−Removed: There were no material changes to the risk factors previously disclosed in our Annual Report on Form 10-K for the year ended December 31, 2023, except for the revision to the following risk factor as set forth below:
+Added: There were no material changes to the risk factors previously disclosed in our Annual Report on Form 10-K for the year ended December 31, 2023, except as set forth below:
We, or Cummins, may fail to perform under various transaction agreements that were executed as part of the IPO or we may fail to have necessary systems and services in place when certain of the transaction agreements expire.
9 unchanged sentences
Further, as part of the Separation, we implemented interim operational arrangements in certain markets due to regulatory requirements, the need to obtain consents from local governmental authorities, and other business reasons.
−Removed: For example, in Mexico, we currently operate as part of Cummins maquiladora, as we work to stand-up our own maquiladora.
+Added: For example, in Mexico, we previously operated as part of Cummins maquiladora, as we worked to stand-up our own maquiladora, which was completed during the third quarter of 2024.
A maquiladora requires numerous governmental approvals and consents.
10 unchanged sentences
The value of the assets and liabilities we assumed in connection with the Separation could ultimately be materially different than such attributions, which could have a material adverse effect on our business, financial condition, results of operations or cash flows.
−Removed: Unregistered Sales of Equity Securities and Use of Proceeds
−Removed: Recent Sales of Unregistered Securities
−Removed: Repurchase of Equity by the Company
+Added: Our stock repurchase program could affect the price of our common stock and may be suspended or terminated at any time, which may result in a decrease in the trading price of our common stock.
+Added: Our repurchase program does not have an expiration date and we are not obligated to repurchase a specified number or dollar value of shares.
+Added: Further, our stock repurchase program may be suspended, delayed or discontinued at any time, which could cause the market price of our common stock to decline.
+Added: Repurchases pursuant to our stock repurchase program could affect our stock price and the existence of our stock repurchase program could also cause our stock price to be higher than it would be in the absence of such a program.
+Added: See Item 2, Unregistered Sales of Equity Securities and Use of Proceeds - Repurchase of Equity in this Form 10-Q.
+Added: There can be no assurance that any stock repurchases will enhance stockholder value because the market price of our common stock may decline below the levels at which we repurchased shares of common stock.
+Added: We cannot guarantee the payment of dividends on our common stock, or the timing or amount of any such dividends.
+Added: We have no obligation to continue paying a quarterly cash dividend to holders of our common stock, and our dividend policy may change at any time without notice to our stockholders.
+Added: The payment of any dividends in the future to our stockholders, and the timing and amount thereof, will fall within the discretion of our Board of Directors.
+Added: Our Board of Directors’ decisions regarding the payment of dividends will depend on many factors, such as our financial condition, earnings, capital requirements, debt service obligations, restrictive covenants in the agreements governing our indebtedness, general economic business conditions, industry practice, legal requirements and other factors that our Board of Directors may deem relevant.
+Added: Our ability to pay dividends will depend on our ongoing ability to generate cash from operations and on our access to the capital markets.
+Added: See Management’s Discussion and Analysis of Financial Condition and Results of Operations - Liquidity and Capital Resources - Dividends in this Form 10-Q.
+Added: We cannot assure you that we will pay our anticipated dividend in the same amount or frequency, or at all, in the future.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.