Risk Factors Update Summary
- Addition of "and" to the risk factor related to financial services business, highlighting the impact of reduced demand and slowdown in mortgage refinancings.
- Modified Federal Energy Credits now provide $2.6 million income tax expense reduction.
- Inclusion of the risk related to obtaining sufficient additional capital or refinancing existing indebtedness, crucial for liquidity and business operations.
- Increased ownership stake to 4% may limit company control and influence stock price.
- Introduction of risks related to interest rate lock commitments and loans held for sale fluctuation, impacting hedging effectiveness.
- Deferred tax assets decreased from $20.9 million to $17.0 million, impacting financials.
- Mention of potential conflicts of interest and subordination risks to existing and future indebtedness.
- Addition of factors like consumer confidence, employment, and inflation affecting gross margins and operations.
- Inclusion of risks related to geopolitical conflicts, civil unrest, and economic slowdown impacting markets and operations.
- Introduction of risks associated with weather and climate change, affecting operations and profitability.
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=1576940&owner=exclude
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