Marked against last year's 10-K:
cut words struck through, new words highlighted and underlined.
Risk Factors 177 words changed in this paragraph; it is 43% similar to last year's version.
Demand for our security products and solutions relies on the institutional, commercial, and residential construction and remodeling markets, which are marked by cyclicality based on national, regional and local economic conditions, including consumer confidence and disposable income, corporate and government spending, work-from-home trends, availability of credit and demand for new housing and infrastructure. As a result, weakness or instability in one or more of these markets could slow demand for new construction or remodeling projects and cause current and potential customers to delay or cancel capital projects or otherwise choose not to make purchases, which could negatively impact the demand for our products and solutions and result in declines in our revenues, profitability and cash flows. In the recent past, our business operations and performance were also impacted by global macroeconomic challenges, including supply chain disruptions and delays, material, electronic component and labor shortages, prolonged periods of cost inflation, and increased interest rates. Negative macroeconomic trends, future market disruptions or uncertainty related to potential changes to fiscal and monetary policy and/or trade policy, including the imposition, or threatened imposition, of tariffs and potential retaliatory trade restrictions, may make it more challenging for us to manufacture and deliver products to our customers, could cause periodic production interruptions and supply constraints, impact our ability to forecast and plan for future business activities and, if not adequately managed by us, could cause a material adverse impact on our business, results of operations, financial condition and cash flows.
Source: Item 1A, 10-K 0001579241-26-000007 vs Item 1A, 10-K 0001579241-25-000008
Accounting Policies 128 words changed in this paragraph; it is 34% similar to last year's version.
In December 2023, the FASB issued Accounting Standards Update (ASU) No. 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures”, which modifies the rules on income tax disclosures to require entities to disclose (1) specific categories in the rate reconciliation, (2) the income or loss from continuing operations before income tax expense or benefit (separated between domestic and foreign) and (3) income tax expense or benefit from continuing operations (separated by federal, state and foreign). This ASU also requires entities to disclose their income tax payments to international, federal, state and local jurisdictions, among other changes. This guidance will be effective for the annual periods beginning after December 15, 2024. Early adoption is permitted for annual financial statements that have not yet been issued or made available for issuance. This ASU should be applied on a prospective basis, but retrospective application is permitted. This ASU will likely result in additional required disclosures in the Company's Consolidated Financial Statements once adopted.
Source: 10-K text, Note 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, 10-K 0001579241-26-000007 vs 10-K text, Note 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, 10-K 0001579241-25-000008
MD&A 110 words changed in this paragraph; it is 50% similar to last year's version.
We have an unsecured revolving credit agreement facility (the "Revolving Facility") in place, consisting of a $250.0 million term loan facility (the "Term Facility"), of which $212.5 $190.6 million was outstanding at December 31, 2024, 2025. We paid the outstanding $212.5 million principal balance and interest on a revolving credit term loan facility (the "Revolving Facility" and, together with during the Term Facility, the “Credit Facilities”), of which there was no balance outstanding at year ended December 31, 2024. 2025 using cash on hand and borrowings under the Revolving Facility. On May 20, 2024, December 9, 2025, we amended and restated the Credit Facilities Revolving Facility which, among other things, (i) increased the total commitment on the Revolving Facility from $500.0 $750.0 million to $750.0 million, (ii) $1.0 billion, and extended the maturity of the Revolving Facility from November 18, 2026 May 20, 2029 to May 20, 2029, and (iii) transitioned the benchmark interest rate from the Bloomberg Short-Term Bank Yield Index (“BSBY”) to the Secured Overnight Financing Rate (“SOFR”) for the Credit Facilities. 2030.
Source: Item 7, 10-K 0001579241-26-000007 vs Item 7, 10-K 0001579241-25-000008
Legal Proceedings 31 words changed in this paragraph; it is 83% similar to last year's version.
As of December 31, 2024 2025 and 2023, 2024, the Company has recorded reserves for environmental matters of $ 17.8 22.7 million and $ 20.2 17.8 million, respectively. The total reserve at December 31, 2024 2025 and 2023, 2024, included $ 9.9 9.3 million and $ 11.2 9.9 million, respectively, related to remediation of sites previously disposed by the Company. Environmental reserves are classified as Accrued expenses and other current liabilities or Other noncurrent liabilities within the Consolidated Balance Sheets based on the timing of their expected future payment. The Company's total current environmental reserve at December 31, 2025 and 2024, was $ 6.0 million and $ 2.4 million, respectively, and the remainder is classified as noncurrent.
Source: Item 3, via Note 19 – COMMITMENTS AND CONTINGENCIES, 10-K 0001579241-26-000007 vs Item 3, via Note 21 – COMMITMENTS AND CONTINGENCIES, 10-K 0001579241-25-000008
