6 unchanged sentences
The company’s business and financial performance, including collection of its accounts receivable, may be materially adversely affected by current and future economic conditions that may cause a decline in business and consumer spending, a reduction in the availability of credit and decreased growth of its existing customers, resulting in customers electing to delay the replacement of aging equipment.
−Removed: Higher energy costs, fluctuating interest rates, weakness in the residential construction, housing and home improvement markets, financial market volatility, inflation, recession, global hostilities and acts of terrorism have and may in the future also adversely affect the company’s business and financial performance.
+Added: Higher energy costs, fluctuating interest rates, weakness in the residential construction, housing and home improvement markets, financial market volatility, inflation, recession, global hostilities and acts of terrorism, tariffs or changes in tariff policies have and may in the future also adversely affect the company’s business and financial performance.
Additionally, the company may experience difficulties in scaling its operations due to economic pressures in the U.S.
57 unchanged sentences
Fluctuations in interest rates could adversely affect the company's results of operations and financial position.
−Removed: The company's profitability has been and may continue to be adversely affected during any periods of unexpected or rapid increases in interest rates.
+Added: The company's profitability has been and may in the future be adversely affected during any periods of unexpected or rapid increases in interest rates.
The company maintains a revolving credit facility, which, at December 28, 2024, bore interest at 1.375% above Secured Overnight Financing Rate ("SOFR") plus a spread adjustment of 0.10% per annum.
37 unchanged sentences
Any delays could result in increased development costs or deflect resources from other projects.
−Removed: The occurrence of any of these risks could cause a substantial change in the design, delay in the development, or abandonment of new technologies and products.
+Added: The occurrence of any of these risks could cause a substantial change in the design, delay in the development, or abandonment of new
+Added: technologies and products.
Consequently, there can be no assurance that the company will develop new technologies superior to the company’s current technologies or successfully bring new products to market.
9 unchanged sentences
The company uses large amounts of stainless steel, aluminized steel and other commodities in the manufacture of its products.
−Removed: A significant increase in the price of steel or any other commodity, due to tariffs or otherwise, has and may continue to adversely affect the company’s operating results.
−Removed: In addition, we have experienced and continue to experience disruptions to parts of our supply chain.
−Removed: Unanticipated delays in delivery of raw materials and component inventories by suppliers—including delays due to capacity constraints, labor disputes, impaired financial condition of suppliers, natural disasters, extreme weather patterns and climate change, pandemics or other events outside our control— have and may continue to increase the company's production costs, cause delays in the shipment of products or impair the ability of the company to satisfy customer demand.
+Added: A significant increase in the prices of steel or any other commodity, changes in trade policies, including the imposition of tariffs or other trade restrictions, have in the past and have the potential to in the future to create upward pressure on commodity prices leading to a potentially unfavorable impact on operating results.
+Added: Unanticipated delays in delivery of raw materials and component inventories by suppliers—including delays due to capacity constraints, labor disputes, attacks on maritime ocean shipments, impaired financial condition of suppliers, natural disasters, extreme weather patterns and climate change, pandemics or other events outside of our control— have and may increase the company's production costs, cause delays in the shipment of products or impair the ability of the company to satisfy customer demand.
An interruption in or the cessation of an important supply by any third party and the company’s inability to make alternative arrangements in a timely manner, or at all, could have a material adverse effect on the company’s business, financial condition and operating results.
29 unchanged sentences
The company may be unable to manage its growth.
−Removed: The company has recently experienced rapid growth in its business.
−Removed: Continued growth could place a strain on the company’s management, operations and financial resources.
+Added: The company has and may in the future experience rapid growth in its business, which could place a strain on the company’s management, operations and financial resources.
There also will be additional demands on the company’s sales, marketing and information systems and on the company’s administrative infrastructure as it develops and offers additional products and enters new markets.
50 unchanged sentences
Moreover, depending upon the nature of any transaction, the company may experience a charge to earnings, which could be material and have an adverse impact upon the market price of the company’s common stock.
+Added: We are pursuing a plan separate our Food Processing business through a spin-off into an independent publicly traded company.
+Added: The proposed spin-off may not be completed on the timeline currently contemplated or at all and may not achieve the intended benefits.
+Added: As part of our previously-announced strategic review of our business portfolio as part of the Board’s efforts to maximize shareholder value, we have announced a plan to separate our Food Processing business through a spin-off into an independent publicly traded company, which is currently expected to be completed by early 2026.
+Added: Unanticipated developments could delay or prevent the proposed spin-off or cause the proposed spin-off to occur on terms or conditions that are less favorable and/or different than expected.
