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New words:
accuracy, Antitrust, Aquila, Chief, clearance, climate, consulting, cybersecurity, demand, DOJ, elapsed, element, essentially, euro, experimental, geopolitical, hedge, inactive, inventory, judgement, macroeconomic, merge, newly, objective, Overview, physical, portfolio, professional, request, requesting, retention, subpoena, surviving, testing, thereof, transfer, unchanged, valid, war, windfall
Removed:
absent, acting, advisor, affiliated, agent, al, alleged, allegedly, appointment, arbitration, asserted, attack, attorney, Audrey, authorization, automatically, aware, beneficial, breached, broker, bylaw, candidate, capacity, capitalize, captioned, CCDL, Certificate, certification, charge, Chilton, circumstance, commenced, Compel, compensatory, competition, concert, conflict, consolidating, Corcoran, correct, counsel, count, curtailment, custodian, deal, declaration, declaratory, decline, declined, deductibility, defer, deficit, delay, delayed, denied, deploy, difficult, dilutive, diminishing, director, disclose, dismissed, dispute, disputed, divided, duty, Eastern, economy, electoral, elimination, employment, enacted, entice, entirety, entry, equal, evenly, event, exacerbate, exclusive, expend, facing, fact, failing, February, Federation, fee, fiduciary, foregoing, fortify, forum, FTC, Gen, General, governance, granted, Group, health, healthy, hearing, heightened, Henderson, hope, hostile, imposition, improved, improvement, inclusion, indenture, individually, injunction, injunctive, institutional, intangible, intention, interested, intervene, invalid, issuance, joint, judgment, judicial, Kevin, Lance, launched, leave, LHMT, Lichtenstein, Lockheed, long, Lord, loyalty, mandated, Martin, McNiff, misclassification, Mizar, modify, motion, moved, nation, neutral, nominal, nominated, nomination, noted, notice, notified, opening, opposed, ordering, originally, overstated, overstatement, pandemic, participating, payroll, permanent, person, placement, plaintiff, prejudice, preliminary, principle, prohibiting, proper, protecting, punitive, purported, purportedly, purporting, Qualitative, Quantitative, receiving, record, redeem, reflecting, rejected, Relator, remain, removal, removing, repeal, repealed, restraining, Ret, retain, retaliation, robust, Russian, SAC, safety, seal, separately, settle, slate, sought, sourcing, SPH, stop, suit, support, targeted, temporary, terminate, termination, topic, trial, Turchin, unbilled, uncertain, understated, understatement, updated, USAF, violated, virtue, void, voting, Warren, workforce, written, wrongful
Financial report summary
?Risks
- Failure to complete the Merger could negatively impact the price of our common stock, as well as our future business and financial results.
- Our ability to complete the Merger is subject to certain closing conditions and the receipt of consents and approvals from government entities which may impose conditions that could adversely affect us or cause the Merger to be abandoned.
- Expenses related to the pending Merger are significant and will adversely affect our operating results.
- We are subject to business uncertainties, litigation risk, and contractual restrictions while the Merger is pending, which could adversely affect our business.
- Uncertainties associated with the Merger may cause a loss of management and other key employees and disrupt our business relationships, which could adversely affect our business.
- The Merger Agreement contains provisions that could discourage a potential competing acquirer of us.
- Reductions, delays or changes in U.S. government spending, including failure to timely appropriate funding, may reduce, delay or cancel certain programs in which we participate and as a result adversely affect our financial results.
- The cancellation or material modification of one or more significant contracts could adversely affect our financial results.
- If our subcontractors or suppliers fail to perform their contractual obligations, our contract performance and our ability to win new contracts may be adversely affected.
- Disruptions in the supply of key raw materials, difficulties in the supplier qualification process or increases in prices of raw materials could adversely affect our financial results.
- The military conflict between Russia and Ukraine, and the global response to it could exacerbate certain risks we face, and could adversely impact our business, financial condition and results of operations.
- The release, unplanned ignition, explosion, or improper handling of dangerous materials used in our business could disrupt our operations and adversely affect our financial results.
- The real estate market involves significant risk, which could adversely affect our financial results.
- Climate change may have a long-term impact on our business.
- If we experience cost overruns on our contracts, we would have to absorb the excess costs which could adversely affect our financial results and our ability to win new contracts.
- Our business and operations could be adversely impacted in the event of a failure of our information technology infrastructure or failure to perform by our third party service providers.
- In order to be successful, we must attract and retain key personnel.
- A strike or other work stoppage, or our inability to renew collective bargaining agreements on favorable terms, could adversely affect our financial results.
- We use estimates when accounting for certain contracts and changes in these estimates may have a significant impact on our financial results.
- Our pension plans are currently underfunded and we expect to be required to make cash contributions in future periods, which would reduce the cash available for our businesses.
- If our operating subsidiaries do not generate sufficient cash flow or if they are not able to pay dividends or otherwise distribute their cash to us, or if we have insufficient funds on hand, we may not be able to service our debt.
- We have a substantial amount of debt. Our ability to operate is limited by the agreements governing our debt.
- We are obligated to comply with financial and other covenants outlined in our debt indentures and agreements that could restrict our operating activities. A failure to comply could result in a default which would, if not waived by the lenders, likely come with substantial cost and accelerate the payment of our debt.
- Our success and growth depends on our ability to execute long-standing programs and periodically secure new contracts in a competitive environment.
- We may expand our operations through acquisitions, which may divert management’s attention and expose us to unanticipated liabilities and costs. Also, acquisitions may increase our non-reimbursable costs. We may experience difficulties integrating any acquired operations, and we may incur costs relating to acquisitions that are never consummated.
- Our Aerospace and Defense segment is subject to procurement and other related laws and regulations inherent in contracting with the U.S. government, and non-compliance could adversely affect our financial results.
- Cyber security incidents could disrupt business operations, result in the loss of critical and confidential information, and adversely impact our reputation and results of operations.
- Our operations and properties are currently the subject of significant environmental liabilities, and the numerous environmental and other government requirements to which we are subject may become more stringent in the future.
- Given the many uncertainties involved in assessing liability for environmental claims, our established reserves may not be sufficient, which could adversely affect our financial results and cash flows.
- We face certain significant risk exposures and potential liabilities that may not be adequately covered by insurance.
- Our stock price is subject to fluctuations.
- Business disruptions could seriously affect us.
- The level of returns on retirement benefit assets, changes in interest rates, changes in legislation, and other factors affect our financial results.
- Our inability to protect our trade secrets, patents and proprietary rights could adversely affect our businesses’ prospects and competitive positions.
Management Discussion
- * Primary reason for change. The increase in net sales was primarily driven by an increase on the Next Generation Interceptor ("NGI"), RL10, and Patriot GEM-T programs.