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The Company’s actual results may differ materially from the results anticipated in these forward-looking statements due to a variety of factors, including, without limitation: § the effects of economic conditions particularly with regard to the negative impact of severe, wide-ranging and continuing disruptions caused by the spread of Coronavirus Disease customers and the operations of the Company, specifically the effect of the economy on loan customers’ ability to repay loans; § the costs and effects of litigation and of unexpected or adverse outcomes in such litigation; § the impact of new or changes in existing laws and regulations, including laws and regulations concerning taxes, banking, securities and insurance and their application with which the Company and its subsidiaries must comply; § impacts of the capital and liquidity requirements of the Basel III standards and other regulatory pronouncements, regulations and rules; § governmental monetary and fiscal policies, as well as legislative and regulatory changes; § effects of short- and long-term federal budget and tax negotiations and their effect on economic and business conditions; § the effect of changes in accounting policies and practices, as may be adopted by the regulatory agencies, as well as the Financial Accounting Standards Board and other accounting standard setters; § the risks of changes in interest rates on the level and composition of deposits, loan demand, and the values of loan collateral, securities and interest rate protection agreements, as well as interest rate risks; § the effects of competition from other commercial banks, thrifts, mortgage banking firms, consumer finance companies, credit unions, securities brokerage firms, insurance companies, money market and other mutual funds and other financial institutions operating in our market area and elsewhere, including institutions operating locally, regionally, nationally and internationally, together with such competitors offering banking products and services by mail, telephone, computer and the internet; § technological changes; § the interruption or breach in security of our information systems, continually evolving cybersecurity and other technological risks and attacks resulting in failures or disruptions in customer account management, general ledger processing and loan or deposit updates and potential impacts resulting therefrom including additional costs, reputational damage, regulatory penalties, and financial losses; § acquisitions and integration of acquired businesses; § the failure of assumptions underlying the establishment of reserves for loan losses and estimations of values of collateral and various financial assets and liabilities; § inflation, securities markets and monetary fluctuations and volatility; § the short-term and long-term effects of inflation, and rising costs to the Company, its customers and on the economy; § acts of war or terrorism; § disruption of credit and equity markets; and § the risk that our analyses of these risks and forces could be incorrect and/or that the strategies developed to address them could be unsuccessful.
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SIGA’s actual results could differ materially from those anticipated by such forward-looking statements due to a number of factors, some of which are beyond SIGA’s control, including, but not limited to, (i) the risk that BARDA elects, in its sole discretion as permitted under the BARDA Contracts, not to exercise all, or any, of the remaining unexercised options under those contracts, (ii) the risk that SIGA may not complete performance under the BARDA Contracts on schedule or in accordance with contractual terms, (iii) the risk that the BARDA Contracts are modified or canceled at the request or requirement of the U.S. Government, (iv) the risk that the nascent international biodefense market does not develop to a degree that allows SIGA to successfully market TPOXX® internationally, (v) the risk that potential products, including potential alternative uses or formulations of TPOXX® that appear promising to SIGA or its collaborators, cannot be shown to be efficacious or safe in subsequent pre-clinical or clinical trials, (vi) the risk that SIGA or its collaborators will not obtain appropriate or necessary governmental approvals to market these or other potential products or uses, (vii) the risk that SIGA may not be able to secure or enforce sufficient legal rights in its products, including intellectual property protection, (viii) the risk that any challenge to SIGA’s patent and other property rights, if adversely determined, could affect SIGA’s business and, even if determined favorably, could be costly, (ix) the risk that regulatory requirements applicable to SIGA’s products may result in the need for further or additional testing or documentation that will delay or prevent SIGA from seeking or obtaining needed approvals to market these products, (x) the risk that the volatile and competitive nature of the biotechnology industry may hamper SIGA’s efforts to develop or market its products, (xi) the risk that changes in domestic or foreign economic and market conditions may affect SIGA’s ability to advance its research or may affect its products adversely, (xii) the effect of federal, state, and foreign regulation, including drug regulation and international trade regulation, on SIGA’s businesses; (xiii) the risk that the COVID-TPOXX®, causing delays in SIGA’s research and development activities, causing delays or the re-allocation of funding in connection with SIGA’s government contracts, or diverting the attention of government staff overseeing SIGA’s government contracts; and (xiv) the risk that the U.S. or foreign governments' responses (including inaction) to the national or global economic conditions or infectious diseases such as COVID-19 are ineffective and may affect SIGA’s business adversely, as well as the risks and uncertainties included in Item 1A “Risk Factors” of this Form 10-K. All such forward-looking statements are current only as of the date on which such statements were made.
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Such factors include but are not limited to: the effects pandemics, such as the COVID-customers' businesses and the duration and extent to which this will impact our future results of operations and overall financial performance; our ability to address our business challenges in order to reverse revenue declines, reduce costs and increase productivity so that we can invest in and grow our business; our ability to successfully develop new products, technologies and service offerings and to protect our intellectual property rights; reliance on third parties, including subcontractors, for manufacturing of products and provision of services and the shared service arrangements entered into by us as part of Project Own It; our ability to attract and retain key personnel; the risk that confidential and/or individually identifiable information of ours, our customers, clients and employees could be inadvertently disclosed or disclosed as a result of a breach of our security systems due to cyber attacks or other intentional acts or that cyberattacks could result in a shutdown of our systems; the risk that partners, subcontractors and software vendors will not perform in a timely, quality manner; actions of competitors and our ability to promptly and effectively react to changing technologies and customer expectations; our ability to obtain adequate pricing for our products and services and to maintain and improve cost efficiency of operations, including savings from restructuring and transformation actions; our ability to manage changes in the printing environment like the decline in the volume of printed pages and extension of equipment placements; changes in economic and political conditions, trade protection measures, licensing requirements and tax laws in the United States and in the foreign countries in which we do business; the risk that multi-year contracts with governmental entities could be terminated prior to the end of the contract term and that civil or criminal penalties and administrative sanctions could be imposed on us if we fail to comply with the terms of such contracts and applicable law; interest rates, cost of borrowing and access to credit markets; the imposition of new or incremental trade protection measures such as tariffs and import or export restrictions; funding requirements associated with our employee pension and retiree health benefit plans; changes in foreign currency exchange rates; the risk that our operations and products may not comply with applicable worldwide regulatory requirements, particularly environmental regulations and directives and anti-corruption laws; the outcome of litigation and regulatory proceedings to which we may be a party; and any impacts resulting from the restructuring of our relationship with Fujifilm Holdings Corporation.
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Accordingly, our future results could be harmed by a variety of factors, including: • economic weakness, including inflation or political instability in particular non-U.S. economies and markets; • differing and changing regulatory requirements for drug approvals in non-U.S. countries; • differing jurisdictions could present different issues for securing, maintaining or obtaining freedom to operate in such jurisdictions; • potentially reduced protection for intellectual property rights; • difficulties in compliance with non-U.S. laws and regulations; • changes in non-U.S. regulations and customs, tariffs and trade barriers; • changes in currency exchange rates, including the euro, the New Taiwan dollar, Renminbi and the Australian dollar and currency controls; • changes in a specific country’s or region’s political or economic environment, particularly in respect of the dynamic between the ROC and mainland China (PRC); • trade protection measures, import or export licensing requirements or other restrictive actions by U.S. or non-U.S. governments; • differing reimbursement regimes and price controls in certain non-U.S. markets; • negative consequences from changes in tax laws; • compliance with tax, employment, immigration and labor laws for employees living or traveling outside of Taiwan; • workforce uncertainty in countries where labor unrest is more common than in the United States; • difficulties associated with staffing and managing international operations, including differing labor relations; • production shortages resulting from any events affecting raw material supply or manufacturing capabilities outside of Taiwan; • business interruptions resulting from geo-political actions, including war and terrorism, or natural disasters including earthquakes, typhoons, floods and fires; and • supply and other disruptions resulting from the impact of public health epidemics on us or our strategic partners, CROs, third-party manufacturers, suppliers and other third parties upon which we rely, including the novel coronavirus (COVID-negative impact on our ability to initiate or complete our clinical trials or commercialize approved products.
