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Our recent acquisition of the performance and lifestyle footwear business of certain subsidiaries of Honeywell International Inc.
−Removed: carries certain inherent risks, and we may not be able to successfully integrate the acquired business, which could have a material adverse effect on our business, financial condition, results of operations and cash flows.
−Removed: Our recent Acquisition that closed on March 15, 2021 involved inherent risks and we still face certain inherent risks such as:
−Removed: difficulties in continuing to integrate the acquired business, including the potential loss of key personnel from the acquired business, our potential inability to achieve identified financial, operating and other synergies anticipated to result from the acquisition, and integration issues associated with internal controls, among other things, for the acquired business;
−Removed: the diversion of management’s time from our existing business;
+Added: carries certain inherent risks, and we may not be able to successfully achieve anticipated synergies, which could have a material adverse effect on our business, financial condition, results of operations and cash flows.
+Added: Our Acquisition that closed on March 15, 2021 involved inherent risks and we still face certain inherent risks such as:
+Added: The potential loss of key personnel from the acquired business, our potential inability to achieve identified financial, operating and other synergies anticipated to result from the acquisition;
changes in economic conditions;
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where we are subject to the risks of international commerc e and other international conditions .
−Removed: A majority of our products are produced in the D ominican Republic, Vietnam, China and Indonesia.
+Added: A majority of our products are produced in the D ominican Republic, Vietnam, and China.
Therefore, our business is subject to certain risks of doing business offshore including:
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The occurrence of any of these developments could have a material adverse effect on our business, financial condition, results of operations and cash flows.
−Removed: The COVID-19 outbreak has had, and may continue to have, an adverse impact on our business, financial condition and results of operations.
−Removed: The World Health Organization declared the novel coronavirus (COVID-19), a pandemic in March 2020. 
−Removed: Our business, financial condition and results of operations have been and may continue to be adversely affected by the COVID-19 outbreak. 
−Removed: The COVID-19 outbreak has affected nearly all regions of the world, and preventative measures taken to contain or mitigate the outbreak have caused, and are continuing to cause, business slowdown or shutdown in affected areas. 
−Removed: This has and could continue to negatively affect the global economy, including reduced consumer spending and disruption of manufacturing and global supply chains. 
−Removed: We cannot predict the degree to which our business, financial condition and results of operations will be affected by the COVID-19 pandemic, and the effects could be material. 
−Removed: Potential impacts to our business, financial condition and results of operations include:
−Removed: Disruption to our employees, suppliers, third party manufacturing partners, vendors and logistics providers, including through the effects of facility closures, reductions in operating hours, labor shortages, and changes in operating procedures;
−Removed: Closure or reduced operations of brick and mortar retail stores and reductions in customer traffic, which adversely affects our Wholesale segment;
−Removed: Lower performance of customers in our Wholesale segment, which may result in reduction or cancellation of future orders;
−Removed: Closure or reduced operations of manufacturing and other facilities and businesses served by our Lehigh CustomFit business, resulting in reductions in future orders, which adversely affects our retail channel;
−Removed: Reductions in consumer spending due to macroeconomic conditions caused by the COVID-19 pandemic, including decreased disposable income and increased unemployment, which may result in decreased sales;
−Removed: Additional expenses related to mitigating the pandemic's impact on regular operations;
−Removed: Supply chain disruption effecting our ability to receive and distribute product as well as increases in supply chain costs;
−Removed: Continued volatility in the availability and prices for commodities and raw materials used in the Company's products and related inflationary pressures.
−Removed: In addition, the disruption caused to the global economy and our business could lead to triggering events indicating that the carrying value or certain assets, such as long-lived assets, intangibles and goodwill, may not be recoverable.
−Removed: Any required non-cash impairment charges will adversely affect our results of operations.
−Removed: The further spread of COVID-19 and the emergence of new variants, and the requirements to take action to help limit the spread of the illness, may impact our ability to carry out our business as usual and may materially adversely impact global economic conditions, our business, results of operations and financial condition.
We conduct a portion of our business pursuant to U.S.
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military subject our business to unique risks.
−Removed: In 2021, 4.4% of our revenues were earned pursuant to U.S.
