Form 5500 Annual Return/Report of Employee Benefit Plan Department of the Treasury Internal Revenue Service This form is required to be filed for employee benefit plans under sections 104 and 4065 of the Employee Retirement Income Security Act of 1974 (ERISA) and sections 6057(b) and 6058(a) of the Internal Revenue Code (the Code). Department of Labor Employee Benefits Security Administration  Complete all entries in accordance with the instructions to the Form 5500. Annual Report Identification Information For calendar plan year 2017 or fiscal plan year beginning 01/01/2017 A B 2017 This Form is Open to Public Inspection Pension Benefit Guaranty Corporation Part I OMB Nos. 1210-0110 1210-0089 This return/report is for: This return/report is: and ending X a multiemployer plan X X X X a single-employer plan X X X the first return/report an amended return/report 12/31/2017 a multiple-employer plan (Filers checking this box must attach a list of participating employer information in accordance with the form instructions.) a DFE (specify) _C_ the final return/report a short plan year return/report (less than 12 months) C If the plan is a collectively-bargained plan, check here. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . D Check box if filing under: X X X X automatic extension X the DFVC program special extension (enter description) ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDE Form 5558 Part II Basic Plan Information—enter all requested information 1a Name of plan MOODY'S CO-WORKER OWNED EMPLOYEE STOCK OWNERSHIP PLAN ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI 1c 2a 2b Employer Identification Number (EIN) 16-1645516 012345678 2c Plan Sponsor’s telephone number 207-839-2500 0123456789 2d Business code (see instructions) 811120 012345 Plan sponsor’s name (employer, if for a single-employer plan) Mailing address (include room, apt., suite no. and street, or P.O. Box) City or town, state or province, country, and ZIP or foreign postal code (if foreign, see instructions) MOODY'S CO-WORKER OWNED,ABCDEFGHI INC. DBA MOODY'S COLLISION CENTERS ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI D/B/A ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI 200 c/oNARRAGANSETT ABCDEFGHI STREET ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI GORHAM, ME 04038 123456789 ABCDEFGHI ABCDEFGHI ABCDE 123456789 ABCDEFGHI ABCDEFGHI ABCDE CITYEFGHI ABCDEFGHI AB, ST 012345678901 UK 1b Three-digit plan 001 001 number (PN)  Effective date of plan 01/01/2003 YYYY-MM-DD Caution: A penalty for the late or incomplete filing of this return/report will be assessed unless reasonable cause is established. Under penalties of perjury and other penalties set forth in the instructions, I declare that I have examined this return/report, including accompanying schedules, statements and attachments, as well as the electronic version of this return/report, and to the best of my knowledge and belief, it is true, correct, and complete. SIGN HERE Filed with authorized/valid electronic signature. 09/04/2018 YYYY-MM-DD SHAWN MOODYABCDEFGHI ABCDEFGHI ABCDE ABCDEFGHI Signature of plan administrator Date Enter name of individual signing as plan administrator YYYY-MM-DD ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDE Signature of employer/plan sponsor Date Enter name of individual signing as employer or plan sponsor YYYY-MM-DD ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDE SIGN HERE SIGN HERE Signature of DFE Date For Paperwork Reduction Act Notice, see the Instructions for Form 5500. Enter name of individual signing as DFE Form 5500 (2017) v. 170203 Page 2 Form 5500 (2017) 3a Plan administrator’s name and address X Same as Plan Sponsor 3b Administrator’s EIN 3c Administrator’s telephone number 012345678 ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI c/o ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI 123456789 ABCDEFGHI ABCDEFGHI ABCDE 123456789 ABCDEFGHI ABCDEFGHI ABCDE CITYEFGHI ABCDEFGHI AB, ST 012345678901 UK 4 If the name and/or EIN of the plan sponsor or the plan name has changed since the last return/report filed for this plan, a c 5 6 enter the plan sponsor’s name, EIN, the plan name and the plan number from the last return/report: Sponsor’s name Plan Name 0123456789 4b EIN012345678 4d PN 012 Total number of participants at the beginning of the plan year 5 195 123456789012 Number of participants as of the end of the plan year unless otherwise stated (welfare plans complete only lines 6a(1), 6a(2), 6b, 6c, and 6d). a(1) Total number of active participants at the beginning of the plan year .................................................................................. 6a(1) 167 a(2) Total number of active participants at the end of the plan year .......................................................................................... 6a(2) 182 b Retired or separated participants receiving benefits ................................................................................................................. 6b 7 123456789012 c Other retired or separated participants entitled to future benefits ............................................................................................. 6c 22 123456789012 d Subtotal. Add lines 6a(2), 6b, and 6c........................................................................................................................................ 6d 211 123456789012 e Deceased participants whose beneficiaries are receiving or are entitled to receive benefits. .................................................. 6e 4 123456789012 f Total. Add lines 6d and 6e. ...................................................................................................................................................... 6f 215 123456789012 g Number of participants with account balances as of the end of the plan year (only defined contribution plans complete this item) .................................................................................................................................................................. 6g 203 123456789012 h Number of participants who terminated employment during the plan year with accrued benefits that were less than 100% vested .............................................................................................................................................................. Enter the total number of employers obligated to contribute to the plan (only multiemployer plans complete this item) .......... 6h 7 8 123456789012 7 8a If the plan provides pension benefits, enter the applicable pension feature codes from the List of Plan Characteristics Codes in the instructions: 2P b 9a Plan funding arrangement (check all that apply) (1) X Insurance (3) (4) a 3I If the plan provides welfare benefits, enter the applicable welfare feature codes from the List of Plan Characteristics Codes in the instructions: (2) 10 2Q X X X 9b Plan benefit arrangement (check all that apply) (1) X Insurance Code section 412(e)(3) insurance contracts (2) Trust (3) General assets of the sponsor (4) X X X Code section 412(e)(3) insurance contracts Trust General assets of the sponsor Check all applicable boxes in 10a and 10b to indicate which schedules are attached, and, where indicated, enter the number attached. (See instructions) Pension Schedules (1) X R (Retirement Plan Information) (2) X MB (Multiemployer Defined Benefit Plan and Certain Money Purchase Plan Actuarial Information) - signed by the plan actuary (3) X SB (Single-Employer Defined Benefit Plan Actuarial Information) - signed by the plan actuary b General Schedules (1) X H (Financial Information) (2) X I (Financial Information – Small Plan) (3) X (4) X C (Service Provider Information) (5) X D (DFE/Participating Plan Information) (6) X G (Financial Transaction Schedules) ___ 0 A (Insurance Information) Page 3 Form 5500 (2017) Part III Form M-1 Compliance Information (to be completed by welfare benefit plans) 11a If the plan provides welfare benefits, was the plan subject to the Form M-1 filing requirements during the plan year? (See instructions and 29 CFR 2520.101-2.) ........................