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Reliance on outside suppliers and manufacturers entails risks, some of which we would not be subject to if we manufactured the product candidates ourselves, including: • the inability to meet any product specifications and quality requirements consistently; • a delay or inability to procure or expand sufficient manufacturing capacity; • manufacturing and product quality issues related to scale-up of manufacturing; • costs and validation of new equipment and facilities required for scale-up; • a failure to comply with cGMP and similar foreign standards; • the inability to negotiate manufacturing or supply agreements with outside parties on commercially reasonable terms; • termination or nonrenewal of manufacturing agreements with outside parties in a manner or at a time that is costly or damaging to us; • the reliance on a limited number of sources, and in some cases, single sources for raw materials, such that if we are unable to secure a sufficient supply of these product components, we will be unable to manufacture and sell future product candidates in a timely fashion, in sufficient quantities or under acceptable terms; • the lack of qualified backup suppliers for any raw materials that are currently purchased from a single source supplier; • operations of our contract manufacturers or suppliers could be disrupted by conditions unrelated to our business or operations, including the bankruptcy of the manufacturer or supplier; • carrier disruptions or increased costs that are beyond our control; and • the failure to deliver products under specified storage conditions and in a timely manner.
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The operations on the Underlying Properties are subject to complex federal, state, local and other laws and regulations that could adversely affect the cost, manner or feasibility of conducting operations on them or expose the operator to significant liabilities; · Climate change laws and regulations restricting emissions of “greenhouse gases” could result in increased operating costs and reduced demand for the oil and natural gas that the operators produce while the physical effects of climate change could disrupt their production and cause them to incur significant costs in preparing for or responding to those effects; · Federal and state legislative and regulatory initiatives relating to hydraulic fracturing could result in increased costs and additional operating restrictions or delays as well as adversely affect the services of the operators of the Underlying Properties; · Cyber-attacks or other failures in telecommunications or information technology systems could result in information theft, data corruption and significant disruption of the Sponsor’s business operations; · If the IRS were to determine (and be sustained in that determination) that the Trust is not a “grantor trust” for U.S. federal income tax purposes, the Trust could be subject to more complex and costly tax reporting requirements that could reduce the amount of cash available for distribution to Trust unitholders; · Unitholders are required to pay taxes on their share of the Trust’s income even if they do not receive any cash distributions from the Trust.
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z that certain data we utilize in our CarbonCount or similar metric calculations is prepared by third parties or receives limited assurance from and/or verification by third parties and may undergo a less rigorous review process than assurance sought in connection with more traditional audits and such review process may not identify errors and may not protect us from potential liability under the securities laws, and, if errors are identified our reputation and our business could be negatively impacted and if we were to seek more extensive assurance or attestation with respect to such ESG metrics, we may be unable to obtain such assurance or attestation or may face increased costs related to obtaining and/or maintaining such assurance or attestation; z that the ESG or sustainability standards, norms, or metrics, which are constantly evolving, change in a manner that impacts us negatively or requires us to change the content or manner of our disclosures, and our stockholders or third parties view such changes negatively, we are unable to adequately explain such changes, or we are required to expend significant resources to update our disclosures, any of which could negatively impact our reputation and our business; and z that our business could be negatively impacted if any of our disclosures, including our CarbonCount or similar metrics, reporting to third-party ESG standards, or reporting against our goals, are inaccurate, perceived to be inaccurate, or alleged to be inaccurate.
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Our PRC legal counsel has further advised that if the PRC government authority finds that our corporate structure, the contractual arrangements or the reorganization to establish our current corporate structure do not comply with any applicable PRC laws, rules or regulations, the contractual arrangements will become invalid or unenforceable, and we could be subject to severe penalties including being prohibited from continuing operations If we or any of our current or future VIE are found to be in violation of any existing or future PRC laws or regulations, or fail to obtain or maintain any of the required permits or approvals, the relevant PRC regulatory authorities, including the Ministry of Industry and Information Technology, or MIIT, which regulates internet information services companies, SAIC, which regulates advertising companies, and the CSRC would have broad discretion in dealing with such violations, including levying fines, confiscating our income or the income of Farmmi Agricultural and the VIE, revoking the business licenses or operating licenses of Farmmi Agricultural and the VIE, shutting down our servers or blocking our websites, discontinuing or placing restrictions or onerous conditions on our operations, requiring us to undergo a costly and disruptive restructuring, restricting our rights to use the proceeds upon cash exercises, if any, of the warrants to purchase the Ordinary Shares offered hereby to finance our business and operations in China, or taking other enforcement actions that could be harmful to our business.
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S trategic report G overnance Financial statem ents Prioritised principal risks and uncertainties Scenarios – Adverse geo-political and macro-economic changes in key geographies – Low order intake A material decline in new order intake, notably an approximate 50% reduction in new awards across the Period, which could be driven by factors such as, but not limited to, a low oil price environment, economic uncertainty, and an accelerated energy transition and other restrictions such as sanctions – Failure to deliver strategic initiatives – Poor project execution Net profit margin deterioration, which could be driven by cost overruns, adverse commercial or legal settlements – Loss of financial capacity The Group retains access to a sufficient level of financing to meet its funding requirements and secure guarantees in support of new contract awards – Breach of laws, regulations, and ethical standards No financial impact that threatens viability would crystalise from contingent liabilities during the Period (refer to note 30) – New order intake: a book-to-bill of 1x or greater in each year of the plan in both E&C and AS business units – Margins: net profit margins in E&C remain at lower levels in the near term as a result of higher costs from COVID-19 related disruption, low order intake in recent periods, with recovery in the medium term driven by an expected improvement in market conditions.
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Our evaluation of the Directors’ assessment of the Group and the Parent Company’s ability to continue to adopt the going concern basis of accounting included: – Assessment of the internal forecasting processes to ascertain whether the projections used are: – prepared by appropriate personnel who have appropriate understanding of the business’ strategy, customer base and expected performance; and – reflective of the potential impacts of COVID-pressures on the business, including those trends that have emerged more significantly following the year end. – Review of the forecasts and challenge of the key assumptions against prior year, current economic risks and our knowledge of the business; – Challenge of the appropriateness of the reasonably possible downside scenarios, and consideration of whether other scenarios (or specific events) might be appropriate to incorporate into the assessment; – Review of the assessment of various downside scenarios, including challenge of assumptions used, to analyse: the levels of revenue reduction; the extent of the impact of inflation; the availability of any mitigating actions; and an increase in debtor days that could be sustained without breaching banking covenants; and – Consideration of the adequacy of the disclosures in the financial statements against the requirements of the accounting standards and consistency of the disclosure against the specific risks posed and scenarios that the Directors have considered in reaching its going concern assessment.
