Sotera Health Co SHC
New risk paragraphs, branching off last year
Each branch is a paragraph in Risk Factors with nothing like it in the 10-K filed Feb 27, 2025. A box jumps to the paragraph as filed, below.
Paragraphs with nothing like them in last year's 10-K
5 paragraphs in Risk Factors of the 10-K filed Feb 24, 2026 with nothing like them in the 10-K filed Feb 27, 2025. Quoted exactly. Paragraphs that were only edited are under 10-K change.
imposes new requirements such as higher efficiencies for EO emission controls, implementation of permanent total enclosure capture technology, and use of CEMS. The revised final NESHAP regulation generally allows two years for compliance. On March 12, 2025, the U.S. EPA announced that it was reconsidering the NESHAP regulation applicable to commercial sterilizers. On July 17, 2025, the White House issued a CAA proclamation providing a two-year exemption for certain sterilization facilities to allow time to obtain and install new control technology and implement required changes. Although our operations are covered by this exemption, we continue progressing certain changes to our facilities to comply with the final NESHAP EO sterilizer regulation. Additionally, a complaint was filed in January 2026 in the U.S. District Court for the District of Columbia against the President, U.S. EPA and the U.S. EPA Administrator seeking injunctive relief that would, if granted, invalidate the exemption and therefore require our facilities to comply with the original timeframe.
Despite the Company’s security measures, cybersecurity threats, cybersecurity incidents, outages, malfunctions, or disruptions involving our systems or those of our third party business partners, or any failure by us or our third-party business partners to
We may be incorporating AI technologies into our products, services and processes, which may present business, compliance and reputational risks.
The introduction of AI and machine-learning technologies, into internal processes, third-party services and/or new and existing offerings may result in new or expanded risks and liabilities, including due to enhanced governmental or regulatory scrutiny, litigation, compliance issues, ethical concerns, confidentiality or security risks, as well as other factors that could adversely affect our business, reputation and financial results. In addition, our personnel could, unbeknownst to us, improperly utilize AI and machine learning-technology while carrying out their responsibilities. The use of AI in third-party services and the development of our products and services could also cause loss of intellectual property, as well as subject us to risks related to intellectual property infringement or misappropriation, data privacy and cybersecurity. The use of AI can lead to unintended consequences, including generating content that appears correct but is factually inaccurate, misleading or otherwise flawed, or that results in unintended biases and discriminatory outcomes, which could harm our reputation and business and expose us to risks related to inaccuracies or errors in the output of such technologies. The Company has established a cross-functional AI committee intended to support the identification and mitigation of risks associated with incorporating AI technologies into our processes.
As of December 31, 2025, our total indebtedness was approximately $2,169.5 million, all of which is indebtedness of our subsidiary Sotera Health Holdings, LLC (“SHH”) that is guaranteed by the Company and certain of our other subsidiaries.
Paragraphs in the 10-Q filed Nov 3, 2026 that were not in the one before
New in the latest 10-Q
1 paragraph in the 10-Q filed Nov 3, 2026 with nothing like it 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
Nine Months Ended September 30, 2026 2025 ────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────── Operating activities: Net income $ 138,623 $ 43,102 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation 80,039 67,934 Amortization of intangible assets 16,691 36,246 Loss on refinancing of debt 936 1,167 Deferred income taxes 25,209 (16,913) Share-based compensation expense 29,342 23,310 Accretion of asset retirement obligations 1,935 1,737 Unrealized foreign exchange (gain) loss, net (4,010) 8,378 Unrealized gain on derivatives not designated as hedging instruments (310) (605) Amortization of debt issuance costs 4,623 3,950 Other (4,043) (3,749) Changes in operating assets and liabilities: Accounts receivable (16,145) 2,656 Inventories 2,785 1,377 Other current assets (11,018) (18,948) Accounts payable (3,322) (2,802) Accrued liabilities 8,122 13,279 Illinois EO litigation settlement (34,000) 34,000 Income taxes payable / receivable, net (3,915) (9,544) Other liabilities (152) (144) Other long-term assets (2,911) (340) Net cash provided by operating activities 228,479 184,091 Investing activities: Purchases of property, plant and equipment (145,450) (87,319) Other investing activities 5,275 2,874 Net cash used in investing activities (140,175) (84,445) Financing activities: Payment of long-term borrowings (7,097) (82,547) Payments of debt issuance costs and debt discount (1,140) (3,919) Shares withheld for employee taxes on equity awards (9,359) (3,861) Other financing activities 618 (2,032) Net cash used in financing activities (16,978) (92,359) Effect of exchange rate changes on cash and cash equivalents (5,389) 14,874 Net increase in cash and cash equivalents, including restricted cash 65,937 22,161 Cash and cash equivalents, including restricted cash, at beginning of period 346,456 278,865 Cash and cash equivalents, including restricted cash, at end of period $ 412,393 $ 301,026 Supplemental disclosures of cash flow information: Cash paid during the period for interest $ 106,179 $ 129,600 Cash paid during the period for income taxes, net of tax refunds received 39,795 47,607 Purchases of property, plant and equipment included in accounts payable 30,620 17,215
Read in the 10-Q
The 10-Q's risk factors against the 10-K
Item 1A of the 10-Q filed Nov 3, 2026 against Item 1A of the 10-K filed Feb 24, 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).
