Risk Factors Update Summary
- Results in 2023 were negatively impacted by the bankruptcy of a large customer, affecting profitability.
- The Company eliminated approximately 13% of office positions during 2023, reducing costs.
- Moody's downgraded the Company's debt ratings, leading to increased interest expenses of $8 million annually.
- The Company may face future impairment charges due to divestitures or product line exits.
- Failure to remediate internal control weaknesses could result in material misstatements in financial reporting.
- The Company faces exposure to product recalls, liability claims, and potential reputation damage.
- The Company's operations may be impacted by the OECD's global minimum corporate tax implementation.
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=814453&owner=exclude
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