−Removed: Our business is subject to many factors that could have a material adverse effect on our future performance, results of operations, financial condition, or cash flows and could cause our actual results to differ materially from those expressed or implied by forward-looking statements made in this Annual Report on Form 10-K.
+Added: Our business is subject to many factors that could have a material adverse effect on our future performance, results of operations, financial condition, or cash flows and could cause our actual results to differ materially from those expressed
+Added: or implied by forward-looking statements made in this Annual Report on Form 10-K.
Those risk factors are outlined below.
7 unchanged sentences
We cannot assure that we will be able to pass on to our customers any future increases in raw material costs in the form of price increases for our products.
−Removed: If our demand for raw materials were to decline such that we would not have need for the quantities
−Removed: required to be purchased under commitment agreements, we could incur additional charges that would affect our profitability.
+Added: If our demand for raw materials were to decline such that we would not have need for the quantities required to be purchased under commitment agreements, we could incur additional charges that would affect our profitability.
• Lack of availability of raw materials, including sourcing from some single suppliers, could negatively impact our ability to meet customer demand.
17 unchanged sentences
• A significant portion of our specialty materials business is under contracts with contractors or subcontractors of the U.S.
−Removed: These contracts are impacted by governmental priorities and are subject to potential fluctuations in funding or early termination, including for convenience, any of which could have a material adverse effect on our results of operations, financial condition, or cash flows.
+Added: government or directly with the U.S.
+Added: These contracts are impacted by governmental priorities, as well as shutdowns, and are subject to potential fluctuations in
+Added: funding or early termination, including for convenience, any of which could have a material adverse effect on our results of operations, financial condition, or cash flows.
Sales to U.S.
36 unchanged sentences
As a result, the life cycle of our products is often hard to predict.
−Removed: In order to maintain our profits and remain competitive, we must effectively respond to technological changes in our industry and successfully develop, manufacture, and market new or improved products in a cost-effective and timely manner.
+Added: In order to maintain our
+Added: profits and remain competitive, we must effectively respond to technological changes in our industry and successfully develop, manufacture, and market new or improved products in a cost-effective and timely manner.
As a result, we must commit substantial resources each year to research and development to maintain and enhance our technological capabilities and meet our customers’ changing needs.
23 unchanged sentences
If we were found to be infringing on the proprietary technology of others, we may be liable for damages, and we may be required to change our processes, redesign our products partially or completely, pay to use the technology of others, or stop using certain technologies or producing the infringing product entirely.
−Removed: Even if we ultimately prevail in an infringement suit, the existence of the suit could prompt customers to switch to products that are not the subject of infringement suits.
+Added: Even if we ultimately prevail in an infringement suit, the existence of the suit could prompt customers to switch to products that are not the subject
+Added: of infringement suits.
We may not prevail in any intellectual property litigation, and such litigation may result in significant legal costs or otherwise impede our ability to produce and distribute key products.
18 unchanged sentences
The occurrence of extraordinary events, including future terrorist attacks, the outbreak or escalation of war, armed hostilities, or a health-related epidemic cannot be predicted, but their occurrence can be expected to negatively affect the economy in general, as well as the markets for our products, and could result in production downtime.
−Removed: In addition, the damage from a direct attack on our facilities or other assets or facilities or other assets used by us could include loss of life or property damage, and our insurance coverage may not be sufficient to cover all of the damage incurred or securing coverage for these types of events may be prohibitively expensive.
+Added: In addition, the damage from a direct attack on our facilities or other assets or on facilities or other assets used by us could include loss of life or property damage, and our insurance coverage may not be sufficient to cover all of the damage incurred or securing coverage for these types of events may be prohibitively expensive.
• We face risks related to our foreign operations that may negatively affect our business.
53 unchanged sentences
• A substantial amount of indebtedness could adversely impact our business and limit our operational and financial flexibility.
−Removed: We have incurred, and may in the future incur, substantial amounts of indebtedness to support our operations.
+Added: We have incurred, and may in the future incur, substantial amounts of indebtedness to support our operations, including financing acquisitions or other investment opportunities.
To the degree that our indebtedness is at variable interest rates, increasing interest rates in the market will result in higher interest expense in our results of operations.
35 unchanged sentences
The process of integrating acquired operations into our existing operations may result in unforeseen operating difficulties and may require significant financial resources that would otherwise be available for the ongoing development or expansion of existing operations.
−Removed: In addition, our ability to realize the expected benefits from our acquisition of AMPAC is subject to several factors.
−Removed: These include our ability to retain key AMPAC personnel, our ability to maintain relationships with suppliers and customers of AMPAC, and our ability to integrate AMPAC into certain information technology systems, operational systems, procedures, or controls without disrupting its operations.
+Added: In addition, our ability to realize the expected benefits from our recent acquisitions is subject to several factors.
+Added: These include our ability to retain key personnel, our ability to maintain relationships with suppliers and customers, and our ability to integrate them into certain information technology systems, operational systems, procedures, or controls without disrupting their operations.
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.