Form 10-Q

Table of Contents

Table of Contents

Table of Contents

Table of Contents

Table of Contents

Table of Contents

Table of Contents

Table of Contents

Table of Contents

Table of Contents

Table of Contents

Table of Contents

Table of Contents

Table of Contents

Table of Contents

Table of Contents

Table of Contents

Table of Contents

Table of Contents

Table of Contents

Table of Contents

Table of Contents

Table of Contents

Table of Contents

Table of Contents

Table of Contents

Table of Contents

Table of Contents

Table of Contents

Table of Contents

Table of Contents

Table of Contents

Table of Contents

Table of Contents

Table of Contents

Table of Contents

Table of Contents

Table of Contents

0001193125-15-119055.txt : 20150403 0001193125-15-119055.hdr.sgml : 20150403 20150403165951 ACCESSION NUMBER: 0001193125-15-119055 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 11 CONFORMED PERIOD OF REPORT: 20150228 FILED AS OF DATE: 20150403 DATE AS OF CHANGE: 20150403 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SKYLINE CORP CENTRAL INDEX KEY: 0000090896 STANDARD INDUSTRIAL CLASSIFICATION: MOBILE HOMES [2451] IRS NUMBER: 351038277 STATE OF INCORPORATION: IN FISCAL YEAR END: 0531 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 001-04714 FILM NUMBER: 15751779 BUSINESS ADDRESS: STREET 1: 2520 BY-PASS RD STREET 2: P O BOX 743 CITY: ELKHART STATE: IN ZIP: 46515 BUSINESS PHONE: 5742946521 MAIL ADDRESS: STREET 1: P O BOX 743 CITY: ELKHART STATE: IN ZIP: 46515 10-Q 1 d897846d10q.htm FORM 10-Q Form 10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-Q

(Mark One)

x	QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended February 28, 2015

¨	TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to

Commission file number: 1-4714

SKYLINE CORPORATION

(Exact name of registrant as specified in its charter)

Indiana

35-1038277

(State or other jurisdiction of

incorporation or organization)

(I.R.S. Employer

Identification No.)

P. O. Box 743, 2520 By-Pass Road

Elkhart, Indiana

46515

(Address of principal executive offices)

(Zip Code)

Registrant’s telephone number, including area code:

(574) 294-6521

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. x Yes ¨ No

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). x Yes ¨ No

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check one):

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). ¨ Yes x No

Indicate the number of shares outstanding of each of the registrant’s classes of common stock, as of the latest practicable date.

Title of Class

Shares Outstanding

April 3, 2015

Common Stock

8,391,244

FORM 10-Q

INDEX


		Page No.
PART I — FINANCIAL INFORMATION

Item 1.	Financial Statements

	Consolidated Balance Sheets as of February 28, 2015 and May 31, 2014		1

	Consolidated Statements of Operations and Retained Earnings for the three-month and nine-month periods ended February 28, 2015 and 2014		3

	Consolidated Statements of Cash Flows for the nine-month periods ended February 28, 2015 and 2014		4

	Notes to the Consolidated Financial Statements		5

Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations		18

Item 3.	Quantitative and Qualitative Disclosures About Market Risk		33

Item 4.	Controls and Procedures		33

PART II — OTHER INFORMATION

Item 1.	Legal Proceedings		34

Item 1A.	Risk Factors		34

Item 6.	Exhibits		34

Signatures			35

PART I — FINANCIAL INFORMATION

Item 1.

Financial Statements.

Skyline Corporation and Subsidiary Companies

Consolidated Balance Sheets

(Dollars in thousands)


	February 28, 2015		May 31, 2014
	(Unaudited)

ASSETS

Current Assets:
Cash	$	4,933	$	6,031
Accounts receivable		13,089		16,259
Note receivable, current		—		50
Inventories		9,307		8,627
Workers’ compensation security deposit		2,137		2,688
Other current assets		753		542
Assets of discontinued operations		492		7,473


Total Current Assets		30,711		41,670


Note Receivable, non-current		—		1,581

Property, Plant and Equipment, at Cost:
Land		3,586		3,586
Buildings and improvements		39,720		39,254
Machinery and equipment		16,976		17,238

		60,282		60,078
Less accumulated depreciation		47,019		46,036

		13,263		14,042
Assets of discontinued operations, net of accumulated depreciation		—		1,911

		13,263		15,953

Other Assets		6,892		6,550


Total Assets	$	50,866	$	65,754

The accompanying notes are an integral part of the consolidated financial statements.

Item 1.

Financial Statements — (Continued).

Skyline Corporation and Subsidiary Companies

Consolidated Balance Sheets — (Continued)

(Dollars in thousands, except share and per share amounts)


	February 28, 2015			May 31, 2014
	(Unaudited)

LIABILITIES AND SHAREHOLDERS’ EQUITY

Current Liabilities:
Accounts payable, trade	$	1,640		$	3,050
Accrued salaries and wages		1,594			2,255
Accrued marketing programs		3,606			2,526
Accrued warranty and related expenses		3,722			3,697
Other accrued liabilities		2,888			3,695
Liabilities of discontinued operations		338			3,024


Total Current Liabilities		13,788			18,247


Long-Term Liabilities:
Other deferred liabilities		7,171			7,386
Life insurance loans		6,334			6,334


Total Long-Term Liabilities		13,505			13,720


Commitments and Contingencies – See Note 9

Shareholders’ Equity:
Common stock, $.0277 par value, 15,000,000 shares authorized; issued 11,217,144 shares		312			312
Additional paid-in capital		4,928			4,928
Retained earnings		84,077			94,291
Treasury stock, at cost, 2,825,900 shares		(65,744	)		(65,744	)

Total Shareholders’ Equity		23,573			33,787


Total Liabilities and Shareholders’ Equity	$	50,866		$	65,754

The accompanying notes are an integral part of the consolidated financial statements.

Item 1.

Financial Statements — (Continued).

Skyline Corporation and Subsidiary Companies

Consolidated Statements of Operations and Retained Earnings

For the Three-Month and Nine-Month Periods Ended February 28, 2015 and 2014

(Dollars in thousands, except share and per share amounts)


	Three-Months Ended						Nine-Months Ended
	2015			2014			2015			2014
	(Unaudited)						(Unaudited)

OPERATIONS:
Net sales	$	38,109		$	30,169		$	137,380		$	107,040
Cost of sales		35,771			29,390			125,843			98,851

Gross profit		2,338			779			11,537			8,189
Selling and administrative expenses		5,159			5,010			15,347			14,361
Gain on sale of idle property, plant and equipment		—			300			—			462

Operating loss		(2,821	)		(3,931	)		(3,810	)		(5,710	)
Interest expense		(92	)		—			(279	)		—
Interest income		2			25			50			75

Loss from continuing operations before income taxes		(2,911	)		(3,906	)		(4,039	)		(5,635	)
Benefit from income taxes		—			—			—			—

Loss from continuing operations		(2,911	)		(3,906	)		(4,039	)		(5,635	)
Loss from discontinued operations, net of income taxes		(86	)		(1,806	)		(6,175	)		(3,669	)

Net loss	$	(2,997	)	$	(5,712	)	$	(10,214	)	$	(9,304	)

Basic loss per share	$	(.36	)	$	(.68	)	$	(1.22	)	$	(1.11	)

Loss per share from continuing operations	$	(.35	)	$	(.47	)	$	(.48	)	$	(.67	)

Loss per share from discontinued operations	$	(.01	)	$	(.21	)	$	(.74	)	$	(.44	)

Weighted average number of common shares outstanding		8,391,244			8,391,244			8,391,244			8,391,244


RETAINED EARNINGS:
Balance at beginning of period	$	87,074		$	102,563		$	94,291		$	106,155
Net loss		(2,997	)		(5,712	)		(10,214	)		(9,304	)

Balance at end of period	$	84,077		$	96,851		$	84,077		$	96,851

The accompanying notes are an integral part of the consolidated financial statements.

Item 1.

Financial Statements — (Continued).

Skyline Corporation and Subsidiary Companies

Consolidated Statements of Cash Flows

For the Nine-Month Periods Ended February 28, 2015 and 2014

(Dollars in thousands)


	2015			2014
	(Unaudited)

CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$	(10,214	)	$	(9,304	)
Adjustments to reconcile net loss to net cash used for operating activities:
Depreciation		1,034			1,304
Reduction in inventory value of discontinued operations		901			—
Gain on sale of assets associated with discontinued operations		(670	)		—
Gain on sale of idle property, plant and equipment		—			(462	)
Change in assets and liabilities:
Restricted cash		—			600
Accrued interest receivable		—			1
Accounts receivable		7,642			(1,723	)
Inventories		928			(2,502	)
Workers’ compensation security deposit		551			—
Other current assets		(211	)		(32	)
Accounts payable, trade		(3,382	)		118
Accrued liabilities		(1,077	)		3,400
Other, net		(516	)		(527	)

Net cash used for operating activities		(5,014	)		(9,127	)


CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from principal payments of U.S. Treasury Bills		—			30,998
Purchase of U.S. Treasury Bills		—			(28,999	)
Proceeds from note receivable		1,631			35
Proceeds from sale of assets associated with discontinued operations		2,331			—
Proceeds from sale of idle property, plant and equipment		—			958
Purchase of property, plant and equipment		(178	)		(649	)
Other, net		132			221

Net cash from investing activities		3,916			2,564

Net decrease in cash		(1,098	)		(6,563	)
Cash at beginning of period		6,031			11,838

Cash at end of period	$	4,933		$	5,275

The accompanying notes are an integral part of the consolidated financial statements.

Item 1.

Financial Statements — (Continued).

Skyline Corporation and Subsidiary Companies

Notes to Consolidated Financial Statements (Unaudited)

NOTE 1

Nature of Operations, Accounting Policies of Consolidated Financial Statements

The accompanying unaudited interim consolidated financial statements contain all adjustments (consisting of only normal recurring adjustments) necessary to present fairly the consolidated financial position as of February 28, 2015, in addition to the consolidated results of operations and consolidated cash flows for the three-month and nine-month periods ended February 28, 2015 and 2014. Due to the seasonal nature of the Corporation’s business, interim results are not necessarily indicative of results for the entire year.

The unaudited interim consolidated financial statements included herein have been prepared pursuant to the rules and regulations for reporting on Form 10-Q. Accordingly, certain information and footnote disclosures normally accompanying the annual consolidated financial statements have been omitted. The audited consolidated balance sheet as of May 31, 2014 and the unaudited interim consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Corporation’s latest annual report on Form 10-K.

Certain prior year amounts related to discontinued operations have been reclassified to conform to current year presentation.

The following is a summary of the accounting policies that have a significant effect on the Consolidated Financial Statements.

Accounting Estimates — The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions. These estimates and assumptions affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, as well as the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Key estimates would include accruals for warranty, workers’ compensation, marketing programs and health insurance as well as valuations for long-lived assets and deferred tax assets.

Revenue recognition — Substantially all of the Corporation’s products are made to order. Revenue is recognized upon completion of the following: an order for a unit is received from a dealer or community (customer); written or verbal approval for payment is received from a customer’s financial institution or payment is received; a common carrier signs documentation accepting responsibility for the unit as agent for the customer; and the unit is removed from the Corporation’s premises for delivery to a customer. Freight billed to customers is considered sales revenue, and the related freight costs are cost of sales. Volume based rebates paid to dealers are classified as a reduction of sales revenue. Sales of parts are classified as revenue.

Item 1.

Financial Statements — (Continued).

Skyline Corporation and Subsidiary Companies

Notes to Consolidated Financial Statements (Unaudited) — (Continued)

NOTE 1

Nature of Operations, Accounting Policies of Consolidated Financial Statements — (Continued)

Accounts Receivable — Trade receivables are based on the amounts billed to dealers and communities. The Corporation does not accrue interest on any of its trade receivables, nor does it have an allowance for credit losses due to favorable collections experience. If a loss occurs, the Corporation’s policy is to recognize it in the period when collectability cannot be reasonably assured.

Inventories — Inventories are stated at the lower of cost or market. Cost is determined under the first-in, first-out method. Physical inventory counts are taken at the end of each reporting quarter.

Workers’ Compensation Security Deposit — Deferred workers’ compensation deposit represents funds placed with the Corporation’s worker’s compensation insurance carrier to offset future medical claims and benefits.

Note Receivable — The Corporation’s note receivable represents the amount owed for the sale of two idle recreational vehicle facilities in Hemet, California; less cash received on the date of closing and cash received from principal repayments. The note was fully repaid in December 2014.

Property, Plant and Equipment — Property, plant and equipment are stated at cost. Depreciation is computed over the estimated useful lives of the assets using the straight-line method for financial statement reporting and accelerated methods for income tax reporting purposes. Estimated useful lives for significant classes of property, plant and equipment, including idle property, are as follows: Building and improvements 10 to 30 years; machinery and equipment 5 to 8 years. At February 28, 2015, idle property consisted of an idle manufacturing facility in Ocala, Florida. At May 31, 2014, idle property consisted of the aforementioned facility, and two manufacturing facilities in Elkhart, Indiana. The Corporation has the Ocala facility, and undeveloped land in McMinnville, Oregon presently for sale.

Long-lived assets are reviewed for impairment whenever events indicate that the carrying amount of an asset may not be recoverable from projected future cash flows. If the carrying value of a long-lived asset is impaired, an impairment charge is recorded for the amount by which the carrying value of the long-lived asset exceeds its fair value. The Company believes no impairment of long-lived assets exists at February 28, 2015.

Warranty — The Corporation provides the retail purchaser of its homes, park models and recreational vehicles with a full fifteen-month warranty against defects in design, materials and workmanship. The warranties are backed by service departments located at the Corporation’s manufacturing facilities and an extensive field service system.

Item 1.

Financial Statements — (Continued).

Skyline Corporation and Subsidiary Companies

Notes to Consolidated Financial Statements (Unaudited) — (Continued)

NOTE 1

Nature of Operations, Accounting Policies of Consolidated Financial Statements — (Continued)

Warranty (continued) — Estimated warranty costs are accrued at the time of sale based upon current sales, historical experience and management’s judgment regarding anticipated rates of warranty claims. The adequacy of the recorded warranty liability is periodically assessed and the amount is adjusted as necessary.

Income Taxes — The Corporation recognizes deferred tax assets based on differences between the carrying values of assets for financial and tax reporting purposes. The realization of the deferred tax assets is dependent upon the generation of sufficient future taxable income.

Generally accepted accounting principles require that an entity consider both negative and positive evidence in determining whether a valuation allowance is warranted. In comparing negative and positive evidence, continual losses in recent years is considered significant, negative, objective evidence that deferred tax assets may not be realized in the future, and generally is assigned more weight than subjective positive evidence of the realizability of deferred tax assets. As a result of its extensive evaluation of both positive and negative evidence, management maintains a full valuation allowance against its deferred tax assets. The Corporation reports a liability, if any, for unrecognized tax benefits resulting from uncertain tax positions taken or expected to be taken in a tax return. The Corporation recognizes interest and penalties, if any, related to unrecognized tax benefits in income tax expense.

Recently issued accounting pronouncements — In April 2014, the Financial Accounting Standards Board issued Accounting Standards Update (ASU) No. 2014-08 Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity. ASU No. 2014-08 changes the requirements for reporting discontinued operations in that a discontinued operation may include a component of an entity, a group of components of an entity, or a business or non-profit activity. In addition, a disposal of a component of an entity or a group of components of an entity is required to be reported in discontinued operations if the disposal represents a strategic shift that has or will have a major effect on an entity’s operations and financial results when certain conditions are met. For public business entities, ASU No. 2014-08 is effective for all disposals (or classifications as held for sale) of components of an entity that occur within annual periods beginning on or after December 15, 2014, and interim periods within those years. Early adoption is permitted, but only for disposals (or classifications as held for sale) that have not been reported in financial statements previously issued or available for issuance.

The Corporation did not utilize early adoption of ASU No. 2014-08 regarding the sale of its recreational vehicle segment as referenced in Note 2. It will, however, adopt this pronouncement for any disposals (or classifications as held for sale) that may occur after May 31, 2015.

Item 1.

Financial Statements — (Continued).

Skyline Corporation and Subsidiary Companies

Notes to Consolidated Financial Statements (Unaudited) — (Continued)

NOTE 1

Nature of Operations, Accounting Policies of Consolidated Financial Statements — (Continued)

Management’s Plan — The Corporation’s consolidated financial statements were prepared on a going concern basis, which assumes continuity of operations and realization of assets and satisfaction of liabilities in the ordinary course of business. Due to recurring losses, the Corporation experienced negative cash flows from operating activities. The level of historical negative cash flows from operations and not having available funding from outside financing sources as of February 28, 2015 raise substantial doubt about the Corporation’s ability to continue as a going concern. To continue as a going concern, certain strategies need to be pursued to raise capital, increase sales and decrease costs. These strategies include but are not all inclusive:

•

Divest Non-Core Assets: Management is focused on driving profitable growth in the Corporation’s core housing business.

Progress:

In October 2014, the Corporation sold its recreational vehicle segment to focus solely on its core housing business and to raise cash. Additional information regarding the sale is in Note 2 of Notes to Consolidated Financial Statements.

In addition to the sale of the RV business, the Corporation sold two idle housing facilities and one undeveloped parcel of land in fiscal 2014 and is currently seeking buyers for an idle housing facility and an undeveloped parcel of land to raise cash and eliminate carrying costs.

•

Optimize Manufacturing Footprint: Through an ongoing assessment of the strategic positioning of Skyline’s manufacturing facilities, Management has successfully executed initiatives to optimize financial performance by reducing costs and gaining efficiencies at each facility.

Progress:

Similarly, in the first nine months of fiscal 2015, excluding Mansfield, seven of the Corporation’s eight housing facilities had operating profits. By comparison, in the first nine months of fiscal 2014, four of the eight housing facilities had operating profits.

Item 1.

Financial Statements — (Continued).

Skyline Corporation and Subsidiary Companies

Notes to Consolidated Financial Statements (Unaudited) — (Continued)

NOTE 1

Nature of Operations, Accounting Policies of Consolidated Financial Statements — (Continued)

•

Increase Sales:

•

Working to increase sales at the Mansfield, Texas housing facility by gaining a greater presence on the properties of manufactured housing dealers and manufactured housing communities.

•

Continuing to work with manufactured housing communities to identify opportunities for increasing sales.

•

Increasing sales of modular homes and park models by cultivating relationships with modular housing developers and campground owners that are outside the Corporation’s historical distribution channels.

•

Establishing additional distribution channels and forging new strategic relationships.

Progress:

The Mansfield facility continues to build sales since commencing operations in the third quarter of fiscal 2014. In the third quarter, where sales are traditionally lowest for the year, sales decreased 7 percent from the second to third quarters as compared to an approximately 23 percent decline for all of the housing facilities.

For the first nine months of fiscal 2015, manufactured housing sales to the Corporation’s six largest communities increased approximately 40 percent compared with the first nine months of fiscal 2014. For the third quarter of fiscal 2015, sales to these communities increased approximately 41 percent compared with the third quarter of fiscal 2014.

In the third quarter of fiscal 2015, net sales for modular housing and park models increased approximately 22 percent and 45 percent, respectively, compared with the third quarter of fiscal 2014.

For the first nine months of fiscal 2015, net sales for modular housing and park models increased approximately 16 percent and 82 percent, respectively, compared with the first nine months of fiscal 2014.

During the second quarter, the Corporation established a relationship with a manufactured housing retailer that specializes in internet-based marketing and provides factory tours to potential customers. This retailer operates retail sales centers located at the Corporation’s housing facilities. This relationship is expected to help drive additional sales by more fully exploiting this increasingly important distribution channel for the Corporation’s products. This initiative began generating sales to four locations in the third quarter. The Corporation expects one or two additional locations to be operating by the end of fiscal 2015.

Item 1.

Financial Statements — (Continued).

Skyline Corporation and Subsidiary Companies

Notes to Consolidated Financial Statements (Unaudited) — (Continued)

NOTE 1

Nature of Operations, Accounting Policies of Consolidated Financial Statements — (Continued)

Management’s Plan — (continued)

•

Decrease Costs: Skyline continues to streamline costs with a focus on maximizing efficiencies and resources.

Progress:

The Corporation’s Purchasing Department has obtained significant price concessions from certain suppliers and anticipates further savings from this initiative in the fourth quarter of the fiscal year.

In addition, Management has continued to analyze staffing needs and make reductions when considered appropriate. In connection with the sale of the RV business, the Corporation also identified and implemented reductions in corporate personnel that should result in annualized savings of approximately $400,000.

•

Raise Additional Capital:

Progress:

On March 20, 2015, the Corporation entered into a Loan and Security Agreement with First Business Capital Corp. providing for a renewable three-year secured revolving credit facility. Under the new credit facility, the Company may obtain loan advances up to a maximum of $10 million, subject to certain collateral-obligation ratios. Outstanding loan advances under the facility will bear interest at 3.75% in excess of The Wall Street Journal’s published one year LIBOR rate. The facility will be used to support the Company’s working capital needs and other general corporate purposes, and is secured by substantially all of the Company’s and its subsidiaries’ assets. Additional information regarding the revolving credit facility is in Note 11 of Notes to Consolidated Financial Statements.

Management believes that it will be able to execute their strategies as noted above. Management is prepared to modify these strategies as appropriate to meet prevailing business and market conditions.

NOTE 2

Discontinued Operations

During September 2014, the Corporation made a strategic decision to exit the recreational vehicle industry in order to focus on its core housing business.

Item 1.

Financial Statements — (Continued).

Skyline Corporation and Subsidiary Companies

Notes to Consolidated Financial Statements (Unaudited) — (Continued)

NOTE 2

Discontinued Operations — (Continued)

As a result, on October 7, 2014 (“Closing Date”), the Corporation completed the sale of certain assets associated with its recreational vehicle segment (the “Transaction”) to Evergreen Recreational Vehicles, LLC (“ERV”). The Transaction was completed pursuant to the terms of an Asset Purchase Agreement entered into between the Corporation and ERV on the Closing Date, as well as the terms of a Real Property Purchase Agreement entered into on that same date between the Corporation and an affiliate of ERV, Skyline RE Holding LLC (which, collectively with ERV, is referred to herein as “Evergreen”). The assets of the recreational vehicle segment disposed of in the Transaction include: A recreational vehicle manufacturing facility consisting of approximately 135,000 square feet situated on 18.2 acres located in Bristol, Indiana;

•

Intellectual properties such as trademarks, licenses, and product designs associated with the recreational vehicle segment;

•

Furniture, machinery, software, and equipment;

•

Raw material and work-in-process inventories;

•

Product designs, plans, and specifications; and

•

Customer purchase orders and contracts, customer lists, and supplier lists.

The amount and nature of the consideration received by the Corporation for the assets sold include:

•

A cash payment of $175,000;

•

A separate cash payment of approximately $806,000, less prorated property taxes of approximately $73,000 and selling expenses of approximately $2,000, for the Bristol, Indiana manufacturing facility; and

•

For six months following the Closing Date, Evergreen will pay the Corporation 50 percent of the Corporation’s cost for raw materials inventory purchased by the Corporation prior to the Closing Date within 10 days of Evergreen’s use of the raw material. After six months following the Closing Date, the Corporation will have the right to remove any remaining materials inventory from Evergreen’s possession.

In addition, under the Asset Purchase Agreement Evergreen will not assume or agree to pay, perform, or discharge any of the Corporation’s liabilities or obligations, which will remain the liabilities and obligations of the Corporation.

Item 1.

Financial Statements — (Continued).

Skyline Corporation and Subsidiary Companies

Notes to Consolidated Financial Statements (Unaudited) — (Continued)

NOTE 2

Discontinued Operations — (Continued)

Consequently, the Corporation incurred an approximate $901,000 charge in the second quarter reflecting the reduction in value of the raw material inventory plus raw material inventory that will not be used by Evergreen. Through February 28, 2015, Evergreen has paid the Corporation approximately $596,000 for raw material inventory. In future periods, there may be additional charges that could be material related to the discontinued operations of the recreational vehicle segment disposed of in the Transaction.

The following table summarizes the results of discontinued operations:


	Three-Months Ended February 28,						Nine-Months Ended February 28,
	2015			2014			2015			2014
	(Dollars in thousands)						(Dollars in thousands)

Net Sales	$	52		$	8,603		$	9,767		$	26,989


Operating loss of discontinued operations	$	(86	)	$	(1,806	)	$	(5,944	)	$	(3,669	)
Loss on disposal of discontinued operations		—			—			(231	)		—

Loss before income taxes		(86	)		(1,806	)		(6,175	)		(3,669	)
Income tax benefit		—			—			—			—

Loss from discontinued operations, net of taxes	$	(86	)	$	(1,806	)	$	(6,175	)	$	(3,669	)

Loss on disposal of discontinued operations consisted of a $901,000 charge associated with the reduction in value of raw material inventory, less a gain of approximately $670,000 resulting from the sale of two idle recreational vehicle manufacturing facilities in Elkhart, Indiana to Forest River Manufacturing, LLC.

The Corporation’s park model business, which was formerly reported in the recreational vehicle segment, was not disposed as part of the transaction with Evergreen and is now reported in the housing segment because net sales do not warrant separate segment reporting.

Item 1.

Financial Statements — (Continued).

Skyline Corporation and Subsidiary Companies

Notes to Consolidated Financial Statements (Unaudited) — (Continued)

NOTE 2

Discontinued Operations — (Continued)

The following is a summary of assets and liabilities of discontinued operations at February 28, 2015 and May 31, 2014:


	February 28, 2015		May 31, 2014
	(Dollars in thousands)

Current Assets:
Accounts receivable	$	298	$	4,770
Inventories		194		2,703

	$	492	$	7,473


Property, Plant and Equipment:
Property, plant and equipment, at cost	$	—	$	9,812
Less accumulated depreciation		—		7,901

	$	—	$	1,911


Current Liabilities:
Accounts payable, trade	$	117	$	2,089
Accrued salaries and wages		—		419
Accrued marketing programs		64		330
Other accrued liabilities		157		186

	$	338	$	3,024

In accordance with the Asset Purchase Agreement, the Corporation is responsible for the payment of product warranty claims associated with recreational vehicles sold by the Corporation. Consequently, this obligation is not included in the liabilities of discontinued operations on the Consolidated Balance Sheets at February 28, 2015 and May 31, 2014.

NOTE 3

Inventories

Total inventories from continuing operations consist of the following:


	February 28, 2015		May 31, 2014
	(Dollars in thousands)

Raw materials	$	5,751	$	5,135

Work in process		2,848		3,174

Finished goods		708		318

	$	9,307	$	8,627

Item 1.

Financial Statements — (Continued).

Skyline Corporation and Subsidiary Companies

Notes to Consolidated Financial Statements (Unaudited) — (Continued)

NOTE 4

Note Receivable

During fiscal 2013, the Corporation sold two idle recreational vehicle facilities in Hemet, California. The sale of the facilities included a promissory note of $1,700,000 to the Corporation. The note carried an interest rate of 6 percent per annum, required monthly payments following a 20 year amortization schedule, and provided for a final payment after 6 years. The two facilities were collateral for the note. The note was fully repaid in December 2014.

NOTE 5

Other Assets

Other assets consist primarily of the cash surrender value of life insurance policies which totaled $6,511,000 and $6,452,000 at February 28, 2015 and May 31, 2014, respectively.

NOTE 6

Warranty

A reconciliation of accrued warranty and related expenses is as follows:


	Nine-Months Ended February 28,
	2015			2014
	(Dollars in thousands)

Balance at the beginning of the period	$	5,697		$	5,882
Accruals for warranties		4,932			4,106
Settlements made during the period		(4,907	)		(3,867	)

Balance at the end of the period		5,722			6,121

Non-current balance included in other deferred liabilities		2,000			2,200


Accrued warranty and related expenses	$	3,722		$	3,921

At February 28, 2015, the total current obligation for warranty and related expenses associated with the recreational vehicle segment is estimated to be $965,000. At February 28, 2014, the total obligation for warranty and related expenses associated with the recreational vehicle segment was estimated to be $1,900,000; consisting of an estimated current obligation of $1,200,000 and non-current obligation of $700,000.

Item 1.

Financial Statements — (Continued).

Skyline Corporation and Subsidiary Companies

Notes to Consolidated Financial Statements (Unaudited) — (Continued)

NOTE 7

Long-Term Liabilities

Long-term liabilities, consisting of other deferred liabilities and life insurance loans include the following:


	February 28, 2015		May 31, 2014
	(Dollars in thousands)
Other deferred liabilities:
Deferred compensation expense	$	5,171	$	5,386
Accrued warranty and related expenses		2,000		2,000

Total other deferred liabilities		7,171		7,386
Life insurance loans		6,334		6,334

	$	13,505	$	13,720

Life insurance loans have no fixed repayment schedule, and have interest rates ranging from 4.2 percent to 7.4 percent. The weighted average interest rate is 5.9 percent. At February 28, 2015 and May 31, 2014, prepaid interest associated with the life insurance loans totaled approximately $217,000 and $165,000, respectively; which is recognized in Other current assets.

NOTE 8

Income Taxes

At February 28, 2015, the Corporation’s gross deferred tax assets of approximately $50 million consist of approximately $35 million in federal net operating loss carryforwards and tax credit carryforwards, $8 million in state net operating loss carryforwards, $7 million resulting from temporary differences between financial and tax reporting and $5 million in gross deferred tax assets pertaining to discontinued operations. The federal net operating loss and tax credit carryforwards have a life expectancy of between sixteen and twenty years. The state net operating loss carryforwards have a life expectancy, depending on the state where a loss was incurred, between five and twenty years. The Corporation has recorded a full valuation allowance against this asset. If the Corporation, after considering future negative and positive evidence regarding the realization of deferred tax assets, determines that a lesser valuation allowance is warranted, it would record a reduction to income tax expense and the valuation allowance in the period of determination.

NOTE 9

Commitments and Contingencies

The Corporation was contingently liable at February 28, 2015 and May 31, 2014 under repurchase agreements with certain financial institutions providing inventory financing for dealers of its products. Under these arrangements, which are customary in the manufactured housing and park models industries, the Corporation agrees to repurchase units in the event of default by the dealer at declining prices over the term of the agreement. The period to potentially repurchase units is between 12 to 24 months.

Item 1.

Financial Statements — (Continued).

Skyline Corporation and Subsidiary Companies

Notes to Consolidated Financial Statements (Unaudited) — (Continued)

NOTE 9

Commitments and Contingencies — (Continued)

The maximum repurchase liability is the total amount that would be paid upon the default of the Corporation’s independent dealers. The maximum potential repurchase liability for continuing and discontinued operations, without reduction for the resale value of the repurchased units, was approximately $62 million at February 28, 2015 and approximately $63 million at May 31, 2014. At February 28, 2015 and May 31, 2014, the maximum potential repurchase liability, without reduction for the resale value of the repurchased units, associated with discontinued operations was approximately $24 million and $33 million, respectively. As a result of favorable experience regarding repurchased units, which is largely due to the strength of dealers selling the Corporation’s products, the Corporation maintained at February 28, 2015 and May 31, 2014, a $100,000 loss reserve that is a component of other accrued liabilities. $9,000 of the $100,000 loss reserve pertains to discontinued operations, and Management believes that the Corporation’s exit from the recreational vehicle business will not further impact the loss reserve.

The risk of loss under these agreements is spread over many dealers and financial institutions. The loss, if any, under these agreements is the difference between the repurchase cost and the resale value of the units. The Corporation estimates the fair value of this commitment considering both the contingent losses and the value of the guarantee. This amount has historically been insignificant. The Corporation believes that any potential loss under the agreements in effect at February 28, 2015 will not be material to its financial position or results of operations.

In the first nine months of fiscal 2015, 11 recreational vehicles were repurchased for approximately $203,000; resulting in a loss of approximately $43,000. In the first nine months of fiscal 2014, there were no obligations or net losses from repurchased units.

The Corporation is a party to various pending legal proceedings in the normal course of business. Management believes that any losses resulting from such proceedings would not have a material adverse effect on the Corporation’s results of operations or financial position.

The Corporation utilizes a combination of insurance coverage and self-insurance for certain items, including workers’ compensation and group health benefits. Liabilities for workers’ compensation are recognized for estimated future medical costs and indemnity costs. Liabilities for group health benefits are recognized for claims incurred but not paid. Insurance reserves are estimated based upon a combination of historical data and actuarial information. Actual results could differ from these estimates.

NOTE 10

Gain on Sale of Idle Property, Plant and Equipment

In the second quarter of fiscal 2014, the Corporation sold its idle manufactured housing facility located in Fair Haven, Vermont. The gain on the sale of this facility was $162,000. Likewise, in the third quarter of fiscal 2014 an idle manufactured housing facility located in Halstead, Kansas was sold for a gain of $300,000.

Item 1.

Financial Statements — (Continued).

Skyline Corporation and Subsidiary Companies

Notes to Consolidated Financial Statements (Unaudited) — (Continued)

NOTE 11

Subsequent Events

On March 20, 2015, the Corporation entered into a Loan and Security Agreement (the “Loan Agreement”) with First Business Capital Corp. (“First Business Capital”). Under the Loan Agreement, First Business Capital will provide a secured revolving credit facility to the Borrowers for a term of three years, renewable on an annual basis thereafter with each renewal for a successive one-year term. The Borrowers may obtain loan advances up to a maximum of $10,000,000 subject to certain collateral-obligation ratios. In addition, loan advances bear interest at 3.75% in excess of The Wall Street Journal’s published one year LIBOR rate, and are secured by substantially all of the Borrowers’ assets, now owned or hereafter acquired. Interest is payable monthly, in arrears, and all principal and accrued but unpaid interest is due and payable upon termination of the Loan Agreement.

Also under the Loan Agreement, First Business Capital agreed to issue, or cause to be issued by a bank affiliate or other bank, letters of credit for the account of the Borrowers. However, no advances have yet been made in connection with such letters of credit.

As part of the financing, the Company paid First Business Capital a facility fee of $150,000 at closing, and also agreed to pay the following fees to First Business Capital during the term of the facility: (i) annual facility fees of $50,000; (ii) an unused line fee payable in arrears at the rate of 0.25% per annum on the average daily unused amount of the facility during the prior calendar month; (iii) monthly bank assessment fees equal to 0.25% per annum of the maximum loan amount; (iv) certain overadvance fees (currently $1,000 per day) in the event outstanding obligations and letter of credit liabilities under the facility exceeds the amount permitted under the Loan Agreement; and (v) monthly letter of credit fees payable in arrears at the rate of 0.25% on the outstanding amount of letters of credit issued and outstanding during the prior month.

The Loan Agreement contains covenants that limit the ability of the Borrowers to, among other things: (i) incur or guarantee other indebtedness; (ii) create or incur liens, mortgages, or security interests on their assets; (iii) expend more than $600,000 per year for the lease, purchase, or acquisition of any asset; (iv) consummate asset sales, acquisitions, or mergers; (v) pay dividends or repurchase stock; (vi) make certain investments; (vii) enter into certain transactions with affiliates; and (viii) amend a Borrower’s articles of incorporation or bylaws.

The Loan Agreement also requires compliance with certain financial covenants (in each case calculated as set forth in the Loan Agreement), including: (i) minimum net worth; (ii) minimum net earnings; and (iii) maximum net loss.

If the Borrowers default in their obligations under the Loan Agreement, then the unpaid balances under the facility will bear interest at 3.0% per annum in excess of the rate that would apply in the absence of a default. Other remedies available to First Business Capital upon an event of default include the right to accelerate the maturity of all obligations, the right to foreclose on and otherwise repossess the collateral securing the obligations, all rights of a secured creditor under applicable law, and all other rights set forth in the Loan Agreement.

Item 1.

Financial Statements — (Continued).

Skyline Corporation and Subsidiary Companies

Notes to Consolidated Financial Statements (Unaudited) — (Continued)

NOTE 11

Subsequent Events — (Continued)

The events of default under the Loan Agreement include the following: (i) certain events of bankruptcy and insolvency; (ii) failure to make required payments; (iii) misrepresentations to First Business Capital; (iv) failure to comply with certain covenants and agreements; (v) termination or default under guarantees or subordination agreements; (vi) certain cross-default events; (vii) changes in control involving the Borrowers; (viii) certain injunctions or attachments are issued against a Borrower’s assets or restricting its business; and (ix) a material adverse change occurs with respect to the Borrowers.

The foregoing description of the Loan Agreement is a summary, does not purport to be complete, and is qualified in its entirety by reference to the full text of the Loan Agreement and various other loan documents, copies of which are attached as exhibits to the Current Report on Form 8-K filed with the Securities and Exchange Commission on March 26, 2015.

Item 2.

Management’s Discussion and Analysis of Financial Condition and Results of Operations.

Overview

The Corporation designs, produces and markets manufactured housing, modular housing and park models to independent dealers and manufactured housing communities located throughout the United States and Canada. To better serve the needs of its dealers and communities, the Corporation has nine manufacturing facilities in eight states. Manufactured housing and park models are sold to dealers and communities either through floor plan financing with various financial institutions or on a cash basis. While the Corporation maintains production of manufactured housing, modular homes and park models throughout the year, seasonal fluctuations in sales do occur. Sales and production of manufactured housing and modular housing are affected by winter weather conditions at the Corporation’s northern plants. Park model sales are generally higher in the spring and summer months than in the fall and winter months. Manufactured and modular housing are marketed under a number of trademarks, and are available in a variety of dimensions. Park models are marketed under the following trademarks: “Kensington”; “Shore Park”; “Stone Harbor”; and “Vacation Villa”. Manufactured housing products are built according to standards established by the U.S. Department of Housing and Urban Development. Modular homes are built according to state, provincial or local building codes. Park models are built according to specifications established by the American National Standards Institute, and are intended to provide temporary living accommodations for individuals seeking leisure travel and outdoor recreation.

Item 2.

Management’s Discussion and Analysis of Financial Condition and Results of Operations — (Continued).

Manufactured Housing, Modular Housing and Park Model Industry Conditions

Sales of manufactured housing, modular housing and park models are affected by the strength of the U.S. economy, interest rate and employment levels, consumer confidence and the availability of wholesale and retail financing. Recent trends regarding unit shipments of the Corporation’s products and their respective industries are as follows:


Manufactured Housing	2010		2011			2012			2013			2014

Industry		50,066		51,606			54,901			60,210			64,331
Percentage Increase (Decrease)				3	%		6	%		10	%		7	%

Skyline		1,894		1,880			1,848			2,205			2,678
Percentage Increase (Decrease)				(1	%)		(2	%)		19	%		21	%

Modular Housing

*Industry		13,616		12,202			13,290			14,020			13,856
Percentage Increase (Decrease)				(10	%)		9	%		5	%		(1	%)

**Skyline		250		347			382			350			477
Percentage Increase (Decrease)				39	%		10	%		(8	%)		36	%

* Domestic shipment only. Canadian industry shipments not available. ** Includes domestic and Canadian unit shipments

Park Models	2010		2011			2012			2013			2014

Industry		3,486		2,761			2,780			3,598			3,781
Percentage Increase (Decrease)				(21	%)		1	%		29	%		5	%

Skyline		129		170			138			171			307
Percentage Increase (Decrease)				32	%		(19	%)		24	%		80	%

Discontinued Operations

During September 2014, the Corporation made a strategic decision to exit the recreational vehicle industry in order to focus on its core housing business. As a result, on October 7, 2014 (“Closing Date”), the Corporation completed the sale of certain assets associated with its recreational vehicle segment (the “Transaction”) to Evergreen Recreational Vehicles, LLC (“ERV”). The Transaction was completed pursuant to the terms of an Asset Purchase Agreement entered into between the Corporation and ERV on the Closing Date, as well as the terms of a Real Property Purchase Agreement entered into on that same date between the Corporation and an affiliate of ERV, Skyline RE Holding LLC (which, collectively with ERV, is referred to herein as “Evergreen”).

Item 2.

Management’s Discussion and Analysis of Financial Condition and Results of Operations — (Continued).

Discontinued Operations — (Continued)

The assets of the recreational vehicle segment disposed of in the Transaction include, but not are limited to:

•

A recreational vehicle manufacturing facility consisting of approximately 135,000 square feet situated on 18.2 acres located in Bristol, Indiana;

•

Intellectual properties such as trademarks, licenses, and product designs associated with the recreational vehicle segment;

•

Furniture, machinery, software, and equipment;

•

Raw material and work-in-process inventories;

•

Product designs, plans, and specifications; and

•

Customer purchase orders and contracts, customer lists, and supplier lists.

The amount and nature of the consideration received by the Corporation for the assets sold include:

•

A cash payment of $175,000;

•

The Bristol facility, and assets other than raw material and finished goods inventories, was sold at approximately net book value. Evergreen has the right, but not the obligation, to purchase the raw material inventory at 50 percent of the Corporation’s cost of approximately $1,600,000. There can be no assurances as to how much of the raw material inventory Evergreen will purchase. Consequently, the Corporation incurred an approximate $901,000 charge in the second quarter reflecting the reduction in value of the raw material inventory plus raw material inventory that will not be used by Evergreen. Through February 28, 2015, Evergreen has paid the Corporation approximately $596,000 for raw material inventory. In future periods, there may be additional charges that could be material related to the discontinued operations of the recreational vehicle segment disposed of in the Transaction.

Item 2.

Management’s Discussion and Analysis of Financial Condition and Results of Operations — (Continued).

Discontinued Operations — (Continued)

The following table summarizes the results of discontinued operations:


	Three-Months Ended February 28,						Nine-Months Ended February 28,
	2015			2014			2015			2014
	(Dollars in thousands)						(Dollars in thousands)

Net Sales	$	52		$	8,603		$	9,767		$	26,989


Operating loss of discontinued operations	$	(86	)	$	(1,806	)	$	(5,944	)	$	(3,669	)
Loss on disposal of discontinued operations		—			—			(231	)		—

Loss before income taxes		(86	)		(1,806	)		(6,175	)		(3,669	)
Income tax benefit		—			—			—			—

Loss from discontinued operations, net of taxes	$	(86	)	$	(1,806	)	$	(6,175	)	$	(3,669	)

The following is a summary of assets and liabilities of discontinued operations at February 28, 2015 and May 31, 2014:


	February 28, 2015		May 31, 2014
	(Dollars in thousands)

Current Assets:
Accounts receivable	$	298	$	4,770
Inventories		194		2,703

	$	492	$	7,473


Property, Plant and Equipment:
Property, plant and equipment, at cost	$	—	$	9,812
Less accumulated depreciation		—		7,901

	$	—	$	1,911


Current Liabilities:
Accounts payable, trade	$	117	$	2,089
Accrued salaries and wages		—		419
Accrued marketing programs		64		330
Other accrued liabilities		157		186

	$	338	$	3,024

Item 2.

Management’s Discussion and Analysis of Financial Condition and Results of Operations — (Continued).

Discontinued Operations — (Continued)

In accordance with the Asset Purchase Agreement the Corporation is responsible for the payment of product warranty claims associated with recreational vehicles sold by the Corporation. Consequently, this obligation is not included in the liabilities of discontinued operations on the Consolidated Balance Sheets at February 28, 2015 and May 31, 2014.

Third Quarter Fiscal 2015 Results

The Corporation experienced the following results during the third quarter of fiscal 2015:

•

Net sales related to continuing operations were $38,109,000, an approximate 26 percent increase from the $30,169,000 reported in the same period a year ago

•

Loss from continuing operations for the third quarter of fiscal 2015 was $2,911,000 as compared to a net loss of $3,906,000 for the same period a year ago

•

Loss from discontinued operations, net of incomes taxes, was $86,000 for the third quarter of fiscal 2015 as compared to $1,806,000 for the same period a year ago

•

Net loss for the third quarter of fiscal 2015 was $2,997,000 as compared to $5,712,000 for the third quarter of fiscal 2014. On a per share basis, net loss was $.36 as compared to $.68 for the same period a year ago

The Corporation experienced increased net sales in the third quarter of fiscal 2015 as compared to the third quarter of fiscal 2014, and management cannot determine with certainty if this trend will continue. This uncertainty is based on potential adverse changes in economic growth, interest rate and employment levels, and consumer confidence.

