7J%A!]DM5B'2,;10!-1110`4444`%%%%` M!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`% M%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`44 M44`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!111 M0`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%` M!1110`4444`%%%%`!1110`4444`%%%([;%W'H.30!'>74=E;-+(VQ$&2:\]\ M3>(Y/$5U_=A3[B]C[U<\8>*SJDC6\#;85SE@?O'TKG@?+VKUXQ]:`)`:LTVW,<(P>.IKNX^%_QK&\#:8=.TA69<22')^E;=`!11 M10`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%% M`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444` M%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4 M444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!11 M10`4444`%%%%`!1110`4444`%%%%`!1110`4$X%!.!4=Q=1V\+/(VU5!)/M0 M`K3K&I9CM51DD]JXKQCXO?4&:UM69+?&&;'+?2HO$OC&35O,@MV,<'()/_+3 MVK#1=JJ/[O3VH`%&!SR?7UI<44A8`T`+5SPYHYUS5DCQ^[CP6)[U3)P/TKN/ M`.B'3]/\Z1<23<@'L*`-Z%!%$JC^$8IU'2B@`HHHH`***"<4`%%-$JDTX'(H M`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@` MHHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"B MBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`*** M*`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH M`****`"BBB@`HHHH`*-U-=Q&N36!KWC.'3`T<++),!^%`&KK&LP:1;F29MJC MGW-<+X@\4S:Y)\O[N$'*K[51U*_FU>;S)I&)SD#L*A1=BXZT`")L7%.HHH`, MTTHK'-*Z[EQ2VL#37"0KN+R'^[G%`&EX2T=M9U5?^>,7S.>Q]LUZ)$BI&H7A M0.!6?X=T)-%TY8EX8X9^.IK2`P*`"BBB@`HHHH`*CF;;4E1W'04`>5?"#]IF MS^(7QJ^(7@"\6&Q\2>!+J"3[.6PU]IUS"DMO=H#_``Y:2)O[KQ&?CAX#U;PKK^FS_8KR^TFW=EBD&`?M%G- MMFA(.?E0RYY(&*SE447:>GY'U6'X9K9AA5B\I_>67OP3]^+[J.\D][J]MNA^ MF^\>HI=V:\B^!W[:_P`*_P!I(1?\(1X\\-Z_<2*'^Q0WPCO8Q_MV[A9%/L5S M7J]M)O0_*5QU'/!_$"M$TU=,^;Q&&K4)^SKQ<6MTTT_N9-11108A1110`444 M4`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110 M`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`! M1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%% M%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%(7`/_P!:JVI: MM!IL>Z60*/K0!:)Q5'6-9@T>/?,W7[J@\GVKF=<^(CS-Y=FN$[N>IKFKJXFN MY2\C&0M[\+0!LZYXUN=4+1PGR8QZ=ZQ$1MWS]9?@[PN^IW8N)E;R(SP#T8UW2H! MV^[TH`=1110`4444`%%%%`!01FBB@".6)<#Y5Z^E>&_M8?\`!/KX8_MDVP_X M33P[;S:K%&8K;6;,_9=2M%/15E4991P=D@9"1]WO7NQ7)^E-\M4%$DFK,Z,+ MC*^&JJMAYN$ELT[,_'_]H/\`X-S/%VA7TE[\./&VD^)K:-C)%9Z_&UC?0XY4 M?:(P\8VOQ-_;4_X)RL&U"'Q]%X>LD4>7JJ#7]#1`>AG!81+] M)8STY%?MQXRT^\U+PMJEOIE[_9NH7%I*EM>>4)1:2E<)(4;AMK?-M/!Q@U\9 M_#?_`(+&^%/!/C74/A_\>--N_A9\0M"F%K?,]M+<:-=]DN(9E0LD,OWT,J@` M,%WLRL:QE1BE>.A^G97QMG./I.EC,/#&QCNI1]^W=->\[>2=NIY9^RS_`,'$ MOAGQ3<6]C\5O#9\,S28CEUK1G>[TT,"`2\1S+".>S3#CJ,U^B/PW^*7A_P"+ MGABSUOPQK6F>(='OU+6][87"SPR@=<,I(R.X/([BOE_XH_LP_LF_M_P3W=G< M?#[5MTJ/[@U\WR?\`!,KX_?\`!-?QG=>-OV=_ M%C>--%9P]YX8U!5CFOHU_AEB!$-QP,!XO)F4,0F<@`INI%>][WGU/,QV7Y!F M6F"YL)7_`)*E^1ORF]O^WDD?JJM+7SS^Q!^W_P"'_P!LSPC?*MI?>%/''AV1 M+;Q'X5U3]UJ&CR-N`)4JI:-MK%9-J@A3PIRH]YGU!;*!I)IEBCC^9W=@`@') M)/88ZGTK9:JY\)BL+5PU9T*RM);_`*?)]'LR>XN%CCS\VW/4=Z7OBW1?A_+QW1!PM MF][=R;3C?(UH,`.3(25&,*RE+E1]EF7A]F&`R^.8XV<(*2NHN7O/R2MJ^NFW M<_2/-%16A;8=V[J.O;@?Y[U+6Q\*%%%%`!1110`4444`%%%%`!1110`4444` M%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4 M444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!11 M10`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%&:; M),L0^9E7ZG%8^K^.+'3U9=_F/W"T`;6:IZCKEKI2EIYE7V[UQNK>/KJ\7;%^ MYC[$=:Q9)GNY/,D;<261I&;J2> MM-Q10`U(@AS3J**`"BBB@`IIB!?=3J1FVJ3Z7OAGX9^$?BYX/9VDMY]*>6SU6QC)&(Y[<._G,.@D@!W*HRD9X M/RUXR_X+Z_&3PI<-:W?P*L="O`2HBU-=0$F0>?D:)&./:HE6A%V9]1E7!N99 MC!5,&X27_7R*:]4[-?MVTEA=QKV&Z(2(_P!<+[`5C^"_V'/VZOV2[A9_!>J:I=6] MN<_9-+\5P7]JRC^$VU\53GGA4SZ$'!'=>#_B1_P4@^$4GV[4?"U]XPM8*PQT_T2:.;\%;//0U]$?LQ?\%BO#OBSQ;:^"_C%X5UCX*^/KD+';Q: MY!+!IFIN>!Y,LBAHR3D#S`%)PH=F(!F-&FWUB?09AG/$E'#N-5X?&TUORJ,W M;S4>67SMZGS?X7_;3U=/CAX6NOV@/!5U\$/C'I1-KHGQ$CTF:PTW458JKV.J MQLQ2>SF8*&>.1EC)#J82@DKO/^"TG_!3)OA_X-U3X*^&[>ZM?%6OZ>B^([XH M\<.G6,\>YH8)2`9FE7'[:.ZG M,LB:=WNMM+H?G+^S#X6M_&W[3'PTT.ZM_.L=8\6Z197-NV,3027L*R1 M-@D;6C+*<'H>#WK^EZU@`1<,W';`&?TK\"?^"._P-N_CG^WYX/DCAFDTOP7* M?$FI3A2$MQ"#]GR>Q>X,>TUXUXZ M-3-:.'B]:<-?)M_AI;]2=5VBEHHKL/QD****`"BBB@`HHHH`****`"BBB@`H MHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BB MB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`**** M`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`**-PQGM5#4?$=KIP M_>31_*<$!AF@"_2%@*Y34OB6J9%K#YGNW&/I6#>^*K[4V;?(T:$\*H`H`[J_ M\36>GAO,F56'\/>N?U'XF["5M81)_M-Q7)JC.W[S?F^O:GA-JXH5-E`"*RMP/RIW2FK&$-.H`****`"BBDW M`&@!:**0.#WH`4G`J_H/AZ779]H4B/(#-G&W)J?PWX2FUR7?(/+M^,-_>KNK M#38=/@6.-=JK^OUH`+'3H["W6-%7:%`SCK]:L444`%%%%`!1110`4444`%%% M%`!373+9]J=10!7^S$'A0*#:DC'&.X[?E5BBGS,7*CS7]H3PO\1=3\)M=?#3 MQ%HVB^);$F2&WUNS-WI6HI@9AF5"LD?&YTCQ9JB:G8ON&`\4;1@VTB]I(&C?G!)'3ZMBCV.3MP2.3CK4E9QI11W9E MQEFF,M&4U"*VC",8I>EE?YWOYGR/H'[&WQG_`&5E^R?!?XD:9KG@U>(?"'Q# M\^[ATL==MIJ,`^TI&.@CE60``%K>6YNM1=;C5M7O-K7FK M3@8#.5&%11PL:X1><#)9C[?''Y:*H55"]`.U.HJE9*R/)Q>+KXJM+$8F;E.6 MK;U;84444'.%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`% M%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`44 M44`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!111 M0`444C-MH`6BHI+V.$':[>7Y;S)F^8YP*`.\O_%5GIJ9EF7/8#O6%J'Q-4@K;Q+(/ M4OMKEA[\GU-%`%S4/%U[J0^>1@O8*:S=S3R?,SL3W)J2./9WS3J`$5=@I:** M`"BBB@`HHHH`****`"BBB@!LC[!353>=U24^VM)K^81PHSNQQP.E`$3%L\5T M7ACP$UPZS72[4'1.^?>M;PWX)CT]5FF4--C[O85T"H0:`&VUI'9Q+'&H1%Z` M5)110`4444`%%%1O.5F"A&;U(Z#_`#B@"2BF>8W]W_/Y4@G8D_NVR/7@'Z4` M244B-O7-17%U]G(RK%>Y]/Z?Y'K0!-14<%QYPZ;>,XSS4A.!0`45"+L%P-K= M<9[#_.14U`!115/5=9)Y5C0?BQ`H`N45EZ'XQTWQ1"TNE MWUCJ4,;;7EM+E)D0^A*DX-::-N'3%`"T45$+G=(RA2=IP2.@-`$M%,\QO[O^ M?RI58M_#0`ZBHTGWR;?;.0P^OY4]Y-FW_:..M`# MJ*AAO!,Z@*VULE6QP?