Confirm my understanding of this Report filter

Confirm my understanding of this Report filter

Two questions:

Does this filter mean?

1. Find Deals that have at least one Stage History = Artwork/Price Quote, Deal created within the most recent 365 days and Deal Stage is Closed Won.
   
   
2. What happens if there are more than one Stage History records for "Artwork/Price Quote"?  It is sometimes the case that a Deal will go back one or more Stages, then move forward and have multiple Stage History records for the same Stage.