………..…. X Yes X No If “Yes” is checked, complete lines 11b and 11c. 11b Is the plan currently in compliance with the Form M-1 filing requirements? (See instructions and 29 CFR 2520.101-2.) ……..... 11c Enter the Receipt Confirmation Code for the 2017 Form M-1 annual report. X Yes X No If the plan was not required to file the 2017 Form M-1 annual report, enter the Receipt Confirmation Code for the most recent Form M-1 that was required to be filed under the Form M-1 filing requirements. (Failure to enter a valid Receipt Confirmation Code will subject the Form 5500 filing to rejection as incomplete.) Receipt Confirmation Code______________________ SCHEDULE H OMB No. 1210-0110 Financial Information (Form 5500) Department of the Treasury Department of the Treasury Internal Revenue Service Department of Labor Employee Benefits Security Administration 2017 This schedule is required to be filed under section 104 of the Employee Retirement Income Security Act of 1974 (ERISA), and section 6058(a) of the Internal Revenue Code (the Code).  File as an attachment to Form 5500. Pension Benefit Guaranty Corporation For calendar plan year 2017 or fiscal plan year beginning 01/01/2017 A Name of plan MOODY'S CO-WORKER OWNED EMPLOYEE STOCK OWNERSHIP PLAN ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI and ending B ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI C Plan sponsor’s name as shown on line 2a of Form 5500 MOODY'S CO-WORKER OWNED, INC. DBA MOODY'S COLLISION CENTERS ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI D This Form is Open to Public Inspection 12/31/2017 Three-digit plan number (PN)  001 001 Employer Identification Number (EIN) 012345678 16-1645516 Part I Asset and Liability Statement 1 Current value of plan assets and liabilities at the beginning and end of the plan year. Combine the value of plan assets held in more than one trust. Report the value of the plan’s interest in a commingled fund containing the assets of more than one plan on a line-by-line basis unless the value is reportable on lines 1c(9) through 1c(14). Do not enter the value of that portion of an insurance contract which guarantees, during this plan year, to pay a specific dollar benefit at a future date. Round off amounts to the nearest dollar. MTIAs, CCTs, PSAs, and 103-12 IEs do not complete lines 1b(1), 1b(2), 1c(8), 1g, 1h, and 1i. CCTs, PSAs, and 103-12 IEs also do not complete lines 1d and 1e. See instructions. Assets a b c (a) Beginning of Year (b) End of Year 1a 2966 -123456789012345 179146 -123456789012345 (1) Employer contributions ........................................................................... 1b(1) (2) Participant contributions ......................................................................... 1b(2) (3) Other ....................................................................................................... 1b(3) -123456789012345 -123456789012345 -123456789012345 -123456789012345 -123456789012345 -123456789012345 119580 -123456789012345 -123456789012345 19620 -123456789012345 -123456789012345 -123456789012345 -123456789012345 -123456789012345 -123456789012345 -123456789012345 -123456789012345 -123456789012345 -123456789012345 -123456789012345 -123456789012345 -123456789012345 -123456789012345 -123456789012345 -123456789012345 Total noninterest-bearing cash ....................................................................... Receivables (less allowance for doubtful accounts): General investments: (1) Interest-bearing cash (include money market accounts & certificates of deposit) ............................................................................................. (2) U.S. Government securities .................................................................... 1c(1) 1c(2) (3) Corporate debt instruments (other than employer securities): (A) Preferred .......................................................................................... 1c(3)(A) (B) All other ............................................................................................ 1c(3)(B) (4) Corporate stocks (other than employer securities): (A) Preferred .......................................................................................... 1c(4)(A) (B) Common .......................................................................................... 1c(4)(B) (5) Partnership/joint venture interests .......................................................... 1c(5) (6) Real estate (other than employer real property) ..................................... 1c(6) (7) Loans (other than to participants) ........................................................... 1c(7) (8) Participant loans ..................................................................................... 1c(8) (9) Value of interest in common/collective trusts .......................................... 1c(9) (10) Value of interest in pooled separate accounts ........................................ 1c(10) (11) Value of interest in master trust investment accounts ............................ 1c(11) (12) Value of interest in 103-12 investment entities ....................................... (13) Value of interest in registered investment companies (e.g., mutual funds) ...................................................................................... (14) Value of funds held in insurance company general account (unallocated contracts) ................................................................................................ 1c(12) -123456789012345 -123456789012345 -123456789012345 -123456789012345 -123456789012345 -123456789012345 -123456789012345 -123456789012345 -123456789012345 -123456789012345 1c(13) -123456789012345 -123456789012345 1c(14) -123456789012345 -123456789012345 (15) Other ....................................................................................................... 1c(15) -123456789012345 -123456789012345 For Paperwork Reduction Act Notice, see the Instructions for Form 5500. Schedule H (Form 5500) 2017 v.170203 Page 2 Schedule H (Form 5500) 2017 1d 1e 1f Employer-related investments: (a) Beginning of Year (b) End of Year (1) Employer securities .................................................................................. 1d(1) 6999354 -123456789012345 (2) Employer real property ............................................................................. 1d(2) Buildings and other property used in plan operation ....................................... 1e Total assets (add all amounts in lines 1a through 1e)..................................... 1f -123456789012345 -123456789012345 7121900 -123456789012345 8481092 -123456789012345 -123456789012345 -123456789012345 8679858 -123456789012345 -123456789012345 -123456789012345 -123456789012345 0 -123456789012345 0 -123456789012345 8679858 -123456789012345 Liabilities Benefit claims payable .................................................................................... 