Risk Factors Update Summary

• The company's non-controlling minority investments decreased from $781 million to $630 million. This change might result in a decrease in investment income.
• The company's cash and cash equivalents decreased from $804 million to $536 million. This change might result in reduced liquidity and financial flexibility.
• The fair values of the pension plan trust assets decreased from $631 million to $509 million. This change might result in a decrease in the funding level of the pension plan.
• The company identified a material weakness in its internal control over financial reporting related to the newly acquired WSS business. This change might result in inaccurate financial reporting and potential misstatements.
• The company mentioned risks associated with shareholder activism, including campaigns by shareholders that could impact its business and stock price.
• The company highlighted the potential negative effects of inflation on the economies where it operates, which may lead to reduced customer demand and changes in purchasing behavior.
• The company discussed the potential impact of changes in employment laws and regulations, including minimum wage requirements and paid leaves of absence, on its operating costs.