6 unchanged sentences
(b) Environmental.
−Removed: Compliance with federal, state and local laws regulating the discharge of materials into the environment, or otherwise relating to the protection of the environment, did not have a material effect on capital expenditures, earnings or the competitive position of Fortune Brands during the six and three months ended June 30, 2022 and 2021.
+Added: Compliance with federal, state and local laws regulating the discharge of materials into the environment, or otherwise relating to the protection of the environment, did not have a material effect on capital expenditures, earnings or the competitive position of Fortune Brands during the nine and three months ended September 30, 2022 and 2021.
We are involved in remediation activities to clean up hazardous wastes as required by federal and state laws.
4 unchanged sentences
There have been no material changes to the risk factors previously disclosed in our Annual Report on Form 10-K for the year ended December 31, 2021 in the section entitled “Risk Factors”
−Removed: except as follows:
−Removed: The Spin-Off of the Company’s Cabinets business into a standalone publicly-traded company could cause disruptions to our business and could impact financial performance and operating results.
−Removed: The Spin-Off is complex in nature and unanticipated developments or changes, including challenges in executing the Spin-Off, could delay or prevent the completion of the proposed Spin-Off.
−Removed: The process of completing the proposed Spin-Off has been and is expected to continue to be time-consuming and involves significant costs and expenses.
−Removed: In addition, the full strategic and financial benefits that are expected to result from the Spin-Off may not be achieved, and there may be a loss of synergies from separating the businesses that could negatively impact the balance sheet, profit margins or earnings of both businesses.
−Removed: Further, there can be no assurance that the combined value of the common stock of each company following the Spin-Off will be equal to or greater than what the value of the Company’s common stock would have been had the proposed Spin-Off not occurred.
−Removed: The Company intends that the Spin-Off qualify as tax-free under the U.S.
−Removed: Internal Revenue Code of 1986, as amended.
−Removed: If subsequent to the Spin-Off it is determined that the transaction does not qualify for tax-free treatment for U.S.
−Removed: federal income tax purposes, the resulting tax liability to the Company and its stockholders could be substantial.
−Removed: The planned separation may be taxable in other countries around the world, and as a result may trigger substantial tax liability to the Company.
+Added: and in Part II, Item 1A of our Quarterly Report on Form 10-Q for the quarter ended June 30, 2022.
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.