Anthroportscapes Honors Thesis Presented to the College of Agriculture and Life Sciences, Landscape Architecture Department of Cornell University /ŶWĂƌƟĂů&ƵůůĮůůŵĞŶƚŽĨƚŚĞZĞƋƵŝƌĞŵĞŶƚƐŽĨƚŚĞ Research Honors Program by Chethan Roy Sarabu May 2009 ZĞƐĞĂƌĐŚ&ĂĐƵůƚLJDĞŶƚŽƌ Amaechi Okigbo 1 dŚŝƐƚŚĞƐŝƐŝƐĚĞĚŝĐĂƚĞĚƚŽŵLJƉĂƌĞŶƚƐĂŶĚŵLJƐŝƐƚĞƌĨŽƌĂůǁĂLJƐƐƵƉƉŽƌƟŶŐŵLJĞŶĚĞĂǀŽƌƐ͘ ĚĚŝƟŽŶĂůůLJ͕ /ƚŝƐĚĞĚŝĐĂƚĞĚƚŽŵLJǁŽŶĚĞƌĨƵůŵĞŶƚŽƌƐǁŚŽ͛ǀĞŚĞůƉĞĚŐƵŝĚĞŵĞƚŚƌŽƵŐŚŽƵƚŵLJůŝĨĞ͘ /ƚŝƐĚĞĚŝĐĂƚĞĚƚŽŵLJĞdžƚĞŶĚĞĚĨĂŵŝůLJĂŶĚĨƌŝĞŶĚƐǁŚŽŚĂǀĞŚĞůƉĞĚĨƌŽŵŶĞĂƌĂŶĚĨĂƌ͘ 2 Table of Contents Acknowledgements /6 Preface /8 Abstract /15 /ŶƚƌŽĚƵĐƟŽŶ ͬϭϲ Grounding ϭ͘WůĂĐĞΘWŽƌƚƐĐĂƉĞƐсŝƟĞƐнŝƌƉŽƌƚƐŝŶƚŚĞhƌďĂŶ>ĂŶĚƐĐĂƉĞ ͬϮϮ ͬWůĂĐĞΘŝƚLJͬϮϮ ͬ'ůŽďĂůŝƚLJEĞƚǁŽƌŬƐ ͬϮϴ ͬŝƚLJ͛ƐWŽƌƚƐ ͬϯϲ ͬŝƌƉŽƌƚƐĐĂƉĞƐ ͬϰϬ Ϯ͘dƌĂǀĞůΘŶƚŚƌŽƉŽƌƚƐсWĞŽƉůĞнŝƌƉŽƌƚƐ ͬϱϯ ͬtŚLJĚŽWĞŽƉůĞdƌĂǀĞů͍ ͬϱϯ ͬdŚĞdžƉĞƌŝĞŶĐĞŽĨdƌĂǀĞů ͬϱϵ ͬdŚĞŝƌƉŽƌƚdžƉĞƌŝĞŶĐĞ ͬϳϰ 3 ϯ͘ŝƌƉŽƌƚƐŝŶƚŽŶƚŚƌŽƉŽƌƚƐĐĂƉĞƐсWĞŽƉůĞнWŽƌƚƐн>ĂŶĚƐĐĂƉĞ ͬϴϲ ͬŝƌƉŽƌƚƐ ͬϴϲ ͬŶƚŚƌŽƉŽƌƚƐĐĂƉĞƐ ͬϵϰ ĞƐƟŶĂƟŽŶ ϰ͘ĞƐŝŐŶ^ŽůƵƟŽŶƐ͗,ŽǁƚŽƌĂŌĂŶŶƚŚƌŽƉŽƌƚƐĐĂƉĞ ͬϭϬϴ ͬŽŶŶĞĐƟŶŐŝƌƉŽƌƚΘŝƚLJ ͬϭϬϵ ͬĞǀĞůŽƉŝŶŐ^ĞŶƐĞŽĨWůĂĐĞͬϭϮϭ ͬdžƉŽƐŝŶŐĐŽůŽŐLJŝŶƚŚĞŝƌƉŽƌƚ ͬϭϯϬ ͬĞŵŽĐƌĂƟnjŝŶŐŝƌƉŽƌƚhƐĞ ͬϭϰϮ ͬ'ůŽďĂůhŶĚĞƌƐƚĂŶĚŝŶŐΘ&ŽƌƵŵĨŽƌ^ƵƐƚĂŝŶĂďŝůŝƚLJĂŶĚƵůƚƵƌĞ ͬϭϱϬ &ͬ^ƉĞĐƵůĂƟŶŐŽŶŝƌƉŽƌƚ&ƵƚƵƌĞƐ ͬϭϲϴ ϱ͘ĂƐĞ^ƚƵĚLJ͗,LJĚĞƌĂďĂĚ͕/ŶĚŝĂͬϭϳϭ ͬ/ŶĚŝĂdŽĚĂLJ ͬϭϳϭ ͬ,LJĚĞƌĂďĂĚ͕ŶĚŚƌĂWƌĂĚĞƐŚ ͬϭϳϲ ͬhƌďĂŶDŽƌƉŚŽůŽŐLJŽĨĂWŽůLJĐĞŶƚƌŝĐŝƚLJ ͬϭϴϰ 4 ͬdŚĞEĞǁŝƌƉŽƌƚ ͬϭϵϳ ͬ,LJĚĞƌĂďĂĚŝ&ƵƚƵƌĞ^ƉĞĐƵůĂƟŽŶƐ ͬϮϬϲ &ͬ,LJĚĞƌĂďĂĚŝŶƚŚƌŽƉŽƌƚƐĐĂƉĞ ͬϮϭϴ ϲ͘ƌĐŚŝƚĞĐƚƐŽĨŶƚŚƌŽƉŽƌƚƐĐĂƉĞƐ ͬϮϮϱ ConclusionͬϮϮϵ Table of Figures ͬϮϯϰ BibliographyͬϮϰϭ 5 acknowledgements /ǁŽƵůĚůŝŬĞƚŽƚŚĂŶŬŵĂĞĐŚŝKŬŝŐďŽĨŽƌĂůůŽĨŚŝƐƐƵƉƉŽƌƚ͕ĐƌŝƟĐĂůƚĞĂĐŚŝŶŐ͕ĂŶĚĐƌƵĐŝĂůŐƵŝĚĂŶĐĞ͘/ŚĂǀĞŚĂĚ ƚŚĞƉůĞĂƐƵƌĞŽĨŬŶŽǁŝŶŐWƌŽĨĞƐƐŽƌKŬŝŐďŽĨŽƌƚŚĞƉĂƐƚƚŚƌĞĞLJĞĂƌƐĂŶĚŚĂǀŝŶŐŚŝŵĂƐĂƐƚƵĚŝŽĐƌŝƟĐƚǁŝĐĞ͘ dŚŝƐƚŚĞƐŝƐǁŽƵůĚŶŽƚŚĂǀĞďĞĞŶƉŽƐƐŝďůĞǁŝƚŚŽƵƚŚŝƐŐƵŝĚĂŶĐĞ͘/ĚĞĞƉůLJĂƉƉƌĞĐŝĂƚĞĂůůƚŚĞĐŽŶǀĞƌƐĂƟŽŶƐĂŶĚ ŵĞĞƟŶŐƐǁĞŚĂǀĞŚĂĚĚŝƐĐƵƐƐŝŶŐĂǁŝĚĞƐƚĞǁŽĨŝƐƐƵĞƐ͘EŽƚŽŶůLJŚĂƐŚĞďĞĞŶĂŐƌĞĂƚŵĞŶƚŽƌĂŶĚĂĚǀŝƐŽƌďƵƚ ŚĂƐĂůƐŽďĞĐŽŵĞĂĐůŽƐĞĨƌŝĞŶĚ͘ /ǁŽƵůĚůŝŬĞƚŽƚŚĂŶŬWƌĂƐĂŶŶĂŚĂůůĂŽĨƚŚĞ'DZ'ƌŽƵƉĨŽƌƚŚĞŽƉƉŽƌƚƵŶŝƚLJƚŽƐƉĞŶĚƟŵĞŽŶƐŝƚĞĂƚƚŚĞŶĞǁ ,LJĚĞƌĂďĂĚŝƌƉŽƌƚ͘/ĂŵĚĞĞƉůLJŐƌĂƚĞĨƵůĨŽƌŚŝƐĂƐƐŝƐƚĂŶĐĞĂŶĚŽƉĞŶŶĞƐƐŝŶŚĞůƉŝŶŐŵĞĐŽŶĚƵĐƚŵLJƌĞƐĞĂƌĐŚ͘ tŝƚŚŽƵƚŚŝƐƐƵƉƉŽƌƚŝƚǁŽƵůĚŚĂǀĞďĞĞŶĚŝĸĐƵůƚƚŽĂĐƚƵĂůůLJĞdžƉůŽƌĞĂŶĂŝƌƉŽƌƚ͘dŚŝƐŚĂƐďĞĞŶĂŶŝŵƉŽƌƚĂŶƚ ŐŽĂůŝŶŵLJůŝĨĞ͕ĂŶĚŶŽǁ/ŚĂǀĞďĞĞŶĂďůĞƚŽĨƵůĮůůŝƚ͘ 6 /ǁŽƵůĚůŝŬĞƚŽƚŚĂŶŬ:ĂŵĞƐDĐůƵŶŐŽĨƚŚĞ>ŽƵŝƐĞƌŐĞƌ'ƌŽƵƉĨŽƌƚŚĞŽƉƉŽƌƚƵŶŝƚLJƚŽŐŽďĂĐŬƚŽ/ŶĚŝĂĂŶĚǀŝƐŝƚƚŚĞĂŝƌƉŽƌƚ ŽŶĐĞŝƚŚĂĚďĞĐŽŵĞŽƉĞƌĂƟŽŶĂů͘ůƐŽ/ǁŽƵůĚůŝŬĞƚŽƚŚĂŶŬ<ĂƚŚƌLJŶ'ůĞĂƐŽŶĨŽƌĂƐƐŝƐƟŶŐŵĞĚƵƌŝŶŐƚŚŝƐƚƌŝƉ͘ /ǁŽƵůĚůŝŬĞƚŽƚŚĂŶŬDĂƌǀŝŶĚůĞŵĂŶĨŽƌŐŝǀŝŶŐŵĞƚŚĞŽƉƉŽƌƚƵŶŝƚLJƚŽƉƵƌƐƵĞĂŶĚĞdžƉůŽƌĞƚŚĞďƌŽĂĚĂŶĚǁŽŶĚĞƌĨƵůĮĞůĚŽĨ ůĂŶĚƐĐĂƉĞĂƌĐŚŝƚĞĐƚƵƌĞ͘ /ǁŽƵůĚůŝŬĞƚŽƚŚĂŶŬ:ĞƌĞŵLJ&ŽƐƚĞƌĨŽƌƐƵƉƉŽƌƟǀĞĐŽŶǀĞƌƐĂƟŽŶƐƌĞŐĂƌĚŝŶŐƚŚŝƐƚŚĞƐŝƐĂƐǁĞůůĂƐƉƌŽǀŝĚŝŶŐĂƐĞƌŝĞƐŽĨĞdžĐĞů- ůĞŶƚƌĞĂĚŝŶŐƐ͘ /ǁŽƵůĚůŝŬĞƚŽƚŚĂŶŬ:ĂŶĞ&ĞƌŐƵƐŽŶĨŽƌŚĞƌƌĞŵŽƚĞŐƵŝĚĂŶĐĞĂŶĚŝŵƉŽƌƚĂŶƚƐƵŐŐĞƐƟŽŶƐĨŽƌŬĞLJůŝƚĞƌĂƚƵƌĞĂŶĚƉŽŝŶƚƐŽĨĨŽĐƵƐ͘ /ǁŽƵůĚůŝŬĞƚŽƚŚĂŶŬWĞƚĞƌdƌŽǁďƌŝĚŐĞĨŽƌƐƵƉƉŽƌƟŶŐŵĞƚŚƌŽƵŐŚŽƵƚŵLJƟŵĞĂƐĂůĂŶĚƐĐĂƉĞĂƌĐŚŝƚĞĐƚƵƌĞƐƚƵĚĞŶƚ͘ /ǁŽƵůĚůŝŬĞƚŽƚŚĂŶŬWŽƌƵƐKůƉĂĚǁĂůĂĨŽƌŐŝǀŝŶŐŵĞĂƐĞŶƐĞŽĨĐŽŶĮĚĞŶĐĞĂďŽƵƚƚŚĞƉƌŽũĞĐƚĂƐǁĞůůĂƐƉƌŽǀŝĚŝŶŐŚĞůƉĨƵů ĐŽŶƚĂĐƚƐ͘ I would like to thank all of the friends and colleagues that I made while working at the Airport, their support and care was ǀĞƌLJǁĞůĐŽŵŝŶŐ͘ /ǁŽƵůĚůŝŬĞƚŽƚŚĂŶŬĂůůŽĨŵLJĨƌŝĞŶĚƐĂŶĚĨĂŵŝůLJĂƚŚŽŵĞǁŚŽƐƵƉƉŽƌƚĞĚŵĞƚŚƌŽƵŐŚŽƵƚƚŚĞƉƌŽĐĞƐƐŽĨǁƌŝƟŶŐƚŚŝƐƚŚĞƐŝƐ͕ĂƐ ǁĞůůĂƐƚĂŬŝŶŐŵLJƐƵƌǀĞLJ͘ 7 Preface ͞dŚĞŵŽĚĞƌŶĂŝƌƉŽƌƚĐŚĂůůĞŶŐĞƐǁĂLJƐŽĨƐĞĞŝŶŐůĂŶĚƐĐĂƉĞŝŶŵĂŶLJǁĂLJƐ͕ĞƌĂƐŝŶŐĐŽŶǀĞŶƟŽŶĂůďŽƵŶĚĂƌŝĞƐŝŶǀŝƐŝŽŶ͕ĂƐŝŶƐŽŵƵĐŚĞůƐĞ͘ &ůŝŐŚƚŚĂƐďĞĞŶƚŚĞƚǁĞŶƟĞƚŚĐĞŶƚƵƌLJ͛ƐŵŽƐƚƌĂĚŝĐĂůĐŚĂůůĞŶŐĞƚŽĐŽŶǀĞŶƟŽŶĂůǁĂLJƐŽĨǀŝĞǁŝŶŐƚŚĞĞĂƌƚŚ͘dŚĞĂŝƌƉŽƌƚĐŽŶĐĞŶƚƌĂƚĞƐĂŶĚ ĐŽŶŇĂƚĞƐĚŝǀĞƌƐĞĞdžƉĞƌŝĞŶĐĞƐŽĨůŝŶĞĂƌĂŶĚĂĞƌŝĂůƉĞƌƐƉĞĐƟǀĞ͖ĨƌŽŵƚŚĞƐƚĂĐŬĞĚĂŝƌůŝŶĞƌĂďŽǀĞ,ĞĂƚŚƌŽǁǁĞƐĞĞƚŚĞƐƉĂĐĞƐŽĨtĞƐƚ>ŽŶĚŽŶ ĂŶĚƚŚĞĂŝƌĮĞůĚŝƚƐĞůĨƐƉƌĞĂĚďĞůŽǁĂƐŇĂƩĞŶĞĚůĂŶĚƐĐĂƉĞŐĞŽŵĞƚƌLJ͘WĞƌĐĞƉƟŽŶ͕ĐůĂƌŝƚLJ͕ĂŶĚĐŽůŽƌĂůƚĞƌǁŝƚŚĚĞƐĐĞŶĚŝŶŐĂŝƌĐƌĂŌĂƐǁĞ ĞŶƚĞƌƚŚĞůĂŶĚƐĐĂƉĞĂƚĂƉƌŽŐƌĞƐƐŝǀĞůLJůŽǁĞƌĂŶŐůĞŽĨƐŝŐŚƚ͘dŚŝƐĐŚĂŶŐŝŶŐĂŶŐůĞŽĨǀŝƐŝŽŶĂŶĚƐƉĞĞĚĂŶĚƚƌĂũĞĐƚŽƌLJŽĨĚĞƐĐĞŶƚŵĂŬĞĨŽƌĂ ĐŽŶƟŶƵŽƵƐŬŝŶĞƐŝƐĂƐƌĞůĂƟŽŶƐĂŵŽŶŐůĂŶĚƐĐĂƉĞĞůĞŵĞŶƚƐƐŚŝŌ͘͟;ŽƐŐƌŽǀĞϮϮϵͿ dŚŝƐƚŚĞƐŝƐŝƐĂŶĞdžƚĞŶƐŝŽŶŽĨŵLJůŝĨĞůŽŶŐƚƌĂǀĞůƐĂŶĚĚƌĞĂŵƐŽĨĚĞƐŝŐŶŝŶŐĂŝƌƉŽƌƚƐ͘ /ŚĂǀĞƚƌĂǀĞůĞĚƚŽŶƵŵĞƌŽƵƐĂŝƌƉŽƌƚƐĂĐƌŽƐƐƚŚƌĞĞĐŽŶƟŶĞŶƚƐƚŚƌŽƵŐŚŽƵƚŵLJϮϮ LJĞĂƌůŝĨĞ͘dŚĞLJŚĂǀĞĂůǁĂLJƐĂŵĂnjĞĚŵĞĞǀĞŶǁŚĞŶǁĞǁĞƌĞƚƌĂƉƉĞĚĨŽƌŚŽƵƌƐŽŶ ĞŶĚĨŽƌƐŽŵĞďŝnjĂƌƌĞƌĞĂƐŽŶ͘,ŽǁĞǀĞƌŽƚŚĞƌƐĂƌŽƵŶĚŵĞĚŝĚŶŽƚƐĞĞŵƚŽĞŶũŽLJ ƚŚĞũŽƵƌŶĞLJĂŶĚƚŚĂƚƉƌŽŵƉƚĞĚŵĞƚŽƐƚĂƌƚŝŶǀĞƐƟŐĂƟŶŐǁŚĂƚǁĂƐŐŽŽĚĂŶĚǁŚĂƚ ĚŝĚŶŽƚǁŽƌŬĂƚĂŝƌƉŽƌƚƐ͘/ĮƌƐƚďĞŐĂŶƚŚŝƐĞdžƉůŽƌĂƟŽŶďLJĚŝĂŐƌĂŵŵŝŶŐĂůůƚŚĞ ĂŝƌƉŽƌƚƐ/ŚĂǀĞƉĞƌƐŽŶĂůůLJďĞĞŶƚŽŽƌƚŚƌŽƵŐŚ͘/ƚǁĂƐĂǀĞƌLJŝŵƉŽƌƚĂŶƚĞdžĞƌĐŝƐĞ to ground myself and also it provides some background on why I am embark- ŝŶŐŽŶƚŚŝƐƚŚĞƐŝƐ͘dŚĞĞdžƉĞƌŝĞŶĐĞĂŶĚƉƌŽĐĞƐƐŽĨƚƌĂǀĞůŝŶŐƚŚƌŽƵŐŚĂŝƌƉŽƌƚƐƐƟůů ĐŽŶƟŶƵĞƐƚŽĂŵĂnjĞĂŶĚĞdžĐŝƚĞŵĞ͕/ŚŽƉĞƚŚĂƚ/ĐĂŶƉůĂLJĂƉĂƌƚŝŶĞŶǀŝƐŝŽŶŝŶŐƚŚĞ ƐƵƐƚĂŝŶĂďůĞĂŝƌƉŽƌƚŽĨƚŚĞϮϭƐƚĐĞŶƚƵƌLJ͘ ;WŚŽƚŽŐƌĂƉŚďLJ͗/DĂƌŝĂĂůĚĞƌŽŶͿ 8 ^ĞĂƩůĞ Syracuse, NY London - Heathrow Dubai >ĂƐsĞŐĂƐ Albany, NY London - Gatwick Delhi San Francisco Ithaca, NY Amsterdam Mumbai San Jose NYC - JFK Munich Hyderabad Los Angeles NYC - LaGuardia Frankfurt dŝƌƵƉĂƟ Honolulu, HI