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2 paragraphs in Risk Factors of the 10-K filed Feb 23, 2026 with nothing like them in the 10-K filed Feb 21, 2025. Quoted exactly. Paragraphs that were only edited are under 10-K change.

Compared with the Risk Factors in the latest 10-K of the other 23 Materials companies: a paragraph with at least half its words the same at another company is called similar, and the companies are listed under it. A paragraph most of them have is marked boilerplate. No line means no other company has one like it. This counts text; it does not say how serious a risk is.

Notwithstanding our emphasis on safety and the precautions we take related to health and safety, we may be unable to avoid safety incidents relating to our operations that result in injuries or deaths of our employees, contractors or others. Certain safety incidents may result in legal or regulatory action that could result in increased expenses or reputational damage. We maintain workers' compensation and other insurances to address the risk of incurring material liabilities for injuries or deaths, but there can be no assurance that the insurance coverage will be adequate or will continue to be available on terms acceptable to us, or at all, which could result in material liabilities to us for any injuries or deaths. Changes to federal, state, and local employee health and safety regulations, and legislative, regulatory, or societal responses to safety incidents may result in heightened regulations or public scrutiny that may increase our compliance costs or result in reputational damage.

Similar paragraph at 1 of 23 other Materials companies: APD

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On July 4, 2025, the One Big Beautiful Bill Act (“OBBBA”) was enacted in the U.S. The OBBBA includes significant provisions, such as permanent extension of certain expiring provisions of the Tax Cuts and Jobs Act, modifications to the international tax framework and the restoration of favorable tax treatment for certain business provisions. The legislation has multiple effective dates, with certain provisions effective in 2025 and others implemented through 2027. An estimate of the financial impact has been included in operating results as of December 31, 2025. While we expect certain provisions of OBBBA to change the timing of U.S. cash taxes related to the current and future periods, OBBBA did not have a material impact to the Company’s income tax expense.

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New in the latest 10-Q

8 paragraphs in the 10-Q filed Oct 29, 2026 with nothing like them in the 10-Q filed Aug 6, 2026 (at least half the words must differ; new numbers alone do not count). Quoted exactly, grouped by the item heading above them. This is text that changed, not a judgement of how serious it is.

Financial statements and notes

On July 2, 2026, the Company completed its acquisition of CoolIT Systems and paid $ 4,627 million in cash, net of cash acquired and after

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adjustments defined in the purchase agreement. The pro forma financial information is not material to the Company's consolidated financial statements; therefore, this is not presented. In the third quarter of 2026, the business became part of the Company’s Global Water reportable segment.

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Tangible assets acquired primarily consist of accounts receivable of $ 85.2 million, inventory of $ 55.5 million and property, plant and equipment of $ 26.3 million. Liabilities assumed primarily consist of deferred tax liabilities of $ 320.4 million and accrued compensation and benefits of current liabilities of $ 144.7 million. Identified intangible assets primarily consist of customer relationships, acquired technologies, and trade names and are being amortized over average lives of 17, 14, and 11 years, respectively, with a weighted average life of 15 years.

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Goodwill of $ 3,251.1 million arising from the acquisition consists largely of the synergies and innovative products added to the Company's Global High Tech business. Goodwill is not expected to be deductible for income tax purposes.

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In October 2026, the Company settled ₣550 million of its existing Swiss Franc cross-currency swap derivative contracts that were designated as net investment hedges and simultaneously executed replacement cross-currency swap derivative contracts for the same notional value. There was no material impact on the Consolidated Statements of Income as a result of these transactions.

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Cash used for investing activities is primarily impacted by business acquisitions and capital investments in the business.

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Cash used for acquisitions and investments in affiliates, net of cash acquired, in the first nine months of 2026 and 2025 was $4.7 billion and $0.5 million, respectively. Cash used for acquisitions and investments in affiliates, net of cash acquired, in 2026 primarily relates to the CoolIT Systems acquisition.

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In October 2026, we settled ₣550 million of our existing Swiss Franc cross-currency swap derivative contracts that were designated as net investment hedges and simultaneously executed replacement cross-currency swap derivative contracts for the same notional value. There was no material impact on the Consolidated Statements of Income as a result of these transactions.

Read in the 10-Q ↗

The 10-Q's risk factors against the 10-K

Item 1A of the 10-Q filed Oct 29, 2026 against Item 1A of the 10-K filed Feb 23, 2026. A 10-Q repeats only the risks that changed, so a 10-K paragraph that is missing from it is not counted as removed. Added is a paragraph with nothing like it in the 10-K, Reworded a sentence that is in both with several words changed, Quiet changes a sentence in both where one to four words changed and one is a hedge or a modal (cut words struck through, new words highlighted and underlined). Text on the page, not a score; each links to the filing at sec.gov.