6 unchanged sentences
These factors can be significantly adversely affected by a variety of factors beyond our control.
−Removed: The COVID-19 pandemic and the measures undertaken by governmental authorities to address it, are disrupting or preventing us from operating our business in the ordinary course and the duration of this interruption is currently unknown.
−Removed: This disruption combined with any associated economic and/or social instability or distress, is expected to have an adverse impact on our results of operations, financial condition and cash flows.
+Added: The COVID-19 pandemic and the measures undertaken by governmental authorities to address it, initially disrupted or prevented us from operating our business in the ordinary course.
+Added: Future disruptions and governmental actions combined with any associated economic and/or social instability or distress, can be expected to have an adverse impact on our results of operations, financial condition and cash flows.
On March 11, 2020, the World Health Organization characterized the outbreak of COVID-19 as a global pandemic and recommended containment and mitigation measures.
On March 13, 2020, the United States declared a national emergency concerning the outbreak, and since that date most states and municipalities have declared public health emergencies.
−Removed: As a result, there have been extraordinary and wide-ranging actions taken by federal, state and local public health and governmental authorities to contain and combat the outbreak and spread of COVID-19 across the United States, including quarantines and “shelter-in-place” orders which substantially restrict daily activities.
−Removed: In nearly all of the markets in which we build homes, construction operations have been deemed “essential” by the local governments and we have been able to maintain our operations through the date of this report, although in an altered and frequently more limited capacity due to various health, safety and operational precautions that we adopted in response to COVID-19.
−Removed: We are currently experiencing tempered traffic and orders pace and increases in order cancellation rates.
−Removed: We are uncertain of the potential full magnitude or duration of the business and economic impacts from COVID-19, which could include:
+Added: As a result, there have been extraordinary and wide-ranging actions taken by federal, state and local public health and governmental authorities to contain and combat the outbreak and spread of COVID-19 across the United States, including quarantines and “shelter-in-place” ("SIP") orders which substantially restricted daily activities.
+Added: Although many have since been at least partially lifted, many state and local governments may pause their efforts to re-open and may re-implement various closure and restrictive measures.
+Added: During the initial SIP orders, in nearly all of the markets in which we build homes, construction operations were deemed “essential” by the local governments and we had been able to maintain our operations.
+Added: While we are currently experiencing exceptionally high traffic and orders pace, we are uncertain of the potential full magnitude or duration of the business and economic impacts from COVID-19, which could include:
• declining orders and declining closing volume and associated revenues;
5 unchanged sentences
• inefficiencies and increased costs in our development, construction and administrative processes due to social distancing and personal protective equipment requirements;
−Removed: • limitations on employee resources and availability, including due to sickness, government restrictions or the desire of employees to avoid contact with large groups of people;
+Added: • limitations on employee resources and availability, including due to sickness, school closures, government restrictions or the desire of employees to avoid contact with large groups of people;
• should any key employees become ill with COVID-19 and unable to work, the attention of management could be diverted, and
1 unchanged sentence
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.