Risk Factors Update Summary
- Increased volatility in sales and production schedules due to supply chain disruptions, including increased transportation costs.
- Reduction in sales to GM from 40% in 2022 to 39% in 2023, impacting consolidated net sales.
- Labor agreements with UAW and customers resulted in compensation increases for UAW associates.
- Introduction of new laws or regulations could increase costs of doing business, affecting financial condition.
- Reduction in sales to Stellantis from 18% in 2022 to 16% in 2023, affecting consolidated net sales.
- Potential adverse impact from uncertainties in international tax law treaties and trade agreements.
- Increased hourly labor shortage impacting manufacturing facilities, resulting in lower gross margins.
Full Text Changes in Most Recent 10-K
Intended use: review the highlighted statements. These are additions to the risk factors disclosure in the most recent 10-K filing compared to the previous 10-K filing. Deleted and moved text is less important and is shown for context.
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