2 unchanged sentences
Risks Related to Our Industry
−Removed: Our business can be significantly impacted by economic conditions, customer business cycles and seasonal factors.
+Added: Our business can be significantly impacted by economic conditions, customer business cycles, government policies, and seasonal factors.
Our business is dependent on the freight shipping needs of our customers, which can be heavily impacted by economic conditions and other factors affecting their businesses.
1 unchanged sentence
Adverse economic conditions may also require us to increase our reserve for bad debt losses.
+Added: Rapid changes in government or political policies, including border or trade policies and tariffs, can also impact our customers operations and reduce their need for freight shipping, or may have an impact on the cost or availability of our equipment.
In addition, our results of operations may be affected by seasonal factors.
1 unchanged sentence
Any of these factors could have a significant adverse effect on our financial condition and results of operations.
−Removed: Our business can be significantly impacted by the effects of national or international health pandemics on general economic conditions and the operations of our customers and third-party suppliers and service providers.
−Removed: Our operations can be heavily impacted by the effects of a widespread outbreak of contagious disease.
−Removed: The effects of a pandemic may disrupt or restrict the freight shipping activities of some of our customers, on which our business is dependent.
−Removed: In addition, adverse economic conditions caused by a pandemic may also require us to increase our reserve for bad debt losses.
−Removed: Furthermore, pandemic related social and economic disruptions may lead to other events which could negatively impact our operations including service limitations of our third-party purchased transportation providers, reduced availability of drivers and other key employees, disruptions in the procurement of revenue equipment, restrictions at U.S.
−Removed: ports of call, excess capacity or rate reductions within the intermodal or trucking industries, inability of suppliers to continue activities, or volatile financial credit markets.
−Removed: The extent to which a pandemic will impact general economic and business conditions is highly uncertain and unpredictable;
−Removed: however, any of these factors could have a significant adverse effect on our financial condition and results of operations.
Extreme or unusual weather conditions can disrupt our operations, impact freight volumes, and increase our costs, all of which could have a material adverse effect on our business results.
12 unchanged sentences
If current regulatory requirements become more stringent or new environmental laws and regulations regarding climate change are introduced, we could be required to make significant expenditures or abandon certain activities, which could have a material adverse effect on our business and operating results.
−Removed: We depend on third parties in the operation of our business.
+Added: We depend on third parties in the operation of our business, particularly rail service providers, transportation equipment manufacturers, third party carriers and independent contractors.
Our JBI business segment utilizes railroads in the performance of its transportation services.
22 unchanged sentences
We have experienced substantial increases in the severity of auto liability claims which have exceeded our insurance coverage layers, which has adversely impacted our operating results in recent periods.
−Removed: If the number or severity of claims for which we are self-insured continues to increase, our operating results could be further adversely affected.
+Added: If the number of claims for which we are self-insured increases or the severity of such claims continues to increase, our operating results could be further adversely affected.
We have policies in place for 2025 with substantially the same terms as our 2024 policies for personal injury, property damage, workers’ compensation, and cargo loss or damage.
18 unchanged sentences
Also, certain customers that operate private fleets to transport their own freight could decide to expand their operations, thereby reducing their need for our services.
+Added: Our business can be significantly impacted by the effects of national or international health pandemics on general economic conditions and the operations of our customers and third-party suppliers and service providers.
+Added: Our operations can be heavily impacted by the effects of a widespread outbreak of contagious disease.
+Added: The effects of a pandemic may disrupt or restrict the freight shipping activities of some of our customers, on which our business is dependent.
+Added: In addition, adverse economic conditions caused by a pandemic may also require us to increase our reserve for bad debt losses.
+Added: Furthermore, pandemic related social and economic disruptions may lead to other events which could negatively impact our operations including service limitations of our third-party purchased transportation providers, reduced availability of drivers and other key employees, disruptions in the procurement of revenue equipment, restrictions at U.S.
+Added: ports of call, excess capacity or rate reductions within the intermodal or trucking industries, inability of suppliers to continue activities, or volatile financial credit markets.
+Added: The extent to which a pandemic will impact general economic and business conditions is highly uncertain and unpredictable;
+Added: however, any of these factors could have a significant adverse effect on our financial condition and results of operations.
Risks Related to Our Business
8 unchanged sentences
Recently issued rulemaking by the U.S.
−Removed: Department of Labor, which takes effect on March 11, 2024, and the laws of several states, including California, apply stricter tests for determining whether an independent contractor should be classified as an employee.
+Added: Department of Labor, which took effect on March 11, 2024, and the laws of several states, including California, apply stricter tests for determining whether an independent contractor should be classified as an employee.
We believe we are in compliance with all applicable independent contractor classification requirements.
7 unchanged sentences
We accrue a provision for a litigation matter according to applicable accounting standards based on the ongoing assessment of the strengths and weaknesses of the litigation, its likelihood of success, and an evaluation of the possible range of loss.
−Removed: Our inability to defend ourselves against a significant litigation claim could have a material adverse effect on our financial results.
+Added: Our inability to defend ourselves against one or more significant litigation claims could have a material adverse effect on our financial results.
We rely significantly on our information technology systems, a disruption, failure or security breach of which or an inability to keep pace with technological advances could have a material adverse effect on our business.
23 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.