Item 2.

Management’s Discussion and Analysis of Financial Condition and Results of Operations — (Continued).

Management’s Plan

The Corporation’s consolidated financial statements were prepared on a going concern basis, which assumes continuity of operations and realization of assets and satisfaction of liabilities in the ordinary course of business. Due to recurring losses, the Corporation experienced negative cash flows from operating activities. The level of historical negative cash flows from operations and not having available funding from outside financing sources as of February 28, 2015 raise substantial doubt about the Corporation’s ability to continue as a going concern. To continue as a going concern, certain strategies need to be pursued to raise capital, increase sales and decrease costs. These strategies include but are not all inclusive:

•

Divest Non-Core Assets: Management is focused on driving profitable growth in the Corporation’s core housing business.

Progress:

•

Progress:

The Corporation continues to show improvement over fiscal 2014. In the third quarter, excluding the Mansfield facility which has not yet been operating for a full year, four of the Corporation’s eight housing facilities had operating profits for the third quarter of fiscal 2015. By comparison, two of the Corporation’s eight housing facilities had operating profits for the third quarter of fiscal 2014. Similarly, in the first nine months of fiscal 2015, excluding Mansfield, seven of the Corporation’s eight housing facilities had operating profits. By comparison, in the first nine months of fiscal 2014, four of the eight housing facilities had operating profits.

•

Increase Sales:

•

Working to increase sales at the Mansfield, Texas housing facility by gaining a greater presence on the properties of manufactured housing dealers and manufactured housing communities.

•

Continuing to work with manufactured housing communities to identify opportunities for increasing sales.

•

Establishing additional distribution channels and forging new strategic relationships.

Progress:

Item 2.

Management’s Discussion and Analysis of Financial Condition and Results of Operations — (Continued).

Management’s Plan — (Continued)

In the third quarter of fiscal 2015, net sales for modular housing and park models increased approximately 22 percent and 45 percent, respectively, compared with the third quarter of fiscal 2014.

•

Decrease Costs: Skyline continues to streamline costs with a focus on maximizing efficiencies and resources.

Progress:

Item 2.

Management’s Discussion and Analysis of Financial Condition and Results of Operations — (Continued).

Management’s Plan — (Continued)

•

Raise Additional Capital:

Progress:

Outstanding loan advances under the facility will bear interest at 3.75% in excess of The Wall Street Journal’s published one year LIBOR rate. The facility will be used to support the Company’s working capital needs and other general corporate purposes, and is secured by substantially all of the Company’s and its subsidiaries’ assets. Additional information regarding the revolving credit facility is in Subsequent Events.

Subsequent Events

Item 2.

Management’s Discussion and Analysis of Financial Condition and Results of Operations — (Continued).

Subsequent Events — (Continued)

Item 2.

Management’s Discussion and Analysis of Financial Condition and Results of Operations — (Continued).

Results of Operations – Three-Month Period Ended February 28, 2015 Compared to Three-Month Period Ended February 28, 2014 (Unaudited) — (Continued)

Net Sales and Unit Shipments


	February 28, 2015		Percent			February 28, 2014		Percent			Increase
	(Dollars in thousands)

Net Sales
Manufactured Housing	$	30,067		79	%	$	24,038		80	%	$	6,029
Modular Housing		4,382		11			3,603		12			779
Park Models		3,660		10			2,528		8			1,132


Total Net Sales	$	38,109		100	%	$	30,169		100	%	$	7,940


Unit Shipments
Manufactured Housing		507		76	%		454		79	%		53
Modular Housing		58		9			52		9			6
Park Models		98		15			71		12			27


Total Unit Shipments		663		100	%		577		100	%		86

Net sales increased approximately 26 percent. The increase was comprised of a 25 percent increase in manufactured housing net sales, a 22 percent increase in modular housing net sales, and a 45 percent increase in park model net sales.

For the following three month periods, the percentage increase in unit shipments from the comparable period last year are as follows:


	February 28, 2015 Skyline			January 31, 2015 Industry
Manufactured Housing		12	%		10	%

Modular Housing		12	%		Not available

Park Models		38	%		7	%

Total		15	%		Not applicable

Compared to prior year, the average net sales price for manufactured housing, modular housing and park models increased approximately 12 percent, 9 percent and 5 percent respectively. The increase primarily results from the sale of homes and park models with larger square footage and greater amenities.

Item 2.

Management’s Discussion and Analysis of Financial Condition and Results of Operations — (Continued).

Results of Operations – Three-Month Period Ended February 28, 2015 Compared to Three-Month Period Ended February 28, 2014 (Unaudited) — (Continued)

Cost of Sales


	February 28, 2015		Percent of Net Sales		February 28, 2014		Percent of Net Sales		Increase
	(Dollars in Thousands)

Cost of sales	$	35,771		94	$	29,390		97	$	6,381

Cost of sales, in dollars, increased as a result of increased net sales. As a percentage of net sales, cost of sales decreased due to models sold with improved margins, and efforts by the Corporation’s Purchasing Department to improve material costs.

Selling and Administrative Expenses


	February 28, 2015		Percent of Net Sales		February 28, 2014		Percent of Net Sales		Increase
	(Dollars in thousands)

Selling and administrative expenses	$	5,159		14	$	5,010		17	$	149

Selling and administrative expenses increased primarily as a result of approximately $176,000 in costs associated with the Special Committee of the Board of Directors tasked to evaluate strategic initiatives. As a percentage of net sales, selling and administrative expenses declined due to certain costs remaining fixed amid rising sales.

Gain on Sale of Idle Property and Equipment

In the third quarter of fiscal 2014, the Corporation sold an idle housing facility located in Halstead, Kansas. The gain on the sale of this facility was $300,000.

Interest Expense

Interest expense of $92,000 for the third quarter of fiscal 2015 is related to interest paid on life insurance policy loans.

Interest Income

Interest income of $2,000 and $25,000 for the third quarters of fiscal 2015 and 2014, respectively, consisted of interest received from the Corporation’s Note receivable.

Item 2.

Management’s Discussion and Analysis of Financial Condition and Results of Operations — (Continued).

Results of Operations –Nine-Month Period Ended February 28, 2015 Compared to Nine-Month Period Ended February 28, 2015 (Unaudited) — (Continued)

Net Sales and Unit Shipments


	February 28, 2015		Percent			February 28, 2014		Percent			Increase
	(Dollars in thousands)
Net Sales
Manufactured Housing	$	109,370		80	%	$	85,537		80	%	$	23,833
Modular Housing		19,288		14			16,698		16			2,590
Park Models		8,722		6			4,805		4			3,917


Total Net Sales	$	137,380		100	%	$	107,040		100	%	$	30,340


Unit Shipments
Manufactured Housing		2,009		80	%		1,747		82	%		262
Modular Housing		282		11			261		12			21
Park Models		232		9			135		6			97


Total Unit Shipments		2,523		100	%		2,143		100	%		380

Net sales increased approximately 28 percent. The increase was comprised of a 28 percent increase in manufactured housing net sales, a 16 percent increase in modular housing net sales, and a 82 percent increase in park model net sales. Current year manufactured housing net sales includes approximately $4,817,000 of first and second quarters net sales attributable to the facility located in Mansfield, Texas. This facility commenced housing operations in the third quarter of fiscal 2014.

For the following nine month periods, the percentage increase in unit shipments from the comparable period last year are as follows:


	February 28, 2015 Skyline			January 31, 2015 Industry
Manufactured Housing		15	%		8	%

Modular Housing		8	%		Not available

Park Models		72	%		5	%

Total		18	%		Not applicable

Compared to prior year, the average net sales price for manufactured housing, modular housing and park models increased approximately 11 percent, 7 percent and 6 percent, respectively. The increase primarily results from the sale of homes and park models with larger square footage and greater amenities.

Item 2.

Management’s Discussion and Analysis of Financial Condition and Results of Operations — (Continued).

Results of Operations –Nine-Month Period Ended February 28, 2015 Compared to Nine-Month Period Ended February 28, 2014 (Unaudited) — (Continued)

Cost of Sales


	February 28, 2015		Percent of Net Sales		February 28, 2014		Percent of Net Sales		Increase
	(Dollars in Thousands)

Cost of Sales	$	125,843		92	$	98,851		92	$	26,992

Cost of sales, in dollars, increased as a result of increased net sales. Included in current year cost of sales is approximately $5,047,000 of first and second quarter costs attributable to the Mansfield, Texas facility, which was not fully operational as a housing facility a year ago. As previously referenced, housing operations commenced in the third quarter of fiscal 2014.

Selling and Administrative Expenses


	February 28, 2015		Percent of Net Sales		February 28, 2014		Percent of Net Sales		Increase
	(Dollars in thousands)

Selling and administrative expenses	$	15,347		11	$	14,361		13	$	986

Selling and administrative expenses, increased primarily as a result of the Mansfield, Texas facility incurring approximately $702,000 in expenses in the first nine months of fiscal 2015 as compared to $325,000 for the same period a year ago. In addition, approximately $237,000 in costs were incurred associated with the Special Committee of the Board of Directors tasked to evaluate strategic initiatives. Finally, the prior year included a $250,000 decrease in the expense related to the Corporation’s liability for retirement and death benefits offered to certain current and former employees as a result of a change in the interest rate used in valuing the liability. As a percentage of net sales, selling and administrative expenses declined due to certain costs remaining fixed amid rising sales.

Gain on Sale of Idle Property, Plant and Equipment

In the second quarter of fiscal 2014, the Corporation sold an idle housing facility located in Fair Haven, Vermont for a gain of $162,000. Likewise, in the third quarter of fiscal 2014 an idle facility in Halstead, Kansas was sold for a gain of $300,000.

Item 2.

Management’s Discussion and Analysis of Financial Condition and Results of Operations — (Continued).

Results of Operations – Nine-Month Period Ended February 28, 2015 Compared to Nine-Month Period Ended February 28, 2014 (Unaudited) — (Continued)

Interest Expense

Interest expense of $279,000 for the third quarter of fiscal 2015 is related to interest paid on life insurance policy loans.

Interest Income

Interest income of $50,000 and $75,000 for the third quarters of fiscal 2015 and 2014, respectively, consisted of interest received from the Corporation’s Note receivable.

Liquidity and Capital Resources


	February 28, 2015		May 31, 2014		Decrease
	(Dollars in thousands)

Cash	$	4,933	$	6,031	$	1,098
Current assets, exclusive of cash	$	25,778	$	35,639	$	9,861
Current liabilities	$	13,788	$	18,247	$	4,459
Working capital	$	16,923	$	23,423	$	6,500

As noted in the Consolidated Statements of Cash Flows, cash decreased primarily due to net cash usage of $5,014,000 for operating activities offset by net cash provided by investing activities of $3,916,000. Current assets, exclusive of cash, decreased mainly due to a $6,981,000 decrease in assets of discontinued operations and a $3,170,000 decrease in accounts receivable. Assets of discontinued operations declined as a result of the Corporation’s sale of its recreational vehicle segment. Accounts receivable decreased due to the timing of payments from dealers and communities at February 28, 2015 as compared to May 31, 2014.

Current liabilities decreased due to the following factors:

•

Liabilities of discontinued operations decreased $2,686,000 resulting from the Corporation’s sale of its recreational vehicle segment

•

Other accrued liabilities decreased primarily as a result of fulfilling $718,000 of certain obligations under the Corporation’s contract with National Community Renaissance of California.

•

Accounts payable decreased $1,410,000 due to less production occurring at February 28, 2015 as compared to May 31, 2014

•

Accrued marketing programs increased $1,080,000 due to accruals for an ongoing marketing program for manufactured housing dealers and communities. Accruals are made monthly, and the majority of the payments occur during the Corporation’s fourth quarter.

Item 2.

Management’s Discussion and Analysis of Financial Condition and Results of Operations — (Continued).

Liquidity and Capital Resources — (Continued)

Capital expenditures totaled $178,000 for the first nine months of fiscal 2015 as compared to $649,000 for the first nine months of fiscal 2014. Approximately $556,000 of prior year expenditures was attributable to the renovation of the Mansfield, Texas facility to accommodate housing production.

Certain key cash flow metrics related to discontinued operations for the first nine months of fiscal 2015 are set forth below (in thousands):


Loss from discontinued operations, net of income taxes	$	(6,175	)
Depreciation	$	67
Reduction in value of raw material inventory	$	901
Gain on sale of property, plant and equipment	$	(670	)

With the sale of the recreational vehicle segment, the Corporation anticipates that cash needs associated with this discontinued operation will significantly decrease in future periods since it will not be funding significant operating losses. As previously referenced, the Corporation has current assets of discontinued operations of $492,000, current liabilities of discontinued operations of $338,000, and an estimated $965,000 of current warranty obligations associated with the recreational vehicle segment that is reported in continuing obligations.

As noted in the “Management’s Plan” section, the Corporation is aggressively pursuing strategies in order to increase sales and decrease costs, and subsequent to February 28, 2015 obtained a revolving credit facility. Management believes that it will be able to execute their strategies as noted above. Management is prepared to modify these strategies as appropriate to meet prevailing business and market conditions.

Impact of Inflation

The consolidated financial statements included in this report reflect transactions in the dollar values in which they were incurred and, therefore, do not attempt to measure the impact of inflation. On a long-term basis, the Corporation has demonstrated an ability to adjust selling prices in reaction to changing costs due to inflation.

Item 2.

Management’s Discussion and Analysis of Financial Condition and Results of Operations — (Continued).

Forward Looking Information

Certain statements in this report are considered forward looking as indicated by the Private Securities Litigation Reform Act of 1995. These statements involve uncertainties that may cause actual results to materially differ from expectations as of the report date. These uncertainties include but are not limited to:

•

Consumer confidence and economic uncertainty

•

Availability of wholesale and retail financing

•

The health of the U.S. housing market as a whole

•

Federal, state and local regulations pertaining to the manufactured housing industry

•

Cyclical nature of the housing and park model industries

•

General or seasonal weather conditions affecting sales

•

Potential impact of natural disasters on sales and raw material costs

•

Potential periodic inventory adjustments by independent retailers

•

Interest rate levels

•

Impact of inflation

•

Impact of rising fuel costs

•

Cost of labor and raw materials

•

Competitive pressures on pricing and promotional costs

•

Catastrophic events impacting insurance costs

•

The availability of insurance coverage for various risks to the Corporation

•

Market demographics

•

Management’s ability to attract and retain executive officers and key personnel

Item 3.

Quantitative and Qualitative Disclosures About Market Risk.

Not applicable.

Item 4.

Controls and Procedures.

Management’s Conclusions Regarding Effectiveness of Disclosure Controls and Procedures

As of February 28, 2015, the Corporation conducted an evaluation, under the supervision and participation of management including the Chief Executive Officer and Chief Financial Officer, of the effectiveness of the Corporation’s disclosure controls and procedures (as defined in Rule 13a-15(e) of the Securities Exchange Act of 1934). Based upon that evaluation, the Chief Executive Officer and Chief Financial Officer concluded that the Corporation’s disclosure controls and procedures are effective for the period ended February 28, 2015.

Item 4.

Controls and Procedures — (Continued).

Changes in Internal Control over Financial Reporting

No change in the Corporation’s internal control over financial reporting (as such term is defined in Exchange Act Rule 13a-15(f)) occurred during the third quarter ended February 28, 2015 that materially affected, or is reasonably likely to materially affect, the Corporation’s internal control over financial reporting.

PART II — OTHER INFORMATION

Item 1.

Legal Proceedings.

Information with respect to this Item for the period covered by this Form 10-Q has been reported in Item 3, entitled “Legal Proceedings” of the Form 10-K for the fiscal year ended May 31, 2014 filed by the registrant with the Commission.

Item 1A.

Risk Factors.

There were no material changes in the risk factors disclosed in Item 1A of the Corporation’s Form 10-K for the year ended May 31, 2014.

Item 6.

Exhibits.


(10)		Material Contracts

(31.1)		Certification of Chief Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002-Rule 13a-14(a)/15d-14(a)

(31.2)		Certification of Chief Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002-Rule 13a-14(a)/15d-14(a)

(32)		Certification of Chief Executive Officer and Chief Financial Officer Pursuant to 18 U.S.C. Section 1350 as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

(101.INS)		XBRL Instance Document.

(101.SCH)		XBRL Taxonomy Extension Schema Document.

(101.CAL)		XBRL Taxonomy Extension Calculation Linkbase Document.

(101.DEF)		XBRL Taxonomy Definition Linkbase Document.

(101.LAB)		XBRL Taxonomy Extension Label Linkbase Document.

(101.PRE)		XBRL Taxonomy Extension Presentation Linkbase Document.

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 thereunto duly authorized.


		SKYLINE CORPORATION

DATE:	April 3, 2015	Jon S. Pilarski
		Jon S. Pilarski
		Chief Financial Officer

DATE:	April 3, 2015	/s/ Martin R. Fransted
		Martin R. Fransted
		Corporate Controller

INDEX TO EXHIBITS


Exhibit Number		Descriptions

10		Material Contracts

31.1		Certification of Chief Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002-Rule 13a-14(a)/15d-14(a)

31.2		Certification of Chief Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002-Rule 13a-14(a)/15d-14(a)

32		Certification of Chief Executive Officer and Chief Financial Pursuant to 18 U.S.C. Section 1350 as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

101.INS		XBRL Instance Document.

101.SCH		XBRL Taxonomy Extension Schema Document.

101.CAL		XBRL Taxonomy Extension Calculation Linkbase Document.

101.DEF		XBRL Taxonomy Definition Linkbase Document.

101.LAB		XBRL Taxonomy Extension Label Linkbase Document.

101.PRE		XBRL Taxonomy Extension Presentation Linkbase Document.

EX-10 2 d897846dex10.htm EX-10 EX-10

Exhibit (10)

Material Contracts

1989 DEFERRED COMPENSATION PLAN

AS AMENDED AND RESTATED

Skyline Corporation, an Indiana corporation (“Company”) established the 1989 Deferred Compensation Plan (“Plan”) to attract and retain key executives and to provide a level of retirement income complimentary to the current income level of those key executives. The 1989 Deferred Compensation Plan is now being restated for Section 409A of the Internal Revenue Code (Section 409A).

Eligibility. The current Participants prior to January 1, 2008 are listed on the attached Exhibit “A.” For new Participants after January 1, 2008, if any, the election to participate in this Plan shall be made by executing an election form within 30 days of being selected to participate in the Plan and by completing such other forms that may be required by the Plan administrator from time to time. (An individual who is eligible to participate in the Plan under this paragraph and elects to participate in the Plan is hereinafter referred to as “Participant”).

Status of Plan and Agreement. This Plan does not constitute a contract on the part of the Company to employ Participant or to continue Participant’s employment for any given period of time, either fixed or contingent. Moreover, Participant does not by this Plan agree to continue in the employment of Company for any specified interval of time. The employment relationship, therefore, shall continue for so long as, but only so long as, such employment is mutually satisfactory to both parties. The Plan, accordingly, does not constitute a contract of employment. The benefits payable under this Plan shall be independent of, and in addition to, any other agreement relating to Participant’s employment that may exist from time to time between the parties, or any other compensation payable by Company to Participant, whether by salary, bonus or otherwise. Company does not promise that Participant’s employment will be continued for such interval as to enable Participant to obtain all or any part of the benefits under this Plan.

Deferral of Compensation. Company and Participant agree that Participant’s compensation shall be as agreed to from time to time by the parties. Deferred compensation amounts, if any, payable to Participant are as set forth in Exhibit “A”. Payment of such amounts is contingent upon satisfaction of the provisions of this Plan.

4.	Deferred Compensation Upon Termination of Employment.

(a)

Retirement On or After Eligibility Date. If Participant’s employment with Company is terminated because of Retirement (as hereinafter defined) on or after the Eligibility date set forth on Exhibit “A” (“Eligibility Date”), Company shall pay to Participant annual deferred compensation in the amount set forth on Exhibit “A”. Payments under this subparagraph 4(a) shall be made monthly for a period of 10 years following Participant’s Retirement.

(b)

Permanent Disability. If Participant becomes Permanently Disabled (as hereinafter defined in paragraph 4(h)) while still employed by Company, and having complied with the terms of the Plan, Company shall pay to Participant annual deferred compensation in the amount set forth in Exhibit “A” less any amount Participant is entitled to receive under Company’s disability insurance policy then in effect. Further, if Participant’s disability insurance benefits expire prior to the date 10 years after the original disability date, Company shall pay annual deferred compensation in the amount set forth on Exhibit “A” until 10 years after the original disability date.

(c)

Death While Still Employed. If Participant dies while still employed by Company, and having complied with the terms of the Plan, Company shall pay to Participant’s beneficiaries deferred compensation in the amount set forth on Exhibit “A”. Payments under this subparagraph 4(c) shall be made monthly for a period of 10 years following Participant’s death.

(d)

Death Following Retirement or Permanent Disability. If Participant dies after having retired from Company, or having terminated employment because of Permanent Disability, the total duration of payments under this Plan for Retirement or Permanent Disability (whichever is applicable), and death benefits shall be 10 years from the date of Retirement or Permanent Disability (whichever is applicable), provided that Participant was not employed in a business in competition with Company in violation of paragraph 8. In the event of death the beneficiary shall receive the annual death benefit amount for the remaining portion of the 10-year payout.

(e)

Termination of Employment Prior to Eligibility Date. If Participant’s employment with Company is terminated prior to the Eligibility Date for any reason other than death or Permanent Disability, Participant shall not be entitled to benefits under this Plan.

(f)

Commencement of Payment. Qualifications for payments of deferred compensation as described on Exhibit “A” under the Plan shall be determined by the Board of Directors of Company. To determine qualification for payments, the Board might need to confirm the Participant or beneficiary meets the requirements of paragraphs 4, 5, 6, 7 and 8 or other paragraphs of the Plan. After qualification is determined, such payments will commence not later than ninety (90) days following the date of Retirement, Permanent Disability or death.

Notwithstanding any other provision of the Agreement to the contrary, in the case of Specified Employees (as defined under Section 409A of the Code) receiving benefits as a result of Retirement, the payment shall not be made before the date that is six (6) months after the date of separation from service (or, if earlier, the date of death of the Specified Employee). The manner of commencement and date of commencement shall be determined by the Board of Directors consistent with any rules promulgated under Section 409A and valid regulations issued thereunder. For example, the arrangement could provide to the extent consistent with those rules, that payments to which a Specified Employee would otherwise be entitled to receive during the first six (6) months following the date of separation from service would be accumulated and paid at another specified date such as the first date of the seventh month following the date of separation from service.

The arrangement selected by the Directors could, to the extent permitted by final rules, provide that each installment payment to the Specified Employee would simply be delayed by six (6) months, with the first installment to begin the first day of the seventh month and remaining installments paid on the first day of each month thereafter.

(g)

Retirement. As used herein, the term “Retirement” shall mean the termination of Participant’s employment with Company on or after the date of eligibility for reasons other than Permanent Disability, death or gross misconduct.

(h)

Permanent Disability. An inability to engage in any substantial gainful activity by reason of any medically-determined physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than 12 months, or the receipt of income replacement benefits for a period of not less than three months under an accident and health plan covering employees of the Company by reason of any medically-determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than 12 months, all as determined by the Plan Administrator in accordance with Section 409A.

Beneficiaries. Participant shall have the right to designate in writing a beneficiary (or beneficiaries) to receive all or any part of the benefits which may be payable to such beneficiary in the event of Participant’s death under the terms of this Plan. Such written designation of beneficiary shall be on a form acceptable to Company, signed by Participant and filed with the Chief Executive Officer of Company. Such designation may include primary and contingent beneficiaries, and any beneficiary designation made by Participant may be changed from time to time by similar written action. If Participant dies without any effective or living beneficiary designated as provided in this paragraph, any payments owing Participant under this Plan shall be paid to his spouse, if any, otherwise to the estate of Participant.

Vesting. The rights of Participant to amounts deferred under this Plan shall vest at age 60 for Social Security tax purposes. Notwithstanding the foregoing, if there is a change in control of the Company (defined as a change in ownership of more than 50% of the Company’s stock in one transaction) the rights of Participants shall vest at the time of such transaction. The actual payment to the Participant shall continue to commence upon the eligibility dates set forth on Exhibit A.

Forfeiture of Benefits. If Participant’s employment with Company is terminated at any time because of gross misconduct, including but not limited to theft, embezzlement, or any other criminal action or action related to his employment involving moral turpitude, whether or not criminal or civil prosecution thereof is sought or enforced, as determined in the sole discretion of Company’s Board of Directors, or if at any time Participant enters into competition with Company or its associated corporations or subsidiaries, in violation of the non-compete provisions in paragraph 8, Participant’s right to receive benefits under the Plan, if any, shall terminate immediately and Company shall have no further obligation to Participant or his heirs under this Plan.

Non-Compete. Participant agrees he will not, at any time, directly or indirectly own, manage, operate, control, participate in, enter employment with, or be connected in any manner with any person, partnership, entity or corporation engaged in or about to be engaged in producing, marketing, selling, leasing, servicing or distributing of any product and/or service which is directly or indirectly competitive with any product and/or service produced, marketed, sold, leased, distributed or serviced by Company or its associated corporations or subsidiaries. This provision of the Plan shall be binding only in the geographic areas in which Company or its corporations or subsidiaries does or has done business. Doing business includes those areas where the Company has sales. Participant agrees the determination of Company’s Board of Directors shall be final and binding on the issue of whether Participant’s actions are or will be in violation of this paragraph. Participant may seek and the Board of Directors shall provide an advance determination as to whether Participant’s proposed actions will result in competition with Company.

Information. Participant agrees to provide information regarding his employment as reasonably requested by Company from time to time to determine whether Participant is in competition with Company in violation of paragraph 8. Company may appoint a committee to review the information relating to Participant’s employment.

10.	Manner of Payment. Payments of deferred amounts shall be made in cash. Company may deduct from the amount of all distributions hereunder any federal, state or local taxes that may be due on the payment of the deferred compensation.

11.

Term. This Plan shall become effective as of the date first written above, and shall remain in effect for each succeeding calendar year unless Company terminates or amends it by action of its Board of Directors. However, any such termination or amendment will not adversely affect any rights of Participants that are already vested. This Plan may be amended or terminated by the Corporation at any time without notice or consent of any person pursuant to resolutions adopted by the Corporation. Any such amendment or termination shall take effect as of the date specified therein and, to the extent permitted by law, may have retroactive effect. However, no such amendment or termination shall reduce the amounts then credited to Participant’s account balance. If the Plan is terminated, benefits will be distributed in accordance with Internal Revenue Code Section 409A and any valid regulations issued thereunder as finalized.

Notwithstanding any other provision of the Plan to the contrary, the Plan can be amended by the Corporation at any time and retroactively if required to the extent that, in the opinion of the Corporation, such amendment shall be necessary in order to insure the Plan will be characterized as a Plan maintained for a select group of management or highly-compensated employees as described in Sections 201(2), 301(a)(3), and 401(a)(1) of ERISA, or to conform the Plan to the requirements of any applicable law, including without limitation, ERISA, Section 409A of the Internal Revenue Code, and any other provision of the Internal Revenue Code. No such amendment shall be considered prejudicial to any interest of a Participant or beneficiary hereunder.

12.

Funding. The obligations of Company hereunder are intended to be paid out of its general assets or, in Company’s absolute discretion, through a funding program including insurance or annuity contracts or bank accounts to be owed by Company. Company reserves the absolute right in its sole and exclusive discretion either to fund the obligations of Company undertaken by this Plan or to refrain from funding the same, and to determine the extent, nature and method of such funding.

If Company elects to fund this Plan in part or in whole, through the medium of bank or bookkeeping accounts, insurance contracts or annuities, or a combination thereof, Company shall retain sole ownership and control over such funds, and reserves the absolute right, in its sole discretion, to terminate such accounts, insurance contracts or annuities, as well as any other funding program, at any time, and either in part or in whole. At no time shall Participant be deemed to have any right, title or interest in or to any specified asset or assets of Company, including, but not by way of restriction, any bookkeeping or bank accounts, insurance or annuity contracts or the proceeds therefrom. At the request of Company, however, Participant shall submit to medical examination and supply such information and execute such documents as may be required by any insurance company to whom application has been made for insurance.

13.	Assignment by Company. This Plan shall inure to the benefit of Company, its transferees, successors and assigns and shall be binding upon the transferees, successors and assigns of Company.

14.

Assignment by Participant. All payments to be made under this Plan by Company shall be made either to Participant, any guardian who may be appointed by him, a beneficiary or beneficiaries nominated in writing by him to receive any payments to be made after his demise, his estate, and to no other person or entity. Payments to be made hereunder by Company shall not be transferable by Participant by assignment or otherwise (except as transferred pursuant to such nomination of beneficiary, to the terms of his last will and testament, if any, and if applicable, or in accord with the governing laws of intestacy), shall not be subject to advance commutation or encumbrance and insofar as legally possible so to do, shall not be subject to the claims of any creditor of Participant. None of the payments provided for by this Plan shall be subject to seizure for payment of any debts or judgments against Participant or any beneficiary; nor shall Participant or any beneficiary have any right to transfer, modify, anticipate or encumber any rights or benefits hereunder provided, however, that the undistributed portion of any benefit payable hereunder shall at all times be subject to setoff for debts owed by Participant to Company. Any such attempted assignment, transfer, pledge or other conveyance shall not be recognized by Company.

15.

Construction. This Plan constitutes and expresses the complete understanding of the parties in reference to any deferred compensation arrangement, there being no oral or other plans or understandings between them affecting this Plan. This Plan shall be construed in accordance with the laws of the State of Indiana. The words of this instrument appearing as headings are for identification purposes only and are not a part of this Plan.

16.

Notices. All notices which are or may be given to Company shall be given at Skyline Corporation, 2520 By-Pass Road, P.O. Box 743, Elkhart, Indiana 46515. All notices which are or may be given to Participant shall be given at the last address given by Company by Participant. Either party may notify the other in writing of another or different address to which notices shall be sent and the last address so furnished shall be binding upon the parties. Notice in writing shall be deemed to have been given when posted by registered or certified mail, return receipt requested, addressed to the person to receive the same at such last designated address and shall be deemed to have been given on the date and at the hour of posting.

Section 409A. It is intended that this Plan shall conform with all applicable requirements of Section 409A. As such, in interpreting, construing or applying any of the foregoing definitions or any of the terms, conditions or provisions of the Plan, the same shall be construed in such manner and shall meet and comply with Section 409A of the Internal Revenue Code, any valid proposed or final regulation issued thereunder, or any other rulings or interpretations or precedents under Section 409A.

“COMPANY”

SKYLINE CORPORATION


Date Signed:	December 17, 2007	By:	/s/ Thomas G. Deranek
			Thomas G. Deranek

EXHIBIT “A”

BENEFIT SCHEDULE


Name	Annual Death Benefit Amount		Annual Retirement Payment Amount		Eligibility Date

T. Deranek	$	75,000	$	75,000		05/31/06

W. Murschel	$	75,000	$	75,000		05/31/06

T. Decio	$	75,000	$	75,000		01/09/12

C. Chambliss	$	40,000	$	60,000		11/02/11

J. Pilarski	$	40,000	$	60,000		04/06/25

A. Decio	$	100,000	$	100,000		05/31/06

M. Kloska	$	100,000	$	0		05/31/06

D. Miller	$	30,000	$	0		05/31/06

K. Root	$	20,000	$	30,000		12/03/07

B. Page	$	40,000	$	60,000		10/10/14

M. Fransted	$	30,000	$	40,000		09/24/16

J. Holdread	$	30,000	$	40,000		10/28/20

EX-31.1 3 d897846dex311.htm EX-31.1 EX-31.1

Exhibit (31.1)

Certification of Chief Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002-Rule 13a-14(a)/15d –14(a)

I, Bruce G. Page, certify that:

1.	I have reviewed this quarterly report on Form 10-Q of Skyline Corporation (the “registrant”);

2.	Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.	Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this annual report is being prepared;

Designed such internal controls over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5.	The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of registrant’s board of directors (or persons performing the equivalent functions):

All significant deficiencies and material weaknesses in the design or operation of internal controls over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

/s/ Bruce G. Page

Bruce G. Page

Chief Executive Officer


Date:		April 3, 2015

EX-31.2 4 d897846dex312.htm EX-31.2 EX-31.2

Exhibit (31.2)

Certification of Chief Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002-Rule 13a-14(a)/15d –14(a)

I, Jon S. Pilarski, certify that:

1.	I have reviewed this quarterly report on Form 10-Q of Skyline Corporation (the “registrant”);

2.	Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.	Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

5.	The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of registrant’s board of directors (or persons performing the equivalent functions):

Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

/s/ Jon S. Pilarski

Jon S. Pilarski

Chief Financial Officer


Date:		April 3, 2015

EX-32 5 d897846dex32.htm EX-32 EX-32

Exhibit (32)

Certification of Chief Executive Officer and Chief Financial Officer

Pursuant to 18 U.S.C. Section 1350

as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

The undersigned hereby certifies that he is the duly appointed and acting Chief Executive Officer and Chief Financial Officer, respectively of Skyline Corporation, and hereby further certifies as follows:

The periodic report containing financial statements to which this certificate is an exhibit fully complies with the requirements of Section 13(a) or 15 (d) of the Securities Exchange Act of 1934.

The information contained in the periodic report to which this certificate is an exhibit fairly presents, in all material respects, the financial condition and results of operations of the Corporation.

In witness whereof, the undersigned have executed and delivered this certificate as of the date set forth opposite his signature below.


DATE:	April 3, 2015	/s/ Bruce G. Page
		Bruce G. Page
		Chief Executive Officer

DATE:	April 3, 2015	/s/ Jon S. Pilarski
		Jon S. Pilarski
		Chief Financial Officer

EX-101.INS 6 sky-20150228.xml XBRL INSTANCE DOCUMENT

135000

18.2

175000

806000

0.50 8391244

102563000

3921000

2200000

96851000

6121000

5275000

1200000

700000

1900000

87074000

11217144

15000000

2825900

0.0277

100000

3722000

47019000

2000000

338000

13788000

157000

13505000

312000

84077000

6334000

117000

4928000

1594000

23573000

2888000

50866000

5722000

3606000

1640000

7171000

5171000

6511000

5751000

3586000

13263000

50000000

39720000

298000

5000000

708000

35000000

60282000

50866000

7000000

9307000

62000000

13089000

492000

4933000

194000

2848000

16976000

753000

6892000

65744000

30711000

8000000

6 2137000 13263000 64000 1

0.059

217000

965000

9000

24000000

0.0375

10000000

106155000

5882000

11838000

11217144

15000000

2825900

0.0277

100000

3697000

46036000

2000000

3024000

18247000

186000

13720000

312000

94291000

6334000

2089000

4928000

2255000

33787000

3695000

65754000

5697000

2526000

3050000

7386000

5386000

6452000

9812000

5135000

3586000

50000

14042000

39254000

4770000

318000

1581000

60078000

65754000

1911000

8627000

63000000

16259000

7473000

6031000

2703000

3174000

17238000

542000

6550000

65744000

41670000

7901000 2688000 15953000 419000 330000 3

165000

9000

33000000

2000

73000

-901000

P10D 1600000

0.0025

P3Y

150000

0.030 50000 P1Y 600000 1000 0.0025 0.0025

-9127000

-0.44

-1.11

-0.67

8391244

4106000

28999000

-600000

8189000

107040000

32000

2502000

462000

-5710000

-1000

-3669000

-5635000

26989000

-3669000

-221000

-5635000

-3669000

649000

-9304000

75000

1723000

14361000

98851000

-6563000

2564000

35000

1304000

958000

3400000

30998000

3867000

118000

-527000

4 8

<div> Inventories — Inventories are stated at the lower of cost or market. Cost is determined under the first-in, first-out method. Physical inventory counts are taken at the end of each reporting quarter. </div>

10-Q SKYLINE CORP SKY

<div> Income Taxes — The Corporation recognizes deferred tax assets based on differences between the carrying values of assets for financial and tax reporting purposes. The realization of the deferred tax assets is dependent upon the generation of sufficient future taxable income. Generally accepted accounting principles require that an entity consider both negative and positive evidence in determining whether a valuation allowance is warranted. In comparing negative and positive evidence, continual losses in recent years is considered significant, negative, objective evidence that deferred tax assets may not be realized in the future, and generally is assigned more weight than subjective positive evidence of the realizability of deferred tax assets. As a result of its extensive evaluation of both positive and negative evidence, management maintains a full valuation allowance against its deferred tax assets. The Corporation reports a liability, if any, for unrecognized tax benefits resulting from uncertain tax positions taken or expected to be taken in a tax return. The Corporation recognizes interest and penalties, if any, related to unrecognized tax benefits in income tax expense. </div>

<div> Total inventories from continuing operations consist of the following:   <table cellspacing="0" cellpadding="0" width="76%" border="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" align="center"> <tr> <td width="70%"></td> <td valign="bottom" width="10%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="10%"></td> <td></td> <td></td> <td></td> </tr> <tr style="font-family:Times New Roman; font-size:8pt"> <td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"> February 28, 2015</td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"> May 31, 2014</td> <td valign="bottom"> </td> </tr> <tr style="font-family:Times New Roman; font-size:8pt"> <td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom" colspan="6" align="center">(Dollars in thousands)</td> <td valign="bottom"> </td> </tr> <tr bgcolor="#CCEEFF" style="font-family:Times New Roman; font-size:10pt"> <td valign="top"> Raw materials </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">5,751</td> <td nowrap="nowrap" valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">5,135</td> <td nowrap="nowrap" valign="bottom">  </td> </tr> <tr style="font-family:Times New Roman; font-size:10pt"> <td valign="top"> Work in process </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">2,848</td> <td nowrap="nowrap" valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">3,174</td> <td nowrap="nowrap" valign="bottom">  </td> </tr> <tr bgcolor="#CCEEFF" style="font-family:Times New Roman; font-size:10pt"> <td valign="top"> Finished goods </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">708</td> <td nowrap="nowrap" valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">318</td> <td nowrap="nowrap" valign="bottom">  </td> </tr> <tr style="font-size:1px;"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> </tr> <tr style="font-family:Times New Roman; font-size:10pt"> <td valign="top"></td> <td valign="bottom"></td> <td valign="bottom">$</td> <td valign="bottom" align="right">9,307</td> <td nowrap="nowrap" valign="bottom">  </td> <td valign="bottom"></td> <td valign="bottom">$</td> <td valign="bottom" align="right">8,627</td> <td nowrap="nowrap" valign="bottom">  </td> </tr> <tr style="font-size:1px;"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> </tr> </table> </div>

Smaller Reporting Company

-5014000

<div> Revenue recognition — Substantially all of the Corporation’s products are made to order. Revenue is recognized upon completion of the following: an order for a unit is received from a dealer or community (customer); written or verbal approval for payment is received from a customer’s financial institution or payment is received; a common carrier signs documentation accepting responsibility for the unit as agent for the customer; and the unit is removed from the Corporation’s premises for delivery to a customer. Freight billed to customers is considered sales revenue, and the related freight costs are cost of sales. Volume based rebates paid to dealers are classified as a reduction of sales revenue. Sales of parts are classified as revenue. </div>

<div> Note Receivable — The Corporation’s note receivable represents the amount owed for the sale of two idle recreational vehicle facilities in Hemet, California; less cash received on the date of closing and cash received from principal repayments. The note was fully repaid in December 2014. </div>

<div> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 12pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px"> The following table summarizes the results of discontinued operations: <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 12pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">   <table style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; WIDOWS: 1; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="92%" align="center" border="0"> <tr> <td width="70%"></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td></td> </tr> <tr style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman'"> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="6" nowrap="nowrap" align="center">Three-Months Ended February 28,</td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="6" nowrap="nowrap" align="center">Nine-Months Ended February 28,</td> <td valign="bottom"> </td> </tr> <tr style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman'"> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="2" align="center">2015</td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="2" align="center">2014</td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="2" align="center">2015</td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="2" align="center">2014</td> <td valign="bottom"> </td> </tr> <tr style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman'"> <td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom" colspan="6" align="center"> (Dollars in thousands)</td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom" colspan="6" align="center"> (Dollars in thousands)</td> <td valign="bottom"> </td> </tr> <tr style="FONT-SIZE: 1pt"> <td height="8"></td> <td height="8" colspan="4"></td> <td height="8" colspan="4"></td> <td height="8" colspan="4"></td> <td height="8" colspan="4"></td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'" bgcolor="#CCEEFF"> <td valign="top"> Net Sales </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">52</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">8,603</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">9,767</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">26,989</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> </tr> <tr style="FONT-SIZE: 1pt"> <td height="8"></td> <td height="8" colspan="4"></td> <td height="8" colspan="4"></td> <td height="8" colspan="4"></td> <td height="8" colspan="4"></td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"> <td valign="top"> Operating loss of discontinued operations </td> <td valign="bottom"></td> <td valign="bottom">$</td> <td valign="bottom" align="right">(86</td> <td valign="bottom" nowrap="nowrap">) </td> <td valign="bottom"></td> <td valign="bottom">$</td> <td valign="bottom" align="right">(1,806</td> <td valign="bottom" nowrap="nowrap">) </td> <td valign="bottom"></td> <td valign="bottom">$</td> <td valign="bottom" align="right">(5,944</td> <td valign="bottom" nowrap="nowrap">) </td> <td valign="bottom"></td> <td valign="bottom">$</td> <td valign="bottom" align="right">(3,669</td> <td valign="bottom" nowrap="nowrap">) </td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'" bgcolor="#CCEEFF"> <td valign="top"> Loss on disposal of discontinued operations </td> <td valign="bottom"></td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right"> —  </td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"></td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right"> —  </td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"></td> <td valign="bottom"> </td> <td valign="bottom" align="right">(231</td> <td valign="bottom" nowrap="nowrap">) </td> <td valign="bottom"></td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right"> —  </td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"> <td valign="top"> Loss before income taxes </td> <td valign="bottom"></td> <td valign="bottom"> </td> <td valign="bottom" align="right">(86</td> <td valign="bottom" nowrap="nowrap">) </td> <td valign="bottom"></td> <td valign="bottom"> </td> <td valign="bottom" align="right">(1,806</td> <td valign="bottom" nowrap="nowrap">) </td> <td valign="bottom"></td> <td valign="bottom"> </td> <td valign="bottom" align="right">(6,175</td> <td valign="bottom" nowrap="nowrap">) </td> <td valign="bottom"></td> <td valign="bottom"> </td> <td valign="bottom" align="right">(3,669</td> <td valign="bottom" nowrap="nowrap">) </td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'" bgcolor="#CCEEFF"> <td valign="top"> Income tax benefit </td> <td valign="bottom"></td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right"> —  </td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"></td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right"> —  </td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"></td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right"> —  </td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"></td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right"> —  </td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"> <td valign="top"> Loss from discontinued operations, net of taxes </td> <td valign="bottom"></td> <td valign="bottom">$</td> <td valign="bottom" align="right">(86</td> <td valign="bottom" nowrap="nowrap">) </td> <td valign="bottom"></td> <td valign="bottom">$</td> <td valign="bottom" align="right">(1,806</td> <td valign="bottom" nowrap="nowrap">) </td> <td valign="bottom"></td> <td valign="bottom">$</td> <td valign="bottom" align="right">(6,175</td> <td valign="bottom" nowrap="nowrap">) </td> <td valign="bottom"></td> <td valign="bottom">$</td> <td valign="bottom" align="right">(3,669</td> <td valign="bottom" nowrap="nowrap">) </td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> The following is a summary of assets and liabilities of discontinued operations at February 28, 2015 and May 31, 2014: <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 12pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">   <table style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; WIDOWS: 1; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="76%" align="center" border="0"> <tr> <td width="70%"></td> <td valign="bottom" width="11%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="11%"></td> <td></td> <td></td> <td></td> </tr> <tr style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman'"> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="2" align="center">February 28, 2015</td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="2" align="center">May 31, 2014</td> <td valign="bottom"> </td> </tr> <tr style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman'"> <td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom" colspan="6" align="center">(Dollars in thousands)</td> <td valign="bottom"> </td> </tr> <tr style="FONT-SIZE: 1pt"> <td height="8"></td> <td height="8" colspan="4"></td> <td height="8" colspan="4"></td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'" bgcolor="#CCEEFF"> <td valign="top"> Current Assets: </td> <td valign="bottom">  </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"> <td valign="top"> Accounts receivable </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">298</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">4,770</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'" bgcolor="#CCEEFF"> <td valign="top"> Inventories </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">194</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">2,703</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"> <td valign="top"></td> <td valign="bottom"></td> <td valign="bottom">$</td> <td valign="bottom" align="right">492</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"></td> <td valign="bottom">$</td> <td valign="bottom" align="right">7,473</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> </tr> <tr style="FONT-SIZE: 1pt"> <td height="8"></td> <td height="8" colspan="4"></td> <td height="8" colspan="4"></td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'" bgcolor="#CCEEFF"> <td valign="top"> Property, Plant and Equipment: </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"> <td valign="top"> Property, plant and equipment, at cost </td> <td valign="bottom"></td> <td valign="bottom" nowrap="nowrap">$</td> <td valign="bottom" nowrap="nowrap" align="right"> —  </td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"></td> <td valign="bottom">$</td> <td valign="bottom" align="right">9,812</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'" bgcolor="#CCEEFF"> <td valign="top"> Less accumulated depreciation </td> <td valign="bottom"></td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right"> —  </td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"></td> <td valign="bottom"> </td> <td valign="bottom" align="right">7,901</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"> <td valign="top"></td> <td valign="bottom"></td> <td valign="bottom" nowrap="nowrap">$</td> <td valign="bottom" nowrap="nowrap" align="right"> —  </td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"></td> <td valign="bottom">$</td> <td valign="bottom" align="right">1,911</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> </tr> <tr style="FONT-SIZE: 1pt"> <td height="8"></td> <td height="8" colspan="4"></td> <td height="8" colspan="4"></td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'" bgcolor="#CCEEFF"> <td valign="top"> Current Liabilities: </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"> <td valign="top"> Accounts payable, trade </td> <td valign="bottom"></td> <td valign="bottom">$</td> <td valign="bottom" align="right">117</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"></td> <td valign="bottom">$</td> <td valign="bottom" align="right">2,089</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'" bgcolor="#CCEEFF"> <td valign="top"> Accrued salaries and wages </td> <td valign="bottom"></td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right"> —  </td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"></td> <td valign="bottom"> </td> <td valign="bottom" align="right">419</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"> <td valign="top"> Accrued marketing programs </td> <td valign="bottom"></td> <td valign="bottom"> </td> <td valign="bottom" align="right">64</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"></td> <td valign="bottom"> </td> <td valign="bottom" align="right">330</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'" bgcolor="#CCEEFF"> <td valign="top"> Other accrued liabilities </td> <td valign="bottom"></td> <td valign="bottom"> </td> <td valign="bottom" align="right">157</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"></td> <td valign="bottom"> </td> <td valign="bottom" align="right">186</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"> <td valign="top"></td> <td valign="bottom"></td> <td valign="bottom">$</td> <td valign="bottom" align="right">338</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"></td> <td valign="bottom">$</td> <td valign="bottom" align="right">3,024</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> </tr> </table> </div>

