4 unchanged sentences
Any future payment of dividends is within the discretion of the Board of Directors and will depend upon, among other factors, the capital requirements, operating results and financial condition of CVG.
−Removed: In addition, our ability to pay cash dividends is limited under the terms of the Third Amended and Restated Loan and Security Agreement and the Term Loan and Security Agreement, as described in more detail under “Management’s Discussion and Analysis - Liquidity and Capital Resources - Debt and Credit Facilities.”
−Removed: The following graph compares the cumulative five-year total return to holders of CVG’s common stock to the cumulative total returns of the NASDAQ Composite Index and a Peer Group that includes a legacy group through October 31, 2016.
−Removed: The legacy group is Accuride Corporation, Altra Industrial Motion Corp, Core Molding Technologies, EnPro Industries, Fuel Systems Solutions, L.B.
−Removed: Foster Company, Modine Manufacturing, Meritor Inc.
−Removed: Stoneridge Inc., Titan International and Wabco Holdings.
−Removed: In 2016, Accuride Corporation was purchased by Crestview Partners, and Fuel Systems Solutions merged with Westport Innovations.
−Removed: Both members are reported as part of the legacy peer group only through 2015.
−Removed: The new peer group is Altra Industrial Motion Corp., American Railcar Industries Inc., ASTEC Industries Inc., Columbus McKinnon Corp., Dorman Products Inc., EnPro Industries, Federal Signal Corp., Freightcar America Inc., Gentherm Inc., L.B.
+Added: The following graph compares the cumulative five-year total return to holders of CVG’s common stock to the cumulative total returns of the NASDAQ Composite Index and a Peer Group.
+Added: The peer group includes Altra Industrial Motion Corp., American Railcar Industries Inc., ASTEC Industries Inc., Columbus McKinnon Corp., Dorman Products Inc., EnPro Industries, Federal Signal Corp., Freightcar America Inc., Gentherm Inc., L.B.
Foster Company, LCI Industries, Modine Manufacturing, Shiloh Industries, Spartan Motors Inc., Standard Motor Products Inc., Stoneridge Inc., and Supreme Industries.
−Removed: Supreme Industries was purchased by Wabash National Corporation and is reported as part of the new peer group only through 2017.
+Added: Supreme Industries was purchased by Wabash National Corporation and is reported as part of the peer group only through 2017.
American Railcar Industries, Inc.
−Removed: was purchased by ITE Management and is reported as part of the new peer group only through 2018.
+Added: was purchased by ITE Management and is reported as part of the peer group only through 2018.
+Added: Shiloh Industries was purchased by MiddleGround Capital LLC and is reported as part of the peer group only through 2020.
The graph assumes that the value of the investment in the Company’s common stock in the peer group and the index (including reinvestment of dividends) was $100 on December 31, 2016 and tracks it through December 31, 2021.
3 unchanged sentences
NASDAQ Composite 100.00 151.41 147.16 201.22 291.89 356.72
−Removed: Legacy Peer Group 100.00 98.91 N/A N/A N/A N/A
New Peer Group 100.00 145.60 122.49 159.20 196.58 237.77
−Removed: The information in the graph and table above is not “solicitation material”, is not deemed “filed” with the Securities and Exchange Commission and is not to be incorporated by reference in any of our filings under the Securities Act of 1933, as
−Removed: amended, or the Securities Exchange Act of 1934, as amended, whether made before or after the date of this annual report, except to the extent that we specifically incorporate such information by reference.
−Removed: We did not repurchase any of our common stock on the open market as part of a stock repurchase program during 2020.
−Removed: Our employees surrendered 96,231 shares of our common stock in 2020 to satisfy tax withholding obligations on the vesting of restricted stock awards issued under our Fourth Amended and Restated Equity Incentive Plan and the 2014 Equity Incentive Plan.
+Added: The information in the graph and table above is not “solicitation material”, is not deemed “filed” with the Securities and Exchange Commission and is not to be incorporated by reference in any of our filings under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, whether made before or after the date of this annual report, except to the extent that we specifically incorporate such information by reference.
+Added: We did not repurchase any of our common stock on the open market during 2021.
+Added: Our employees surrendered 148,358 shares of our common stock in 2021 to satisfy tax withholding obligations on the vesting of restricted stock awards issued under our 2014 Equity Incentive Plan and the 2020 Equity Incentive Plan.
