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Research and development expenses increased in fiscal 2026 due to increased costs to develop, support, and maintain our new and existing products, including the integration costs associated with the WorkForce Software acquisition.

Item 7, MD&A, 10-K Aug 5, 2026open_in_new

Depreciation and amortization increased in fiscal 2026 due to the amortization of investments in internally developed software primarily for our products and solutions, intangible assets acquired in the WorkForce Software acquisition, and purchased software, partially offset by lower amortization of customer contracts and lists.

Item 7, MD&A, 10-K Aug 5, 2026open_in_new

… The Company’s unionized workforce makes up approximately 84 percent of its Employees and many have had pay scale increases as a result of contractual rate increases, which has increased the Company’s labor costs. Further, in response to staffing …

Item 1A, Risk Factors, 10-K Feb 5, 2026open_in_new

The Company's business is labor intensive, with most Employees represented by labor unions; therefore, the Company could be materially adversely affected in the event of conflict with its Employees or its Employees' representatives.

Item 1A, Risk Factors, 10-K Feb 5, 2026open_in_new

significant number of our employees are represented by labor unions under collective bargaining agreements, and many of our European

Item 1A, Risk Factors, 10-K Jan 29, 2026open_in_new

Labor disputes, collective bargaining obligations, and other labor actions could disrupt our operations and increase our costs. A

Item 1A, Risk Factors, 10-K Jan 29, 2026open_in_new

… Challenges in the labor market are addressed through targeted talent acquisition, partnerships with community colleges, apprentice school sourcing and recruiting, workforce succession planning, and initiatives to retain employees. Labor shortages and retention are also impacting our supply chain, resulting in …

Item 7, MD&A, 10-K Feb 5, 2026open_in_new

… Factors that have caused, and may in the future cause, contract cost growth include, but are not limited to, inflation, changes in trade policy (including tariffs), technical challenges, manufacturing difficulties, delays, workforce-related issues, including labor shortages and reduced productivity …

Item 1A, Risk Factors, 10-K Feb 5, 2026open_in_new

2025 Acquisitions and Investments. During 2025, we acquired a company within the Workforce Solutions operating segment.

Item 7, MD&A, 10-K Feb 19, 2026open_in_new

• differing labor, intellectual property protection and technology standards and regulations;

Item 1A, Risk Factors, 10-K Feb 19, 2026open_in_new

Some of our and our suppliers’ workforces are represented by labor unions. Work stoppages by our employees have adversely affected and could continue to adversely affect our business, financial condition, results of operations and/or cash flows. Future work stoppages by our or our suppliers’ employees could also adversely impact our business.

Item 1A, Risk Factors, 10-K Jan 30, 2026open_in_new

… New union contracts have in the past and could in the future adversely impact our financial position, results of operations and cash flows. The unions may also limit our flexibility in managing our workforce and operations. Work stoppages and instability …

Item 1A, Risk Factors, 10-K Jan 30, 2026open_in_new

Increases in our labor costs as a result of unions organizing, Multiemployer Pension Plan withdrawals, changes in regulations related to labor unions or increases in minimum wages, could adversely affect our future results.

Item 1A, Risk Factors, 10-K Feb 9, 2026open_in_new

Labor unions continually attempt to organize our employees, and these efforts will likely continue in the future. Certain groups of our employees are currently represented by unions, and we have negotiated collective bargaining agreements with these unions. Additional groups of employees may seek union representation in the future, and, if successful, would enhance organized labor’s leverage to obtain higher than expected wage and benefits costs and resist

Item 1A, Risk Factors, 10-K Feb 9, 2026open_in_new

Restructuring actions relate to ongoing cost reduction efforts driven by various workforce reductions.

Item 7, MD&A, 10-K Feb 6, 2026open_in_new

Restructuring actions relate to ongoing cost reduction efforts including workforce reductions and the consolidation of facilities.

Item 7, MD&A, 10-K Feb 6, 2026open_in_new

• the negative impact on our operations of union organizing campaigns, work stoppages or labor shortages;

Item 1A, Risk Factors, 10-K Feb 18, 2026open_in_new

As of December 31, 2025, approximately 22% of our workforce was covered by collective bargaining agreements. We have experienced interrupted service when our union-represented employees have engaged in strikes and work stoppages in the past, including in 2025, and …

Item 1A, Risk Factors, 10-K Feb 18, 2026open_in_new

Negotiations with labor unions and possible work actions could disrupt operations and increase labor costs and operating expenses.

