2 unchanged sentences
The risks described in our Annual Report on Form 10-K are not the only risks facing us.
−Removed: There have been no material changes to the Risk Factors except as set forth below:
−Removed: If critical components or raw materials used to manufacture our products or used in our development programs become scarce or unavailable, then we may incur delays in manufacturing and delivery of our products and in completing our development programs, which has damaged, and could continue to damage, our business, results of operations and financial condition.
−Removed: We purchase certain components, subassemblies and systems from a limited group of suppliers, some of which are sole source suppliers.
−Removed: We often do not have long-term agreements in place with these suppliers that obligate them to continue to sell components, subassemblies, systems or other products to us.
−Removed: Our substantial reliance on these suppliers involves significant risks and uncertainties, including whether our suppliers will be able to provide an adequate supply of required components, subassemblies, or systems of sufficient quality, will increase prices, including significantly, for the components, subassemblies or systems that they sell to us and will perform their supply obligations to us on a timely basis.
−Removed: The occurrence of these types of supply chain pressures have negatively impacted, and may in the future continue to negatively impact, our ability to meet delivery deadlines and to respond to accelerated or quick-turn delivery requests from customers.
−Removed: Consequently, these supply chain pressures have had, and may continue in the future to have, a negative impact on our revenues and results of operations.
−Removed: These types of negative financial impacts on our business may become only more acute as supply chain pressures increase.
−Removed: In addition, certain critical components or raw materials used in the manufacture of our products and used in our development programs have been, and may in the future continue to be, periodically subject to supply shortages, and, as a result, our supply chain is subject to the risk of price increases and periodic delays in delivery, which, in turn, have impacted, and in the future may continue to impact, our ability to meet the product delivery dates for our end customers.
−Removed: Particularly, the market for electronic components is experiencing increased demand, creating substantial uncertainty regarding our suppliers’ continued production of key components for our products.
−Removed: If we are unable to obtain components from third party suppliers in the quantities and of the quality that we require, on a timely basis and at acceptable prices, then we may not be able to timely complete development programs or deliver our products on a timely or cost effective basis to our customers, which could cause customers to terminate their contracts with us, increase our costs and seriously damage our business, results of operations and financial condition.
−Removed: Moreover, if any of our suppliers become financially unstable, or otherwise unable or unwilling to provide us with raw materials or components, then we may have to find new suppliers.
−Removed: It may take several months to locate alternative suppliers, if required, or to redesign our products to accommodate components from different suppliers.
−Removed: We may experience significant delays in manufacturing and shipping our products to customers and incur additional development, manufacturing and other costs to establish alternative sources of supply if we lose any of these sources or are required to redesign our products.
−Removed: We cannot predict if we will be able to obtain replacement components within the time frames that we require at an acceptable cost, if at all.
−Removed: In particular, governmental measures responsive to the global COVID-19 pandemic have disrupted manufacturing and many supply chains, including our supply chain, which has had, and is expected to continue to have, a significant impact, both direct and indirect, on businesses and commerce worldwide, including our business.
−Removed: Although we have had some, though not yet materially significant, delays from our suppliers and we keep stock of all our raw materials and other product components with long lead times to assist in the event that our supply chain is disrupted, if the COVID-19 outbreak continues or worsens and results in a prolonged period of commercial and/or governmental restrictions, this may further impact our ability to acquire certain raw materials and components used in the manufacture of our products and in our development programs.
−Removed: Government vaccine mandates could result in workforce attrition for us and our suppliers which could adversely affect our operations and supply chain.
−Removed: On September 9, 2021, President Biden issued an executive order requiring all employers with U.S.
−Removed: Government contracts to ensure that their U.S.-based employees, contractors, and subcontractors, that work in affected facilities or work on or in support of U.S.
−Removed: Government contracts are fully vaccinated.
−Removed: The deadline for vaccination was initially December 8, 2021, but the White House announced on November 4, 2021 that the deadline is being extended to January 4, 2022.
−Removed: The executive order includes on-site and remote U.S.-based employees, contractors and subcontractors and permits only limited exceptions for medical and religious reasons.
−Removed: Substantially all of our subsidiaries are either directly subject
−Removed: to the executive order, or will be required to comply with the executive order via flowdown from our affected customers.
−Removed: In addition, on November 4, 2021, the Occupational Safety and Health Administration (OSHA) issued an emergency temporary standard (ETS) mandating that employers with 100 or more employees ensure that their employees are either fully vaccinated against, or tested weekly for, COVID-19.
−Removed: This requirement includes all U.S.-based employees, except those who work exclusively remotely or outdoors.
−Removed: It applies as of January 4, 2022 and permits only limited exceptions for medical and religious reasons.
−Removed: It is currently not possible to predict with certainty the impact the executive order or OSHA ETS will have on our workforce, or on our suppliers who may also be impacted.
−Removed: Government contractor, and as a supplier to customers who are U.S.
−Removed: Government contractors, we are requiring all U.S.-based employees, contractors and subcontractors that service or support our U.S.
−Removed: Government contracts, and who do not qualify for medical or religious exemptions, to be fully vaccinated by January 4, 2022.
−Removed: Employees who are not subject to this requirement and do not work exclusively remotely or outdoors will be subject to the ETS that will require them to either become fully vaccinated or get a COVID-19 test at least once a week.
−Removed: Additional vaccine mandates may be announced in jurisdictions in which our businesses operate.
−Removed: Implementation of these requirements may result in attrition, including attrition of critically skilled labor, and difficulty securing future labor needs, which could have a material adverse effect on our business, financial condition, and results of operations.
−Removed: Further, implementation of these requirements by our suppliers may result in workforce attrition at our suppliers, which may result in disruption to our supply chain which, in turn, may have a negative impact on our revenues and results of operations by impacting ability to acquire certain raw materials and components used in the manufacture of our products and in our development programs.
−Removed: Our financial results could be adversely impacted by the escalation of labor and benefit costs.
−Removed: Consistent with the experience of other employers, our labor, medical and workers’ compensation costs have increased substantially in recent years and are expected to continue to rise.
−Removed: If this trend continues, the cost of labor and to provide healthcare and other benefits to our employees could increase, adversely impacting profitability.
−Removed: As the labor market recovers from the effects of the COVID-19 pandemic, competition for employees has escalated which has increased costs associated with attracting and retaining employees.
−Removed: We cannot be certain that we will be able to maintain an adequately skilled labor force necessary to operate efficiently or that our labor costs will not increase as a result of a shortage in the availability of skilled employees.
−Removed: Changes to healthcare regulations involving the Patient Protection and Affordable Care Act may also increase the cost of providing such benefits to our employees.
−Removed: We cannot predict the ultimate content, timing, or effect of any healthcare reform legislation or the impact of potential legislation or related proposals and policies on our results.
−Removed: Any significant increases in the costs attributable to our self-insured health and workers’ compensation plans could adversely impact our business, results of operations, financial condition and cash flows.
+Added: Additional risks and uncertainties not currently known to us or that we currently deem to be immaterial also may materially adversely affect our business, financial condition and/or results of operations.
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.