Risk Factors Update Summary
- The company significantly increased leverage, incurring a substantial amount of indebtedness, with net pre-tax expenses related to the Security Incident totaling $55.7 million in 2023.
- Expected new regulations could impose significant costs on the company, impacting financial performance and talent retention.
- The company incurred net cash outlays of $55.7 million related to the Security Incident in 2023.
- The company recorded approximately $23.0 million in aggregate liabilities for loss contingencies related to the Security Incident.
- The company expects pre-tax expenses of approximately $31.0 to $30.0 million and net cash outlays of approximately $25 million to $35 million in 2023 for settlements related to the Security Incident.
- The company agreed to pay a civil penalty of $3.0 million to the SEC in connection with the Security Incident settlement.
- The company agreed to pay a total of $49.5 million to 49 states and the District of Columbia in connection with the Security Incident settlement.
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.
To view the full company filings, click on the following link to be taken to the SEC EDGAR database landing page for the company: https://www.sec.gov/edgar/browse/?CIK=1280058&owner=exclude
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