17 unchanged sentences
The transportation industry often experiences significant difficulty in attracting and retaining qualified drivers and independent contractors.
−Removed: This shortage is exacerbated by several factors, including demand from competing industries, such as manufacturing, construction and farming, demand from other transportation companies, and the impact of regulations, including CSA and hours of service rules, the temporary closure of commercial driver schools during the COVID-19 outbreak, and other difficulties attracting and training new drivers in the current socially distanced environment.
+Added: This shortage is exacerbated by several factors, including demand from competing industries, such as manufacturing, construction and farming, demand from other transportation companies, and the impact of regulations, including CSA and hours of service rules and other difficulties attracting and training new drivers.
Economic conditions affecting operating costs such as fuel, insurance, equipment and maintenance costs can negatively impact the number of qualified independent contractors available to us.
22 unchanged sentences
In addition, the CSA program could increase competition and related compensation and recruitment costs for drivers and independent contractors by reducing the pool of qualified drivers if existing drivers exit the profession, become disqualified due to low scores or as carriers focus recruiting efforts on drivers with the best relative safety scores.
−Removed: The EPA and the NHTSA jointly developed standards for various vehicles, including heavy duty trucks, that were adopted in August 2011 and cover model years 2014 through 2018.
−Removed: These standards are designed to reduce GHG emissions and improve fuel economy for heavy duty trucks.
−Removed: In August 2016, the EPA and NHTSA finalized the second phase of these standards which will further reduce GHG emissions and fuel consumption for heavy duty trucks through model year 2027.
+Added: The EPA and the NHTSA jointly developed new standards for various vehicles, including heavy duty trucks, that were adopted in August 2011 and cover model years 2014 through 2018.
+Added: The standard adopted for heavy duty trucks was intended to achieve a reduction in CO 2 and fuel consumption ranging from 7% to 20% by model year 2017.
+Added: In August 2016, the EPA and NHTSA finalized the second phase of these standards which will further reduce greenhouse gas emissions and fuel consumption for heavy duty trucks through model year 2027.
+Added: In December of 2022, the EPA finalized an additional phase of standards which is intended to reduce nitrous oxide (NOx) emissions to 0.035 grams per horsepower-hour during normal operation, 0.05 grams at low load and 10.0 grams at idle for vehicles with model years 2027 and above.
Compliance with these federal and state requirements has increased the cost of our equipment and may further increase the cost of replacement equipment in the future.
22 unchanged sentences
Because we have a significant concentration of customers within the automotive industry, our freight volumes and revenues were significantly affected by the closure of North American automotive manufacturing facilities beginning in late March of 2020.
−Removed: Our automotive customers resumed operations during the second quarter of 2020 and have not been materially disrupted during 2021.
−Removed: Any future delays or interruptions of automotive production and other consumer activity affecting our customers that could result from the ongoing outbreak of the Delta and Omicron variants or any future wave of the virus or other similar outbreaks could further adversely affect our business.
+Added: Our automotive customers resumed operations during the second quarter of 2020 and have not been materially disrupted during 2021 or 2022.
+Added: Any future delays or interruptions of automotive production and other consumer activity affecting our customers that could result from any future wave of the virus or other similar outbreaks could further adversely affect our business.
In addition, the implementation of measures to protect the health and safety of our employees, customers, vendors and the general public, or any state of federal vaccination mandates, may disrupt our ability to efficiently manage personnel and operations and to recruit and retain driver and non-driver personnel, which could have a material adverse effect on our operating results. Further, negative financial results, an economic downturn or uncertainty, or a tightening of credit markets caused by COVID-19 or other similar outbreaks could have a material adverse effect on our liquidity and our ability to effectively meet our short- and long-term financial obligations.
23 unchanged sentences
Future labor disputes involving our customers could affect our operations.
−Removed: If the UAW and our automotive customers and their suppliers are unable to negotiate new contracts in the future and our customers’
+Added: If the unions and our automotive customers and their suppliers are unable to negotiate new contracts in the future and our customers’
plants experience slowdowns or closures as a result, our revenue and profitability could be negatively impacted.
42 unchanged sentences
On April 23, 2021, a decree was published that reforms various laws in Mexico regarding labor outsourcing.
−Removed: Under this new decree, operating companies will no longer be able to source their labor resources used to carry out core business functions from service entities or third-party providers and could be subject to the loss of tax deductions and value-added tax credits on payments to outsourced personnel and certain penalties for failing to comply with the new requirements.
−Removed: The Company is currently evaluating the new decree and its potential implications.
−Removed: While the overall impact of the new decree and its provisions continue to be assessed, the new law could result in increased costs to our operations in Mexico and could have a material adverse impact on our business and financial results.
+Added: Under this new decree, operating companies are no longer able to source their labor resources used to carry out core business functions from service entities or third-party providers and could be subject to the loss of tax deductions and value-added tax credits on payments to outsourced personnel and certain penalties for failing to comply with the new requirements.
+Added: The passage of this decree did not have a material adverse impact on our business and financial results.
Our results of operations may be affected by seasonal factors.
11 unchanged sentences
Our operations are subject to various environmental laws and regulations, the violation of which could result in substantial fines or penalties.
−Removed: We are subject to various environmental laws and regulations dealing with the handling of hazardous materials, underground fuel storage tanks, and discharge and retention of storm-water.
+Added: We are subject to various environmental laws and regulations dealing with the handling of hazardous materials, underground fuel storage tanks, and discharge and retention of stormwater.
We operate in industrial areas, where truck terminals and other industrial activities are located, and where groundwater or other forms of environmental contamination could occur.
68 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.