\`//Y5-0`45'-/Y./E8YXX!/<#^M$4_F-M*[6QG'^? MQ_*@"2BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`H MHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BB MB@`HHHH`****`"BBB@`HHW`FFM(J`[F5=O)R>E`#J1FVBLW4/%=GIX.Z:-B/ MX58$FL;4/B6N2MO;E@.C.=OZ4`=5YB^HJO?:O;:>A,TR)QZUP-_XSU"\R/-: M-6ZJHX%9H=YF+2-(S9SECF@#M+[XD6MMD0_OF]FK'U#Q_?7<>(]L7/\`#Z5@ MS;F(_BJ0=*`)+J]GOR&FD=CW&[@U"VT-SUIU(4W&@!0NVBBB@`HHHH`****` M"BBB@`HHHH`****`"BD;\OK1NVCDCZT`+1GYL5-9Z=<:A)MAA:3/0@&NJ\/> M!4M-LEW\\OI_"*`,/P_X0NM8;4`6F_P""%7[,K'CP#?\`!_Z&74Q_[7K`\:_\$@H?@KI5AN8)]^0Q"C=R`,Y5NWVZH^9JX']I']I'P;^RM\+- M0\8>.M;(JS7CJI80PH>9)&QPJ\]^`"0`<'_P3H_:WNOVS/V;[ M#Q1JFGKH_B;3[R?0_$.G1EO+L]1MB!,$W?-M8-&X#9*[\9.,GSW_`(+N?+_P M2Z^)3#Y6631\,."/^)O9]ZE_X(W_``U\0^$OV8M7\4>*-+N=$U;XJ^+]3\>6L:,".-RPK(,X.'7(!XIG_``79`;_@EW\258X!FT?)]!_:]GF@ M#ZM\,C;H-I_UPC_]`6KYYKX[T3_@M]^S5::3:QR_$"^CD2%`Z#PUJC%2%`() M^S8X(QQ5IO\`@N3^S*@RWQ"U!1[^&=3_`/D:@#'^,<:_\/U_@V=HROPVUC'M M^_:OM*OSE\!?M=_#W]L;_@M#\+=<^'NNS:YI^E^`M7L;B9[&>S*3&0OL*SQH MQ^4@Y48X-?HU0!\R?M]?ME^(/@QJ/A/X;_"[3[+Q%\:/B1(T6BVETS&TT>V3 M(GU*Z5>?)B`;"D@,RMR=A!X_P1_P1M\$^,'77/CIJVO_`!V\:748:YOM>OYH M].MW/5+:SC<+%$.@!+=3@+T&9^Q?;1_&7_@JA^U!XRU0-<3>"TTGP5HX=L_9 M+81RR3JOIOD16]?F;UK[=1=BA1T'`H`^//'/_!$_X,G;JGP_LM:^#OBZQC+6 M'B'PAJD]K-:R#E=T3NR2)GJI`R,C(SFC]BS]K7Q]X:^.FI?L]_'1[%_B-I-G M_:'A_P`26H\FU\:Z:"?WRI@!;A%5RRKD$1R9P49C]B$;ABOA[_@LGI,7PRO/ M@'\6M-7R_$'@?XBV&GB5?OS6%X'6XMR>NQO+0$#HI?L6R`?<(/%?GS^WS^SY MX3_:?_X*X?!;P;XVTV35?#^I>"M7EFMDNYK7S&BD:1#OB97!#`'`(!YST`/Z M#5^?/[?OQ_\`#O[,G_!6WX*^,O%3:H-&T_P5J\$G]GV$M]/OE=D7$409VY/. M`<#D\`T`>C#_`((5_LSO_P`R#??^%-J?_P`?H_X<4?LS%2/^$!OOFX/_`!4N MI?\`Q^H_^'X_P+7[K_$3\?!.I?\`QH4ZU_X+??`_4+^WMXG^(7F7$J1+GP7J M"KN9@JY)CXR2!^-`'U5X$\$Z?\.O">EZ'I4+6VEZ+91:?:1-(9#'#$H5!N)) M.%`&2/X8:O\8?BC^R[X9\.:])X4\0ZYXWNXM,UB)2S:?>+9AX M)B`1D+(B9Z\`\-]T_HP.E?#_`/P508_\-G_L6_\`929Q_P"21_\`KT`>A?\` M!./]N'4/VF?"&L^$?B!I\?A7XX?#6?\`LOQMX?\`NMYHQLU"W7JUK<*5=67( M&[`)4HS?3Q7=7QO_`,%&OV2O%D/BK0_VAO@C:G_A=WPWB,CG_7Z M9SN$ZI+&W4'JI5A\K*2`?//Q%B5?^#@?X_P""@G_*6K]B'_K[\7?^FZVK[BH`_/K]L7P1K?\`P3#_`&FK M[]I[P+8WFH?#/Q5/';?%WPO9(/[E^'OQ! MT7XD^!]-\0:#JEKK6AZW;)>Z??6DGFPW=O(H,F^+/`'Q:,M[\)+/4-4CA_X1'5YIXTFM+DR,N+!))_-#\#[@+;C-(`#Z!_X* M(_'3Q3^TI\6K']E7X/ZDUAXK\16:7WQ!\2VY++X(T%\;@"N/]+NE8+&NX'8V M3@.'7ZH_9S_9\\,_LL_!W0/`?@W35TOP[X;M%M+6+(:23!RTLC8!>61B7=B. M68FO-/\`@GU^P];?L>?"*\M=7U)O%'Q$\779UKQKXFE8M<:]J,G+DL0#Y,?^ MKC7@;06*AF:OH0<4`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110` M4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1 M110`4444`%%%%`!12,X45#/J4%JC-)(B!>N3TH`GHKG=3^(-G;2;8F-P>P45 MBW_Q!OKG/D[8E/J.10!W$]PMN-TC*J^I-9.H^.K&PX$GG-_L=/SKA+N]N+XY MEF=BW7%11Q[>O-`'1ZE\2)I1^XCV+V)K&U#7+S5%W23O[!3BJ^**`&1;B6+9 M)SWI^,T44`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!112.-RT`+13$ M[IRS>PK9T;P):YOK*+5_C!H5D]Q93>39T08 MCCD;EAG;@)0"F<`(N,5>%B@/W(1](Q4'AY&AT MFWCD5DDCB0,#V(4`C\""*O$X%`'Q;\7T\K_@NC\'%7&&^'&KD^G$SC@=,\]> M>E?:5?+OQ*^`GB_Q#_P5D^&?Q*L]%:;P3H'@C4M'U#4_M4"_9[J:4M''Y1<2 MMD$?,J%1GDBOJ*@#X2^%.O1_L@_\%B/B1X=UC;:Z'^T9IEEK_ARZ<^7#/J-F MKQ7%J&;CSF$COMSWB'5Q7W7&V^-6]1FO'?VSOV*_#/[:_P`+8]`UZ:\TG5-+ MG_M#0==T^0QW^@7J\I/"PQG!`RIP"`.58*R^$^%?B]^UE^RO"FA^-_A?9_'K M2;,>3:^*?"FK06.HW*#.TW%G-MS(0!N9`!D]6&6(!]L2-L1FQG:,X]:^'/\` M@I/KL?[3G[6'P&^`.BYOKJ'Q+#X[\5B`%O[,TRQ#E!*W_+/SF+!<]2(QTD!K M6US]I[]J3XWV[:5\/_@#_P`*WDO%,+^(_'^N6LD&G$\;UL[9VED8=1PRD@`@ MC(/IO[%G["5G^RM;:]K^K:[=^./BAXVF%WXF\67X*SW[ALK!&F3Y5O&,!44\ MA1G@*%`/H('(KXO^/4K+_P`%P/@,O_4BZ\/H#DD>O.U>#D?*.E?:`X%?%/[; M?PW^+^A?\%`_AG\6OAK\,&^)5GX3\,ZAI5W:CQ%8:3MFN'(4%KB0-@(Q;Y4( M.`,C`H`^TD4L/O420,_21EZCBOD/_AKW]J[_`*-!/_AS]'_^*I'_`&O_`-JY M5./V0&+8R!_PL_1^?_'J`/L%1M7'IQ7P_P#\%4/^3T/V*_\`LI5Q_P"D+5]? M?#/6=5\0>"-'U#7M(.@:Y>V<4VH:9]J6Z_LZ=D5G@\Y?EDV,Q&Y>#@XXKYQ_ M;_\`V??&7QG_`&H/V8?$'AG16U/2/AWXWFUCQ!.+N"'^S[0VNP2[9'5I/G(7 M;&&;)SC'-`'U;'RK?Y["OS\_:G\(:I_P2P_:-O/VC?!-AJ%_\(?&<\\, MV41D:Q/\X%4=>\.VWB72;BPOK:UO M+&]B>WNK>XB$D=Q$ZE7C93D,K`X((((R,>@!\/W7C+2OB'_P72^$.O:%J%GJ MVBZQ\#[Z\L;RTE$D%U!)J"-'*C#AD92",>HK[PK\X_V1_P#@EUXV_8T_X*IV MFNZ,UUJWP'TWPMJUIX=>:^B9O"S7=W'#\QQ MQ_G\*`/-?VL?VI/"O['WP-UWX@>,KX6>DZ(@6.*,%KC4;ACMAM($ZO-*^$4# MINW'"@D?*GP*_P"";_\`PV+\.O'GQ&_:9T=KCX@?&?318IHRR?-\/]%5_,L[ M.TZB.Y4B&>5RIS*,%<;PW2Z;^S%\0/VQOV]7\?\`Q@\/R^&_AC\);P?\*V\* MSWUK=+K.H#.[7;P6\DB@K@>1&[!E`4[5(*O@S\2=2_99^,M^MY\0/!%G]I\'^()V,:>//#ZDK#.C-PUQ`N$D4L7 M(C8DNTI?$_P`$R>`O'C6_E:OI M@OK6\@,ZX#3P202RKY,O#J"VY<[6RPRP!ZE1110`4444`%%%%`!1110`4444 M`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110` M4444`%%%%`!1110`44`YJO=ZE#8_ZV14'J30!8)P*3=Q7/:C\0[2V#"+=,W3 M`XQ7/ZCXYOKYB(V-NO;;U-`'=7FK6]C&6DF1?QS6#?\`Q)M81MA5KAO]GC^= M<;,[7#9D9F]>::L2H>F*`-C4/'&H7P*J\<*]O6L>>::Z?=(S.WJ33LYHH`!R MHS1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!11G%&:`"D9 M@O6B..2>8+&C-N(``%;>E^`+B_8-.1#'Z8^:@##^:5@L?S,3T'>M;2?!-]JI M7=MMT_O'&:['2O"EGIB#;"I8=">2*T5B"MGO0!DZ/X0M=)"ML9Y!R6-:X4+T MI:*`"BBB@`HHHH`****`"BBB@`HHHH`****`"F&W0MNV\T^B@`"[:***`"F/ M;I(^YE!8#%/HH`;'"L0^48X`_*G'FBB@!H@4/NV_-ZTZBB@`IODJ3G:.>OO3 MJ*`&&WC+;MJ[NQQTIZKM'%%%`!3?(7=NV_-SS3J*`&^6/\FCRQG_`.O3J*`& MB%0>E!@0G.T9Z9IU%`#8XUB'RC%.HHH`C6UC5RVQ=S$G./7K4@&T<444`->% M9'W,H+#@4K*&ZTM%`$<5I'"361J/CFSL#C=YC>BFN)U'6;K5&S- M,S<]`,9JOB@#;U/X@76I<0;K=?KFLBXO)[PYFF:1O?I4=%`#3%E]V?PIU%%` M!2.N]<4M%`#438/6G444`%%%%`!1110`4444`%%%%`!1110`44R72;8HY';/0+0`&7#XQ^-.)XK:TOP%>7@7S-L*G M^+^(?ABNAT[P#9V6&=?-D'<]Z`.*MM&NM2E58H9"O][&,5T>E_#<*FZZ;IV! MSFNK@MUMTVJHQ]*DQQ0!3T_1;6PC`CB4>YY-6E393J*`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHW9J&ZO8K-=TLBQKC/-`$U,EF$:;N,#KGM7.:S\0[>)&CMU\YO[W8US.H M>(+S5/\`63,BMU5>!0!V.J^.