Risk Factors Update Summary
- Increased interest rates in 2022 led to a decline in net revenues from 42% to 34%.
- Net revenues from North America increased from 64% to 73% in 2023.
- Market price volatility of Common Stock due to global economic conditions and industry factors.
- Unfavorable returns on U.S. pension plans decreased from $325 million to $283 million.
- Number of employees worldwide decreased from over 23,400 to approximately 11,800 in the U.S. and Canada.
- Overfunded pension assets decreased from $11 million to $3 million in 2023.
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=1674335&owner=exclude
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