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Financial report summary
?Risks
- Risks Related to Economic Conditions
- Our global operations subject us to economic risks.
- Commodity and raw material shortages, supply chain risks and price increases could adversely affect our financial results.
- We face significant competition in the markets that we serve.
- Our growth is dependent, in part, on the timely development, commercialization and acceptance of new and enhanced products and services.
- Capital and credit market conditions could adversely affect our business operations, investments, and financial performance.
- Currency exchange rate fluctuations and other related risks may adversely affect our results.
- Changes in U.S. or foreign trade policies and other factors beyond our control may adversely impact our business and operating results
- World geopolitical conflict, including the Russia Ukraine conflict, has created a humanitarian crisis, materially impacted economic activities, and may materially impact our global and regional operations.
- The full extent to which a resurgence of COVID-19, a new pandemic, or spread of new infectious diseases or other public health crises will affect us will depend on future developments that are highly uncertain and cannot be accurately predicted.
- Risks Related to Litigation
- Material adverse legal judgments, fines, penalties or settlements could adversely affect our results of operations or financial condition.
- The Aldrich and Murray Chapter 11 cases involve various risks and uncertainties that could have a material effect on us.
- Risks Related to Cybersecurity and Technology
- We are subject to risks relating to our information technology systems.
- Security breaches or disruptions of the technology systems, infrastructure or products of the Company or our vendors could negatively impact our business and financial results.
- Data privacy and protection laws are evolving and present increasing compliance challenges.
- Intellectual property infringement claims of others and the inability to protect our intellectual property rights could harm our competitive position.
- Risks Related to Regulatory Matters
- Our reputation, ability to do business and results of operations could be impaired by improper conduct by any of our employees, agents or business partners.
- Our operations are subject to regulatory risks.
- Global climate change and related regulations could negatively affect our business.
- Risks Related to Our Business Operations
- Our business strategy includes acquiring businesses, product lines, technologies and capabilities, plants and other assets, entering into joint ventures and making investments that complement our existing businesses. We also occasionally divest businesses that we own. We may not identify acquisition or joint venture candidates or investment opportunities at the same rate as the past. Acquisitions, dispositions, joint ventures and investments that we identify could be unsuccessful or consume significant resources, which could adversely affect our operating results.
- Natural disasters, epidemics or other unexpected events may disrupt our operations, adversely affect our results of operations and financial condition, and may not be fully covered by insurance.
- Our business success depends on attracting, developing, and retaining highly qualified talent.
- Our business may be adversely affected by temporary work stoppages, union negotiations, labor disputes and other matters associated with our labor force.
- Risks Relating to Tax Matters
- Changes in tax or other laws, regulations or treaties, changes in our status under U.S. or non-U.S. laws or adverse determinations by taxing or other governmental authorities could increase our tax burden or otherwise affect our financial condition or operating results, as well as subject our shareholders to additional taxes.
- Risks Related to our Reverse Morris Trust Transaction
- If the Distribution as part of our Reverse Morris Trust Transaction is determined to be taxable for Irish tax purposes, significant Irish tax liabilities may arise for the Spin-off Shareholders.
- If the Distribution together with certain related transactions do not qualify as tax-free under Sections 355 and 368(a) of the Internal Revenue Code, including as a result of subsequent acquisitions of stock of the Company or Ingersoll Rand, then the Company and the Spin-off Shareholders may be required to pay substantial U.S. federal income taxes, and Ingersoll Rand may be obligated to indemnify the Company for such taxes imposed on the Company.
- If the merger does not qualify as a tax-free reorganization under Section 368(a) of the Code, the Spin-off Shareholders may be required to pay substantial U.S. federal income taxes.
- Risks Related to Our Irish Domicile
- Irish law differs from the laws in effect in the United States and may afford less protection to holders of our securities.
- Dividends received by our shareholders may be subject to Irish dividend withholding tax.
- Dividends received by our shareholders could be subject to Irish income tax.
Management Discussion
- We define organic revenue as net revenues adjusted for the impact of currency, acquisitions and divestitures. Organic revenue is not defined under generally accepted accounting principles in the United States of America (GAAP) and may not be comparable to similarly-titled measures used by other companies and should not be considered a substitute for revenue as determined in accordance with GAAP. Selected references are made to revenue growth on an organic basis so that certain financial results can be viewed without the impact of fluctuations in foreign currency rates and with the impacts of acquisitions, thereby providing comparisons of operation performance from period to period of the business that we have owned during both periods presented. We believe organic revenue growth provides investors with useful supplemental information about our revenues in both periods presented.