Item 1A, Risk Factors, 10-K Nov 20, 2025open_in_new

With a workforce of approximately 43,000 people globally, we are also party to labor and employment claims in the normal course of business. Certain of these claims relate to allegations of harassment and discrimination, pay equity, denial of benefits …

Item 1A, Risk Factors, 10-K Nov 20, 2025open_in_new

… been fully ratified by most unions, representing nearly 75% of the Company's unionized workforce. The remaining unionized employees are covered under previous agreements while negotiations take place since collective agreements under the Railway Labor Act do not expire, but …

Item 7, MD&A, 10-K Feb 12, 2026open_in_new

Most of CSX's employees are represented by labor unions and are covered by collective bargaining agreements. These agreements are either bargained for nationally by the National Carriers Conference Committee or locally between CSX and the union. Such agreements are …

Item 1A, Risk Factors, 10-K Feb 12, 2026open_in_new

… not retaining key talent, inability to attract new employees with unique skills, trends in rising labor costs and labor availability, labor relations difficulties, or workforce stoppage could have a material adverse effect on our business, reputation, financial position, and results …

Item 1A, Risk Factors, 10-K Feb 17, 2026open_in_new

• Higher direct and indirect material costs and higher labor costs of approximately $0.7 billion or 3%, and

Item 7, MD&A, 10-K Feb 17, 2026open_in_new

In addition, reclassification of Drivers as employees, workers or quasi-employees where those statuses exist, have and could lead to groups of Drivers becoming represented by labor unions and similar organizations. For example, in May 2021, we formally recognized a …

Item 1A, Risk Factors, 10-K Feb 13, 2026open_in_new

• difficulties in managing, growing, and staffing international operations, including in countries in which foreign employees may become part of labor unions, employee representative bodies, or collective bargaining agreements, and challenges relating to work stoppages or slowdowns;

Item 1A, Risk Factors, 10-K Feb 13, 2026open_in_new

Our failure to successfully renegotiate labor agreements as they expire has, from time to time led, and could in the future lead, to work stoppages or other disputes with labor unions. Any strike, work stoppage, or other dispute with a labor union distracts management from operating the business, may displace employees from ordinary job positions to fill in vacant positions, may affect our reputation, and could adversely affect our business, results of operations, and financial condition.

Item 1A, Risk Factors, 10-K Dec 18, 2025open_in_new

Many of our production and maintenance employees are represented by labor unions under various collective bargaining agreements with different expiration dates. There is no certainty that we will successfully negotiate new agreements with these unions that extend beyond the current expiration dates, or that these new agreements will be on terms that will allow us to be competitive.

Item 1A, Risk Factors, 10-K Dec 18, 2025open_in_new

… ready workforce that is larger than necessary under our existing contract portfolio. When a contract is canceled or delayed, or an anticipated contract award is not received, it may result in lower profitability as a result of labor under-utilization …

Item 1A, Risk Factors, 10-K Feb 26, 2026open_in_new

Surety bonds are sometimes provided to secure obligations for wages and benefits payable to or for certain of our employees, at the request of labor unions representing such employees. In addition, surety bonds or letters of credit may be issued …

Item 7, MD&A, 10-K Feb 26, 2026open_in_new

… Although we believe that our relations with the labor unions and works councils that represent our employees are generally good and we have experienced no material work stoppages recently, we may experience these and other types of conflicts with labor …

Item 1A, Risk Factors, 10-K Feb 24, 2026open_in_new

Our business may be adversely affected by matters associated with our labor force.

Item 1A, Risk Factors, 10-K Feb 24, 2026open_in_new

Our business could suffer if we experience employee work stoppages, union and work council campaigns or other labor difficulties.

Item 1A, Risk Factors, 10-K Feb 17, 2026open_in_new

… Of those employees located outside of the United States, a significant portion are represented by works councils and labor unions, and of those employees located in the United States, approximately 370 are represented by labor unions. Although we believe that …

Item 1A, Risk Factors, 10-K Feb 17, 2026open_in_new

Union disputes, employee strikes or slowdowns and other labor-related disruptions as well as increased employee and retiree health, pension, labor and regulatory compliance costs could adversely affect the Company's business, operations and results of operations.