<div> Accounting Estimates — The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions. These estimates and assumptions affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, as well as the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Key estimates would include accruals for warranty, workers’ compensation, marketing programs and health insurance as well as valuations for long-lived assets and deferred tax assets. </div>

2015-02-28

<div> <table style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; WIDOWS: 1; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td valign="top" width="9%" align="left">NOTE 2</td> <td valign="top" align="left">Discontinued Operations</td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px"> During September 2014, the Corporation made a strategic decision to exit the recreational vehicle industry in order to focus on its core housing business. <p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 1px 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">   <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> As a result, on October 7, 2014 (“Closing Date”), the Corporation completed the sale of certain assets associated with its recreational vehicle segment (the “Transaction”) to Evergreen Recreational Vehicles, LLC (“ERV”). The Transaction was completed pursuant to the terms of an Asset Purchase Agreement entered into between the Corporation and ERV on the Closing Date, as well as the terms of a Real Property Purchase Agreement entered into on that same date between the Corporation and an affiliate of ERV, Skyline RE Holding LLC (which, collectively with ERV, is referred to herein as “Evergreen”). The assets of the recreational vehicle segment disposed of in the Transaction include: A recreational vehicle manufacturing facility consisting of approximately 135,000 square feet situated on 18.2 acres located in Bristol, Indiana; <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 6pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">   <table style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; WIDOWS: 1; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td width="1%"> </td> <td valign="top" width="2%" align="left">•</td> <td valign="top" width="1%"> </td> <td valign="top" align="left">Intellectual properties such as trademarks, licenses, and product designs associated with the recreational vehicle segment;</td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 6pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">   <table style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; WIDOWS: 1; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td width="1%"> </td> <td valign="top" width="2%" align="left">•</td> <td valign="top" width="1%"> </td> <td valign="top" align="left">Furniture, machinery, software, and equipment;</td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 6pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">   <table style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; WIDOWS: 1; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td width="1%"> </td> <td valign="top" width="2%" align="left">•</td> <td valign="top" width="1%"> </td> <td valign="top" align="left">Raw material and work-in-process inventories;</td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 6pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">   <table style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; WIDOWS: 1; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td width="1%"> </td> <td valign="top" width="2%" align="left">•</td> <td valign="top" width="1%"> </td> <td valign="top" align="left">Product designs, plans, and specifications; and</td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 6pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">   <table style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; WIDOWS: 1; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td width="1%"> </td> <td valign="top" width="2%" align="left">•</td> <td valign="top" width="1%"> </td> <td valign="top" align="left">Customer purchase orders and contracts, customer lists, and supplier lists.</td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 12pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> The amount and nature of the consideration received by the Corporation for the assets sold include: <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 6pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">   <table style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; WIDOWS: 1; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td width="1%"> </td> <td valign="top" width="2%" align="left">•</td> <td valign="top" width="1%"> </td> <td valign="top" align="left">A cash payment of $175,000;</td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 6pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">   <table style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; WIDOWS: 1; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td width="1%"> </td> <td valign="top" width="2%" align="left">•</td> <td valign="top" width="1%"> </td> <td valign="top" align="left">A separate cash payment of approximately $806,000, less prorated property taxes of approximately $73,000 and selling expenses of approximately $2,000, for the Bristol, Indiana manufacturing facility; and</td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 6pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">   <table style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; WIDOWS: 1; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td width="1%"> </td> <td valign="top" width="2%" align="left">•</td> <td valign="top" width="1%"> </td> <td valign="top" align="left">For six months following the Closing Date, Evergreen will pay the Corporation 50 percent of the Corporation’s cost for raw materials inventory purchased by the Corporation prior to the Closing Date within 10 days of Evergreen’s use of the raw material. After six months following the Closing Date, the Corporation will have the right to remove any remaining materials inventory from Evergreen’s possession.</td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 12pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px"> In addition, under the Asset Purchase Agreement Evergreen will not assume or agree to pay, perform, or discharge any of the Corporation’s liabilities or obligations, which will remain the liabilities and obligations of the Corporation. <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 12pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px"> The Bristol facility, and assets other than raw material and finished goods inventories, was sold at approximately net book value. Evergreen has the right, but not the obligation, to purchase the raw material inventory at 50 percent of the Corporation’s cost of approximately $1,600,000. There can be no assurances as to how much of the raw material inventory Evergreen will purchase. <p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 1px 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">   <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> Consequently, the Corporation incurred an approximate $901,000 charge in the second quarter reflecting the reduction in value of the raw material inventory plus raw material inventory that will not be used by Evergreen. Through February 28, 2015, Evergreen has paid the Corporation approximately $596,000 for raw material inventory. In future periods, there may be additional charges that could be material related to the discontinued operations of the recreational vehicle segment disposed of in the Transaction. <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 12pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px"> The following table summarizes the results of discontinued operations: <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 12pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">   <table style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; WIDOWS: 1; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="92%" align="center" border="0"> <tr> <td width="70%"></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td></td> </tr> <tr style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman'"> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="6" nowrap="nowrap" align="center">Three-Months Ended February 28,</td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="6" nowrap="nowrap" align="center">Nine-Months Ended February 28,</td> <td valign="bottom"> </td> </tr> <tr style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman'"> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="2" align="center">2015</td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="2" align="center">2014</td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="2" align="center">2015</td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="2" align="center">2014</td> <td valign="bottom"> </td> </tr> <tr style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman'"> <td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom" colspan="6" align="center"> (Dollars in thousands)</td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom" colspan="6" align="center"> (Dollars in thousands)</td> <td valign="bottom"> </td> </tr> <tr style="FONT-SIZE: 1pt"> <td height="8"></td> <td height="8" colspan="4"></td> <td height="8" colspan="4"></td> <td height="8" colspan="4"></td> <td height="8" colspan="4"></td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'" bgcolor="#CCEEFF"> <td valign="top"> Net Sales </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">52</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">8,603</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">9,767</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">26,989</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> </tr> <tr style="FONT-SIZE: 1pt"> <td height="8"></td> <td height="8" colspan="4"></td> <td height="8" colspan="4"></td> <td height="8" colspan="4"></td> <td height="8" colspan="4"></td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"> <td valign="top"> Operating loss of discontinued operations </td> <td valign="bottom"></td> <td valign="bottom">$</td> <td valign="bottom" align="right">(86</td> <td valign="bottom" nowrap="nowrap">) </td> <td valign="bottom"></td> <td valign="bottom">$</td> <td valign="bottom" align="right">(1,806</td> <td valign="bottom" nowrap="nowrap">) </td> <td valign="bottom"></td> <td valign="bottom">$</td> <td valign="bottom" align="right">(5,944</td> <td valign="bottom" nowrap="nowrap">) </td> <td valign="bottom"></td> <td valign="bottom">$</td> <td valign="bottom" align="right">(3,669</td> <td valign="bottom" nowrap="nowrap">) </td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'" bgcolor="#CCEEFF"> <td valign="top"> Loss on disposal of discontinued operations </td> <td valign="bottom"></td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right"> —  </td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"></td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right"> —  </td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"></td> <td valign="bottom"> </td> <td valign="bottom" align="right">(231</td> <td valign="bottom" nowrap="nowrap">) </td> <td valign="bottom"></td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right"> —  </td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"> <td valign="top"> Loss before income taxes </td> <td valign="bottom"></td> <td valign="bottom"> </td> <td valign="bottom" align="right">(86</td> <td valign="bottom" nowrap="nowrap">) </td> <td valign="bottom"></td> <td valign="bottom"> </td> <td valign="bottom" align="right">(1,806</td> <td valign="bottom" nowrap="nowrap">) </td> <td valign="bottom"></td> <td valign="bottom"> </td> <td valign="bottom" align="right">(6,175</td> <td valign="bottom" nowrap="nowrap">) </td> <td valign="bottom"></td> <td valign="bottom"> </td> <td valign="bottom" align="right">(3,669</td> <td valign="bottom" nowrap="nowrap">) </td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'" bgcolor="#CCEEFF"> <td valign="top"> Income tax benefit </td> <td valign="bottom"></td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right"> —  </td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"></td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right"> —  </td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"></td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right"> —  </td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"></td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right"> —  </td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"> <td valign="top"> Loss from discontinued operations, net of taxes </td> <td valign="bottom"></td> <td valign="bottom">$</td> <td valign="bottom" align="right">(86</td> <td valign="bottom" nowrap="nowrap">) </td> <td valign="bottom"></td> <td valign="bottom">$</td> <td valign="bottom" align="right">(1,806</td> <td valign="bottom" nowrap="nowrap">) </td> <td valign="bottom"></td> <td valign="bottom">$</td> <td valign="bottom" align="right">(6,175</td> <td valign="bottom" nowrap="nowrap">) </td> <td valign="bottom"></td> <td valign="bottom">$</td> <td valign="bottom" align="right">(3,669</td> <td valign="bottom" nowrap="nowrap">) </td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 12pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px"> Loss on disposal of discontinued operations consisted of a $901,000 charge associated with the reduction in value of raw material inventory, less a gain of approximately $670,000 resulting from the sale of two idle recreational vehicle manufacturing facilities in Elkhart, Indiana to Forest River Manufacturing, LLC. <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 12pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px"> The Corporation’s park model business, which was formerly reported in the recreational vehicle segment, was not disposed as part of the transaction with Evergreen and is now reported in the housing segment because net sales do not warrant separate segment reporting. <p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 1px 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">   <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> The following is a summary of assets and liabilities of discontinued operations at February 28, 2015 and May 31, 2014: <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 12pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">   <table style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; WIDOWS: 1; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="76%" align="center" border="0"> <tr> <td width="70%"></td> <td valign="bottom" width="11%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="11%"></td> <td></td> <td></td> <td></td> </tr> <tr style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman'"> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="2" align="center">February 28, 2015</td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="2" align="center">May 31, 2014</td> <td valign="bottom"> </td> </tr> <tr style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman'"> <td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom" colspan="6" align="center">(Dollars in thousands)</td> <td valign="bottom"> </td> </tr> <tr style="FONT-SIZE: 1pt"> <td height="8"></td> <td height="8" colspan="4"></td> <td height="8" colspan="4"></td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'" bgcolor="#CCEEFF"> <td valign="top"> Current Assets: </td> <td valign="bottom">  </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"> <td valign="top"> Accounts receivable </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">298</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">4,770</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'" bgcolor="#CCEEFF"> <td valign="top"> Inventories </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">194</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">2,703</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"> <td valign="top"></td> <td valign="bottom"></td> <td valign="bottom">$</td> <td valign="bottom" align="right">492</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"></td> <td valign="bottom">$</td> <td valign="bottom" align="right">7,473</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> </tr> <tr style="FONT-SIZE: 1pt"> <td height="8"></td> <td height="8" colspan="4"></td> <td height="8" colspan="4"></td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'" bgcolor="#CCEEFF"> <td valign="top"> Property, Plant and Equipment: </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"> <td valign="top"> Property, plant and equipment, at cost </td> <td valign="bottom"></td> <td valign="bottom" nowrap="nowrap">$</td> <td valign="bottom" nowrap="nowrap" align="right"> —  </td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"></td> <td valign="bottom">$</td> <td valign="bottom" align="right">9,812</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'" bgcolor="#CCEEFF"> <td valign="top"> Less accumulated depreciation </td> <td valign="bottom"></td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right"> —  </td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"></td> <td valign="bottom"> </td> <td valign="bottom" align="right">7,901</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"> <td valign="top"></td> <td valign="bottom"></td> <td valign="bottom" nowrap="nowrap">$</td> <td valign="bottom" nowrap="nowrap" align="right"> —  </td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"></td> <td valign="bottom">$</td> <td valign="bottom" align="right">1,911</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> </tr> <tr style="FONT-SIZE: 1pt"> <td height="8"></td> <td height="8" colspan="4"></td> <td height="8" colspan="4"></td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'" bgcolor="#CCEEFF"> <td valign="top"> Current Liabilities: </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"> <td valign="top"> Accounts payable, trade </td> <td valign="bottom"></td> <td valign="bottom">$</td> <td valign="bottom" align="right">117</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"></td> <td valign="bottom">$</td> <td valign="bottom" align="right">2,089</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'" bgcolor="#CCEEFF"> <td valign="top"> Accrued salaries and wages </td> <td valign="bottom"></td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right"> —  </td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"></td> <td valign="bottom"> </td> <td valign="bottom" align="right">419</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"> <td valign="top"> Accrued marketing programs </td> <td valign="bottom"></td> <td valign="bottom"> </td> <td valign="bottom" align="right">64</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"></td> <td valign="bottom"> </td> <td valign="bottom" align="right">330</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'" bgcolor="#CCEEFF"> <td valign="top"> Other accrued liabilities </td> <td valign="bottom"></td> <td valign="bottom"> </td> <td valign="bottom" align="right">157</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"></td> <td valign="bottom"> </td> <td valign="bottom" align="right">186</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"> <td valign="top"></td> <td valign="bottom"></td> <td valign="bottom">$</td> <td valign="bottom" align="right">338</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"></td> <td valign="bottom">$</td> <td valign="bottom" align="right">3,024</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 12pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px"> In accordance with the Asset Purchase Agreement, the Corporation is responsible for the payment of product warranty claims associated with recreational vehicles sold by the Corporation. Consequently, this obligation is not included in the liabilities of discontinued operations on the Consolidated Balance Sheets at February 28, 2015 and May 31, 2014. </div>

-0.74

<div> Property, Plant and Equipment — Property, plant and equipment are stated at cost. Depreciation is computed over the estimated useful lives of the assets using the straight-line method for financial statement reporting and accelerated methods for income tax reporting purposes. Estimated useful lives for significant classes of property, plant and equipment, including idle property, are as follows: Building and improvements 10 to 30 years; machinery and equipment 5 to 8 years. At February 28, 2015, idle property consisted of an idle manufacturing facility in Ocala, Florida. At May 31, 2014, idle property consisted of the aforementioned facility, and two manufacturing facilities in Elkhart, Indiana. The Corporation has the Ocala facility, and undeveloped land in McMinnville, Oregon presently for sale. Long-lived assets are reviewed for impairment whenever events indicate that the carrying amount of an asset may not be recoverable from projected future cash flows. If the carrying value of a long-lived asset is impaired, an impairment charge is recorded for the amount by which the carrying value of the long-lived asset exceeds its fair value. The Company believes no impairment of long-lived assets exists at February 28, 2015. </div>

false --05-31 2015

-1.22

-0.48

<div> <table style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; WIDOWS: 1; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td valign="top" width="9%" align="left">NOTE 1</td> <td valign="top" align="left">Nature of Operations, Accounting Policies of Consolidated Financial Statements</td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px"> The accompanying unaudited interim consolidated financial statements contain all adjustments (consisting of only normal recurring adjustments) necessary to present fairly the consolidated financial position as of February 28, 2015, in addition to the consolidated results of operations and consolidated cash flows for the three-month and nine-month periods ended February 28, 2015 and 2014. Due to the seasonal nature of the Corporation’s business, interim results are not necessarily indicative of results for the entire year. <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 12pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px"> The unaudited interim consolidated financial statements included herein have been prepared pursuant to the rules and regulations for reporting on Form 10-Q. Accordingly, certain information and footnote disclosures normally accompanying the annual consolidated financial statements have been omitted. The audited consolidated balance sheet as of May 31, 2014 and the unaudited interim consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Corporation’s latest annual report on Form 10-K. <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 12pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px"> Certain prior year amounts related to discontinued operations have been reclassified to conform to current year presentation. <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 12pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px"> The following is a summary of the accounting policies that have a significant effect on the Consolidated Financial Statements. <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 12pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px"> Accounting Estimates — The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions. These estimates and assumptions affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, as well as the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Key estimates would include accruals for warranty, workers’ compensation, marketing programs and health insurance as well as valuations for long-lived assets and deferred tax assets. <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 12pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px"> Revenue recognition — Substantially all of the Corporation’s products are made to order. Revenue is recognized upon completion of the following: an order for a unit is received from a dealer or community (customer); written or verbal approval for payment is received from a customer’s financial institution or payment is received; a common carrier signs documentation accepting responsibility for the unit as agent for the customer; and the unit is removed from the Corporation’s premises for delivery to a customer. Freight billed to customers is considered sales revenue, and the related freight costs are cost of sales. Volume based rebates paid to dealers are classified as a reduction of sales revenue. Sales of parts are classified as revenue. <p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 1px 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">   <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px"> Accounts Receivable — Trade receivables are based on the amounts billed to dealers and communities. The Corporation does not accrue interest on any of its trade receivables, nor does it have an allowance for credit losses due to favorable collections experience. If a loss occurs, the Corporation’s policy is to recognize it in the period when collectability cannot be reasonably assured. <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 12pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px"> Inventories — Inventories are stated at the lower of cost or market. Cost is determined under the first-in, first-out method. Physical inventory counts are taken at the end of each reporting quarter. <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 12pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px"> Workers’ Compensation Security Deposit — Deferred workers’ compensation deposit represents funds placed with the Corporation’s worker’s compensation insurance carrier to offset future medical claims and benefits. <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 12pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px"> Note Receivable — The Corporation’s note receivable represents the amount owed for the sale of two idle recreational vehicle facilities in Hemet, California; less cash received on the date of closing and cash received from principal repayments. The note was fully repaid in December 2014. <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 12pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px"> Property, Plant and Equipment — Property, plant and equipment are stated at cost. Depreciation is computed over the estimated useful lives of the assets using the straight-line method for financial statement reporting and accelerated methods for income tax reporting purposes. Estimated useful lives for significant classes of property, plant and equipment, including idle property, are as follows: Building and improvements 10 to 30 years; machinery and equipment 5 to 8 years. At February 28, 2015, idle property consisted of an idle manufacturing facility in Ocala, Florida. At May 31, 2014, idle property consisted of the aforementioned facility, and two manufacturing facilities in Elkhart, Indiana. The Corporation has the Ocala facility, and undeveloped land in McMinnville, Oregon presently for sale. <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 12pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px"> Long-lived assets are reviewed for impairment whenever events indicate that the carrying amount of an asset may not be recoverable from projected future cash flows. If the carrying value of a long-lived asset is impaired, an impairment charge is recorded for the amount by which the carrying value of the long-lived asset exceeds its fair value. The Company believes no impairment of long-lived assets exists at February 28, 2015. <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 12pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px"> Warranty — The Corporation provides the retail purchaser of its homes, park models and recreational vehicles with a full fifteen-month warranty against defects in design, materials and workmanship. The warranties are backed by service departments located at the Corporation’s manufacturing facilities and an extensive field service system. <p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 1px 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">   <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px"> Warranty (continued) — Estimated warranty costs are accrued at the time of sale based upon current sales, historical experience and management’s judgment regarding anticipated rates of warranty claims. The adequacy of the recorded warranty liability is periodically assessed and the amount is adjusted as necessary. <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 12pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px"> Income Taxes — The Corporation recognizes deferred tax assets based on differences between the carrying values of assets for financial and tax reporting purposes. The realization of the deferred tax assets is dependent upon the generation of sufficient future taxable income. <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 12pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px"> Generally accepted accounting principles require that an entity consider both negative and positive evidence in determining whether a valuation allowance is warranted. In comparing negative and positive evidence, continual losses in recent years is considered significant, negative, objective evidence that deferred tax assets may not be realized in the future, and generally is assigned more weight than subjective positive evidence of the realizability of deferred tax assets. As a result of its extensive evaluation of both positive and negative evidence, management maintains a full valuation allowance against its deferred tax assets. The Corporation reports a liability, if any, for unrecognized tax benefits resulting from uncertain tax positions taken or expected to be taken in a tax return. The Corporation recognizes interest and penalties, if any, related to unrecognized tax benefits in income tax expense. <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 12pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px"> Recently issued accounting pronouncements — In April 2014, the Financial Accounting Standards Board issued Accounting Standards Update (ASU) No. 2014-08 Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity. ASU No. 2014-08 changes the requirements for reporting discontinued operations in that a discontinued operation may include a component of an entity, a group of components of an entity, or a business or non-profit activity. In addition, a disposal of a component of an entity or a group of components of an entity is required to be reported in discontinued operations if the disposal represents a strategic shift that has or will have a major effect on an entity’s operations and financial results when certain conditions are met. For public business entities, ASU No. 2014-08 is effective for all disposals (or classifications as held for sale) of components of an entity that occur within annual periods beginning on or after December 15, 2014, and interim periods within those years. Early adoption is permitted, but only for disposals (or classifications as held for sale) that have not been reported in financial statements previously issued or available for issuance. <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 12pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px"> The Corporation did not utilize early adoption of ASU No. 2014-08 regarding the sale of its recreational vehicle segment as referenced in Note 2. It will, however, adopt this pronouncement for any disposals (or classifications as held for sale) that may occur after May 31, 2015. <p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 1px 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">   <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px"> Management’s Plan — The Corporation’s consolidated financial statements were prepared on a going concern basis, which assumes continuity of operations and realization of assets and satisfaction of liabilities in the ordinary course of business. Due to recurring losses, the Corporation experienced negative cash flows from operating activities. The level of historical negative cash flows from operations and not having available funding from outside financing sources as of February 28, 2015 raise substantial doubt about the Corporation’s ability to continue as a going concern. To continue as a going concern, certain strategies need to be pursued to raise capital, increase sales and decrease costs. These strategies include but are not all inclusive: <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 6pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">   <table style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; WIDOWS: 1; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td width="4%"> </td> <td valign="top" width="3%" align="left">•</td> <td valign="top" width="1%"> </td> <td valign="top" align="left">Divest Non-Core Assets: Management is focused on driving profitable growth in the Corporation’s core housing business.</td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; MARGIN-LEFT: 125px; WIDOWS: 1; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> Progress: <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; MARGIN-LEFT: 125px; WIDOWS: 1; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> In October 2014, the Corporation sold its recreational vehicle segment to focus solely on its core housing business and to raise cash. Additional information regarding the sale is in Note 2 of Notes to Consolidated Financial Statements. <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; MARGIN-LEFT: 125px; WIDOWS: 1; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> In addition to the sale of the RV business, the Corporation sold two idle housing facilities and one undeveloped parcel of land in fiscal 2014 and is currently seeking buyers for an idle housing facility and an undeveloped parcel of land to raise cash and eliminate carrying costs. <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 6pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">   <table style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; WIDOWS: 1; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td width="4%"> </td> <td valign="top" width="3%" align="left">•</td> <td valign="top" width="1%"> </td> <td valign="top" align="left">Optimize Manufacturing Footprint: Through an ongoing assessment of the strategic positioning of Skyline’s manufacturing facilities, Management has successfully executed initiatives to optimize financial performance by reducing costs and gaining efficiencies at each facility.</td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; MARGIN-LEFT: 125px; WIDOWS: 1; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> Progress: <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; MARGIN-LEFT: 125px; WIDOWS: 1; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> The Corporation continues to show improvement over fiscal 2014. In the third quarter, excluding the Mansfield facility which has not yet been operating for a full year, four of the Corporation’s eight housing facilities had operating profits for the third quarter of fiscal 2015. By comparison, two of the Corporation’s eight housing facilities had operating profits for the third quarter of fiscal 2014. <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; MARGIN-LEFT: 125px; WIDOWS: 1; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> Similarly, in the first nine months of fiscal 2015, excluding Mansfield, seven of the Corporation’s eight housing facilities had operating profits. By comparison, in the first nine months of fiscal 2014, four of the eight housing facilities had operating profits. <p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 1px 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 6px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">   <table style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; WIDOWS: 1; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td width="4%"> </td> <td valign="top" width="3%" align="left">•</td> <td valign="top" width="1%"> </td> <td valign="top" align="left">Increase Sales:</td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 6pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">   <table style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; WIDOWS: 1; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td width="8%"> </td> <td valign="top" width="4%" align="left">•</td> <td valign="top" width="1%"> </td> <td valign="top" align="left">Working to increase sales at the Mansfield, Texas housing facility by gaining a greater presence on the properties of manufactured housing dealers and manufactured housing communities.</td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 6pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">   <table style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; WIDOWS: 1; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td width="8%"> </td> <td valign="top" width="4%" align="left">•</td> <td valign="top" width="1%"> </td> <td valign="top" align="left">Continuing to work with manufactured housing communities to identify opportunities for increasing sales.</td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 6pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">   <table style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; WIDOWS: 1; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td width="8%"> </td> <td valign="top" width="4%" align="left">•</td> <td valign="top" width="1%"> </td> <td valign="top" align="left">Increasing sales of modular homes and park models by cultivating relationships with modular housing developers and campground owners that are outside the Corporation’s historical distribution channels.</td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 6pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">   <table style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; WIDOWS: 1; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td width="8%"> </td> <td valign="top" width="4%" align="left">•</td> <td valign="top" width="1%"> </td> <td valign="top" align="left">Establishing additional distribution channels and forging new strategic relationships.</td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; MARGIN-LEFT: 125px; WIDOWS: 1; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> Progress: <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; MARGIN-LEFT: 125px; WIDOWS: 1; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> The Mansfield facility continues to build sales since commencing operations in the third quarter of fiscal 2014. In the third quarter, where sales are traditionally lowest for the year, sales decreased 7 percent from the second to third quarters as compared to an approximately 23 percent decline for all of the housing facilities. <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; MARGIN-LEFT: 125px; WIDOWS: 1; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> For the first nine months of fiscal 2015, manufactured housing sales to the Corporation’s six largest communities increased approximately 40 percent compared with the first nine months of fiscal 2014. For the third quarter of fiscal 2015, sales to these communities increased approximately 41 percent compared with the third quarter of fiscal 2014. <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; MARGIN-LEFT: 125px; WIDOWS: 1; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> In the third quarter of fiscal 2015, net sales for modular housing and park models increased approximately 22 percent and 45 percent, respectively, compared with the third quarter of fiscal 2014. <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; MARGIN-LEFT: 125px; WIDOWS: 1; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> For the first nine months of fiscal 2015, net sales for modular housing and park models increased approximately 16 percent and 82 percent, respectively, compared with the first nine months of fiscal 2014. <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; MARGIN-LEFT: 125px; WIDOWS: 1; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> During the second quarter, the Corporation established a relationship with a manufactured housing retailer that specializes in internet-based marketing and provides factory tours to potential customers. This retailer operates retail sales centers located at the Corporation’s housing facilities. This relationship is expected to help drive additional sales by more fully exploiting this increasingly important distribution channel for the Corporation’s products. This initiative began generating sales to four locations in the third quarter. The Corporation expects one or two additional locations to be operating by the end of fiscal 2015. <p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 1px 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 6px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">   <table style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; WIDOWS: 1; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td width="4%"> </td> <td valign="top" width="3%" align="left">•</td> <td valign="top" width="1%"> </td> <td valign="top" align="left">Decrease Costs: Skyline continues to streamline costs with a focus on maximizing efficiencies and resources.</td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; MARGIN-LEFT: 125px; WIDOWS: 1; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> Progress: <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; MARGIN-LEFT: 125px; WIDOWS: 1; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> The Corporation’s Purchasing Department has obtained significant price concessions from certain suppliers and anticipates further savings from this initiative in the fourth quarter of the fiscal year. <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; MARGIN-LEFT: 125px; WIDOWS: 1; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> In addition, Management has continued to analyze staffing needs and make reductions when considered appropriate. In connection with the sale of the RV business, the Corporation also identified and implemented reductions in corporate personnel that should result in annualized savings of approximately $400,000. <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 6pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">   <table style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; WIDOWS: 1; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td width="4%"> </td> <td valign="top" width="3%" align="left">•</td> <td valign="top" width="1%"> </td> <td valign="top" align="left">Raise Additional Capital:</td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; MARGIN-LEFT: 125px; WIDOWS: 1; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> Progress: <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; MARGIN-LEFT: 125px; WIDOWS: 1; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> On March 20, 2015, the Corporation entered into a Loan and Security Agreement with First Business Capital Corp. providing for a renewable three-year secured revolving credit facility. Under the new credit facility, the Company may obtain loan advances up to a maximum of $10 million, subject to certain collateral-obligation ratios. Outstanding loan advances under the facility will bear interest at 3.75% in excess of The Wall Street Journal’s published one year LIBOR rate. The facility will be used to support the Company’s working capital needs and other general corporate purposes, and is secured by substantially all of the Company’s and its subsidiaries’ assets. Additional information regarding the revolving credit facility is in Note 11 of Notes to Consolidated Financial Statements. <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 12pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px"> Management believes that it will be able to execute their strategies as noted above. Management is prepared to modify these strategies as appropriate to meet prevailing business and market conditions. </div>

<div> Warranty — The Corporation provides the retail purchaser of its homes, park models and recreational vehicles with a full fifteen-month warranty against defects in design, materials and workmanship. The warranties are backed by service departments located at the Corporation’s manufacturing facilities and an extensive field service system.   Estimated warranty costs are accrued at the time of sale based upon current sales, historical experience and management’s judgment regarding anticipated rates of warranty claims. The adequacy of the recorded warranty liability is periodically assessed and the amount is adjusted as necessary. </div>

0000090896

Loan advances bear interest at 3.75% in excess of The Wall Street Journal's published one year LIBOR rate

<div> Recently issued accounting pronouncements — In April 2014, the Financial Accounting Standards Board issued Accounting Standards Update (ASU) No. 2014-08 Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity. ASU No. 2014-08 changes the requirements for reporting discontinued operations in that a discontinued operation may include a component of an entity, a group of components of an entity, or a business or non-profit activity. In addition, a disposal of a component of an entity or a group of components of an entity is required to be reported in discontinued operations if the disposal represents a strategic shift that has or will have a major effect on an entity’s operations and financial results when certain conditions are met. For public business entities, ASU No. 2014-08 is effective for all disposals (or classifications as held for sale) of components of an entity that occur within annual periods beginning on or after December 15, 2014, and interim periods within those years. Early adoption is permitted, but only for disposals (or classifications as held for sale) that have not been reported in financial statements previously issued or available for issuance. The Corporation did not utilize early adoption of ASU No. 2014-08 regarding the sale of its recreational vehicle segment as referenced in Note 2. It will, however, adopt this pronouncement for any disposals (or classifications as held for sale) that may occur after May 31, 2015. </div>

<div> Accounts Receivable — Trade receivables are based on the amounts billed to dealers and communities. The Corporation does not accrue interest on any of its trade receivables, nor does it have an allowance for credit losses due to favorable collections experience. If a loss occurs, the Corporation’s policy is to recognize it in the period when collectability cannot be reasonably assured. </div>

8391244

4932000

11537000

137380000

211000

-928000

-3810000

-6175000

-4039000

9767000

-6175000

-132000

-4039000

-5944000

178000

-10214000

50000

-7642000

670000

-231000

279000

15347000

125843000

551000

-1098000

3916000

6334000

1631000

1034000

-1077000

901000

4907000

-3382000

-516000

2 <div> Workers’ Compensation Security Deposit — Deferred workers’ compensation deposit represents funds placed with the Corporation’s worker’s compensation insurance carrier to offset future medical claims and benefits. </div> <div> Long-term liabilities, consisting of other deferred liabilities and life insurance loans include the following:   <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="76%" align="center" border="0"> <tr> <td width="70%"></td> <td valign="bottom" width="9%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="9%"></td> <td></td> <td></td> <td></td> </tr> <tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center">February 28, 2015</td> <td valign="bottom"> </td> <td valign="bottom">  </td> <td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center">May 31, 2014</td> <td valign="bottom"> </td> </tr> <tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"> <td valign="bottom"> </td> <td valign="bottom">  </td> <td valign="bottom" colspan="6" align="center">(Dollars in thousands)</td> <td valign="bottom"> </td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> Other deferred liabilities: </td> <td valign="bottom">  </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="top"> Deferred compensation expense </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">5,171</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">5,386</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> Accrued warranty and related expenses </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">2,000</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">2,000</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="top"> Total other deferred liabilities </td> <td valign="bottom"></td> <td valign="bottom"> </td> <td valign="bottom" align="right">7,171</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"></td> <td valign="bottom"> </td> <td valign="bottom" align="right">7,386</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> Life insurance loans </td> <td valign="bottom"></td> <td valign="bottom"> </td> <td valign="bottom" align="right">6,334</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"></td> <td valign="bottom"> </td> <td valign="bottom" align="right">6,334</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="top"></td> <td valign="bottom"></td> <td valign="bottom">$</td> <td valign="bottom" align="right">13,505</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"></td> <td valign="bottom">$</td> <td valign="bottom" align="right">13,720</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom">   </td> <td valign="bottom">   </td> <td> </td> </tr> </table> </div> <div> Management’s Plan — The Corporation’s consolidated financial statements were prepared on a going concern basis, which assumes continuity of operations and realization of assets and satisfaction of liabilities in the ordinary course of business. Due to recurring losses, the Corporation experienced negative cash flows from operating activities. The level of historical negative cash flows from operations and not having available funding from outside financing sources as of February 28, 2015 raise substantial doubt about the Corporation’s ability to continue as a going concern. To continue as a going concern, certain strategies need to be pursued to raise capital, increase sales and decrease costs. These strategies include but are not all inclusive:   <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td width="5%"> </td> <td valign="top" width="2%" align="left">•</td> <td valign="top" width="1%"> </td> <td valign="top" align="left">Divest Non-Core Assets: Management is focused on driving profitable growth in the Corporation’s core housing business.</td> </tr> </table> Progress: In October 2014, the Corporation sold its recreational vehicle segment to focus solely on its core housing business and to raise cash. Additional information regarding the sale is in Note 2 of Notes to Consolidated Financial Statements. In addition to the sale of the RV business, the Corporation sold two idle housing facilities and one undeveloped parcel of land in fiscal 2014 and is currently seeking buyers for an idle housing facility and an undeveloped parcel of land to raise cash and eliminate carrying costs.   <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td width="5%"> </td> <td valign="top" width="2%" align="left">•</td> <td valign="top" width="1%"> </td> <td valign="top" align="left">Optimize Manufacturing Footprint: Through an ongoing assessment of the strategic positioning of Skyline’s manufacturing facilities, Management has successfully executed initiatives to optimize financial performance by reducing costs and gaining efficiencies at each facility.</td> </tr> </table> Progress: The Corporation continues to show improvement over fiscal 2014. In the third quarter, excluding the Mansfield facility which has not yet been operating for a full year, four of the Corporation’s eight housing facilities had operating profits for the third quarter of fiscal 2015. By comparison, two of the Corporation’s eight housing facilities had operating profits for the third quarter of fiscal 2014. Similarly, in the first nine months of fiscal 2015, excluding Mansfield, seven of the Corporation’s eight housing facilities had operating profits. By comparison, in the first nine months of fiscal 2014, four of the eight housing facilities had operating profits.   <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td width="5%"> </td> <td valign="top" width="2%" align="left">•</td> <td valign="top" width="1%"> </td> <td valign="top" align="left">Increase Sales:</td> </tr> </table>   <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td width="9%"> </td> <td valign="top" width="3%" align="left">•</td> <td valign="top" width="1%"> </td> <td valign="top" align="left">Working to increase sales at the Mansfield, Texas housing facility by gaining a greater presence on the properties of manufactured housing dealers and manufactured housing communities.</td> </tr> </table>   <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td width="9%"> </td> <td valign="top" width="3%" align="left">•</td> <td valign="top" width="1%"> </td> <td valign="top" align="left">Continuing to work with manufactured housing communities to identify opportunities for increasing sales.</td> </tr> </table>   <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td width="9%"> </td> <td valign="top" width="3%" align="left">•</td> <td valign="top" width="1%"> </td> <td valign="top" align="left">Increasing sales of modular homes and park models by cultivating relationships with modular housing developers and campground owners that are outside the Corporation’s historical distribution channels.</td> </tr> </table>   <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td width="9%"> </td> <td valign="top" width="3%" align="left">•</td> <td valign="top" width="1%"> </td> <td valign="top" align="left">Establishing additional distribution channels and forging new strategic relationships.</td> </tr> </table> Progress: The Mansfield facility continues to build sales since commencing operations in the third quarter of fiscal 2014. In the third quarter, where sales are traditionally lowest for the year, sales decreased 7 percent from the second to third quarters as compared to an approximately 23 percent decline for all of the housing facilities. For the first nine months of fiscal 2015, manufactured housing sales to the Corporation’s six largest communities increased approximately 40 percent compared with the first nine months of fiscal 2014. For the third quarter of fiscal 2015, sales to these communities increased approximately 41 percent compared with the third quarter of fiscal 2014. In the third quarter of fiscal 2015, net sales for modular housing and park models increased approximately 22 percent and 45 percent, respectively, compared with the third quarter of fiscal 2014. For the first nine months of fiscal 2015, net sales for modular housing and park models increased approximately 16 percent and 82 percent, respectively, compared with the first nine months of fiscal 2014. During the second quarter, the Corporation established a relationship with a manufactured housing retailer that specializes in internet-based marketing and provides factory tours to potential customers. This retailer operates retail sales centers located at the Corporation’s housing facilities. This relationship is expected to help drive additional sales by more fully exploiting this increasingly important distribution channel for the Corporation’s products. This initiative began generating sales to four locations in the third quarter. The Corporation expects one or two additional locations to be operating by the end of fiscal 2015. <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td width="5%"> </td> <td valign="top" width="2%" align="left">•</td> <td valign="top" width="1%"> </td> <td valign="top" align="left">Decrease Costs: Skyline continues to streamline costs with a focus on maximizing efficiencies and resources.</td> </tr> </table> Progress: The Corporation’s Purchasing Department has obtained significant price concessions from certain suppliers and anticipates further savings from this initiative in the fourth quarter of the fiscal year. In addition, Management has continued to analyze staffing needs and make reductions when considered appropriate. In connection with the sale of the RV business, the Corporation also identified and implemented reductions in corporate personnel that should result in annualized savings of approximately $400,000.   <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td width="5%"> </td> <td valign="top" width="2%" align="left">•</td> <td valign="top" width="1%"> </td> <td valign="top" align="left">Raise Additional Capital:</td> </tr> </table> Progress: On March 20, 2015, the Corporation entered into a Loan and Security Agreement with First Business Capital Corp. providing for a renewable three-year secured revolving credit facility. Under the new credit facility, the Company may obtain loan advances up to a maximum of $10 million, subject to certain collateral-obligation ratios. Outstanding loan advances under the facility will bear interest at 3.75% in excess of The Wall Street Journal’s published one year LIBOR rate. The facility will be used to support the Company’s working capital needs and other general corporate purposes, and is secured by substantially all of the Company’s and its subsidiaries’ assets. Additional information regarding the revolving credit facility is in Note 11 of Notes to Consolidated Financial Statements. Management believes that it will be able to execute their strategies as noted above. Management is prepared to modify these strategies as appropriate to meet prevailing business and market conditions. </div> 0.40 2331000 7 8 P24M