+32SC)F;T0US.I^.;[4E98_W2YXQZ5C>2-NW MG'I0L6T<$T`*9'G?=(S,WJ32]***`"BBB@`HHHH`****`"BBB@`HHHH`**** M`"BBB@`HHHH`***,T`%%-=]JTZVAFNVVI&S-V`'6@`+8I-XW8[UJV'@2_P!0 M/[Y%MU[,W-;NF_#F&`!KAVD8=`",?RH`XQ5DDD^16?T"C-:MCX*OM44,JF*- MNI85W=CH]OI_,4*QMWQWJT!B@#E].^&\$/S7#-(5Z8KH++3+>P11%$J8&*L4 M4`(5!.:6BB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@` MHHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"B MBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`*** M*`"BBB@`HHHH`****`"BBB@`HHHH`**#5:_U6WTV(M-(J#&>>]`%FJ]YJ<-A M&S32(NWG&>:Y75_B,TNY+)>5/WSV_"N;GN[B^EWW$C2'T/:@#J-4^(Z[V6Q0 M-S@LPQ7-:AJ-UJDNZ:9F&Z@9_K7<)&L:X554>@&*=CF@#!L M/A_8V0^93-_O]OI6O;:=#9@"*-5Q[5/10`4444`%%%%`!1110`4444`%%%%` M!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`% M%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`44 M44`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!111 M0`449J.YN5M8]SL%'J>@H`>6`J*^OH[&`R2.$4#KW_"N;UWXD1VKM':KYC+U M;'%I/:MZR^&JXSGO5NRT6]U!OW<+;6Z96N^TOPG8Z;S'`N[U;FM)(EC7"JJ_04`< M58?#FZG4&>00]\+SFMJP\`6-H3GH`*`)*:TFT MUJ:9X-OM1^\K1>A(P36]IWPVA@^:XD:9O[O\(H`XL-]I*JJR$L<#"]:UM.\' MWU\J_N?+7U;O7>6&CV^FC]U&J^^!5H#`H`Y?3OAO"A#7#;F]%K98HRS-M5>2:Y;Q!\0A#F.S^9NA8CI] M*Q=;\77&M3X#>7%C.U:RQ$`^[^M`$EQ.]Y*TDC,[-_>IM%%`!1110`4444`% M%%%`!1110`4;L&C-12G]YZMZ4`2T9Y_I5JRT"\U+'DPDJ>[5O:5\._NM=R8Q M_"M`'*APQ`!R3T`[UH:?X1OM3;(C9%_O.I45W5EX>M-/3,4*`'KD9JXD>5XX M'3`%`',Z;\-(865KB0R-W4#C\ZW[+1+6P3$4*K[D6K'&YQT]\4`4Z(+ M6:_D5(8I')/4#BNQTKX;PP,&N9&E;NO\-;]GI\-BFR.&-%]A0!Q>E_#F[N3_ M`*0_E*/X2:Z32_!%GIH!V>9)UW-6N%Q2T`-BC$8P%51[4[%%%`!BCI110`44 M44`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1145Y>1V5NTDCJBJ"M8WB/Q9;Z/`P_P!9,>%0 M=_K5#Q1XZ6TD\FT8-(0U5 MP,?_`%J**`"BBB@`HHHH`*;*Q7&*=39)-E`#8W8MS3F4?>QD^PJ6RTZXU9PL M4+L,]172Z5\-N%^V2=>JJ>M`'*VZ2WDFV.)F:MW3?A]=7Q62X/DQ_P!W^*NR ML-#M=-C"PPHNWN1S5N@#)TCPA9Z8O^K5V'\3PK@_$?B:7Q!.>?+A4@JF> ME4]3O[C5[II9I"=QR5QT],>G]:K^1_M-^=`$EK`US=1PIDM(<>M>H:=9+I]M M'&HP%6N1^'>C"2=KN3E8QQGL:[:@`HHHH`****`"BBB@`HHHH`****`"BBB@ M`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`" MBBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`** M**`"BBB@`HHHH`****`"BBB@`HHJ&_OH]/MVDD8*J]2>U`!<7"QIO8[449+' M@"N/\4^-6NI/)M&(BZ%B.N/2J?BCQ;)KH:.',=NIX7NWN:R-JALCUH`%'7)W M$]Z6BB@`HHHH`***:[A1R<4`.IKOL'^%6]*T.ZUEQY$;;>Y/``]:ZW0_A_;V M(5[@_:).I!Z`T`L2?N8VV]-S#`KJ=&^'D$(62X;SI5ZCL*Z6*%8$" MHH51V`IV,&@"&ULX[-=L<:HOM4Q&3110`4444`%%%%`!1110`4444`%%%%`! M1110`4444`%%%%`!1110`4444`%%%!.!0`44@8&J>IZY;:8FZ6;;C/RCO0!= M8X[9^E4]4UVVTF#?,P7/1>,FN6USXB33DI9JJQG@N_7\*YZXN6O)-TK-(W3Y MJ`-O7?'DVIJT5J?)B;Y68#YOPK"ZG/?UH`VT4`-E.$]*6RMFOKF.-?F+FD=@ MJDMT')KJOA_X=4,;R1?F;&Q3Z>M`'2:)I<>DZ>D,?0#)S5R@+@_6B@`HHHH` M****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`H MHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BB MB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"@G%%4=;UB#2;-Y M)FQMY`]30!-J>IQZ5;-)(<*HS]:\^\0^(I/$$Y7<1;H()M>GW, MV(E(*J>U4:`&I$(^E.HHH`***,T`&Z@MMIVGZ5-JE=9H/P]C@* MO>;9)%Y"YX%`'-Z7H=UK$NV&/Y>['H*ZC2/AW#;2+)@&*Q[WXC75UN6W58@.Y%`';3W"0+EI%3'7-8^I>.K*S!56\YO1>U#6+*[7TS23,SL>N3UIV M,T4``&!3'3!W?Q4^D9MJT`)&Q8']$30]/2)?O=6([GO5Z@`HHHH`*** M*`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH M`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@` MHHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`KSWQQ>R7'B&X MC9R8HMJA??&:]"KSGQA_R,]Y_OK_`.@B@#-HHHH`**`IXY84`94,,EY(8X5+2>@&<5TOA[X>M*GF7C':W.WH:Z+2O#UMHR+Y,(W- MP6Y)-:`&*`*^GZ=#IT>V*-4'J.]3[%W9VC/KBEHH`****`"BBB@`HHHH`*** M*`"BBB@`HHH)Q0`44WS%]:<#F@`HIK2*IY(%12:E;Q#YIHU_X%0!/163>^,; M"S/S7'3L!G-9]S\2K6+_`%2O.?0$"@#IJ*XRY^)LSC]U;B/_`'_F_/%4)_'6 MI78*F6-1V*KM`_.@#T!I`@^;Y?J:JW6MVL"_-<1\'D;N:\XNM5O+D_-<22?C MBH"OF8+9+>YH`[F[^(5C;95?,D;V'6LR?XD3/N$<*Q<\,3N_2N9V3W8YI**`#%&,444`%%%%`!111 M0`44FX4H5I.%4LQZ`=Z`&^4TLRJGWFX`KNO!'A@Z+9F21?WTAR<]JA\%^$OL M4:W5PNZ1ERH8@!1THHHH`****`"BBB@`HHHH`****`"BBB@`H MHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BB MB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`**** M`"BBB@`HHHH`****`"BBB@`HHHH`*\W\7/GQ3>_]=`/_`!T5Z17G/C#)\3WF MU2QWKP/]T4`9N:FL-+N-6F\NWCWGN?2MCP[X(DU4++<>9%'U`S79:?I<.F1! M85"CO[GUH`Q_#W@*VTO;))B29?R%;RQ;&X.!Z`<4ZB@`HHHH`****`"BBB@` MHHHH`**:\FSKM_$U7N-:M[0?O98U]/FS0!:HS6#>_$*RMI-JB2;W05EWOQ*D M3_4VXY[R?>'U%`'95%)=JBY+*H]Z\^NO&6H7S,RS&/GH.@K.N+V2_.7DD+#O MF@#T6Z\5V-D#YEQ'D=AUK.N_B191'"*\ONO>N()V+S30N]MWO0!TU]\3),_Z M/;LO^]WJC+X[U"Y;[RQ_[M9>,4U)-YH`MSZW>W/W[J5E[CUJM+NG;!3J*`$9=RXI$38*=10`4444`%%%%`!1110`4444`%%% M%`!103@5)I]G-J=RL4498OT/84`10VAN9U1%9F8X`%=KX3\'+I:K+<*OG-R` M?X:M>&?"<6AQ;F"RW##YW/X<5L*A#9X_"@!5&T4M%%`!1110`4444`%%%%`! M1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%% M%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`444 M4`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`5EIX8A.L3WC!6:7 M&`1G&*U**`#:/2BBB@`HHHH`***,\T`%!.T5#=WL5FNZ218Q[D7AQ&JP+TP#G\:R;B M[FNVS+-))GLS9'Y4`=UJ/C>ST^3;YGF<Q)KF@@4TZ@ M"Y>>([Z]5M]PPW>YXK/0>86W,S_[QS4E(J;*`$\M]=5X=\`+"5EO#YC=0F,`4`8?A_PK<:Y.I96 MC@YW$C!-=UI&A6^CV_EQ1KVRQ'+5:2%8T55RJJ,``TZ@`"X[4444`%%%%`'/ M?%+XL>&?@CX)NO$GB_7=+\-Z!8E%N-0U"X6"WA+N$0,[<#<_\%WFQ_P`$Q/'W_7QIA^N-1MR/U`KY3_X) M>?\`!'KX._M=?L2^$_'WC"'Q9-X@U:?4(;AK36&@A*P7T]O'A-IQB.-`>>2" M:KETN!]Y?\/.OV=Q_P`UL^&W_@^@_P#BJ'_X*A?LZP#_M1*W0->I].?M,?MG_#O]D+P!I?BCQYKDFDZ)K%XEC9W$5G-=>=*\;2J M`L2LV-B,%I8\D9V.`R M\@\$"N!_:A_8G\"?MC_"S2?!OCBUU*ZT;1+N.]MX[*]>U=)$B>%2S+R?D=AC MH8#D#D^O2F`ZBJ][JEKIB*UQ<06ZMT,L@0'\Z=;ZA!=VRS1 M30R0R?=D1PRM]#TH`FHI-ZE<[AC.,YI&F5`-S*N[@9/7O0`ZBLS7/&NC^&)8 MTU+5M,T]YAN1;FZ2$N.F0&(S5^*ZCN(%DCDC>-U#JZL"K*>00?3WH`DHI`X9 M<@@CUI&G149BRA5&XDG@#UH`=39'\M"QZ*,FLS1O'6B>(KQK?3]8TJ^N%!)B MM[N.5P!U.