+Added: In 2022 , 2.3%  of our revenues we re earned pursuant to U.S.
military contracts.
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Our ability to import products in a timely and cost-effective manner may also be affected by conditions at ports or issues that otherwise affect transportation and warehousing providers, such as fluctuations in freight costs, port and shipping capacity, labor disputes or severe weather due to climate change. These issues have in the past and may in the future delay importation of products or require us to locate alternative ports or warehousing providers to avoid disruption to customers. These alternatives may not be available on short notice or could result in higher costs, which could have an adverse impact on our business and financial condition.
−Removed: Our outdoor and insulated products are seasonal and are sensitive to weather conditions.
+Added: Our outdoor and insulated products are seasonal and sales of such products are sensitive to weather conditions.
We have historically experienced significant seasonal fluctuations in our business because we derive a significant portion of our revenues from sales of our outdoor products.
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Similarly, if one or more of our third-party manufacturers violate applicable environmental or other laws and regulations, we could suffer an interruption in our product supply.
−Removed: In addition, such a manufacturer’s actions could result in negative publicity and may damage our reputation and the value of our brand and discourage retail customers and consumers from buying our products.
+Added: In addition, such actions by a manufacturer could result in negative publicity and may damage our reputation and the value of our brand and discourage retail customers and consumers from buying our products.
The growth of our business will be dependent upon the availability of adequate capital.
−Removed: The growth of our business will depend on the availability of adequate capital, which in turn will depend in large part on cash flow generated by our business and the availability of equity and debt financing.
+Added: The growth of our business will depend on the availability of adequate capital, which in turn will depend largely on cash flow generated by our business and the availability of equity and debt financing.
We cannot assure that our operations will generate positive cash flow or that we will be able to obtain equity or debt financing on acceptable terms or at all.
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Interest rate increases could adversely affect our financial results.
−Removed: An increase in interest rates under our credit facilities would adversely affect our financial results, as our loan agreements provide for adjustments in our interest rates based on changes to LIBOR and/or the prime rate.
+Added: An increase in interest rates under our credit facilities would adversely affect our financial results, as our loan agreements provide for adjustments in our interest rates based on changes to the Secured Overnight Financing Rate (SOFR) and/or the prime rate.
We face intense competition, including competition from companies with significantly greater resources than ours, and if we are unable to compete effectively with these companies, our market share may decline and our business could be harmed.
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If our patents are found to be invalid, however, to the extent they have served, or would in the future serve, as a barrier to entry to our competitors, such invalidity could have a material adverse effect on our business, financial condition, results of operations and cash flows.
−Removed: registrations for many our trademarks, trade names and designs, including such marks as Rocky, Georgia Boot, Durango, Lehigh, Muck, XTRATUF, Servus, NEOS and Ranger.
+Added: registrations for many our trademarks, trade names and designs, including such marks as Rocky, Georgia Boot, Durango, Lehigh, Muck, XTRATUF, Servus and Ranger.
Additional trademarks, trade names and designs are the subject of pending federal applications for registration.
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An impairment charge could adversely affect the Company’s results of operations.
+Added: The COVID-19 outbreak has had, and may continue to have, an adverse impact on our business, financial condition and results of operations.
+Added: The World Health Organization declared the novel coronavirus (COVID-19), a pandemic in March 2020. 
+Added: Our business, financial condition and results of operations have been and may continue to be adversely affected by the COVID-19 outbreak. 
+Added: The COVID-19 outbreak has affected nearly all regions of the world, and preventative measures taken to contain or mitigate the outbreak have caused, and are continuing to cause, business slowdown or shutdown in affected areas. 
+Added: This has and could continue to negatively affect the global economy, including reduced consumer spending and disruption of manufacturing and global supply chains. 
+Added: We cannot predict the degree to which our business, financial condition and results of operations will be affected by the COVID-19 pandemic, and the effects could be material. 
