RISK FACTORS.
−Removed: “Item 1A, Risk Factors” in our Annual Report on Form 10-K includes a discussion of our risk factors.
−Removed: The information presented below updates, and should be read in conjunction with, the risk factors disclosed in our Annual Report on Form 10-K.
−Removed: The effects of the events and circumstances described in the following risk factor may have the additional effect of heightening many of the risks noted in our Annual Report on Form 10-K.
−Removed: Except as presented below, there have been no material changes from the risk factors described in our Annual Report on Form 10-K.
−Removed: Our international operations require us to comply with anti-corruption laws, economic sanctions, export controls and similar laws and regulations of the U.S.
−Removed: government and various international jurisdictions in which we do business.
−Removed: Doing business on a worldwide basis requires us and our subsidiaries to comply with the laws and regulations of the U.S.
−Removed: government and various international jurisdictions, and our failure to successfully comply with these laws and regulations may restrict our operations, trade practices, investment decisions and partnering activities and may expose us to liabilities.
−Removed: Such laws and regulations apply to companies, individual directors, officers, employees and agents.
−Removed: In particular, our international operations are subject to U.S.
−Removed: and foreign anti-corruption laws and regulations, such as the Foreign Corrupt Practices Act (“FCPA”) and the U.K.
−Removed: For example, the FCPA prohibits us from providing anything of value to foreign officials for the purposes of influencing official decisions or obtaining or retaining business or otherwise obtaining favorable treatment, and requires us to maintain adequate record-keeping and internal accounting practices to accurately reflect our transactions.
−Removed: As part of our business, we may deal with state-owned business enterprises, the employees and representatives of which may be considered foreign officials for purposes of the FCPA.
−Removed: In addition, some of the international locations into which we sell our products lack a developed legal system and have elevated levels of corruption.
−Removed: As a result, we are exposed to corruption-related risk.
−Removed: In addition, we are subject to applicable economic sanctions, export controls, and similar laws and regulations imposed by the U.S.
−Removed: government and other countries.
−Removed: These laws and regulations may restrict our business practices, or the counterparties or regions with which we can trade.
−Removed: In addition, these laws and regulations are subject to frequent change, and such changes may require us to adjust our business practices, including by ceasing business activities in newly sanctioned countries or regions or with newly sanctioned entities or individuals, or to modify our compliance program.
−Removed: For example, the current invasion of Ukraine by Russia and the related sanctions, export controls or other actions that have been or may be initiated by nations—including the U.S., the European Union, the United Kingdom, and Russia—could disrupt or otherwise adversely impact our customers in those countries, as well as adversely impact our business or our supply chain, business partners or customers in other countries beyond Ukraine and Russia.
−Removed: Further, violations of these legal requirements are punishable by criminal fines and imprisonment, civil penalties, disgorgement of profits, injunctions, debarment from government contracts, loss of export privileges and other remedial measures.
−Removed: We have established policies and procedures designed to assist us and our personnel in complying with applicable U.S.
−Removed: and international laws and regulations.
−Removed: These policies and procedures are codified in our Code of Conduct and other various policies.
−Removed: However, there can be no assurance that our policies and procedures will effectively prevent us from violating these laws and regulations in every transaction in which we may engage, and such a violation could subject us to governmental investigations and adversely affect our reputation, business, financial condition and results of operations.
+Added: “Item 1A, Risk Factors” in our Annual Report on Form 10-K, as supplemented by “Item 1A, Risk Factors” in our quarterly report on Form 10-Q for the quarter ended March 31, 2022, which we refer to as the First Quarter Form 10-Q, includes a discussion of our risk factors.
+Added: The information presented below updates, and should be read in conjunction with, the risk factors disclosed in our Annual Report on Form 10-K, as supplemented by our First Quarter Form 10-Q.
+Added: The effects of the events and circumstances described in the following risk factor may have the additional effect of heightening many of the risks noted in our Annual Report on Form 10-K, as supplemented by our First Quarter Form 10-Q.
+Added: Except as presented below, there have been no material changes from the risk factors described in our Annual Report on Form 10-K, as supplemented by our First Quarter Form 10-Q.
+Added: Unfavorable global economic conditions could adversely affect our business, financial condition, and results of operations.
+Added: Our results of operations could be adversely affected by general conditions in the global economy and in the global financial markets.
+Added: For example, the global economy has experienced extreme volatility and disruptions, including significant volatility in commodity and market prices, including increasing energy prices, volatility in sulfur prices, declines in consumer confidence, declines in economic growth, supply chain interruptions, uncertainty about economic stability and record inflation globally.
+Added: Unfavorable economic conditions could result in a variety of risks to our business, including demand and pricing for our products and difficulty in forecasting our financial results.
+Added: A weak or declining economy also could strain our suppliers, possibly resulting in supply chain disruptions.
+Added: In addition, inflation has increased our costs, which could impact our profitability.
+Added: These and other economic factors could adversely impact our business and 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.