%)-:%Q,JQ?>1<_WO3O0!XAX6_X*/?"/QG^U%-\&]/\`$5U/\0+> M\N;![#^S+E8Q-;Q/-*OG%/*^5(V.=W.,=2*]TKYW\+_\$T?A1X)_:ZF^-]EI MNM+X]N+VYOC=2ZG*ULLMS$\,I$6=N"DC`#H"<@9KZ&DE6(99E4>I.*`'456U M#6K/22@NKJVM?,SL\V54W8QG&3SC(_.I5NXG@659(VC8`APWRG\:`'N-R$#@ MD=?2OG#]@G_@I;X%_P""@&J^++/P;IOBZQF\(+;27AUJU@A61;A[A8_+\N>7 M=C[.^-O/\`X+0?LQRWGD#X ML:7N)`#'3KY8VSW#F#:5_P!K./>OS@_9C^#.N?\`!>+]L/Q?XX^(FNZCI?@? MPKL-M86SQF:UM[DR-:Z?;AU*QYABD,LVTEV53CY]R_?-Y_P0E_9GFT`V2^`] M0A8I@W<.OWXN`WJ,S$9_#'L:`/ICX4_'OP3\=?#_`/:W@OQ5H'BK3>-]QI5] M'=QQ$YP'*$["<'AL'@\<&NLCE65AZ?/J$5OJ-U?*B:EH=JS9ED'EA8[Z/:`#!(B`D(#O4EH_U1TU?(M5B:1I'C M^4LP`9L<9(``&?8`>PH`L44BNK%@""5.#CL>O]:5F"CGB@`HHSS06P*`"BHY MKN*""2622...$%G=FPJ`=23VQ5'0?&&D^*@_]EZIINI>7@O]EN4FVY]=I.*5 MP-*BFI/'(?E=6[\'-.#9I@%%0S:A!;6TTTD\,<,"EY)&8!8U&'-K<)-L^NTG%*X&@3@5\W_ME_\`!2WP+^Q+\5/! MGA/Q9IOC"]O_`!R#]@ETBUMYH(#Y\W_N1MJN,;NP'ZW1M.IF[;)S39[Z&UM9+B2:. M.")2SR.P5$`ZDGH`*D"6BLW0/&.D>*Q*=+U33=2$!`D-K>F=I./QK02 M17^ZRMP#P>U`#J*0.I7.>/6J6M^*--\,VT>VF&8Y8Y`\I)X'XTK@345GZ'XLTOQ-:R3Z;J>GZA#"U,`HI MHD5CC<,]<"LN?QWH=MK']G2:SI,>H!@IMFNXQ,">0-FF?K_@?RH`=13?-4-MW+N],UFZ1XXT77[V2VL-8TN^N(OOQ6]TD MCI]0I)%`&H3M%1^>N_;ALXS]WBAIXR=OF+UQC/>ORG_X.A]-ANO"?P9:2&.3 M;=:QRZ!L?NK4_A0!^K4A/6L%4VCI3L4`.NKF:]E,DTKR.>"2<5&L05J=10`4444`%%%%`!1110`44 M44`%%%%`!1110`4444`%%%%`!1110`4444`%%%-63+8H`=10QVBH7?>W<>]` M$U&:9#:R7,@6(/(S=-HZUOZ+\/;F]^:X>2W7N.X]J`,/RFE3Y%+L>-HZGZ5N M:'\/)M117N-4'KC)JV. ME%%`!1110`4444`%%%%`'Q__`,%W_P#E&'X__P"N^F?^G"WKE/\`@B#\:_!_ M@K_@FKX%T[5_%WA?2=0AN]7:2UO=4@@FC#:I=,N49PPR"",CD$'H:ZO_`(+O M_P#*,/Q__P!=],_].%O7Q+_P3I_X(<_#_P#;:_9%\-_$C7O%WC#2=4UR>^AF MM;`6OV>,6]Y-;KMWQ,W*Q`G)ZD]JT7PZ@?K#_P`-*_#W_H?_``1_X.[7_P". M59T;X[^#_%&J0V&C^+O"NK:A<;O*MK358)IGVJ6)"*Y)`52QQT"DU\!_\0Q? MPG_Z*!\0ORLO_C->E_L@?\$*OA_^QK^T+H?Q&T#QEXTU+5=!CNHX;:]^R_9Y M1/;R0-OV1!N%D+###E1GC(J96Z`'3Y<>[_A-;0=,@9M;L_SQ MGUQS7TA_P3WB4_\`!-'X5KM^5O`]GD#CK;#/\Z^;_P#@Y!4I^PSX;5NJ^-;, M''_7I=_2OI+_`()[?\HU/A3_`-B-9?\`I*M596`_&C_@ESXK^+7B=_%_P>^" M\EOX=UWXC2VMYK/B5_86F6:RI*P*J75I&N8D$BY?(1``7,B?8NK?\&SOA MG4O"\[7'Q<\1WGB:96DEO[K1H9+:>5B"9)(C)YK;B`2WG9;`YZ`X?_!L3H%K M<2?&C4S&/MD9TBT63N(F^V,R_BR+^5?K7CCFE/1V`_&/]@'X_P#Q1_X)A?M^ M6/[/?Q$U"?4/!NM7T.G0Q2S-+:V^.OB]^SAXFT'X:^)&\'^.-1MXH].U)9?):$^:OF1F0*S1[XS(N]`&4D$% M3@U^=_\`P7+L8K;_`(*B?L_W2QJ)KF/2HI&_OA=9)7/TW'\Z^Y/^"CW_``42 M\,_\$\/AC9ZQJUC-KGB#7Y)8=$T6&8PM?M$%:61Y-K;(8E=2Q"LQ,D:JI+"B M2VL!\=:+_P`&W%S\1)9M4^)WQJU/7/$EYMEN)K/3C<;7YRIGN97DEZ#DJA[8 MQC'DG[3_`/P3(^+'_!)?1Y/BQ\(?B-J6H^']+N8CJRPVK65S:AY%B0S6_F-% M>0%F56+#Y0?N;#/!/A#P;X9OE$FGRW5E!:K< M0GYDD47LKS2J5(*RHBQN&!48.3A_M0?%;]O#PQ^SC\0='^)WPY\#^)/`NJ:! M>VNK:O9I;O+IMNT#AKE/L]T"OE#]XQDA8?)D8`(I1U8'WQ_P3L_:^C_;4_9, M\+^.)K>WLM4O!+8ZO;1/NCM[V&0QR!>X5_ED13DA)%!R037X[_`;XG?$KP)_ MP4:^-WA_X.V,)$QM5/'-WM&,(/[: M^%FN.ES=11AUL+S3WD9'OH+>0G[/=1-RR*<$@)F0.I'[D=_QK\H/^#H?38F\ M'_".Z91]H2;6XU8?PHT=F2OXE%/U%33U=F4]C]&/VF/VAM!_93^!/B?QOXFE M;^R?#]HT[QI@37CL=D4$>>#))(R1J#W;)XK\H?A;\(_CM_P7@\8:IXD\9>+I MO`_PBL;H06]C:PR26,DL>&,5K;;U%Q(N5WW,Q95+`+NQL3V;_@XJ\67NE?L8 M?"O28"T=GJ^KQS73!!M-^&W[$OPKT?255;*' MPMI]Q\IR)))H5FEDSZO)(['ZU4E97)C<^$?B;_P;.>']+\-1WG@'XF:]8^*; M)?,MGU:TB:UDF7)7#P!)8!D#]X#(5ZX->Q?\$A[W]IC2[KQ=X*^.%C=2Z#X3 MD^Q:7K>J2-)J%Q<81MD,_2[MO+.X3-DJ2%WL04C^[,4G^-0RC\COV>K"%/\` M@Y;\;,L<8=9=1.[;\W.F1=_^!'/KQZ5]V?\`!2?X)?%#X^_`ZQT/X2^.9/`/ MB0:K%+=WPGDMTN+':ZS1&6)3*A#-'(#'R3#M/RDD?"_P`D\O_@Y5\/\`L%P5]5_\%/\`_@J]H/[`>G:1I-CI/_"4^/\`Q!$9K'27N#!!:0D[1<7! M4%]I;(6-1NDVN,KC-7)=@/F[0O\`@V8TG58WO/%GQCU[5];NR'NIX=%5?-8# M^(S322/C^\QY].:\3^/7[+?QL_X(6^)]%\>?#_Q\/$G@74+_`.RW$1M)+:SD MG.&^SW]B)"C+*BLJRQN'RC8,3E-_O7AGXL?\%)/C59KKFG^$O!_@O3[V,2P6 M-]8VEBX']TPW,LMPI'<2A3R,&O)_^"@OQ4_;2N/V3?$GAGXU_#?PJW@N]FM9 M+CQ!IT$4L^GO'WNFC16D"I\\(/SGGD410'ZO\`[+7QOTW]I3]GWPIX M]TE9([+Q381WHADD$DEM)C;)"S+PS1R*Z,0`"5/`K\S/^#8S_D>OCE_UZZ+_ M`.C]4KZZ_P""%UXUW_P3`^'`;[D+:C%&/11J%SU_'-?(O_!L9_R/7QR_Z]=% M_P#1^J54=F!^N54?%&DV^O\`AK4+"[5GM;ZVDMYE`Y9'4J0/J#5ZBLP/PA_9 M0_:`\6?\$-_VL?&?@WQ[X8U+4O#.N&."=[<".:\@MY)/L^HV;,`DJ[))]\9< M#]X$W*\;"OU'^#G_``5\_9X^-EO;_P!G_$SP[HMY,N6LO$,IT>XB?_GF?M`1 M&;/&%9@>Q->R_&G]GWP7^T5X9.B^./"^A^*M+Y*0:C:K,8&/5XV(W1MT^9"& MXZU\9_&'_@W/^"'CN2:X\+ZCXR\#7+#]W;VVH_VAIX/^U#.XM98+FUG&Z*>&421S#U4KD$=LU\I_P#!*M-T35;7?C>D3BMK_@DQ_RG4_:+_Z^/%__`*D4 M%9W_``$[/Q]_P40^"V@Z@SQZ?KVEV.FW3(VUEAFU=HG(/8A6//:M.57L! MTVA_L;?&3_@M3<+\2/BKXOO/AS\*=4D-WX3\+6D)F>2T+9BN!$Q5/F0AA<2J M[2%BR1QQL@%#XV?\&\FL?!O2AXL^!GQ)UQO%>C9N;.QU$)974[*I;%O>VY3R MY..-R[2V"6`'/ZR:-ID.D0+;6\,-O;6\20PQQC"QHHPJ@=@!P!5B>+SDQQUS MS4\W0#\^O^"+O_!3C7?VH;G4OA;\3F9?B+X7A>XMKJ6#[-)JMO&ZQRI/&>1= MPR'#$!?,4EMN4=C\Y?\`!P%XDM?`G_!27X/Z]>0-<6_A_0M/U.94`,C1PZM< M2L(\\!L*>3D8[5;^(&E0_!?_`(.5-'.A1K:KKFL6]S<(J@!FOM+VW6!_ML3( M>^9&-,_X+Q^$K#X@?\%/O@CH.I?N]+U[3=)TR\R0!Y,VL7,;G_OEFZ\8)IRC MV%=(Z[PW^Q/\:/\`@L[(OQ(^+?C&^^&OPQU9_M7A?PG9P&8FS((CE,;%8U+8 M#":96DDSN58TV+63\=O^#>K7/@=IO_"9?`GXA:]<>)M%_P!*MM/NP+.^N2.< M07L)C42;0=JN@#'`++G-?K5HVGQZ39QVEO%%!:VJ"&"*)-J11KPJ@#@```#V M%6+M2T/R_>SQ4W&?G_\`\$7O^"G>M_M5OJ?PQ^)+LOQ)\(V[2)?I_P"Y&VKG=0LX?@W_`,'+ MUO%X?C-O'K&MI)P,DAD/NM=#_P<(_-^VE^SR#UQ_[D;:KI MI\P'Z3_M:?M%:'^RA\`O$GC[Q$LDNFZ!;E_L\3!9KZ9R(X;>,GH\LK(@/;=D M\`U^6/P-_9;^,7_!=+4KOXC?%?QK>>%?A?'?20:1I]C$_DW#)G>MC"Y$6V,Y MC:YD\UW9&3G8P3W'_@Y@\6WFE?LO>`-'@:2.UU?Q49Y\,45S!:3%%)&."7/& M<<$GI7GG[,?_``5_\8?`7]G_`,$^#="_97^(&I:7X,K/QSH:?:K2VU2ZCB MDNBO/EP7=LD)MW;'`*LI.%)0-YB^P_\`!%W_`(*3:]^U3X7U[X=_$)';XF>` MTW37$L/V>75[97\EY)4P`MQ%-^[EQU+*W`/#OQ`NM5FU&VOM+NOL]@9-+FE?= M'8=' MGTW3W5V%Y=-:E(8]L8W',KJ2JX+=-RYW#W;2_P#@@UXG_:@5O&WQ^^+WB2\\ M>:VOVB>RTV&":/1S(=QM?,?