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we could become more vulnerable to general adverse economic and industry conditions, including increases in interest rates, particularly given our substantial indebtedness, some of which bears interest at variable rates; we may be unable to meet financial ratios in the agreements governing certain of our debt and finance lease or satisfy certain other covenants and conditions included in our debt agreements, which could result in our inability to meet requirements for borrowings under our credit agreement or a default under these agreements, impose restrictions with respect to our access to certain of our capital, and trigger cross default provisions in our other debt instruments; if we default under the terms of our secured financing arrangements, the secured debtholders may, among other things, foreclose on the collateral securing the debt, including the applicable drilling units; we may be unable to obtain new investment or financing given recent environmental, social and governance influenced trends among many financial intermediaries, investors and other capital markets participants in reducing, or ceasing, lending to, or investing in, companies that operate in industries with higher perceived environmental exposure; and we may be less able to take advantage of significant business opportunities and to react to changes in market or industry conditions than our less levered competitors.
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In particular, management’s expectations could be affected by, among other things: unexpected regulatory actions or delays or government regulation generally; the uncertainties inherent in research and development, including the inability to meet our key study assumptions regarding enrollment rates, timing and availability of subjects meeting a study’s inclusion and exclusion criteria and funding requirements, changes to clinical protocols, unexpected adverse events or safety, quality or manufacturing issues; the inability of a drug candidate to meet the primary or secondary endpoint of a study; the inability of a drug candidate to obtain regulatory approval in different jurisdictions or gain commercial acceptance after obtaining regulatory approval; global trends toward health care cost containment, including ongoing pricing pressures; uncertainties regarding actual or potential legal proceedings, including, among others, actual or potential product liability litigation, litigation and investigations regarding sales and marketing practices, intellectual property disputes, and government investigations generally; and general economic and industry conditions, including uncertainties regarding the effects of the persistently weak economic and financial environment in many countries, uncertainties regarding future global exchange rates and uncertainties regarding the impact of the COVID-19 pandemic.
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Factors that might cause such a difference include, but are not limited to: (environment may reduce interest margins; (3) prepayment speeds, loan origination and sale volumes, charge-offs and loan loss provisions may vary substantially from period to period; (4) general economic conditions may be less favorable than expected; (5) political developments, wars or other hostilities may disrupt or increase volatility in securities markets or other economic conditions; (6) legislative or regulatory changes or actions may adversely affect the businesses in which we are engaged; (7) changes and trends in the securities markets may adversely impact us; (8) a delayed or incomplete resolution of regulatory issues could adversely impact our planning; (9) difficulties in integrating any businesses that we may acquire, which may increase our expenses and delay the achievement of any benefits that we may expect from such acquisitions; (10) the impact of reputation risk created by the developments discussed above on such matters as business generation and retention, funding and liquidity could be significant; and (11) the outcome of any future regulatory and legal investigations and proceedings may not be anticipated.
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New gas sources and infrastructure projects from the Southern Corridor and possibly the extraction of hydrocarbons from the Black Sea, which provides the premises for adopting a new business model in the supply business; Households market in Romania and the liberalization of natural gas price from domestic production; New technologies (for increasing gas fields profitability); Digitalization; Production of electricity based on gas (as a result of uncertain ties on the future of nuclear energy and withdrawal from exploitation of certain obsolete capacities for electricity production based on natural gas and coal, as well as the beginning of modernization of existing ones – e.g. Mintia Power Plant); Possible development of certain new electricity production capacities from renewable sources (wind, solar, geothermal and biogas energy); Increase of market share in the electricity production (possible exploitation of new investments in Iernut power plant); Application of international standards and models in oil and gas in the matter of partnerships; Application of international standards and models in the matter of assets management.
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In addition, if any product candidates we may develop receives marketing approval and we or others later identify undesirable side effects caused by the product, a number of significant negative consequences could result, including: • regulatory authorities may withdraw their approval of the product or place restrictions on the way it is prescribed; • regulatory authorities may require a larger clinical benefit for approval to offset the risk; • regulatory authorities may require the addition of labeling statements that could diminish the usage of the product or otherwise limit the commercial success of the product; • we may be required to change the way the product is administered, conduct additional clinical trials or change the labeling of the product or implement a risk evaluation and mitigation strategy; • we may choose to discontinue sale of the product; • we could be sued and held liable for harm caused to patients; • we may not be able to enter into collaboration agreements on acceptable terms and execute our business model; and • our reputation may suffer.
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If our product candidates receive marketing approval and we or others later identify undesirable side effects caused by such products, a number of potentially significant negative consequences may result, including: • regulatory authorities may require us to conduct additional clinical trials or abandon our research efforts for our other product candidates; • regulatory authorities may require additional warnings on the label or impose distribution or use restrictions; • regulatory authorities may require one or more post-market studies; • we may be required to create a medication guide outlining the risks of such side effects for distribution to patients; • regulatory authorities may require implementation of a Risk Evaluation and Mitigation Strategy, or REMS, Field Safety Corrective Actions or equivalent, which may include safety surveillance, restricted distribution and use, patient education, enhanced labeling, special packaging or labeling, expedited reporting of certain adverse events, preapproval of promotional materials and restrictions on direct-toconsumer advertising; • we could be sued and held liable for harm caused to patients; and • our reputation may suffer.
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Income taxes—deferred ( (4,464) (4,464) 27 (102) (2,610) Investments in entities accounted for using equity method — — 1,110 1,110 Increase in property, plant and equipment, and intangible assets 4,143 213 (82) 411 — (1,109) (13) 110 (81) — (37) — — — (—) (—) — (—) — (—) — (124) 918 — 4,274 2,707 — — 2,707 30,588 3,208 1,889 33,796 16,927 — — 16,927 873 25 23 1,311 2,994 23 86 3,017 871 431 489 193 38 4 5 30 — — 110 159 6 84 — — — — 42 5 230 — — — — — — — 9 — 45 19 0 — — — — — — — — — — 230 (230) (—) (230) 376 — 376 (264) (112) (112) (—) (—) (—) (—) (—) (—)(—) (264) 1,437 718 2,155 (183) (579) (886) — — 918 4,330 146 4,477 *1 Provision of allowance for doubtful accounts is the sum total of operating expenses and non-operating expenses.
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The Borrower will not, and will not permit any of its Subsidiaries to, enter into any transactions with any issuer of an Affiliate Investment (including any Investment that becomes an Affiliate Investment as a result of such transaction or any modification, supplement or waiver to an existing Affiliate Investment), even if otherwise permitted under this Agreement, except transactions in the ordinary course of business that are either (i) on terms and conditions not less favorable to the Borrower or such Subsidiary than could be obtained at the time on an arm’s-length basis from unrelated third parties or (ii) in the nature of an amendment, supplement or modification to any such Affiliate Investment on terms and conditions that are similar to those obtained by debt or equity investors in similar types of investments in which such investors do not have the controlling equity interest, in each case, as reasonably determined in good faith by the Borrower.