NYC - Newark Milan Chennai Maui, HI Boston Florence Kona, HI Philadelphia Rome Detroit Catania, Sicily Chicago - O’Hare Barcelona WŝƩƐďƵƌŐŚ Madrid ,ƵŶƟŶŐƚŽŶ͕ts ŚĂƌůĞƐƚŽŶ͕ts ŝŶŶĐŝŶĂƟ Indianapolis tĂƐŚŝŶŐƚŽŶ͘͘ͲƵůůĞƐ Atlanta ŚĂƌůŽƩĞ ^ƚĂƌƟŶŐŽƌŶĚŝŶŐŝƌƉŽƌƚ Airports that I’ve visited Orlando Hub Airport Figure p.1 | Airports that I have visited dŚĞƐƚĂƌƟŶŐŽƌĞŶĚŝŶŐĂŝƌƉŽƌƚƐŝŶƌĞĚŝŶĚŝĐĂƚĞĂŝƌƉŽƌƚƐǁŚŝĐŚǁĞƌĞĞŝƚŚĞƌƐƚĂƌƟŶŐŽƌĞŶĚŝŶŐƉŽŝŶƚƐŽĨƚŚĂƚƚƌŝƉǁŚĞƌĞĂƐƚŚĞLJĞůůŽǁŚƵďĂŝƌƉŽƌƚƐŝŶĚŝĐĂƚĞƐǁƟĐŚŝŶŐƉŽŝŶƚƐ͘ 9 dŚĞĨŽůůŽǁŝŶŐƐĞƋƵĞŶĐĞŽĨŝŵĂŐĞƐŚŝŐŚůŝŐŚƚƐŽŶĞŽĨŵLJƌĞĐĞŶƚĂŝƌƉŽƌƚůĂŶĚŝŶŐƐ͘ƐƚŚĞƉůĂŶĞĚĞƐĐĞŶĚƐƚŚĞŽƵƚĞƌĨƌŝŶŐĞƐŽĨƚŚĞĐŝƚLJĐŽŵĞƐ ŝŶƚŽǀŝĞǁ͕ƐůŽǁůLJĐƌĞĞƉŝŶŐƚŽǁĂƌĚƐƚŚĞĚŽǁŶƚŽǁŶĐŽƌĞ͘KŶĐĞŽŶĞƐĞĞƐƚŚĞďƌŝĚŐĞƐĂŶĚƚŚĞƌŝǀĞƌƐƚŚĞĐŝƚLJƵŶƉĂĐŬƐŝƚƐĞůĨ͕ƚŚĞŇŝŐŚƚŚĂƐ ƌĞĂĐŚĞĚŝƚƐĚĞƐƟŶĂƟŽŶ͘,ŽǁĞǀĞƌǁĞŬĞĞƉƚƌĂǀĞůŝŶŐ͕ƚŚĞƐŬLJƐĐƌĂƉĞƌƐĞdžŝƐƚĨŽƌĂďƌŝĞĨŵŽŵĞŶƚďƵƚďĞŝŶŐƚŽĨĂĚĞŝŶƚŽƚŚĞĚŝƐƚĂŶĐĞĂƐƚŚĞ ƉůĂŶĞũŽƵƌŶĞLJƐƚŽƚŚĞĂŝƌƉŽƌƚŽŶƚŚĞƵƌďĂŶĨƌŝŶŐĞŽĨƚŚĞĐŝƚLJ͘ŽǁĞƚŚĞŶďĞĐŽŵĞůŽƐƚŝŶƚƌĂŶƐŝƟŽŶ͍ 10 11 12 13 14 abstract ,ŽǁĚŽĞƐƚŚĞĂŝƌƉŽƌƚĂůƚĞƌƚŚĞƉĞƌĨŽƌŵĂŶĐĞŽĨĂĐŝƚLJ͍,ŽǁĚŽĞƐƚŚĞĂŝƌƉŽƌƚƉůƵŐŝŶƚŽƚŚĞůĂƌŐĞƌůĂŶĚƐĐĂƉĞŽĨĂŶƵƌďĂŶƌĞŐŝŽŶ͍tŚĂƚŵĞĂŶ- ŝŶŐĚŽĞƐƚŚĞĂŝƌƉŽƌƚĐƌĞĂƚĞĨŽƌƚŚĞŵŝůůŝŽŶƐŽĨƉĞŽƉůĞǁŚŽŇLJƚŚƌŽƵŐŚŽŌĞŶǁŝƚŚŽƵƚƉĂƵƐĞ͍ǁĞďďĂƐĞĚƐƵƌǀĞLJǁĂƐƵƐĞĚƚŽĂƐĐĞƌƚĂŝŶĂ ǁŝĚĞƌƐĐŽƉĞŽĨƉƵďůŝĐǀŝĞǁƐŽŶĂŝƌƉŽƌƚƐĂƐǁĞůůĂƐŐĂƚŚĞƌŝŶŐŽƉŝŶŝŽŶƐŽŶƐŽŵĞŽĨƚŚĞĐƌŝƟĐĂůƋƵĞƐƟŽŶƐƐƵƌƌŽƵŶĚŝŶŐƚŚĞŝƌĨƵƚƵƌĞ͘EĂŵĞůLJ ƐŚŽƵůĚƚŚĞĂŝƌƉŽƌƚďĞĐŽŶŶĞĐƚĞĚƚŽŝƚƐůŽĐĂůƌĞŐŝŽŶ͕ƚŚĞŶƐŚŽƵůĚƚŚĞĂŝƌƉŽƌƚďĞŽƉĞŶĞĚƵƉĂƐĂĐŝƚLJǁŝĚĞĚĞƐƟŶĂƟŽŶƚŽƚŚĞƉƵďůŝĐ΀ŽƌŶŽŶͲ ƉĂƐƐĞŶŐĞƌƐ΁͕ĂŶĚĮŶĂůůLJƐŚŽƵůĚƚŚĞĂŝƌƉŽƌƚďĞĐŽŵĞĂĨŽƌƵŵŽĨƐŽĐŝĂůŶĞƚǁŽƌŬŝŶŐ͍^LJŶƚŚĞƐŝnjŝŶŐƚŚĞƐĞƌĞƐƉŽŶƐĞƐǁŝƚŚĚŝīĞƌĞŶƚƌĞĂĚŝŶŐƐŽŶ ĂŝƌƉŽƌƚƐĂƐǁĞůůĂƐĂǀĂƌŝĞƚLJŽĨŽďƐĞƌǀĂƟŽŶƐĂĨƌĂŵĞǁŽƌŬĨŽƌĂŶĂůLJnjŝŶŐĂŶĚĚĞƐŝŐŶŝŶŐƚŚĞƐĞĞŶǀŝƌŽŶŵĞŶƚƐĞŵĞƌŐĞĚ͘LJĐŽŶƐŝĚĞƌŝŶŐĞĂƌůŝĞƌ ŵŽĚĞůƐŝŶĂŶĂƩĞŵƉƚƚŽƵŶĚĞƌƐƚĂŶĚƚŚĞĞǀŽůƵƟŽŶŽĨĂŝƌƉŽƌƚƚLJƉŽůŽŐŝĞƐĂŶĚƚŚĞŝƌĐŽŶŶĞĐƟŽŶƚŽƚŚĞƵƌďĂŶůĂŶĚƐĐĂƉĞƚŚĞĐŽŶĐĞƉƚĂŶƚŚƌŽ- ƉŽƌƚƐĐĂƉĞǁĂƐĚĞǀĞůŽƉĞĚ͘dŚĞĂŶƚŚƌŽƉŽƌƚƐĐĂƉĞŝƐƚŚĞĚĞŵŽĐƌĂƟĐ͕ƌĞƐŝůŝĞŶƚ͕ŽƌŐĂŶŝĐ͕ĂŶĚƐƵƐƚĂŝŶĂďůĞƉƌŽŐƌĞƐƐŝǀĞĞǀŽůƵƟŽŶĂƌLJƉĂƚŚǁĂLJŽĨ ƚŚĞĂŝƌƉŽƌƚ͘ƐƚŚĞĨŽĐƵƐŽĨƚŚŝƐŚŽŶŽƌƐƚŚĞƐŝƐŝŶǀĞƐƟŐĂƟŽŶĂƉƉůLJŝŶŐƚŚŝƐƵƌďĂŶĚĞƐŝŐŶĨƌĂŵĞǁŽƌŬƚŽƚŚĞƐŽƵƚŚĞƌŶ/ŶĚŝĂŶĐŝƚLJŽĨ,LJĚĞƌĂďĂĚ LJŝĞůĚĞĚŵĂŶLJĨƌƵŝƞƵůƐƉĞĐƵůĂƟŽŶƐĨŽƌƐƵƐƚĂŝŶĂďůĞĚĞǀĞůŽƉŵĞŶƚŽĨƚŚĞĐŝƚLJĂŶĚƌĞŐŝŽŶ͘dŚŝƐĨƵƌƚŚĞƌƌĞŝŶĨŽƌĐĞĚƚŚĞĐŽŶĐůƵƐŝŽŶƚŚĂƚĂŝƌƉŽƌƚƐ ĐĂŶĚƌŝǀĞƐƵƐƚĂŝŶĂďůĞƵƌďĂŶĚĞǀĞůŽƉŵĞŶƚ͘>ĂŶĚƐĐĂƉĞĂƌĐŚŝƚĞĐƚƐŵĞĚŝĂƟŶŐďĞƚǁĞĞŶŵƵůƟƉůĞƐĐĂůĞƐŽĨĚĞǀĞůŽƉŵĞŶƚǁŝůůƉůĂLJĂĐƌŝƟĐĂůƌŽůĞ ŝŶĂŝƌƉŽƌƚĚĞƐŝŐŶ͘dŚŝƐŶĞǁƉĂƌĂĚŝŐŵŽĨĚĞƐŝŐŶǁŝůůŝŶǀŽůǀĞĂďƌŽĂĚĞƌƐƉĞĐƚƌƵŵŽĨĚĞƐŝŐŶĞƌƐ͕ƉůĂŶŶĞƌƐ͕ĂŶĚƚŚŝŶŬĞƌƐ͘ŝƌƉŽƌƚƐĂƌĞĂŵĂnjŝŶŐ ĚĞƐƟŶĂƟŽŶƐƚŚĂƚŚĂǀĞƚŚĞƉŽǁĞƌƚŽĐĂƚĂůLJnjĞƚŚĞŚƵŵĂŶƐƉŝƌŝƚƚŽǁĂƌĚƐŵĂŬŝŶŐĂďƌŝŐŚƚĞƌĨƵƚƵƌĞ͘ 15 