+Added: Even if the transaction is completed, we may not realize all or any of the anticipated benefits from the spin-off.
+Added: Expenses incurred to accomplish the proposed spin-off may be significantly higher than what we currently anticipate.
+Added: Executing the proposed spin-off also requires significant time and attention from management, which could distract them from other tasks in operating our business.
+Added: Following the proposed spin-off, the combined value of the common stock of the two publicly traded companies may not be equal to or greater than what the value of our common stock would have been had the proposed spin-off not occurred.
The company’s business could suffer in the event of a work stoppage by its unionized labor force.
4 unchanged sentences
Elgin, Illinois;
−Removed: Easton, Pennsylvania and Lodi, Wisconsin that extend through February 2027, December 2026, July 2025, June 2027 and December 2024, respectively.
+Added: Easton, Pennsylvania and Lodi, Wisconsin that extend or extended through February 2027, December 2026, July 2025, June 2027 and December 2027, respectively.
The company also has a union workforce at its manufacturing facility in the Philippines under a contract that extends through June 2026.
−Removed: Approximately 1% of the company's workforce is covered by collective bargaining agreements that expire within one year.
+Added: Less than 1% of the company's workforce is covered by collective bargaining agreements that expire within one year.
Any future strikes, employee slowdowns or similar actions by one or more unions, in connection with labor contract negotiations or otherwise, could have a material adverse effect on the company’s ability to operate the company’s business.
1 unchanged sentence
The company depends significantly on the company’s executive officers and certain other key personnel, who could be difficult to replace.
−Removed: While the company has employment agreements with certain key executives, the company cannot be certain that it will succeed in retaining key personnel or their services under existing agreements.
+Added: While the company has an employment agreement with a key executive, the company cannot be certain that it will succeed in retaining key personnel or their services under existing agreements.
The incapacity, inability or unwillingness of certain personnel to perform their services may have a material adverse effect on the company.
4 unchanged sentences
The company has filed numerous patent applications covering the company’s proprietary technology.
−Removed: Notwithstanding the precautions the company takes to protect its intellectual property rights, it is possible that third parties may copy or otherwise obtain and use the company’s proprietary technology without authorization or may otherwise infringe on the company’s rights.
+Added: It is possible that third parties may copy or otherwise obtain and use the company’s proprietary technology without authorization or may otherwise infringe on the company’s rights.
In some cases, including with respect to a number of the company’s most important products, there may be no effective legal recourse against duplication by competitors as the legal systems of certain countries, particularly certain developing countries, do not favor the enforcement of patents and other intellectual property protection.
11 unchanged sentences
If the company is unable to obtain such licenses, it also may not be able to redesign the company’s products or services to avoid infringement, which could materially adversely affect the company’s business, financial condition and operating results.
−Removed: The company may be subject to information technology system failures, network disruptions, cybersecurity attacks and breaches in data security, which may materially adversely affect the company’s operations, financial condition and operating results.
+Added: The company is subject to information technology system failures, network disruptions, cybersecurity attacks and breaches in data security, which may materially adversely affect the company’s operations, financial condition and operating results.
The company depends on information technology as an enabler to improve the effectiveness of its operations and to interface with its customers, as well as to maintain financial accuracy and efficiency.
Information technology system failures, including suppliers’ or vendors’ system failures, have and could in the future disrupt the company’s operations by causing transaction errors, processing inefficiencies, delays or cancellation of customer orders, the loss of customers, impediments to the manufacture or shipment of products, other business disruptions, or the loss of or damage to intellectual property through a security breach.
−Removed: The company’s information systems, or those of its third-party service providers, could also be penetrated by outside parties intent on extracting information, corrupting information or disrupting business processes.
+Added: The company’s information systems, or those of its third-party service providers, have and may in the future be intent on extracting information, corrupting information or disrupting business processes.
Such unauthorized access could materially disrupt the company’s business, increase costs and/or result in the loss of assets.
39 unchanged sentences
The directive requires the rules to initially become effective for fiscal years starting on or after December 31, 2023.
−Removed: While it is uncertain whether the United States will enact legislation to adopt Pillar II, numerous countries have enacted legislation, or have indicated their intent to adopt legislation, to implement certain aspects of Pillar II effective January 1, 2024, and the remaining global minimum tax rules by January 1, 2025.
+Added: While it is uncertain whether the United States will enact legislation to adopt Pillar II, numerous countries have enacted legislation, or have indicated their intent to adopt legislation, to implement
+Added: certain aspects of Pillar II effective January 1, 2024, and the remaining global minimum tax rules by January 1, 2025.
The OECD and implementing countries are expected to continue to make further revisions to their legislation and release additional guidance.
9 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.