1g Operating payables ......................................................................................... 1h Acquisition indebtedness ................................................................................ 1i Other liabilities ................................................................................................. 1j Total liabilities (add all amounts in lines 1g through1j).................................... 1k -123456789012345 -123456789012345 -123456789012345 0 -123456789012345 0 -123456789012345 1l 7121900 -123456789012345 1g 1h 1i 1j 1k 1l Net assets (subtract line 1k from line 1f) ......................................................... Net Assets Part II Income and Expense Statement 2 Plan income, expenses, and changes in net assets for the year. Include all income and expenses of the plan, including any trust(s) or separately maintained fund(s) and any payments/receipts to/from insurance carriers. Round off amounts to the nearest dollar. MTIAs, CCTs, PSAs, and 103-12 IEs do not complete lines 2a, 2b(1)(E), 2e, 2f, and 2g. Income a (a) Amount (1) Received or receivable in cash from: (A) Employers ................................ 2a(1)(A) (B) Participants ....................................................................................... 2a(1)(B) (C) Others (including rollovers) ............................................................... 2a(1)(C) b (b) Total Contributions: (2) Noncash contributions .............................................................................. 2a(2) (3) Total contributions. Add lines 2a(1)(A), (B), (C), and line 2a(2) ............... 2a(3) 305000 -123456789012345 -123456789012345 -123456789012345 -123456789012345 305000 -123456789012345 Earnings on investments: (1) Interest: (A) Interest-bearing cash (including money market accounts and 2b(1)(A) certificates of deposit) ....................................................................... (B) U.S. Government securities .............................................................. 2b(1)(B) (C) Corporate debt instruments............................................................... 2b(1)(C) (D) Loans (other than to participants) ..................................................... 2b(1)(D) (E) Participant loans................................................................................ 2b(1)(E) (F) Other ................................................................................................. 2b(1)(F) -123456789012345 40 -123456789012345 -123456789012345 -123456789012345 -123456789012345 -123456789012345 40 -123456789012345 (G) Total interest. Add lines 2b(1)(A) through (F) ................................... 2b(1)(G) (2) Dividends: (A) Preferred stock .................................................................. 2b(2)(A) (B) Common stock .................................................................................. 2b(2)(B) -123456789012345 -123456789012345 (C) Registered investment company shares (e.g. mutual funds) ............ 2b(2)(C) (D) Total dividends. Add lines 2b(2)(A), (B), and (C) (3) Rents ......................................................................................................... 0 -123456789012345 -123456789012345 2b(2)(D) 2b(3) (4) Net gain (loss) on sale of assets: (A) Aggregate proceeds ..................... 2b(4)(A) (B) Aggregate carrying amount (see instructions) .................................. 2b(4)(B) -123456789012345 -123456789012345 (C) Subtract line 2b(4)(B) from line 2b(4)(A) and enter result ................ 2b(4)(C) (5) Unrealized appreciation (depreciation) of assets: (A) Real estate....................... 2b(5)(A) (B) Other ................................................................................................. 2b(5)(B) (C) Total unrealized appreciation of assets. 2b(5)(C) Add lines 2b(5)(A) and (B) ................................................................ 0 -123456789012345 -123456789012345 1481738 -123456789012345 1481738 -123456789012345 Page 3 Schedule H (Form 5500) 2017 (a) Amount c d (6) Net investment gain (loss) from common/collective trusts ......................... 2b(6) (7) Net investment gain (loss) from pooled separate accounts ....................... 2b(7) (b) Total (8) Net investment gain (loss) from master trust investment accounts ........... 2b(8) (9) Net investment gain (loss) from 103-12 investment entities ...................... (10) Net investment gain (loss) from registered investment companies (e.g., mutual funds) .................................................................. 2b(9) -123456789012345 -123456789012345 -123456789012345 -123456789012345 2b(10) -123456789012345 Other income .................................................................................................... 2c Total income. Add all income amounts in column (b) and enter total ..................... 2d -123456789012345 -123456789012345 1786778 Expenses e f g h i Benefit payment and payments to provide benefits: (1) Directly to participants or beneficiaries, including direct rollovers.............. 2e(1) (2) To insurance carriers for the provision of benefits ..................................... 2e(2) (3) Other .......................................................................................................... 2e(3) (4) Total benefit payments. Add lines 2e(1) through (3) .................................. 2e(4) -123456789012345 228820 Corrective distributions (see instructions) ........................................................ 2f Certain deemed distributions of participant loans (see instructions) ................ 2g Interest expense ............................................................................................... 2h -123456789012345 -123456789012345 -123456789012345 Administrative expenses: (1) Professional fees .............................................. 2i(1) (2) Contract administrator fees ........................................................................ 2i(2) (3) Investment advisory and management fees .............................................. 2i(3) (4) Other .......................................................................................................... 2i(4) -123456789012345 228820 -123456789012345 -123456789012345 -123456789012345 -123456789012345 -123456789012345 -123456789012345 (5) Total administrative expenses. Add lines 2i(1) through (4) ......................... 2i(5) j Total expenses. Add all expense amounts in column (b) and enter total........ 2j -123456789012345 0 -123456789012345 228820 k l Net income (loss). Subtract line 2j from line 2d ............................................................. 2k -123456789012345 1557958 (1) To this plan ................................................................................................. 2l(1) (2) From this plan ............................................................................................ 