133 unchanged sentences
Loan contracts secured by collateral that is geographically concentrated could experience higher rates of delinquencies, default and foreclosure losses than loan contracts secured by collateral that is more geographically dispersed.
−Removed: We have loan contracts secured by factory-built homes located in 26 states, including Texas, Florida, New Mexico and Oklahoma.
+Added: We have loan contracts secured by factory-built homes located in 27 states, including Texas, Florida, Oklahoma, and New Mexico.
Standard Casualty also specializes in writing contracts for the manufactured housing industry, primarily serving the Texas, Arizona, New Mexico and Nevada markets.
13 unchanged sentences
Some of the Company's manufacturing production employees are represented by unions, and failure to negotiate reasonable collective bargaining agreements may result in strikes, work stoppages or substantially higher ongoing labor costs
−Removed: Certain manufacturing production employees (approximately 7% of our total employees as of March 29, 2025) are represented by unions and are covered by collective bargaining agreements, which expire in April 2026 and February 2027.
+Added: Certain manufacturing production employees (approximately 7% of our total employees as of March 28, 2026) are represented by unions and are covered by collective bargaining agreements, which expire in February 2027 and April 2029.
Wages, health and welfare benefits, work rules and other issues have historically been negotiated in a reasonable amount of time and have previously not resulted in any extended work stoppages.
37 unchanged sentences
In addition, the housing industry is subject to seasonal fluctuations based on new home buyer purchasing patterns.
−Removed: Demand for our core new home products typically peaks each spring and summer before declining in the winder, consistent with the overall housing industry.
+Added: Demand for our core new home products typically peaks each spring and summer before declining in the winter, consistent with the overall housing industry.
As a result of the foregoing economic, demographic and other factors, our revenues and operating results fluctuate, and we expect them to continue to fluctuate in the future.
12 unchanged sentences
Changes in trade policies may result in increased costs and could adversely affect our operating results
−Removed: The impact of geopolitical tensions, including the potential implementation of more restrictive trade policies, higher tariffs or the renegotiation of existing trade agreements in the U.S.
−Removed: could have a material adverse effect on our business.
+Added: The impact of geopolitical tensions, including the potential implementation of more restrictive trade policies, higher tariffs or the renegotiation of existing trade agreements in the U.S., could have a material adverse effect on our business.
In particular, political or trade disputes, or future phases of trade negotiations with China, Canada, Mexico, or other countries from which we import parts for our products that could lead to the imposition of tariffs or other trade actions could require us to take action to mitigate those effects.
37 unchanged sentences
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.