*E4)QLA6.,%<*&`S7"_M<:;;ZQ_P<;^!8;J,3 M0'4M!E*'NR6K.GY.JG'M7[!P#]PN1VZ9SBARLER@?AEXH\._%3_@@+^U7X?D MM?$4WBKX;^)2T[VD0:UL==M48+7&/#6FP^9NMU=@9$CD98T&X$&5T>21E?.T!1 M7I'_``9E_?1>*)%CD'WHP;.4MCZ[17VO^PMI\.E?L8?"6"WC2 M&&/P;I"HB=$`LXN!^OYT.6EP/RD_;0_X(^^+/^";?A1/C%\(/B%KEY;^&'C- M_)&B6>J:8C,J+.DD9\N:`,Z"2-XU`4%B&7('Z1_\$N/VS9_VV_V0-#\7:A#: MP^(K*:;1]P[265)>':]MK6SCL@_4D M6[H[X+<\S9)STKXY_P""3'[;&N?LA:AXTUW1_@WXD^+>L>)DLX+K4=+DE5M- M4>=*ZR".VFYG8HWS,`3%P,KS]J1_\%X/B+)]W]DCXB?]_KT?^XZKLU\('D_P M0_:"^*7_``1=_:XTGX2?%+Q#)XH^#WB!T73M5GD=K?3[9VV+=VQD):%8F($\ M`9E4%F'6-F^A/^#BPM)_P3ULF8)\WB^PWJ<%1B&ZZ_3C\J^,?^"G7[6_CK_@ MH]X*\+Z7)^SG\0O!NH>%K^>XBU`V=]J#&&=`LD03[''C+)"QY/,0XKZ0_P"" MNNL:IXB_X(F?!_4-. M_LA?LY?%K_@J=^SGX9\+7GBBY^&GP&^'ME'H'V>VC:>X\4WD>'FD9"R"1%,B M@.[&./"@+(XD9>E_:-_X-T9_A-X%N/%'PE\>ZQJ?BK08C=V^G7]LEMF=P^Z_^"0>E6VD?\$U/@]':PK#'+H*W+*.?GEDDD<_ MBS,?QKZ-N4SL(V\.#S1S.]@/SX_X(3?\%!O$?[5G@/7_``/X\OY=2\7>!4BN M8-3NG_TK4["4E?WV<%I(9%",^`6#1[OGW,WP?_P5P_X)G6/[`^IZ#X@L_%UQ MXBF^(&I:G*R/IBV/V'RS'(`&,K^8?WP7H-WEK7T!_P`$5;&/2/\`@K_^T%9V MJ^3:V\?B"&.(#Y8U3780JCV`P/PKIO\`@Z`X\)_!G_K[UC_T5:U-O>L!0T3_ M`(-E=#UC2(;P?%Z\M_MT*3E8_"\14%D!.#]HY'/YY]:_3?X%?#2+X-_"'PIX M3BO&U!?"^C6FC"Z9=KW(MH(X0[#)PS!`2,\$FMCP+_R)VD_]>,'_`*+%:U2` M4444`%%%%`!4<\RPQ%F;:J]2:DK@?&FJW$NMW%N96$4;!0HXXQGF@#8UKX@0 MV;;+?]^V<;OX:Y?5-;N-9D+32-MZ!0>`*IA`%"@8`.0!3J`#;S1110`4444` M%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%&::[X'%`#J M*;&3(O'S'OBKECX]JZFQ^&LSLK7$RKZJO^ M-;NF^$+.P7_5[FSG)[T`<+I^B7FI;5CA8[CC<>`/SKH=/^&@9=UU)N/]U.%% M=;'`L(^50H]`*54V4`5-/T6WTX8CA5??`JV%P:6B@`HHHH`****`"BBB@`HH MHH`****`/C__`(+O_P#*,/Q__P!=],_].%O3?^"#)_XU>^`?^OS6?_3K=U[G M^V+^RYHW[9G[/VM?#SQ!J&KZ7I.M/`\USICQ)%)VE2.2-5)FBD7;MD M8\+UQS7=_!+X+V'P.^`/A_P#IMU?76F^&=(BT>VN+LH;B6*.(('(-<\8:7JW@7R!86 M^ER6RVMP8KH7*>:)878Y8$':Z_*>QYKU[X__`+-G@[]JSX77_A'Q]HD&NZ)> M.LABDS&\,J/`MGXF\&ZUIOB'0 M-2C66VNK-]^`_@WX)?LN>-OA]::M8Z MQX]\<:5VMIHFCN;B?9S"JVYE91]XL,@$!ROE^O?\`!MEX+M_$ M/M#TVXD#26CVMM=2%>F/-'E[L#HS*2,D\YKV_P"!W_!%;X,_`/X: M^+=%TJUUR\U[QKH]WH&H>)[^>.YU.WM[J!H93;AHS!"Q21AD1$G<0Q9?VC/IKW_I]CK[\ M_88_8E\/_L"?"'4/!OA/5O$FM:;?ZO)J[3ZT8)9Q+)%#$5!ACB&P+"AY7=UY MKF/V5_\`@F9X1_9*_:5\,R^>J*P?SH)=W$:X"[3UYI1]UW0' M%_\`!5']C?5OVQ_V!H]-\-VS7GBSPPEIXAT>VW[?M\D,#));#K\TD,D@7&`9 M%BR=N:\2_P""+W_!4[PMJGP9T?X/?$+6(/#/BWP>!I&CW&JR"T@U>TC^2&#S M&"HMS%@0^6^UW54(+OOQ^DNB:95`4$\`9./3%?)_[ M;'_!&'X-?MD^);CQ%>Z=JGA;Q=?;C=:QH4J0_;2>]Q"ZM%(>Y8*LC'&7X!#; MNN425CZ.^)WQM\(_"/PA)KWB3Q1H>@Z/;*9)+N]OHX8B,'`!)^8D\!5R6)`` M)KP7]B;_`(*I^!?VY_CGXR\'^#['Q-Y/A=1<6^JW-FWV/5+?(0OPN;9C)G9' M-M9T&<`AT3YG\*_\&SG@>TUF.3Q%\3/&6L:=`?DMK*Q@LIG7N#*[3`'&1E43 MVP>:^^/V<_V5?`O[)/PVM_#7P]\/V_A_386\V0(SS3W,\JRR1DJRGL0<5^<7_!>;]OGP6?@)J'P= M\,ZS8^(/%'B"[M)=733I1/'HMG#.DV9G0E5DDD2-!&3D*78A?EW,'_!M;X3T MS4632_BY\0;'0I7!-BEI;-/@_>_>@+&6]S%^!X%>W:+_`,$5?@SX4_9L\2?# M;0[7Q%I,'BYK5M6\0)-'+K=VL%PEPB>9)&T4<9>)242-5.02N[FB-MP+G_!" M08_X)?\`P\'<2ZGG_P`&-S7R7_P;&#/CKXY?]>NB_P#H_5*_2+]CW]F/1_V- MOV?-(^'OA^_UC5M)T%[AH+G5#&;J;S9GF;<8TC3[TC`84<`=>I\V_P""?'_! M,GP;_P`$^-5\77OA77O%NM3>,([6*[769+=EA%N]PR&/RH(R,FX?.XMP%]R3 MF8'TS7$_'WQ_K'PF^$WB;Q-HOAO6/&6J:+82WEGHFFE?M&HR*HQ&@)!/%?M<_\`!)[X)_M@ZI-JGB3PO+IOB28?O-;T.#_#OPA^'>I6GCC6)->BU:]N-%D^TPQ2K$\%O:)+&"LL MTK7).V,L5\M5."P%?3_QO_9`US3_`/@B-?\`PM\A[CQ%H7@F"XFMHF!:6]M6 MCO984(/+&2-T4`[22.<)/%=JK+;ZUX@ MN5N)K+=G<8(XU2&(G+#<$W_,?GY.?JM;5(;1HE5=F"-I&0$'FM;."^N$M_P"V+1Y6FC:`MM5V3S&C:,9<")6Q MALU]7?MB?M[_``W_`&./A??>(?$OB32WOK>%I;'1;>Z234-7D"MMBCB&6PS# M!D("(/F8@"OFG]I7_@WG^$/QM\6WFN>&=2\0?#N^OW::>TTZ..YTT2$DEX[> M3_5!FY\N-U09("J#BM3]E#_@@A\(_P!F[QU9>*M:O-=^(FO::Z3VHU:**'3[ M>=1\LWV>,#S&'4"5Y%!YV[@I%:-W8'R3_P`$$?$FK>,_^"I_Q+UK7H6M]>UC M0-;O]4B9#&T5W-JUE).A4\J5D9Q@\C&#S5K_`(.0+.\U']M+X:6^FK,^HW'A MB*.T6)MLC3'49!&%/9MQ&#ZU^@'[-'_!,3P?^S/^UWXT^,>DZ_XPOO$7CMM2 M:^L;^6W>PM_MMZMY)Y6R%9/E=%5=\C$KG/K7PW_P7KEV_P#!2?X%[2NY;+3< M=#S_`&R2./P/7T-5&5Y`?9/_``3H_P""IW@O]K+P%9Z/XDU>Q\*_%C25%CKV M@:F_V.::[B_=R2VZR8W*S*28QEXFRK#[K-ZS^T_^VK\-OV4O`%UKWC#Q;I^G MK;JSP6-O,LVI:BR_\LK>W!W2.20.FU>(KN MUU/PAXPO/^/K5M#9%%^PQAKB"16BD88^^`KL,98X7'B?PT_X-K_AIHOBC[=X MP\;>,O%EJL@=K.*&'2UN`,';))'OEVGIF-XV`/!!P1+Y0/(O^"3O@SQ-_P`% M`O\`@IIXL_:1\1:=)8Z#HMW--;G=O@-\]L+:VLT;`#-;VK;G('#"$DYDQ6#_ M`,'%=EJ5Y^WA\-[71UN)-9D\*VB6"P+NE\\ZG4QQ^F:_8#X3_"+P MY\%/`NE^'/"NC6/A_0](B\FTL+-/+@@7O@=R2,ECEB222237Y1_\%SL/_P`% M7_@&#SBUT3;R>/\`B=S9P.E/G9+C<^TO^"=W_!4KP1^U[X$L],UO5M/\+?%+ M346UUSP[J,PMIVN47$DENKD>9&Q!.%RR'(8#`)]4_:A_;5^&O[)O@"ZUWQGX MKT^Q\F-I+;3[>99M1U)QR(H(`=SLQP,XVKG+%0,CQG]MG_@BY\'_`-LCQ5=> M*)X-6\'^,+Q_-NM3T-D"WTG'SSP.K1NY`Y=0CMQN8X&/&?A;_P`&V/PP\,^( MH[_Q?XS\:>+K=&&^SA2/38[A`)OV MY_\`@I?XR_:3\1:7)8Z#I5W=S6DF_=']KFC^S6]DA(`D$%HS%Y%XW)%Q^\-: M7_!PEQ^VI^SSZ8_]R-M7ZF?"[X5>'O@[X#TOPYX7T;3_``_H>DP""UL+&$10 MP+[#KDG)+'EB222:\*_;8_X)E>#?VX?BOX*\6>)==\8:3?>!1_H,.D26RP7) M\^.;][YL$C?>C`^4KPQ[X*G.[W`P_P#@L_\`LC:G^UW^Q1JFG^';62^\5>%+ MM/$.DVD:AI+]H5=9;=/]IXGDVCNX0=Z\D_X(L_\`!3KPC\4/@=X=^%_C+Q#9 M:#X\\&VPTBTBU"Y,":W:Q?+`8FDQNF2/"/$3OS'NP1G9^AGE"X3YL_3.*^// MVR?^"*'P:_:^\5WGB*2SU/P7XIU!BU]J.A.J1ZBQZ-/;R*T+-GYBZ!'8GYF8 M@8%+H!]0_$3XN^$_A+X3N-<\3^)-%\/Z3:IYDEYJ-\EM"HQD?,Q`R>P&2>P- M>%?L;_\`!3WX>_MR?%+QMX8\%_\`"02_\(CMECOKK3WAM=2MB53SXGQF/,F= ML/ MF9CC``P`!1*W0#\Q_P!J;_E8_P#`G_7]H?\`Z1O7Z_1?ZM?I7R_\0_\`@E]X M/^(W[=)%#&(U+E0%+%5&=H`S0U?0# M@?\`@H9_R8-\;_\`L0->_P#3;<5\=_\`!MA:)J'[&/Q&MY8Q+%/XSFC="?OJ MVG6((]L@XS7WU\<_AE:_&[X.>+/!6H37EOIWC#1[S1+N:T*BXAAN8'@=XRP* MAPLA(W`C(&017E_[!O[!GAO_`()^_#C6/"GA;5O$NM:?KNJ'5YYM9D@DFBF, M,4.U##%&-NV%3RN>O-$=%9`?FO\`LD_%2;_@BC_P44\:?#WQ]'?6OPV\7;([ M;5EB9HX[<2L;#4#M!W1A)&AEV@E'?@80@_L+X,^)/AOXA>%X-KQ6K&:QNXY&M[[ M392,;X)TPR$]UR4;HRL.*^%=>_X-G/"4^KW`TGXL>,+'1YIM[VEQIEO<2L#S MS*C1J2!P#L^H-7=/<#Z,_:)_X+$?!GX`?