+Added: Potential impacts to our business, financial condition and results of operations include:
+Added: Disruption to our employees, suppliers, third party manufacturing partners, vendors and logistics providers, including through the effects of facility closures, reductions in operating hours, labor shortages, and changes in operating procedures;
+Added: Closure or reduced operations of brick and mortar retail stores and reductions in customer traffic, which adversely affects our Wholesale segment;
+Added: Lower performance of customers in our Wholesale segment, which may result in reduction or cancellation of future orders;
+Added: Closure or reduced operations of manufacturing and other facilities and businesses served by our Lehigh CustomFit business, resulting in reductions in future orders, which adversely affects our retail channel;
+Added: Reductions in consumer spending due to macroeconomic conditions caused by the COVID-19 pandemic, including decreased disposable income and increased unemployment, which may result in decreased sales;
+Added: Additional expenses related to mitigating the pandemic's impact on regular operations;
+Added: Supply chain disruption effecting our ability to receive and distribute product as well as increases in supply chain costs;
+Added: Continued volatility in the availability and prices for commodities and raw materials used in the Company's products and related inflationary pressures.
+Added: In addition, the disruption caused to the global economy and our business could lead to triggering events indicating that the carrying value or certain assets, such as long-lived assets, intangibles and goodwill, may not be recoverable.
+Added: Any required non-cash impairment charges will adversely affect our results of operations.
+Added: The further spread of COVID-19 and the emergence of new variants, and the requirements to take action to help limit the spread of the illness, may impact our ability to carry out our business as usual and may materially adversely impact global economic conditions, our business, results of operations and financial condition.
Our success depends on our ability to forecast sales.
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and other countries.
−Removed: We source products from manufacturers located outside of the U.S., primarily in China, Vietnam and Indonesia.
+Added: We source products from manufacturers located outside of the U.S., primarily in China, and Vietnam.
Major developments in tax policy or trade relations, such as the disallowance of tax deductions for imported products or the imposition of unilateral tariffs on imported products, could have a material adverse effect on our business, results of operations and liquidity.
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In addition, as data privacy and marketing laws change, we may incur additional costs to ensure we remain in compliance.
−Removed: If applicable data privacy and marketing laws become more restrictive at the federal or state level, our compliance costs may increase, our ability to effectively engage customers via personalized marketing may decrease, its opportunities for growth may be curtailed by our compliance capabilities or reputational harm and the potential liability for security breaches may increase.
+Added: If applicable data privacy and marketing laws become more restrictive at the federal or state level, our compliance costs may increase, our ability to effectively engage customers via personalized marketing may decrease, opportunities for growth may be curtailed by our compliance capabilities or reputational harm and the potential liability for security breaches may increase.
We are also subject to U.S.
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Public health crises could harm our business.
−Removed: Public health crises, such as the outbreak of the coronavirus (COVID-19), could cause disruption to the Company’s manufacturers and suppliers located in China, Vietnam, Indonesia and elsewhere.
+Added: Public health crises, such as the outbreak of the coronavirus (COVID-19), could cause disruption to the Company’s manufacturers and suppliers located in China, Vietnam and elsewhere.
If our manufacturers and suppliers are so affected, our supply chain could be disrupted causing our product shipments to be delayed.
In addition, a public health crises could negatively impact our consumer spending in impacted regions or globally, which could materially adversely affect our business, financial condition, and results of operation.
+Added: The impact of COVID-19 and the related economic, business and market disruptions were wide-ranging.
+Added: These impacts have had and may continue to cause disruptions from both a manufacturing and distribution standpoint.
+Added: As a result of COVID-19, we were required to temporarily close our manufacturing facilities in both the Dominican Republic and Puerto Rico for several weeks spanning through both the first and second quarters of 2020.
+Added: In response to COVID-19, we have incurred incremental costs associated with protecting the health and safety of our global workforce, enhanced sanitization of our global operating facilities, and information technology capabilities for employees operating remotely.
+Added: Beginning in March 2020, restrictions imposed by various governmental authorities on both domestic and international shipping and travel have caused a disruption to the timing of delivery of raw materials and finished goods resulting in negative impacts to our financial position, results of operations and cash flows.
+Added: The duration and severity of the outbreak and its long-term impact on our business are uncertain at this time.
+Added: We are unable to predict the impact that COVID-19 will have on our future financial position, results of operations and cash flows.
Loss of services of our key personnel could adversely affect our business.
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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.