Text on the page, not a score; each links to the filing at sec.gov.
What the 10-Q itself says about its risk factors:There have been no material changes from the risk factors previously described under Item 1A of our 2025 Form 10-K.
Read in the 10-Q
1 paragraph in the 10-Q's Item 1A, and none of them adds, rewords or quietly edits a paragraph of the 10-K's.
Phrases used for the first time
Two-word phrases in Risk Factors of the 10-K filed Feb 24, 2026 that are in none of the 1 earlier 10-Ks stored, back to Feb 27, 2025
Where each one is used
- federal government: •business continuity hazards, including supply chain disruptions, federal government shutdowns, and other risks associated with our operations;
- government shutdowns: •business continuity hazards, including supply chain disruptions, federal government shutdowns, and other risks associated with our operations;
- pending lawsuits: In January 2023, the Defendant Subsidiaries entered into binding term sheets that provided an agreed path to pay $408.0 million to settle over 880 claims related to our former facility in Willowbrook, Illinois, including the claim of the plaintiff in the first trial. The settlement was finalized in June 2023. In...
- asserted claims: In January 2023, the Defendant Subsidiaries entered into binding term sheets that provided an agreed path to pay $408.0 million to settle over 880 claims related to our former facility in Willowbrook, Illinois, including the claim of the plaintiff in the first trial. The settlement was finalized in June 2023. In...
- file lawsuits: In January 2023, the Defendant Subsidiaries entered into binding term sheets that provided an agreed path to pay $408.0 million to settle over 880 claims related to our former facility in Willowbrook, Illinois, including the claim of the plaintiff in the first trial. The settlement was finalized in June 2023. In...
- many countries: We may be adversely affected by global and regional economic and political conditions. For example, the uncertainty or deterioration of the global economic and political environment could adversely affect us. Russia’s invasion of Ukraine has significantly elevated global geopolitical tensions and continues to cause...
- international trade: •the imposition of or increases in duties and tariffs on foreign imports into the United States, particularly from Canada, China and Mexico, by the United States, as well as duties and tariffs and any retaliatory measures imposed by Canada or other countries, as well as other new restrictions on international...
- cybersecurity risks: Like other companies, we increasingly rely on IT systems and networks and related services to conduct business, some of which are managed, hosted and/or provided by our third-party business partners. Our IT systems and infrastructure, and those of our third-party business partners, are potentially vulnerable to...
Used at least twice, small words left out. Counted, not picked: a phrase can be new because the company renamed something.
What was taken out
9 paragraphs of last year's Risk Factors with nothing like them now. The longest are quoted.
Sources
Item 1A of each 10-K and 10-Q on EDGAR, quoted exactly. Each paragraph links to the filing at sec.gov.
Also
10-K change: what was reworded or cut, section by section.
Work with it
Excel workbook · CSV. Google Sheet that stays up to date: paste =IMPORTDATA("https://tickdelta.com/company/SHC/export.csv") into a cell.