Item 1A, Risk Factors, 10-K Feb 12, 2026open_in_new

United is a highly unionized company. As of December 31, 2025, the Company and its subsidiaries had approximately 113,200 employees, of whom approximately 83% were represented by various U.S. labor organizations. See Part I, Item 1. Business - Human …

Item 1A, Risk Factors, 10-K Feb 12, 2026open_in_new

We collectively bargain with labor unions at some of our operations throughout the world. Failure to reach an agreement could result in strikes or other labor protests which could disrupt our operations. Furthermore, non-union employees in certain countries have the right to strike. If we were to experience a strike or work stoppage, it could be difficult for us to find a

Item 1A, Risk Factors, 10-K Feb 13, 2026open_in_new

sufficient number of employees with the necessary skills to replace these employees. We cannot assure that we will reach any such agreement or that we will not encounter strikes or other types of conflicts with the labor unions of our personnel.

Item 1A, Risk Factors, 10-K Feb 13, 2026open_in_new

Our business may be adversely affected by work stoppages, union negotiations, labor disputes and other matters associated with our labor force.

Item 1A, Risk Factors, 10-K Nov 14, 2025open_in_new

… Although we believe that our relations with the labor unions and works councils that represent our employees are generally good and we have experienced no material strikes or work stoppages recently, no assurances can be made that we will not …

Item 1A, Risk Factors, 10-K Nov 14, 2025open_in_new

Over the past several years, the global economic environment has experienced challenges, including inflationary pressures; widespread delays and disruptions in supply chains; business slowdowns or shutdowns; workforce challenges and labor shortfalls; and market volatility. These macroeconomic factors can and have …

Item 7, MD&A, 10-K Jan 27, 2026open_in_new

… high rates of inflation, increased interest rates, tight credit conditions in financial markets, widespread disruptions in supply chains, workforce challenges, including labor shortages, changes in trade policies, such as tariffs, and market volatility, including exchange rate volatility, all of which …

Item 1A, Risk Factors, 10-K Jan 27, 2026open_in_new

… The governments of other jurisdictions in which we operate, such as the European Union and Canada, may also implement sanctions or other restrictive measures. These potential sanctions and export controls, as well as any responses from Russia, could adversely affect …

Item 1A, Risk Factors, 10-K Feb 17, 2026open_in_new

… Examples include failure to comply with legislation on labor pricing and costs in government contracts, violating environmental, health, or safety laws, engaging in bribery of foreign government officials, breaching import-export controls, and participating in improper lobbying or similar activities.

Item 1A, Risk Factors, 10-K Feb 17, 2026open_in_new

• impacts from significant shifts in U.S. immigration policy, such as a tightened labor market and inflation;

Item 1A, Risk Factors, 10-K Feb 25, 2026open_in_new

• uncertainty, volatility and impacts from the evolving global geopolitical environment involving the U.S. and other countries’ governments, including the relationships among the U.S., European Union (“EU”), Middle East, Latin America, Russia, India, China, Taiwan, or other foreign countries, and the international community at large;

Item 1A, Risk Factors, 10-K Feb 25, 2026open_in_new

Our success depends in part on our ability to develop new products and technologies and maintain a qualified workforce to meet the needs of our customers. Many of the products and services we provide involve sophisticated technologies and engineering, with …

Item 1A, Risk Factors, 10-K Jan 30, 2026open_in_new

… Contract costs include labor, material, overhead and, when appropriate, G&A expenses.

Item 7, MD&A, 10-K Jan 30, 2026open_in_new

• Difficulties of managing a geographically dispersed organization and culturally diverse workforces, including compliance with local laws and practices;

Item 1A, Risk Factors, 10-K Feb 12, 2026open_in_new

In recent years, global supply chains, including ours, have experienced significant disruption from material availability and supplier performance, as well as extended lead times, pricing volatility, inflationary pressures and labor issues. We and our subcontractors and suppliers have also experienced …

Item 1A, Risk Factors, 10-K Feb 12, 2026open_in_new

Additionally, approximately 19% of our workforce is comprised of employees that are covered by collective bargaining agreements with various unions. If we encounter difficulties with renegotiations or renewals of collective bargaining arrangements or are unsuccessful in those efforts, we could …

Item 1A, Risk Factors, 10-K Jan 29, 2026open_in_new

Our business and financial performance are impacted by general economic conditions including inflationary pressures, delays and disruptions in supply chains, business slowdowns or shutdowns, workforce challenges and labor shortfalls, impacts from technological change, and market volatility. These macroeconomic factors have …

Item 7, MD&A, 10-K Jan 29, 2026open_in_new

… In addition, we can offer no assurance that the Department of Labor will not adopt new regulations or interpret existing regulations in a manner that would favor the agenda of unions, or that our employees will not unionize in the …

Item 1A, Risk Factors, 10-K Feb 24, 2026open_in_new

If our employees were to unionize, our operating costs would increase and our ability to compete would be impaired.