2l(2) -123456789012345 -123456789012345 Net Income and Reconciliation Transfers of assets: Part III Accountant’s Opinion 3 Complete lines 3a through 3c if the opinion of an independent qualified public accountant is attached to this Form 5500. Complete line 3d if an opinion is not attached. a The attached opinion of an independent qualified public accountant for this plan is (see instructions): (1) X Unqualified (2) X Qualified (3) X Disclaimer (4) X Adverse X X Yes b Did the accountant perform a limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)? c Enter the name and EIN of the accountant (or accounting firm) below: (1) Name: BAKER ABCDEFGHI ABCDEFGHI ABCD (2) EIN: 123456789 NEWMANABCDEFGHI NOYES 01-0494526 d The opinion of an independent qualified public accountant is not attached because: (2) X It will be attached to the next Form 5500 pursuant to 29 CFR 2520.104-50. (1) X This form is filed for a CCT, PSA, or MTIA. Part IV Compliance Questions 4 CCTs and PSAs do not complete Part IV. MTIAs, 103-12 IEs, and GIAs do not complete lines 4a, 4e, 4f, 4g, 4h, 4k, 4m, 4n, or 5. 103-12 IEs also do not complete lines 4j and 4l. MTIAs also do not complete line 4l. During the plan year: a b Yes Was there a failure to transmit to the plan any participant contributions within the time period described in 29 CFR 2510.3-102? Continue to answer “Yes” for any prior year failures until fully corrected. (See instructions and DOL’s Voluntary Fiduciary Correction Program.)..................... 4a Were any loans by the plan or fixed income obligations due the plan in default as of the close of the plan year or classified during the year as uncollectible? Disregard participant loans secured by participant’s account balance. (Attach Schedule G (Form 5500) Part I if “Yes” is checked.) ............................................................................................................................................ 4b No X X Amount No Page 4- 1 1 Schedule H (Form 5500) 2017 x Yes No Amount c Were any leases to which the plan was a party in default or classified during the year as uncollectible? (Attach Schedule G (Form 5500) Part II if “Yes” is checked.) ....................................... 4c X -123456789012345 d Were there any nonexempt transactions with any party-in-interest? (Do not include transactions reported on line 4a. Attach Schedule G (Form 5500) Part III if “Yes” is checked.) ............................................................................................................................................... 4d X -123456789012345 Was this plan covered by a fidelity bond? ............................................................................................. 4e Did the plan have a loss, whether or not reimbursed by the plan’s fidelity bond, that was caused by fraud or dishonesty? ............................................................................................................................. 4f X -123456789012345 Did the plan hold any assets whose current value was neither readily determinable on an established market nor set by an independent third party appraiser? .................................................. 4g X -123456789012345 4h X -123456789012345 e f g h i Did the plan receive any noncash contributions whose value was neither readily determinable on an established market nor set by an independent third party appraiser?................... X 750000 -123456789012345 Did the plan have assets held for investment? (Attach schedule(s) of assets if “Yes” is checked, and see instructions for format requirements.) ............................................................................................. 4i Were any plan transactions or series of transactions in excess of 5% of the current value of plan assets? (Attach schedule of transactions if “Yes” is checked, and see instructions for format requirements.) ............................................................................................. 4j X k Were all the plan assets either distributed to participants or beneficiaries, transferred to another plan, or brought under the control of the PBGC? .................................................................................. 4k X l m Has the plan failed to provide any benefit when due under the plan? .................................................. 4l X If this is an individual account plan, was there a blackout period? (See instructions and 29 CFR 2520.101-3.) .......................................................................................................................................... 4m X If 4m was answered “Yes,” check the “Yes” box if you either provided the required notice or one of the exceptions to providing the notice applied under 29 CFR 2520.101-3. .......................................... 4n j n X -123456789012345 5a Has a resolution to terminate the plan been adopted during the plan year or any prior plan year?........ X Yes X No If “Yes,” enter the amount of any plan assets that reverted to the employer this year ____________________________________. 5b If, during this plan year, any assets or liabilities were transferred from this plan to another plan(s), identify the plan(s) to which assets or liabilities were transferred. (See instructions.) 5b(1) Name of plan(s) ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI 5c If the plan is a defined benefit plan, is it covered under the PBGC insurance program (See ERISA section 4021.)? ...... X 5b(2) EIN(s) 5b(3) PN(s) 123456789 123 123456789 123 123456789 123 123456789 123 Yes X No X Not determined If “Yes” is checked, enter the My PAA confirmation number from the PBGC premium filing for this plan year________________________. (See instructions.) SCHEDULE R OMB No. 1210-0110 Retirement Plan Information (Form 5500) Department of the Treasury Internal Revenue Service Department of Labor Employee Benefits Security Administration Pension Benefit Guaranty Corporation This Form is Open to Public Inspection.  File as an attachment to Form 5500. For calendar plan year 2017 or fiscal plan year beginning and ending 01/01/2017 A Name of plan MOODY'S CO-WORKER OWNED EMPLOYEE STOCK OWNERSHIP PLAN ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI C Plan sponsor’s name as shown on line 2a of Form 5500 MOODY'S CO-WORKER OWNED, INC. DBA MOODY'S COLLISION CENTERS ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI ABCDEFGHI Part I 2017 This schedule is required to be filed under sections 104 and 4065 of the Employee Retirement Income Security Act of 1974 (ERISA) and section 6058(a) of the Internal Revenue Code (the Code). B D 12/31/2017 Three-digit plan number  (PN) 001 001 Employer Identification Number (EIN) 012345678 16-1645516 Distributions All references to distributions relate only to payments of benefits during the plan year. 1 Total value of distributions paid in property other than in cash or the forms of property specified in the instructions ............................................................................................................................................................... 2 1 0 -123456789012345 Enter the EIN(s) of payor(s) who paid benefits on behalf of the plan to participants or beneficiaries during the year (if more than two, enter EINs of the two payors who paid the greatest dollar amounts of benefits): EIN(s): 33-6134835 _______________________________ _______________________________ Profit-sharing plans, ESOPs, and stock bonus plans, skip line 3. 3 Number of participants (living or deceased) whose benefits were distributed in a single sum, during the plan year ........................................................................................................................................................................... Part II 4 3 12345678 Funding Information (If the plan is not subject to the minimum funding requirements of section 412 of the Internal Revenue Code or ERISA section 302, skip this Part.) Is the plan administrator making an election under Code section 412(d)(2) or ERISA section 302(d)(2)? .......................... X X Yes No X N/A If the plan is a defined benefit plan, go to line 8. 5 If a waiver of the minimum funding standard for a prior year is being amortized in this plan year, see instructions and enter the date of the ruling letter granting the waiver. Date: Month _________ Day _________ Year _________ If you completed line 5, complete lines 3, 9, and 10 of Schedule MB and do not complete the remainder of this schedule. 6 a Enter the minimum required contribution for this plan year (include any prior year accumulated funding deficiency not waived) ....................................................................................................................................... 6a -123456789012345 b Enter the amount contributed by the employer to the plan for this plan year ..................................................... 6b -123456789012345 c Subtract the amount in line 6b from the amount in line 6a. Enter the result (enter a minus sign to the left of a negative amount) ......................................................................................... 6c -123456789012345 If you completed line 6c, skip lines 8 and 9. 7 Will the minimum funding amount reported on line 6c be met by the funding deadline? ............................................ X Yes X No X N/A 8 If a change in actuarial cost method was made for this plan year pursuant to a revenue procedure or other authority providing automatic approval for the change or a class ruling letter, does the plan sponsor or plan administrator agree with the change? ....................................................................................................................... X Yes X No X N/A Part III 9 Amendments If this is a defined benefit pension plan, were any amendments adopted during this plan year that increased or decreased the value of benefits? If yes, check the appropriate box. If no, check the “No” box. .............................................................................................. Part IV 10 Increase X Decrease X X Both No (see instructions). If this is not a plan described under section 409(a) or 4975(e)(7) of the Internal Revenue Code, skip this Part. X Yes X No Does the ESOP hold any preferred stock? .................................................................................................................................... X Yes X No If the ESOP has an outstanding exempt loan with the employer as lender, is such loan part of a “back-to-back” loan? (See instructions for definition of “back-to-back” loan.) .................................................................................................................. X Yes X No Does the ESOP hold any stock that is not readily tradable on an established securities market? ........................................................ X Yes X No Were unallocated employer securities or proceeds from the sale of unallocated securities used to repay any exempt loan?................. 11 a b 12 ESOPs X For Paperwork Reduction Act Notice, see the Instructions for Form 5500. Schedule R (Form 5500) 2017 v. 170203 Page 2 Schedule R (Form 5500) 2017 - 11 x Part V Additional Information for Multiemployer Defined Benefit Pension Plans 13 Enter the following information for each employer that contributed more than 5% of total contributions to the plan during the plan year (measured in dollars). See instructions. Complete as many entries as needed to report all applicable employers. a Name of contributing employer b EIN d Date collective bargaining agreement expires (If employer contributes under more than one collective bargaining agreement, check box X and see instructions regarding required attachment. Otherwise, enter the applicable date.) Month _______ Day _______ Year _______ e Contribution rate information (If more than one rate applies, check this box X and see instructions regarding required attachment. Otherwise, complete lines 13e(1) and 13e(2).) (1) Contribution rate (in dollars and cents) _____________ (2) Base unit measure: X Hourly X Weekly X Unit of production X Other (specify): a b Name of contributing employer EIN c c Dollar amount contributed by employer Dollar amount contributed by employer d Date collective bargaining agreement expires (If employer contributes under more than one collective bargaining agreement, check box X and see instructions regarding required attachment. Otherwise, enter the applicable date.) Month _______ Day _______ Year _______ e Contribution rate information (If more than one rate applies, check this box X and see instructions regarding required attachment. Otherwise, complete lines 13e(1) and 13e(2).) (1) Contribution rate (in dollars and cents) _____________ X Weekly X Unit of production X Other (specify): _______________________________ (2) Base unit measure: X Hourly a b Name of contributing employer EIN c Dollar amount contributed by employer d Date collective bargaining agreement expires (If employer contributes under more than one collective bargaining agreement, check box X and see instructions regarding required attachment. Otherwise, enter the applicable date.) Month _______ Day _______ Year _______ e Contribution rate information (If more than one rate applies, check this box X and see instructions regarding required attachment. Otherwise, complete lines 13e(1) and 13e(2).) (1) Contribution rate (in dollars and cents) _____________ (2) Base unit measure: X Hourly X Weekly X Unit of production X Other (specify): _______________________________ a b Name of contributing employer d Date collective bargaining agreement expires (If employer contributes under more than one collective bargaining agreement, check box X and see instructions regarding required attachment. Otherwise, enter the applicable date.) Month _______ Day _______ Year _______ e Contribution rate information (If more than one rate applies, check this box X and see instructions regarding required attachment. Otherwise, complete lines 13e(1) and 13e(2).) (1) Contribution rate (in dollars and cents) _____________ (2) Base unit measure: X Hourly X Weekly X Unit of production X Other (specify): _______________________________ a b Name of contributing employer d Date collective bargaining agreement expires (If employer contributes under more than one collective bargaining agreement, check box X and see instructions regarding required attachment. Otherwise, enter the applicable date.) Month _______ Day _______ Year _______ e Contribution rate information (If more than one rate applies, check this box X and see instructions regarding required attachment. Otherwise, complete lines 13e(1) and 13e(2).) (1) Contribution rate (in dollars and cents) _____________ (2) Base unit measure: X Hourly X Weekly X Unit of production X Other (specify): _______________________________ a b Name of contributing employer d Date collective bargaining agreement expires (If employer contributes under more than one collective bargaining agreement, check box X and see instructions regarding required attachment. Otherwise, enter the applicable date.) Month _______ Day _______ Year _______ e Contribution rate information (If more than one rate applies, check this box X and see instructions regarding required attachment. Otherwise, complete lines 13e(1) and 13e(2).) (1) Contribution rate (in dollars and cents) _____________ (2) Base unit measure: X Hourly X Weekly X Unit of production X Other (specify): _______________________________ EIN EIN EIN c c c Dollar amount contributed by employer Dollar amount contributed by employer Dollar amount contributed by employer Page 3 Schedule R (Form 5500) 2017 14 Enter the number of participants on whose behalf no contributions were made by an employer as an employer of the participant for: a b c 15 14a The plan year immediately preceding the current plan year ................................................................................. 