−Removed: You should consider carefully the following material factors regarding risks relating to an investment in our securities and when reading the information, including the financial information, contained in this Annual Report on Form 10-K.
+Added: You should carefully consider the following material factors regarding risks relating to an investment in our securities and when reading the information, including the financial information, contained in this Annual Report on Form 10-K.
Shareholders are cautioned that these and other factors may affect future performance and cause actual results to differ materially from those that may be anticipated.
57 unchanged sentences
Our business is subject to hazards common to chemical businesses, any of which could interrupt our production and adversely affect our results of operations.
−Removed: Our business is subject to hazards common to chemical manufacturing, blending, storage, handling and transportation, including explosions, fires, severe weather, natural disasters, mechanical failure, unscheduled downtime, transportation interruptions, traffic accidents involving our delivery vehicles, chemical spills, discharges or releases of toxic or hazardous substances or gases and other risks.
+Added: Our business is subject to hazards common to chemical manufacturing, blending, storage, handling and transportation, including explosions, fires, severe weather, natural disasters, mechanical failure, unscheduled downtime, transportation interruptions, traffic accidents involving our delivery vehicles, derailments, chemical spills, discharges or releases of toxic or hazardous substances or gases and other risks.
These hazards could cause personal injury and loss of life, severe damage to or destruction of property and equipment, and environmental contamination.
9 unchanged sentences
In the conduct of our operations, we have handled and do handle materials that are considered hazardous, toxic or volatile under federal, state and local laws.
−Removed: The accidental release of such products cannot be completely eliminated.
+Added: The potential for the accidental release of such products cannot be completely eliminated.
In addition, we operate or own facilities located on or near real property that was formerly owned and operated by others.
12 unchanged sentences
The costs of transporting our products or necessary raw materials could be negatively affected by factors outside of our control, including rail service interruptions or rate increases, extreme weather events, tariffs, rising fuel costs and capacity constraints.
−Removed: Recently, the unprecedented congestion in ocean shipping has, and will continue to, adversely impact the reliability of our imported raw materials, and transport driver shortages have caused extended lead times for domestic shipments.
−Removed: In addition, rail shipments have become increasingly unreliable, with significant delays in service and increased costs.
+Added: Over the last few years, unprecedented congestion in ocean shipping adversely impacted the reliability of our imported raw materials, and transport driver shortages caused extended lead times for domestic shipments.
+Added: In addition, rail shipments can be unreliable, with significant delays in service and increased costs.
+Added: The impacts of recent high-profile derailments could further degrade service levels and increase costs.
Significant delays or increased costs relating to transportation could materially affect our financial condition and results of operations.
9 unchanged sentences
Disruptions in transportation are common, are often out of our control, and can happen suddenly and without warning.
−Removed: Rail limitations, such as limitations in rail capacity, availability of railcars, workforce shortages and adverse weather conditions have disrupted or delayed rail shipments in the past and could do so in the future.
+Added: Rail limitations, such as limitations in rail capacity, availability of railcars, workforce shortages, derailments, embargoes and adverse weather conditions have disrupted or delayed rail shipments in the past and could do so in the future.
Barge shipments are delayed or impossible under certain circumstances, including during times of high or low water levels, when waterways are frozen and when locks and dams are inoperable.
23 unchanged sentences
Broader restrictions on hazardous material movements could lead to additional investment and could change where and what products we provide.
−Removed: The occurrence of extraordinary events, including future terrorist attacks, wars, global health developments and pandemics (including the COVID-19 outbreak), or escalation of hostilities, cannot be predicted, but their occurrence can be expected to negatively affect the economy in general, and specifically the markets for our products.
+Added: The occurrence of extraordinary events, including future terrorist attacks, wars, global health developments and pandemics, or escalation of hostilities, cannot be predicted, but their occurrence can be expected to negatively affect the economy in general, and specifically the markets for our products.
The resulting damage from a direct attack on our assets, or assets used by us, could include loss of life and property damage.
10 unchanged sentences
Environmental, health and safety, transportation and storage laws and regulations cause us to incur substantial costs and may subject us to future liabilities and risks.