&?P[X(;7KKQ1JVK:@ME?CP['_:" M:,'^53*4SO?>0/(A#RX.2HP`WFO_``<6MO\`^"?MB?\`J<;$'Z^5=`UZA^Q3 M_P`$@OA!^Q5KT&O:/9ZMXD\6PH4BUO791/-:;A\WV>-52&#=U+*F_G&['%>A M?MP?L5>'?VZ?@S'X$\2ZCXATG2X-3@U1;C1Y8([@21K(H&9HY$VXD;(VYZ?C M-[`8/_!)/_E&S\&O^Q:M_P";5]#S?P_4?SKB/V9_@;IO[,_P*\,>`='NM0OM M)\)V":?:7-\R&XG1>RCZ5VMTQ5/EZ]>F:+ZW`_([_@C/_P`ID?VB M/][Q)_Z?H:ZC_@Y\TB[N?A[\(+Z&WDDMK?4M4M6EQ^[6>2WA>.,G^\RQ2$#N M$;TKZR_96_X)A>#OV4OVHO&GQ6T77_%^H:]XZ^W&_L]0DMFL;?[5>"[D\H1P MHXPZJHW.QQ^=>M?M.?LQ>#OVN?A#J7@OQQIG]IZ+J&)%V-Y<]I.F3'/"^/ED M0DE2`?BI^SWH'C#3?%WAUM%FTJ"::9]0CC%B1$O MF1S;B#&R-D,'P1CFO4-%UVS\1Z5:WVGW,-Y97L*7%O<0MOCGC=0RNK#@JRD$ M$<$&OS33_@V6^&4_BN2XN/B!X[FT=G$AL_L]HMPW)^4SE#D!3M!\L'ODDDG] M&?AQX$L?AEX'T/P[IOG_`-G^'].@TRT\Y]\@AAC2--QXR=J#)QUS2`W:***` M"BBB@`KSGQA_R,]Y_OK_`.@BO1J\Y\8?\C/>?[Z_^@B@#-HHHH`****`"BBB M@`HHHH`****`"BD+8'44!\GV]>U`"T4TOS_>_$?UH:.27[LXJQ#X4U2X'RV[;?6@"K1FM.V\"Z@\OS1[3_M'_P"M5M?AS=,=K2JH M/$_[R[J`/.$M)I&.V&9L=2%XJY:^%=0OON0,O M^_Q7HEO:);K\JJ/8#@5+0!P]C\-;I_\`73+&._&ZM2T^'%E&1YFZ3;SGIS72 M44`4[;P_9VJX6"/Z[:M1H(UVC`'8`4ZB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BAFVJ3Z(]2U"ST_4K&^O-)F%M?06\Z2R64A7<$E523&Q4@X;!P1Q0!JT444` M%%#-M&::)%8'';@T`.HJM-JL5O"TDF^-54N2Z[0``2+=,\;Z+ M;ZEH]_9ZIIMTGF07=K,LT,RY(RKJ2".#TH`T:^6?VT?^"5?AG]M;X_\`@WX@ M:SXH\0:+?>#(((;>TL8H&@NO*NC[%M=R72 M^874MR[XX(QM!'(!'U+6?K7BG3?#DMJFH7UG9-?3+;6XGG2/SY6SMC3<1NI=,P3)VD@GMP<']01 M^!H`FHHHH`****`"BBB@`HHHH`*\Y\8?\C/>?[Z_^@BO1J\Y\8?\C/>?[Z_^ M@B@#-HHH_P`]*`"BC-6+71;V\&Y+63:>C'H:`*]!.*WK3X=WLH5II(XP>P'( MK2M/AS;QL&FE9C_GVH`XW>"?\*D@ADN3B..1O^`UZ);>$-/M""ENNY3D&KZV M\:=$7ZXH`\X@\+:AHH`S8_"UC&05M8L@8RRY-7(M/A@^[$BX M]JFHH`:(E'\*_E2[!G_Z]+10`;?\YI`H%+10`#BBBB@`HHHH`****`"BBB@` MHHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"B MBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`(W#'K7C/ M[1'_``3Z^#/[5OC&QU[XB>`-'\5ZQ86:Z?;W-X\NZ*!7>0(`K@8WR.>F?FKV M:HY3B1.@7USWXQQ0!^<7_!)+_@G%\#OB-^S+X?\`'6M?#?0;[Q9IOBK5VMM2 M8RK+"UGJ]P+4@*X7,8AB"\?P`G)YK3^!'Q/^)'A?]M3]J30?A;\/-*\5:Q<^ M,K74;W4M:ULZ1I.FQ_V;"J(SQQ2RS3R,C`1J@4#YF<8`;VC_`()#^%=4\#_L M3Z?I^L:7J6CWB^)?$$S6]_:R6TRQOJMVZ/M=02K*P*D<,"""012_L/\`A#5- M`_:B_:BOK[2M4L;75O'%G<6$US;2117\8TV!"\3D;9$#!@64G!!!Y!%`%WX$ M?\%"[7QE\"_B-XH^(>@W7PZUKX.W=U9^,M):Z6_6R>",2J\$RJHF66,J4`') M;;D\,>/UG]O?XT?#GX4+\7?%OP/L=-^$:0+J%]#;^*//\5:/IK`/_:$]F;=8 M"JQL'>$3K)$H8L?D(/G_`(F_9)\2?M&V_P"W/X-CL]0TFY\>:QIA\/WE]:R0 M6M]+;V$$D6R1AAX?-B6-G3(7+=3Q7F,?A?X9ZU\,6T+6/A3^UY??$R[M/[/O M_`_]O>))+:6=TVR`WS3&R%JV2/.:3!0[BN,T`?J/H>LVWB7PQ9ZA9SI=6>H6 MJ7$$R9VS1NH96'L00?QKX1M_V+_AA^V#_P`%2_VDE^)/@O2O%W_"/Z/X0_LU MKU9,6C3VE[YN"C+G=Y460<_=&,=_M_X>>#K'X=?#/0_#^DVLEEINAZ9!I]G; M22^<\$442QHC/D[B%4`MDYQG)KXSN/V#?!?[4O\`P4N^/6H?$[P-J&N:/9Z3 MX670;NXDO;*VD9K>Y6Z$,D3HLV/+B#@$[<`'&XY`,_\`9U\(Z'^S7_P4)^(7 MPH^%5]=-\,X_AX==USP\+UKVS\)ZN;F2*)(=[,86FAW,T63_`&!_ MVEOC9X2_X)T>`=0^'?P9TOQ)X0\'Z$8KBYU/Q.+#4M>,#R_:!86T<,BA8W21 M`\SJ9"N5C/`;[6^'7[+W@']F?X5ZEX?^'GA/2?"VFO;2R/;:=;A6NI/+*AY& M.7E?&!N=B<#&<<5YW_P3-\+:IX/_`.";7PQTC5]+U#2]4M?#K1W-GAH`;XK_`."D'A_2_P!DWP'\3]#T?6?%%Y\4FM;3PEX:MFCC MO]7O[D%DMBQRD:Q[)?,E.Y56,L-QP#SNN_MR?%7]G77M!O?C?\,/#_A?P+XB MU&'3/^$B\->*#K4?AV:8GR5U"*2W@*HQ&PSQ[D5MHQ\XKQ#X:?!/X@>#OV$/ MV4_B%HWA#6-:\5?!&[NM3U3PG)9FWU"_L+I;JUNE@C=03=)'*)(TV@L`<8)4 M'K/VM?C==?\`!2?X+_\`"E_ASX#^),,WC:>RB\2:UXB\+7>C:?X0L8[B.XF+ MM.BK-<8A5%AA+!BQ.\[>0#W+XZ?M<>+-/^.J?"CX4^$-/\9^/8=*36M:N=6U M9],T3PS:2.4B:XFCAFD>:5E;9#''N*C?]T>#U\%_ M$SX:Z*-=N=(M]4&H6&KV,D#?@%HMUX+CTUM2O[> M_P#&8@U2^6-6-R;&,6Q1DC*.$:4JTNSB-003UGQV_:1\$?%CX>?LT^-Y/!=I MXUTSXA>.]%/AV74K@VTWAFZG@G:*_5`K!IX2'4H2H)8_,,`5U'[`GA75-`_X M)??#?2-4TW4-,U>W\#0VTUC=6SPW-N_V<@1M&RA@PX&TC/UZGYS\-_##Q1!^ MPW^PWI\GAG7X=2\.^.]!NM5M'TV83:;&B70DEN$V`Q*NX$LX'WA0!]1:[^V4 M?A9^U,_P]^(&FVOA31M=TQ]5\(^)Y+_=9ZU]GB\R]M9PR*MO<0J&D`+NKQ+N M#!ODK6_8]_:8U3]J[PWJWBZ/PVVA>![R]>/PE>W%V9+OQ'9(S*;YH/+46\4C M#,0+.SQD,0O&?#/VU_@SK'_!2OXH77P9ETW5/#/PQ\%LNK^(O$\VE_O-4U9H M'%E::^#?B%X;NO#_C?X<.FB M7\T5@]OI.MPHH6WO[%\!&BEC4$QJZ\#S6=O\0/ASXAL_&/A?[6=MOZ95 M6.&%/OS.&V(@)#,:S;C]M_XI?`;Q=X:7XY?#+P]X5\)^+M3@TFU\1>&?$YUB MVT>ZN&VP07\4#$#'-H;TS/VF_C7=?\%)O`6F?!_X M?>"?B%;V7B34],N?%7B+Q'X8N]%M/#5A;7<=S,`;E%\Z[8PE4C0,N[=E@!D` M'I?Q:_;A^(6F?M>ZU\%?A[\,[#Q7XBLO#UGK\&J:CKYT_3;6*65XY#>$02.@ M7:`@B$C2,WW44%AR'@C_`(*)_&+XD_$/Q!\+=)^"NG6_Q@\'2Y\0Q7WB<1^& MM-M'C22VNTNUA,TQGWC9`L09?F+2`+78?#7P?JT/_!6'XG:U+I.H1Z/=?#O0 M[6WU$PN+::9+JY9XDD*A'9>"0#D9YQ2_L_\`@S5=._X*;_M%ZM=:;J4.CZMH M_AB.RO98'2WNC':3+((W*A7V[L-M)VEL'&<``D^$'[?.M>,O@K\7=2\2>"_^ M$<^(7P1BN1X@\-'4Q-!.\=H;J"2&Y6/F&>-25;9DL>&M/.GWDUJ\<6H"+PW.LGDNP`DV.=I*$@'` MX.:C_9'_`."A%Q\$_P!CSX;^&_%WPM^*4_BC2?"6E0:1;^&_#5SK%GXKMA9Q M?9IK6[B7R4+Q^69(Y60Q.[+\P`-`'O\`X-_:^OOCO^REI?Q,^$_A.Z\:WFLE M([;0+_48M'FAF$IAN8KB9ED6-H'63<`K$^7\N01GDO#O[9OQ.\"_'7P=X)^, M7PQT7P7;_$.::RT#7O#_`(F;6K%[R.(S?8[A'MH'AD:-'V.-RL58<8W#YQ\4 M_LU?$KX2?L)_#FT\3:%XJO-)USX@W/B[XK>&?!TDW]H0V%]+/.UI']G/F3P0 MN\0F2+!<`D<,TN-?\22Z)J6G6)'V2 MX*((KPAY#D%GG"!5PB[V,FV@#Z2U7]N'XI>./VD?B=\+?AK\+='US6/AS>64 M4^M:UXD;3])6"XL8;E&DV6[RF9WDDC6*-67;$79TR%,G@S]LAOC_`/LU_'*U M\=?#W^R/%'PPT_4=.\7^#Y]0%S:WB'3WG1([I5`:&YA.`VW*@GJ"I.M^R%X0 MU31/VS_VIM0OM,U"RL=:\2Z'/I]W-"ZQ7Z)H=JCM$S`!E5PRG:3@@@\UYR/` M&O1_&#]OB3^P]86V\3:1ID6D2?8Y675F7PL(F\@[<2$2?NR$+'G?!3]E'X'_P#"&^`?M7B/XH:1I]MX)\`Z7>I#$A:R2Y>-KIT`BM;:WR9) M?+)"J,*20*T_!'[7WQ"\#_'SPQ\/?C-X'\/>$KKQ_'<#PQK?A[7WU72[R[BC M,[V$PF@AECG$*L5;!24HX7!(%?//QT_9E\1:]^R]^R7XS;POX\URW^%_ARVL M/%?AWP[/=Z7XA%E=:5#%+);&%TF\^WEB0M`#F5=R?+G-:GP$^&7PA^+/[1/@ MN;P?X(_:0\0#PW?'77U_Q=JFNV>C^'[N%',0>/4I%,\K,1'LCC;"L3R!0!ZC M8_MR?