Risk Factors Update Summary
- Increased inflation and macroeconomic disruptions from the Russian invasion of Ukraine may impact operations.
- Consolidation among key suppliers could affect energy and utilities sourcing, potentially leading to supply disruptions.
- Loss of significant customers, with one accounting for 40% of net revenues, poses a material risk.
- Labor shortages and increased labor costs continue to impact operations, leading to heightened employee turnover.
- A restructuring plan approved by the Board aims to optimize manufacturing operations, potentially improving efficiency.
- Debt levels have changed, with outstanding indebtedness decreasing from $605 million to $227 million.
- Pension plan net asset position increased from $9 million to $61 million due to asset returns.
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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