LEGAL PROCEEDINGS
−Removed: We are not currently involved in any litigation that we believe could have a materially adverse effect on our financial condition or results of operation.
−Removed: However, from time to time, we may be subject to legal proceedings that arise in the ordinary course of business.
−Removed: Legal proceedings which may arise in the ordinary course of business include, but are not limited to, preference payment claims asserted in customer bankruptcy proceedings;
−Removed: claims of alleged infringement of patents, trademarks, copyrights, and other intellectual property rights;
−Removed: claims of alleged non-compliance with contract provisions;
−Removed: employment-related claims;
−Removed: claims by competitors, vendors, or customers;
−Removed: claims related to alleged violations of laws and regulations;
−Removed: claims relating to alleged security or privacy breaches, and claims stemming from actions or events relating to COVID-19.
−Removed: We attempt to ameliorate the effect of potential litigation through insurance coverage and contractual protections such as rights to indemnifications and limitations of liability.
−Removed: Additionally, we proactively seek to recover funds to which we may be entitled.
−Removed: From time to time, we are successful in obtaining recoveries by filing a claim in class action suits, however, we have limited insight into the timing or amount of those recoveries.
−Removed: We provide for costs relating to contingencies when a loss is probable, and the amount is reasonably determinable.
−Removed: In the opinion of management, there was not at least a reasonable possibility that the Company may have incurred a material loss, or a material loss in excess of a recorded accrual, with respect to loss contingencies for asserted legal and other claims.
−Removed: However, the outcome of legal proceedings and claims brought against us is subject to significant uncertainty.
−Removed: Therefore, although management considers the likelihood of such an outcome to be remote, if one or more of these legal matters were resolved against the Company in a reporting period for amounts in excess of management’s expectations, the Company’s consolidated financial statements for that reporting period could be materially adversely affected.
+Added: For a description of our material pending legal proceedings, please refer to Note 10 , “ Commitments and Contingencies” of the Notes to Consolidated Financial Statements included in Part II, Item 8 of this Annual Report on Form 10-K.
MINE SAFETY DISCLOSURES
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