Item 1A, Risk Factors, 10-K Feb 24, 2026open_in_new

The Organic volume decrease of (1)% in total cost of products and services sold in 2025 was primarily driven by the organic sales changes noted above. Productivity was partially offset by the impact of tariffs and inflationary pressures, including higher labor costs.

Item 7, MD&A, 10-K Feb 5, 2026open_in_new

Service operating profit increased $189 million including foreign exchange tailwinds of $36 million. Higher volume, improved pricing, productivity and gains on sales of assets of $19 million, were partially offset by inflationary pressures including higher labor costs, and mix. Operating margin increased 50 basis points.

Item 7, MD&A, 10-K Feb 5, 2026open_in_new

… component sources or closing facilities, workforce reductions and centralization of certain business support functions, the savings of which may be, and have been, mitigated by many factors, including economic weakness, inflation, competitive pressures, higher labor costs, production volume decline and …

Item 1A, Risk Factors, 10-K Feb 24, 2026open_in_new

• increased costs and risks of doing business and managing a workforce in a wide variety of jurisdictions;

Item 1A, Risk Factors, 10-K Feb 24, 2026open_in_new

The market for highly skilled workers and leaders in our industries, particularly in the areas of science and technology, is extremely competitive and expectations from qualified talent in many areas of the labor market have evolved and escalated recently. In …

Item 1A, Risk Factors, 10-K Feb 20, 2026open_in_new

• Incremental labor and materials costs and sales and marketing growth initiatives, partially offset by higher 2025 core sales - 50 basis points

Item 7, MD&A, 10-K Feb 20, 2026open_in_new

• Labor disruptions, work stoppages or other employee-related issues, particularly if employees of the acquired companies are represented by labor unions or trade councils; and

Item 1A, Risk Factors, 10-K Feb 17, 2026open_in_new

… employees, labor shortages, increased labor costs, candidates’ preference to work remotely, changes in laws and policies regarding immigration and work authorizations or any government or public health mandates in jurisdictions where we have operations that may result in workforce attrition …

Item 1A, Risk Factors, 10-K Feb 17, 2026open_in_new

Our business is labor intensive, utilizing large numbers of pilots, flight attendants, aircraft maintenance technicians, ground support personnel and other personnel. As of December 31, 2025, approximately 20% of our workforce, primarily pilots, was unionized. Relations between air carriers and …

Item 1A, Risk Factors, 10-K Feb 11, 2026open_in_new

… of our workforce become unionized, we may be subject to work interruptions or stoppages, subject to the requirements of the Railway Labor Act or the NLRA, as the case may be. Strikes or labor disputes with our unionized employees may …

Item 1A, Risk Factors, 10-K Feb 11, 2026open_in_new

Operating expenses. Personnel expenses decreased primarily due to cost optimization efforts and productivity improvements and lower incentive compensation, partially offset by higher restructuring charges in the current year related to workforce reductions. Other SG&A expenses decreased with reductions across several expense categories; most notably lower claims expense.

Item 7, MD&A, 10-K Feb 13, 2026open_in_new

… In addition, macroeconomic factors impacting the labor market may result in higher costs to hire and retain qualified personnel. Because of our comprehensive employee training program, our employees are attractive targets for new and existing competitors. Our continued success depends …

Item 1A, Risk Factors, 10-K Feb 13, 2026open_in_new

In addition, the nature of our business requires us to maintain a labor force that is sufficiently large enough to support our manufacturing operations to meet customer demand, as well as provide on-site services and project support for our customers. We have in the past experienced, and could in the future experience, shortages for skilled or unskilled labor, which has in the past and could in the future negatively impact our growth and results of operations.