Introduction ͞ŝƟĞƐĂƌĞĨŽƌƚŚĞĨĂĐĞͲƚŽͲĨĂĐĞŵĞĞƟŶŐŽĨƉĞŽƉůĞ͕ĨŽƌƚŚĞĞdžĐŚĂŶŐĞŽĨŝĚĞĂƐĂŶĚƚŚĞƉƵƌƉŽƐĞŽĨƚƌĂĚĞ͘dŚĞLJďƌŝŶŐĂĚŝǀĞƌƐĞŶƵŵďĞƌŽĨ ƉĞŽƉůĞƚŽŐĞƚŚĞƌŝŶƐŚĂƌĞĚƐƉĂĐĞƐǁŝƚŚĂĐĐĞƐƐƚŽĂǁŝĚĞƌĂŶŐĞŽĨƉƵďůŝĐĂŵĞŶŝƟĞƐ͘dŚĞLJĂƌĞƚŚĞŚĞĂƌƚŽĨŽƵƌĐƵůƚƵƌĞĂŶĚĞŶŐŝŶĞƐƚŚĂƚĚƌŝǀĞ ŽƵƌĞĐŽŶŽŵLJ͘dŚĞŵĂŝŶƚĂŝŶƋƵĂůŝƚLJŽĨůŝĨĞ͕ĐŝƟĞƐƐŚŽƵůĚďĞƐŽĐŝĂůůLJŝŶĐůƵƐŝǀĞ͕ĞŶǀŝƌŽŶŵĞŶƚĂůůLJĞīĞĐƟǀĞĂŶĚǁĞůůĚĞƐŝŐŶĞĚ͘͟ʹZŝĐŚĂƌĚZŽŐ- ĞƌƐ;ůĂŝĞŶŶĂůĞĚŝsĞŶĞnjŝĂ͕Ɖ͘ϴϮͿ ƚƚŚĞĚĂǁŶŽĨƚŚĞϮϭƐƚĐĞŶƚƵƌLJ͕ƚǁŽĨŽƌĐĞƐƐĞĞŵƚŽďĞƉĞƌŵĞĂƟŶŐĂůůƚLJƉĞƐŽĨĚŝƐĐŽƵƌƐĞ͕ĐŝƟĞƐĂŶĚŐůŽďĂůŝnjĂƟŽŶ͘ƵƌƌĞŶƚůLJŵŽƌĞƚŚĂŶ ŚĂůĨŽĨƚŚĞǁŽƌůĚ͛ƐƉŽƉƵůĂƟŽŶůŝǀĞƐŝŶĐŝƟĞƐ͕ĂŶĚƚŚĞLJŐƌŽǁďLJϭϴϬ͕ϬϬϬƉĞŽƉůĞĚĂŝůLJ͘;:ĂŶƐƐĞŶƐ͕ϮϬϬϴ͕Ɖ͘ϭϬϲͿLJϮϬϱϬ͕ĐŝƟĞƐǁŝůůƐǁĞůůƚŽ ĞŶĐŽŵƉĂƐƐŽǀĞƌƚǁŽͲƚŚŝƌĚƐŽĨĂůůŚƵŵĂŶŝƚLJ͘dŚĞƐĞŚƵďƐŽĨŚƵŵĂŶĂĐƟǀŝƚLJĂƌĞƚŚĞŬĞLJŶŽĚĞƐŽŶƚŚĞƉůĂŶĞƚĂŶĚŵŽƐƚƉĞŽƉůĞĂĐƚƵĂůůLJƚŚŝŶŬ ŽĨƚŚĞǁŽƌůĚĂƐĂŶĞƚǁŽƌŬŽĨĐŝƟĞƐ͕ŶŽƚĐŽƵŶƚƌŝĞƐ͘;ϭϵϮϬϮϭ͕ϮϬϬϵͿdŚĞLJĂƌĞƚŚĞůLJŶĐŚƉŝŶƐĂŶĚĚƌŝǀĞƌƐŽĨŐůŽďĂůŶĞƚǁŽƌŬƐĂŶĚƚƌĂŶƐĂĐƟŽŶƐ͘ ŝƌĞĐƚůLJƟĞĚƚŽƚŚĞŐƌŽǁŝŶŐŶĞƚǁŽƌŬƐŽĨŐůŽďĂůŝnjĂƟŽŶŝƐŐůŽďĂůŵŽďŝůŝƚLJ͘;WĂƌŬĞƌ͕ϮϬϬϮͿ͞dŚĞŵĂƚĞƌŝĂůƉƌŽĐĞƐƐĞƐŽĨŐůŽďĂůŝnjĂƟŽŶĂƌĞďŽƚŚ ĞŶĂďůĞĚďLJ͕ĂŶĚƉůĂĐĞĞǀĞƌͲŐƌŽǁŝŶŐĚĞŵĂŶĚƐŽŶ͕ƚŚĞƉƌŽǀŝƐŝŽŶŽĨƚƌĂŶƐƉŽƌƚĂƟŽŶŝŶĨƌĂƐƚƌƵĐƚƵƌĞĂŶĚƚĞĐŚŶŽůŽŐLJ͕ƉĂƌƟĐƵůĂƌůLJŝŶŵĂũŽƌĐŝƟĞƐ ƚŚĂƚĨƵŶĐƟŽŶĂƐŶŽĚĞƐŝŶŐůŽďĂůŶĞƚǁŽƌŬƐ͘͟;ŝĚĞůů͕ϮϬϬϲͿdŚĞŐůŽďĂůŶĂƚƵƌĞŽĨƚŚĞǁŽƌůĚŶŽǁŵĞĂŶƐƚŚĂƚĂŶLJĐŚĂŶŐĞƐŽƌƉŽůŝĐŝĞƐĂƌĞŶŽƚ ũƵƐƚůŽĐĂůŝnjĞĚďƵƚǁŝůůƌŝƉƉůĞƌĂƉŝĚůLJĂĐƌŽƐƐƚŚĞƉůĂŶĞƚ͘;^ĐŚǁĂŝŐĞƌΘZĂƉƉĞƚ͘Ăů͕͘ϮϬϬϳͿŽŶĐƵƌƌĞŶƚůLJƚŚĞƌĞŝƐĂƐƚƌŽŶŐƵŶĚĞƌƐƚĂŶĚŝŶŐƚŚĂƚ ƚŚĞLJŬĞLJƚŽĂƐƵƐƚĂŝŶĂďůĞĨƵƚƵƌĞŝƐůŝǀŝŶŐůŽĐĂůůLJ͘/ŶƐƚĞĂĚŽĨĚƌĂǁŝŶŐŽƵƌƌĞƐŽƵƌĐĞƐĨƌŽŵĂĐƌŽƐƐƚŚĞŐůŽďĞ͕ǁĞŶĞĞĚƚŽďĞƌĞƐŝůŝĞŶƚǁŝƚŚŝŶŽƵƌ ŽǁŶƌĞŐŝŽŶƐĂŶĚĚƌĂǁĂůůŽƵƌĨŽŽĚ͕ƉŽǁĞƌ͕ĂŶĚŽƚŚĞƌƌĞƐŽƵƌĐĞƐĨƌŽŵƐŵĂůůĞƌƌĂĚŝŝĨƌŽŵǁŚĞƌĞǁĞůŝǀĞ͘;dƵŵďĞƌ͕ϮϬϬϵͿƐĂƌĞƐƵůƚŽĨƚŚĞƐĞ ƉƌĞƐƐƵƌĞƐ͕ƚŚĞƌĞŝƐƚŚĞŶĞĞĚĨŽƌůŽĐĂůĂĐƟŽŶŽŶĂŐůŽďĂůƐĐĂůĞ͘ tŚĂƚŝƐƚŚĞŽŶĞƉůĂĐĞƚŚĂƚůŝŶŬƐƚŚĞůŽĐĂůĂŶĚŐůŽďĂůƚŽŐĞƚŚĞƌ͍ŝƌƉŽƌƚƐ͊dŚĞLJĂƌĞƚŚĞƐŝŶŐƵůĂƌƐƚƌƵĐƚƵƌĞƚŚĂƚďƌŝĚŐĞƐƚŚŝƐĐŽŶŶĞĐƟŽŶ͘dŚĞLJ ĂƌĞƋƵŝŶƚĞƐƐĞŶƟĂůƉĂƌƚŽĨƚŚĞŐůŽďĂůĞdžĐŚĂŶŐĞŶĞƚǁŽƌŬ͕ďƵƚƐŝŵƵůƚĂŶĞŽƵƐůLJƚŚĞLJŚĂǀĞĂŚƵŐĞŝŵƉĂĐƚŽŶƚŚĞŝƌůŽĐĂůĞŶǀŝƌŽŶŵĞŶƚ͘ŝƌƉŽƌƚƐ ĂƌĞƚŚĞƉůĂĐĞƚŚĂƚŵĂŬĞƐƚŚĞƐĞŇŽǁƐƚĂŶŐŝďůĞƚŚƌŽƵŐŚƚŚĞƚƌĂŶƐĂĐƟŽŶŽĨƉĞŽƉůĞ͘ŝƟĞƐďƵŝůĚĂŝƌƉŽƌƚƐŝŶŚŽƉĞƐŽĨďĞĐŽŵŝŶŐƉĂƌƚŽĨƚŚĞ 16 ŐůŽďĂůĐůƵďŽĨǁŽƌůĚĐůĂƐƐĐŝƟĞƐ͘&ŽƌƚŚĞŵƚŽƌƵŶŚŽǁĞǀĞƌ͕ƚŚĞLJĚƌĂǁƵƉŽŶĂŚƵŐĞĂŵŽƵŶƚŽĨůŽĐĂůƌĞƐŽƵƌĐĞƐ͕ĨƌŽŵĞŶĞƌŐLJ͕ƚŽǁĂƚĞƌ͕ƚŽƚŚĞ ĐŽŵƉůŝĂŶĐĞŽĨĐŝƟnjĞŶƐĚĞĂůŝŶŐǁŝƚŚĂŝƌĐƌĂŌŶŽŝƐĞƉŽůůƵƟŽŶ͘/ƚŝƐŚŽǁĞǀĞƌĂƟŵĞǁŚĞŶĐŝƟĞƐĂƌĞƌĂƉŝĚůLJŐƌŽǁŝŶŐ͕ĂŶĚǁŝƚŚƚŚĞŝŶĐƌĞĂƐŝŶŐ ƉŽƉƵůĂƟŽŶƉƌĞƐƐƵƌĞ͕ŵĂŶLJĐŝƟĞƐĂƌĞĨĞĞůŝŶŐƚŚĞŐƌŽǁŝŶŐƉŝŶĐŚŽĨƌĞƐŽƵƌĐĞĂǀĂŝůĂďŝůŝƚLJ͘tŝƚŚƚŚĞŐƌŽǁŝŶŐƐŝnjĞĂŶĚƐĐŽƉĞŽĨĐŝƟĞƐ͕ŵĂŶLJĂƌĞ ƉƌĞƐƐƵƌĞĚƚŽĞdžƉĂŶĚƚŚĞŝƌŝŶĨƌĂƐƚƌƵĐƚƵƌĞĂƚĞǀĞƌLJůĞǀĞů͘&ƌŽŵƚŚĞŝƌůŽĐĂůƌŽĂĚƐ͕ƚŽƚŚĞůĂƌŐĞƐƚŽĨƉŽƌƚƐ͕ĞǀĞƌLJƚŚŝŶŐƐĞĞŵƐƚŽďĞĐŚĂŶŐŝŶŐ͘/Ŷ