%CXN^+OB(WPG^%/A[Q9X8^&?B2[\+7TNJ>,ETO5-6O+5]ES]FA^S21Q MHCAE4SR*).",#-?5/A/4+K5O#5C=7UFVGWMQ`DL]HTJRM:NR@M&77Y6*DE*)TW+;S">R M,ME<12;49_.Y`8JV6`%?5?@3]IG7OAE??`7X=_$31]2O?B%\2-"D&JZC801_ MV;8:G9V,4]XDC;AMWLTFQ4#`A">@S0![Q>C]V_LA/Z&OSR_8Y_:G;]B7_@A/ M\.OB#%H/_"0#2YOL3V"W)MV>.XUZ6W9E8(Y+(LA8+CYBH7(SD?H==C*-Z;#G M\C7YCZ=\)?%4W_!`'P'X9;PMXD_X2*UU[3Y+C25TZ_P`6O@+?^'O$OQ,^#NF^&OA7XAU6VTF34;+Q2M_K/APW M$@B@EU"V\A(AN=D#I#*XBW'YW8*K=O\`M#_M@>)?!'QPTSX5_#3P;'\0/B-? M:7_;=[!>:I_9FE:#8&1HDN+JY\J0YDD1E2)$W,$9N,@'-_X*^^#-4\=_L!>+ M]+T72[W6+^ZU3P^RV=I;O/(ZIKVGO(VQ%9B%C5F;C`5"20`2.3^+Q\0?L:?M M\>(OBP_A/Q+XM^''Q3T+3]+UN[T#3Y=1OO#%]8&18I9+>/,C6LD4A#-&"58? M=[L`>P_LZ_&7XH>-/$_B#P_\2?AFO@C4-#CBGM]6TW5UU70]:]F4Y4=^.OK7SY\,?VV9OBYIWC;7M)^&/Q)M_!_A/2VU&RU+4 M=&?3KGQ-<*LCO;6EE,J7#,`$`D*A69F7C:"WKOP<^(DGQ7^%_AOQ+)I.IZ`_ MB+2K;4SI>I1>3?:?YT:N89D_AD3=M8>H-`'3T444`%%%%`!7G/BM'G\4WBQQ MN[>8.`/]D5Z-4*V,2S&3RTW'J=HR?QH`X&P\%WVH+N\L11]RQP1]!6YIGPSM MX1NN)I),_P`*\"NG*!NH'Y4H&*`*%IX;M+)56.&,[>A89-78XEB'RC'L*=10 M`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`! M1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%% M%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`444 M4`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`&'\3? MA]8_%CX=ZYX8U0W"Z9XBT^XTR[\B3RY?)GB:)]C?PMMYL#+;4&3@9-;U%`!1110`4444`%%% M%``PR*YB_P#A!H.J?%/3_&EUIUO<^)-)LY-/L;V7<[V4$I4RK$"=J%]J[F4! MF``)*@`=/10`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110` M4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1 M110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%% M%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444 M`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110` M4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1 M110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!113=_/>@!U%03 M:G;V[8DFC0^C-BLV]\;6-DY5I"[=@@)H`V:*Y2Y^)2HV(8&<>I.*I3_$:ZF' MRPB/_@5`';,^V@R$#[N?I7G\GCK5'/\`K8P/]VJI'4K=?^6T? MYTW^U+?_`)[1_G7ERO)GYI'/XTA:7/\`K&_.@#U+^U+?_GM'^=']J6__`#VC M_.O+=TW_`#T;\Z-TW_/1OSH`]52^AD'RRQG\:47*.?E96]@:\J66X48$\JCV M?UH`]6\W_`&6_*C?]/SKRQ+ZZ09^T3%NW[P_XU./$ M%\JC_29"WIN/-`'IPHKSM/&FIQ`!9U;CN*FM_'VH1C]XT;>P7K^-`'?45Q,;&=OEF"C M_:[4`:U%58]:M)1\MQ"<_P"U4T=U'-]Q@WTH`DHIOF#-'F<]_P`J`'4444`% M%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`44 M44`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!111 M0`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%` M!1110`4444`%%%%`!1110`4444`%%%#-M7)H`*,\UEZIXML]*.V25=^/NYYK MG-0^)4UP3]GC\M2<#=][ZT`=K+.D"[I&5%]6.*R;[QK8V"G,WF,.FWG-<-?Z MK=:D^9IW;VJJ(`!W^I-`'4WOQ,D=,00;6]3S6/=^)[Z_;+3/'[*=HK.6':^[ M=^%/H`661ISF1FD)ZECDTT(%-+10`4444`%%%%`!1110`4444`%%%%`!1110 M`4444`%(YPO%+10`V,L1\U$A8?=IU%``IX'T[BF^6OH/RIU%`#?*&<]/IQ4E MM?W$+?++*G'9J;10!=M_$=[;-N$[-_O<_P#UZN1?$+4(F^8PNOIY9S^=8U%` M'36_Q0D!Q):D^]7+?XE6[\RHT:]*XVD9=XH`]`@\;Z?<_=N,$]`<5H6^JV\\ M>Y9XS]6%>7"(*::;=3)NZGL3R10!ZPES')]V16STP:D)Q7E<%_<6W^KGD7\: MFMO$M_$_%S(?K0!Z<#D4A<#O7`0>/M0@;:5CD7_:!JU;_$R2,X>&/'9:S*?:K4/Q'L9#\PD3G'/:@#H**R8_&VG2+G[0J^QJQ'XBLYB MNV9#N&>M`%ZBHH[N.9^++Z^SNF9<]EH` M]$O=7M['_63*"O501FL^S\8QZK?^39HT^TXD)X"5PMI9RZG>K#&))))/]KM7 MH'AKP]'HMD%5?WAY+$S# M+:_OY.W7%7&?X%'`K.V#=GOZTM`!C/7D]S33'E]V:=10`4R.+8>M/HH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`1UWKBDC38*=10`4444`%%%%`!BC%%%`##%E]U.V"EHH`:5P?E M++[BI(;J>`<3-SUIM%`%A-;OHQ\MU(OTJ9/%.I(N/M4GZ51HH`TQXRU#C][N MQZTX>/M0#[<^V<5E4WNVWRX_K49\=7Y_B1?IVK'`Q10!I-X MOU%@?W_7VJ%_$NI.N#>2U3IL88'YJ`))KJXN/O3N3ZU&%_O$L?4TZB@!DD*R M?A3P,+BBF^8N>M`#L5-8:?-JETL,*%F/7_9%3:'X=NM>N/W?RQYY8KT%=WH? MA^'0X!'&N[(^=SU8T`1>&/#<>BVWK(QRQ%:U%%`!1110`4444`%%%%`!1110 M`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`! M1110`4444`%%%%`!1110`$XIK.`I^;&/TJGJVM6^EP%II%W#HHZFN-UOQG<: MN=L>ZWA!X'1C]:`.DUGQQ:Z:"L?[Z7T'2N/U?Q#=:V["21EC/\*MU^M4MO)R M2Q)R2:1(_+H`!$JMG:N?I3J**`"BBB@`HHHH`****`#-%-$>'W4Z@`HILC[, M4Y6R*`"BBB@`HHHH`****`"C.**1QN6@!<\49S30H";&7 M;+>':>H05T.D>&;72H%\I5W_`-\BM!4VGK0`RUM8[2)5C4*H&,`5+110`444 M4`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110 M`4444`%%%%`!1110`4444`%%%%`!1110`44$XK.UKQ+;Z(G[QMS?W1U-`%^: M=8$+.P55&237+>(?':Q[H[)BSGJ_9?I6)KOBFXUMBK96/H`IXK,5`O04`/N; MJ:^F\R:1G?I[4VBB@`HHHH`**,XH)P/K0`44W>,XZ_09JU::/=7Q7RX696XR M10!7HK9,[^HH`XXGG&5'UI/,_V7^N*]"MO M!>GVH_U&]O4U>MM(M[4_+#&/^`T`>:PV4]P?W<,C?0=:M0^&-0G/RVLGU/2O M2!`@'W5'T%.V\4`>=IX)U)SAH54'^\:M1_#F[8?ZR)>/XAN%=SMX_P#KT*@6 M@#B5^&5PY^:XM?PB-2GX8RX'^D1?@"M=E10!R(^&.Y1NN/F[X)H_X5?_`-/% M==10!QS_``O;=\MPOMDG_"D_X5A*?^7B'_@2EJ[*B@#AV^&EQOR+BU_[]&A_ MAK>;?EN+;=[(5/YXKN*"-PH`\]/@'4%/7=CMZ_I4$W@_5`V%MV_.O2-O'_UZ M38/\F@#S/_A&]1@8^9;NHQUJ&6SF@'S1LOX=*]3V#.:0P(W5%/X4`>3AB1G8 M^/I0),GHWY5ZC<:5#BCQZ;:J7'A*QG^];KN/=:`/.PQ%9]SX)U"WZ1^9Z>6.O MUH`S:*G?0KZW;]Y:S+[E:@D/E'YE9?\`@)H`**;YJ_\`ZQ0BN#\P/XT`.HHS M^G6C/%`!10#FB@`HHHH`****`"BB@MB@`HHHH`****`"BBB@`HHHH`****`" MBBB@`HILA8+\HS359BWX]*`)**"<''/Y5-;Z;<7A_=PR-^&,?G0!#03M&:V+ M#P#?7>&9EC7N#VK>T[X=VMK\TC/,WHW8T`<7;6TUZVV*&1V/08ZUN:3\.;FZ M`:XD\M?3O7:6MA%:1!4C5<>@J:@#,TSPI:Z1$OE1AI%_C;J:TP,"BB@`HHHH M`****`"BBB@`HHHH`*^&_P#@Y#^+7BKX&_\`!&CXO>*/!/B;Q#X/\3:8^B_8 M]7T/49M/OK7S-:L(I/+GA973=&[H<$95F!X)%?<8&20*`/B_] MJ+X/?%;_`((;:U\(_CKI/[3WQV^,G@75?%>F>$?&_@SXB:Q)XA6_T_4&S)/8 M;Y(TANXO*S$3M.[&Z7RS)#+[1JW_``<7^`](_:4D\-K\+OB7/QP/AM)\ M5TBM_P#A&5UPSB%E,C/L^RK]XSB3)0%EB(QGCM6_9+_;4_X*>>/_`(:^&_VD M_"/P;^%?P7^''BK3?%^J:?H-_+JNI>+I;,R&*R_ULB+`3\LA=D($H9?,*[1\ MY?"/_@W:^+'P7_:8D\)7/P2_9K^)'PZU#QI/JX^)OBB[U&;6+'1Y)FD$,EE; MW5KNNU1`%"(8_-E`+^7ND0`^SOVY?^"_GAS]C_X\>,/!GA[X/?%+XNV?PGBL MKCXDZ_X9MU;3O!RW6QX49VR))C$9&96,2@IM+DB0Q:/[:'_!>#PU^R_\5+7P MCX4^%/Q0^,FH6/A6W\>>*3X8L50^$=$F&X37:2`2).(L2&&01X1HR77=\ODG MQT_85_;2_9+_`&TOCQXP_93/PSUC1?VFKS3M2OM8\37`BO\`P'>VVZ)W6)LQ M3PLMQ,ZD13-A0#'N0>=YK_P4H_X(B?