Family Sharing - Hiding content in iTunes Library & iBooks that was not purchased from iTunes/ iBooks

I just enabled Family Sharing. As the Organizer, I am wanting to fully understand hiding/ sharing content before I add all of my family members.

I'm confused about what content is and isn't able to be shared among family members, more specifically, non-ITunes/ iBooks-purchased media files and PDFs stored in iTunes and iBooks libraries.

I understand how to hide content that has been purchased from both the iTunes Store and the iBooks Store, but what I do not understand is whether media content and/or PDFs stored in iBooks on iOS devices that was NOT purchased from iTunes/ iBooks is also part of Family Sharing. I have some songs that are loaded from CDs and Web that I do not want to share with my family members, and they are in my iTunes library. Same goes for some work-related PDFs I have stored in my iBooks library (I don't want to share them via Family Sharing). My question is, how do I hide these items? If Family Sharing "Hide"/ "Show" settings only apply to purchased iContent, then I suppose I don't even need to "hide" these files.

Thank you. The latest update's changes have me reeling in confusion!