Item 3. Legal Proceedings
ITEM 3. LEGAL PROCEEDINGS
Occasionally we are involved in various claims, lawsuits, regulatory
examinations, investigations and other legal matters arising, for the most part, in the ordinary course of business. The outcome of litigation
and other legal matters is inherently uncertain. In making a determination regarding accruals, using available information, the Company
evaluates the likelihood of an unfavorable outcome in legal or regulatory proceedings to which we are a party and records a loss contingency
when it is probable a liability has been incurred and the amount of the loss can be reasonably estimated.
Where we determine an unfavorable outcome is not probable or reasonably
estimable, we do not accrue for any potential litigation loss. These subjective determinations are based on the status of such legal or
regulatory proceedings, the merits of our defenses and consultation with legal counsel. Actual outcomes of these legal and regulatory
proceedings may materially differ from our current estimates. It is possible that resolution of one or more of the legal matters currently
pending or threatened could result in losses material to our consolidated results of operations, liquidity, or financial condition.
For information regarding legal proceedings, see Note 7 “Commitments
and Contingent Liabilities” in the notes to our audited consolidated financial statements included in this annual report, which
discussion we incorporate by reference into this Item.
ITEM 4. MINE
SAFETY DISCLOSURES .
Not applicable.
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PART II
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