0.074

P30Y

P8Y

P20Y P20Y P12M

0.042

P10Y

P5Y

P5Y P16Y 2014-12 2

670000

0.16

203000

43000

11 P15M 0.82 400000 596000

0.06

1700000

P20Y 2 P6Y 2

6334000

2 1 P24M P12M

-0.21

-0.68

-0.47

8391244

779000

30169000

300000

-3931000

-1806000

-3906000

8603000

-1806000

-3906000

-1806000

-5712000

25000

5010000

29390000

2 8

300000

-0.01

-0.36

-0.35

8391244

2338000

38109000

-2821000

-86000

-2911000

52000

-86000

-2911000

-86000

-2997000

2000

92000

5159000

35771000

0.23 0.41 4 8 0.07 0.22 0.45

162000

0000090896 sky:FairHavenVermontMember 2013-09-01 2013-11-30 0000090896 sky:ParkModelsMember 2014-12-01 2015-02-28 0000090896 sky:ModularHousingMember 2014-12-01 2015-02-28 0000090896 sky:MansfieldTexasMember 2014-12-01 2015-02-28 0000090896 2014-12-01 2015-02-28 0000090896 sky:HalsteadKansasMember 2013-12-01 2014-02-28 0000090896 2013-12-01 2014-02-28 0000090896 us-gaap:MinimumMember 2013-06-01 2014-05-31 0000090896 us-gaap:MaximumMember 2013-06-01 2014-05-31 0000090896 2013-06-01 2014-05-31 0000090896 sky:HemetCaliforniaMember 2012-06-01 2013-05-31 0000090896 sky:EvergreenRecreationalVehiclesLlcMember 2014-06-01 2015-02-28 0000090896 us-gaap:EmployeeSeveranceMember 2014-06-01 2015-02-28 0000090896 sky:ParkModelsMember 2014-06-01 2015-02-28 0000090896 sky:HomeSalesMember 2014-06-01 2015-02-28 0000090896 sky:RecreationalVehiclesMember 2014-06-01 2015-02-28 0000090896 sky:ModularHousingMember 2014-06-01 2015-02-28 0000090896 sky:RecreationalVehiclesMembersky:ElkhartIndianaMember 2014-06-01 2015-02-28 0000090896 sky:ElkhartIndianaMember 2014-06-01 2015-02-28 0000090896 sky:HemetCaliforniaMember 2014-06-01 2015-02-28 0000090896 us-gaap:DomesticCountryMemberus-gaap:MinimumMember 2014-06-01 2015-02-28 0000090896 us-gaap:StateAndLocalJurisdictionMemberus-gaap:MinimumMember 2014-06-01 2015-02-28 0000090896 us-gaap:OtherMachineryAndEquipmentMemberus-gaap:MinimumMember 2014-06-01 2015-02-28 0000090896 us-gaap:BuildingAndBuildingImprovementsMemberus-gaap:MinimumMember 2014-06-01 2015-02-28 0000090896 us-gaap:MinimumMemberus-gaap:LifeInsuranceSegmentMember 2014-06-01 2015-02-28 0000090896 us-gaap:MinimumMember 2014-06-01 2015-02-28 0000090896 us-gaap:DomesticCountryMemberus-gaap:MaximumMember 2014-06-01 2015-02-28 0000090896 us-gaap:StateAndLocalJurisdictionMemberus-gaap:MaximumMember 2014-06-01 2015-02-28 0000090896 us-gaap:OtherMachineryAndEquipmentMemberus-gaap:MaximumMember 2014-06-01 2015-02-28 0000090896 us-gaap:BuildingAndBuildingImprovementsMemberus-gaap:MaximumMember 2014-06-01 2015-02-28 0000090896 us-gaap:MaximumMemberus-gaap:LifeInsuranceSegmentMember 2014-06-01 2015-02-28 0000090896 us-gaap:MaximumMember 2014-06-01 2015-02-28 0000090896 2014-06-01 2015-02-28 0000090896 sky:RecreationalVehiclesMember 2013-06-01 2014-02-28 0000090896 2013-06-01 2014-02-28 0000090896 us-gaap:SubsequentEventMember 2015-03-20 2015-03-20 0000090896 sky:EvergreenRecreationalVehiclesLlcMember 2014-10-07 2014-10-07 0000090896 sky:RecreationalVehicleOperationsMemberus-gaap:ManufacturingFacilityMembersky:BristolMember 2014-10-07 2014-10-07 0000090896 us-gaap:SegmentDiscontinuedOperationsMember 2014-05-31 0000090896 us-gaap:LifeInsuranceSegmentMember 2014-05-31 0000090896 2014-05-31 0000090896 2013-05-31 0000090896 us-gaap:SubsequentEventMember 2015-03-20 0000090896 us-gaap:SegmentDiscontinuedOperationsMember 2015-02-28 0000090896 us-gaap:AutomobilesMember 2015-02-28 0000090896 us-gaap:LifeInsuranceSegmentMember 2015-02-28 0000090896 2015-02-28 0000090896 2014-11-30 0000090896 sky:RecreationalVehiclesMember 2014-02-28 0000090896 us-gaap:AutomobilesMember 2014-02-28 0000090896 2014-02-28 0000090896 2013-11-30 0000090896 2015-04-03 0000090896 sky:EvergreenRecreationalVehiclesLlcMember 2014-10-07 0000090896 sky:RecreationalVehicleOperationsMemberus-gaap:ManufacturingFacilityMembersky:BristolMember 2014-10-07 0000090896 sky:RecreationalVehicleOperationsMemberstpr:IN 2014-10-07 0000090896 sky:RecreationalVehicleOperationsMemberus-gaap:ManufacturingFacilityMembersky:BristolMemberstpr:IN 2014-10-07 utr:sqft utr:acre iso4217:USD pure shares iso4217:USD shares sky:Community sky:Property sky:Facility sky:Vehicle sky:Land

EX-101.SCH 7 sky-20150228.xsd XBRL TAXONOMY EXTENSION SCHEMA 101 - Document - Document and Entity Information link:calculationLink link:presentationLink link:definitionLink 103 - Statement - Consolidated Balance Sheets link:calculationLink link:presentationLink link:definitionLink 104 - Statement - Consolidated Balance Sheets (Parenthetical) link:calculationLink link:presentationLink link:definitionLink 105 - Statement - Consolidated Statements of Operations and Retained Earnings link:calculationLink link:presentationLink link:definitionLink 106 - Statement - Consolidated Statements of Cash Flows link:calculationLink link:presentationLink link:definitionLink 107 - Disclosure - Nature of Operations, Accounting Policies of Consolidated Financial Statements link:calculationLink link:presentationLink link:definitionLink 108 - Disclosure - Discontinued Operations link:calculationLink link:presentationLink link:definitionLink 109 - Disclosure - Inventories link:calculationLink link:presentationLink link:definitionLink 110 - Disclosure - Note Receivable link:calculationLink link:presentationLink link:definitionLink 111 - Disclosure - Other Assets link:calculationLink link:presentationLink link:definitionLink 112 - Disclosure - Warranty link:calculationLink link:presentationLink link:definitionLink 113 - Disclosure - Long-Term Liabilities link:calculationLink link:presentationLink link:definitionLink 114 - Disclosure - Income Taxes link:calculationLink link:presentationLink link:definitionLink 115 - Disclosure - Commitments and Contingencies link:calculationLink link:presentationLink link:definitionLink 116 - Disclosure - Gain on Sale of Idle Property, Plant and Equipment link:calculationLink link:presentationLink link:definitionLink 117 - Disclosure - Subsequent Events link:calculationLink link:presentationLink link:definitionLink 118 - Disclosure - Nature of Operations, Accounting Policies of Consolidated Financial Statements (Policies) link:calculationLink link:presentationLink link:definitionLink 119 - Disclosure - Discontinued Operations (Tables) link:calculationLink link:presentationLink link:definitionLink 120 - Disclosure - Inventories (Tables) link:calculationLink link:presentationLink link:definitionLink 121 - Disclosure - Warranty (Tables) link:calculationLink link:presentationLink link:definitionLink 122 - Disclosure - Long-Term Liabilities (Tables) link:calculationLink link:presentationLink link:definitionLink 123 - Disclosure - Nature of Operations, Accounting Policies of Consolidated Financial Statements - Additional Information (Detail) link:calculationLink link:presentationLink link:definitionLink 124 - Disclosure - Discontinued Operations - Additional Information (Detail) link:calculationLink link:presentationLink link:definitionLink 125 - Disclosure - Discontinued Operations - Results of Discontinued Operations (Detail) link:calculationLink link:presentationLink link:definitionLink 126 - Disclosure - Discontinued Operations - Summary of Assets and Liabilities of Discontinued Operations (Detail) link:calculationLink link:presentationLink link:definitionLink 127 - Disclosure - Inventories - Schedule of Inventories from Continuing Operations (Detail) link:calculationLink link:presentationLink link:definitionLink 128 - Disclosure - Note Receivable - Additional Information (Detail) link:calculationLink link:presentationLink link:definitionLink 129 - Disclosure - Other Assets - Additional Information (Detail) link:calculationLink link:presentationLink link:definitionLink 130 - Disclosure - Warranty - Reconciliation of Accrued Warranty and Related Expenses (Detail) link:calculationLink link:presentationLink link:definitionLink 131 - Disclosure - Warranty - Additional Information (Detail) link:calculationLink link:presentationLink link:definitionLink 132 - Disclosure - Long-Term Liabilities - Summary of Long-Term Liabilities Consisting of Other Deferred Liabilities and Life Insurance Loans (Detail) link:calculationLink link:presentationLink link:definitionLink 133 - Disclosure - Long-Term Liabilities - Additional Information (Detail) link:calculationLink link:presentationLink link:definitionLink 134 - Disclosure - Income Taxes - Additional Information (Detail) link:calculationLink link:presentationLink link:definitionLink 135 - Disclosure - Commitments and Contingencies - Additional Information (Detail) link:calculationLink link:presentationLink link:definitionLink 136 - Disclosure - Gain on Sale of Idle Property, Plant and Equipment - Additional Information (Detail) link:calculationLink link:presentationLink link:definitionLink 137 - Disclosure - Subsequent Events - Additional Information (Detail) link:calculationLink link:presentationLink link:definitionLink EX-101.CAL 8 sky-20150228_cal.xml XBRL TAXONOMY EXTENSION CALCULATION LINKBASE EX-101.DEF 9 sky-20150228_def.xml XBRL TAXONOMY EXTENSION DEFINITION LINKBASE EX-101.LAB 10 sky-20150228_lab.xml XBRL TAXONOMY EXTENSION LABEL LINKBASE Accounting Policies [Abstract] Accounting Policies [Abstract] Accounts, Notes, Loans and Financing Receivable [Line Items] Accounts, Notes, Loans and Financing Receivable [Line Items] Accounts Payable, Trade, Current Accounts payable, trade Accounts Receivable, Net, Current Accounts receivable Accrued Advertising, Current Accrued marketing programs Accrued Salaries, Current Accrued salaries and wages Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment Less accumulated depreciation Additional Paid in Capital, Common Stock Additional paid-in capital Adjustments, Noncash Items, to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities [Abstract] Adjustments to reconcile net loss to net cash used for operating activities: Amendment Flag Amendment Flag Area of Land Area of land Area of Real Estate Property Area of property Asset Impairment Charges Impairment of long-lived assets Assets Total Assets Assets [Abstract] ASSETS Assets, Current Total Current Assets Assets, Current [Abstract] Current Assets: Disposal Group, Including Discontinued Operation, Assets, Current Assets of discontinued operations Current Assets, Total Disposal Group, Including Discontinued Operation, Assets, Current [Abstract] Current Assets: Automobiles [Member] Recreational Vehicles [Member] Bristol [Member] Bristol [Member] Bristol [Member] Building and Building Improvements [Member] Building and Improvements [Member] Buildings and Improvements, Gross Buildings and improvements Capital expenditure limit. Capital Expenditure Limit Covenants limit on capital expenditures per year Cash Cash at end of period Cash at beginning of period Cash Cash and Cash Equivalents, Period Increase (Decrease) Net decrease in cash Cash Surrender Value of Life Insurance Cash surrender value of life insurance Commitment and contingencies potentially repurchase units period. Commitment And Contingencies Potentially Repurchase Units Period Period to potentially repurchase units Commitments and Contingencies Commitments and Contingencies - See Note 9 Commitments and Contingencies Disclosure [Abstract] Commitments and Contingencies Disclosure [Abstract] Commitments and Contingencies Disclosure [Text Block] Commitments and Contingencies Common Stock, Par or Stated Value Per Share Common stock, par value Common Stock, Shares Authorized Common stock, shares authorized Common Stock, Shares, Issued Common stock, shares issued Common Stock, Value, Issued Common stock, $.0277 par value, 15,000,000 shares authorized; issued 11,217,144 shares Cost of Goods and Services Sold Cost of sales Current Fiscal Year End Date Current Fiscal Year End Date Customer Refundable Fees, Refund Payments Settlements made during the period Debt Disclosure [Abstract] Debt Disclosure [Abstract] Debt Instrument, Interest Rate During Period Interest Rate Debt Instrument, Term Secured revolving credit facility term Debt, Weighted Average Interest Rate Weighted Average Interest Rate Deferred Compensation Liability, Classified, Noncurrent Deferred compensation expense Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] Deferred Credits and Other Liabilities, Noncurrent Other deferred liabilities Total other deferred liabilities Deferred Tax Assets, Gross Deferred tax assets Deferred Tax Assets, Net of Valuation Allowance Differences between financial and tax reporting Deferred Tax Assets, Operating Loss Carryforwards, Domestic Federal net operating loss and tax credit carryforwards Deferred Tax Assets, Operating Loss Carryforwards, State and Local State net operating loss carryforwards Deferred workers compensation deposit. Deferred Workers Compensation Deposit Workers' compensation security deposit Depreciation Depreciation Disclosure Longterm Liabilities [Abstract] Disclosure Longterm Liabilities [Abstract] Disclosure Longterm Liabilities [Abstract] Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax Gain on sale of assets associated with discontinued operations Discontinued Operation, Income (Loss) from Discontinued Operation, before Income Tax Loss before income taxes Discontinued Operation, Income (Loss) from Discontinued Operation During Phase-out Period, before Income Tax Loss on disposal of discontinued operations Discontinued Operations and Disposal Groups [Abstract] Discontinued Operations and Disposal Groups [Abstract] Discontinued Operation, Tax Effect of Income (Loss) from Discontinued Operation During Phase-out Period Income tax benefit Disposal Group, Including Discontinued Operation, Accounts, Notes and Loans Receivable, Net Accounts receivable Disposal Group, Including Discontinued Operation, Accounts Payable, Current Accounts payable, trade Disposal Group, Including Discontinued Operation, Accrued Liabilities, Current Other accrued liabilities Disposal group including discontinued operation accrued marketing programs current. Disposal Group Including Discontinued Operation Accrued Marketing Programs Current Accrued marketing programs Disposal group including discontinued operation accrued salaries and wages current. Disposal Group Including Discontinued Operation Accrued Salaries And Wages Current Accrued salaries and wages Disposal Group, Including Discontinued Operation, Assets, Noncurrent Assets of discontinued operations, net of accumulated depreciation Property, Plant and Equipment, Total Disposal Group, Including Discontinued Operation, Consideration Cash payment received as consideration for asset sold Disposal Group, Including Discontinued Operation, Deferred Tax Assets Deferred tax assets pertain to discontinued operations Disposal Group, Including Discontinued Operation, Operating Income (Loss) Operating loss of discontinued operations Disposal Group Including Discontinued Operation Property Plant And Equipment [Abstract] Disposal Group Including Discontinued Operation Property Plant And Equipment [Abstract] Property, Plant and Equipment: Disposal Group, Including Discontinued Operation, Property, Plant and Equipment, Noncurrent Property, plant and equipment, at cost Disposal Group, Including Discontinued Operation, Revenue Net Sales Disposal group including discontinued operations accumulated depreciation depletion and amortization property plant and equipment. Disposal Group Including Discontinued Operations Accumulated Depreciation Depletion And Amortization Property Plant And Equipment Less accumulated depreciation Disposal Groups, Including Discontinued Operations, Disclosure [Text Block] Discontinued Operations Disposal Groups, Including Discontinued Operations, Name [Domain] Disposal Groups, Including Discontinued Operations, Name [Domain] Document and entity information. Document And Entity Information [Abstract] Document And Entity Information [Abstract] Document Fiscal Period Focus Document Fiscal Period Focus Document Fiscal Year Focus Document Fiscal Year Focus Document Period End Date Document Period End Date Document Type Document Type Domestic Tax Authority [Member] Federal [Member] Earnings Per Share, Basic Basic loss per share Elkhart Indiana. Elkhart Indiana [Member] Elkhart Indiana [Member] Employee Severance [Member] Employee Severance [Member] Entity Central Index Key Entity Central Index Key Entity Common Stock, Shares Outstanding Entity Common Stock, Shares Outstanding Entity [Domain] Entity [Domain] Entity Filer Category Entity Filer Category Entity Registrant Name Entity Registrant Name Evergreen Recreational Vehicles Llc [Member] Evergreen Recreational Vehicles Llc [Member] Evergreen Recreational Vehicles LLC [Member] Fair Haven, Vermont. Fair Haven Vermont [Member] Fair Haven, Vermont [Member] Finance, Loans and Leases Receivable, Policy [Policy Text Block] Note Receivable Financing Receivables [Text Block] Note Receivable Gain (Loss) on Disposition of Property Plant Equipment Gain on the sale of idle facilities Gain on sale of idle facilities Gain on sale of idle property,plant and equipment Gain on sale of idle property, plant and equipment Gross Profit Gross profit Guarantor Obligations [Line Items] Guarantor Obligations [Line Items] Guarantees [Abstract] Guarantees [Abstract] Halstead Kansas. Halstead Kansas [Member] Halstead, Kansas [Member] Hemet, California. Hemet California [Member] Hemet California [Member] Home sales. Home Sales [Member] Home Sales [Member] INDIANA Bristol, Indiana Manufacturing Facility [Member] Income (Loss) from Continuing Operations Attributable to Parent Loss from continuing operations Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Extraordinary Items, Noncontrolling Interest Loss from continuing operations before income taxes Income (Loss) from Continuing Operations, Per Basic Share Loss per share from continuing operations Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest Loss from discontinued operations, net of income taxes Loss from discontinued operations,net of taxes Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Basic Share Loss per share from discontinued operations Income Statement [Abstract] Income Statement [Abstract] Disposal Group Name [Axis] Disposal Group Name [Axis] Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Table] Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Table] Income Tax Authority [Axis] Income Tax Authority [Axis] Income Tax Authority [Domain] Income Tax Authority [Domain] Income Tax Contingency [Line Items] Income Tax Contingency [Line Items] Income Tax Contingency [Table] Income Tax Contingency [Table] Income Tax Disclosure [Abstract] Income Tax Disclosure [Abstract] Income Tax Disclosure [Text Block] Income Taxes Income Tax Expense (Benefit) Benefit from income taxes Income Tax, Policy [Policy Text Block] Income Taxes Increase (Decrease) in Accounts Payable, Trade Accounts payable, trade Increase (Decrease) in Accounts Receivable Accounts receivable Increase (Decrease) in Accrued Interest Receivable, Net Accrued interest receivable Increase (Decrease) in Accrued Liabilities Accrued liabilities Increase (Decrease) in Inventories Inventories Increase (Decrease) in Operating Capital [Abstract] Change in assets and liabilities: Increase (Decrease) in Other Operating Assets Other current assets Increase (Decrease) in Other Operating Liabilities Other, net Increase (Decrease) in Raw Materials, Packaging Materials and Supplies Inventories Reduction in value of the raw material and payment Increase (Decrease) in Restricted Cash Restricted cash Increase (Decrease) in Retail Related Inventories Recreational vehicles were repurchased for approximately Increase (Decrease) in Workers' Compensation Liabilities Workers' compensation security deposit Interest Expense Interest expense Interest on unpaid balance. Interest On Unpaid Balance Unpaid balances interest rate Disposal Group, Including Discontinued Operation, Inventory, Current Inventories Inventory Disclosure [Abstract] Inventory Disclosure [Abstract] Inventory Disclosure [Text Block] Inventories Inventory, Finished Goods, Gross Finished goods Inventory, Net Inventories Total inventories Inventory, Policy [Policy Text Block] Inventories Inventory, Raw Materials, Gross Raw materials Inventory, Work in Process, Gross Work in process Inventory Write-down Reduction in inventory value of discontinued operations Investment Income, Interest Interest income Land Land Legal Entity [Axis] Legal Entity [Axis] Liabilities and Equity Total Liabilities and Shareholders' Equity Liabilities and Equity [Abstract] LIABILITIES AND SHAREHOLDERS' EQUITY Liabilities, Current Total Current Liabilities Liabilities, Current [Abstract] Current Liabilities: Liabilities, Noncurrent Total Total Long-Term Liabilities Liabilities, Noncurrent [Abstract] Long-Term Liabilities: Disposal Group, Including Discontinued Operation, Liabilities, Current Liabilities of discontinued operations Current Liabilities, Total Disposal Group, Including Discontinued Operation, Liabilities, Current [Abstract] Current Liabilities: Life Insurance Product Line [Member] Life Insurance Loans [Member] Line of credit facility annual commitment fee amount. Line Of Credit Facility Annual Commitment Fee Amount Annual facility fees Line of credit facility annual renewable term. Line Of Credit Facility Annual Renewable Term Secured revolving credit facility renewal term Line of credit facility bank assessment fee. Line Of Credit Facility Bank Assessment Fee Percentage of monthly bank assessment fees per annum Line of Credit Facility, Commitment Fee Amount Facility fee amount Line of Credit Facility, Interest Rate at Period End Credit facility, interest rate Line of Credit Facility, Interest Rate Description Interest rate description Line of credit facility letter of credit fee. Line Of Credit Facility Letter Of Credit Fee Percentage of monthly letter of credit fees payable in arrears Line of Credit Facility, Maximum Borrowing Capacity Maximum borrowing capacity Line of credit facility overadvance fee amount. Line Of Credit Facility Overadvance Fee Amount Overadvance fees per day Line of Credit Facility, Unused Capacity, Commitment Fee Percentage Unused line fee payable in arrears per annum Loans Payable Life insurance loans Long-term Debt [Text Block] Long-Term Liabilities Loss Contingencies [Line Items] Loss Contingencies [Line Items] Loss Contingencies [Table] Loss Contingencies [Table] Loss Contingency Accrual Obligations from repurchased units Loss Contingency, Estimate of Possible Loss Maximum potential repurchase liability Loss Contingency, Loss in Period Losses from repurchased units Machinery and Equipment, Gross Machinery and equipment Management's plan. Managements Plan Policy [Text Block] Management's Plan Mansfield Texas. Mansfield Texas [Member] Mansfield, Texas [Member] Manufacturing Facility [Member] Manufacturing Facility [Member] Maximum [Member] Maximum [Member] Minimum [Member] Minimum [Member] Modular housing. Modular Housing [Member] Modular Housing [Member] Nature Of Operations And Summary Of Significant Accounting Policies [Line Items] Nature Of Operations And Summary Of Significant Accounting Policies [Line Items] Nature Of Operations And Summary Of Significant Accounting Policies [Line Items] Nature Of Operations And Summary Of Significant Accounting Policies [Table] Nature Of Operations And Summary Of Significant Accounting Policies [Table] Nature Of Operations And Summary Of Significant Accounting Policies [Table] Net Cash Provided by (Used in) Investing Activities Net cash from investing activities Net Cash Provided by (Used in) Investing Activities [Abstract] CASH FLOWS FROM INVESTING ACTIVITIES: Net Cash Provided by (Used in) Operating Activities Net cash used for operating activities Net Cash Provided by (Used in) Operating Activities [Abstract] CASH FLOWS FROM OPERATING ACTIVITIES: Net Income (Loss) Attributable to Parent Net loss Net loss Net Income (Loss) Available to Common Stockholders, Basic [Abstract] OPERATIONS: New Accounting Pronouncements, Policy [Policy Text Block] Recently Issued Accounting Pronouncements Note receivable final payment date. Note Receivable Final Payment Date Note receivable fully repaid date Note receivable final payment period. Note Receivable Final Payment Period Note receivable final payment period Note receivable interest amortization period. Note Receivable Interest Amortization Period Note receivable interest amortization period Notes, Loans and Financing Receivable, Net, Current Note receivable, current Notes, Loans and Financing Receivable, Net, Noncurrent Note Receivable, non-current Number Of Assets Repurchased Number Of Assets Repurchased Recreational vehicles were repurchased Number of communities to which homes are sold. Number Of Communities To Which Homes Are Sold Number of largest communities Number of facilities collateral for note receivable. Number Of Facilities Collateral For Note Receivable Facilities collateral for note Number of housing facilities. Number Of Housing Facilities Number of housing facilities Number of housing facilities with operating profit. Number Of Housing Facilities With Operating Profit Number of housing facilities with operating profits Number of idle facilities sold. Number Of Idle Facilities Sold Number of idle facilities sold EX-101.PRE 11 sky-20150228_pre.xml XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE EXCEL 12 Financial_Report.xlsx IDEA: XBRL DOCUMENT begin 644 Financial_Report.xlsx M4$L#!!0`!@`(````(0!)FSNX\0$``,,7```3``@"6T-O;G1E;G1?5'EP97-= M+GAM;""B!`(HH``"```````````````````````````````````````````` M```````````````````````````````````````````````````````````` M```````````````````````````````````````````````````````````` M```````````````````````````````````````````````````````````` M```````````````````````````````````````````````````````````` M```````````````````````````````````````````````````````````` M```````````````````````````````````````````````````````````` M```````````````````````````````````````````````````````````` M```````````````````````````````````````````````````````````` M```````````````````````````````````````````````````````````` M```````````````````````````````````````````````````````````` M``````````````````````````````````````#,F-%.VS`4AN\G\0Z1;U'C MV@$&J"D7,"X'TN`!//NTB>K8EFU8^_8[2:%"J&M5K1+GIE$;^_Q?+>63\D]N MEITM7B&FUKN:B7+,"G#:F];-:_;\=#^Z9$7*RAEEO8.:K2"QF^G)M\G3*D`J M<+=+-6MR#M><)]U`IU+I`SB\,_.Q4QF_QCD/2B_4'+@ MOW1X`F4*$91)#4#N;#E*O>[1P$'0;%]XI)2;8M?[J+*+BQJZE/PC8C0=3Q0+\>QRI9$P4P>J/OH\^;*W-$UO>"_F?6*73HQ`GA,[RW;E0V8+ MJ<_;J)I"RTF#%?.&PO7W)E;',O=V]R:V)O;VLN>&UL+G)E;',@H@0!**`` M`0`````````````````````````````````````````````````````````` M```````````````````````````````````````````````````````````` M```````````````````````````````````````````````````````````` M```````````````````````````````````````````````````````````` M```````````````````````````````````````````````````````````` M``````````````````````````````````````````"\F,UNVS`0A.\%^@X" M[S7-7<=)BL@YM"B0:YL^`"'1EA!9$DCVQV]?PFVH&F@F/1![,<`53`V&R_E( MW=W_/`[5=^=#/XVU,JNUJMS83&T_'FKU]?'3NQM5A6C'U@[3Z&IUK*?_-'&-/0'/=OFR1Z< MIO5ZJ_W?70%LGAVY)R0F>]:[]$ MGYHQ+`MV449JR)14D_MD49)+?UJ'#)+#&V$YO$%RKH757",QAH35&()RI,TQ MT!VZ$G:'KI`[+!W)#".9BT9RB*"Q@8H> M&W+P+PV32\\L@#D/2X"8(;BH*[O_8Y`2ON2R=.0PSAZ7QR1"?TKC"M!).G$QR M??'=>?<+``#__P,`4$L#!!0`!@`(````(0`-/>[HBP,``&(+```/````>&PO M=V]R:V)O;VLN>&ULE);;;N(P$(;O5]IWB'*_S0EZ4J'J:7>1JK8J;'MIF<2` M5<=F;:?`V^\D*>DD!M2]"D[P[YE_/H]]<;G.A??.M.%*#OSH*/0])E.5<3D? M^'\F/W^<^IZQ5&94*,D&_H89_W+X_=O%2NFWJ5)O'@A(,_`7UB[/@\"D"Y93 MZHP\NEP^T!SB7@O?$]38NXQ;E@W\/@S5BK5> MZ&)Y77`!7\^2,/Y/DD_8R-J.%L!-(;ZL.?L6].#XN_UE:\<+9RGQ.*H?> M^I7+3*W*OX*UFV:40`"KZM,KS^P"OH=AV+S[S?A\8;R51J:B`J=TRTVJRAD% MF`M)?"CA^6=H_DDWC)%\!PN4YK`#/]?L`57-FJ?=.0_*,O+,4L;?Z52T?,,@ MG'7G/=H%T^3*F';E>S%:+`J[LUZIUE3:#0XOP3,L7M"ZB M)!E34;$QRN#YI*'O:=A[V`*\72*'KG$Q->QO`:4E=V6!6\7%0$4.48?!A`(W M9/8P69&#UAXTP5F`!@?4Q[1%#FX(T1US,7&1@]P6GAT3,77013M-:Q=#.T0P MB+$#XF$K(8#&RCYF,G:8W&?E508'#\=4(YT^QCUV,,6E':<+EA4?V%==">M@W.NS$7?!3D5U@'LQ\[ MR.(.U1&!*P?2B5LZ#K(-=M`E%;0`P:L&7W9[:/%8!V^A>#^^[82JZT_K`$[P M%H+!5VBNB[4A^"!/\':"P5=TFMA07@G>73#HZ.`>>]#G!&\P&'1T;M2!KHO; M91_[G#@\'VZ[N.>5-ZSF9(1!)R"G[[:RPP;AC9%433BHB(8K6$I%"G?#\E%= MKGK]X[JW!-OK\?`?````__\#`%!+`P04``8`"````"$`'>D-&>0%``")%P`` M&````'AL+W=OEJ?]QOSG[R^+T#3:+C]M\V-]DAOSAVS-3\\_ M__3T5C=?VX.4G0$,IW9C'KKNO+:LMCC(*F^7]5F>P+*KFRKOX&.SM]IS(_-M MOZDZ6HYM^U:5ER<3&=;-(QSU;E<6,JV+UTJ>.B1IY#'OP/_V4)[;D:TJ'J&K M\N;KZWE1U-49*%[*8]G]Z$E-HRK6O^U/=9._'$'W=^'EQ.9UO-3'Z!_2_G6:K\;[:%^ M^Z4IM[^7)PG1ACRI#+S4]5<%_6VKEF"S-=O]I<_`GXVQE;O\]=C]5;_]*LO] MH8-TKT"1$K;>_DAE6T!$@6;IK!1341_!`?AI5*4J#8A(_KW__ZW<=H>-Z?K+ M56"[`N#&BVR[+Z6B-(WBM>WJZC\$B8$*29R!!'8,),)9.N%*K/S[+!9ZU`M, M\RY_?FKJ-P.J!OYF>\Y5#8HU,(_*T(^+UFM20:,B^:Q8>BY0T4)^OCT'XLGZ M!B$M!DB,D,`T)HA+($]T.'27T MV,'*=$`40LNX.$!T^1_1I;Q5"DPDS31HB2$H"3HO,R<$+,M>*)T,TCRN"9B]US_2I[4 MM8+U[/O-36VBXGC]QPC1SOZXH!JZ:W,UHW5LU]FXH.">/_4TDI&(.G_[\"@P ME)NZ^K13-@4 M+Q0V8/!\+")F3B[F,?SI947%?^'P$Y5=['Q8"C5%M8*ZXSO.7+U5AZSAQ#WC MQD3?9YXCP6!D`R@E6U<\&\0:3'MI+M3XU/2H2\W]`R)PZ!)=;'+'`V:LMDBP M:DHH`%HU&V(I!7BVRUI(1@$KW[TF4HU=3>2=I.&0)N(FXJ'@QD&NZH<%/A$W MC.DM8W;%2#.F1N_C8G!0$S$LSK%`S(U,$1&K[R#0'X<6$;(8)(-YB($(Y\6H7PP6OM`.5%\2&65P?>U.1?.GIK$F M\4XQXNPFTMCE(!;Z?%\X4<2T)Q0`C9FUF90"A.T(=IHSBHA<>P)0=6HN/ZX. MISA1QPYY+!`#W:SOU?;2G>6.(WP6H91QB*7#(I#-$$+8^K^I>5&Y:HYKCZU1 MU*_J5=.!*759Q1?76*SAN0Z^2+#U%%YB^W7K8H"'T'.^EW_DS;X\M<91[H#2 M7@9P]VCP*14_=/6Y?WQ[J3MX`NU_/<"3MX2'0'L)X%U==^,']0WF\HC^_#\` M``#__P,`4$L#!!0`!@`(````(0`@G:[4#`,``!,)```9````>&PO=V]R:W-H M965T:*H M28N%RWK20:1BO,42EGSGB9X37.JDMO%"WT^]%M,.&88%_P@'JRI:D)P5^Y9T MTI!PTF`)^D5->W%B:XN/T+68/^[[JX*U/5!L:4/EBR9%3ELL[G<=XWC;0-W/ M08R+$[=>3.A;6G`F6"5=H/.,T&G-)/M.-^`G=TI2X7TC M?['#=T)WM81N)U"0JFM1ON1$%&`HT+AAHI@*UH``^'5:JB8##,'/^GJ@I:Q7 M*$K=)/.C`.#.E@AY1Q4E<'1P88*A?]%B]#L$"F)7+ M*?3J;9?!7I5SHY)T*J`%3,;3.IK/EMX3M+,X8FZGF,!&;*:(R$]L3'["J$D! MQ6?9T)"Q[.A=V2K)EAV&]O-NWX#8B(U!S'35<9#-?3N>3QFR^`RQ:H!Q&-9P MV7(%AA%&SL#R^9E7M^768&(]P:I/F_&-?'##D@*=_[@4!5XAJ/,L)8S'/AK, M7+N4!-FX]58XFJ5V(;D)ZT(LF?#B#F6J87V_ZRK)EAN/9]5`4JT6=OE12S>7 MP[D5AO1S,9;VU-9^N=L*;&L.X^C,:[IM,$9T-K78"D\M-N&IQ=EG9"JP+3-Y MG76CTD",RC2*1N'-Y7!NPE.5ZHP?[%J7S51@6V4\:)*1:3!F7H,H&>]#&SN> MA:]-UOEP$*IG#(2:<\ULM3W>D0?,=[033D,JF%K?S6!JN#G5S$*R7N]-6R;A M--)_:_CX(/`>^RZ`*\;D::%VP_/GS/H_````__\#`%!+`P04``8`"````"$` MQK=JKV`#``!<"P``&0```'AL+W=OR`"58!(^PV[;_?M9VDMHG:9"\A M7,X]W'-\K_'B]J6IG6?<,T+;I1N,?-?!;4X+TNZ6[N]?]SHZ33Y_V+6T1]L:=+\$$Y0?N>7-@+XA>4\9+?D( MZ#Q5Z%!SXB4>,*T6!0$%PG:GQ^72O0OF6>"[WFHA#?I#\)YI_QU6T?V7GA3? M2(O!;5@GL0);2A\%]*$0(4CV!MGW<@5^]$Z!2_14\Y]T_Q637<5AN2-0)(3- MB]<4LQPB3Y MCU)`NG0%KD>6BTOQE,-RP5+$T6K1T[T#4P`>L@Z)F0KF0"Q6:@SK?7ZE8(E$ MSIU(DJF`9M!>SZMQ$BZ\9VB)_(!9#S$68J,0,YD_"::);S*D0X;IQ(1D)L4D MC$[//=!W$@DMH(M\7YP`@PFNHXD;GWBE`6N%FND"EU69YLE:81-H:34/8^BQC-P8B3J8#1*HCXB`,!HA,1T2SF?$60Q_T M_.7Z!-C6][:FRGN%B57;G=5G(,[J,Q#).7T*(5?8D`,SHLNY;%Y$DBTKMEI* M890LX>;`\LV'B-1`*!+S+9E"#&7%IJSW)T2`;3E3\T5KA=$FQ`ZD=B#3`H;E MTVMJ$^"/IE=AM-KL0&H',BU@U"9.+-KV^;YO`FS[9D^OPJ@V2.)HV`4*\%9\ MJF<$R9G&R;04H_CDFN(%V"[>'DV%>:MM8P=2%5#R@K,=JJ48Q<)YQ;#ZLLF3 M67;9]N@=0%K=@TAZB*AM5>R8]JXJ#E3"(1G=4LYG&KDWPI.L1B^,/"E=YV24GZ\$>>OT[EX]0\` M`/__`P!02P,$%``&``@````A`+@.:EY``P``Q`D``!D```!X;"]W;W)K&ULG%9=;YLP%'V?M/^`>&_X2DB(DE1-4+=*FS1-^WAV MP`2K@)'M-.V_WS4WL-AT6[J7)'".3\X]]QJSNGVN*^>)"LEXLW:#B>\ZM,EX MSIK#VOW^[?YFX3I2D28G%6_HVGVATKW=O'^W.G'Q*$M*E0,*C5R[I5+MTO-D M5M*:R`EO:0-(P45-%%R*@R=;04G>+:HK+_3]V*L):UQ46(IK-'A1L(RF/#O6 MM%$H(FA%%/B7)6MEKU9GU\C51#P>VYN,URU([%G%U$LGZCIUMGPX-%R0?05U M/P=3DO7:W<5(OF:9X)(7:@)R'AH=UYQXB0=*FU7.H`(=NR-HL7;O@F6:N-YF MU>7S@]&3O/CMR)*?/@B6?V(-A;"A3;H!>\X?-?4AU[=@L3=:?=\UX(MP+);.Y'`="=/97JGFE)U\F.4O'Z)Y*"LQ2*A&>1"-R?\7`2+F;!+'Z# MRO2L`M^]"IB^4L7#NKJ84J+(9B7XR8'1`^>R)7J0@R4H]_E@-4-B?PH,DM(B M=UJETX(L)#3Y:1,EP-#MPMHB9]I-GDYO9]](+VX85J#OUUO1Y+4+10YM#,/$LH*(CXW"5KP^3TVVC5J3OT4.&IW- M[=VUNX3C(+3*3!$>V]0GL?6$^O=FUXMLNS-S#+?(0;MP*EO3L3-@P,W5J0%? MKC9F-OD?\WJ1:7ZZ,/]]BQ3<8=$X:@-.1E$;\.7^1.]XFN(Q45-QH#M:5=+) M^%&?E`'LE^$N'N+;8`D/;_V4'@`X1%MRH)^).+!&.A4M8*D_F<.N$7@,XX7B M;?=0WG,%QV?WLX2W)0H/,'\"Y()SU5_H/QC>OS:_````__\#`%!+`P04``8` M"````"$`XUX%4%$"```M!0``&0```'AL+W=O_@2ZVTI!:6>DU, MKSFM?)!L21K'0R*IZ'`@3/0]#%77@O&%8EO).QL@FK?40OZF$;TYTR2[!R>I MWFS[!Z9D#XB5:(4]>BA&DDU>UIW2=-5"W8=D0-F9[1"F85D;5-@(<"8G> MUCPF8P*D:5$)J,#9CC2O2_R<3.89)M/"^_-+\+VY>D:F4?M/6E1?1,?!;&B3 M:\!*J8V3OE3N%023F^BE;\`WC2I>TVUKOZO]9R[6C85NYU"0JVM2'1?<,#`4 M,%&:.Q)3+20`5R2%FPPPA![\?2\JVY0X&T;Y8YPE($!^@B1IE([R)!^^@Y*=*'`_4^)[4R&A+._2@EHZ+;3:(Y@\2-ST MU,UQ,@&PLR<#D_]M#_CB8IY=D`\%M8&6[J;9:%R0'?2!G32S6TWZ5C$/BI&/ M'R2/X_CRG4!REPS!M/=GZ(*@$HPN&:;I7_O/@F;@.^7*FE^]>),!8*XS^+\W M3EQB0%UVSJXJ\_[-@F;L*Q_F21+'K[5[!?P1CG)2#'(X,UX5(;83QUF/>PL*KW/5LI"W/J'QLXECA4#F.$4:V4/2_<'W4Y MZ*9_````__\#`%!+`P04``8`"````"$`F?XW6<0#``"[#```&0```'AL+W=O MW\O">2,-IZS: MNJ$7N`ZI,I;3ZK1U?WQ_?EBZ#A=IE:<%J\C6_2#^S[/SJ1,N<=J4L&3(VO*5,!M<_)YW9`TET%EX4^"8.&7*:UEW2:GD`&6 MW6G(<>L^A>LDG+G^;B,+]"\E5ZY]=_B97?]J:/X/K0A4&_J$'3@P]HK4EQPA M"/9OHI]E![XV3DZ.Z:40W]CU;T)/9P'MGD-&F-@Z_T@(SZ"B(.--YJB4L0(, MP*=34EP:4)'T75ZO-!?GK3M=>/,HF(9`=PZ$BV>*DJZ37;A@Y4]%"ELI)3)I M1>#:BH0+;S:91\O/J$Q;%;AV*O//J\Q:%;AV*N.]^*HZLMA)*M+=IF%7!U8P MY,_K%/=#N`;E7U<7RHK<)R1OW8F M)[[EA"8CN65,-14?S/<90&_&9X!DS`#7"Z:T5\!2)C,+HU5@&HF[@"&=B)H5FP@Z0"<1D-7#5]XFCN;"!1P$JN MN3`*\*_OO^$QA-TVOG22;;NS9NB^)6GV;I"D118+Z3#P@F'3F/9P((_N;*C& MM[$=ET-SU&1H2;H]%38@2<^YT]T0![!F;5Q[991=P6G?F]:BFNV#H;@-&Y"D M1[31LYSU0F85<2)K5N_/M%#-;[.*P]NEM:A(@Z&X#1N0I$=TB__7:!S'XRVJ MX6U:M-Y+>S@EXE8:#,4]HANRWAQXN.S#5!7565$=7TK2G$A,BH([&;O@.7`" M2[A'^S/JTQ3?]18>3];PM@3<[Q_`T;%.3^1+VIQHQ9V"'$$R\")X#S3J\*EN M!*OEH>G`!!P:Y=&PO=V]R:W-H965T2V+UWNFL,1S,O28.(`!SMF-(/ MW%!BE.^5%NUO!R)'*D<2'DG@>20AH1?.$Y+,WL$2'5G@>6(!T5>R^"XO:],] MU72]DN*`H/5`N>JI:62R!&;C3_Q/?\`8<^;.'+)'`:V@IL_K*$U6_C,4(C]B M-@Z38C1@PC%B>V0)+$%,TD4P`'Q0-T@$VZ82(VB$OY?P)-$<&DL,)_=O',0V MGTUK>SSC.NI2`1ASJ>#_-QLPM,EEXF1ZMJ9N-K-PXSLZK">3P?A[>7 MX8BD\1`>J9J]1Y4!3U6E`Z\U8^,PL565!E-1E]&(G*,C3=#_USMEP&--43IU MRF%<_191,)$,H]10N/!\%I[#3I6;DVX`M$Q6;,N:1J%<[,T,#"'38=>-YPU9 MPGL""E4#SI!J];:-';%W,G-`Q, M^[>&[R.#UR#P`%P*H4\+,]J'+^[Z#P```/__`P!02P,$%``&``@````A`/&Y M&A;8`P``EPP``!D```!X;"]W;W)K&ULE%?!CJ,X M$+VOM/^`N'?`0$*(DHP&6KW3THXT6NWLG@DX"6K`"#N=[K^?LLL![)ZTDDL2 M[.?GYU?EHK+^\M;4SBOM><7:C4MFONO0MF!EU1XV[L]_GQZ6KL-%WI9YS5JZ M<=\I=[]L__QC?6;]"S]2*AQ@:/G&/0K1K3R/%T?:Y'S&.MK"S)[U32[@L3]X MO.MI7JI%3>T%OK_PFKQJ7618];=PL/V^*N@C*TX-;062]+3.!>CGQZKC%[:F MN(6NR?N74_=0L*8#BEU55^)=D;I.4ZR>#RWK\UT-YWXC45Y^>2WPX_L M_%=?E7]7+06W(4XR`CO&7B3TN91#L-C[L/I)1>!'[Y1TGY]J\0\[?Z/5X2@@ MW',XD3S8JGQ_I+P`1X%F%LPE4\%J$`"?3E/)U`!'\C?U?:Y*<=RXX6(VC_V0 M`-S942Z>*DGI.L6)"];\CR"BJ9`DT"3PK4E(,`N6Z\0B$)C4L3$KC-@`A.1:19?$40D3OP!X(&Z02+89DL,(1%^'\*+1+G(E!A8 M^Z<(B56HY+$RO08S:JH`C)DJ^'QG"88TF1X\'`ZF_$L1$HT[3P:,HT?W;"S! M&Q<.,3H^MS9&2*(<#Y*E.9M-9Z,XOA(.R([;S9!@2U-L[IHB)%*:2!*9LQG. M+E`QW+MAVO!I<8\F"38UA;&=&XA!45%BS68XBZ+B*+XB"G+_=J,DV,H:/QD. MBVF#F$G:3`8,.^3;:W*I/\]7"3;M",@8>MP9,9.=<0`=2)9D-,C0D=RC0X)- M':&5H"E")C)P0`'JN5.3?=`Z<]B<++'QA(?!.M4X[%C M`AI"]?,(?P`H=!C^#,![QL3E0;:NPU^*[2\```#__P,`4$L#!!0`!@`(```` M(0!C=6:#0`,``+\)```9````>&PO=V]R:W-H965TP`D?2112M>FZ3=JD:=K'LP,F6`6,;*=I__VN;<(,V=HT M#R&8<#0R@Q52G6K()!Y11LB?=[1%JZ47#1$P:G8![(3 ME!2FJ*F#61@F04-8BRS#2ES"P&MLJ2"%H3!?IEQ3IY8FOR2^@: M(AX.W57.FPXH=JQFZMF0(J_)5Y_W+1=D5T/?3S@B^8G;G)S1-RP77/)2^4`7 M6*'G/2^#90!,FW7!H`-MNR=HF:$;O-IBC(+-VACTB]&C='Y[LN+'CX(57UA+ MP6W(22>PX_Q!0S\7>@F*@[/J>Y/`-^$5M"2'6GWGQT^4[2L%<R7@%S-J?.;ALNQD<^Y]AX)0FN=$L&4J1!^424G[<1"%> M!X^03-YC;BT&O@?,!+$](72@(&_0"+ZY&O^=W4F*!FLI.DNM[=8NN/>=C95M M+6)A=>-T&0[71S+`'E?&R:J7Y>@BL-3I.@HG][^UF&B0O'461@JBL8*7[ZS! M&8+>!K^C<#YT9KVQF"0QK-I[,NG=8OK]$ODPS-S/_'R_V(+S_;)\ MBS(-GBI+)\HLQO'$61AY@N'MYIIR62RFZK5<>I`CPET9J]#ONHNC@0EY[L`T MFQ[4AY/Z\]&SO$S.P^DKG'3L'+4#HJ%B3[>TKJ67\X.>D1@>MF%UF-\W,S.! MAPLP/CNRIU^)V+-6>C4MH33T4WA@A1W`]D3QSHR?'5&ULG%?;;IPP%'ROU']`O`

,9GSO'@;.[?LM1X M)26G+`],9#FF0?*0133?!^:?W\]W2]/@`N<13EE.`O.=TZSMS.,,U- MS;`N+^%@<4Q#\L3"0T9RH4E*DF(!^^<)+7C-EH67T&6X?#D4=R'+"J#8T92* M=T5J&EFX_K;/68EW*=3]AGPV<"TW404 M*I"V&R6)`_,!K1]=Q[2W&V707TJ.O/.[P1-V_%+2Z#O-";@-?9(=V#'V(J'? M(ODG6&R/5C^K#OPLC8C$^)"*7^SXE=!](J#=,ZA(%K:.WI\(#\%1H+':222P/3FUFSA>`C@QHYP\4PEI6F$!RY8]D^#4$6E M2=R*!#XK$C2S?'>V6%[`8NL=J0*?L,#;3*B\:GC5 M[A['&+=!])2]:Y0E&+PQC;9FY#2\6EEC?#5+W1+]:X0D.#"AB(Y0:YT6TAA? M63]K=]&K#B:KZ^MEG96+AN*M>UI<8[2X-VLLZ(G/^^*GFRK!0U&OX=6B&J-% MVU'K:2[ZFI<5+!<-M?V!ML9H[47S74];)OW5QT@N&FJW?NJZ-:;J]+3VZA9M MN6BH/6_XM;;&C,<904!TJSW=784^=W(JT(36;0&ETZ=_B-K6Z?*0!L%9ZIRT M#V8+R5#I-/A,R3J"^O+#F%*4@3E1\E6YA"X)I@HTH36(ILL.#9K*J)&]=4BU M]GI^>[1ZQT>^3+OV7KB-B;1RVS2LNES'E7S!=T,97951"GUVBNN4&FG=E$UH M*IQ&-M?IU+%Y^9'-@Y@Z,\43^>0.WT2H#JA1R8-8.J.EL^;TZQ5]%$AP][MA M?-2J808.[:U`W9#P1O;JBZ.^5Q5X3W[@&UL ME)C?;Z,X$,??3[K_`?&^`0-)FBC)JL'JW4JWTNET/YX)<1)4P!$F3?O?WPP# MQ#;9+-V';C/YSO#QC&>,N_KZ7N3.FZA4)LNURR:^ZX@RE?NL/*[=?_Y^^?+D M.JI.RGV2RU*LW0^AW*^;7W]9767UJDY"U`Y$*-7:/=7U>>EY*CV)(E$3>18E M?'.059'4\+$Z>NI#EDJN$POA2AK"E*) M/*F!7YVRL^JB%>F8<$52O5[.7U)9G"'$+LNS^J,)ZCI%NOQV+&65[')8]SN+ MDK2+W7P8A"^RM))*'NH)A/,(=+CFA;?P(-)FM<]@!9AVIQ*'M?O,ECP(7&^S M:A+T;R:N2OO=42=Y_:W*]G]DI8!L0YVP`CLI7U'Z;8\F\_DM>?Q?9\51#N:>P(ES8+1NIHT\:1.-JM*7AW8>T"NS@GN9+:$R%U^ M:#5]QGZ4,,@4!GG&*&MW[CJ0"P55?MM$0;#RWJ`R::O9#C7,5,2=`LN`83D9 MX&]"6#/J#+/JX<[FAS*.>A&C;(#ZM MG\T7?B\P4&$;C$=%L8%*!ATU9+<'-22Q[<1;)^H5/6U0\O$L*(8&T,H1!6&_ MQN;16])$?6ICV\`U@Y$6Z"<=!7=B"/W^N)+HM'8A\_T.B0*K+EO2+)JRS&#^ MXC^3.B;)C9J3848^H>5C8,],[,>X*+9P%R;*EB3T9':/E00:ZP,/@Q3:4T_P M8U(46Z3!K?6HUJ2YD<2V@6L&`P6/5VWJ/$9!\<^V'6DT%-O`-8.!LC!1QFT[ M=+*S8V\[TE`A@\C:0M2G)+E1<]TG?+CM&+3&^!0V:@O8WGBMAH`7PQYIO]=H M?^QA9)CA&!]=[49MHH:+N=4DK>C&$@\L7+>8/#BHQ_/06'\\]1B)=![;PG6- MR8/36>,9MP49S71XC#;Z9G:>2!0UM]YV,XM@>3TI#WLSDH(/MHR%F9*&S;X"FRCT9#WD#3WM+H MJ&#:24"S;V#ANL7DP=D]GHQMK3'LUQ2F'0&NI&? MT*K%EG5'@08=#OJU$]WZM;/<=S.H@T^=&(W:',.1;[=N*]+&WL#"=8O)\ZEC M(4#US]X"6I'.0VXW"]OH3T.EG"1&-IY ML(3[!-B]/A#E#+<_-C7,G:[@K-[^> MX&\C`NYZ_@3$!RGK[@,^H/]KR^9_````__\#`%!+`P04``8`"````"$`T(ZR MJ9T&``#='```&````'AL+W=OFO9KMZ^JWH,(IV[E[_O^O)S/N_6^.I;=K#E7)VC9 M-NVQ[.%KNYMWY[8J-\--Q\-&,UV6Z^KC\WZ^5B=>@S2 M5H>R!__=OCYWK]&.ZWO"'?=Z>F+9\. M,.[O852N7V,/7T;AC_6Z;;IFV\\@W!R-CL>G80;^;+U-M2V?#_U?SL?:E`9DI/P^?+[4FWZ_\G4RB]-`AR#WGJJN_U2;D+ZW?N[ZYO@?BD(* MA4$4!8%/"A*JF5K$89Q,B*(I"GR^1@'3=T:9X[B&-'TL^_+QH6U>/*@]<-Z= M2U/)X1(BOYT72(C1?C#BX188<@>3^>U1A0_S;Y#_-4ERE*2^9R5<45"08+@_ M"M,LN`CF8.KB#++E.C,SIV'^;SLT-PF'ZA)^&$2.DG28(3.J@N[!0G(=0#Y< M![=[-F)PZ`YG0MLZ-&4CHUXY<,@;,8CT3%*,LQXIH6OPFU.H+0O M=S-34._W9\.(A:GX$A;G`27)8"K4P2+C[05KAX5BVYFM9(HM(Q:V$MYMCA)G MDEXOF'*/K]0JU/O]N3%B82(5)E""N8<[2OF\!F9N$ MN84PAQ(TIT)M>Q_FM6#-R<+>SG+F"*$Q2.S)NS;#3J;&?I`Q)RZR)G.0A:ISU1U?0;!@OK%=N MQ<#T?BN(7OA[H:;$8AXZ>*:T.%=XYY.('8Z1K26R24-3%"\$IHKK[=S8)&J; MG9%8:%IBFS1D+$N5+0U*D@MNG:G8#HU;FT3N<(QN+7*2DX8J),H>M+%MJ$M4'M;!B08@329KKV>*".',>D]S:)*JK,=6=:2!K MJ$%KR6+T)*08U!Y?VV8IP]^[&3^H16DP8[C8)'8VL8*8X(D3J_13$UZ M`@QJ_FLALIBDG.%3PJTLYPJ?L$F4-[\Y!>4C27G24"TELNP+UJZ#JQ,VB?%J MS/A(S$=.&C(69R)K!6M7*K8#XQF;1'B%&VXHXLMN(9*$)PT:TTD@C!>L7<7* MMG-C@N]WDFK,^<@^0*B>7(SK5,DGD&+M\/2\;/NYP4F45V/*1Y+RI,',J87S MBX&6H`MYG617IM2\'+@?#H.:P\$I8LP8:7#[KN6#LZ!FFO%`V5)D"=.30#^H MA2\)>M+0&M#I*&-+NGCD61923QH&6>X5W/@GF&K?>[A)T M'E\T7ZC!O*1A*O)64`QJU\Z>FAN;A'*-4&;&;"60,=1@QXF6F_V"8KS1SHU- MPKP>8]ZA(1E##78#N]KDU`?K[L*7'P(\M%\DB:B"#%_;& M%DWD\J:&&YT$?HW@9R4ON4H:M^3QKN$*[_P-N$`$B6>%2Y$)-#R;;&*Y-4'_^X`!1T4CBQ*VI,&WW6]MZ9G@K2T] MGB;A,K>(J5A\M8=J"R<H4:/%X"K_TS7DXQWAJ>CA6&O[=PS%B!0<6P0S$ MVZ;I7[^8`[#+P>3C_P```/__`P!02P,$%``&``@````A`#R&++J?`@``'@<` M`!@```!X;"]W;W)K7C/!V9^_2Q; M],2U$:HK,(UBC'A7JDITZP+_^7U_-<'(6-95K%4=+_`+-_AZ\?G3?*OTHVDX MMP@(G2EP8VT_(\24#9?,1*KG'?Q3*RV9A:5>$]-KSBH?)%N2Q'%&)!,=#H29 M/H>AZEJ4_$Z5&\D[&R":M\R"?].(WNQILCP')YE^W/17I9(](%:B%?;%0S&2 MY>QAW2G-5BWD_4S'K-RS_>($+T6IE5&UC0!'@M'3G*=D2H"TF%<",G!E1YK7 M!;ZALV6&R6+NZ_-7\*UY^&0&)4;8Y7\%T1TAPJ09`>!\PY"DRB9 MI#3-+J",=A0X[RE@^DP*"7GY,MTQRQ9SK;8(1@^#4+3+ M#;H@2`2C5X/9`>]SN`V2L6^42VKYYL;``%#>&OBX,DY<8$"]/C@_>G"04.H3 M3Z(\FPZ.+U?'A;H@8&!\?(EQ)SXR/CDR'B29]TW3V!]#R?)#R<`FLM?1SG,6I`$<\DD2:?QD0*V M0`=Y7Q&LA2TNO+L]6_,?3*]%9U#+:YBU.,HA/1TVN+"PJO?OZ$I9V)C\90/? M(0ZS'D<@KI6R^X7;0@]?ML5_````__\#`%!+`P04``8`"````"$`9WI-\/I( M``!T\P``%````'AL+W-H87)E9%-T&UL[)WK;AQ'EN>_+[#OD!`T M&!F@*%%W7UH#FA)MKF5*0](V!HO]D*Q*DFG5K2NK1+$_]4/LEP5F`6,?Q8_2 M3[*__SD1D=Q/=W:V M'][)BMEH/BYGYW^Z\\/)_OT7=[)JE<_&^60^*_YTYZJH[OS+R__Z7[ZJJE7& MN[/J3W5*.+8II7V_-%,>/)V7PYS5?\N3Q_4"V613ZN+HIB-9T\ M>/3PX;,'T[R/-VY\_*KJGSYU>KEJ_EH M/2UFJXQY9*]GJW)UE1W,?`#F_=6#U)T M.WOT8BM[]'#G:??A[F*YG3U\//PP36-W?9JZ>UY:M>SZG=?EF-\DGV;T6^ MS/8A9K6QQ]`R=#S8]E\?=]\^6>9BF.SX:GHZGW2?'G_W;]V?PAX>%>>E*,;. M'N;3WO1Y\ML[^W1NPT][,$52U9VP$Y_S+XKKKKM]M;+I3BG28%-Y`JS MVB\GQ3+;@Y[G\V6OP^-I/M'SHV(Q7ZZTZKWY=)'/>@U#;SR=SF?9\6H^>K^5 M'5_DRZ+*WJY7)E2\WIOP?%;-)^68X#\>OLKN?=5\Y MF&4G%_-UA7146TC1I*BJ;+ZZ*):7955DU:(8E6=E7Q(B;7:KBMZ_Z':[EU<7 MW=]V1R:Q5;8L1D7Y(3^=]';M<+XJ&H^WLI%O0;>K@]D'-F:^+(L>-_XT7[Y' M)?TSZF&*,JGR%5*>504]2?3'D+XJ5]T.WVK%<;0LMT5UV_A2L_E9-D8DT!+E M;`V=45E+&Z0WE9/Y"O9J4ZK;Z:%6?)0(LI7-YK/[&U;];JFQ5E=;V3NV-FBT M/Z_+A81]*\M7L%.UZNW%&_:V.^S7ZW(BL:M,+9;3Q7+^H5`WO45\GX\NREFQ MO+*611RNV^&U<\O.E_.JU_,;L5H^0CVO)\:Q[`VL41HQ?U/_W<8W[A1D+E;: MR=L.?TCS:Y?8G8(SE$^D^\SY8OA9Y)8W97Y:3LH5'-[;T"1(B_Q*4K25H5]F8LMICNR87H(?SI?YM+=GL>5EOI3J=:98%KY_ MQ4<)7+][IT4>IC.I5]8E3&/1OUO,&GWTNI_/SN^?%,MIUFC4HZ[/=ER<%6C_ M<7;M=,^*K)Q5:TB!HIW,\UF/8+[7;X9&[DY/VKYV'CYX_SQ88 M^@_Y9`U?[3S=>OCPH?X_J]SZY.O5!7KW+\7XRZRL*O'7SL[6HYWG6SM/GH1& MW:GLCLA]!:XT MFXC.&Z'SP%Q;+QX]W?H\3;3WHNGB(:(,MVQPB&W&;=YDPS:;WW<8;X`EX@6: M^FR3.3Y>H0D-NZ&<]LL9C%5"MG>R6;)CFV%B>RO3'G97UV[6V]1;-?=][S;M M;HWWW6W5HE%:+9#C+'N;#*E1//'"Z\`+FVC6AC#%QU&Q6#E8RD!"^6]!-8]O MC?Z?=!?V]MWKH]V3@[>'QSTID_%`"?<5H\RU5C[X\!O9S`Q%?-:'*\?%9"+X M*)\F'T_+F4'A5?FAR#8IX6\0K$Q(B(EHS'+,_]*[(XI%`A0;+7S8'D:=#!CS M@]FJ`)VNXOA=\J3G)1YB'ZZ_T5K/EO,IXFS`2JO3W!Q99:<%'IN4K5[.5OG' M/C&_+F8%I/)>KFMXPUC=F=?--\"^!":N&U0\,$2WK_.J'-F3C-6Z`AV<07IZ M#9EN\^*&171?_:DHSR_D1N0X^&"&;+:>GC)!.(VNT3'R2[+]R?QR MHT.TMWO\;;;_YNU/Q]G^T=OOLR#7A]]DNWLG!S\>G!R\[J]C=_SSN@JF>S67 M!S-'<2-@@IG:]HQ?]>^1QE]7T!5^C@PN01XAO,-H[]4UJ/BH&*]YD]U`N,O@ M%%VY]19];KG97=V0F_\C-V@N.,YL+\O5Q>_MK:UILENHFKV+?`;+L:8X$[:[ M`<1Z&O8(S;,L1YJI*-QEG(A:RZBD-GN@L6ECM&YO!A!-Z+M/).0W[W#WK2[' M'1S^^/KX!'FYCN-P1D9%,0Y*<[%$]Y0+`UA7CB#9_1^VC[>S9):_+B>3'IYZ MMUZ.+G(<_5LV;XTZ:WOKW76UIQCM3MS1W\=;PWW^=@YKKCL9P=NP9MIB,U82 MNOCUY_>LO.]U.3BX*>=\>_]*4UK-\ MC9^`")N8E@8%:CQ]EL`PT2_'R)6!!>$:PFK@H%H'WT/_5F"B8$[FL\D5@15B MRA/I9F)*>M!XX3.4\XAP1(YG@:8F#%$!UK.SO%SR)JA=(PW-Q8))TK^Y05CB MP\LUG?SZ2PP2;YD6"PZ0^NYUQECK"0$Z=J(!>(3L6F.:7CDSRR73H6Y6%\NB MN(\M1C>K/=8S_ND&M"(>/X:@_6E9>X+83[:S5VMZ\GE5\*BY:;/$/QIG;[XD M7FE([&]__5]5=KJN&*FJM#90'SL5UX"/`YU7B9HEU"MG8UP>PZ8L,;:,:X#, M)2]=X?!M#['([^$*=.%DK743TRO@C@LP#/BBF&EC\8QXLE@OJ[5B:&'ERS7P MW(BR+,X5CF)/T:T0FC="K)9=WH>',L7#P+4ZN`T MQ($M@Q+X]/L<%GV\8ZF*)S93#?][:%T1/)Z,H2Z$RB6ZFOW/ZYFC$H,-ZKHU MH\$E&0-#*J"2MHU]2=M(I^JCRX8*.N%P!*+Y/LG#B9OT78^A]L(V82[96?%< MED^E$A635G=C\<,&T-1@(W3(!#MF@7&]P>I@E:G],^0,K'/837K$N*DWF1.6 M=#:?(-%21B73T>!'U]>H",V';3_/R?,8<1N+CXNRL M&.%,1E(UM-602N_,9JE,64.MOT9UDH!C,_[VU__I8DD3_><=_U7]10B3S-O# M.P]>?C6:3R0FYZ=_NK._3Z2(_]//RWWTDK?;RR?EZ;+4KV?Y5#K!7G^D'RSQ M5_@/^+'SI7Y\8,.L7O[ZBX@$%1%:(Z(H,\@]SG?:!`7YC>T(G.&Y3%S."`FP MN4V".F*2U"_E\DHPI_D,3\>B+VSJ-'^/-YT(8:XV`:_IPG2#"1P&?6.#+/<= MT48Z;VH"@=M81L1!;61KLB@&=&6A]<)<8@'X:.,[J#%&(=AA)E__'B(2&8(J MNR1RH/_=-*UE068%BZ#EQE!"-B9W`A/6[QA+FH\F1;B2THJ*'99%'XQ+5K]T M5Y6`89-0VTJU->AV:2\$8=<684$GKGMCE'DKN_2L#N8'>M1YG2UVJ1NRMJE? M%/D$JU@'9QM+5VRSH>#)39_?GQ`Z87N"W\/:4_R76$/X/<@,`I#RQ?Q[]?(H MD$Q>'P)I[M@G%IOC-=EDU`*Q0_$_6QY42E>'@GWE0:)\,,)3D@C28?,E0>/M M+*X+U1261M0W6R_0,=J#":%,_ADZ3IKL"^CO/9CYS)697TF]T0=9/WHPY)Q# M82)1^,"DW0@HJ-55=H_T\HH(S_*S+[-+\G4K;#8-"$%@Q;)\P739/>N8W(=) MZD#/L1,#*[4DP`QD_]<^ZR6AZ%X'7Z*#-1FMD`1'J8`,.K;*QJ&(P)40/(H^ MD0S`])"C*BU5OF36R^EY5AAG(\3Q>EO(YF.)-=<_*ZRXK,Y!`W"\S@&%A4+*D6)BOXJ!?<>\DN+Q#_,)1G0Z^0 MRYF6['BSPEDYE8+#+C/A39S1J!:(>3)!F3\:S6`3LL943.6:+XOA<0L.%HPA M5LG;,EBW;?0!?T.O<<$6`Y,0NS6>G>N5LW)9K4BJ;6'U]2\BLMFTP.KB%;R[ MN"*^C,JL@X.A"$,*?P7$8>=]\!!0*,CWPRV+X/3\&7>6,3>1-E1;R"[O->PR MN4JV7QJ=Z*5R5P-T/Q7Z^Z.0)+0?F,(?-ORKF$W>@&/86".3".\^`ZJ>'2;_ M,\E'['9RI!H*P,R;=VC_1%G4!2\U\HF63(;][(QJ'7JVZ-`4$1=KX,N44U03 M^N;48T+.U`)T>8VR9QBML MB^5E+);SE14S]@`J05,TZH:ZH4^]A_7D!A(#'1TI&$+`JI$0<6`S7:SEWH&A M7"-&IPPM6160C-P!<5K;8K&`HWP%L=RG41FAD!->P`P4;*K3F*/&CBGF*-H' MU:A=%!0$Q5KHP%]TC(8[$Q*5C1<(.B'E,N6O@UO9F:`8LNG46Y0A@**TAP-D M4B!.(2\MJ!,+EYH7WUB@H?HBBX5?QH/-NB_"6D)OCQ]:7*3Z$MLS6/B5/56S M%]X*[X_RR*&@9S.[[-"SLBT"(!`FTU.\[34RA2K2M(-T*5R8O44KD;8G3;>D MEM'&:`6L6.[F[DW((:3Y\4BPY-PEESB=(5VD?'!L5=DP^NO)>TI=D&WJ0DLB M`GW@1<+$8(K-L].[S/*'8H+`D;'2A[4IL?!,NWLK<$&%$+"U?S"+-M M.AIH0.>N7EKA4-LY94-!PF41-1B;2)C:?"$!)D9?9D+V0+\0>L70*VHDRL@8 M7)D*LDB$1(+],(F`*`J2!VPUDC`9U@NJ:?XS@$_$=.-1AZ,-];7ZEH-M"E58 ML.U<2UY]PL58VQ'^L-F3B%HJZ^?N)CYHK:&#UCXEM(,ROF@O)0VG2?0&5#V( M\F2"PHKG*]2T!JJ>T%B014CY%(\*D@E--R<$<;K=">Z25\!:#O%]V,)836[1 M@9]BI=PGAB"^WA3(AP'G'W`'8R2(\#7562$;B%?NOL,%2@P0CT?V/IO.<3P= M)@S91T)+RA'G9J)`HF^5:$+*V-$`D[ST7OX`X:HBN6'&AG]>C\]-K:!OLTSCGJ$J@&Y6<)Q$S\= M.(0X4:V3`AD#O/2'^2]=Y2%Z$.K\"S,;")2&P!!6SL/`B@V0-2Q6E\K!B23) M#)DRMGT(J$S6L(9=1D("L#7HJC&4Y@1*GY1_2:D!=3TT'_.<\8W&"L<95ZFE M)PAB$+-:GY%*(8ZQBB:.R*\90,=R`]NT>OG-;\PQL'AT$F:/8>0=QYA<=CI' M=\[@5,N3:MF>659!G]2TZHM-6;K_+PN.L6<59+#,HH7(I-))%L1AR8%7E1P\ M\)`M9>"\>/TP)#-=?2%AJEQBYQA8'@V445:+O]O!Q#H+I:(87\)6-C\58)`2 M30NPQ0_M3PMY:$<1$0;5)CG<<.3F&R89DRR1?SL7NINJ,/#20Y^,0&':.@W= M)V(2:&.<$+?EQX%I`3P9AJ4K/Q\M8FT;"O%N8CW;P#2<-C"2(JU?-BZJ*/Y) MN$[&,%K,NC>T2-C$:"Z%708G>`*%&M8MR(GZ3/H)L"R,!_B5:*UG27113DA6 M]/C#,@V*JPR3#&Y(EJJ5+TPI<0\9T9/"?@8(\09.8RB)3;HQ&T__F63-@P]4*":LA&'9D#&RL8T7K6)^4 M6UW.9_P;1QH6KP;4['\FDWTPRSC'"!940,'#M_NI\F:W)MJQG>M2HO4@!\N5!)7--I*]L1(FQ7\(3)$= MI/?%^I3,2TU@([LIW1[/8&%]+N8&B7I,-:Z0XFE^B34P*NZ2:6!-%W*78D#C MLVNVVLE@22+S&V4XO/C)L;3@8JH'MQQPCD.Y3/%."@J?>O620X-8B!;?EB]J M?*O2`T,M!-UR%?/EX[E5<&BO:>WE4UO0!!.O,D'-_K>N,^PI6,?C)Z#<)M_4 MNY7"B#K8`2[BX&UMDD3D#[CA'G7A+^E4@;E!Z-DU_6,"PAJ=_+8`E$Y0-5>+ MU/7VN/:,A+3D8&G'!#8PT_T`>%6X0\4^+Y7/$"@UG':HD/LCY')E'(V31GB= M\!%;(V*SUZ)UT\H:E15Y^5V4%EQTUG&F:`8'GPX9_^\3[C)A>D=@;D!!_V!%NH1# MY._`7AU-UO'@@AS.]E'0CCM``[75\T^M5PK19:[!#3,/A[016M_J:1F@B8?\-W9BZ ME(^`P)*`%PD;HD\,.>%P':_!_XL^,0TKUBI_6B:$,X*]X#NA#3NY7Y<`D>M? MGV)`3Y49%MT:+H/M?$RN8_(B`E#WG=UEN=<^K\M@H\UCEC."K\&46LVM_^53 M#(=`+7L!'["!TD&,"V52Q;P%C(S2>AZ,*8TBX)#BEI$3*66C['<%[\(AD68V M;/7R;W_]/U^U;ORPT-TKFN.('`(V($V!WV>7&@SHB`3B=NX`5;WT$8I.N=W$ M?OE[5#W6VDHVZDQ7;KBTC9><$8(#'!"9F0!275J=V^"^$K0J4,:>Z4J2X01H MT^6=SGL3C^J=K,$?>#M:S77TJ_8(&OP#.V+R;[09<)8M1,T+[!(BK7<&)VC[ MSPN12:H+//'Z"'&SQGK`@D$R#/^AF20)B/X%])W#]`WUMI]\&AR9<)J@8SE6 M+UE[Q)GJ0)(3C:3^??1CTC9]I6)D20GEN`8'529P`WB%@5Q7OQP^GZBD/>P:9Z;JPS(+"'_H"4S?14 M9[06Q:T]61%J32!/':]S:1P0H;>`JJEP!]S;2.OM4P"OM':\E4)!Z&[=S3]0 ME'ZE@!BGXUSG(Z"V&RO9F*JRV##\8;N:,'H,=(BL/#Q^?Z6-A=4[ MN:4EQ[IA`?MJ35*XJCQ57WS$_BC@S!E=RC$5$#-N%`@U>M6&%C0*^&28$?D- M)?FIE=,\0LB<#53V1+^`S"U4:2=X<">L9B=F.6^%%J.:M[E0PW^IO%>\`\03 MZ0W6,Y=+A`+)X>N'FJ`M+&?,.NLA9*@\81*G$H"`B#)#/5]1>V+',&IC*K0= M4D9"Z0I2K2W[I`X;:L9VP&-\'=:6+%UP\J#NT]6CRT-OTMK5>F5/M[.OA1Y( M`R[+:DX:2B(;N.(?/_R3GLHYABFXK4-G2I!^S=YJNNQH#Y%.NYFJO8+F+J0= MV$(WD`+^^ZRD1Z/;S8SH47,S?]OF]0AS,`LGZ(X%$7IF2G5HD@R4&`"@!28< M\C1(9&%"\3(@2$G*`T.N$7%Q[G%BPJJ$GG@8 M@(QM2`63,`[O.P")A1&8*G4VRJ<+183XY_R2HQJ*3RG*!&2)H'=("310-LXC MIWX!@/(0%.2:D:#N+8TD)%"I)/K"-*,]QZ8.OFTS@V+$'I0HN4R(<]1>86^4 MDV$%V-*SI[IT*6!'F=<`%,`0Y0'4R)`#;D]BXB28Z"&`6`? M!>&D/!W68V2M1O^C'1X"H3QZG#IC`"NO,HT/3@]*-DI-;4][I-T/T[U9$PY* MB:\OX+>N3J_*CY3I4'8"61IR&06&9;47].1A6E!:>*K-O&&";%I:>5TS6M\"';BBN^8=9JBK#'R6VLZNH'=51=3(76(^>I0FK5>> M/(U_;B%LNGE.:,F.5T8>2Z2^9GK])46JW[`_?[=U[3R+"S%U\B(M\^9UW3#% M_MI>>?E<0TH3.M-O#7[7D2M7A.+JECIS&Y,/VS-2>00EL86FGNU"0$O1FIZR MN"O<<-\K-NK36,8#L<0(X:9H0T>K"=-(C2QPRK!5:.%T1$4N/MY-&LWU(8;' M?PGL)KTD4W%#A<^`5HG=UV9*WG4SBTGP>I')QR:+4;N;SN98.\LS1U"_F,RQ MKJAM&-%B$8(<_(W.`TAC?74F<\C").7;V!D#MR`+.XD5Z%"["XJ$HUACM0)C M)OU@^,I(80'X(;NA[CIL8(E;\`O.IS0K@+>QW+HWMNF4%A@#M_"00!Q%%47; M%@U&7*E+=A"VIS-$7WRB2$IPW]"@AJI@)A8%9BCRJ=DB]ZQBW9H"+<)YTQS[ M5?Y%N]MVM%@Y>LG#;\%*M:,H'5+;OK[SFCKU1N%R*%'S!-"I"@`0QF;)+\ZR MX0+0`04.0@-FA6,ROEHO%M0J!@A5%S31;+UD>Z@?MG!B>"UP9_0$[(0WQ`U M"IHBFN(`+X0*>C88JQ"9I.?O1NH:0,`5GEP1!D#7X*2R:`4`'?#9@5KS:CU? MY"DKEAA.I9FE9?T`;X,W]$N1E(&[I/?%^G&^U\9?R,^JF-\0,=>7FB)&,B>6 MY.?OQCP0FU&XX<".'E4:=Q+4'9H$S,:VJP:$EIZEL@J52&F03!LDW'WB=^;U MJ'ADD=G=6KGL^35X'7<&IEJ]?$O=,.&@"R7++=.%>9+\-?2&JHB`>XHMP-=Y M]H8+"&VAZ?3-+GZ,K=@U_+[.!U$"CJ:"NSB\L-`E?-;EMEP;*HVT9;+I,A#@ M7PLR^CT3X@LAP;5&)'DUGU@P$CD'8:8JZ.WLAW0P2?BY\SBNP>MN+9%C4H!" MU]S''Q3]J*C1DJ3*("&*ZZEV_"[UZ?C&$V0"A.0E/FH4)8-8+*I=)[[OSX'[ M*D-"EJ6[YM5V\]+<[E!ING740FG94RW7S)NP(8[)X^WG3_])+*"*8J@W/QO0 M:G]H`8/4S4^*>1^CTD!D_PVQ1ORD=MRO'(JV_>//[%N6F=LF/+YI;//FX.NW M1U9SZ?:H2VJ_$DO*&?V&]0R<;EQB6E2>L%@SI`P:6H7".;1>*`UK"G(X;!'R MPX3E`NMBQV`?]),!$`RV*!B\D3T!S=F5#2D$HQBU&B,7=H4J#_!YE!RX94AZ MHYP(?,!+AXI3[^QH?/W3#-3>+0/5;=OS?1V$3.7LAM@03JLSP)B[-,_A8`M* MBLH4Q#>2*AZH8^?(%7U`"SEP".A5K\JI2 MV]K"F(6`408Z%"ST=.:K9E7*6T(<*7BFNC$37<5 M/>IU[B#[6+=(I--64975Q6UV?KY9\8'/6\J(BPR<&W"V'LRM,?$]N94G=C6\EOJ: M<@'9JEE&H1[X3,H;R_2CG[VKMK(W;_9L[J^/?M0[KD8:'5'MZK$(G[;E&H7! MZ5NC8A@XXL@:L#*6W-LJ5FS97:H%)Q(!@DY:H&D)?C0LV MZE%9%LMY%PYQW3BX6$;!L(J;[?U>C^NF(\L)V")!CC)AC4R/V^(]=9$=O1;Y^@EL.MH,#>PLIM]H.V7A(IVB20(\*T/\][5&]`8$3&%-$ M'N3L6#6",X00RBA08N(QAN;V$2/0G4U?9+O#W=2A'4,HX427%$?CGJ\V#-MY M;+<79Y5P+H%TZ2&.(E.SJUG,LIT7VX_(YB,MR9UD8E^3"%C-)^GXUY==97`` MZ#+:K=G11CR8M`]I)C2X#OU+K\&U5%O9C=ANA(*+1VY;B%_1L_;]BC?1L#>5 M?>P]"UH6*BT.I_4`1_.S%;7?_"A>3?>Y]MX^RB]Y#1Z5'ZZF,K*<(U?!G2&< M>&:<*'+O95A9[FI<"V>$**IAQ>HG?#0@U(79=1==(NZA[73/1SIRA"LZCFX- MFPH1.1\$F\9V!'#UMW4??""HRV\]%7@")X8C%VK=OLK,^(6!`CJD*!AWW\X1 MB?A-.1<(UF^!Q2V?&YFTNYI=<`G'?N.-(G#XW9WGQGP]NNV"0S"BDM3N.VWN MO?OBX3.[?-O/%;,G>HD8?-0AU&7#N8S5>>_Y8[NOVR@%HTI<0EWT4.M'/D9< M;9?[89"8XFC*W>">*LRF>&I(4Z4;88R,;3V95(E#$PCGC>J+YK*G=:0UJ)?& M[AA`D_=NOLJRPY,#O.L8+$X'LEA'5H0-L0I;:Y M6`L3M">*OJT\BM`3D@,Y6PZY=#\V$F'KV6@:4\>^83,5VUAYET)(N2RH2,D^ MH@@\C0W\L$+*<*I3"]BPC\W"+MZIO3?DW2O)C#:^?)MF\PWQ>>.5@4%ZBS]! MK`.C)[_554L0=OE\_CZ>/JWIJ>1XVG&O0Q5U]5.]+!`:U`WL[,V;\XJ3P)=9W59P^HIC M9^M9B%LH9HC%Y*X5A0`Y%*N]MH\<6,J'N:AB8"J#-R`(B297#5AG6QA7T-N1 M/"5Q;DS6[^_G#'=-U@<<"K`C9JAC=`L_8737( MC=$Y74%$KT--[-=$M=A9.:2.+W*,-9[)R-E3Q%B89)3\G_&YG MKL6!<`Y5E,2Z:!#U"RI',16#@J(=&$ZVN?O=FT3`)G2/UV;<#O_U..*$X1H6 MQ#Q7OQZ1V%N0F/KBU`T3Z\355B_9"VY,_9XU7'#0YS5ZKW?)>&N;NH;^D,!9 M>'WX`V'W7BD,M:3SDA)C[N#Q+ROU/KND2X&/5%N]X?@\L*]JE\5J3Q'.("14I0G#=2_/D-T"%RJ$>@327BJB5%?1F5L_ M*/H-]6^8"\@<*D]2_"B!`PPH\!5G@M4UCUTXX1K1A(Y*"$Q4!%\Y!2F$.S`69YA![MCQN1CU'RGQ2@79JR3YF,^!L"PX8!N[1'$ M-[Q'MF:0-K5:9`*$F^I+8P-\T=R:$&FSSA!>:"D\59H^-2^K>:CB24^1MEZR M\WP]F8L=^&F_KKQ%12FFV:PF\3(Q81MN+NI-JFXM9Q0(!AV2^PO`DX6K5MV9 M'``J.->X'%OA9$M MAMCT1<%;\DZ/AP^2@_8*/#&Q6[%OC,D^[FZ;?U@K(E\K=-O\^1AS^]%!4M]- M8-%CH:,&SNO99A49BE_93L5'NC/:;WD&W:>'BO03W-SPYXU5CH5;PYT`HI=.&HI;N\HV)(H.81+B&GJ[NX@0Q:]PBLD3:SH M0?*DN`]/5U4$?Y%*G_"AB7!QDS[#!I7O/MMZRG?CN"OUJ^:AWVX<(.0L&8A@*T*+3)MW_51'3\!9"B!Y;!O+";- MKIV(7E,*N\E.1X[LURY_'2[H1Y]*,AH'7UU;N1/770DG[7L792.YW6;'Q6KE M10^ZWWR,#U<7C`UW?.\)G]%[WNWGWN.M%\]ZOW:F#BM$]ACN6R>LS)?'.G.C MLUGS.$M!*RRN_* M-R\9Y_GNY\\L]$L\<&".5,5KDWV._]BY2=D`O*T6-TUN1]](E-Q]&?T0>0#B M9`H;4N,!XM$$+<[GMY/0-KY4V\0=:AB4?4\L[3J[D\X7.+M;^ZK@L.)O4&`] MKK115AJEP4!*>35S19M9S3121XW9MSVCD;L!0[C^'&+B'MQ(VET)U_2QXJ`W MNG1QQ+-YWMWV;]J:V)=@UST3T3LK/Z*&93_\%O2V-;16+0NL$-C,JN+-27Y" MZ@P1MS)Q+/KS[2?Q3[=V?A^//"H\)@Y'03HV1&Z@F7,4XM/MS^M7AB1EP`TA MN.P6K^YN2&(']\XD3A-J>\/Z* MBMO+'L>'R,/)4-"@?O9;V#W$H")_4O"Z>1`&C?T,YH`9'LZIX MK/5P*[O[HMDIE3J`R)NZY*WGZ:UN:*-02:[.B0_=1R:HYU]9E>W6K)+[[=BD MM<3-%$0<5,\I=8I$$%)`W_1"I2X=U]`ISF&(,CHJ3O06K0;$\LIE9FZ(+)8' MD'S2O8LV<:Y;TQ>:58!5!>Q^*U)N&&8+OD%'626!U2=8D2=;XV=.PKWO,CI8 M=.%"<&F7IO/Y(K>?^82RZ:*R]K%BRE&:E\P-2(]((WNCLDJ,0T[HP8)P M`1<[6J3,;.!N-L[Y$0@*1:9:.:]".E+KH6X(8L:;A(-=\,T%1`R1)GCY#K\D ML'%F-HF>>J+@;?,WI[L&Y=K&OT6%]6+(\J@:.Q>*>20^%/;IJ+,,.;$5*-N* M/&T(5X6,)G(<4V:6HO1+CRS"$TN9:N'7O:3AZR!V64FHA8T!!BZ&<3V!>`M' MQE-^4%AU3R'"@YS]$).I1/S,"?$O"E4Q7*E2%*]JD$(*VU6'5+%0,7YHO)GB MGA(KJQ$#Y/>4NZ=@X3TEC-.B=0+0HK)"G(6RXLX09[F*F4-$R1QX16%MP6$"#S\PF0E;3:R)/V%5? M6IQ$6EAS6?5TQ`U!U8MVVK4-RA\6X%HB7<)12[C>UFHP60J^)S?:?XM;R3WA MVDN/6'?L]+-'R>YM%H_N.X^;[\1(K:2)0VJ[MQ,R9\+;$>GOL/(NT-M`8U,= MG=6*U[QRW`WZX[3Z-M)CZ0JH.WH0O]]/Q$JVJ%" M)"%\.D7;27UG,3OGW`4]1_51A0H=/>\R9M0I?6F/ET<*SMYVLT@T[03GS0`9 MJ^3F9#Q1F2L%*&#BQL5M[F;$\$;D=G3/-@ZN(>8@3L.]!C!D&FG#3GG4BGQ0 MO#NA7;8\1!&KH37_P\5CP#%/U<4I*Q\/QNC:\='*A*U)@$']0PW@>VV3-5PW M-7HL%D6O$IE?@`T(>4A/HL+9;:!"K&(;-BVN6M0OEE]>-_4.FP?0,FO,FN"4 MKSXJ!S8.O\J`XP9%8LK#1VXP6?+W/9U>7X[NJI[UP1$!'4C#V3D=J3B[ZU1S M<+4G$VV4`OS$6;3TV'D,NFD*8C6_>UZ5+_5I;F3E5,@5.UQ?*-N?S@",!225SDQ>*&I:&0PNOKMH97\?1DFI2T"5P1`#A=WFC^QUE8F MHDV\87(>L&(2-A,B!W70BM5S0R.^G@C/YIMD-N?J?->%D2<,VF1#4SY*NY+B MFF,!*5E9@ZB"JS%!W1*)]P]/L[0$:,+W?(>N_MJH5,0O8;*^@:*53=NJ=YNC M.":?D:8-7E* M;%]?[?B6T`<'_W[$$R&LXG;!"UQM77NI7H"#%G*R=8F-2>@T7`VF:!C' M[^_;V4@-Y/Q<3T&%FO/;'XP5'C=,SEE%W;HO.QKU?9V4'CH7BR#':E#JQEIG M<$^)&R(H3$]A>W#3_S\`RS>O'^G>QQL^6GWM`5AW>V1H(FL2B-$9T\$#J8DE M9)X]5$\A(D5GNC()SX/;F1+3Y2.OA9!E"[N&+B3!8Z&S4"!ANH^XE(+"82H< M?R7@0PA\`9_*ZD>O3^9R/;-@2N(#>I1+JV:Q9P^TP,4-7"*):NN#H.W:AU9W M=4H_N3^=-S:*N(6@B"6#SZE+1YW+U%N)'3^=DFO2KQ0R4PY/EGGVOGDZCO,% MDE/[7962?&(8D4?UAX"[A%^3AP;Z/H!K@(9VV.8T7;C<6'7Q\<"Z8<1TOYTE MVK$Q^$>M&PP,9/;&[-F!7>U:7868`H\Q$."'YVU?-BA!8N?QA!S'WK2(NSM/ M0^:6=`L0&.`;MY\MJ"G*IMKZZ_(9.C`W?L-0C7H":;)(L#C^%]F]DK+CH"CC MKSJ,9U2_Z[/ZDE;>#&ZP&GJ_*XJY1RZ#G(%MI8NT1;$PZ.'VHZ?_].LOA!Q, M'S,%M^XQ]3CFX/%5[#?XGE!$7:3Y-%;A!X-&./*S,1K0Y,;FIPG&,B-G*SM> M8Q=)VGJPW4@0/-B?D0\7@V6N:,T+5L\?Z#BJ:\42`E3/HLH)D1VN2@8%>+IF70!@B-J9[D&ES?B.0WQ2]2(WTPS07!GG4']JO1& M^[:`^V>M[VDQD4J]<8U,M]S1N(VZ#"XNK-Z]GA1%J9=F:K[2VUF;7$_F3GH* MRZ(;(&^%04!C5`TI3@+OZ594Y\!X;W+@IJ2LX0&$BX&HK("&TBCR7(,LF#LB MG97B(J&5')]3CEOH/S)+(88IJ M&MDR&0`XN]%(#&PYI/#1'%8SHQ(K8`>QE0&2J`(GNI*9E'O(H=A(9F,X1!O+ MG_"G;8#$QD1!5(],6M!^][N*((9LD[_G4Z9<^QS-RWMB&&F=,9<;5MBM5%+?!;U]=:.N,M(T'H`,ELB-YG#I1>\6(3T^&0@JV%H.8>6$! MB`',V(P=;3;[M'4-'L!'J!3C6I@8B:T5M\']`:CZL&411,%X:XLI?K,=C:01 M(3)LA,^3RR\JO_.3T!DA7<86,2;*^*SI6A6Q]7SNLML$V&C)"QGJY-]\4 M!=\Q8_&H)Y`C?$O6?D>(*-5#J-$N=D5)K=0="*0780`N5]27+LPK0?]IJO)T M%3FTV)R'>&M?(*@,%)2FT-@61!4\:%T;Q]<>E`,D>-YW013CBW?*RB("$4M, M@BH+'=S`GCT..F$R1BP;.[)/O>UM[@Z\[61,@"7P>92HNCO9[.5ZL:)B0D*/ M9N<*(S;Z*DH`$?#)&F#.AH:[JD)Q,>K)".H+8N-V3)A\I M,U(QT/W8D].)R:(+U2A\,PB14)1_.5=0ZT.X\TD\DZ3<7VEV7,Y^7L^L@,'F MDZ]67$Y@B[$`6X#G\>-F776KB`>P*$( M9(Y>4,08D[E`M6H\W!';;>I#7$9PH`032V[*MBHRQQ2PR:.]J8R(\?:P[E4`#TH=,X_7'0/P] M)8[L_CJ]'>\Q>^;WF/6H?BA-9UY*..R(/&T1-C4/3+O_+A:1LX0]'J83*?MP MN==N':NTR7GL7FS>.W79Z/(UU1YBG4Z,S>)C0\WT!4X/Q]%$_WG'?Z6O030N MU8(L0U^#..'SIE5VR(UH1W-2A8HBG.5DI:^4\@\?CWA@G:ZRC]/)%Q7)2CXJ M83J&-.V=EW:/(W_B&:;H?XT60,AQ^2ZQ<#$H->@8,G2JRV,PV1@N,3(?O_[^ M'>:H7`CB)'S"%&-:-FI#I-$I9EL-NEM/330J"UYA:S8VD/]MX@?'R"`M;0+F M5QA7.D2U;IN.B3A*N6,L6V"/1KYQTSL.S`G)&S^)1X>(A"@JM89@\;]J-#0M M0H8%7_&U>872*P4_K(ZL?D?\"73FF/6M(OVRTHE0V]EWQ57]9Z@#B^"`O>I5 M^),MWI!LT14P)'),6Y+'.E_F7'@D$H;L39T-:BP]59!YU+/_M6O;@W@$I2X7 M#2*,"#RHZU"/`KV.O$I69K$=P*;YZF5LI3H_/B%KGL0GERT%U@?C;XWTA3D# M4-9N:35#9F$>Q$/UBLMMU*7S"QH^+$[?,34,&$Q`\)J,*^/QI"_8).\AQ(B5 M-%5Q`7WXY326GQ0056T!3650[`+YJXS@@-^C\QE5RBAB;M55`V((8&;/^[+% MUG'`,$,]QTYLA;6XP#&Q(DZ=#G2`);;)H./]Y)8N@-'-1M'XN*9RI2-!D2%& M?V-M)E).*"F3/ELR;(G*(>06?XW3X)X:PYGV;9Q;H&M5#T!O M0TK=22@J#ZL)`2*^7C+`&ZGF5XP80LRA`"%4AM4U9O+.,)/F3=3U9E;9'&LY M1L`MH)'6V)BT:R9A)"^.5!%H2+IK,L&K=2.E:FU!>ALJQJ^XZ$6P]51DS2MN MWCL55-"=+WP\.J&>I.J--P["*5ZHF%KPX(_'11@/$AZ(IKX+#_DE"`:'D"%' M`_KL`8J3&+\*I=@(MY0Z0,W?RFC$ZFW5\:'+C*,%Q.,T#HQPC0.TKW2)-^+YSC-VV)+P(.]SF56W6I]BO'K=L^NXB7/X?1-)\[NT3 M@_97$3MM0&VPGNTF@K?P<`(V"Q[$/$QP`!JN5E?>O4,3?:&+='BLQGG1)`NA MG)U9*,9//RB"11@QEL<(XZ7:GK0[;6D_'#J]_JDX2!+?T=M&AYDF61N&)DVE M,6/RX!*R1HPA`RWQ_`\=C/_2;URQ$]$^/",$4Q0]D9!S,T3>;F@@ID[`RL/S M:)/Y58HG$",&#?BG!_08W(!.YXK]^C+:`45B*N':PI^TUY]$#V@7Z^D-W-C1 MT>12WGS54W(R"@>P4=WB_;7\22O"U39'[PI=7A40C92)OKFF3183>'C)OTBD M'X@QY8*!]RWCZ`K>V*,&PLFY%D<%!2ZA$:X%DH/F_B][9[8;QW&%X5?IBP"A M`%&6(@CQE0"*2SR`*!(<$KHPYWE/QL&%>,,+G"BP,60G?2!84*(I-0A#HIT,4`=R(BU'`ENMVNZ?[9_-9M]EB3ZM#L0M*@$(H8<(V39 MID.#6O?WO840H2H].B<[9L[Y.K"_LM=%^(301]Q(@JG0A"V)R58ZC%.;13%I M6;C!")J2=.%"(2M3-,T9G4/DPH_J8K9IQEK(W[^(/F85(F8,:(VD;#O&$%`Y MA7XX#HP(1@_BCNPS1;]N?`M#$U%`_.GT[)\<#KG>$`6ADALP8O0H1Q"C\V$0 MX;)I&Y]I'B#US`D'JX4=R\G+RR'&+N9?N`:?*EN]>)UH0C]7T3N7)UT5Z<59 M8#CC6<:[,A]5=`/\TY0T&FV5(MQ<.NX0U\EB14/TBH;(^`.X9]/Y<'ONA;U3 M9`N+38')&Z-LHF\.'L==<+=:7U=T,619#T+5M6!K/7RSGT>$]$PW<25$@W(- M`TLWVZ!!V=5U7P/(^NGY!_1T_:02PLJV0[1<6+F(.!F#FSBM/;9DN+^Y2Z+5 M`.12QD(=607%6H1QX$*]TIIB/%*(@=+13@2A[(%7(I<3NQ& M%Y?;EH>PJNG:>$P50I14V10'KO2FH\<&U,%$Y[>A^"A`C8N3P()F!G2V5SW> M1VRAQ7%.W#4K``N:V6%>%[Z&QO??1KM1L@M`@V:@V,A!M/[(:NA`F/H]JS63 M6;>%R.J%B1V/V.M-,=GF3N6X8Q'_;Z[Y$WUTJF^@EO)X_@3X8I(U;ZS5%C09>W?!@]G'F)\J2Q%898"IY#!Q4@C^"2U?? M@,G(G\)RSSE*[(L2UH3E84V0R4*("2LE27YIW>([C`<_SEBTB/^4>(:K?PFV M1<@%;D.L+A!0YLELH[(ML?Y2VTO="PI:/0!'S(,G`-*OH612`Z#E2(SUZ2.: MN+[!SSX.EC0J^)B,43H6%_^X.NN04"Z%4K&4BH=C1.;1TL<!)"C22<&$K M9XP[!9[9H4SL@(XL.,VQ/L]+(3G\W,PM+E2@L'@]2O-6/DL+;!T@)V&!+<\, M_,''8K*-5@\+6ISAO-O@282@0_)_\6_JZKG"+<'DB7:@L=6^#-<".=M'3?A__WWQRLNSIZ,N[K61#3[SK/L*=(@:CPC!S8U:^5GYNT6[UZ M2=]@]HI^H\O`[33)S\C6QF%U-?5'J"!..I'Z5K:V:9IK.J&5;::*6N)#16H\NN%_J[GGB_N!VCWT8AF\=SK_PHDD:G ME3PD`$D0EBR6`WO0+;G,**:%[4#K5NY\-,"P7&&S#+`I=I?ICOZ.AT^@\9&O ML/FJNZAM@%VA"UA`A#;%AABJJ!ER)(L/@Y;.:"M#%A!_9/JGK;1^#PR+ER)3 M5W2(`"8MI?B`/9?6&[*<04Z6,>0=?L/>HAR`K`.%EPR*2V^+_GQSKYI$#47[ MK>*6WS`5@M5A<$'#R"]QI[\D3]MR+\\TIYB[)8HK%2K--*GN"+NAQNC%EEC3*](*6Q.VX=>I9ZN# M6O=%.T@^?7_4)N4V_`9KDWY3I5E"S4,*D4)-'JBWU\\IG`^G^3]*D1JY1K6H ME^P5XT,M>B=#XU?:N9'H0S/+EFH2/E?H*2+U]6TNEVKTVP=ZQ\RMZRHHL>]](X, M^7IK;)9E=M*GTI!S^F!\7]G!>[/+2FA/9L;^35G9V+F0'>I)MW$RW>G^-#AH MI)[;9]]^GM>+]SP?_74O1-26FPR`C0RR^%(^!P=T+\WRAU#4M'R,E_PS,K"Y MCWSY8UC!@\OLM'5;V:7@EVG*FU1UGO_Q+?DINPDFJ/G?!^W?6EU;3GINO)6@ MM(3>K/U9^>*$F.4K:K2X]#CP,RY??[<\G""D:3@HRN?MMP<&V/'7H[2>M6^A M#4GG=.E_>*#[\0V;*$=WZ&F2L;B)D/3J%137E*[R]31U2R&'P@1:9@>)Z9-!N:R:JOM2L= MN:+G26":+^Z?4EWP]A/9V)2XQ%2>TQMHU)`2F>L@6FU;`M"ZE;-]Z1!I^7@; M#0O@/>I-PA#"P="A*M]&O9Z;$?QI=WSQ;Y"3UK277%.@%G@7N%6O_Z+[3XN/[1G1+KJ05,.&F<80X?+Y^N-,6Q+:XS1QZ9L?#\6\#6I9A=[ MPXV1R]C.&M-_51_V.BVO&'3P^"G'W!"VNGLS:,J5/^N>_]5!_+*WB9OZL2EZ MJ-/3[DTH(3']6;6=)8UD@H$&%VUT``/\ZX:8OUD1>-5W#H'1+9FQ&V.8,2>7 M`2%0%=%V8YV)EY3C3Y3=7@0?A5I+;L%#(Y8F`\<8^D6)[PGZ%[\H&]V%3(X4 M3K>:W_$(E=\&[J&A9V`6)%O8B?685YB3DA"=G:.CSX`5TR214&IQY:?>2W!V M+(<6BN^6CY>'F7=AK96O'_7A$W!$E*+B?*#A+$6AEO=+A-&2LC1%QY5@&%:17S(4%0`M*-V%DK;YA M5U]E6[:8E0Y<7-!R_/%WN0J6OP5'1*C4.6DB3GLNN.Y[C65M,^`V+5]#/5^E M>+TETMS-*N\,"72K!KT=_.F\9008)1PO MUY];$P0+&5*="?7,N_%-;#A3I1MOYK##9G=W0&+E'+VF3*1B%0WCW;+C__U9 M>_#YP4BI)OEC2($Q[3UW'0)*@1*$^GBCS/<'1,,%I="(HK\F44G[=MCHG2"Z M`5T61;%17;738W*OH&JBWFK7`K2"LAV$:#9RS`VDT3M9!JUG'4 M8*_EMZ&\W4`M*8[*+@9-D93`TOPK&$%^6^4'2B6_^>(O MY6,'D\)=O;>8:/QN;M?SG&BMGK-;890^`*;LNX?4-G7.