Item 1A, Risk Factors, 10-K Feb 26, 2026open_in_new

Significant inflation or shortages of raw materials, energy, components, and/or labor, or similar challenges for our customers, could continue to adversely impact our results of operations.

Item 1A, Risk Factors, 10-K Feb 26, 2026open_in_new

• labor market conditions, including availability and cost of drivers and other personnel, workforce relations, and potential unionization or labor disruptions;

Item 1A, Risk Factors, 10-K Aug 5, 2026open_in_new

… facilitate union representation, or otherwise increase labor-related costs and operational risks. In addition, the National Labor Relations Board could take actions that make it easier for our employees, as well as vendors, service providers, and supplier workforces, to organize …

Item 1A, Risk Factors, 10-K Aug 5, 2026open_in_new

… tax jurisdictions have either enacted legislation to adopt certain components of the Pillar Two Model Rules beginning in 2024 or 2025 (including the European Union Member States) or announced their plans to enact legislation in future years. We are continuing …

Item 7, MD&A, 10-K Feb 9, 2026open_in_new

… The increase was partially offset by ongoing improvements in manufacturing efficiency and automation that reduced material, labor, and overhead costs.

Item 7, MD&A, 10-K Feb 9, 2026open_in_new

… Our run-off insurance operations include Employers Reassurance Corporation (ERAC) and Union Fidelity Life Insurance Company (UFLIC). ERAC primarily assumed long-term care insurance and life insurance from numerous cedents under various types of reinsurance treaties and stopped accepting new …

Item 7, MD&A, 10-K Jan 29, 2026open_in_new

To develop our cost estimates, we consider the timing and extent of future maintenance and overhaul events, including the frequency of maintenance events and cost of labor, spare parts and other resources required to perform the maintenance. In developing our …

Item 7, MD&A, 10-K Jan 29, 2026open_in_new

… In addition, the workforces of many of our suppliers and customers are represented by labor unions. Work stoppages or strikes at the plants of our key suppliers could disrupt our manufacturing processes; similar actions at the plants of our customers …

Item 1A, Risk Factors, 10-K Feb 11, 2026open_in_new

Our success is highly dependent upon our ability to hire, train and retain a workforce with the skills necessary for our businesses to develop and manufacture the products desired by our customers. We need highly skilled personnel in multiple areas …

Item 1A, Risk Factors, 10-K Feb 11, 2026open_in_new

… state labor and employment laws, and state data breach notification and data privacy laws, such as the California Consumer Privacy Act, and biometric information privacy laws all as amended. Our European operations are subject to the European Union’s General …

Item 1A, Risk Factors, 10-K Jul 17, 2026open_in_new

… Our unique blend of innovative technology and extensive HR expertise enables customers to more effectively hire, develop, and retain top talent in this tight labor market. Ongoing investments in our platforms have equipped us well to meet the current business …

Item 7, MD&A, 10-K Jul 17, 2026open_in_new

• Contingent workers - In some locations, we rely on third-party suppliers for the provision of contingent workers, and our failure to manage such workers effectively could adversely impact our results of operations. We may also be subject to labor shortages, oversupply, or fixed contractual terms relating to the contingent workforce, and our ability to manage the size of, and costs for, such contingent workforce may be further constrained by local laws or future changes to such laws.

Item 1A, Risk Factors, 10-K Feb 13, 2026open_in_new

• changes in costs or shortages of components, materials, labor or construction equipment;

Item 1A, Risk Factors, 10-K Feb 13, 2026open_in_new

… conflicts with labor unions or our employees. Any of these consequences may have an adverse effect on us or may limit our flexibility in dealing with our workforce. In addition, many of our customers and suppliers have unionized work forces …

Item 1A, Risk Factors, 10-K Feb 10, 2026open_in_new

• difficulty in staffing and managing widespread operations and the application of foreign labor regulations;

Item 1A, Risk Factors, 10-K Feb 10, 2026open_in_new

… In addition, as of December 31, 2025, approximately 26% of our core workforce locations were unionized. Our Marshalltown, Iowa-based union ratified a five-year labor agreement on November 1, 2021; however, the results of future negotiations with unions are …

Item 1A, Risk Factors, 10-K Feb 17, 2026open_in_new

Our Operations Can Be Adversely Affected By Our Ability to Attract, Motivate, Develop, and Retain Our Employees, Labor Shortages and Work Stoppages, Turnover, Labor Cost Increases and Other Labor Relations Problems.

