11 unchanged sentences
government provides a significant portion of our revenue.
−Removed: In 2023, approximately 70% of our consolidated revenue was from the U.S.
+Added: Approximately 70% of our consolidated revenue was from the U.S.
Levels of U.S.
2 unchanged sentences
Decreases in U.S.
−Removed: government defense and other spending or
−Removed: changes in spending allocation or priorities could result in one or more of our programs being reduced, delayed or terminated, which could impact our financial performance.
+Added: government defense and other spending or changes in spending allocation or priorities could result in one or more of our programs being reduced, delayed or terminated, which could impact our financial performance.
For additional information relating to U.S.
3 unchanged sentences
Early each calendar year, the President of the United States presents to the Congress the budget for the upcoming fiscal year.
−Removed: This budget proposes funding levels for every federal agency and is the result of months of policy and program reviews throughout the executive branch.
−Removed: For the remainder of the year, the Appropriations and Authorization Committees of the Congress review the president’s budget proposals and establish the funding levels for the upcoming fiscal year.
+Added: This budget proposes funding levels for every federal agency and is typically the result of months of policy and program reviews throughout the executive branch.
+Added: For the remainder of the year, the Appropriations and Authorization Committees of the Congress typically review the president’s budget proposals and establish the funding levels for the upcoming fiscal year.
Once these levels are enacted into law, the Executive Office of the President administers the funds to the agencies.
24 unchanged sentences
In some cases, audits may result in disputes with the respective government agency that can result in negotiated settlements, arbitration or litigation.
−Removed: Moreover, new laws, regulations or standards, or
−Removed: changes to existing ones, can increase our performance and compliance costs and reduce our revenue and earnings.
+Added: Moreover, new laws, regulations or standards, or changes to existing ones, can increase our performance and compliance costs and reduce our revenue and earnings.
Our Aerospace segment is subject to changing customer demand for business aircraft.
18 unchanged sentences
Misconduct by suppliers, such as a failure to comply with procurement regulations or engaging in unauthorized activities, may harm our future revenue, earnings and margin.
−Removed: We sometimes rely on only one or two sources of supply, and any disruption in our supply chain could have an adverse effect on our ability to meet our customer commitments.
+Added: We sometimes rely on only one or two sources of supply, and any disruption in our supply chain could have an adverse effect on our ability to meet our customer commitments and could adversely affect our business, results of operations and financial condition.
For example, some of our operating segments rely on the supply of semiconductors for the manufacture of our products, and any inability of or delay by our suppliers to meet our order demands (including due to the suppliers’ competing commercial priorities, any military conflict resulting in a disruption of manufacturing or trade relations, or any other business disruption) could delay or disrupt our ability to procure semiconductors.
−Removed: Our ability to perform our obligations to our customers, and our future revenue, earnings and margin, may be materially adversely affected if (1) any one or more of our suppliers is unable to provide the agreed-upon materials, or perform the agreed-upon services in a timely and cost-effective manner, or engages in misconduct or other improper activities or (2) we are unable to otherwise obtain necessary materials, components, subsystems or services in a timely and cost-effective manner.
+Added: Our ability to perform our obligations to our customers, and our future revenue, earnings and margin, may be materially adversely affected if (1) any one or more of our suppliers is unable to or otherwise fails to, provide the agreed-upon materials or perform the agreed-upon services in a timely and cost-effective manner, or engages in misconduct or other improper activities or (2) we are unable to otherwise obtain necessary materials, components, subsystems or services in a timely and cost-effective manner.
Our success depends in part on our ability to develop new products and technologies and maintain a qualified workforce to meet the needs of our customers.
Many of the products and services we provide involve sophisticated technologies and engineering, with related complex manufacturing and system-integration processes.
−Removed: Our customers’ requirements change and evolve
−Removed: Accordingly, our performance depends in part on our ability to continue to develop, manufacture and provide innovative products and services and bring those offerings to market quickly at cost-effective prices.
+Added: Our customers’ requirements change and evolve regularly.
+Added: Accordingly, our performance depends in part on our ability to continue to develop, manufacture and provide innovative products and services and bring those offerings to market quickly at
+Added: cost-effective prices.
Many of our new products must meet extensive and time-consuming regulatory requirements that are often outside our control and may result in unanticipated delays.
60 unchanged sentences
The COVID-19 pandemic has had, and could continue to have, a negative effect on our business, results of operations and financial condition.
+Added: Other outbreaks of contagious diseases, including new variants of COVID-19, or other adverse public health developments in countries where we operate or our customers are located, could similarly adversely affect our business.
This includes disruptions or restrictions on our employees’ ability to work effectively, temporary closures of our facilities and the facilities of our customers, and the imposition of quarantine and travel restrictions that have and may in the future negatively affect demand for our products and services and result in supply-chain disruptions.
1 unchanged sentence
Any cost increases that result from these effects may not be fully recoverable on our contracts or adequately covered by insurance.
−Removed: Other outbreaks of contagious diseases, including new variants of COVID-19, or other adverse public health developments in countries where we operate or our customers are located, could similarly adversely affect our business, results of operations and financial condition in the future.
Global climate change could negatively affect our business.
10 unchanged sentences
These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict.
−Removed: Therefore, actual future results and trends
−Removed: may differ materially from what is forecast in forward-looking statements due to a variety of factors, including the risk factors discussed in this Form 10-K.
+Added: Therefore, actual future results and trends may differ materially from what is forecast in forward-looking statements due to a variety of factors, including the risk factors discussed in this Form 10-K.
All forward-looking statements speak only as of the date of this report or, in the case of any document incorporated by reference, the date of that document.
3 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.