Risk Factors Update Summary
- Added risk related to inflationary pressures impacting operating costs and future economic uncertainties.
- Increased focus on financial forecasts based on estimates that may differ materially from actual results.
- Added coverage for warranties for materials and workmanship with a $6 million retention for indemnity.
- Added risk of potential negative financial and reputational impacts related to occupational health and safety matters.
- Expanded risk factors to include legal proceedings from foreign government noncompliance notices.
- Mentioned the completion of the sale of Quest Integrity and the conduct of operations in two segments instead of three.
- Increased potential costs due to governmental or regulatory inquiries impacting operations, financial position, or cash flows.
- Added risk related to the potential delisting of common stock from the NYSE and its impact.
- Added risk related to the potential impact of geopolitical issues on global trade and operations.
- Added risk related to changes in laws and regulations impacting tax principles and global minimum tax rates.
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=318833&owner=exclude
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