14b 14c The second preceding plan year .......................................................................................................................... 123456789012345 123456789012345 15a 15b 123456789012345 123456789012345 Enter the number of employers who withdrew during the preceding plan year ................................................. 16a 123456789012345 If line 16a is greater than 0, enter the aggregate amount of withdrawal liability assessed or estimated to be assessed against such withdrawn employers ...................................................................................................... 16b The corresponding number for the plan year immediately preceding the current plan year ................................ The corresponding number for the second preceding plan year .......................................................................... Information with respect to any employers who withdrew from the plan during the preceding plan year: a b 17 The current year ................................................................................................................................................... Enter the ratio of the number of participants under the plan on whose behalf no employer had an obligation to make an employer contribution during the current plan year to: a b 16 123456789012345 123456789012345 If assets and liabilities from another plan have been transferred to or merged with this plan during the plan year, check box and see instructions regarding supplemental information to be included as an attachment. ....................................................................................................................... X Part VI Additional Information for Single-Employer and Multiemployer Defined Benefit Pension Plans 18 If any liabilities to participants or their beneficiaries under the plan as of the end of the plan year consist (in whole or in part) of liabilities to such participants and beneficiaries under two or more pension plans as of immediately before such plan year, check box and see instructions regarding supplemental information to be included as an attachment ............................................................................................................................................................................ X 19 If the total number of participants is 1,000 or more, complete lines (a) through (c) a Enter the percentage of plan assets held as: Stock: _____% Investment-Grade Debt: _____% High-Yield Debt: _____% b X c Real Estate: _____% Other: _____% Provide the average duration of the combined investment-grade and high-yield debt: 0-3 years X 3-6 years X 6-9 years X 9-12 years X 12-15 years X 15-18 years What duration measure was used to calculate line 19(b)? X Effective duration X Macaulay duration X Modified duration X Other (specify): X 18-21 years X 21 years or more Moody’s Co-Worker Owned Employee Stock Ownership Plan Financial Statements and Schedule Years Ended December 31, 2017 and 2016 With Independent Auditors’ Report INDEPENDENT AUDITORS’ REPORT The Plan Administrator and Participants Moody’s Co-Worker Owned Employee Stock Ownership Plan We have audited the accompanying financial statements of Moody’s Co-Worker Owned Employee Stock Ownership Plan (the Plan), which comprise the statements of net assets available for benefits as of December 31, 2017 and 2016, the related statement of changes in net assets available for benefits for the year ended December 31, 2017, and the related notes to the financial statements. Management’s Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error. Auditors’ Responsibility Our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditors’ judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Opinion In our opinion, the financial statements referred to above present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2017 and 2016, and the changes in net assets available for benefits for the year ended December 31, 2017, in accordance with accounting principles generally accepted in the United States of America. 1 The Plan Administrator and Participants Moody’s Co-Worker Owned Employee Stock Ownership Plan Other Matter – Report on Supplementary Information Our audits were conducted for the purpose of forming an opinion on the financial statements as a whole. The supplemental schedule of assets held (at end of year) as of December 31, 2017 is presented for the purpose of additional analysis and is not a required part of the financial statements but is supplementary information required by the United States Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. Such information is the responsibility of the Plan’s management and was derived from and relates directly to the underlying accounting and other records used to prepare the financial statements. The information has been subjected to the auditing procedures applied in the audits of the financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the financial statements or to the financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the information is fairly stated in all material respects in relation to the financial statements as a whole. Portland, Maine August 23, 2018 2 MOODY’S CO-WORKER OWNED EMPLOYEE STOCK OWNERSHIP PLAN STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS December 31, 2017 and 2016 Assets: Cash Investment in Moody’s Co-Worker Owned common stock, at fair value Total assets Net assets available for benefits See accompanying notes. 3 2017 2016 $ 198,766 $ 122,546 8,481,092 6,999,354 8,679,858 7,121,900 $ 8,679,858 $ 7,121,900 MOODY’S CO-WORKER OWNED EMPLOYEE STOCK OWNERSHIP PLAN STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS Year ended December 31, 2017 Additions to net assets attributable to: Investment income: Net appreciation in the fair value of Moody’s Co-Worker Owned common stock Employer contributions Interest $ 1,481,738 305,000 40 Total additions 1,786,778 Distributions to participants 228,820 Total deductions 228,820 Net increase 1,557,958 Net assets available for benefits, beginning of year 7,121,900 Net assets available for benefits, end of year $ 8,679,858 See accompanying notes. 