+Added: We have updated certain risk factors affecting our business since those presented in our 2019 Annual Report on Form 10-K for the fiscal year ended December 31, 2019 and those in our Quarterly Reports on Form 10-Q for the quarters ended March 31, 2020 and July 2, 2020, respectively.
+Added: Except for the risk factors set forth below, there have been no material changes in our assessment of our risk factors from those set forth in such reports.
We face various risks related to health epidemics, pandemics and similar outbreaks, particularly COVID-19, which may have material adverse effects on our business, financial position, results of operations and/or cash flows.
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and global economy, disrupted global supply chains, resulted in significant travel and transport restrictions, including mandated closures and orders to “shelter-in-place,” and created significant disruption in the global financial markets.
−Removed: The outbreak had an adverse impact on our operating results and our business in the first half of 2020.
+Added: The outbreak had an adverse impact on our operating results and our business in the first three quarters of 2020.
However, the extent of the continued impact of the COVID-19 pandemic on our operational and financial performance, including our ability to execute our programs in the expected time-frame, will depend on future developments, including the duration and spread of the pandemic and related actions taken by the U.S.
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Further, if significant portions of our workforce are unable to continue to work effectively because of illness, quarantine, government actions, facility closures, travel restrictions, disruptions related to increased teleworking policies, social distancing or other restrictions related to COVID-19, our operations, efficiency and effectiveness may be impacted in the future.
−Removed: While certain measures have been instituted by the U.S.
−Removed: Government and local governments to address the effects of the COVID-19 pandemic, it is uncertain whether such measures will be helpful.
−Removed: For example, in March 2020, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), was enacted in response to the COVID-19 pandemic.
−Removed: The CARES Act contains certain relief provisions to address increased costs incurred by government contractors in the performance of their contracts during the COVID-19 pandemic.
−Removed: However, the full practical application of the CARES Act is still unknown, and any cost increases related to COVID-19 may not be fully recoverable under our contracts or the CARES Act or adequately covered by insurance.
It is also possible that the continued spread of COVID-19 could continue to delay or limit the ability of the U.S.
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In March 2020, in response to the COVID-19 pandemic, we instituted a maximum telework policy wherever possible and eliminated all non-essential travel to protect the health and safety of our employees.
+Added: We will continue to evaluate and extend these policies as necessary to continue to protect our employees.
The effects on our long-term operations as a result of a significant portion of our workforce working remotely for a prolonged period are unknown.
Further, prolonged telework by a large portion of our workforce presents potential cybersecurity and data security risks.
−Removed: In addition, as certain restrictions begin to lift worldwide, employees at many of our project sites and headquarters have begun to return to
−Removed: work in certain circumstances under new social distancing guidelines.
+Added: In addition, as certain restrictions begin to lift worldwide, employees at many of our project sites and headquarters have begun to return to work in certain circumstances under new social distancing guidelines.
We continue to monitor the World Health Organization and Center for Disease Control guidelines, as well as country, state and local guidance, and we have made significant efforts to mitigate the risks associated with returning to work.
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Any exposures to COVID-19 by our employees could affect our ability to operate effectively.
−Removed: We continue to work with our stakeholders (including customers, employees, suppliers and local communities) to address this global pandemic.
+Added: The spread of COVID-19 has caused us to significantly modify our business practices (including limiting employee and contractor presence at our work locations), and we may take further actions as may be required by government authorities or that we determine are in the best interests of our employees, contractors, customers, suppliers, and communities.
+Added: There is no certainty that such measures will be sufficient to mitigate the risks posed by the virus, and our ability to perform critical functions could be adversely impacted.
+Added: As the effects of COVID-19 are difficult to predict, we continue to work with our stakeholders to address this global pandemic.
We continuously assess any possible implications on our business and customers to mitigate adverse consequences.
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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.