[H.[K;Q.61>9)'H7 MB"H4J$/:.TCY7D8O0U)Z?HEP8\KG4J[!Z,O$OYH'\=T^PANK\5V-K[<94!V+ MA.HEV+?^RH/ARI7;ZJ7$%PH M[#&:/D$T>"6,:3?O+3(:67!+*`S(58\<'57N^J$<4Z`#\:7R_*Q2V^-W7:WQ M"'.T9-^@%;H#^!K+6%^G"19-0C10QN!,MS.L%`!+*`J>14G98RQA2SFSU#D: M%(YY*E>#+_S8TO9`.J(.KB1*=E.VNM"`W_WS0C"G* MEI\]X9ERQ1G_:N>*9!W$$>!SC^\(]9KP6TO6]MB_>[(QWW+LE>G)HPY8'L>[ M9EFLLI7RQ"#-QD5IG8-W2`3%/.-@:XM%5-@EL6(85,[P43X;H/]+85+[>;U-U`1%KO*]>0;]#7@%8A=!\'H]62 M"(V1')EU9YDI!A M"0^7*#Q9F5'^_J?HW?7G9T06&J;WLCJ0#:TJCL$S.$B?T7&4B,;Q+XGREPZ3 M5)28O6$&^9YSEB,:9'%O'<02J'_`12N;&IW[:C3?LY0K:=@0U7]A&'$YZ:"K M$(^(Z06-XW:V*%_9HN"V])>(12F5:_G.R>K M.?K5/+O--@XDK7A*9D^>JS=)E;M>7^MFJRU;V\94X>EA/3,LYS@X6!I_D=<] MB33,L;RZ^">>8IN,/;)W"69EXV1I6S:H?#>?+U[_'P``__\#`%!+`P04``8` M"````"$`NK,?6QEOPUW3@#?;,/(MV/X&#T,]KO(L3=[;.1[`V,XO!SXMAOH"84K?RU"Q+>C MI\/N8AWZ.SMV[UW/C5\8+5WSUU@GBA&_DE+?GFPV:A7^I:(O(J MW`"(W_W[$,;?_B;Y\^8/;]X,__7-M__XP=G\\\??GW[WXS?Z(&-#:((-ZFF^ M'=:2A:\3RH-4@IOK;1@4@HP!-%/0U5,0?@TL_`Z<`<3#G]U<[W_6OM@>7!DA MO'7HA9$6@Y5!/G8EL'TG^<7*]MS[R,6?;6W?]5Z2RP9>8(Z1_LYWP4QX<9!P M."^?>T23R31#&)Q,8[Q"9?)!)!LOULMD_U0B$\=KTLRKB_XX7DR*>KFD\3KU MBQ,==N&5VXKPB1[N%[IE00X9#8>H5FJPGIC-5T/@=S9FEY.S23:VQM94JF2< M+Y[:#1F.+9FJ;&!HO9N^/YLZY3.KDBY-P^>*``PXN5IT(71KXGMJX>LHUKHL!R/G>N[^RU3\Y7[8?0MP/T8%I$LHZ1JX&Y?"B??)5_2T*?Z9]X MY"-U4ELG3*$YK35&7DD\]PTU* MR'+UM,#-`FX/D>AZ7CZ:'YLXWH4K-]R@]%N`',@&,*# MY'<-OWZ([)>1P<9\8@WVH>=N$,7#BHVQTRY\=7EKK6X97X),%$4%4KND4P000S,>S^:4!0(;FC+$Z*X(Q M`)A.)K/):&Z8\#]+7OTCD*W3B:[:J@2!(JL2!(JLRFJI@83,GT8*3/8JCE6" M0)%5"0)%5IU*SL!3Y58E"!19E2!09%56_TJ,55CY41RK!($BJQ($BJPJK?A, M,_!/ MR;6;:\_9QC!*C-R'1_P;ASOX]SZ,8UADOKG>N/9#&-@>O!UD+;*_-2UA&1Y6 MW!=Z_.BNGX!9,I.65[\)-631%X<\$YE8X9M3HKH$8QP8D.@YQ)Z@[%2L,`K9":3[`%,S6SM&`#\(G,)01;R)"Q6'43 ME9&T$).1-!"4D;00E1&9=3GB M7$(M07*D;^[GKX,!H)*&&9ZC))CF)US&2Y9>A=-=N;A'$IR2)U(#A7;=E;`, MYV8B#*S.B&E_#=W_VO&\S]@A_WV;UP`PU75S_;PE&[=@-QWN;,)]8?@6YI/3 MMTE_GWP`'5#IPM^LX`]Z$M9'%_XP&51J1-"+ M4O[@7,+\9?H#3*-D^@`34*>NPR,3`0SY,P1@!!4(<'-F&MC@GBH0P%`J0P`. M6B``.#5>T24.1B2;@0\4+(%_7RPAQV12H.B+IA"X/K@ M,\8$]0:NAU2$`?`HB8JB3H"]6\HAJ,J0Q!L,52F28E"5(PMO,%2E2`)!58:D MEE"5(BD&53F2F$)5BB000"-*,B2UA*H423&HRI&%*<:J4B2!H"I#$DN,>TZ1 M`SIMFDRBDOG3R^FKYD^UYVWC1.JH:M`$=L^:)Z.G9.0(MF!C*3*4QMMA[6SN M5'L,(_=G&&3B;;%KF$QU(AUOHX[=-;WR-;)W=\XS#$63=:?G;?5<+R#)YC>. MG9%'6(FIX`^3Z[K6AKET_73`TET1C9*S07WCQ/R19_"3VXT>T@@")W=48T!= MIQBDNX"D$*&V$L=8;JSS!C?F'-4&_O_5'A0FRK5'PJ-[5J+Q@*OHM,-0G["E MHNNNK,;L*=4T'7HKG&,0Z[<%DT\;R4=0.2MCCM,*ZIA#I:J..5F7`25P8SB^ M5NO!YG!#F3K)BB&IWSE0X!MJA)"97#MX[J:.\! M+8:XB4>"RPSJAK#5%H%L?90>H##&47&"H1>+B`\6>/<0,E`ZYF_22"4&7+:4 MHA'J-;]D4'*F(T:0I?I2FQR$#79MXURM`%7&WFL!M4E^U,T;>@P^UBRQGJ)M ME5#>EX$F:O)R>5K^3VBDQG MR)[V;2-Q>^;')1GJ+)U`:D^L1>_>>39".KJV`4\U)7M`3OVNNZ;(:DM]X/.) MLC(J^O7(!B=JQ5SE7`6N[XFEGQ[4/H8R5QUS[`NAERVY\:"VDI+N<'W4!:U" M4\/#1Y)11V-/2?J-/G`WQ@TI8&AN;6GG' MTN?41JLA<25"",8ZXPE%6K;IHS&58^61%O&XO>:\?3&[44?!&C3;Z`-;>\B- MDOQMDOE&(`T/4H2S](>_U2ZT=VM4:^[-N+QU?W`].`(%RQTL#@DM.`>TM:T($.F MM'!;9:$O$ZJ8MKB@24J+U_U$4/=FF1W9!N0"%XHL@HO2*NP(FB,R8DYL2ZNP M(QB.T@*1V](J[`@("2T3F+2E5=@1K$!I@;NUI97;T03#$5H30=U?EMJ1]U5, M9R*X**W"CKROXB,HVM(J[,C[*HKHO@H[ M\KJ?".K^.*/R'F\(>GQ"I;`=O",ZPE&)B(X2*H75>"\?"WIY0J6P%^_?IJ!_ M)U0*2P$](I$)7XA+E-MHS&O7%-3NTMYD69=W&.QG1&#`R<#K@P=/PPGQ63IL M-RRN@1*!\-X'(4J/SOI)6\'A!CDA/AZP&Q4A=/N\\^S`CL/H1<,=L#DYWN@3 M07)_#,-<1SP%'&F*`/H3/'D('FJD@5X2#?$^C"L8;^2C M%1(5>_RA^M\\%\>C,+W'^&PN=G!*/AX`16VO/\S.Q,,G"G] MU??NES!F)!9Z\?XC'K8&40P31Y!N/N[A`"_XJQTB=Z'_YW8YG;^_M8R+V7`Y MNS#'SN1B/EF^OYB8J^7[]]9\:`Q7_P65X8/,KN!)6!T>%,8>:`:[_$?FU=Z# MQXE%J;`I^,_%M85./B3PV0E+`!OV661"#/;Y@]9N_@<``/__`P!02P,$%``& M``@````A`/MBI6V4!@``IQL``!,```!X;"]T:&5M92]T:&5M93$N>&UL[%E/ M;]LV%+\/V'<@=&]M)[8;!W6*V+&;K4T;Q&Z''FF9EEA3HD#227T;VN.``<.Z M89UC1"SF67"72( M6=L#/F-^-"0/E(<8E@HFVE[5_+S*UM4*WDP7,;5B;6%=W_S2=>F"\73-\!3! M*&=:Z]=;5W9R^@;`U#*NU^MU>[66\/7.=K?;=/`& M9/'-)7S_2JM9=_$&%#(:3Y?0VJ']?DH]ATPXVRV%;P!\HYK"%RB(ACRZ-(L) MC]6J6(OP?2[Z`-!`AA6-D9HG9()]B.(NCD:"8LT`;Q)__/QY.1`R:"'1BR^?_/;LR8NO/OW]N\*1R5D1SBB!4-?A.KL$S(P5SX15Q/*O!T0!A'O3&1LFS-;0'Z M%IQ^`T.]*G7['IM'+E(H.BVC>1-S7D3N\&DWQ%%2AAW0."QB/Y!3"%&,]KDJ M@^]Q-T/T._@!QRO=?9<2Q]VG%X([-'!$6@2(GIF)$E]>)]R)W\&<33`Q509* MNE.I(QK_7=EF%.JVY?"N;+>];=C$RI)G]T2Q7H7[#Y;H'3R+]PEDQ?(6]:Y" MOZO0WEM?H5?E\L77Y44IABJM&Q+;:YO..UK9>$\H8P,U9^2F-+VWA`UHW(=! MO-29#`P<7""P68,$5Q]1%0Y"G$#?7O,TD4"FI`.)$B[AO&B& M2VEK//3^RIXV&_H<8BN'Q&J/C^WPNA[.CALY&2-58,ZT&:-U3>"LS-:OI$1! MM]=A5M-"G9E;S8AFBJ+#+5=9F]B(K5"MQ:FNP; M<#N+DXKLZBO89=Y[$R]E$;SP$E`[F8XL+B8GB]%1VVLUUAH>\G'2]B9P5(;' M*`&O2]U,8A;`?9.OA`W[4Y/99/G"FZU,,3<):G#[8>V^I+!3!Q(AU0Z6H0T- M,Y6&`(LU)RO_6@/,>E$*E%2CLTFQO@'!\*])`79T74LF$^*KHK,+(]IV]C4M MI7RFB!B$XR,T8C-Q@,'].E1!GS&5<.-A*H)^@>LY;6TSY1;G-.F*EV(&9\F_W4`BA;JI)6@8,[F3\N>]I!HT"W>04\\VI9/G>:W/@G^Y\;#*#4FX=-@U- M9O]2!=( M.SB"QLD.VF#2I*QIT]9)6RW;K"^XT\WYGC"VENPL_CZGL?/FS&7GY.)%&CNU ML&-K.[;2U.#9DRD*0Y/L(&,<8[Z4%3]F\=%]2\+ M[XTU(N?5VB=!Y'NL2GF65\>U__=?+P^/OB=D4F5)P2NV]C^8\+]L?OYI=>'- MJS@Q)CWP4(FU?Y*R7H:A2$^L3$3`:U;!+P?>E(F$Q^88BKIA2:87E44XB:)9 M6"9YY:.'93/&!S\<\I0]\_1X*Y/F]5P_I+RL MP<4^+W+YH9WZ7IDNOQTKWB3[`N)^)S1)K[[UP\!]F:<-%_P@`W`7(M%AS(MP M$8*GS2K+(0(EN]>PP]I_(LL=>?3#S4H+]$_.+L*Z]\2)7WYI\NRWO&*@-N1) M96#/^:N"?LN4"1:'@]4O.@-_-%[&#LFYD'_RRZ\L/YXDI'L*$:G`EMG',Q,I M*`IN@LE4>4IY`03@ZI6Y*@U0)'E?^Q/8.,_D:>W'LV`ZCV("<&_/A'S)E4O? M2\]"\O)?!!'C"IW$Q@E\&R=D&M#)=/XXPDN(C'2`SXE,-JN&7SRH&MA3U(FJ M0;($S]?(D$<;ZZU0(4;EY$EY6?MSWX,H!.3G;4/CQ2I\`TU3@]DB!JXMAKB( MW1`11[,6$P+CEC8H:=/^?B*N[!18L5.)472W:+"I3-IM-&(W1,2DH^M0`=7& M4U%@R+XE`J61N_<6,;2EN[,,SL[4W5GECMZLRJL8:I&NQ#8-\23N,4`,7"T, M=3&[*T:=&SLS0&"\'`K<(Q/W4K%%C"6'97!VGMVSLP+_7R(08^UL&9R=H?#' MQZS`_9C["4",M3,:%OIHD0@_;4(<+NJ=8QWHST^&`O>Y="<.#PMB+"YHF,TT MF3B8TX7S^?K09=!AMKB'F0+WF?5*<(L8B]G58-5M//V^3`1>`K9.ZO#$8/M< M+[W*I45IUQ=0,`.R>+66CABE-U0BJ@N.3J!&]PGUJ\F`;$+8:C&%9*KJZ89, M=S5:@FT3KFWCH+2?-0.RV>`R9/,9&=4(+6E&Y@S;ITNJJPJ3,ZO'XAN`H,64 M^230O,S)@R_R]:&3V2ESHCKC_2RQG[HL^T=1NX8FW[T:C.4'6-[5I]6PTSN. ME,[;DC$:6HW9:(@64V:WBZS7N4?F%;NQJ]ACGY/5L@TGM/R`8KTN/Y+EL-U3 M.AB-!OV>V`U_ILNNCW$_C1191RV/\#`7"=']GO2'/-*>`4[P-(HF$,- M-3ARXX/DM1Y;]US"J*QO3_#7B,%@%P4`/G`NKP]J@_;/UN8_````__\#`%!+ M`P04``8`"````"$`T-&CJ1H#``"A"0``&0```'AL+W=O$^&"LC9%D1\BC[0Y*VA[2-'/'_>%'E-OGHXM(SC?0V^GZ,$YQ?N_N2* MOJ$Y9X*5T@>Z0`N]]KP,E@$P;=8%!0>J[1XG98KNHE46A2C8K/L&_:+D)(S? MGJC8Z1.GQ1?:$N@VY*02V#/VJ*`/A2K!XN!J]7V?P#?N%:3$QUI^9Z?/A!XJ M"7%/P9$RMBI>,B)RZ"C0^).I8LI9#0+@Z#54;0WH"'[NOT^TD%6*XID_G8=Q M!'!O3X2\IXH2>?E12-;\UJ#H3*5))F>2!-2?KT_]9#*=+T:P!%I1;S##$F_6 MG)T\V#5P3]%AM0>C%3`K9S'T1^L8O/[+*GA4)'>*)45SY,%R`?D\;9(X7@=/ MT-/\C-EJ#!P'S-R![*XAD4V272,,D@`\#<:@7::QOT=UT:_`2K^*3AG:ZH(E M-K&E[-Z'9->0)'ZEL>3&MMQ+#F_+5HL@+Z.E23RU96XU)AFL[=Q"9A0L2;`= MQG=0@5,$AH=TDWCF2-&89;\_XE!];,#.!"0S>,DY@$P#>C.65'B*QDM58%?J MW%:RU1BC:VXA,PJ6E)DM95R0:M%[06J,(\%I MC"')+61&P9($,^T_VM.CW?ZXT9U!;SR$9\2K7C5:EQ( M70LO9T/J3V3,!K[GQ7\%2+PF@Y]`)>,R@,FE3112-53=)FW2M.NS`R:Q"IC93M/^^YV#@8)3 M5?2%B_G\G<_GQMG42>N28WVX\?-F>I'O21<^,!0ZDC"EL22*Y\R`?GT4E6[9BF0, M7<'4PZF:)+*H@&(O:U+B%R@?<^@66`C"B:P`:T?]:,[ZZ8X9M-TJ>/4A64*TKAJE/U\#[ND_` M&8B]17!$KB!J$=$0F,=ML/$?P?5)@]A9!%P[!!TBXA:!T0,-G1!PS'@A"$8A M&"Q4MK,+?;NA8_<2,>L0`R'@A;X0S)89).K;GL%-@.N=>]ZQ6X464==&O1#W M%@;VYT/[;]M%<$3@;)V_%XY=BX!KAU@.$7&+<","R=UWQ-M"$#P4C_<'@HFTP`S5NC#K,A1SLR&JQ M%[*P_XV79;OE0)9;U[3MJ"^MCCI%%W>8"SD0Z+Z<<6T?9ATWJT.WP!I,K_,W M*\NZ]*]G*QK.7[+/MAP[V-@_=<'5@<<\S[67R!,.*A1V=JO=Y-6,1-T'F&$J M=N#?F#J(4GLYSV!K,+V"-JOL%&1?C*SJ.6`O#4PO]>,11EP._]5@"N!,2M.^ MH-NZH7G['P``__\#`%!+`P04``8`"````"$`+2V$&F<#``"_"@``&0```'AL M+W=O#WY;O*3[+XSDWTB#H=C0)MF`#:6/DOJ0RR4(=DZB M[[L&_&!6C@NTJ\1/NO^*R;84T.T)&)*^IOE+BGD&!069D3^12AFM(`'X:]5$ M3@84!#UW__(BLH==-^X37&TT/6/4.V M#RP=?4&U3%\!]/U\QWH;,DBWX?OZ^Y9G*#IC=&.E)+A5GW,V@;,;*7$C-A?5@0A`,+8 MR$UQDF[2)D;M5D,P#EUCR-(AG$2F[?40]L,D?AUCS1+LE?^?+QED6$MT7Y"%RXP?F?N]A<[_#N3+LQ_41DV0ST]<^=T?/4G$N]4&AE_N@X:$73?0^ MKC7\4I3>%CQS,KK&>POVE6W>.`-P?6K3%WQ';DH9;%2Y`TAU%L(.9NH&H M!T';[I.UH0)N#MW/$BZ*&$YL=P3D@E+1/\A-<[QZ+OX!``#__P,`4$L#!!0` M!@`(````(0`11XGQ+PD``"&PO=V]R:W-H965T:[X!X;\`70H*2C-JNRXPT(XU6>WDFX"2H`2-,.MW? M?JM<%Y^+%\QN/X3.K_Y57?^J4W6.:3_^^F._&WVO3LVV/CR-D\EL/*H.ZWJS M/;P]C?_Y#_7E?CQJSJO#9K6K#]73^&?5C']]_N5OCY_UZ5OS7E7GD1GAT#R- MW\_GXW(Z;=;OU7[53.IC=3`MK_5IOSJ;7T]OT^9XJE:;MM-^-TUGL[OI?K4] MC-T(R].0,>K7U^VZ$O7Z8U\=SFZ04[5;GSV%S;\?KL^U4W]>IZ8 MX:9NHMSSP_1A:D9Z?MQLC0.[[*-3]?HT_IHL]7PVGCX_M@OTKVWUV8"_CYKW M^E.?MIL_MH?*K+;9)[L#+W7]S4I_WUAD.D]9;]7NP%^GT:9Z77WLSG^O/W^K MMF_O9[/=<^/(&EMN?HJJ69L5-<-,TKD=:5WOS`3,S]%^:T/#K,CJ1_OYN=V< MWY_&V=UDOIAEB9&/7JKFK+9VR/%H_=&C]/ MYGSA?WMRS+PH]B/L,H\\&C M3-U&M?LN5N?5\^.I_AR9PV2VHCFN[-%,EF;DL.%N>V((_+<(,%MO!_EJ1WD: MF_YFG%DX>WN#Y\;IY9O* M=C+)&=Z2";E5"J?)XVU64B`HD!0H"C0`Z"S9"A+DHPI$`#9=$>\RM,7MH$`#@(P\W&+$BJD1XFI*8=O5*NF!DDV+KP(;!4CPI.'=A7HAB)4QT:V0S:5#SY*B4O\ M^"R1?%QX$33DNG5$,(UD1$72$YXZ-C)#-O\"0_:&RTP87KXC$I>UL3&21@HO M+'+P2-9(+0J!&LEX2-9)A56P,YU!#@F/39F7@_(ICE\.Q8Y)GBL2)G&.R M'.6E1G&I45YJ5+&Q7_K$WP@*E#8M::C!!FVR!P:O7#.N M-,#&6$X']8,K51)*!".2$<6(A@2Y2$EE,FR;VE[7*F$O`MO$B&!$,J(8T9!@ M-S>5)6E/69*26NC=YT7=W$M&!".2$<6( MA@2[N:G(2'N*C)34$84701<@X;?W@8@:L!PIJ59D%,5KC1$-"39V4RUAOUJF MP9:1X"^\"!JCI8)@&LF(8D1#@EV0XF'@M>;J@RO!%HJ(L+IE2HE@1#*B&-&0 M8#')YX M6C5-/"2L"B^*<9>3&JCT@F[3!.UR3\:4K(MB1$."/=Y4,F0])4-&YE-X46>A M9$0P(AE1C&A(L`M2(@R+N\SE_,MQYT70#2L5F$8RHAC1D&`W9D8WQ)U5D[C+ MZ#-#YD30!26":20CBA'MB?N2+6F+/U#^85\W%0U93]&0D4>8PHN@+U8T,(UD M1#&B(P&E1M:=5FSLIJ(AZRL:2#(IO`@:8T4#TTA&%"/:$W\%99-%_H#^R"_= M@<8N25%Q.45EKBHP9Z6K7#-:AWL1=,F*"::1C"A&-"38!2DF!EX5KJ@P9Z9S MP_[O(W,BZ(82P322$<6(A@2[N:ELR'K*!O;5EQ?Y^%A,_)$.'PL8'^XIW??H M?`M&)".*$0T)=ME35MB,=B4"77V`(Y`^=62TB"@9$8Q(1A0C&A+D)B=EQ;`( M;'M=^\[!B[J=*!D1C$A&%",:$NR&%!#6S?6]R?L*"?(@5W@1=..Z=41$#3B8 M.7D"DU$4GED4(QH2;-"F>_!%UT"#KDA`P4>_DRQR)^KLE(P(1B0CBA$-"79C MTSYQ<_UKB-P5"Y>O/R^";ERWC@BFD8PH1C0DV`VI*`;N35]EP8*/UA%E3HF( M!`9?ESW;VU%&41=\="`--=@@J2P&&NRI,'):$MI=-W5CMSDE(X(1R8AB1$." MW9`*PKJQXLOW>.Y*@BO!1^N&TG?K_`E&)".*$0T)=M-320RX^5Q)@"Z&C`4? MK1O*G!(1"0P^4A_+*.J"CPZDH08;),7%P.#K*3+H8VZ1.U&W.24C@A')B&)$ M0X+=]!01`X+/U0=7@H\5$3DE@A')B&)$0X+0LZ@>\_8O6^ZKTYO55GM=LUH77_8=XCM?UY& M&M]O_GIG7S@BO$B69?N&%>$B69HW0+E>ITOSOI3AT]C!O*9\7+U5?ZY.;]M# M,]I5KV8*L\G"W%DG]Z*S^^5<']NW8E_JLWE!N?WKNWDAO3)O=LTF1OQ:U^?P MB_T'XBONS_\!``#__P,`4$L#!!0`!@`(````(0`$H/MGVP@``'0H```9```` M>&PO=V]R:W-H965TA@?ZOJRF4ZKW2$[I=6DN&1GNO)2E*>TIC_+UVEU M*;-TWPPZ':?V;+:D;LH7BC:OI^LI:7J\W^=D`7/[J,Q>'L9/UB9Q9N/IXWWC MH'_R[+U2_C^J#L5[6.;[W_)S1MZF?6([\%P47YAHO&>(!D]A=-#LP!_E:)^] MI&_'^L_B/A01Y) MOS6_[_F^/CR,[=GDSIJMG3O2\IQ5=9`SE>/1[JVJB]._7,@2JK@26RBA7Z'$ M64X6=S/'HCD_J\012NA7*EE,[-7"6BR9EBO3S\5(^A4C[[K9KXPCK8WM]"O& MVGH21M%DB_4OY3AJW% M./J]T3"+`I#'`XM$OM?73)OR<&JBTTOK]/&^+-Y'E/(4,-4E907$VC"E,BZY M4]M('0I4BE"FY8FI>1B3OR@&*\JNKX^VO;B??J6,V`F9+ M"7P3!"8(31"9(#9!HH`IN:7U#:7)_^$;IH;Y1EJUE4!QEN$(*2&'>";P31"8 M(#1!9(+8!(D"-$=0JFN.Z"]:,A:8],.8_E5B8:D;N.4RUKQUB@O$`^(#"8"$ M0"(@,9!$)9KI5*MN,)U)4R9145)L-_-`"-&4BM"=[B"W5ZC3I*V1IKMAC4RZ M6:,,KJT@RF8`\8#X0`(@(9`(2`PD48EF*)7Q&PQETKJA@M"/XOF5X?E62/K' M`^(#"8"$0"(@,9!$)9KM5%MOL)U)Z[8+HFPR$`^(#R0`$@*)@,1`$I5HAK*. M%T^D"3OIK]<=-E"WF9-YTYDU!XH+Q`/B`PF`A$`B(#&01"6:S=0`:#9?-Y1) MZX9RHNRM"3P3^"8(3!":(#)!;()$`9I]K+.XP$ M'#KCVYRW5L9QY'=2,ND#1"&B"%&,*!&('W>Z8UCOH4;[]9VW>*M"!XQD)KS^P'66_F(`D0AH@A1C"@1J,]FUF;<8#/O2C2;!>H,="U`GD#& MUG=G:%,1_$Y*NC1`%"**$,6($H'ZW,!Z#M4-O/5N"EU]R'=?M@5%+&UE3T@X MU&*+QEMT+FI$<*0Z1Y(N!S!1N(S#5%/W/K/`4:U`YRBI5Y+0DF1XIDC(=#/- M]1,X[@2DWJ352T1/(+-!^]$;F+9UDW-N:<]8G57]*,FP=9X8Y=!QI109]50WV"Q:,-5FCFRJ,>V>VO9:#UO7$E*4`JT4 MIEF/D+4R5/E2U;))QL5R;<1/(`7(\X-SA5+HVH*B/B%84"REQ()6*ULW/I$" M`PO2-X3U?C=LB&@5U0WA2-L/9Z8OR;6X$.7LH(N\5D:FH2^(LVIU-42=D+0PEDA?@Z-'5"*E MAM:@[P9KAM7=^*#4\MY9187XH^S19<#*!!2BO:P0\/:(]0> M(THZ5>1CS2_V;?<"C;A^+R"0GOU&$^$*H>[T]H#X@HA<7]S91C@%3&`XUT%A M!"36IUA:MI$UR=`4NL]NNTV@/37O$`52=ML52#VV$?F(`D0AH@A1C"C1D&XS MZ^C5_&'5S*&7'BS[/MT?LYIEW"P+9%0SH]UUI517J#Q$OD3\7*1W:L8A%$@! MM62834$HA;JY(D2Q1&(NFLPH3U)@8"[=NU0A->]>KTXV$S>RD"/:0%E%72'% M]G0P:SPAI%8G1$&G2FH/.S2L/4)5,:*D4P75B;7X:M1]X!FX^;F7O#&F86J!NBAS;4`>(A]1@"A$%"&*$24:TFUF[:YJ MEWLS;OG#5_"$3;WN:([1@W':XDV6 M:-4=VX@\1#ZB`%&(*$(4(V(?WS3'1[,N;C/_F(9_KG#*RM?,S8[':K0KWMB' M,A08C_LE"9[K)[;L-2[:^*S2$5/5=6=.5==\59R8_%C+F<>WY MAAW:J(W.;=+6=X6^/'JR>T9LZ8NDIA8:OC3?/-$SL4E;1<; M>M7:PY<;>@W9P\F'?2[T+&?CTP-:'$&/>C?L:2Y>H<>D=*7/'?0T<<,>#.(8 M>C9('NF[0KYW'I"GN?@%?H;1*MNL^7](*% MKO3-0Z\AZ$J?-GHM1/8T5Z;M'M,W7Y?T-?L]+5_SW5=`L'^KHOHS<[LPF=$2]%4&PO=V]R:W-H965TKA9 M8:0-*1-2R)+%^)5I?+?Y_&E]DNI)YXP9!`RECG%N3!6YKJ8Y$T0[LF(E?$FE M$L3`5&6NKA0C2;U(%*X_FRU<07B)&X9(7<,ATY13=B_I4;#2-"2*%<2`?IWS M2G=L@EY#)XAZ.E8W5(H**`Z\X.:U)L5(T.@Q*Z4BAP+._>*%A';<]>2,7G"J MI):I<8#.;82>G_G6O76!:;-..)S`VHX42V.\]:+]`KN;=>W/'\Y.>O".="Y/ M7Q1/OO&2@=F0)IN`@Y1/%OJ8V!`L=L]6/]0)^*%0PE)R+,Q/>?K*>)8;R/8< M#F3/%26O]TQ3,!1H'']NF:@L0``\D>"V,L`0\E*/)YZ8/,;!PIDO9X$'<'1@ MVCQP2XD1/6HCQ=\&Y+54#8G?DL#8DGBWSFH^#Q>K);!<6!FT*V'LM@_>MC]? MZ#;R:S?NB2&;M9(G!!4&`G5%;+UZ$9!U-C0,O3$?^0*&6)*M98GQ$B,XLH9< M/F]"?^T^@_^TA>S.(=X8L>\0-FV@KI<([OP'B9;%2K2IM)IW7>!-\T3ROD-, M!8%/4T$!%.#[I=-99!=!D0PL\OW)AKL&XX6]R/TP,C(E'&NXO+<%0X*AI#[. M3XL9"PPF*7H'-$CT2"!L-C3ILD`+K@7VV6DC`RN&D=%.B_%.MH2#E;VU[06Z MNHHMT5A%&X&A-\[WPXDI/:BODZ;K-/=,,)6Q/2L*C:@\VHZRA`O21_MFM_5M MUB?Q'33!NF5,XWX$U?D./HB@9,[CVS#:ULUTRC./]G5WF\87;?-U^P_0_"J2 ML>]$9;S4J&`I'&7FV#ZEFO;93(RLP$-H@=)`VZM?<_C+,;AR,P?`J92FFUC# M^O_FYA\```#__P,`4$L#!!0`!@`(````(0"O1NLOR@(``&P'```8````>&PO M=V]R:W-H965T&ULK%7;;MLP#'T?L'\0]%[?ZJ2)$:=(7'0K ML`+#L,NS(LNV4,LR)*5I_WZ4;[.=;&B!O5@631X='E+TYO9%E.B9*S1!WP(GB'HZUE=4BAH@#KSDYK4!Q4C0Z"&OI"*' M$O)^\4-">^QFV1,]S7KMK%Y"VFY1#!E9VI%@6XYT?)4OL M;C>-/C\Y.^G1.]*%/'U2//W"*P9B0YEL`0Y2/EG7A]2:(-@]B[YO"O!5H91E MY%B:;_+TF?&\,%#M!21D\XK2USNF*0@*,$ZPL$A4ED``GDAPVQD@"'EIUA-/ M31'C`$P'ILT]MU`8T:,V4OQJ/_H=1!L<=,&P=L'^PEDM%N%R=0,<_A%YW47" MVD5>AXX?>DL@>2'.;5DW(MP10[8;)4$&@OXZ9K8-O4CP.JS;T\>]/B;'*"# M!=E9E!C?8`09:RCA\S;P5QOW&72GG<_^W,>?>B2]ART7T!LX@CK_@:-%L1QM M"2WI?6\8D9X1ZCWFA$"H,:'+K=)K8YUC#,^1-NOI0?O6QP\'F,YIPC#PI@R32TZC$D\HPG%OE\;V93=LW>$# M#+N:Y.R1J)Q7&I4L@U0\Q\XGU8[+=F-D#1K"Z),&QEWS6L!?C<%5\QQPSJ0T M_<8*-OPGM[\!``#__P,`4$L#!!0`!@`(````(0#T8FDYPP8``$0<```8```` M>&PO=V]R:W-H965T&ULK)G;CJ,X$(;O5]IWB+B?$$,.-$HR MFH2S=J75:G;WFB8D01U"!/3TS-M/&=M@NY)T9[0W3>>C_-M5+ILR+#]_+T^C M;WG=%-5Y99#QQ!CEYZS:%>?#ROCG:_#),49-FYYWZ:DZYROC1]X8G]>__[9\ MJ^J7YICG[0@4SLW*.+;MQ37-)COF9=J,JTM^ACO[JB[3%G[6![.YU'FZZQJ5 M)].:3.9FF19G@RFX]4$##/JKS_MD%Z-\B?VND_T?-L7H+ MZV+W1W'.(=HP3W0&GJOJA9K&.XJ@L8E:!]T,_%6/=OD^?3VU?U=O45XWF0049`96S.JE%4G&`#\'94%30V(2/J]N[X5N_:X,BQG[,QF MT[FS`)GGO&F#@FH:H^RU::OR/V9%N!93L;@*7+D*<<:6,R.S.?1ZKZ7-6$5 MM+3'4VNV<,@[+:>\)5QY2_COSAAA')VG*B@QB??HRAIFW&2# M38AJL146-$^IJJ<#7P>!#D(=1#J(=9!(P(2H]*&!=/X_0D-E:&B$5QL!I%AI M@1`6HHFG`U\'@0Y"'40ZB'602$`)!*2N$HCKNXM(!6J],N#OD`K$4AW<,!LR M[8.R1<1#Q$(Z;"H/N$ZM82'!'C/XKB\#;@,]#C;$5N.S MO68T""DCA,X>&"&U[D8H4FO#B305B'B(^(@$B(2(1(C$B"0R41R%G?@!1ZFU MZB@G<)$"/]4"WQN)^'B(^(@$B(2(1(C$B"0R47R'C?4!WZFUZCLGTB0CXB'B M(Q(@$B(2(1(CDLA$<906IOAQ-*;%R/U=AS94?69DVA50W>-DBXB'B(](@$B( M2(1(C$@B$\5G>-(K/M]WE%JKCC(BS:T./!WX.@AT$.H@TD&L@T0"BG^TK%`< M9#5&-ZGML-A6L2'@*7W'5'!A&QE M!Y[,U8W`YTI@)7:"H!<7).S)[>ZB06@PLB;:H.+!2H@GO3@0-9ZT8,&+1-2+ M'Z_96.$#CRO1YX8P)$=4D&'T.*+,QH9%.FRM$T>/:&\EN@MX=]!0H!"C"*,8 MHX2C;NAJN&A9(X?K2IK!8://,U8%*5%AR&*G'EJ9;@E#]KP?N8>1CU&`48A1 MA%&,4:(@U6=:T#S@,Z]_AGG8$(8L\'.84S)3YW0KK.2UA-.#2\E&Q'E2I7PA M->].#[/%3#L=!,)`SC*]KU`8R7WI1M$U(S2@6%CQ`1%;UG7I+ MRVUH!X[WB:K/N-?;B'W&Y\1VV&'5F6K;54`-;@J&O>!MFZBW$9W&:JW`PIN<20E"4>0W5Y''V]E#'>]C M%&#U<$"WU2,L%6.4#%+@CAH76O3*\DA5DC&]T3[9>>@;4X,Y&)_H0$QGUXQA:H5YCM5=GKK\-3&[UJD077IW?C^[7 MZG+KY""5=)V,^F3A2,[&`0V.H0>),!I>Y_D8!0(-!6,XH-OJD3`:U&.,Z`<% M^L!C8V?Q8A\(V(O=,J\/^38_G9I15KW2E_^0ONMEC]F7B8WCPHD4)E7C6S)W MZ9Z.[\"V[M(=&M^!KQQ?ND35M#;P]:,+@V3BTA,?O@/'-Y<>SO`=CQ"X<\T].!Q`"*\Y M"*4^1.3:G2V90ION\*+Y")49M&''FOX6?,.YI(?\S[0^%.=F=,KW,,V3[D1= MLZ]`[$?+U\=SU<+'FVZI'.%K70Y'F,D8]OU]5;7B![AH]M__UC\!``#__P,` M4$L#!!0`!@`(````(0`9WG(BBAL``!6G```8````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`*S7X]/-&#=^K:Y6:&13&W*=A8M\H(<.#2N4WE M9&S[YX?5Q<6[XW_*<'2K8S[.Q/@16Q.AQAZ5;!1"'$(20AI"%D(>0A%"&4(5 M0AU"$T(;0A="'\+@P+%4SU1'TEG^/^I():/JR)3N1P.VTM9!A9@(J M9+DJ5+2,>#*X+XQ7.DBR=((N_0K;S@;9D<^[1LGN@&M4T;MK-$WAHQ:G<4`B M2`Q)("DD@^20`E)"*D@-:2`MI(/TD,$5K^#E67Q`P:MHO^"UR!].2[@*6L(4 M9.HK@L20!))",D@.*2`EI(+4D`;20CI(#QE<\>I"Y@@'U(6*]NM"B],)(!$D MAB20%))!1?L%K\5I\9`($D,22`K)(#FD M@)20"E)#&D@+Z2`]9'#%*WBUM/1*7BUN3B_5[H9>7;U^?:.2\JMEE[J0C'3V MJ;`Y"9X*-FIZ+)!B4D)*21DI)Q6DDE21:E)#:DD=J2<-'OE5I]9"[KIT>3ZG M-B+"ZM'D=!L392DBQ:2$E)(R4DXJ2"6I(M6DAM22.E)/&CSRZT(M@PZHBW'5 M))-KT^(_JGT?53U7$VU)$2DF):24E)%R4D$J216I)C6DEM21>M+@D5\7:@'D MUH4:TBY>7'JJS;.P?XQD^\+6!$EEV0'M+-@2B'34>JK*>/:\S6H:"/T;.&RA MIK;NP@O7Y%XY*#(GVJB8E)!24D;*206I)%6DFM206E)'ZDF#1WY=J`63VYA> M&&3U^LKMV)K9[EU,I)M^%LU15'E_T+''J/P,O-":] M3G$OW%VZ[/9_MVI+7%VYO9F(%),24DK*2#FI()6DBE23&E)+ZD@]:?#(KPNU M%CF@+O32Q:T+36['!D7J!X.P8X,21J6DC)23"E))JD@UJ2&UI([4DP:/_+I0 MRQ.W+E[9L?6JQJV3D6Q?V,J$ZC4=>XQR._;<>9O3^2?V.EQ%+7?L7;AT6>?" M#3E73HI(,2DAI:2,E),*4DFJ2#6I(;6DCM23!H^\QK0^;%FT"P_J0B^+G(YM MHBQ%I)B4D%)21LI)!:DD5:2:U)!:4D?J28-'?EVH1G8X5KBA8[--<1:DWOEH(A1,2DAI:2,E),*4DFJ M2#6I(;6DCM23!H_\QG38LFC-99$AVXNWI(@4DQ)22LI(.:D@E:2*5),:4DOJ M2#UI\,BO"[5<"3OVF>`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`B4DQ*2"DI(^6D@E22*E)- M:D@MJ2/UI,$CORYD'G#`L'6FPH.NHLEY^]Q$68I(,2DAI:2,E),*4DFJ2#6I M(;6DCM23!H_\N@@7@LM/^#,N``VY_4)'68H8%9,24DK*2#FI()6DBE23&E)+ MZD@]:?#(KXMP3:OF[NOSMS)Y/_#OWYYQN6O(?[K8M[?TTT6?>#&]SQG9$\T# M)R8EI)24D7)202I)%:DF-:26U)%ZTN"17W-JL?KZB9CZ]3`@F)204E)&RDD%J215I)K4D%I21^I)@T=^]1RVO#_C\MZ0[1=;4D2* M20DI)66DG%202E)%JDD-J25UI)XT>.371;B\WVT6G;_=R&#TPCR`*_VSD60* M;OK#EA218E)"2DD9*2<5I))4D6I20VI)':DG#1[YU7+8LOZ,RWI-;@\9@ZQ$ MB(DA"22%9)`<4D!*2`6I(0VDA720'C*XXA7]^6&K^%VX__`P9$MZ:\GN@9W; M'RQWCY-(!ZF?SYR-,ONNWBXJME&FDR6DE)21^+"I=8VREQ70VI)':DG#9KF*C+<.?BUBN2&POE(MM*VD]B"")M]I&/DES'U MB:/UR0IU.B8K`::@DBE=(^DD^W/*D%,P,.0VP*1;3.D:*2?9GU-E$YJ_I]H& MF'2;*5TC[23[<^IL0CJGX)YZ&V#2':9T1?PN'NYCC"WCX)7S.3^76A=BWI\)/47&)S>8]\%V3TR MMR9*^NP4%;;F:"YH=6E_?-9/7YWA.)2?!_MBB4E$HO;FE)J@I/BY;X8HK^=/4T2]`>2VY)&\ MP6:B_8TI.M=!]@-],2DQ9(>RU-+^U#,39%//284AFWII:7_JE0FRJ=>DQI!- MO;6T/_7.!-G4>])@:)>Z7]>'[4"=G8Y3W``'%^D0G*B&EI(R4DPI2 M2:I(-:DAM:2.U),&C_RZF-N!4F_XOO!0Y_;3^4C>`^,J?,]$!]GY4#2);7`8 M:V*3MF0QC?ZKJ^"7^41%.8>#1T@ZY61F&-DDSFGA*);/YXW'P6+>Y923R;N: M9"'O>C[O8)K>J*C]]]U..9F\NTFTF&%AHI8R+$V0S;`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`#.2-\!,9&^/`XP.LOLPL4Y=_H*]*:C$D-WE22WM M3STS03:IG%08LJF7EO:G7ID@FWI-:@S9U%M+^U/O3)!-O2<-AKA#=:'V_MSI MQPL/C7&KT/W&UBX%J68[2FQ)$2DF):24E)%R4D$J216I)C6DEM21>M+@D=_O M#MLMO.!NH2&II6G2O@XW]+>9X=TE54>##\:7*["BBZ`,6DA)22,E).*D@EJ2+5I(;4DCI23QH\\NM" MILV'U(4*#^I"D]]5@@W'[<449;L**&940DI)&2DG%:225)%J4D-J21VI)PT> M>=6S.6SK:A?N5X\AIZN0(E),2D@I*2/EI()4DBI236I(+:DC]:3!([\N#MMR MVG#+R9#]^TY;4D2*20DI)66DG%202E)%JDD-J25UI)XT>.371;C9LSS;VG!7 MQY#;+W24I8A1,2DAI:2,E),*4DFJ2#6I(;6DCM23!H_\NE#;$:^?^6[&W0MW MYFO(?X0$VX!;&S4]0D@Q*2&EI(R4DPI22:I(-:DAM:2.U),&C_SJD:7J(=6C MPH-'B";;+[8;4$2*20DI)66DG%202E)%JDD-J25UI)XT>.37A5I^NUW%V1!X M800;%^Y>KQG)_N3X/?Z MW$:9[(HI<1&_/-4:TVTZ8WD>_`[S1J]5[0\;'S6Y)3H&+9?H&..]P[P^"7ZP MCW7:$F5N,2&EI(R4DPI-NTOWBTNM^=SB>J&GZ26BO@L`-$-LC4>TQ* M2*FE_:EG-LBDGI,*C_R2\E98+[Y1=LD5EB;OUYAP'JEC%GO13`Q^(HE-9I?C M7R6Y"CI9HH[OK8IT)HNPNK*9&%Q&KH/DDT/J[V2<;<)_P*[8=QU^V7LK*BG[ M7WHP7'*AI'"!.S)W2]_M2R:1L:7V[X*#T:)D=R1\7*B_7<6Z2#G M9^&8E-BD3-].+>U//6-2.:FP24GJ?KFHE89;+K_6+E4J07&-9/_JWO9R%/O` MC2:Q-XC^%^L@^2KRKO^%/\`FZOA"XPLSS5Z3::Z#=*??G#G_],ON]9!B7ZY^ MX:KUPE+AONX'RLMQV>$N3C1YC7&,$MI?')$YS_X,%Y,20_9'OM32_M0S$V13 MSTF%(?[(=ZFF\&YY+4]?=N%!JQL7`5ZYC.1.7_2)#L6DA)22,E).*CSRVXBW M8GAY8.+2X'(D?_IR$KYJIZ.CJ&;*+CMC0 M"X6L,]SSN!]?VS-)V0PS4FYHG%ILKL+7#0L3L"$9%B4D)*21DI)Q4>^6U$S7W=-K(\ MG;H:I\I>6QC)FUJQ>!G/%8E^N?KD>-EF_&J?A7KGJR;I7L,'F]%:?Y[4N?9XS@S!1 MRS,($[53:KW)#.*OS&5&&.[\G*+UHUQW:+]H6F.$[)O4ZM9^GV`;^]FFA_ MZXETD#>7'<]S*+%)F2$OM;0_]8RIYZ3")A7.95S- MV6M_JQ-OT3!3SJ^;UX[IA`6MUPU.TS1QRU/;*'H.C4+/WU?7=UHN+#(M)F&\!VBK,FK1%Q4B`P*1"8%`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````#__P,`4$L#!!0` M!@`(````(0!LPH<<=@\``+%6```8````>&PO=V]R:W-H965T&ULK)S=;^.X%<7?"_1_,/R^8\O?#C*SF)C<=H$6*(I^/'L2)S$VB0/;L[/[ MW_=0(L5[>._8EKLOG>[O7M*7AQ2/I$BZ_?&WUY?>KYO]8;M[^]BO/@S[OYA^_;TL?_O?_WTPZ+?.QS7;P_KE]W;YF/_]\VA_^.G/__I]MMN_\OA>;,Y M]M##V^%C__EX?+\9#`[WSYO7]>'#[GWSALCC;O^Z/N(_]T^#P_M^LWZH&[V^ M#$;#X6SPNMZ^]9L>;O:7]+%[?-S>;]SN_NOKYNW8=++?O*R/J/_PO'T_I-Y> M[R_I[G6]_^7K^P_WN]=W=/%E^[(]_EYWVN^]WM_\_/2VVZ^_O&#CQ_0W:`I5(]Y.5@.T-.GVXXHAA9'=//SN-H=[2(IN/HRFH:?[ MW0L*P/_V7K=A;4"2]6_UO]^V#\?GC_WQ[,-T/AQ72.]]V1R./VU#E_W>_=?# MMAS6+`A_=U.`*J&W0<9!UCVA^P.KX]5,U&MX.?L6$WL><.R.',U8I(\Q>Z-:5P`LPP`#:46!"RE&$Q=%Q M%*&7,(KT^W<)Y&&-BI)31FKB2N`%H)*Q%&3)]CI.^H9D3`SI6W$I=TU.-6G+ M7RGB%/&24'T3KB\LC`DD/5UG:(25A+P3"R$FX9=%4BFLF927%)6*G[M1VLVJ0T0*>( MEX2*QR%\N90AF0N,1$BIB%/$2T+5!/$:E]R[:>/FY#,!48BE%3$*>(EH6HJ[.FEE*/I%5+6'7&I";&8TT+,G-6J MJ9$GQ",(>[]8#*<%Q:E(J6A"0E*-G$8XKVGZJAMR36%S%S6%8_TZ51N7P,:9 MQ+FK(F)59Z6J;59JZ'+#A#PA'D'8_\4(SJ@:W4*6*0VD=NU5I9#3R!/BF@SK M62S#:5W7'11FJ%9!1-ASQ!XZ+V5MLY*&+O653P\\(1Y"<(?+90W9Q3$5D5RL M"KE@M*%ASO*$N*:PZ8N:PF*]4M;04U%O1"SKHI2US4W0- M69,TDGA4*^0JA3PAJFED.-`4.VO'DZ*Z&UY["6$BQ2&]+-9>SFK7GD:>$-?? MR7]&VG\2$FM/(Z>1)\0U_5'^,]+^DQ"I.LYGX,VJR%E9U=B7V"@IBT?0R7]& MVG\2DJIJ_]%9GA#79/C/5:X^TO:3$*M:7,JM0?"%BX__8*S% M=IZ05%5YC=-9GA#7%'9U45.PG_'B&EX_.\H2XIC_,>\;:>Q+B;;*\4,]9::TYC3PA'D+P MB8NWR7%T%;%-)B1EC5D9.9WE"7%-AO=<9^EC[3X)L:SEA7K.RK)J]Z$L'D(G M]QEK]TDH:[C2R&GD"5%-$\-]JFIRS2WDNBMVH(38@4)V'7LZ6)=J&$>+V65Z$Y*^NJ78BR>`R=7&BB M72@AJ:MV(9WE"7%-A0M=?V8_T0Z5$"W727D9FK.RK+&O67M;Q5,6#Z&3:86_ M@Q5G]@E)6;5IZ2Q/B&LJ3.NTN4^T,24DS%TCIY$GQ#4%Q[C8A2;17X0+)21U MBED9.9WE"7%-A@M==U]SHETH(3JJ)^7U>L[*RT^[$&7Q$#JYT$2[4$)9PY5& M3B-/B&J:%BYT>OG5V6PT"2W;`W"ED=/($^*:"E<).\T,=9ZI3;M+N/#`$2SD MBB3\I21?F$V*.P@N9HW:(?G4#GNH:)DTT8RC4A*IY#369X0UU2XQO7& M-]6.DA`;7WE5F[.RK+$O87R4Q4/H9#)3;3()25EC5D9.9WE"7%-A,O^'K-J`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`(T^(R^QD+PMM+PEE458:.8T\(:XI[.7BL`W+ M\;J_&R^TY22$[1K=QI?1IN5]LYR598U]Y8L$3UD\A.`&8@BG'681O4/L/`E) M6;7#Z"Q/B&LJ'";(>L7%ZT);3T*L:7G3+&=E36-?4E.)N/ZP]5^N:30*J6E$ M4E.%W$(A3XAK*APF:'K5LZ`+;3X)L:KY1E/SA&W.RJK&OJ2J$M$(POGYY:K6 MV;QW)B14U:,E9[6J:N0)\0@Z.=)2.U)"4E7M M2#K+$^*:"D<*:_6JU^66VJP28E7+^RPY*ZL:^Q)KE;)X!)W,:JG-*B&I:LS* MR.DL3XAK*LSJ]$Z_U(:4D+C/HI'3R!/BFC`-\I@.,WW^^FP96A7'=H.R-JN4 MA+6(3J-]JO/VF"7.YU([3'=N-_O._99EX51G--6&5'>`H M1OWI@J:I<*:U1^!RGG-.)J/.C6?'7K=[)\VJ\W+RZ%WO_L:/M@4]N1/ MMRUOOB=UAYG"%Z4P73A@5*P:AJ]-U>=+.I:_1*5BPU'HL][*=&P<8F/S]X:3 M$*MG2[>;A5BMBH[-0ZQ^$5;'%B%67Q24L>7T)IS\&R-?HD.S1BL" M(7'N9D1P*A1JL'4B-6WU6!).+&VY6!#.!&UY6!#.!&TI& M9(X*\$Y;M#5@1SBI=XK`AZPZLQ5@2S@!=4K`AF`>]]6!',`FZ: M&)$QVN`%1RN"-G@\T8I`:[R]9T6@-=ZALR+0&J^F61%HC1?$C,@(;?`RM15! M&[S2;$3&T!HO"UL1:(U7=JT(M,;+L%8$6N.55",R0AM\ZL&*H`T^N&!%H#4^ M9&!%H#4^)V!%H#7>TK%@T!O\\N?D@8'[0_C>Z'OZZ?-W]?[I^W;H?