For information regarding factors that could affect our business, financial condition or results of operations, see the risk factors discussed in Part I, Item 1A.
−Removed: “Risk Factors” in our 2019 Form 10-K.
−Removed: In light of developments relating to the COVID-19 pandemic occurring subsequent to the filing of our 2019 Form 10-K, we are supplementing the risk factors discussed in our 2019 Form 10-K with the following risk factor, which should be read in conjunction with the risk factors contained in our 2019 Form 10-K.
−Removed: The scale and scope of the COVID-19 outbreak and resulting pandemic is unknown and is expected to adversely impact our business at least for the near term.
−Removed: The overall impact on our business, financial position, results of operations and cash flows could be material.
−Removed: On March 11, 2020, the WHO characterized COVID-19 as a pandemic, and on March 13, 2020, the U.S.
−Removed: declared a national emergency concerning the outbreak.
−Removed: The COVID-19 pandemic has adversely affected global economies, financial markets and the overall environment for our business, and the extent to which it may impact our future results of operations and overall financial performance remains uncertain.
−Removed: The scale and scope of the COVID-19 pandemic may heighten the potential adverse effects on our business, financial position, results of operations and cash flows, including the impact of:
−Removed: the downturn in the U.S.
−Removed: real estate market and the decline in existing home sales on our real estate customer acquisition channel for our home service plans;
−Removed: state and local government precautions to mitigate the spread of COVID-19, including shelter-in-place orders or similar measures, which could limit our ability to provide services if our services cease to be deemed “essential services” exempt from shelter-in-place orders or similar measures, or could potentially create an influx of service requests once shelter-in-place orders or similar measures are lifted;
−Removed: any decline in consumer demand for our home service plans, whether due to weakening general economic conditions ( especially as such conditions may affect existing home sales, unemployment, collectability of consumer debt, and consumer confidence or spending levels), the failure of our marketing efforts, concern about usage of our services during the pandemic or other reasons, which may negatively affect our customer acquisition or renewal channels;
−Removed: our dependence on contractors and third-party vendors, including business process outsourcers and third-party component suppliers, each of which could experience disruptions in productivity due to shelter-in-place orders or their own ability to secure workers and supplies, and which could affect our ability to provide timely and effective service to our customers or lead to increases in appliance, parts and system prices, and other operating costs;
−Removed: cybersecurity breaches, disruptions or failures in our technology systems or Internet systems in the U.S., failure to protect the security of personal information about our customers, and any loss of productivity, which risks may be heightened because we have transitioned our employees to work from their homes;
−Removed: special risks applicable to operations outside the U.S.
−Removed: by us or our business process outsource providers, as different jurisdictions may apply differing regulations or precautions to address COVID-19, may experience differing impacts on COVID-19 on their populations, and have differing access to Internet and technology capabilities to enable employees or contractors to work from home, among other differences.
−Removed: In addition, the COVID-19 pandemic may adversely impact our business, financial position, results of operations and cash flows in other areas described in the risk factors contained in our 2019 Form 10-K, including:
−Removed: our ability to successfully implement our business strategies;
−Removed: our ability to attract, retain and maintain positive relations with third-party contractors and vendors;
−Removed: adverse credit and financial markets impeding access and leading to increased financing costs;
−Removed: our ability to attract and retain key personnel;
−Removed: compliance with, or violation of, laws and regulations, including consumer protection laws, increasing our legal and regulatory expenses;
−Removed: increases in tariffs or changes to import/export regulations;
−Removed: requirement to recognize and record impairment charges;
−Removed: failure of our marketing efforts to be successful or cost-effective;
−Removed: special risks applicable to operations outside the U.S.
−Removed: by us or our business process outsource providers;
−Removed: the effects of our substantial indebtedness and the limitations contained in the agreements governing such indebtedness;
−Removed: our ability to generate the significant amount of cash needed to fund our operations and service our debt obligations;
−Removed: other factors described in our 2019 Form 10-K and from time to time in documents that we file with the SEC.
−Removed: The duration and extent of the impact from the COVID-19 pandemic depends on future developments that cannot be accurately predicted at this time, such as the severity and transmission rate of the virus, the extent and effectiveness of containment actions and the impact of these and other factors on our employees, customers, suppliers and business partners.
−Removed: Such impact on our business, financial position, results of operations and cash flows could be material.
+Added: “Risk Factors” in our 2019 Form 10-K and Part II, Item 1A, “Risk Factors” in our Quarterly Report on Form 10-Q for the quarter ended March 31, 2020.
+Added: Except as described in our Quarterly Report on Form 10-Q for the quarter ended March 31, 2020, there have been no material changes to the risk factors disclosed in our 2019 Form 10-K.
+Added: The risks described in our 2019 Form 10-K are not the only risks we face.
+Added: Additional risks and uncertainties not currently known to us or that we currently deem to be immaterial also may materially adversely affect our business, financial condition or results of operations.
Separation and Distribution Agreement, dated as of September 28, 2018, by and between ServiceMaster Global Holdings, Inc.
21 unchanged sentences
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
+Added: August 6, 2020
frontdoor, inc.
2 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.