Item 1A, Risk Factors, 10-K Feb 17, 2026open_in_new

More generally, our future success also depends on our ability to attract and retain a talented workforce. The labor market is highly competitive, and our business could be adversely affected if we are unable to attract and retain talented personnel …

Item 1A, Risk Factors, 10-K Sep 29, 2026open_in_new

… For example, the General Data Protection Regulation (“GDPR”), which went into effect in the European Union on May 25, 2018, applies to all of our activities conducted from an establishment in the European Union and may also apply to related …

Item 1A, Risk Factors, 10-K Sep 29, 2026open_in_new

A significant portion of Howmet’s employees are represented by labor unions in the United States and other countries under various collective bargaining agreements, each with varying durations and expiration dates. For more information, see “Employees” in Part I, Item …

Item 1A, Risk Factors, 10-K Feb 12, 2026open_in_new

… skilled labor, increased turnover, labor inflation, or increase in general labor costs could lead to higher labor, recruiting, or training costs to attract and retain personnel. If the Company fails to attract, train, develop, and retain a global workforce with …

Item 1A, Risk Factors, 10-K Feb 12, 2026open_in_new

The Company’s success depends in part on the ability of its businesses to proactively attract, motivate and retain a qualified and highly skilled workforce in an intensely competitive labor market. A failure to attract, motivate and retain highly skilled …

Item 1A, Risk Factors, 10-K Feb 19, 2026open_in_new

Challenges with Respect to Labor Availability Could Negatively Impact the Company’s Ability to Operate or Grow the Business.

Item 1A, Risk Factors, 10-K Feb 19, 2026open_in_new

Our foreign operations are also subject to other risks and challenges, such as the need to staff and manage diverse workforces, respond to the needs of multiple national and international marketplaces, and differing business climates and cultures in various countries.

Item 1A, Risk Factors, 10-K Feb 12, 2026open_in_new

… These include political, economic and social instability, such as acts of war, armed conflicts, civil disturbance or acts of terrorism, local labor conditions, and adverse changes in trade relations with China, Canada, the European Union and other nations. These also …

Item 1A, Risk Factors, 10-K Feb 12, 2026open_in_new

… labor needed for the design and production of our products and delivery of services is limited in a number of the locations in which we operate, and the competition for talent is robust. Difficulties attracting and retaining a qualified workforce …

Item 1A, Risk Factors, 10-K Feb 5, 2026open_in_new

A significant portion of our employees are represented by labor unions or works councils in a number of countries under various collective bargaining agreements with varying durations and expiration dates. See the section entitled "Other Matters Relating to Our Business …

Item 1A, Risk Factors, 10-K Feb 5, 2026open_in_new

Union disputes or other labor matters could adversely affect our operations and financial results.

Item 1A, Risk Factors, 10-K Feb 13, 2026open_in_new

Some of our employees are represented by labor unions in a number of countries under various collective bargaining agreements with varying durations and expiration dates. There can be no assurance that any current or future issues with our employees will …

Item 1A, Risk Factors, 10-K Feb 13, 2026open_in_new

We have various non-U.S. collective labor arrangements. We are subject to potential work stoppages, works council campaigns, and other labor disputes, any of which could adversely impact our productivity, results of operations, and reputation.

Item 1A, Risk Factors, 10-K Feb 25, 2026open_in_new

• Work stoppages, works council campaigns, and other labor disputes could adversely impact our productivity and results of operations.

Item 1A, Risk Factors, 10-K Feb 25, 2026open_in_new

We may from time-to-time experience union organizing activities in our non-union facilities. Disputes with the current labor union or new union organizing activities could lead to work slowdowns or stoppages and make it difficult or impossible for …

Item 1A, Risk Factors, 10-K Feb 18, 2026open_in_new

Disruptions caused by labor disputes or organized labor activities could harm our business.

Item 1A, Risk Factors, 10-K Feb 18, 2026open_in_new

… may adversely affect Grainger's labor costs. Competition for qualified team members could require Grainger to pay higher wages to attract a sufficient number of team members. In addition to intense competition for talent, workforce dynamics are constantly evolving. If …

Item 1A, Risk Factors, 10-K Feb 19, 2026open_in_new

… Commerce Department’s Export Administration Regulations, trade sanctions promulgated by the Office of Foreign Asset Control and anti-money laundering regulations), intellectual property laws, labor laws (including federal and state wage and hour laws), product compliance or safety laws, supplier …

Item 1A, Risk Factors, 10-K Feb 19, 2026open_in_new

Our business may be adversely affected by temporary work stoppages, union negotiations, labor disputes and other matters associated with our labor force.

