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Additionally, bring, brought, CODM, factor, Foam, found, highlight, individual, lean, matter, nearest, predominantly, reconciled, styled, substitute, superior, thereto, viewed
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continued, contract, Florida, March, noncurrent, receivable
Financial report summary
?Competition
Honeywell InternationalRisks
- RISKS RELATED TO LEGAL AND REGULATORY CHALLENGES
- Claims of injuries or potential safety issues or quality concerns could be made against our various subsidiaries.
- Our ability to market and sell our products is subject to existing government laws, regulations and standards. Changes in such laws, regulations and standards or our failure to comply with them could materially and adversely affect our results of operations.
- We are subject to various environmental laws and any violation of these laws could adversely affect our results of operations.
- We are subject to risks related to our environmental, social and governance activities and disclosures.
- We are subject to various U.S. and foreign tax laws and any changes in these laws related to the taxation of businesses and resolutions of tax disputes could adversely affect our results of operations.
- Our future results are subject to the risk that purchased components and materials are unavailable or available at excessive cost due to material shortages, excessive demand, currency fluctuation, inflationary pressure and other factors.
- Our plans to continue to improve productivity and reduce complexity may not be successful, which could adversely affect our ability to compete.
- We are subject to risks related to various U.S. and foreign climate regulations and any changes in these regulations related to climate disclosure and penalties for non-compliance could adversely affect our results of operations.
- RISKS RELATED TO ECONOMIC, MARKET AND COMPETITIVE CONDITIONS
- Unfavorable economic and market conditions could materially and adversely affect our business, results of operations and financial condition.
- A reduction in the spending patterns of government customers or delays in obtaining government approval for our products could materially and adversely affect our net sales, earnings and cash flow.
- The markets in which we compete are highly competitive, and some of our competitors have greater financial and other resources than we do. The competitive pressures faced by us could materially and adversely affect our business, results of operations and financial condition.
- RISKS RELATED TO NEW AND ADJACENT INITIATIVES
- Our plans to improve future profitability through restructuring programs may not be successful and could lead to unintended consequences.
- If we fail to introduce successful new products or extend our existing product line, we could lose our market position and our financial performance could be materially and adversely affected.
- A failure of our information systems or a cybersecurity breach could materially and adversely affect our business, results of operations and financial condition.
- Our continued success depends on our ability to protect our intellectual property. If we are unable to protect our intellectual property, our business could be materially and adversely affected.
- If we lose any of our key personnel or are unable to attract, train and/or retain qualified personnel or properly plan the succession of senior management, our ability to manage our business and continue our growth could be negatively impacted.
- We may be unable to hire, retain or develop a highly skilled and diverse global workforce or effectively manage changes in our workforce and respond to shifts in labor availability.
- RISKS RELATED TO DOING BUSINESS INTERNATIONALLY
- We have significant international operations and are subject to the risks of doing business in foreign countries and global supply chains.
- Because we derive a significant portion of our sales from the operations of our foreign subsidiaries, future currency exchange rate fluctuations could adversely affect our results of operations and financial condition and could affect the comparability of our results between financial periods.
- We benefit from free trade laws and regulations, such as the United States-Mexico-Canada Agreement and any changes to these laws and regulations could adversely affect our results of operations.
- Damage to the reputation of MSA or to one or more of our product brands could adversely affect our business.
- If our goodwill, other intangible assets and long-lived assets become impaired, we may be required to record significant charges to earnings.
- Failure to incorporate, or improperly incorporating, Artificial Intelligence (AI) could damage our business.
- If we fail to meet our debt service requirements or the restrictive covenants in our debt agreements or if interest rates increase, our results of operations and financial condition could be materially and adversely affected.
Management Discussion
- Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations
- This section generally discusses the results of our operations for the year ended December 31, 2023 compared to the year ended December 31, 2022. For a discussion on the year ended December 31, 2022 compared to the year ended December 31, 2021, please refer to Part II, Item 7, "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our Annual Report on Form 10-K for the year ended December 31, 2022 filed with the Securities and Exchange Commission on February 16, 2023.
- MSA Safety Incorporated ("MSA") is organized into four geographical operating segments that are aggregated into three reportable segments: Americas, International and Corporate. The Americas segment is comprised of our operations in North America and Latin America geographies. The International segment is comprised of our operations of all geographies outside of the Americas. Certain global expenses are allocated to each segment in a manner consistent with where the benefits from the expenses are derived. Please refer to Note 8—Segment Information of the consolidated financial statements in Part II Item 8 of this Form 10-K for further information.