>R><3IZ;!^[W+??'&T^8_C M[AVGK?AJZ.Z(+X76__<9GX;=X).5P_!)M+;Q_EWGEG=5/P:NF2L>\ZK,KYNJBV M2_>?OY]',]=IVJQ:9WM>L:7[R1KWV^K77Q9'7K\V.\9:!R)4S=+=M>UA[GE- MOF-EUHSY@54PL^%UF;7PM=YZS:%FV;I;5.X]ZON15V9%Y6*$>7U/#+[9%#E[ MXOE;R:H6@]1LG[7`O]D5AZ:/5N;WA"NS^O7M,,IY>8`0+\6^:#^[H*Y3YO,? MVXK7V]OU!)EG>Q^Z^#,*715[SAF_:,83SD.APS[$7>Q!IM5@7L`,ANU.S MS=+]3N9I0%UOM>@$^K=@QT;[[#0[?ORM+M9_%!4#M2%/(@,OG+\*Z(^U&(+% MWF#U!/VMGS3;9V[[]BQ]_9\5VUT*Z0]B1V-A\_?G$FAP4A3!C&HI(.=\# M`?CKE(4H#5`D^^C^'XMUNUNZ030.IWY``.Z\L*9]+D1(U\G?FI:7_R&(R%`8 MA,H@`;"7\W1,9R$)H]M1/&34;?`I:[/5HN9'!ZH&GMD<,E `Z1^YTAC]-> M+VT5]BB"?!=1NEBPBP;R\[Z*HX7W#I+F$I(@9.HZ)P@Q$6F/$)D`=B>*L'&; M8@`I/"]^ST@L,AE1:CXO.0,Q$>D0,9V<(`9'D.YQCF(1E((F23P]A>^$31`R MZ0I!*)UJ`P:!B4G@NC@"O'1A=Z="Z,`)L"A/'EC`(B3IAB!^H;:,LQO1%5:`- M'E=%+#+)$=^WV"%F@BWHVQW6S]H=)MY3E@G<[C"QR*9C/3!!#-(915.+;=I/ MVWSBK_`1BVP^=LLC1JN:?D!8UF@2*;Q10P3L1A?H>A%U:+-\H5"L1$F01D4? M,9]N>?2-IZ.-ZLU-M.9$6R$(TI_>CP@E(JVN3"K"$;5*N4$%_=.D$MI"($BG MTH$*JJB3"+"!^\G@JZI$Z$#'HC!QIY&$U4*V-A$GQ^1*549-9D]Y,1D:,74 M?@=(C&QJ:CEA*J>1^(B&OF)N$ON2%8MCCM56-H-$8I!@&*J42>4N63-YR)L[ MM-G@U#9GB9&&0\F`"MJSG`\N*679\XTJ'_KR9%!K+4J+?FKN:) MRK&90LNH;Q`[Y]"#8QF")#/B3ZWJ2XD.""87G<'R[!O4SIFU]>2$&.8<$HMZ M:LUK?6.(1A\R[PYM5AGQ53K0/B5(BA;Z@\.1"8C)16Z6M8OC]^TW+T6O!D,Z MG=^(;[>"!&F^JH^8"@G#UI_)(D<0\J/!D-\E6Z>6K=]93FC-9@:MTW72A5ZZ M>@9U1X_#2\5D.?J=E(;.3HA*A)1)=VXX%R@&Z.S4F(\FJD_-1#YD[?2A)J9@"B,5-.8W"Q?OVY>`?JY6?I6'242A-PBN#HR MS]&I,4_(+%`!3&K"?^_V5;A5&SJ%*F%L`0G"RX))'"A1I&H8!.=#.E4MA,SP MW@VOI4I6;UG*]OO&R?F;N%,C\&/V-(KW?0G<]W678]YI`J[;#MF6_<-[V7\3/TM-5 M[>I_````__\#`%!+`P04``8`"````"$`+O#>.@0&``#0&0``&0```'AL+W=O MT.`0)JHZ:I@[]U* M>]+I=#^>*2$)VA`BH-O=__YFL`/C<5K2/K3-U\_#Y_%X/N,^?/I1'9WO1=.6 M]6GC^K.YZQ2GO-Z6I_W&_>?OSW?WKM-VV6F;'>M3L7%_%JW[Z?'77QY>Z^9; M>RB*SH$(IW;C'KKNO/:\-C\45=;.ZG-Q@K_LZJ;*.OC8[+WVW!39MA]4';U@ M/H^]*BM/KHJP;FZ)4>]V95Z(.G^IBE.G@C3%,>M`?WLHS^TE6I7?$J[*FF\O MY[N\KLX0XKD\EMW//JCK5/GZR_Y4-]GS$>;]PU]D^25V_\$*7Y5Y4[?UKIM! M.$$M>>\\E8>1'I\V)8P`TR[TQ2[C?ODKV7HN][C0Y^@?\OBM26_.^VA?OVM M*;=?RU,!V89UPA5XKNMO2/VR10@&>];HS_T*_-DXVV*7O1R[O^K7WXMR?^A@ MN2.8$4YLO?TIBC:'C$*861!AI+P^@@#X[E0EE@9D)/O1_WPMM]UAXX;Q+%K. M0Q_HSG/1=I]+#.DZ^4O;U=5_BM3/:`@2Z"#P4P?QH]DBB);W'XD2ZBB+,4HP M"^XC/XH_H`54]Q."GQ_7XJGL],D669<]/C3UJP,5#/-OSQGN!W\-D2]95CD9 M\OY6VB'?&.0)HVSM`1ENHE>^/X6+YX'V']TPOLD0 M%P:N-SY9VE'#>3P,\F"6PU1A$>E4KQ?2949(QAE='I1<`")_,3RGUY(J"IUA M8#+$=!!I4\+%_1#&F!#4U>T30K(Q(0ZD"J#R0W\^/+F?HN"#)`$,;5#K5!O6 M50P]X/VDXR#8IZ1$PL7*5)`HSF)8F)0#@@.2`(9&J'>J\7UM2-ZXL#I#^881 MRTZB."NU`>;X98I/%6$4+^B(10P6PT9(,L+0'IO:,;_A9'YQ$)\#VV&)XHP2 MTPN`NYK7\^5OEUTB"6#(A=9`4WV;7!S$Y3(%B>(0N1P0')`$,#3BR8&UPNF2 MQ4%3):LX1",'!`;Q&^,B.S1XQFU'?0 M1).H:#5L1(3%D1I1N?9CL[>8^48#(9)OVVJ^LAU3NN7@BC0*3?6P$1$6(C6B MI-^MYCYMO:[40H2%2(J82M%0F-+I+H<'[\DVITECOE(+ M$18B*6(J12]A2F]H',J!C)S&;&43G]B4SBE'A,61&E$5W6CYHZ56@2 MV6X6(BQ$4L14RJSN-M\(KEB>M=TTB2JU+,_B2(VH6O"7T9O5&\"*\FI83C;? M?A0[8<3\A*%)5#D^#*IM>/\0%D=2Q,SQ%8.[H1J44\'W\=7#>BT*%&G4E5J( ML!!)$5,I,[3W6UAPQ:<`182&2(J92YE\W]JXK/A9QXPVX:Z4#/CC M\$9,$5/T%1.;/M\$UTR,GW8UB6XU;FO"XDB*&$I1%6^PTX70CYHR,4TB2BU$ M6(BDB*F4F=C[FPJNK^T78WY6U"2J4`U3+2E>0D=B8X0U!F_*AU:B%*N+;W47 M6Q7-ODB+X[%U\OH%+[4C>*D>T.'"_2E$VV%XZJ_A6M3&DV"=7..+8`W7>#9? M!G"AC[@W/`#NT\_9OO@C:_;EJ76.Q0ZDS6=HKHVZD5_ M'N`_)P5?P?``#__P,`4$L#!!0`!@`(````(0`[ M)KI.(@<``*X>```9````>&PO=V]R:W-H965TLW!?7X]KX^VOP96&,ZB:] M[M-S>F^;70Y3VS3G$TN:7$UJ,*R^HQ&>3@46>Z5V=LEOS94 MI,K/:0/CKT_%K>9JE^PST>GV[?0O15:5=7EHQB`WH0/%/C]-GB:@M%GM"_"`A'U4Y8>U\6PM M$]LV)IM5&Z!_BOR]EOX_JD_E>U@5^]^+:P[1AO=$WL!+6;X2TWA/$#2>H-9! M^P;^K$;[_)"^G9N_RO9Q!1D!G;+E'*RC,,`/X= M70J2&A"1]'O[?"_VS6EMV-/QU';G"POL1R]YW00%T31&V5O=E)=_J97%M*B* MS53@R52/R)W>IZPA/%G#V=A>N)8[(R[<:0B_ML[#DS6T MK;$U-3]J-V/MYET[=[QPW>EL,;_?(0;Y'C&;+;8QE(M=MR")#21]73@ZR#00:B#2`>Q#A() M3"`L76P@[_^/V!`9$AONU98#*5A:(+@%;^+IP-=!H(-0!Y$.8ATD$E`"`7-7 M"43_,L1S@5BO#?A7RH6%ZN"6VEC3+B@[1#Q$?$0"1$)$(D1B1!*9**[#ZO.` MZ\0:9A(L%Y+O^CQ@1M"E9/2D!FC7:R24E#%"=P^,D5BW8^3)M65$>AF(>(CX MB`2(A(A$B,2()#)1'(45^@%'B;7J*"/P$)&?FEKD.R,>'P\1'Y$`D1"1")$8 MD40FBN^PMC[@.[%6?6=$>LF(>(CXB`2(A(A$B,2()#)1'"4U+-Z1QF0/OK_N MD(:JSY1,VUJKW5!VB'B(^(@$B(2(1(C$B"0R47R&`D#Q^;ZCQ%IUE!+IW>K` MTX&O@T`'H0XB'<0Z2"2@^$%G^^;*.E#VQ8O,^M19$<44[$Z'%$J8T#DU0L MK::VZ_M,&ZQX=P%&(4811C%&"4/MT-5PD<)&#E=/FL&AHLLS6@,W)$L>)C%`@I[G\HT+!ZA*5B MC!(A!>IJ7$A=*B?F!W%A9:R<@12IRX*C+PO42&P^GJ43GQ$VX^<],QZ:#,8Y M1((1(K'61<]D'NA"C1DI<>68_5S1PPIE.904*9/9G>JA9$:B>O$LA'R.Z.29 M.8XF$W`#2.$[,47"$6\GNH\Y&NHKX08#?:G!);6T'-P/$I*6WI#@?-YL+8J4 MB=JA86<]UDZ9J+2=A`*L'@HTK!YA]1BC1$BAB4I*<#DN/Y=TM)!7PD51^]&; MGJ4LJ=IG=34GPD&T4_JL&9N_EN.:KIJZ`;&XDVR\$_XFHVX@HA7J-M:[G=O: M+I4,=:ODG?W12>9K>1LZR4@E9BNC;AP,R?DHD/!,WS<];B0^,/H8!1R);2D4 M:%@]XD9"/<8HX:A55^-%#@9R/MZ?IV2/U#94CL2FL,/(P\C'*,`HQ"C"*,8H M49#J,RGG99_;*FY!KFK8O<6G#VADC=?CP9"\!=E3;=W>\8:S;L'S,/(Q"C`* M,8HPBC$B5V3MZ-M!T!#1*R]Z!7')JV.^R\_G>I25;^0Z"TJUS:K#]*YM.U_" MQR*8[#I?+.@^WR>5^ M?N!V\+E=)[5>MC"P/OLM&59/#UMG"1^F<<_/4]#O;>`NX>,I;K"=+>'#(O!) M-R*X+;REQ_R/M#H6UWITS@\0?GK0J.A](SMUL.7LI6S@FK!=V4YP+YQ#76N. M(9\/9=GP/T@'W4WSYC\```#__P,`4$L#!!0`!@`(````(0`=YO>I$`0``*\. M```9````>&PO=V]R:W-H965TP%)[$6,,+.9O??=\88UC;<*+GJ2P@SPYGC,^/! MK+^^%WGPQFK)1;D)R6@1DV"*OZ'@QQ//*4/8GT4K!2-2`URZD"_O+,*]FB%>D]<`6M7R_5 MEU04%4"\\)RK#PT:!D6Z^G8J14U?U"SXR;_I95^"/.LC8D5YR]:>X_LKXZ:R@W`FL"!>VRCZ> MF$Q!48`931)$2D4.!.`W*#BV!BA"W_7URC-UWH33V2B9CZ<$PH,7)M4S1\@P M2"]2B>+?)H@8J`9D8D#@:D#FH\DB(GQ/#M`!07:(L@GG80`KE5##M^TD7JZC-]`] M-3'[?@QQ(PYM!)8+Z'4<097_@2.B($MP:+M$>HC?`)@5`^H2DTWG#+ MM!KA0]`W'S$SS29@ M3%9;M%$#6GBC#_MB#N_4R,R95BYDO11?6D>&CZD?[X:TVV%-\=@'!$[$E! MDL=?`1K'$\+,0E>(N2]$%]4)T9PYF^-6P>H3.[`\ET$J+GB>)$LX*'7FYK"[ M)S,X[[9K/!B_Q'A@-$=J#\H/" M@^Z#LH/J^GWIXR]7AR4N(.H<\+E0T1/[G=8G7LH@9T"C02CX4-!_S_!AR."P.L;Q=A1"M3>8H/O4W/X'``#__P,`4$L#!!0`!@`( M````(0"MQJ*K7@8``*X9```9````>&PO=V]R:W-H965TGI77O&Z*ZK)6C9FN*ODEJ_;%Y;A6__H1?%NJ M2M.FEWUZKB[Y6OV9-^KWS:^_K-ZJ^KDYY7FK@,*E6:NGMKVZFM9DI[Q,FUEU MS2_PFT-5EVD+/]9'K;G6>;KO&I5GS=3UN5:FQ46E"F[]$8WJ<"BRW*NRES*_ MM%2DSL]I"^-O3L6U86IE]A&Y,JV?7Z[?LJJ\@L13<2[:GYVHJI29&Q\O59T^ MG<'O=\-.,Z;=_8#DRR*KJZ8ZM#.0T^A`L<\/VH,&2IO5O@`/2-B5.C^LU4?# M38R%JFU678#^+O*W9O1_I3E5;V%=['\K+CE$&^:)S,!353T3TWA/$#364.N@ MFX$_:F6?']*7<_MG]1;EQ?'4PG0[X!%QS-W_]/(F@XB"S,QTB%)6G6$`\*]2 M%B0U("+I>_=]*_;M::U:\YFST"T#S)6GO&F#@DBJ2O;2M%7Y#S4R>BDJ8O8B M\+TA,M'0ZAO"MV]HSA:&_F`MH/.)=G;?#KZLPYEM.HME-^J)AB#;N0O?OJ&A MVJ:;55V] M*5!],'?--26U;+A$E:4(]79(FGLY`\E"5!Z)S%I=J`JD0P.)_KJQ='.EO4)R M9KW-%ML8HL6.69!,)+*>#'P9!#((91#)()9!,@(:A&6(#63L_Q$;(D-BP[S: M,L"#)85JQRQ8$T\&O@P"&80RB&00RR`9`2$04(%"(&ZO'RP7B#6L%*-<,*VE M.--;:F/80U!VB'B(^(@$B(2(1(C$B"1C(K@.BXC@.JD/TYD-*]"'*X0(09%! MPU&)6%)8J)$-Z\A@9-JZ:+0;C(;L0,1')$`D1"1")$8D&1,A4N`9BI3AS,AB M/9TOI&$7&>;/EI(YW9+(0K!#Q$/$1R1`)$0D0B1&)!D3P6=8^`6?IQTEUJ*C ME-@F+P-$/$1\1`)$0D0B1&)$DC$1'(6577"4;A/=Y+:G(GO>5I"PL([>"(`% MVP'=)(B(Z#\ESLC_@?`*E@\< MO16L1-Q*]L2[960L'Z3"8QTNNV.@8RRDZ0B8S'C2Y+Y"9C0UH.B6$1I0+`W( M6DI+1<)D[@Q(G!!R6!S7[Y=60H,>.>$TP))BVR,AE6VI0G?,:#*5N1$3]QDB M"\OK!F[ATIDB8`:P`0Q9@N>$CMJ9ZCUB2OQH%S-TK_>$&=SI79P`;\FQQ,/,4H8 MHO?^\67%@.S]3%R(N;124"2M%-(1==?ULU9'9Q8/([]'#ET$%C<6`=J9#9^) MA.N-^/D@PGW%4E\WZGNZ+S&](+F%,'ZMOHF*%%V*A/IV;''MW,&%B+2#"F.E MZV'D,T3K:6Y9DDS`#.[44Y?S(3/B?448Q0S=ZRMA!G?Z$H-+#M*?J%UZ[A9J MMS^*\^K:D2L5Q.P_:KC M_F.Y_X4I;6()T[G3OYB*Y(`^3D4YY#^J*\3RYHUF=#Z'UUL4L3:!U_[(8KZ6S)J_D- M^ZWIP@L6UME:+KSO8/YHNX_@,/[%UG;AF>,&=UQX"@"N#2."U_)K>LQ_3^MC M<6F4JA7?R+K%.\'>1'`X1\,2L*H>J:MD/I(/A M+RV;?P$``/__`P!02P,$%``&``@````A`-R]FA;'!P``;R(``!D```!X;"]W M;W)K&ULK)I;CZLV$(#?*_4_1+R?$"#)$I3D:!/N M:J6J.FV?64(2M$F(@+V(!=?O\\GT;O65GE MQ66E&>.)-LHN:;'++X>5]MR24W')5MK/K-*^KW_]9?E1E*_5 M,K])B=DVI<7+,+W-D7Y3FIX<_RH%?7,DMVS:#S23H^Z%2E,G+"?S^-*9)RG4W?R#UYSPMBZK8UV-0 MI].)8I\7^D('3>OE+@ M@4?$,6?WT\VJ%"(*:L;FC&A*BQ-,`'Z.SCE)#8A(\KG23#"<[^KC2K/FX]G3 MQ#)`?/225;6?$Y7:*'VKZN+\#Q4RF"JJQ&)*X,J4&&-[-IO.[:?[E4R9$K@R M)3"G.R<`5AHOX,K&SL>F/3-F\P>\F#,E<.43&!O3R2,JGI@*N'X]$+`U&V?@ MRN=Q=R`6;"QU];D\E2?X"IP%=!H()0!9$*8@'H$)8V-I#H_T=LB!H2&^[5AH,N6*82""[! MA[@J\%3@JR!00:B"2`6Q`*1`0`&1`M%?Q7@N$&FH5T(NF.9<=G!#98RF`C=+ MO47$1<1#Q$;9;@B./3WQ@4B<'AI$MYM"W8*(NH?E^;$P,%BBH!`6[)1Y:"E@Q;"I&E MJ;PD42?`+<6M7B#2KC%(CX2CR)_#[F^8::\EQ9$B,8Z<#'OG-A."=@L.)J&^ M*$7(ZZ2XBSY&`48A1A%&,4/-U.5PD<9*#%=/5S5O-F,L_E"R1^?"XA9IMH*N-"M"85]0FA"$9=B$[)M MY0DIY@(#$Y(7!(0>61`BKAP`%$GK82G/MUO2]L,X"/B-Y>`R?!MZ;)1E-Z&? M+BS%4Y\(#"H,[C`:MC+<:*08-29*/Q(/&97C2CI),=&_=J+0?A0L\NEM#(KD M_+>4YZ@ME[J5;FXGQ+5['(D+9>*PLSF(T3<6RN($7->M.82=$)]#Q)$\!TO> MX3&7&IJ#O!JD[157XS]*+>V2I;!3))7:%@WGH&M0(:M[PO$P\AD2M`<=&M8> M8E411G&G"F(LQX5TP`_$A37,8CI2).]^I8G8&E2H.[U=1#Q&V%Z?/9E*.OE$ MX,9>5TV$R$0DFY@;IK)KXB$3E?(P" MC$*,(HQB"4D^F^IC`JEFUJ1YY+^_/VZTR(<'0THU4]K=+9?JVET7(X\C>B[" M1QWE$/*Y@%@RT$'-A3I;(4811\P6&%/*$Q<8L"5'EW3S]V<4Y(UZ!C,D9E2' MAG>-RX3$ZH21WZGB-3KHT+#V$*N*,(H[56IU(EGQ2%R(N))>%($)/O-MHY1\ M,FJ1BY&'D8]1@%&(4811+"$Y%^"TE'S^VDXC6I104"06ZJGZ8I6TRTV7QJ/E MMJ1;9M20>DR(E6X+E^Z;;7C0VN!6PY;HF@]9E>--G@'$O:?V:3^* M*P2R]\E?>#B#[Z4HX!1)N=>BSC&U`+E,E=E]%/$P\CGJ,COHT+#VD`MUVB., MR.=?X@Z=.XT7_9Q+OX^=L_*0;;/3J1JEQ1OY5`NQ7B];3+\CPU9SR*Z!957N MP,:!3\Q]=^#;\W,?W\`WZ<951=.&*.JQL+$<^&Z!+3]/07_3AZB*I@Z\V<<# M-C,'7H3W\+D#+XLQ=PW#\>`-";X#[UH<\CH%WX'W%'"GSPUXG'?(DSD>`P_G M$)&^.]!+P)A%[Y@%C.F[L[&=#;P=PV:VMK/MO>':#KQ0Q0/GMOXJL_P4``/__`P!02P,$%``&``@````A M`-/!@C/.`@``>0<``!D```!X;"]W;W)K&ULK%5= M;YLP%'V?M/]@^;U\!9(4A50)5;=*FS1-^WAVC`&K@)'M-.V_WS5?!9)5F;07 MC"_'Q\?G7E\V=R]E@9Z95%Q4$78M!R-649'P*HOPSQ\/-VN,E"950@I1L0B_ M,H7OMA\_;$Y"/JF<,8V`H5(1SK6N0]M6-&`%UZ\-*48E#1^S2DAR*.#<+ZY/:,_=3,[H2TZE4"+5%M#9K=#S M,]_:MS8P;3<)AQ,8VY%D:81W;A@OL;W=-/[\XNRD1N](Y>+T2?+D"Z\8F`UI M,@DX"/%DH(^)"<%B^VSU0Y.`;Q(E+"7'0G\7I\^,9[F&;`=P('.N,'F]9XJ" MH4!C>8%AHJ(``?!$)3>5`8:0EV8\\43G$5XXEN\%J[4+>'1@2C]PPXD1/2HM MRM\MRNVX6A:O8X&Q8W'7ULIU;A:;?Z&SON MB2;;C10G!"4&`E5-3,&Z(;#U/K1[#\[\S1APQ)#L#$N$5QC!D14D\WGK^<'& M?H8,T`ZS/\>X4T3<(TSB0-Z@$>SY#QH-B]%HDFE$[_O`2/1,4(^8"P*CQH(N M%TWOC0%#>4R\64XWVK<8UQ_$Q>/(Q`S_7_8V8,@L%-,[B>E`4X6KJ<+X(N@M MQ1.)L-WU]AAP(W'(2Q<9F3&.3'9:3GNY2^OM#EQ=P89I*J.+P##R;CVS M90`-)=*VG/:.E4QF+&9%H1`51]-.5G`YANC0Z7:>2?PLOH<.V+2+>=P+XXOX M10A5<\ZS\\-=TTGG/$$8-ZUM'E]VG=<>/D#GJTG&OA*9\4JA@J5P%*>Q6;:] MLYUH48.'T/Z$AI;7O.;PBV-PVQP+DI@*H?N),6SX:6[_````__\#`%!+`P04 M``8`"````"$`Z2H6V;L%```5%@``&0```'AL+W=O]279?EE_+=G/!YLK[^_%1?MA9153J\;W9Q,=8U<,WK(KZ>-_M>/ MX-M2UZHZO1[2"[V2C?Y.*OW[]M=?UJ^T?*K.A-0:*%RKC7ZNZYMK&%5V)D5: M3>B-7.&7(RV+M(;7\F14MY*DAZ91<3&LZ71N%&E^U;F"6WY&@QZ/>48\FCT7 MY%ISD9)*S(U/5UJF MCQ?P^\VTTTQH-R](OLBSDE;T6$]`SN`#Q3ZOC)4!2MOU(0/5!E$%&0FEL.4,GJ!`R15'>1,4M>RYZJFQ3_SIG&2+M9VPZ>HMUDZ3CV?+D8;VBW#>$I1OVYAB#;N`O/MJ$Y_MM5JN MC1?(SJRUV6$;4[;8"PN6BDS64X&O@D`%H0HB%<0J2`;`@+!TL8&4_3]BPV18 M;(17.P$&P5("(2Q$$T\%O@H"%80JB%00JR`9`"D0L`:E0-PO("(7F#64BF$N MF);LX([;\.+73/4>$0\1'Y$`D1"1")$8D61()->ABGS!=68-*PDJR&`=K!3? MN9$-Y:(W,FW9:-\9=2F`B(](@$B(2(1(C$@R)%(XP#,I'+Q<3%A)'D\*UK") MC/!GQ\F9M>PH)[;5%8`] M(AXB/B(!(B$B$2(Q(LF02(Y"^98<'4QN?=?`B8B^\^) M,_"_(_T*!(B$B$2(Q(@DG/!!2]&`_A10ZD?>>Z92IK6(VNA=Y(J/L"K9H96$S1!/`!.:.I+T3&.H]Z(]%Y+!#O?&8JG2?B M]P\ZE^//-K+#^(_77Y/O>Z5`_G%O*ZDJ$S`?=RXD( MJV`TX#_H#2+Y7YMG.">AB',D)6B'>O_4^NBU4O,^+CY&@4##!/V$>B3:]>HQ M1NS.B[G#Q\[CQ>^P^,U$0= M[<(YZPYW7#B+`#>Z$<&EW"T]D=_3\I1?*^U"CA"4:7/J*OFU'G^IVVQZI#5< MQS6)=8;K5P)E:#J!\\V1TEJ\L`ZZ"]WMOP```/__`P!02P,$%``&``@````A M`"C^]WH`"@``:#```!D```!X;"]W;W)K&ULK%O; M;N/($7T/D'\0]+Z2FA?=8'LADCW)`AL@"+*;9XU$V\)(HB'*XYF_3S7[6E5M MTV+RLAJ?KBK5J:[NTVIR[W[]<3J.OM>7]M"<[\=B,AN/ZO.NV1_.3_?C/_[] MY9?E>-1>M^?]]MB7]73: M[I[KT[:=-"_U&48>F\MI>X4_+T_3]N52;_>=T^DX36:S^?2T/9S'.L+Z\ID8 MS>/C85=7S>[U5)^O.LBE/FZOD'_[?'AI;;33[C/A3MO+M]>77W;-Z05"?#T< M#]>?7=#QZ+1;__9T;B[;KT?@_4-DVYV-W?W!PI\.NTO3-H_7"82;ZD0YY]5T M-85(#W?[`S!091]=ZL?[\4:L99Z-IP]W78'^/-1O;?#O4?OZ>-U<5-OK]N'NTKR-H,&A/.W+ M5BT7L8;`:A)2F$I-W$W+>[,"TZ&";%24^_%B/`+W%EKI^T.R2.^FWV'Z=\:F MX#8"6Y360LVU"EM10`;`%`@X%C!]E(5JI1M9J"B*A?W^P@(!+9*RM;`N%05D M`*"4H6_"E.-=;^NKC&%B@OJ*A%2OT#:B6[%=^4J&5`R1(8+R@_X,\^M6YPS( MW%A3%>9^#'Y!9V2XB(6VR7#[Y-BH=$:NU`R1(8+(0"\P,B*;^*7ZZ4Y7D2B? M.4ZUT#:$SP(;E<[(\6&(#!'$9\[YS-,A=%0@2F>),RVT#:&SPD:E,W)T&")# M!-&!F:?3DR[5KG]KMZE`E`Y.M-`FF,URAHU*9^38,$2&"&*C#BAT2QW$1@4B M;)9TU6L;0BBO'B4,209B5DD72<<.V M`Z$%%DC93`H#9=`?CJ=(&07M"%;6L?*.%I((PA243!(*`[I,:+5%DY(D1$H* M8T5FA5B5WLKF7W%((@A34M(:4/I8X841XK#R&DKGKJ:EL0J@BD,203@GI9!! M3DK5AY19"RUJ$Z.]89LD2Z*,)9Q.U#:`VH1!$EGA_)4BDOR'*85J$<@$=TI& M>J`P5J13J)1[*]\I.CPX6D@B*\Q*"2-A)9+%!&+*0Q)!F()20TIAL1Q"0>NJJI;;;Y(ER;<03GU#*[+]EM[*LW*.%I+( M"K-2HDA8#5DN6EO1K&@(STI&CR'"6=ED*PY)!.'\E1"2_(?*G=94/"TKDG`A MG/(&T[(B9Y;26WE:SM%"$EDA6@E1\8]WULZZ6^DV=&&@;.662%,]%0%JY"`_6L0F,5KD(#P8=; M%\G*_[3!)(B6]F3N]-).8Y%HJ&\5.BOK6'E'"TD$X30CXCCL5T?"]=%`I(7) M*:#T5C;?BD,209A"1!\'KD(GCS:3(C&2!N3P7-Q2HU'!GF:AGL(:Q["P!D*. MN3_K81)@=4.;*FO2IAI"A650E3)((@CGI)0E$+#@&-%36"U)H9:E1J7"PAH( M4@K6OS]YZ4<NAJKL*XQQ_P=$4Z)NO74E2M8%P"=6TH.51R2 M",)UCNQBJL:\PQ]X=^Q"&[2:\Z:[P1&*CG<..M MG*QR2"((ITDD;.!%6<:US4#X9)/3WQ?>RN>O8X6_+Y`5SI\(V=#\N<+!4NQV M`G2LR>F/"V_E\W>.%I+("N>OQ"78UH*]^<8KL4S+5+CE&8A,`;W5\U8VWXI# M$D&8@M*B_P\%%8FL`@T1"O1\K/9(]=LIN)7GD$00IJ"4B%`P/Z=NG06M:6@6 MC,SA1J+GX\Q9^5E@D$16F((2+D+A4_0K.T4(266$*2LN"2@_=-[4DHN8Q*@G9N`D7S+GNMD%@*=M M'U^->BM;\XI#$D&XP!'=''CCGW/A-)!:/J[4R8J>7;R5YZ!C@:.%)++"')1J MD34X[%8&7E]D#>0DT5,0V]&N M>55O,D+'/=PY6+]F6>0)O&?920H;26$D525C(YE]-Y..9#`":A3QR7(8Z=J? M^2Q@I'M2R4:6,-)-&AM9P4AW)TM'\AGDUHD#'4GG:ZGOF=@(?`_\[HEE#='@ MF!X;@?=3X0`<&X&*ZAV"?D\&%8436\0G@1K`76=L!'*#*\38"-0`;N8B(RED M#?=CL1'(#>YZ8B,PP$,^/@*/0=?J\65L!+*.^FS$:KW1[_72 MZL"(>NH6B98`'WCV%1L!/O"D)C8"M88'(+$18`K/%6(CT*-PN\]'-B*!&D1] M8$2]A<%]"@$9P+L0L1'((!IM(W+XGNZ-"U8=R$T+.AN!OH[[P$`T%DQ;=-9@ MTJ+S#!,3FY>-F$&VT34`(^J-H1AW6#=1'WCA>Q.O(SC$(JFIC^%0]FC5U=84 MLX?"=G,^=86%][Q?MD_U/[:7I\.Y'1WK1]@]9]T+CA?]IKC^X]J\P)D%WO9N MKO"&=_?/9WBCOX:7AV?J7N2Q::[V#RC%U/T_`@__!0``__\#`%!+`P04``8` M"````"$`]X<-1LP"``"1!P``&0```'AL+W=O4O3FYDE4Z)$IS66=8-_Q,&(UE1FOBP1__W9WM<9(&U)G MI)(U2_`ST_AF^_[=YB35@RX9,P@0:IW@TI@F=EU-2R:(=F3#:OB22R6(@:TJ M7-TH1K(V2%1NX'F1*PBO<8<0J[=@R#SGE-U*>A2L-AV(8A4QP%^7O-$#FJ!O M@1-$/1R;*RI%`Q`'7G'SW()B)&A\7]12D4,%>3_Y2T('['9S`2\X55++W#@` MYW9$+W.^=J]=0-IN,@X96-F18GF"=WZ<1MC=;EI]?G!VTF?O2)?R]$'Q[!.O M&8@-9;(%.$CY8%WO,VN"8/%,I:38V6^RM-'QHO20+5#2,CF%6?/ MMTQ3$!1@G""T2%160`">2'#;&2`(>6K7$\],F>!%Y(0K;^&#.SHP;>ZXA<2( M'K61XF?GY/=0'4C0@\#:@ZR=8!WZ861!7@E<](&P_O7I;I=)*\PM,62[4?*$ MH-F`JVZ(;5T_!N!!D8[&J-&?)`)M+,C.HB1XA1%DKZ&LC]L@7&_<1Z@%[7WV MES[^U",=/&P)@=[($93Z#QPMBN5HRVI)[P?#&>D9H<%C3@B$FA-:0#.^W$:# M1C8(&F:BT?7TP'WGXR]'DNFY92+*\E\XV""H-/39*X7JG29,(V_*-'W)Z:SD M$ZIPW+E0./3F/#=*.HNW&"J8*EK*HTHO)HQ\P*KLIH'2?@+K#EG]GW,!G;.3*W!W'Z MHO\BAMZYQ-DMXUT[8>V*R^OF2I]\P+F8A\[;/!T/=X'HM]DA_7 M_C]_/WR9^YXLHWP?I2+G:_^52__KYM=?5E=1/,D3YZ4'A%RN_5-9GI=!(.,3 MSR(Y$&>>PW,011:5>"R.@3P7/-JK05D:A,/A-,BB)/-Y68$4/(U*\)>GY"P;M"S^#%P6%4^7\Y=89&=`/"9I4KXJ4-_+XN6W8RZ* MZ#'%NE_8.(H;;/70@<^2N!!2',H!X(**:'?-BV`1`&FSVB=8`&?K!9*8%^)/PJM=^>/(GK;T6R_R/).=1&GB@#CT(\4>BW/9DP..B,?E`9 M^+/P]OP07=+R+W']G2?'4XET3[`B6MAR_WK/90Q%`3,()X04BQ0$\.EE"94& M%(E>U/GM1_.!I/9<,00[CUR63XD!.E[\466(OM9!;$:J@():Q!\UR!L M?`-Y9^"H'HCO>N`(&-T!0<5:B7`?E=%F58BKA\H"+WF.J$[9$B#-ZBN$5H^W MY(`.!')'*&M_YGM8J40.GS?A-%P%S]`]KF.VW1AF1NR:"$H7Z+4-@:-M$6HB;`)02B=D+M4&FTH>.WC4]-F9$ZTK6+8N"6WTRV&&.,^ MWR(4;$Y>6S0)=(LA`4/+MS7X+T6@<$P6 MCH'4M3M3R>@=T35P'=,-YFS4;O29J/&,(&6/3<% M=+<+LS&9.BQL'>J!#AVHEVG,/M"A[GRZ#K5)VQK4WVG_.$H"-/79U.M]K$XR MO;4@**LZ:Y.AQ6QH:]%&=6JB5Y]DW4;9F'0MWFR5S.J5'RC?;8@*``K,VUVQ M,TQF!?9J@*S;`1N3OK8W>V#HZ(%L@NW1L^`5CIGDQF0FV3ZZW:+L)(>]>J"* MM@AT>V`3U2UXW!0Z!3]?T,F]MQ3='JC`0S M@&?A0@N'8*#N3O:8D*YDZ@)C>QC&X'7HXH8Q>'6Y/%@IWBXNSPB>D=,SAD=E MO\-@`H]JEY8']\@[]RP8X)J#$N"R@Y2+T]T8^,X!8.0BM$4>G6E$%IU)1`Z= M*40&50*#=L6XGYZC(_\>%<"XW8TI&/#08BR>4!^@O:_C]\[/=\_WA8?_\_>;\?_Z5 M_6-T?G9\NWM^N'L\/.]NSO_>'<__^?F__^O3K\/K'\YE<7A[O?^R>[HX7AY?=,UWY=GA]NGNC_[Y^OSR^O.[N'NI&3X^7<:]W=?ET MMW\^UQHFKZ?H.'S[MK_?)8?[GT^[YS>MY'7W>/=&_3_^V+\<6=O3_2GJGNY> M__CY\H_[P],+J?BZ?]R__5TK/3][NI^4WY\/KW=?'VG7XXO2=/G3P][&H%R^]GK[MO-^9=HLAWVSR\_?ZH= M]+_[W:^C]_O9\S MA]VWNY^/;]O#KV*W__[CC:9[2"-2`YL\_)WLCO?D45)S$0^5IOO#(W6`_CU[ MVJO0((_<_75S'I/A_6T:TD_;\(0ATFU6]Y1^VF8G=71L&M)/TW!\ MBDLC"J#:H/K%6CQIA!&'@OK%-CUAC!'%CK;I@BB^B$?#:/A>!$0<.>H78_/Z MQ*8=-E(.H,A%T+6[T3J"/>(84K]8 MHUU3>JGO\3IE)'=O=Y\_O1Y^G5$>IHD]OMRIK!Y-E#9.%MJZ31]MV8/2AM+R M1:FY.:=Q4&(X4LK[\W,\OOIT^2>EJ7LC5[1+6BM=2[1Z*KZ]#AMUJ&\A=[?`HD`9("R8#D0`H@)9`*R`S(',@"R!+( M"L@:R`;(UB?!E%#&#Z:D>RJ4-&4\RO5>OI)S880HKUNA:-0/)VQJA7C"$B`I MD`Q(#J0`4@*I@,R`S($L@"R!K("L@6R`;'T23`]Y^@/3HZ3KZ6&GWAKBW1=` M$B`ID`Q(#J0`4@*I@,R`S($L@"R!K("L@6R`;'T2.)ZB-W"\7M\O5$W[$N02)!*D$F02U!(4$I023"38"[!0H*E!"L)UA)L)-AZ M(/`SE:\?\+.2#OULB.=H2]P2,!3+1*)E^E2\>N0[/3`ED!60/9`-EJHCL=3"'M;8,I]-+5 MVX_]_1^W!W(RN;KA%NK3MD-O1I22<&8-\6862*))GVH^;QZ'8AZM$+LD`Y(# M*8"40"I-_'D$,K>M.KJXL$+?-(&_> M+'$ND,&=&)G^0&]$>Y&<12?`/LJL7B:Y)>V6"J>HWO+V(G'?ETZ`]596+Y.9 M)>V6YDZ1L23&M'`"K'=I]3)96=)N:>T4-8]IXP18[];J)1+FBIUMWM:J;\[]V-!"5(3:.QAC0\OTJ?ZQ0M%(Y/34Z"8I-I+Y"A<)*>F84S"]AZ3T9PT"46C M<:@J92F=RH=Q>#GCR_[=+"WE+-35G:))"+I3LM15O;*,KGKB.*!B@:X.S5BH MJT/S)B'HT(*E=(?&U_)`:5(V$:GYIVKAY*+'$!![DF-4(Q[2;M M.A.-Q4.E3$EYE\42DEM+7"X5EGC-9!8KFVW#V8ML>VY)1VV%\VVQ=9C MJ:3:Q[VREMCVVA*OF1SWIMFVV(QL6VV'4:8.;7\Z;8,&0L18G$2F$A8KKE#!:N'?>A9-1IL&*I M+H,S%G(&YX@6C&AELWV/QJ*H6[*4;S`:B[MIQ5+.XIJ1\^F&4><0MRSE6_1\ M&H:2.E'R0^F=Q<,<0+D^W:J'WQ1&P>)AD7.,UP'SB%H+47+D&4R-*@]EJ#UW MJ%U[@:I*1)53Q7V8.=2N?8ZJ%HB63A5K7SG4KGV-JC:(MDX5:0_G5)TW?6!. ME;@H"#0*%Q^QQ9A&6LA??"1)C,.@TN6:K+X(J%G,$U(V=PPZC3X):E6@R&D23/);O7"UH59&XQR%\O''(W M#:P71LA;'%)$F5/%.3=WJ%U[@:I*1)53Q=IG#K5KGZ.J!:*E4\7:5PZU:U^C MJ@VBK5,EUPMU]P;KA3KUZO<^6$[66D1V4(KK]V%M+HQ[(KM/33MO&;'$C1GW M,$;HG95%25G;4'7EUA([O+#$:R9K^;+9MEQLNFW/K"6V/;>DP_:BR3:N/]VV M5]82VUY;TF%[TV0;EZ16VV$BH3,S"+IHZ(+NM!,J=58JBA>#*-YY=%.'W/`P MP6A5L3N'2;F=0QDCISUWJ%U[P4).58FH8N2TSQQJUSYG(:=]@6C)R&E?.=2N M?2RQ!11@BA%E"'*$16(2D05 MHAFB.:(%HB6B%:(UH@VB;8#"N:!5_B-SH<1%5C?(/R:)>Z(PG=(IP*% M*$64(@_Q;!5`2 M`TH198AR1`6B$E&%:(9HCFB!:(EHA6B-:(-H&Z!P+IJ.V]E1.$5.*.Z)`X'22;'R MRBHG$OA3/8EI\.>'WZJI]80>-Y, MKUY[E&/6J$\)WVX]8[$YG)IVJF:V0A@=6A,)\;RGKAVC#%'N4+OVP@FQJA)1 M%:#04VJ_9//P^W_%H[=7?AY6B82<1Z.T/HAE'6ED.O-2@PP>&+"QD7ZY43ZG MR=1UVPTY%7F#"2E3-,A`-THCU-?=&%Q?BZ/CJJT?H>^#'17Y_K<6!GK1$X)7 MHV`/'XN4.S7MW@E>H\D/7H/T2TG16#QYS5@O;1TZ9L+J;1_&I0^TC2XP0Y6R^:U-$F5/% M4KE#[=H+5%4BJIPJTA[Z16TK?+_\7ER:S8GO+HUB.^HI+2#*@6[!32QQ`X3[ M+S5"5'*IMW0'\D%LIJYW!)\T6IQBM#1"YJ:_'EQ#[+58#9T;[$<:;OK3CLS4 MPB27+(V"8+2HW1V)446U.H=9BBACY$(]=ZA=>\%"3GN)J&*$QT[D[C`8WUG* M=<4?+%`:!7[1B&:4AYS4=H*WH%)$&:(<48&H1%0%*(R18,?P_J*,6X.^*?)I M_NU]$/?DPU\CY94F":(4488H1U0@*A%5`0K<0-OLCTQ]+1[6\P8%M4DDUNJI M$?)RD"+6;9A]3`/5<2BP?@%P<]:!OE9RZ'VP29&R"\M M$&5.%2?`W*%V[06J*A%53I4L+09RN_%;I46M1=SIO`OA\4R-D'];^YN#AMM: MJWCOMO:58*AI'+_]1(47PV=DR_'L9";O%/$66,G/;N-@IM4([^TJ.V$I06B#%&.J$!4(JH"%,:(JGT_,&9= M*@=CUDA5;#8B!V(3.!UH(;^R0)0BRA#EB`I$):(J0*$75%W\`2_H,CKP@D9^ M93&0IQX#+>.206*)BEJQ M4@)-5D._?JQ8'V"Q;E!000S$X?24A=SJG3#R*PA3][]301@INFV;AJ=?16/M MSF"!J&2D3T8&$;BPVU3H257`?R!"E;A8$34*(E2$TG2@9?P(E20U,B85>0:Y])Y6TM9;0C0:%`2EF=LI"+CX2 M1"DC&(@LY4P6BDI$Q)3]N4/'U%E.A:U7Y?'HH#G6U[2=+@_QE MTJ'VZ$F,D%_+(LJ<*J[]HJD14.56REAW*&O_W0@Y+_UJQ.E'G\4P- M\>Y32]P`<25A1;JL[,N=6*:NM]^[U@1WH[#$M0*CI1$R*TF_%XN,4;59#8-. M%=)^T$GGGE;+TI=&95XT*`A&+=5=RW([5VVFB#)&7BWKD'.;O/<+%G+:2T05 M(Z^6U1]"U5\U?-J]?M]-=X^/Q[/[PT_UD5,J?C]_LMA^@?5+'5N"W]*766O% MDL>3;:-\?[*MLY"0_S*8?*&.4M2("[>#R;8.8LB(5Z;]$;49-5RAXT!J MTW1E.AA.5)&/VJC.GZB2':],(VJC,ZGP`?T]YD3]:26VH;^NG*@_E,0K]+>2 M-,--5Y)X/%&/_+$-/;^?J*?S>.4VINFA]VZ:KES3E3J21:^3*)JH3T)@&_J^ MPT1]<0&OT&<0R`=-`4@?-2`?-%VA3Q20#YJNT`<'R`=-5^:CR:9IWN;CR:9I M_-O19-O$Z0,LDY0^"8(CH0^FT.B;KM`'3B;J&R;8ACY(0GYING([FMPVV9^. M)M,FGHPF]`$EM)#0!#?)5Q3(37PVFLQJ?FDGE[Z?_'+W?;>X>_V^?SZ>/>Z^ M4>K1KYZ_ZB\PF_?0S=^K?SV\T9>3JP=?>RB=T&ER+?#X8W_0QV] MM-_>_OQO`0```/__`P!02P,$%``&``@````A`$8AZ&\Q`0``0`(``!$`"`%D M;V-0-6"@! MM-N_EW5=G=&31_*^/#S?1S7;F2;[!!]T:VM$"X(RL+)5VFYJ]+RGCTK0,?-80LD6Q@TM5H&Z-C&`>Y!2-"D1HVA>O6 M&Q'3T6^P$_)=;`"7A%QC`U$H$04^`',W$M&`5')$N@_?]``E,31@P,:`:4'Q M=S>"-^'/"WURUC0Z[EV::=`]9RMY#,?V+NBQV'5=T4UZC>1/\6KQ\-2/FFM[ MV)4$Q`_[:42(B[3*M09UN^>[-]]D(6PK_#NKE.SMF/0@(J@LO<>.=J?D97)W MOYPC7A)ZE9-I3B;+DC)"63E]K?"I-=SG(]`,`O\FG@"\]_[YY_P+``#__P,` M4$L#!!0`!@`(````(0!D4<_'E@```*H````0````>&PO8V%L8T-H86EN+GAM M;#R.P0H"(11%]T'_(&_?.#.+B%`'"OJ"^@!Q7J.@3_%)U-]GFS87#A?.O6IY MIRA>6#EDTC`-(P@DE]=`FX;'_78X@>!F:;4Q$VKX(,-B]COE;'17;P.);B#6 MX%LK9RG9>4R6AUR0>O/,-=G6L6Z22T6[LD=L*;HN$'`<#8M"<$8M>AG_XDPKHS+;NUDQ$%'8)$:(+@%6:F[7<3\*F[]1PJB` M$2J.,RH,1.';170+U`5M0KDV<;2TETM@5NF>X7\P;*=!;T8-.#B#8$DUI](B M+,=6_U1G41BKXQ>E7\T"P)HH1(;ZLCHV>9MG?AZ?750<>&IS.@TU$B2T,4ZY M%6`>L@G5U@/Y[**)N4)1(ZX!;;-(L#;(C;08+S*6=;:Y:B+?^3!2TBC!4VHA M)=^IH)(!2=YY^A%^,J'_-I%8M.0JS1"5D8<"$[;3[4)?.])"U189T58*=B+W MU)8:-DIU556&#!E3)<9!>JU<<\.4HY;H.T+92'EYQW*)H)7&WO+2[Y4%\@@, M^)+.A-^K![L`38;&[)71SH<7JC46X=IKX4[)^11T3NXXG7'!79M[&<%$DY;Z:1O2ZV;?R[>'QIZ.+O]O#T4QX.TQ33 M_BF11S"EL)\222JFZAI7P79KMR^C9$$UI+C/ MMO2WB^@6%[863LEH07%LI5N>]P3WQGBN'U+QR?EQ_ZR/SX?&712^/9GBOP`` M`/__`P!02P$"+0`4``8`"````"$`29L[N/$!``##%P``$P`````````````` M````````6T-O;G1E;G1?5'EP97-=+GAM;%!+`0(M`!0`!@`(````(0"U53`C M]0```$P"```+`````````````````"H$``!?[HBP,``&(+ M```/`````````````````)@*``!X;"]W;W)K8F]O:RYX;6Q02P$"+0`4``8` M"````"$`'>D-&>0%``")%P``&`````````````````!0#@``>&PO=V]R:W-H M965T&UL4$L!`BT`%``&``@````A`""=KM0,`P``$PD``!D` M````````````````:A0``'AL+W=O&PO M=V]R:W-H965T0`,` M`,0)```9`````````````````$0;``!X;"]W;W)K&UL4$L!`BT`%``&``@````A`.->!5!1`@``+04``!D````````````````` MNQX``'AL+W=O&PO=V]R:W-H965T&UL4$L!`BT`%``& M``@````A`/&Y&A;8`P``EPP``!D`````````````````7B@``'AL+W=O&UL4$L!`BT`%``&``@````A`'B535BN M!```LA$``!D`````````````````=S,``'AL+W=ODWP^D@``'3S```4```````` M``````````1"``!X;"]S:&%R9613=')I;F=S+GAM;%!+`0(M`!0`!@`(```` M(0"ZLQ]Q]PL``*YM```-`````````````````#"+``!X;"]S='EL97,N>&UL M4$L!`BT`%``&``@````A`/MBI6V4!@``IQL``!,`````````````````4I<` M`'AL+W1H96UE+W1H96UE,2YX;6Q02P$"+0`4``8`"````"$`'P;T#^\#``"Q M#0``&0`````````````````7G@``>&PO=V]R:W-H965T&UL4$L!`BT`%``&``@````A``0& MXON0`P``>0L``!@`````````````````CJ4``'AL+W=O&UL4$L!`BT`%``&``@` M```A`!%'B?$O"0``)R\``!D`````````````````\JP``'AL+W=O&UL4$L!`BT`%``&``@````A`*]&ZR_*`@`` M;`<``!@`````````````````=L(``'AL+W=O&PO=V]R:W-H965T&UL4$L!`BT`%``&``@````A`&S"AQQV#P``L58``!@````````````` M````+^@``'AL+W=O.@0&``#0&0``&0`````` M``````````"$_0``>&PO=V]R:W-H965T```9`````````````````+\#`0!X;"]W;W)K M&UL4$L!`BT`%``&``@````A`!WF]ZD0!```KPX` M`!D`````````````````&`L!`'AL+W=O&PO=V]R:W-H965T&UL4$L!`BT`%``&``@````A`-/!@C/.`@``>0<``!D````````````` M````\AT!`'AL+W=O&PO=V]R:W-H965T M&UL4$L!`BT` M%``&``@````A`/>'#4;,`@``D0<``!D`````````````````(#$!`'AL+W=O M&PO=V]R:W-H965T&UL4$L!`BT`%``&``@````A`$8A MZ&\Q`0``0`(``!$`````````````````ADH!`&1O8U!R;W!S+V-O&UL M4$L!`BT`%``&``@````A`&11S\>6````J@```!``````````````````[DP! M`'AL+V-A;&-#:&%I;BYX;6Q02P$"+0`4``8`"````"$`L7#HSO<"``!X"0`` M$`````````````````"R30$`9&]C4')O<',O87!P+GAM;%!+!08`````+@`N +`&L,``#?40$````` ` end XML 13 R33.htm IDEA: XBRL DOCUMENT v2.4.1.9