Item 1A, Risk Factors, 10-K Feb 5, 2026open_in_new

… We experience from time-to-time temporary work stoppages, union negotiations, labor disputes and other matters associated with our labor force and some of these events could result in significant increases in our cost of labor, impact our productivity or …

Item 1A, Risk Factors, 10-K Feb 5, 2026open_in_new

Our collective bargaining agreements and our relationship with our union-represented employees could disrupt our ability to serve our customers, lead to higher labor costs or the payment of withdrawal liability.

Item 1A, Risk Factors, 10-K Jan 28, 2026open_in_new

We currently have approximately 1,800 employees who are represented by unions and covered by collective bargaining agreements and approximately 26,700 employees who are not represented by unions. Various unions occasionally seek to organize certain of our nonunion employees. Union organizing efforts or collective bargaining negotiations could potentially

Item 1A, Risk Factors, 10-K Jan 28, 2026open_in_new

• Selling, general and administrative expenses - The increase of $127.2 million was primarily driven by higher labor and compensation-related expenses in addition to higher investment expenses.

Item 7, MD&A, 10-K Aug 4, 2026open_in_new

• Cost of revenues - The increase of $348.4 million primarily reflects higher expenses, including postage and distribution costs in our ICS segment of approximately $176.7 million, higher labor and technology expenses and higher expenses related to acquisitions.

Item 7, MD&A, 10-K Aug 4, 2026open_in_new

We believe we have positive labor relationships with our employee-partners. However, factors such as difficulty to attract key employees, reduced employee engagement, third-party organizational efforts, scrutiny from advocacy groups and increased employee-partner turnover could adversely affect our …

Item 1A, Risk Factors, 10-K Jul 29, 2026open_in_new

Increases in labor costs, including the cost to provide employee-partner related healthcare benefits, minimum wages, labor shortages or shortages of skilled labor, regulations regarding the classification of employees and/or their eligibility for overtime wages, higher material costs for …

Item 1A, Risk Factors, 10-K Jul 29, 2026open_in_new

* The Company’s future results are subject to vulnerability with respect to materials and fluctuations in the costs and availability of purchased components, compounds, raw materials, energy, and labor due to shortages, increased demand and wages, strikes or other labor disruptions, logistics, supply chain interruptions, manufacturing site disruptions, regulatory developments, natural disasters, and other disruptive factors.

Item 1A, Risk Factors, 10-K Feb 3, 2026open_in_new

… time, to streamline its operations, improve operational efficiency, productivity, and the speed and efficiency with which it serves customers. Workforce restructuring activities are expected to deliver benefits, but also impact business groups, functions, and geographies. There can be no assurance …

Item 1A, Risk Factors, 10-K Feb 3, 2026open_in_new

• Factory overhead and other indirect costs decreased $188.6 million, primarily due to lower labor costs, maintenance costs and factory supplies from lower truck build rates.

Item 7, MD&A, 10-K Feb 18, 2026open_in_new

… Commodity or component price increases, cost pressures due to inflation, significant shortages of component products and labor availability may adversely impact the Company’s financial results or use of its production capacity. Many of the Company’s suppliers also supply …

Item 1A, Risk Factors, 10-K Feb 18, 2026open_in_new

• differing labor laws and customs, existence of workers’ councils and labor unions, and other challenges caused by distance, language, and cultural differences

Item 1A, Risk Factors, 10-K Feb 25, 2026open_in_new

• unionization, labor organization efforts, or grievances leading to work stoppages, strikes, or operational disruptions;

Item 1A, Risk Factors, 10-K Feb 25, 2026open_in_new

• the impact on customer demand or availability of goods and services based on labor shortages or work stoppages;

Item 1A, Risk Factors, 10-K Feb 5, 2026open_in_new

… Union, the General Data Protection Regulation 2016, with interpretations varying from state to state and country to country) and cybersecurity requirements (including protection of information and incident responses), regulations on suppliers regarding the sources of supplies or products, labor and …

