Legal Proceedings
−Removed: The Company and its subsidiaries are subject in the normal course of business to various pending and threatened legal proceedings in which claims for monetary damages are asserted.
−Removed: As of September 30, 2022, management, after consultation with legal counsel, does not anticipate that the aggregate ultimate liability arising out of litigation pending or threatened against the Company or its subsidiaries will be material to the Company’s consolidated financial position.
−Removed: On at least a quarterly basis, the Company assesses its liabilities and contingencies in connection with such legal proceedings.
+Added: The Company and its subsidiaries are subject in the normal course of business to various pending and threatened legal proceedings or other matters in which claims for monetary damages are asserted.
+Added: As of March 31, 2023, management, after consultation with legal counsel, does not anticipate that the aggregate ultimate liability arising out of such pending or threatened matters against the Company or its subsidiaries will be material to the Company’s consolidated financial position.
+Added: On at least a quarterly basis, the Company assesses its liabilities and contingencies in connection with such matters.
For those matters where it is probable that the Company will incur losses and the amounts of the losses can be reasonably estimated, the Company records an expense and corresponding liability in its consolidated financial statements.
−Removed: To the extent the pending or threatened litigation could result in exposure in excess of that liability, the amount of such excess is not currently estimable.
+Added: To the extent such matters could result in exposure in excess of that liability, the amount of such excess is not currently estimable.
The range of reasonably possible losses for matters where an exposure is not currently estimable or considered probable, beyond the existing recorded liabilities, is believed to be between $0 and $1 million in the aggregate.
This estimated range is based on information currently available to the Company and involves elements of judgment and significant uncertainties.
−Removed: Information on current legal proceedings is set forth in Note J to the consolidated financial statements included under Part I, Item 1.
−Removed: Although the Company does not believe that the outcome of pending litigation will be material to the Company’s consolidated financial position, it cannot rule out the possibility that such outcomes will be material to the consolidated results of operations for a particular reporting period in the future.
−Removed: There has not been any material change in the risk factors disclosure from that contained in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021, as filed with the SEC on March 1, 2022, and the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2022, as filed with the SEC on May 10, 2022.
+Added: Information on current legal proceedings and other matters is set forth in Note I to the consolidated financial statements included under Part I, Item 1.
+Added: Although the Company does not believe that the outcome of pending or threatened litigation or other matters will be material to the Company’s consolidated financial position, it cannot rule out the possibility that such outcomes will be material to the consolidated results of operations for a particular reporting period 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.