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If STSnumber of potentially significant negative consequences could result, including: • regulatory authorities may withdraw their approval of STS101; • we may be required to recall the STS101 or change the way it is administered to patients; • additional restrictions may be imposed on the marketing of the STS101 or the manufacturing processes for STS101 or any component thereof; • regulatory authorities may require the addition of labeling statements, such as a “black box” warning or a contraindication similar to those that are currently included with the labels of DHE products; • we may be required to implement a Risk Evaluation and Mitigation Strategy, or create a Medication Guide outlining the risks of such side effects for distribution to patients; • we could be sued and held liable for harm caused to patients; • STS101 may become less competitive; and • our reputation may suffer.
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Because numerous factors affect our comparable store sales growth, including, among others, economic conditions, the retail sales environment, the home improvement spending environment, housing turnover, housing appreciation, interest rates, inflation, the hard surface flooring industry and the impact of competition, the ability of our customers to obtain credit, changes in our product mix, the in-stock availability of products that are in demand, changes in staffing at our stores, cannibalization resulting from the opening of new stores in existing markets, greater cannibalization than we modeled for new stores, lower than expected ramp-up in new store net sales, changes in advertising and other operating costs, weather conditions, retail trends, and our overall ability to execute our business strategy and planned growth effectively, it is possible that we will not achieve our targeted comparable store sales growth or that the change in comparable store sales could be negative.
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Furthermore, if any of our approved products cause serious or unexpected side effects after receiving market approval, a number of potentially significant negative consequences could result, including the following: • regulatory authorities may withdraw their approval of the product or impose restrictions on its distribution in a form of a risk evaluation and mitigation strategy (REMS) plan; • regulatory authorities may require the addition of labeling statements, such as black box or other warnings or contraindications that could diminish the usage of the product or otherwise limit the commercial success of the affected product; • we may be required to change the way the product is administered or to conduct additional clinical studies; • we may choose to discontinue sale of the product; • we could be sued and held liable for harm caused to patients; or • our reputation may suffer.
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All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including but not limited to statements of the plans, strategies, and objectives of management for future operations, including the expected development, implementation, and achievement of environmental, social, and governance policies, goals, and objectives; statements concerning the existing or expected development, performance, addressable market, or market share relating to products or services and the impact of those products and services on global issues, the environment, and other elements of society; statements regarding current or future macroeconomic or market trends and events and the impact of those trends and events on HP and its financial performance; statements about the merits of an investment in HP securities; any statements of expectation or belief; and any statements of assumptions underlying any of the foregoing.
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At the Separation Rapids Project, Avalon plans to implement a number of initiatives which could potentially reduce energy use over that of the original standard technologies evaluated: The sustainable use of the ore body (maximizing recovery of products) could be increased by a factor of or 109,000 tonnes/year Decreased reagent use would decrease GHG production for reagent transport alone by 24,000 tonnes/year 44% or 356,000 tonnes/year Waste from the concentrator would decrease by Through recycling & other synergies, water use / tonne of product would decrease by 60% Indirect sulphur dioxide emissions from sulphuric acid generation would be down by Diversion of waste rock by ore sorting would reduce ore feed to the concentrator by 138,000 tonnes/year Diversion of waste rock by ore sorting would reduce energy requirements in the concentrator by approx.
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The differences could be caused by a number of factors, including without limitation (i) weather conditions, (ii) foreign exchange rates and the cost and availability of transportation for the distribution of the company’s products, (iii) pressure on prices and impact from competitive products, (iv) any inability by the company to successfully implement its strategic priorities or its cost-saving or enterprise optimization initiatives, (v) any inability by the company to grow its business and pursue strategic opportunities, (vi) the risk that the company may not realize the expected financial or other benefits from the proposed development of its lithium mineral resource or its investment in Fortress North America, (vii) the timing and the outcome of the sale process for the company’s South America chemicals business, and (viii) impacts of the COVID-19 pandemic.
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The historical experience is adjusted for the following qualitative factors: (regional and local economic conditions that affect the collectability of the loan portfolio; (3) changes in the experience, ability and depth of lending management and other relevant staff; (4) changes in the volume and severity of past due loans, nonaccrual loans or loans classified special mention, substandard, doubtful or loss; (5) quality of loan review; (6) changes in the nature and volume of the loan portfolio and terms of loans; (7) the existence and effect of any concentrations of credit and changes in the level of such concentrations; (8) changes in collateral dependent loans; and (9) the effect of other external factors, trends or uncertainties that could affect management’s estimate of probable losses, such as competition and industry conditions.
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New Valley’s acquisition of real estate investments are subject to several risks including: underestimated operating expenses for a property, possibly making it uneconomical or unprofitable; a property may fail to perform in accordance with expectations, in which case New Valley may sustain lower-than-expected income or need to incur additional expenses for the property; and New Valley may not be able to sell, dispose or refinance the property at a favorable price or terms, or at all, as the case may be; in addition to any potential loss on a sale, New Valley may have no choice but to hold on to the property and continue to incur net operating losses if underperforming for an indefinite period of time, as well as incur continuing tax, environmental and other liabilities.
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If any of our product candidates receives marketing approval, and causes serious, unexpected, or undesired side effects, a number of potentially significant negative consequences could result after we begin commercialization, including: • regulatory authorities may withdraw, suspend, or limit their approval of the product or impose restrictions on its distribution in the form of a modified risk evaluation and mitigation strategy; • regulatory authorities may require the addition of labeling statements, such as warnings or contraindications; • we may be required to change the way the product is administered or conduct additional clinical trials or post-marketing surveillance; • we could be sued and held liable for harm caused to patients; or • our reputation may suffer.
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The Group’s business operations could be adversely affected or disrupted by terrorist attacks, natural disasters (such as earthquakes, floods, tsunamis, hurricanes, fires or typhoons) or other catastrophic or otherwise disruptive events – including changes to predominant natural weather, sea and climatic patterns, piracy, sabotage, insurrection, military conflict or war, riots or civil disturbance, radioactive or other material environmental contamination, an outbreak of a contagious disease or changes to sea levels – which may adversely affect global or regional trade volumes or customer demand for cargo transported to or from affected areas, or lead to denial of the use of any railway, port, airport, shipping service or other means of transport and disrupt customers’ logistics chains.
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In performing this assessment, the Company considered (i) its influence over the tax structure of Crimson so its operations could be included in the Company's REIT structure under its PLR, which allows fees received for the usage of storage and pipeline capacity to qualify as rents from real property; (ii) the activities of the Company are substantially similar in nature to the activities of Crimson as the Company owns existing transportation and distribution assets at MoGas and Omega; (iii) Crimson's assets represent a substantial portion of the Company's total assets; and (iv) the Grier Members' interest in Crimson in Class A-for Series A Preferred and Class B Common Stock; among other factors.
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While the magnitude of the impacts depends on the scenario, the following are potential physical risks and opportunities presented by climate change that we have identified to date: � Increased average temperatures and increased frequency of extreme heat waves could lead to impacts to utilities demand � Increased annual rainfall and increased frequency of high intensity precipitation events could increase the risk of floods � Increased surface water temperatures in the Great Lakes along with reduced ice coverage could benefit industry with increased length of the shipping season Regarding transitional risks and opportunities, Cleveland-Cliffs’ management team monitors, for example, how potential or emerging regulations, or other external situations can impact the business.