4 MOODY’S CO-WORKER OWNED EMPLOYEE STOCK OWNERSHIP PLAN NOTES TO FINANCIAL STATEMENTS December 31, 2017 and 2016 1. Plan Description and Basis of Presentation The following brief description of the Moody’s Co-Worker Owned Employee Stock Ownership Plan (the Plan) is provided for general information purposes only. Participants should refer to the Plan Document for complete information. Moody’s Co-Worker Owned, Inc. (the Company) established the Plan as of January 1, 2003. The Plan operates as an employee stock ownership plan (ESOP). On January 1, 2016, the Plan was amended and restated. The Plan is designed to comply with Section 4975(e)(7) and the regulations thereunder of the Internal Revenue Code (IRC) of 1986, as amended and is subject to the applicable provisions of the Employee Retirement Income Security Act of 1974. The Plan is administered by an ESOP Committee appointed by the Company’s Board of Directors. A member of the ESOP Committee serves as the Plan Trustee. Eligibility Employees of the Company are eligible to participate in the plan upon completion of one hour of service. Participants will share in Company contributions for any Plan year during which they are employed on the last day of the Plan year and have at least 500 hours of service unless the participant retires at normal retirement age, becomes disabled or dies. In those circumstances these requirements are waived. Employer Contributions The Company is obligated to make contributions to the Plan in amounts sufficient to allow the plan to fund current participant distributions. Payment of Benefits Distributions are allowed on account of death, disability, termination or retirement and are made no later than the last day of the Plan year following the year eligibility criteria have been met. Distributions of $5,000 or less are paid in a lump sum. Distributions over $5,000 will be paid in equal installments over five years. The Plan document directs all distributions to be made in cash while the Company maintains S-Corporation status. Voting Rights The Trustee shall vote all shares of Company stock held by the Plan with respect to all corporate matters upon which Company shareholders are entitled or permitted to vote. Notwithstanding the foregoing, each participant is entitled to exercise voting rights attributable to the shares allocated to his or her account with respect to the approval or disapproval of any corporate merger or consolidation, recapitalization, reclassification, liquidation, dissolution, or sale of substantially all Company assets. The Trustee will provide a ballot prior to the time that such rights are to be exercised upon which voting instructions may be indicated to the Trustee, and the Trustee shall vote such shares as instructed by participants. Shares for which instructions have not been given by a participant shall not be voted. 5 MOODY’S CO-WORKER OWNED EMPLOYEE STOCK OWNERSHIP PLAN NOTES TO FINANCIAL STATEMENTS December 31, 2017 and 2016 1. Plan Description and Basis of Presentation (Continued) Plan Termination The Company reserves the right to terminate the Plan at any time, subject to plan provisions. Upon such termination of the Plan, the accounts of participants shall be fully vested and the interest of each participant in the trust fund will be distributed to such participant or his or her beneficiary at the time prescribed by the Plan terms and the Internal Revenue Code (IRC). Participant Accounts The Plan is a defined contribution plan under which a separate individual account is established for each participant. Each participant’s account is credited as of the last day of each plan year with a share of the employer contributions, investment earnings, interest income and forfeitures of terminated participants’ nonvested accounts. Allocations of contributions and forfeitures are based on a participant’s eligible compensation, relative to total eligible compensation, as defined. Shares repurchased as a result of distributions or segregation are re-allocated as of the last day of the Plan year based upon a participant’s cash balance, relative to the total available cash balance. Plan earnings are allocated to each participant’s account based on the number of shares owned and the change in value of the shares during the year. Vesting If a participant’s employment with the Company ends for any reason other than retirement, permanent disability or death, he or she will be vested in the balances in his or her account based on total years of service with the company. Participants vest 20% per year starting with their second year of service and receive 40% vesting for their fifth year of service and are 100% vested after five years of service. Put Option Under Federal income tax regulations, employer stock that is held by the Plan and its participants and is not readily tradable on an established market, or is subject to trading limitations must include a put option which is described more fully in the Plan agreement. The put option is a right to demand that the Company buy any shares of its stock distributed to participants for which there is no market. The put price is representative of the fair market value of the stock. The Company can pay for the purchase with interest over a period of five years. The purpose of the put option is to ensure that the participant has the ability to ultimately obtain cash. The Plan document indicates that all distributions be made in the form of cash while the Company maintains an S-Corporation status. Diversification Diversification is offered to participants close to retirement so that they may have the opportunity to move part of the value of their investment in Company common stock into investments which are more diversified. Participants who are at least age 55 with at least 10 years of participation in the Plan may elect to diversify a portion of their account. Diversification is offered to each eligible participant over a six-year period. In each of the first five years, a participant may diversify up to 25 percent of his or her allocated shares, less any shares previously diversified. In the sixth year, the percentage increases to 50 percent. Participants who elect to diversify receive a distribution which may be taken in cash or in the form of a rollover to another qualified plan. 6 MOODY’S CO-WORKER OWNED EMPLOYEE STOCK OWNERSHIP PLAN NOTES TO FINANCIAL STATEMENTS December 31, 2017 and 2016 1. Plan Description and Basis of Presentation (Continued) Segregation The Plan allows for the segregation of the accounts of terminated participants. Company stock held in segregated accounts will be reallocated to eligible active participants to the extent assets other than Company stock are available. Allocations will be calculated equitably, as defined. Forfeitures Forfeitures of terminated nonvested account balances allocated to participants totaled $14,466 and $7,272 during 2017 and 2016, respectively. 2. Summary of Significant Accounting Policies Basis of Accounting The financial statements of the Plan are prepared on the accrual basis of accounting. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, and changes therein, and disclosure of contingent assets and liabilities. Actual results could differ from those estimates. Risks and Uncertainties The Plan investments consist primarily of the Company’s common stock, which is exposed to various risks such as interest rate, market and credit risks, as well as valuation assumptions based on earnings, cash flows and/or other such techniques. Due to the level of risk associated with the investment in the common stock and to uncertainties inherent in the estimations and assumptions process, it is at least reasonably possible that changes in the value of the common stock will occur in the near term and that such changes could materially affect the amounts reported in the statement of net assets available for benefits. Investment Valuation and Income Recognition The shares of Company common stock are valued at fair value as determined by an independent third party appraisal. Net appreciation represents the change in fair value during the year as determined by the independent appraisal. 