The following table sets forth information in connection with purchases made by, or on behalf of, us or any affiliated purchaser, of shares of our common stock during the period ended December 31, 2021:
12 unchanged sentences
Purchased Under
+Added: March 1, 2021 through March 31, 2021 7,031 $ 10.45 — —
October 1, 2021 through October 31, 2021 25,660 $ 10.19 — —
−Removed: November 1, 2020 through November 30, 2020 14,450 $ 6.09 — —
December 1, 2021 through December 31, 2021 115,667 $ 8.15 — —
−Removed: No other shares were surrendered during the period ended December 31, 2020.
+Added: No other shares were surrendered during the year ended December 31, 2021.
Unregistered Sales of Equity Securities
We did not sell any equity securities during 2021 that were not registered under the Securities Act of 1933, as amended.
−Removed: Selected Financial Data
−Removed: The following table sets forth selected consolidated financial data regarding our business.
−Removed: This information should be read in conjunction with the Management's Discussion and Analysis of Financial Condition and Results of Operations in Item 7 of this Annual Report on Form 10-K and with our consolidated financial statements and Notes thereto included elsewhere in this Annual Report on Form 10-K.
−Removed: The table below sets forth Statements of Operations for the periods indicated (in thousands, except per share data):
−Removed: Years Ended December 31,
−Removed: 2020 2019 2018 2017 2016
−Removed: Statements of operations:
−Removed: Revenues $ 717,699 $ 901,238 $ 897,737 $ 755,231 $ 662,112
−Removed: Cost of revenues 643,623 796,101 772,817 664,360 575,409
−Removed: Gross profit 74,076 105,137 124,920 90,871 86,703
−Removed: Selling, general and administrative expenses 64,794 62,549 60,679 59,547 60,482
−Removed: Goodwill and other impairment 29,017 — — — —
−Removed: Amortization expense 3,434 1,952 1,300 1,320 1,305
−Removed: Operating income (23,169) 40,636 62,941 30,004 24,916
−Removed: Other (expense) income (728) (2,225) 1,311 1,943 1,236
−Removed: Interest expense 20,603 16,855 14,676 19,149 19,318
−Removed: Income (loss) before provision for income taxes (44,500) 21,556 49,576 12,798 6,834
−Removed: Provision for income taxes (7,451) 5,778 8,087 15,067 49
−Removed: Net income (loss) (37,049) 15,778 41,489 (2,269) 6,785
−Removed: Income (loss) per share attributable to common stockholders:
−Removed: Basic $ (1.20) $ 0.52 $ 1.37 $ (0.08) $ 0.23
−Removed: Diluted $ (1.20) $ 0.51 $ 1.36 $ (0.08) $ 0.23
−Removed: Weighted average common shares outstanding:
−Removed: Basic 30,943 30,602 30,277 29,942 29,530
−Removed: Diluted 30,943 30,823 30,587 29,942 29,878
−Removed: The table below sets forth certain balance sheet and other data for the periods indicated (in thousands):
−Removed: Years Ended December 31,
−Removed: 2020 2019 2018 2017 2016
−Removed: Balance sheet data (at end of each period):
−Removed: Working capital (current assets less current liabilities) $ 145,650 $ 149,365 $ 176,571 $ 149,546 $ 202,693
−Removed: Total assets 454,373 435,826 412,688 381,969 428,765
−Removed: Total liabilities, excluding debt 212,427 150,754 139,334 142,697 127,921
−Removed: Total debt, net of prepaid debt financing costs and discount 146,576 156,384 163,758 166,949 233,154
−Removed: Total stockholders’ equity 95,370 128,688 109,596 72,323 67,690
−Removed: Net cash provided by (used in):
−Removed: Operating activities $ 34,372 $ 36,746 $ 40,992 $ 2,257 $ 49,365
−Removed: Investing activities (6,420) (57,979) (14,101) (10,776) (8,903)
−Removed: Financing activities (19,262) (10,113) (5,835) (72,848) (714)
−Removed: Depreciation and amortization 18,493 15,561 15,418 15,344 16,451
−Removed: Capital expenditures 7,142 24,117 14,550 13,567 11,917
−Removed: North American class 8 production (units) 1
−Removed: 214 342 324 256 228
−Removed: North America class 5-7 production (units) 1
−Removed: 223 281 273 249 233
−Removed: ACT ( February 2021 )
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.