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Among the measures that make up the European Union’s Green Deal, the following are expected to impact our industry in the coming years: (i) implementation of a carbon border adjustment to protect from imports, which may be an obstacle for our industry to preserve free allocation; (ii) stricter enforcement of the existing legislation on energy performance of buildings; (iii) extending the ETS to the maritime sector, and possibly also to other sectors, including those related to construction; (iv) implementation of measures to address pollution from industrial activities; (v) development of a new sustainable finance strategy; and (vi) a review of regulations that cover construction products, as well as other initiatives.
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Our operations, and those of our third party research institution collaborators, CROs, CMOs, suppliers, other contractors and consultants, could be subject to earthquakes, power shortages, telecommunications failures, water shortages, droughts, floods, hurricanes, typhoons, fires, extreme weather conditions, climate change events, medical epidemics, terrorist activities, cyber security attacks and other natural or man made disasters or business interruptions, for which we are predominantly self insured, and other severe hazards or global health crises, such as an outbreak of Ebola or the ongoing global COVID communicable disease or virus, in the countries where we operate or plan to sell our products, if approved, could adversely affect our operations and financial performance.
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Our long-term reduction targets were selected based on a number of factors, including the significant investment we have made in our plants in the past two decades; the use of improved technologies in our plant processes that has resulted in a reduction in GHG emissions; the current limited ability in the United States to use alternative fuels to operate our plants, both from a regulatory and a customer perspective; the stringent requirements included in all of our air permits for our cement and magnesia specialties plants; and the absence of high-emissions sources, such as wet or older cement plants, that could be shut down or removed.
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Compliance with current and future environmental laws, executive orders, regulations and permit requirements governing the withdrawal, storage and use of surface water or groundwater necessary for hydraulic fracturing activities, the injection of waste streams into disposal wells, or any inability to secure transportation and access to disposal wells with sufficient capacity to accept all of our or our customers’ flowback and produced water on economic terms may increase our or our customers’ operating costs and cause delays, interruptions or termination of our or our customers’ operations, the extent of which cannot be predicted but that could be materially adverse to our business and results of operations.
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Weak
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The adoption of additional laws or regulations that apply more comprehensive or stringent safety standards to gas, NGL, crude oil and refined product lines or other facilities, or the expansion of regulatory inspections by regulators, could require us to install new or modified safety controls, pursue added capital projects, make modifications or operational changes, or conduct maintenance programs on an accelerated basis, all of which could require us to incur increased capital and operational costs or operational delays that could be significant and have a material adverse effect on our financial position or results of operations and ability to make distributions to our unitholders.
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Weak
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(d) Use of estimates Financial statements amounts that reflect significant accounting estimates and assumptions mainly include, but are not limited to (i) allowance for doubtful accounts (losses of accounts receivable, insurance premium receivables and other receivables), (ii) valuation and forfeiture rate of share-based compensation arrangements, (iii) operating revenue and cost of revenue recognition, (iv) fair value of long-term investments, (v) useful life of property, plant and equipment and intangible assets, (vi) valuation of acquired assets and liabilities assumed, (vii) assessment for impairment of intangible assets, (viii) realizability of deferred tax assets, (ix) uncertainty tax position and (x) discount rate of lease liability.
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Weak
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Because some environmental laws (such as the Comprehensive Environmental Response, Compensation and Liability Act and analogous state laws) can impose liability retroactively and regardless of fault on potentially responsible parties for the entire cost of cleanup at NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) (Dollar amounts in thousands except per share and share amounts) currently or formerly owned or operated facilities, as well as sites at which such parties disposed or arranged for disposal of hazardous waste, the Company could become liable for investigating or remediating contamination at their current or former properties or other properties (including offsite waste disposal locations).
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Weak
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If our ESG practices, including our goals for sustainabilityff and diversity and inclusion, do not meet evolving rules and regulations or investor or other stakeholder expectations and standards (or if we are viewed in a negative light based on positions we do or do not take or work we do or do not perform for certain clients or industries), then our reputation, our ability to attract or retain leading experts, employees and other professionals, and our ability to attract new engagements and clients could be negatively impacted, as could our attractiveness as an investment, service provider, business partner or acquiror.
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Weak
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Qualitative factors supplement the quantitative factors applied to each segment of the loan portfolio and include: levels of and trends in delinquencies and impaired loans (including TDRs); levels of and trends in charge-offs and recoveries; migration of loans to the classification of special mention, substandard, or doubtful; trends in volume and terms of loans; effects of any changes in risk selection and underwriting standards; other changes in lending policies, procedures, and practices; experience, ability, and depth of lending management and other relevant staff; national and local economic trends and conditions; industry conditions; and effects of changes in credit concentration.
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Weak
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If the prices of crude oil, gasoline and diesel are low or decline, or if the price of RNG or natural gas increases without corresponding increases in the prices of crude oil, gasoline and diesel or Environmental Credits, then we may not be able to offer our customers an attractive price for our vehicle fuels, market adoption of our vehicle fuels could be slowed or limited and/or we may be forced to reduce the prices at which we sell our vehicle fuels in order to try to attract new customers or prevent the loss of demand from existing customers.
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Weak
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Such shortages or disruptions could be caused by inclement weather, natural disasters such as floods, drought and hurricanes, increased demand, labor shortages, problems in production or distribution, restrictions on imports or exports, government levies, political instability in the countries in which suppliers and distributors are located, the financial instability of suppliers and distributors, suppliers’ or distributors’ failure to meet our standards, product quality issues, inflation, other factors relating to the suppliers and distributors and the countries in which they are located, food safety warnings or advisories or the prospect of such pronouncements or other conditions beyond our control.
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Weak
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Citi’s co-branding and private label relationships could be negatively impacted by, among other things, the general economic environment; changes in consumer sentiment, spending patterns and credit card usage behaviors; a decline in sales and revenues, partner store closures, government imposed restrictions, reduced air and business travel, or other operational difficulties of the retailer or merchant; early termination due to a contractual breach or exercise of other early termination right; or other factors, including bankruptcies, liquidations, restructurings, consolidations or other similar events, whether due to the ongoing impact of the pandemic or otherwise (see the pandemic-related risk factor above).
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Weak
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Factors that could cause actual results to differ, possibly materially, from those in the forward-looking statements include, but are not limited to, our ability to formulate and implement plans to reduce our Scope parties, whose actions are outside our control, to reduce our Scope 3 GHGe; and the lack of widely accepted standards for measuring greenhouse gas emissions associated with underwriting, insurance and investment activities, as well as other factors discussed in our 2021 Annual Report on Form 10-K, subsequent Quarterly Reports on Forms 10-Q, and the other filings we make with the Securities and Exchange Commission.
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Weak
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If judicial or other governmental rulings or actions or interpretations of laws adverse to the equipment and consumer finance industries in general or to business practices engaged in by our operating companies, or adverse economic conditions or the occurrence of other significant events such as natural disasters and terrorist attacks, were to occur in a geographic region with a high concentration of leases/loans or equipment/vehicles financed from our operating companies, there could be a material adverse impact on our business, financial condition and results of operations, and the amount of cash available for dividends to our shareholders.
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Weak
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However we note that the recent conflict in the Ukraine, rising energy prices and inflation globally will have macro-economic implications and could be a trigger for recession in the short to medium term, and will have significant impact on clients decision making, albeit as yet we have not experienced any material indication to this effect. n Impairment At the date of each statement of financial position, a review of property, plant and equipment and intangible assets (excluding goodwill) is carried out to determine whether there is any indication that those assets have suffered any impairment.
