Risk Factors Update Summary
- Inflation impacts: Higher costs for transportation, material, supplies, and labor could adversely affect financials.
- Customer concentration: Top 10 customers' sales contribution increased from 40% to 44%.
- Debt restructuring: Outstanding indebtedness under the Term Loan decreased from $1.059 billion to $868 million.
- Interest rates: The company reduced outstanding letters of credit from $21 million to $15 million.
- Interest rates impact: Prevailing high rates increase costs and affect business strategy execution.
- Stock performance: Stock price fluctuated from a high of $20 to $14 and a low of $9 to $10.
- Labor unions representation: Labor unions represented approximately 28% of the workforce.
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=1524741&owner=exclude
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