5 unchanged sentences
Risk Factors” in our 2025 Form 10-K.
−Removed: The risk factor in our 2024 Form 10-K entitled “Any impairment in the value of our intangible assets, including Goodwill, would negatively affect our operating results and total capitalization” is replaced in its entirety by the following:
−Removed: Any further impairment in the value of our intangible assets, including Goodwill, would negatively affect our operating results and total capitalization.
−Removed: Our Total assets reflect substantial intangible assets, primarily Goodwill.
−Removed: The Goodwill results from our acquisitions, representing the excess of cost over the fair value of the net assets we have acquired.
−Removed: We assess annually, or more frequently if an event occurs or circumstances change in the interim that would more likely than not reduce the fair value of the asset below its carrying amount, in order to determine whether there has been impairment in the value of our Goodwill.
−Removed: In connection with our annual assessment for the year ended December 31, 2024, we recognized a non-cash Goodwill impairment charge of $645 million ($315 million for the Prevention & Recovery reporting unit and $330 million for the Reconstructive reporting unit).
−Removed: Additionally, for the quarter ended October 3, 2025, we identified an impairment indicator associated with a sustained decrease in our publicly quoted share price and market capitalization, relative to the carrying value of our reporting units.
−Removed: As a result, we performed an interim quantitative assessment of Goodwill and recognized a non-cash Goodwill impairment charge of $541 million ($222 million for the Prevention & Recovery reporting unit and $319 million for the Reconstructive reporting unit).
−Removed: See “Management’s Discussion and Analysis of Financial Condition and Results of Operations—Critical Accounting Policies—Goodwill and Intangible Assets” in our 2024 Form 10-K and “Management’s Discussion and Analysis of Financial Condition and Results of Operations—Critical Accounting Policies and Estimates—Goodwill and Intangible Assets” in our Quarterly Report on Form 10-Q for the quarterly period ended October 3, 2025.
−Removed: If future operating performance at either of our reporting units were to fall significantly below current levels, if competing or alternative technologies emerge, if market conditions for an acquired business decline, or if there is a further sustained decrease in our publicly quoted share price and market capitalization, among other things, we could incur, under current applicable accounting rules, additional non-cash charges to operating earnings for Goodwill impairment, which could be material and may adversely affect our reported earnings.
Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities
Defaults Upon Senior Securities
−Removed: COLFAX CORPORATION
−Removed: NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
Mine Safety Disclosures
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.