We have disclosed under the heading “Risk Factors” in our Annual Report, the risk factors that materially affect our business, financial condition, and results of operations.
−Removed: There have been no material changes from the risk factors previously disclosed in our Annual Report other than the risk factor set forth below.
+Added: There have been no material changes from the risk factors previously disclosed in our Annual Report.
You should carefully consider the risks, uncertainties, assumptions and other important factors set forth in the Annual Report and other subsequent reports we file or furnish with the SEC, including this Quarterly Report on Form 10-Q, any of which may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied.
For similar reasons, our past results may not be a reliable indicator of future performance and trends.
−Removed: You also should be aware that these risk factors and other information may not described every risk that we face.
+Added: You also should be aware that these risk factors and other information do not describe every risk that we face.
Additional risks and uncertainties not currently known to us or that we currently deem to be immaterial also may affect us.
We operate in a very competitive and rapidly changing environment and new risks emerge from time to time, and we anticipate that subsequent events and developments will cause our views to change.
+Added: In addition, these risks do not reflect the potential impact of any future acquisitions, merger, dispositions, joint ventures or investments we may undertake.
Any of these known or emerging factors may materially adversely affect our business, financial condition, and operating results, as well as the trading price of our common stock.
−Removed: If our goodwill, other intangibles or fixed assets become impaired, we may be required to record a significant charge to earnings.
−Removed: We had approximately $130.9 million of goodwill and $288.7 million of acquired intangible assets on our condensed consolidated balance sheet as of September 30, 2023, which represented 15.1% and 33.4% of our total assets, respectively, as of such date.
−Removed: generally accepted accounting principles (“GAAP”), the carrying amount of our goodwill is tested at least annually for impairment on the first day of the fourth fiscal quarter.
−Removed: On each quarter end date, we assess whether recent events or changes in circumstances constitute a triggering event requiring us to assess whether goodwill, other intangibles or fixed assets may be impaired before the annual testing date.
−Removed: Occurrences that may constitute a change in circumstances include, but are not limited to, a sustained decline in our share price and market capitalization, decreases in expected future cash flows and slower growth rates in our industry.
−Removed: We review our fixed assets and other finite life intangibles for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.
−Removed: Under GAAP, if we determine that goodwill, other intangibles or fixed assets are impaired, we will be required to write down these assets to fair value.
−Removed: Any write-down would have a negative effect on our consolidated financial statements and may be material.
−Removed: Based on the results of the qualitative assessment performed for our one reporting unit, we determined that goodwill was not impaired at October 2, 2022.
−Removed: As a result of a decline in our stock price, we plan to perform a quantitative assessment for our 2023 annual test as of October 1, 2023, which may result in a non-cash impairment charge during the fiscal quarter ended December 31, 2023.
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.