What Does Marginal Osteophytes In The MRI Results Suggest?

Hello! I have my MRI results . .Meniscus---- the results it says I have fraying and blunting of the free edge of the lateral meniscus posterior horn to body to the menisci. Also there is irregularity of the posterior horn. Ligaments and Tendons, I have scarring of the medial collateral ligament, moderate distal quadriceps tendinitis, mild patellar tendinitis, moderate popliteus tendinitis. Bones and Soft Tissue, Moderate joint effusion small popliteus cysts. Mild scarring of the infrapatellar fat pad. Marginal osseous ridging about three compartments of the knee and the femoral notch. Small cartilage island or enchondroma measuring 5mm in the distal femoral metaphysis. In my left knee I have sebaceous cyst in the subcutaneous anterosuperior knee, measuring 9mm in greater dimension, immediately beneath the skin surface. Chondral thinning and fissuring and irregularity bone adema in the trochlea and mild cortical irregularities. Chondral thinning in the md to posterior lateral tibial plateau with areas possibly to bone. Chondral thinning and possible full thickness defect measuring 3mm in the postero-superior weight bearing aspect of the lateral femoral condyle. More severe diffuse chondral thinning and irregularity in the medial knee with areas possibly involving both surfaces. Impression:1. Chondral degeneration involving all 3 compartments as described. Finding are more severe in the medial compartment. Marginal osteophytes. 2.Moderate effusion. Small popliteal Cysts. Suprapatellar plica. Scarring of the infrapatellar fat pad. 3.Findings of partial medial meniscectomy in extrusion with irregularity of the posterior horn. 4. Fraying and blunting of the free edge of the lateral meniscus body to the posterior horn. I am lost and do I need surgery?