Income Taxes - Additional Information (Detail) (USD $)
In Millions, unless otherwise specified
9 Months Ended

Feb. 28, 2015

Income Tax Contingency [Line Items]

Deferred tax assets 50us-gaap_DeferredTaxAssetsGross

Federal net operating loss and tax credit carryforwards 35

State net operating loss carryforwards 8

Differences between financial and tax reporting 7us-gaap_DeferredTaxAssetsNet

Deferred tax assets pertain to discontinued operations 5

Minimum [Member] | Federal [Member]

Income Tax Contingency [Line Items]

Net operating loss and tax credit carryforwards life expectancy 16 years

Minimum [Member] | State [Member]

Income Tax Contingency [Line Items]

Net operating loss and tax credit carryforwards life expectancy 5 years

Maximum [Member] | Federal [Member]

Income Tax Contingency [Line Items]

Net operating loss and tax credit carryforwards life expectancy 20 years

Maximum [Member] | State [Member]

Income Tax Contingency [Line Items]

Net operating loss and tax credit carryforwards life expectancy 20 years

Large accelerated filer

Accelerated filer

Non-accelerated filer

Smaller reporting company

Income Taxes - Additional Information (Detail) (USD $) In Millions, unless otherwise specified	9 Months Ended
	Feb. 28, 2015
Income Tax Contingency [Line Items]
Deferred tax assets	50us-gaap_DeferredTaxAssetsGross
Federal net operating loss and tax credit carryforwards	35
State net operating loss carryforwards	8
Differences between financial and tax reporting	7us-gaap_DeferredTaxAssetsNet
Deferred tax assets pertain to discontinued operations	5
Minimum [Member] \| Federal [Member]
Income Tax Contingency [Line Items]
Net operating loss and tax credit carryforwards life expectancy	16 years
Minimum [Member] \| State [Member]
Income Tax Contingency [Line Items]
Net operating loss and tax credit carryforwards life expectancy	5 years
Maximum [Member] \| Federal [Member]
Income Tax Contingency [Line Items]
Net operating loss and tax credit carryforwards life expectancy	20 years
Maximum [Member] \| State [Member]
Income Tax Contingency [Line Items]
Net operating loss and tax credit carryforwards life expectancy	20 years

Discontinued Operations - Summary of Assets and Liabilities of Discontinued Operations (Detail) (USD $) In Thousands, unless otherwise specified	Feb. 28, 2015	May 31, 2014
Current Assets:
Accounts receivable	$ 298	$ 4,770
Inventories	194	2,703
Current Assets, Total	492	7,473
Property, Plant and Equipment:
Property, plant and equipment, at cost		9,812
Less accumulated depreciation		7,901
Property, Plant and Equipment, Total		1,911
Current Liabilities:
Accounts payable, trade	117	2,089
Accrued salaries and wages		419
Accrued marketing programs	64	330
Other accrued liabilities	157	186
Current Liabilities, Total	$ 338	$ 3,024

Warranty - Reconciliation of Accrued Warranty and Related Expenses (Detail) (USD $) In Thousands, unless otherwise specified	9 Months Ended
	Feb. 28, 2015	Feb. 28, 2014	May 31, 2014
Guarantees [Abstract]
Balance at the beginning of the period	$ 5,697us-gaap_ProductWarrantyAccrual	$ 5,882us-gaap_ProductWarrantyAccrual
Accruals for warranties	4,932	4,106
Settlements made during the period	(4,907)	(3,867)
Balance at the end of the period	5,722us-gaap_ProductWarrantyAccrual	6,121us-gaap_ProductWarrantyAccrual
Non-current balance included in other deferred liabilities	2,000	2,200	2,000
Accrued warranty and related expenses	$ 3,722	$ 3,921	$ 3,697

Other Assets - Additional Information (Detail) (USD $)	Feb. 28, 2015	May 31, 2014
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Cash surrender value of life insurance	$ 6,511,000	$ 6,452,000

Warranty - Additional Information (Detail) (USD $)	Feb. 28, 2015	May 31, 2014	Feb. 28, 2014	May 31, 2013
Guarantor Obligations [Line Items]
Estimated warranty obligation	$ 5,722,000us-gaap_ProductWarrantyAccrual	$ 5,697,000us-gaap_ProductWarrantyAccrual	$ 6,121,000us-gaap_ProductWarrantyAccrual	$ 5,882,000us-gaap_ProductWarrantyAccrual
Estimated warranty obligation current	3,722,000	3,697,000	3,921,000
Estimated warranty obligation noncurrent	2,000,000	2,000,000	2,200,000
Recreational Vehicles [Member]
Guarantor Obligations [Line Items]
Estimated warranty obligation	965,000		1,900,000
Estimated warranty obligation current			1,200,000
Estimated warranty obligation noncurrent			$ 700,000

Long-Term Liabilities - Additional Information (Detail) (Life Insurance Loans [Member], USD $)	9 Months Ended
	Feb. 28, 2015	May 31, 2014
Schedule Of Long Term Debt [Line Items]
Weighted Average Interest Rate	5.90%us-gaap_DebtWeightedAverageInterestRate
Prepaid Interest	217,000us-gaap_PrepaidInterest	$ 165,000us-gaap_PrepaidInterest
Minimum [Member]
Schedule Of Long Term Debt [Line Items]
Interest Rate	4.20%
Maximum [Member]
Schedule Of Long Term Debt [Line Items]
Interest Rate	7.40%

Consolidated Balance Sheets (USD $) In Thousands, unless otherwise specified	Feb. 28, 2015	May 31, 2014
Current Assets:
Cash	$ 4,933us-gaap_Cash	$ 6,031us-gaap_Cash
Accounts receivable	13,089us-gaap_AccountsReceivableNetCurrent	16,259us-gaap_AccountsReceivableNetCurrent
Note receivable, current		50
Inventories	9,307us-gaap_InventoryNet	8,627us-gaap_InventoryNet
Workers' compensation security deposit	2,137sky_DeferredWorkersCompensationDeposit	2,688sky_DeferredWorkersCompensationDeposit
Other current assets	753us-gaap_OtherAssetsCurrent	542us-gaap_OtherAssetsCurrent
Assets of discontinued operations	492	7,473
Total Current Assets	30,711us-gaap_AssetsCurrent	41,670us-gaap_AssetsCurrent
Note Receivable, non-current		1,581
Property, Plant and Equipment, at Cost:
Land	3,586us-gaap_Land	3,586us-gaap_Land
Buildings and improvements	39,720us-gaap_BuildingsAndImprovementsGross	39,254us-gaap_BuildingsAndImprovementsGross
Machinery and equipment	16,976us-gaap_MachineryAndEquipmentGross	17,238us-gaap_MachineryAndEquipmentGross
Property, Plant and Equipment gross	60,282us-gaap_PropertyPlantAndEquipmentGross	60,078us-gaap_PropertyPlantAndEquipmentGross
Less accumulated depreciation	47,019	46,036
Property, Plant and Equipment	13,263us-gaap_PropertyPlantAndEquipmentNet	14,042us-gaap_PropertyPlantAndEquipmentNet
Assets of discontinued operations, net of accumulated depreciation		1,911
Net Property, Plant and Equipment	13,263	15,953
Other Assets	6,892us-gaap_OtherAssetsNoncurrent	6,550us-gaap_OtherAssetsNoncurrent
Total Assets	50,866us-gaap_Assets	65,754us-gaap_Assets
Current Liabilities:
Accounts payable, trade	1,640us-gaap_AccountsPayableTradeCurrent	3,050us-gaap_AccountsPayableTradeCurrent
Accrued salaries and wages	1,594us-gaap_AccruedSalariesCurrent	2,255us-gaap_AccruedSalariesCurrent
Accrued marketing programs	3,606us-gaap_AccruedAdvertisingCurrent	2,526us-gaap_AccruedAdvertisingCurrent
Accrued warranty and related expenses	3,722	3,697
Other accrued liabilities	2,888us-gaap_OtherAccruedLiabilitiesCurrent	3,695us-gaap_OtherAccruedLiabilitiesCurrent
Liabilities of discontinued operations	338	3,024
Total Current Liabilities	13,788us-gaap_LiabilitiesCurrent	18,247us-gaap_LiabilitiesCurrent
Long-Term Liabilities:
Other deferred liabilities	7,171	7,386
Life insurance loans	6,334us-gaap_LoansPayable	6,334us-gaap_LoansPayable
Total Long-Term Liabilities	13,505us-gaap_LiabilitiesNoncurrent	13,720us-gaap_LiabilitiesNoncurrent
Commitments and Contingencies - See Note 9
Shareholders' Equity:
Common stock, $.0277 par value, 15,000,000 shares authorized; issued 11,217,144 shares	312us-gaap_CommonStockValue	312us-gaap_CommonStockValue
Additional paid-in capital	4,928	4,928
Retained earnings	84,077	94,291
Treasury stock, at cost, 2,825,900 shares	(65,744)us-gaap_TreasuryStockValue	(65,744)us-gaap_TreasuryStockValue
Total Shareholders' Equity	23,573us-gaap_StockholdersEquity	33,787us-gaap_StockholdersEquity
Total Liabilities and Shareholders' Equity	$ 50,866	$ 65,754

Gain on Sale of Idle Property, Plant and Equipment - Additional Information (Detail) (USD $)	3 Months Ended	9 Months Ended	3 Months Ended
	Feb. 28, 2014	Feb. 28, 2014	Nov. 30, 2013
Gain (Loss) on Investments [Line Items]
Gain on sale of idle facilities	$ 300,000	$ 462,000
Fair Haven, Vermont [Member]
Gain (Loss) on Investments [Line Items]
Gain on sale of idle facilities			162,000
Halstead, Kansas [Member]
Gain (Loss) on Investments [Line Items]
Gain on sale of idle facilities	$ 300,000

Nature of Operations, Accounting Policies of Consolidated Financial Statements - Additional Information (Detail) (USD $)	3 Months Ended		9 Months Ended		12 Months Ended	0 Months Ended
	Feb. 28, 2015 Facility Property Community	Feb. 28, 2014 Facility	Feb. 28, 2015 Facility Vehicle Property Community	Feb. 28, 2014 Facility	May 31, 2014 Land Facility Property	Mar. 20, 2015
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items]
Number of idle properties held for sale			2
Number of idle properties	1sky_NumberOfIdleProperties		1sky_NumberOfIdleProperties		3sky_NumberOfIdleProperties
Impairment of long-lived assets			$ 0us-gaap_AssetImpairmentCharges
Number of idle facilities sold					2sky_NumberOfIdleFacilitiesSold
Number of undeveloped land sold					1sky_NumberOfUndevelopedLandParcels
Number of housing facilities with operating profits	4	2	7	4
Number of housing facilities	8sky_NumberOfHousingFacilities	8sky_NumberOfHousingFacilities	8sky_NumberOfHousingFacilities	8sky_NumberOfHousingFacilities
Percentage of decrease in sales	23.00%sky_PercentageOfDecreaseInNetSales
Number of largest communities	6		6
Percentage of increase in sales	41.00%sky_PercentageOfIncreaseInNetSales		40.00%sky_PercentageOfIncreaseInNetSales
Interest rate description			Loan advances bear interest at 3.75% in excess of The Wall Street Journal's published one year LIBOR rate
Employee Severance [Member]
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items]
Savings on employee termination			400,000
Home Sales [Member]
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items]
Product warranty			15 months
Modular Housing [Member]
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items]
Percentage of increase in sales	22.00%		16.00%
Park Models [Member]
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items]
Percentage of increase in sales	45.00%		82.00%
Subsequent Event [Member]
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items]
Maximum borrowing capacity						$ 10,000,000
Secured revolving credit facility term						3 years
Credit facility, interest rate						3.75%
Mansfield, Texas [Member]
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items]
Percentage of decrease in sales	7.00%
Building and Improvements [Member] \| Minimum [Member]
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items]
Estimated useful lives of property, plant and equipment			10 years
Building and Improvements [Member] \| Maximum [Member]
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items]
Estimated useful lives of property, plant and equipment			30 years
Machinery and Equipment [Member] \| Minimum [Member]
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items]
Estimated useful lives of property, plant and equipment			5 years
Machinery and Equipment [Member] \| Maximum [Member]
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items]
Estimated useful lives of property, plant and equipment			8 years

Subsequent Events - Additional Information (Detail) (USD $)	9 Months Ended	0 Months Ended
	Feb. 28, 2015	Mar. 20, 2015
Subsequent Event [Line Items]
Interest rate description	Loan advances bear interest at 3.75% in excess of The Wall Street Journal's published one year LIBOR rate
Subsequent Event [Member]
Subsequent Event [Line Items]
Maximum borrowing capacity		$ 10,000,000
Credit facility, interest rate		3.75%
Secured revolving credit facility term		3 years
Secured revolving credit facility renewal term		1 year
Facility fee amount		150,000
Annual facility fees		50,000
Unused line fee payable in arrears per annum		0.25%
Percentage of monthly bank assessment fees per annum		0.25%
Overadvance fees per day		1,000
Percentage of monthly letter of credit fees payable in arrears		0.25%
Covenants limit on capital expenditures per year		$ 600,000
Unpaid balances interest rate		3.00%

Consolidated Balance Sheets (Parenthetical) (USD $)	Feb. 28, 2015	May 31, 2014
Statement of Financial Position [Abstract]
Common stock, par value	$ 0.0277	$ 0.0277
Common stock, shares authorized	15,000,000us-gaap_CommonStockSharesAuthorized	15,000,000us-gaap_CommonStockSharesAuthorized
Common stock, shares issued	11,217,144us-gaap_CommonStockSharesIssued	11,217,144us-gaap_CommonStockSharesIssued
Treasury stock, shares	2,825,900us-gaap_TreasuryStockShares	2,825,900us-gaap_TreasuryStockShares

Document and Entity Information	9 Months Ended
Document and Entity Information	Feb. 28, 2015	Apr. 03, 2015
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Feb. 28, 2015
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q3
Trading Symbol	SKY
Entity Registrant Name	SKYLINE CORP
Entity Central Index Key	0000090896
Current Fiscal Year End Date	--05-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		8,391,244dei_EntityCommonStockSharesOutstanding

Discontinued Operations - Additional Information (Detail) (USD $)	3 Months Ended	9 Months Ended		0 Months Ended
	Feb. 28, 2014	Feb. 28, 2015 Vehicle	Feb. 28, 2014	Oct. 07, 2014
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain on the sale of idle facilities	$ 300,000		$ 462,000
Number of idle recreational vehicle manufacturing facilities for sale		2
Evergreen Recreational Vehicles LLC [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Percent of Corporation's cost for raw materials inventory purchased				50.00%
Period of raw materials inventory purchased cost payment				10 days
Corporation's raw material cost				1,600,000
Reduction in value of the raw material and payment				(901,000)
Payment to acquire raw material inventory		596,000
Recreational Vehicle Operations [Member] \| Bristol [Member] \| Manufacturing Facility [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash payment received as consideration for asset sold				806,000
Prorated property taxes				73,000
Selling expenses				2,000
Bristol, Indiana Manufacturing Facility [Member] \| Recreational Vehicle Operations [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash payment received as consideration for asset sold				175,000
Bristol, Indiana Manufacturing Facility [Member] \| Recreational Vehicle Operations [Member] \| Bristol [Member] \| Manufacturing Facility [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Area of property				135,000
Area of land				18.2
Elkhart Indiana [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of idle recreational vehicle manufacturing facilities for sale		2
Elkhart Indiana [Member] \| Recreational Vehicles [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain on the sale of idle facilities		670,000

Inventories - Schedule of Inventories from Continuing Operations (Detail) (USD $) In Thousands, unless otherwise specified	Feb. 28, 2015	May 31, 2014
Inventory Disclosure [Abstract]
Raw materials	$ 5,751us-gaap_InventoryRawMaterials	$ 5,135us-gaap_InventoryRawMaterials
Work in process	2,848us-gaap_InventoryWorkInProcess	3,174us-gaap_InventoryWorkInProcess
Finished goods	708us-gaap_InventoryFinishedGoods	318us-gaap_InventoryFinishedGoods
Total inventories	$ 9,307us-gaap_InventoryNet	$ 8,627us-gaap_InventoryNet

Note Receivable - Additional Information (Detail) (USD $)	12 Months Ended	9 Months Ended	12 Months Ended
	May 31, 2014 Facility	Feb. 28, 2015	May 31, 2013 Facility
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of idle facilities sold	2sky_NumberOfIdleFacilitiesSold
Hemet California [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of idle facilities sold			2
Note receivable from sale of idle property, plant and equipment			$ 1,700,000
Note receivable interest rate			6.00%
Facilities collateral for note			2
Note receivable interest amortization period			20 years
Note receivable final payment period			6 years
Note receivable fully repaid date		2014-12