7 MOODY’S CO-WORKER OWNED EMPLOYEE STOCK OWNERSHIP PLAN NOTES TO FINANCIAL STATEMENTS December 31, 2017 and 2016 2. Summary of Significant Accounting Policies (Continued) Distributions to Participants Distributions to participants are recorded when paid. Contributions Contributions are recorded when amounts are payable in the case of a profit sharing contribution. Operating Expenses Substantially all expenses of maintaining the Plan are paid by the Company. Subsequent Events The Plan has evaluated subsequent events through August 23, 2018, the date the financial statements were available to be issued. 3. Tax Status The Internal Revenue Service (IRS) has determined and informed the Company by a letter dated December 1, 2017, that the Plan is qualified and the Trust established under the Plan is tax-exempt under the appropriate sections of the IRC. The Plan has been amended and restated since receiving the determination letter. The Plan Administrator believes that the Plan is currently designed and being operated in compliance with the applicable requirements of the IRC. Therefore, they believe that the Plan was qualified and the related Trust was tax-exempt as of the financial statement date. Accounting principles generally accepted in the United States of America require Plan management to evaluate tax positions taken by the Plan and recognize a tax liability (or asset) if the organization has taken an uncertain position that more likely than not would not be sustained upon examination. The Plan administrator has analyzed the tax positions taken by the Plan, and has concluded that as of December 31, 2017 and 2016 there are no uncertain positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the financial statements. The Plan is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress. 4. Administration of Plan Assets The Plan’s assets consist principally of sponsor company common shares. Company contributions are maintained in a checking account and managed by the Trustee, which invests cash received and makes distributions to participants. 8 MOODY’S CO-WORKER OWNED EMPLOYEE STOCK OWNERSHIP PLAN NOTES TO FINANCIAL STATEMENTS December 31, 2017 and 2016 5. Investments The Plan’s investments, at December 31, 2017 and 2016 are presented in the following table: 2017 2016 239,376 239,376 Cost $ 1,845,829 $ 1,845,829 Fair value $ 8,481,092 $ 6,999,354 Fair value per share $ $ Investment in Moody’s Co-Worker Owned common stock: Number of shares 6. 35.43 29.24 Fair Value Measurements Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) 820, Fair Value Measurements and Disclosures, provides the framework for measuring fair value. That framework provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy under FASB ASC 820 are described as follows: Level 1 – Inputs to the valuation methodology are unadjusted quoted prices for identical assets or liabilities in active markets that the Plan has the ability to access. Level 2 – Inputs to the valuation methodology include:     Quoted prices for similar assets or liabilities in active markets; Quoted prices for identical or similar assets or liabilities in inactive markets; Inputs other than quoted prices that are observable for the asset or liability; Inputs that are derived principally from or corroborated by observable market data by correlation or other means. If the asset or liability has a specified (contractual) term, the level 2 input must be observable for substantially the full term of the asset or liability. Level 3 – Inputs to the valuation methodology are unobservable and significant to the fair value measurement. The asset’s or liability’s fair value measurement level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Valuation techniques used need to maximize the use of observable inputs and minimize the use of unobservable inputs. 9 MOODY’S CO-WORKER OWNED EMPLOYEE STOCK OWNERSHIP PLAN NOTES TO FINANCIAL STATEMENTS December 31, 2017 and 2016 6. Fair Value Measurements (Continued) Following is a description of the valuation methodologies used for assets measured at fair value. There have been no material changes in the methodologies used at December 31, 2017 and 2016. The fair value of the Company common stock held by the Plan is valued at fair value based upon an independent appraisal. The appraisal was based primarily on income valuation techniques. The appraiser calculated both a capitalized debt free earnings value and a discounted future earnings value. These values were averaged to determine a value for all Company shares of $46.62 per share. The share price was adjusted for a minority interest discount (20%) and a marketability discount (5%) to arrive at a fair value for the 239,376 ESOP shares held of $8,481,092 ($35.43 per share). The valuation process involves management’s selection of an independent appraiser under a formal contract. Management accumulates the data for the appraiser from Company records, including the financial statements of the Company. The appraiser prepares a preliminary report which Company management, along with the ESOP trustee, reviews in detail, discusses and approves. The preceding valuation method may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. Furthermore, although the Plan believes its valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date. The following table sets forth by level, within the fair value hierarchy, the Plan’s investments at fair value as of December 31, 2017 and 2016: Level 1 Level 2 2017 Moody’s Co-Worker Owned common stock Level 3 Total $ – $ – $ 8,481,092 $ 8,481,092 2016 Moody’s Co-Worker Owned common stock $ – $ – $ 6,999,354 $ 6,999,354 The table below sets forth a summary of changes in the fair value of the Plan’s Level 3 assets for the year ended December 31, 2017: Investment in Sponsor Company Common Stock Balance, beginning of year Unrealized gains relating to assets still held at the reporting date $ 6,999,354 Balance, end of year $ 8,481,092 1,481,738 10 MOODY’S CO-WORKER OWNED EMPLOYEE STOCK OWNERSHIP PLAN NOTES TO FINANCIAL STATEMENTS December 31, 2017 and 2016 7. Party-in-Interest Transactions The Plan invests in Company common stock which qualifies as a party-in-interest transaction. 11 MOODY’S CO-WORKER OWNED EMPLOYEE STOCK OWNERSHIP PLAN SCHEDULE OF ASSETS HELD (AT END OF YEAR) EIN: 16-1645516 Plan #001 December 31, 2017 (a) (b) Identity of Issue, Borrower, Lessor or Similar Party (c) Description of Investment Including Maturity Date, Rate of Interest, Collateral, Par or Maturity Value * Norway Savings Bank Moody’s Co-Worker Owned Cash Common Stock * Represents party-in-interest to the Plan. 12 (d) Cost (e) Current Value $ 198,766 1,845,829 $ 198,766 8,481,092 Schedule H, Line 4i Schedule of Assets (Held At End of Year) Name of Plan: ► MOODY'S CO-WORKER OWNED EMPLOYEE STOCK OWNERSHIP PLAN Employer Identification Number:► 16-1645516 For plan year (beginning/ending):► 01/01/2017-12/31/2017 (a) * (b) Identity of issue, borrower, lessor, or similar party MOODY'S CO-WORKER OWNED NORWAY SAVINGS BANK (c) Description of investment including maturity date, rate of interest, collateral, par or maturity value VOTING COMMON STOCK CASH Plan number:► 001 (d) Cost 1,845,829 198,766 (e) Current value 8,481,092 198,766