Risk Factors Update Summary
- Total consolidated debt outstanding increased from approximately $5 billion to $7.2 billion.
- Revenue from operations denominated in Pounds sterling decreased from 18% to 15%.
- Many EU countries enacted legislation based on the OECD Model Rules to implement Pillar Two in 2024.
- Interest expense increased from $208 million to $235 million for the year ended December 31, 2023.
- The OECD announced an international agreement with more than 140 countries to implement a two-pillar solution.
- The book minimum tax applies to corporations with average book income exceeding $1 billion.
- Other countries and territories plan to introduce Pillar Two beginning in 2025.
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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