Risk Factors Update Summary
- The company's financial condition raises doubt about its ability to continue as a going concern. It currently has approximately $5.0 billion available to borrow under a new Credit Agreement.
- The company may require additional financing to fund working capital, with a substantial doubt about its ability to continue as a going concern.
- The company's backlog decreased from $549.1 million in 2022 to $530.5 million in 2023, impacting future sales and profitability.
- The company's international operations accounted for approximately 49% of total revenues in 2023, up from 46% in 2022.
- The company's goodwill and other indefinite-lived intangible assets decreased from $217 million in 2022 to $147 million in 2023.
- The company's defined benefit pension and postretirement benefit plans were underfunded by approximately $130 million in 2022, increasing to $164 million in 2023.
- The company identified material weaknesses in internal control over financial reporting as of December 31, 2023, impacting compliance and reporting accuracy.
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=1630805&owner=exclude
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