Risk Factors Update Summary
- Addition of "slow growth" to global economic conditions risk factor. This change broadens economic risk assessment.
- Increase in consolidated sales from 23% in 2022 to 25% in 2023. This signifies sales growth.
- Increase in total outstanding variable rate debt from $1,295 million to $1,237 million.
- Increase in goodwill from $5.2 billion to $5.3 billion and other intangible assets from $3.4 billion to $3.0 billion.
- Expected inflation to continue in 2024 but at a more modest rate than in 2023 and 2022.
- Plan to eliminate approximately $125 million of costs during 2023 and 2024. This cost reduction strategy is significant.
- Increase in total outstanding fixed to variable indebtedness from $4.1 billion to $4.0 billion.
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.
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