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Weak
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The Company’s reputation or brand could be adversely impacted by, among other things, (i) any failure to meet its sustainability or ESG plans, targets, or goals, including those that relate to climate change; (ii) the Company’s impact on the environment; (iii) public pressure from investors or policy groups to change the Company’s policies; (iv) customer perceptions of the Company’s advertising campaigns, sponsorship arrangements or marketing programs; (v) customer perceptions of the Company’s use of social media; or (vi) customer perceptions of statements made by the Company, its Employees and executives, agents, or other third parties.
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Weak
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The extent to which Covid-ShaMaran’s business, results of operations and financial condition will depend on future developments, which are highly uncertain and are difficult to predict, including, but not limited to, the duration and spread of the current and any future Covid-19 outbreaks, their severity, the actions taken to contain such outbreaks or treat their impact, and how quickly and to what extent normal economic and operating conditions resume and their impacts to ShaMaran’s business, results of operations and financial condition which could be more significant in upcoming periods as compared with previous periods.
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Weak
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All statements, other than statements of historical or current fact, are statements that could be deemed forward-looking statements, including without limitation: any projections of earnings, revenues or other financial items; any statement of plans, strategies, outlook, growth prospects or objectives of management for future operations; our operational and financial targets; general economic trends, performance or conditions and trends in the industry and markets; the competitive environment in which we operate; any statements concerning proposed new services, technologies or developments; and any statement of belief and any statements of assumptions underlying any of the foregoing.
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Weak
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All real estate taxes, governmental assessments and other similar outstanding governmental charges (including, without limitation, water and sewage charges), or installments thereof, that could be a lien on the related Mortgaged Property that would be of equal or superior priority to the lien of the Mortgage and that prior to the Cut-off Date have become delinquent in respect of each related Mortgaged Property have been paid, or an escrow of funds has been established in an amount sufficient to cover such payments and reasonably estimated interest and penalties, if any, thereon.
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Weak
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Our future effective tax rates could be affected by changes in tax laws or regulations or the interpretation thereof (including those affecting the allocation of profits and expenses to differing jurisdictions), by changes in the amount of revenue or earnings that we derive from international sources in countries with high or low statutory tax rates, by changes in the valuation of our deferred tax assets and liabilities, by changes in the expected timing and amount of the release of any tax valuation allowance, or by the tax effects of stock-based compensation.
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Weak
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Nevertheless, if the IRS were to assert successfully that our loans were secured by property other than real estate, that the interest apportionment regulation applied for purposes of our REIT testing, and that the position taken in Revenue Procedure should be applied to our portfolio, then depending upon the value of the real property securing our loans and their face amount, and the sources of our gross income generally, we might not be able to meet the 75% REIT gross income test, and possibly the asset tests applicable to REITs.
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Weak
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The calculation methodology used to evaluate physical risks follows a similar approach to the one used for determining transition risks and opportunities and is built on three variables based on the IPCC framework: — Climate hazard, which is the probability of occurrence of a climate event that can cause impacts to people, infrastructure, or resources and the potential of the risk’s impact; — Exposure, which is the presence of people, infrastructures or resources that could be negatively impacted; — Vulnerability, which is the propensity or predisposition to be negatively impacted.
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Weak
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Further, statements about the effects of the COVID-operations, financial performance, and prospects may constitute forward-looking statements and are subject to the risk that the actual impacts may differ, possibly materially, from what is reflected in those forward-looking statements due to factors and future developments that are uncertain, unpredictable, and in many cases beyond our control, including the scope and duration of the pandemic, actions taken by governmental authorities in response to the pandemic, and the direct and indirect impact of the pandemic on our customers, third parties, and us.
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Weak
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CBI FCA The post-Brexit regulatory environment (particularly the need to obtain full authorizations on a country-by-country basis) also creates a level of uncertainty regarding the ability and requirements to distribute products and provide investment management services between the and , increasing regulatory burdens and compliance and other costs for funds being distributed in the and funds (such as Irish-domiciled funds) being distributed in the The ability to engage investment managers for funds and funds also could be impacted, resulting in structural and other changes for - and -domiciled funds.
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Weak
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The retail environment and the market for retail space have been, and in the future could be, adversely affected by the COVID-pandemic and measures intended to mitigate its spread, weakness in the national, regional, and local economies, the level of consumer spending and consumer confidence, the adverse financial condition of some large retail companies, the ongoing consolidation in the retail sector, the excess amount of retail space in a number of markets, and increasing competition from discount retailers, outlet malls, internet retailers, and other online businesses.
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Weak
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The following table reflects significant reserves and valuation accounts, which are estimates and based on judgments as described above, at January 2, 2022, and January 3, 2021: Reserves and Valuation Accounts (in millions): (a) 2021 2020 Allowance for doubtful accounts $ 13.8 $ 12.3 Workers’ compensation and general liability reserves (b) $ 5.9 $ 6.2 Environmental reserves (b) $ 6.3 $ 6.5 Other accrued liability reserves (b) $ 12.4 $ 12.9 (a) This table should be read in conjunction with the Notes to Consolidated Financial Statements.
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Weak
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If we fail to continuously refine the algorithms and the data processing and machine learning technologies that we use in our proprietary credit assessment engine, or if these efforts introduce programming or other errors or is otherwise ineffective, or if we fail to continuously expand our data sources or the data provided by customers or third parties is incorrect or obsolete, our loan pricing and approval process could be negatively affected, resulting in mispriced or misclassified loans or incorrect approvals or denials of loan requests.
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Weak
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Meetings were held with the associations which signed the “Memorandum of Understanding for the Hiring of People Facing Hardship” in order to identify operational methods which could accelerate the application of the Memorandum: the meetings resulted in new methods of monitoring ongoing supply, greater clarity in the methods for defining and inserting qualitative parameters in public tenders, projects for identifying operational areas which could be directly assigned to social cooperatives (specifically in the Bologna area, where, at the beginning of separate waste collection were assigned).
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Weak
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Considered good Current portion of loans and advances given to employees Advance to suppliers 15.1 1,774,460 1,346,817 Other advances given to employees - return free - unsecured 15.2 60,046 27,844 Margin held with banks against imports 67,727 9,648 2,189,186 1,636,587 Considered doubtful 17,472 17,742 2,206,658 1,654,329 Less: Provision for doubtful loans and advances 17,472 17,742 2,189,186 1,636,587 15.1 Includes advances made to various oil marketing companies by the Holding Company in respect of procurement of fuel amounting to PKR 293.797 million (2020: PKR 107.979 million).
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Weak
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We have entered into indemnification agreements with our directors and officers that require us to indemnify our directors and officers against liabilities that may arise by reason of their status or service as directors or officers, other than liabilities arising from willful misconduct of a culpable nature; to advance their expenses incurred as a result of any proceeding against them as to which they could be indemnified; and to obtain directors’ and officers’ insurance if available on reasonable terms, which we currently have in place.
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Weak
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Maintaining the popularity of our content will be challenging, and our relationship with music fans could be harmed for many reasons, including the quality and diversity of our online content, quality of the experience with a particular festival, event or club, our competitors developing relationships with more popular festivals, events or clubs or attracting talent from our businesses, adverse occurrences or publicity in connection with a festival, event or club and changes to public tastes that are beyond our control and difficult to anticipate.