&[Q]^V[K?QJT'X9_`[]I*Z^('A72], MURP\6W%UHL>C:U96D=K)?6D$=S'BUE6"-A&US+(#*Z$@*KD`^E/CG_P7[\,_ M#_Q7\&]*\"_";XC?%R;XZ>`G\;^&;3PT(I[]B4=ELI8$W['0QD3L)&$`20D2 M%-I\KU#_`(.L/A^OPO\`#OC.U^"/QHF\+V6HPZ/\0M4ETT0VGPYO7F\G[-+( M%(N)=HDD51Y>5>%3ME?L;_\`!67]MC27\#_'+XZ:#H)\(W>F>'O#[SWNF>#- M/71FGU"Z`-A&BJ9F#DD>66'L'Q5_X../A_;^$_`-Y\)/AC\3OCIJG MC3PD_C^\TKPW91^?X7T2.:6VGEO64R!9X[F*2!HD+*#&>K M1NP\X7*LJN4X^;_&O_!M#\7/V:],^%NI>$_`/P;_`&DFT?P"OA;Q'X?\8:K< MV4-AJSW]WJ$M]8O&UKOMD:80(9'$K*S$Q@,3&`?=GQ*_X+U^'8!^S>?A?\*_ M&GQ:F_:=TK4-0\,V6FZC96=Y:7%HJA[6Y$DC0(R2EHYW\[;`(9FR^S!^EOCW MIWQB^-W[#>LQ_#5M)^%?QJ\3>&X6L$U^?[9;^%M0G2,S122VZR(\D`::-98U MD02(K;64;3\A_#+_`()7?$;X4?M;_L&Z]9^$_`.C^&?@7H7B^+QI'X4GDM]) MTF]U:QGVI9PW1NLL8D)CEQ%(4\J1EC9Q'*Y4%@*`/S-_X)$_$3XN?# M+]O']HCX?:'\;/'?[47A/X6^!?+UJ'QCK+17,7Q!M9EAGTVP>];SDLGDBO%\ MY4\A/,A5VD*)++UW_!(_XW_M'>+_`/@LS\?/!_[07BZUO-8T3P+HVIQ^%=!O MISX9\,M=&"<0VT+,5:9(Y0DD_P`S.V\>8R[2>H_82_8B_:K^*/\`P4I\,?M" M_M.6OP]\*7/PT\!S^`]-M?"FHO<7/BJ1GW&^NAAD$#>=.X0.CK(L?[L`$GUC M]GW]BSX@_#?_`(+@_M"_'#5--LX?AW\0/"&B:3HU\M_$\T]Q;16J3*T(.]-I MB?EA@X&#S0!]N5^)?_!3CP!^U-^RGJ&J?&;5OVK-;L_C)XL^)EGHGP7^$OA; M4YI/"_B33)KR*&*PN-/DCA66X2*X9I971XQY48,KR3QF/])?^";/[5'C[]JS MPE\4[SX@:%X8T:Y\%_$;5/">CS>'[A[JPU73[6*V9+@3%W6202RSPR^6=J2V M\D9"O&ZCX*^)?P8_X*!0?\%'O&GQJM?@?\*/B3'H\UWHWPP'B;Q5'''X+T=I M'1I+.VBN(TCO+R,1M/:X*22NJJK/')(J]9^VM_P2+_:8U+XX_'WPS\%7\`V_PA_;'DTF\\;: MGJLI.H^`[J%@-1:&*1V-TMR#*X"GY?-*((?+65O>_P#@L-_P32\7?'[_`()5 M^$_@7\&-&M=0F\%ZAX=MM/M+S4EMP+#3E\GF6=CDK&J?>=F;GDGJ`=!_P6]_ M:[\6_`C]FB^^'_PHOI-/^,GQ)TC6IM$OP\D:>'M+TVT:]U74GE0%HFCME\F! M@-PN;F#;T('5_P#!";XC>(?BU_P2=^!_B3Q7K^N>)_$6L:!)/?:IJ]]+>WE] M(+N9=\LTK,[L%"C+$\`#H*\O_P""H?\`P1(OOVV/B;XV^*GA3XP?%SP)XWU3 MP+)X4AT7PUK:Z7IFNQQ"XDAM+ML;FMYIIL2*QV8+'`SFO2/^"&7[$7C3]@#_ M`()Y^$?`/Q`U;7=0\5+)/?W]E?ZLNHV_A]G*HMC9LI*K:JL8D5%)`>:4Y^8T M`?85%%%`!1110`4444`%%%%`!1103@4`&:9-.L$>YC\M4=9\36VBP%I&W-V4 M=2:XC7?$]UK0G)-) MBB@`HHHH`***FL]/N-0?;#$SY/7H/SH`A/2F0LTKA=K%CZ"NITWX;O-AKJ7: M/[@'_P!>NBTWPQ9Z7_JXP3ZMSB@#A;+PE?:J/EC,:Y^\PZUN:=\,E$8^T2LW MJH/%=<.!10!GZ?X9L]/7$=N@QZC.:O+&J#Y5"_04ZB@`HHHH`****`"BBB@` MHHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`IK1!AW_`XIU% M`#/(7/3/U.:9+IMO-]Z&-O\`@-344`9L_A.QN<[H1SZ53NOA]IK@^7&T3-QD M-FMZB@#DY?AI`_"W4B^V*JR_#.:-,1W".#ZBNVHH`\_E^'VH6V=HA8?[+9JI M/X7U&#K`6QZ"O2Z*`/+3I-VJY:UN/?Y./SJ.2"2+.8W7CH1FO5#&&.3S]:C: MPA8Y,4>?I0!Y2LN#\U.#J3QG\:]0;1K5SDV\.?\`B+"JMG:!VXIU`'"V_P[O9#^\DA4>S M9-:5M\-(8\F21I-W5>QKJ**`,RQ\(:?8CY;=,^_S5H"W1?NJ%^@I]%`"*NVE MHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BB MB@`HHHH`*1EWJ5/0\&EHH`KZ;I5OI%N8K>*.&-G>1E10H9W8N[$#^)F9F)ZD ML2>2:L444`%%%%`!1110`4444`%%%%`!1110`44UFX/K67K/BNWT1/F;S)/[ MBT`:5Q*L:EF9551EB3@"N7U[Q^L68;/:^[K)U`K#UKQ/QP*`*[OL'>K M.G:-IH`<5!["@N*P-6 M^(5K8J5A#7#CCY>UU`'>W6J6]BA:::.,#U:LB]^(-A`,Q ML9<^G>N#D>2XDW3,S_4G'Y4OE*P^[0!U%S\2S*A\FWQS_$:IR_$6^N,A/+6L M4#:*15"]*`-.7QAJ$N/WQ'TJ-O%.H;_^/AL?4U1HH`M'7[[S=RW4WTW'%/7Q M1J(;_CX;\S5*B@#07QIJ$12..N?YT`>G@Y[&EKS^R^(=]9 M;5D59E[GOCVKN*`'4444` M%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4 M444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!11 M10`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%% M`!1110`4444`%%%%`!1110`4444`%5=1U:'3(F:5@N/U]JM5YQXQ+-XFN@S, MRJXVCTRHH`OZY\09[T[+16B7."QZBN?F+7#LS,S,QR2>YHQ10`4CMM6ES1;J MUU-LC5F.<<#O0`B-E>:=8VT^I2F.&/,=*Z'1?AY)W MTN!8X8D55Z<4`S=:U-+\97^GL!YQ:,?PL,@5GT4`=78_$N,. M%N(&4GJ5Z+6[8^)K/4%_=W$98]NXKS5TW#TH4%,;25]2*`/6$?71++:>9G.YS[UI(NT4`.HHHH`****`"BBB@`HHHH`**** M`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH` M****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`H MHHH`****`"O.?&'_`",]Y_OK_P"@BO1J\V\6[I/%5ZJ_,?,48`_V10!0)P*C M(:5_EW?3%;FD>"+K4N9/W<9[D8)KK-(\*VFEH"(U>3^\PH`Y30O!-SJ15IOW M,7?(^9O\*Z_2/#MOHJA8X]W'+MR:O>6!CVZ4Z@!-H]!^5+110`4444`4]6T> M+68A'-OV@YP&QFJ(\"::K`^2QQVW5M44`97_``AMA_SQ7\A2CP;IX/\`J5_% M16I10!CMX%TYFR83^!Q4,GPZTURQVS#/I(:WJ*`.7G^&<+G]W*R^F><55G^& M$BQ_N[H?0C^M=E01D4`>>3>"-0M\_(LB^H:J$VE7%J?FMY%]2%X%>I8YIK1J MZE652#U!'6@#R=I55L9&:/,`/7\J]+O/#=E=+\UO&&]57FL34/AI#,-UO(8F MZX(H`Y&BM:\\#:E9;F"QS+[&LN2&2!MLD;HPZ@CI0`VBFELK\O-"%L?-0`ZB MFR%A]VG#I0`4444`%%%%`!1110`4444`%&W%%%`$_-26]U):IF.: M2/W5B*1EWBC9\NWM0!HVOC'4;4?N[C*(RQ^]0!V=M\1X)6_>0R1^^[-78O'>FNRC[1C/\)!S7`_YY%&,]S],\?E0 M!Z4GB2R:`/56U&%?^6L?_?0J M-]9M8_O31C_@5>6_9(\_<6G+$%7`Z>@-`'HEUXNL+?.ZXZ>E4[GXCV*#_1V: M8^G-<+]G7TS]32R[@!R3]30!TM[\2;B1#Y,8A]V^;-8]]XDNM1_UMQ)GT5BH M_*J(W.?F^Z?2G)!YLBQJ"TC<*!R2:`!8VN)0(P2S'''4UW'@WPFNFP^=/AKE MN_9?85'X.\'BP19YUW2$@@'C;73=*`&H-JTZBB@`HHHH`****`"BBB@`HHHH M`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@` MHHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"B MBB@`HHHH`****`"JJZ-;BZDF,:M)(H!MJ>3(?XA6Y10!P>K_#Z[L_FA;S$7J:Q;JSFM1B2-T8>JD9KU8C-17%E% M=KB2-7^HH`\ICD^4I^`;&]A7NGMMFMG'^TH+55F5HARK*?<4`%%-1\KDT>:H_B7\Z`'44$XH# M`]Z`"B@MBC''?\J`"FX;S/\`9H$R,Y4@5LZ9\-[B4JT[^3ZH.?UH`YK6 M8_=3S5&;X:VH;]W/=+GG&^NFHH`Y%OAIQ\LV#^=1M\-)`O%PH^JUV6,4$9H` MXU/AI(WWKA6^@J9/AE`Q_>2-M_V376`8%&*`,"V^'EC"!EII%]&;BK\'ABQM ME^2W08Z$\UH44`,C@6(?*JK]!3Z**`"BBB@`HHHH`****`"BBB@`HHHH`*** M*`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH M`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@` MHHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"B MBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`*** M*`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH M`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@` MHHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"B =BB@`HHHH`****`"BBB@`HHHH`****`"BBB@#_]D_ ` end