−Removed: We are subject to numerous federal, state and local environmental, health and safety laws and regulations in the jurisdictions in which we operate, including the management, storage, transportation and disposal of chemicals and wastes;
+Added: We are subject to numerous federal, state and local environmental, health, safety and land use laws and regulations in the jurisdictions in which we operate, including the management, storage, transportation and disposal of chemicals and wastes;
product regulation;
air water and soil contamination;
+Added: land use, fire code and zoning;
and the investigation and cleanup of any spills or releases that may result from our management, handling, storage, sale, or transportation of chemicals and other products.
1 unchanged sentence
Ongoing compliance with such laws and regulations is an important consideration for us and we invest substantial capital and incur significant operating costs in our compliance efforts.
−Removed: In addition, societal concerns regarding the safety of chemicals in commerce and their potential impact on the environment have resulted in a growing trend towards increasing levels of product safety and environmental protection regulations.
+Added: In addition, societal concerns regarding the safety of chemicals in commerce and their potential impact on the environment have resulted in a growing trend towards increasing levels of product safety and environmental protection regulations and restrictions on the locations and operations of chemical facilities.
These concerns have led to, and could continue to result in, more stringent regulatory intervention by governmental authorities.
In addition, these concerns could influence public perceptions, impact the commercial viability of the products we sell and increase the costs to comply with increasingly complex regulations, which could have a negative impact on our business, financial condition and results of operations.
−Removed: In addition, we operate a fleet of more than 200 commercial vehicles, primarily in our Water Treatment Group, which are highly regulated, including by the U.S.
−Removed: Department of Transportation (“DOT”).
+Added: In addition, we operate a fleet of more than 250 commercial vehicles, primarily in our Water Treatment Group, which are highly regulated, including by the DOT.
The DOT governs transportation matters including authorization to engage in motor carrier service, including the necessary permits to conduct our businesses, equipment operation, and safety.
6 unchanged sentences
We have in the past been, and may in the future be, subject to claims relating to exposure to hazardous materials and the associated liabilities may be material.
−Removed: Our food, pharmaceutical and health and nutrition products are subject to government regulation, both in the United States and abroad, which could increase our costs significantly and limit or prevent the sale of such products.
−Removed: The manufacture, packaging, labeling, advertising, promotion, distribution and sale of our food, pharmaceutical pesticide and health and nutrition products are subject to regulation by numerous national and local governmental agencies in the United States and other countries.
+Added: Many of our products, particularly our food, pharmaceutical and health and nutrition products are subject to government regulation, both in the United States and abroad, which could increase our costs significantly and limit or prevent the sale of such products.
+Added: The manufacture, packaging, labeling, advertising, promotion, distribution and sale of many of our products, but our food, pharmaceutical, pesticide and health and nutrition products in particular, are subject to regulation by numerous national and local governmental agencies in the United States and other countries.
The primary regulatory bodies in the United States are the Food and Drug Administration (the “FDA”), the Environmental Protection Agency, the United States Department of Agriculture and the Federal Trade Commission, and we are also subject to similar regulators in other countries.
4 unchanged sentences
Approvals or licensing may be conditioned on reformulation of products or may be unavailable with respect to certain products or product ingredients.
−Removed: Any of these government agencies, as well as legislative bodies, can change existing regulations, or impose new ones, or could take aggressive measures, causing or contributing to a variety of negative consequences, including:
+Added: Any of these government agencies, as well as legislative bodies, can change existing regulations, or impose new ones, or could take aggressive measures, causing or contributing to a variety of negative consequences, which may include one or more of the following:
• stopping the sale of products,
19 unchanged sentences
We are party to a credit agreement (the “Credit Agreement”) with U.S.
−Removed: Bank National Association and other lenders (collectively, the “Lenders”), which includes secured revolving credit facilities (the “Revolving Loan Facility”) totaling $250.0 million.
+Added: Bank National Association ("U.S.
+Added: Bank") and other lenders (collectively, the “Lenders”), which includes secured revolving credit facilities (the “Revolving Loan Facility”) totaling $250.0 million.
The Revolving Loan Facility includes a $10.0 million letter of credit subfacility and $25.0 million swingline subfacility.
24 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.