Risk Factors Update Summary
- Sales to top ten customers increased from 25% to 39% of consolidated sales in 2021, 2022, and 2023.
- The number of customers increased from 500,000 to 700,000, with sales to top ten customers rising.
- Recent acquisitions, including Howden, may impact cost savings, commercial synergies, and market opportunities.
- Failure to integrate recent acquisitions successfully could adversely affect financial condition and results.
- Increased interest rate exposure due to certain indebtedness incurred in connection with the Howden Acquisition.
- Potential changes in tax laws globally, including BEPS project adoption, could increase tax uncertainty.
- Dilution risk to existing stockholders from issuance of convertible notes and preferred stock upon Howden Acquisition.
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=892553&owner=exclude
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