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Weak
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The Company records an allowance for doubtful accounts for receivable balances in an amount that is deemed by management to be sufficient to cover probable losses in accounts receivable, based on the analysis of the history of receipts and current guarantees and it does not expect to incur in additional significant losses. Inventories of supplies for consumption and maintenance of the water and sewage systems are stated at the lower of average cost of acquisition or realizable value, and are classified in current assets.
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Weak
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Additionally, we have agreed in the past, and may agree in the future, to act as guarantor in connection with equity or debt raises by our partner companies, pursuant to which we may become obligated either to pay what could be a significant amount of cash or issue what could be a significant number of shares of Fortress common stock if certain events occur or do not occur, which could lead to a depletion of resources or dilution to our common stock, or both.
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Weak
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The risk Our response Cost of sales recognition and carrying amount of both land held for development and work in progress The effect of these matters is that as part of our risk assessment we determined that cost of sales and carrying amount of work in progress and land held for development have a high degree of estimation uncertainty, with a potential range of reasonable outcomes greater than our materiality for the financial statements as a whole and possibly many times that amount.
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Weak
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Increasing Decreasing No change Risk – Restrictions to contain pandemic disease, such as Covid- impact our operations due to the closure of stores, reduced footfall and additional health and safety procedures – Our operations, customer safety, reputation or financial performance could be adversely affected by a major event such as a terrorist attack, significant geopolitical volatility, flood, power shortage, civil unrest or pandemic disease – The increasing reliance on and use of digital technology heighten the risks associated with IT and cyber security.
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Weak
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For example, there could be: — changes in retail tenancy laws that limit Westfield Corporation’s recovery of certain property operating expenses; — new or revised legislation on climate change and energy such as emissions trading, targets for renewable energy and energy efficiency, the costs of which may not be recoverable from tenants; — changes or increases in real estate taxes that cannot be recovered from Westfield Corporation’s tenants; or — changes in environmental or building laws or codes that require significant capital expenditures.
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Weak
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Now that the entire production process will be done in Stickney, once the new facility is up and running, designers were surprised to find that an energy savings was possible by continuing to perform the “pre-wash” function (since the acids have the same boiling point as naphthalene) – and that those tar acid byproducts, when added to carbon dioxide, could be used as fuel in other parts of the plant, creating an energy surplus and a built-in way to put it to use.
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Weak
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When considering potential share repurchase programs, the Board consults with the Investment Manager and reviews a number of factors including the available unencumbered cash and the likelihood that such cash could be deployed into an attractive new investment in a given market environment, the level at which current portfolio holdings trade relative to their intrinsic values, the Company’s leverage, the discount to NAV at which the shares would be repurchased and the impact further reductions would have on the Company’s free float.
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Weak
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If the U.S.’s relationship with China results in additional trade disputes, trade protection measures, retaliatory actions, tariffs and increased barriers, policies that favor domestic industries, or increased import or export licensing requirements or restrictions, then our deployment of resources in jurisdictions affected by such measures could be misaligned and our operations may be adversely affected due to such changes in the economic and political ecosystem in which our suppliers, vendors, customers, partners, and other entities with whom we do business operate.
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Weak
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Continued instability in the Middle East and the occurrence or threat of terrorist attacks in the United States or other countries could adversely affect the global economy in unpredictable ways, including the disruption of energy supplies and markets, increased volatility in commodity prices, or the possibility that the infrastructure on which we rely could be a direct target or an indirect casualty of an act of terrorism, and, in turn, could materially and adversely affect our business and results of operations.
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Weak
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As a result, our operations could be subject to significant interruption if any of our refineries or other facilities were to experience a major accident, be damaged by severe weather or other natural disaster, or otherwise be forced to shut down or curtail production due to unforeseen events, such as acts of God, nature, orders of governmental authorities, supply chain disruptions impacting our crude rail facilities or other logistics assets, power outages, acts of terrorism, fires, toxic emissions and maritime hazards.
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Weak
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substances the Company transports; (iii) soil or groundwater contamination is found at or near the Company’s facilities or results from its operations; or (iv) the Company is found to be in violation of, or fails to comply with, applicable environmental laws or regulations, then it could be subject to clean-up costs and liabilities, including substantial fines or penalties or civil and criminal liability, any of which could have a materially adverse effect on the Company’s business and results of operations.
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Weak
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If this decline in industry-wide shipments continues and Liggett is unable to capture market share from its competitors, or if the industry as a whole is unable to offset the decline in unit sales with price increases, or if Liggett’s market share percentage falls below its MSA payment exemption percentage, or if prevailing inflation rates continue, Liggett’s sales volume, operating income and cash flows could be negatively affected, which in turn could negatively affect the value of our common stock.
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Weak
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If hydrocarbons or other wastes have been disposed of or released on or under the properties that we own or lease or on or under locations where such wastes have been taken for disposal by us or prior owners or operators of such properties, we could be subject to liability under the Comprehensive Environmental Response, Compensation and Liability Act (“CERCLA”), RCRA and analogous state laws, as well as state laws governing the management of crude oil and natural gas wastes.
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Weak
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Judgment is required in the estimation of the allowance for doubtful accounts and the Company evaluates the collectability of its accounts receivable based on a combination of factors including , among other things, the past experience with customers, the length of time that the balance is past due using an aging schedule, the customer's current ability to pay and their the creditworthiness using all available information about the credit risk on such customers taking into consideration the current business environment.
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Weak
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Consumer demand for our customers’ products could be adversely affected by, among other things, delays in health regulatory approval, the inability of our customers to demonstrate the efficacy and safety of their products, the loss of patent and other intellectual property rights protection, the emergence of competing or alternative products, including generic drugs, the degree to which private and government payment subsidies for a particular product offset the cost to consumers and changes in the marketing strategies for such products.
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Weak
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In fiscal were $143.9 million, depreciation and amortization $95.9 million, stock-based compensation $24.3 million, non-cash charges relating to exit charges of $6.5 million, primarily relating to the Hagen, Germany plant closure and exiting our operations in Russia following the conflict in Ukraine, loss on valuation of the assets held for sale in India of $3.0 million, allowance for doubtful debts of $2.6 million, non-cash interest of $2.1 million and non-cash charges for impairment of indefinite-lived intangibles of $1.2 million.
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Weak
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In addition, if we fail to comply with applicable laws and regulations or implement responsible business, social, environmental and supply chain practices, we could be subject to damage to our reputation, class action lawsuits, regulatory investigations, legal and settlement costs, charges and payments, civil and criminal liability, increased cost of regulatory compliance, losing our ability to accept credit and debit card payments from our customers, restatements of our financial statements, disruption of our business and loss of customers.
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Weak
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Increased energy or compliance costs and expenses due to the impacts of climate change and additional legal or regulatory requirements regarding climate change or designed to reduce or mitigate the effects of carbon dioxide and other greenhouse gas emissions on the environment could be costly and may cause disruptions in, or an increase in the costs associated with, the running of our manufacturing and processing facilities and our business, as well as increase distribution and supply chain costs.
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Weak
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In addition, future acts of terrorism and possible reprisals as a consequence of action by the U.S. and its allies could be directed against companies operating in the U.S. Information technology systems, transportation systems for our fuel sources including natural gas pipelines, transmission and distribution and generation facilities such as nuclear plants could be potential targets of terrorist activities or harmful activities by individuals or groups that could have a material adverse effect on Duke Energy Registrants’ businesses.
