12 unchanged sentences
We conduct a significant amount of our sales activity outside of the U.S., which subjects us to additional business risks and may cause our profitability to decline due to increased costs.
−Removed: We sell our products in more than 100 countries and derived approximately 40 percent of our net sales in 2021 from outside the U.S.
+Added: We sell our products in more than 100 countries, derived approximately 40 percent of our net sales in 2021 from outside the U.S.
+Added: and have manufacturing operations in the U.S., Puerto Rico, Europe and China.
We intend to continue to pursue growth opportunities in sales internationally, including in emerging markets, which could expose us to additional risks associated with international sales and operations.
6 unchanged sentences
diminished protection of intellectual property in some countries outside of the U.S.;
−Removed: trade protection measures, import or export requirements, new or increased tariffs, trade embargoes and sanctions and other trade barriers, which may prevent us from shipping products to a particular market, restrict our access to certain sources of raw materials, increase our operating costs and disrupt our ability to collect payment for our products and services in particular markets;
+Added: trade protection measures, import or export requirements, new or increased tariffs, trade embargoes and sanctions and other trade barriers, which may prevent us from shipping products to or receiving products from a particular market, restrict our access to certain sources of raw materials and other inputs, increase our operating costs and disrupt our ability to collect payment for our products and services in particular markets;
foreign exchange controls that might prevent us from repatriating cash earned in countries outside the U.S.;
8 unchanged sentences
Violations of foreign laws or regulations could result in fines, criminal sanctions against us, our officers or our employees, prohibitions on the conduct of our business and damage to our reputation.
−Removed: Wars and other conflicts may increase certain of these risks and may adversely affect our business and financial performance.
+Added: Wars and other conflicts may increase certain of these risks and may adversely affect our business and financial performance, including by limiting our ability to operate in, or export from, certain markets.
+Added: Losing access to such markets or exports may have a material adverse effect on our business in the affected market, and may limit our ability to operate some of our businesses globally.
+Added: We anticipate that the effects of emerging, expanding and new conflicts, such as a possible expansion of the Russian-Ukrainian conflict or an expanded conflict involving China and Taiwan, would not be limited to the specific markets involved.
For example, the U.S.
and other countries have imposed sanctions on Russia, certain of its governmental bodies, certain businesses and certain individuals due to the invasion of Ukraine, and additional sanctions may continue to be imposed.
−Removed: Sanctions, and other civil, political and economic effects of the Russia-Ukraine crisis, may have adverse impacts globally, including supply chain continuity disruption;
−Removed: inflationary pressures and increased costs of raw materials and inputs, especially titanium used in our products;
+Added: Similar sanctions could be expected to emerge from other conflicts.
+Added: Sanctions, and other civil, political and economic effects of the Russia-Ukraine crisis or of conflicts involving other countries, may have adverse impacts globally, including supply chain continuity disruption;
+Added: inflationary pressures and increased costs of raw materials and inputs, especially titanium and other inputs for our products;
manufacturing or shipping delays;
increased shipping costs;
+Added: inability to ship products to or from certain countries potentially resulting in an inability to sell certain products globally;
and increased disruptions and delays on our ability to collect payment for our products and services in particular markets.
−Removed: While Russia and Ukraine do not constitute material portions of our business, a significant escalation or expansion of economic disruption or the conflict’s current scope could adversely affect our result of operations.
+Added: While Russia and Ukraine do not constitute material portions of our business, a significant escalation or expansion of economic disruption or the conflict’s current scope, or the emergence or expansion of conflicts involving other actors, could adversely affect our results of operations.
Unregistered Sales of Equi ty Securities and Use of Proceeds
3 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.