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Weak
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While we endeavor to provide adequate protection for the safe handling of these materials, issues could be created by various events, including natural disasters, severe weather events, acts of sabotage and performance by third parties, and as a result we could face potential hazards, including the following: piping and storage tank leaks and ruptures; mechanical failure; employee exposure to hazardous substances; and chemical spills and other discharges or releases of toxic or hazardous substances or gases.
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Weak
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Now, with regard to my feeling about why I thought that his record bespoke his possible taking us back to the same things that we knew under the previous administration, his record is that he spoke in praise of deficits several times, said they weren't to be abhorred -- that, as a matter of fact, he at one time said he wished the deficit could be doubled, because they stimulate the economy and helped reduce unemployment.
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Weak
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However, if there is a future significant improvement in the performance and value of Antucoya, for example due to one, or a combination of, the following – a significant increase in the long-term copper price outlook, strong operational performance that is expected to be sustained into the future, and/or positive resolution of uncertainty with the regulatory and taxation environment in Chile – a full or partial reversal of these impairments could be triggered in future periods.
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Weak
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Future impacts to our business and customers could be widespread and material, such as increased unemployment, supply-chain interruptions; declines in demand for loans and other banking services and products; reduction in business activity and financial transactions; increased commercial property vacancy rates, declines in the value of loan collateral, including energy and real-estate collateral; declines in the credit quality of our loan portfolio; volatile performance of our investment securities portfolio; and overall economic and financial market instability.
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Weak
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The Company enters into indemnification agreements with each of its executive officers and directors containing provisions that may require the Company, among other things, to indemnify them against certain liabilities that may arise by reason of their status or service as officers or directors (other than liabilities arising from willful misconduct of a culpable nature) and to advance their expenses incurred as a result of any proceeding against them as to which they could be indemnified.
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Weak
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Major contract performance is reviewed in senior management meetings against time, cost and quality goals Customer concentration Customer concentration is high in both divisions of the Group and our relationships with these key customers could be materially adversely affected by several factors, including: a decision to diversify or change how, or from whom, they source components that we currently provide, an inability to agree on mutually acceptable pricing or a significant dispute with the Group.
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Weak
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Physical risks In the long-term, physical climate-related risks may impact our business operations, but as a relatively asset light business the largest impact will be on the residential property markets that we operate in: - As temperature rises and extreme weather events become more regular, climate change predictions suggest that by the London could be some 2 degrees hotter with wetter winters and drier summers, leading to changes in customer behaviour and wider social impacts.
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Weak
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Given the unpredictability of the timing, nature and scope of information technology disruptions, there can be no assurance that the procedures and controls that we employ will be sufficient to prevent security breaches from occurring and we could be subject to manipulation or improper use of our systems and networks or financial losses from remedial actions, any of which could have a material adverse effect on our business, financial condition and results of operations.
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Weak
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Our results of operations in the near term could be impacted by a number of factors, including (necessary capital expenditures, (2) the availability of transportation for coal shipments, (3) poor mining conditions resulting from geological conditions or the effects of prior mining, (4) equipment problems at mining locations, (5) adverse weather conditions and natural disasters or (6) the availability and costs of key supplies and commodities such as steel, diesel fuel and explosives.
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Weak
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a further eight land holdings at four of our sites are classified as possibly contaminated – investigation required, including the bunbury site referred to above, and four landholdings at two sites (our kwinana site and geraldton area c) are still awaiting classification at soil and groundwater at our laverton site are affected by chemicals consistent with activities formerly conducted at an adjacent site by another operator, not associated with the manufacture of PVc.
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Weak
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If an entity is deemed to be a VIE pursuant to ASC the enterprise that has both (i) the power to direct the activities of the VIE that most significantly impacts the entity’s economic performance and (ii) the obligation to absorb the expected losses of the entity or right to receive benefits from the entity that could be potentially significant to the VIE is considered the primary beneficiary and must consolidate the VIE.
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Weak
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(exhaustive example only: (i) adjustments for adaptation of value following impairment tests and consequent adjustments of depreciation and amortization, (ii) elimination of gains from intercompany sales of assets and consequent adjustments of depreciation and amortization and (iii) accounting records for management of derivatives, at the reversal of the Cash Flow Hedge reserve for a possibly different qualification of the transaction between the stand-alone view of the companies and that of the Group.
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Weak
|
The provision for doubtful accounts related to trade accounts receivable was as follows: Years Ended December (In thousands) 2021 2020 2019 Provision for expected credit losses and doubtful accounts related to trade accounts receivable $ 589 $ 1,961 $ 7,123 The provision for doubtful accounts in 2019 primarily included a provision in the Harsco Environmental Segment related to a customer in the U.K entering administration which was subsequently written off in 2020.
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Weak
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As an owner of such properties, we could become subject to environmental liabilities and incur substantial costs for any property damage, personal injury, investigation and clean-up that may be required due to any environmental contamination that may be found to exist at any of those properties, even if we did not engage in the activities that led to such contamination and those activities took place prior to our ownership of the properties.
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Weak
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Our worldwide operations could be disrupted by earthquakes, telecommunications failures, manufacturing equipment failures, cybersecurity incidents, power or water shortages, natural disasters, fires, extreme weather conditions (whether as a result of climate change or otherwise) such as those described in “Climate change may have a long-term impact on our business” below, medical epidemics or pandemics (such as COVID-19) and other natural or man-made disasters or catastrophic events, for which we are predominantly self-insured.
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Weak
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Governor, since the Democrats last ran our foreign policy, including many of the men who are advising you, country has been relieved of the Vietnam agony and the military draft, we've started arms control negotiations with the Russians, we've opened relations with China, we've arranged the disengagement in the Middle East, we've regained influence with the Arabs without deserting Israel, now, maybe we've even begun a process of peaceful change in Africa.
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Weak
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We’ve signed a Letter of Intent with Ørsted at Lingen refinery to explore the potential of building a green hydrogen facility and in we announced a feasibility study in Australia with ARENA (Australian Renewable Energy Agency) to explore the use of solar energy to power the production of green hydrogen, which in turn could be used to create green ammonia for a clean energy carrier, targeted at domestic and export markets.
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Weak
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Installation of additional emissions control technology and any additional measures required under applicable federal and state laws and regulations related to air emissions will make it more costly to operate coal-fired power plants and possibly other facilities that consume coal and, depending on the requirements of individual state implementation plans (“SIPs”), could make fossil fuels a less attractive fuel alternative in the planning and building of power plants in the future.
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Weak
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In addition, the global macroeconomic environment could be negatively affected by, among other things, the COVID- economic markets, increased U.S. trade tariffs and trade disputes with other countries, instability in the global credit markets, supply chain weaknesses, instability in the geopolitical environment as a result of the withdrawal of the United Kingdom from the European Union, the Russian invasion of the Ukraine and other political tensions, and foreign governmental debt concerns.
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Weak
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Statements about our expected provisions for credit losses are subject to the risk that actual credit losses may differ and our expectations may change, possibly materially, from that currently anticipated due to, among other things, changes to the composition of our loan portfolio and changes in the economic environment in future periods and our forecasts of future economic conditions, as well as changes in our models, policies and other management judgments.
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Weak
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