Item 1A, Risk Factors, 10-K Feb 5, 2026open_in_new

Because our products are complicated and highly engineered, we depend on an educated and trained workforce. Historically, there has been substantial competition for skilled personnel in the aerospace and defense industry, and we could be adversely affected by a shortage …

Item 1A, Risk Factors, 10-K Nov 10, 2026open_in_new

… In the past, these sales have been affected by airline profitability, which is impacted by, among other things, fuel and labor costs, price competition, interest rates, downturns in the global economy and national and international events. In addition, sales of …

Item 1A, Risk Factors, 10-K Nov 10, 2026open_in_new

… We may also on occasion be subject to labor union organization efforts which may impact cost and operational flexibility. Substantial increases in our operating costs to maintain our workforce may have an adverse effect on our business, financial condition and …

Item 1A, Risk Factors, 10-K Sep 26, 2025open_in_new

… financial instability among key suppliers; global or regional political unrest, disputes or war, or labor unrest, in source countries or elsewhere in our supply chain; changes in the total costs in our supply chain (including, but not limited to, changes …

Item 1A, Risk Factors, 10-K Sep 26, 2025open_in_new

As of December 31, 2025, the Company had 21,946 employees. Approximately 19,700 of our employees were located in the United States, with approximately 17,560 employees at U.S. branch offices. Of the U.S. employees, less than 2% are represented by a labor union or covered by a collective bargaining agreement.

Item 1A, Risk Factors, 10-K Feb 12, 2026open_in_new

• P.E.A.C.E.: Promoting Equality, Acceptance and Cultural Empowerment through networking, team building, and allyship to foster an inclusive and respectful environment that celebrates the diverse cultures represented within the workforce.

Item 1A, Risk Factors, 10-K Feb 12, 2026open_in_new

… non-union employees. Eligible employees receive a base contribution to a cash balance account administered within the principal U.S. defined benefit plan, funded by surplus pension assets, as well as a potential profit sharing contribution to their defined contribution …

Item 7, MD&A, 10-K Nov 9, 2026open_in_new

… Moreover, during economic downturns we may undertake more extensive restructuring actions, including workforce reductions, global facility consolidations, centralization of certain business support activities, and other cost reduction initiatives, and incur higher costs. As these plans and actions can be complex …

Item 1A, Risk Factors, 10-K Nov 9, 2026open_in_new

… Our restructuring and related efforts include the consolidation of manufacturing and distribution facilities, and workforce actions, as well as streamlining and consolidating our back-office functions. The primary objectives of our restructuring and related activities are to optimize our manufacturing …

Item 7, MD&A, 10-K Feb 12, 2026open_in_new

… For example, the European Union’s General Data Protection Regulation, the European Union’s pending ePrivacy Regulation and the implementation of the ePrivacy Directive by the various European Union member states, and California’s Consumer Privacy Act of 2018 and …

Item 1A, Risk Factors, 10-K Feb 12, 2026open_in_new

… In addition, a portion of the freight we deliver is imported to the United States through ports of call that are subject to labor union contracts. Work stoppages or other disruptions at any of these ports could have a material …

Item 1A, Risk Factors, 10-K Feb 24, 2026open_in_new

We by the nature of our operations are exposed to the potential for a variety of litigation, including personal injury claims, vehicular collisions and accidents, alleged violations of federal and state labor and employment laws, such as class-action lawsuits …

Item 1A, Risk Factors, 10-K Feb 24, 2026open_in_new

… We provide many types of data and services that already are subject to regulation under the Fair Credit Reporting Act, Gramm-Leach-Bliley Act, Driver’s Privacy Protection Act, the European Union’s General Data Protection Regulation, the Dodd Frank …

Item 1A, Risk Factors, 10-K Feb 18, 2026open_in_new

Very few of our employees are represented by unions or subject to collective bargaining agreements, and a small number of employees in Germany are represented by a works council. We consider our relationship with our employees to be good and have not experienced interruptions of operations due to labor disagreements.

10-K, 10-K Feb 18, 2026open_in_new

We have a number of collective bargaining units in the U.S. and various collective labor arrangements outside the U.S. We are subject to potential work stoppages, union and works council campaigns and other labor disputes, any of which could adversely impact our productivity, reputation, results of operations, financial condition and cash flows.

Item 1A, Risk Factors, 10-K Feb 13, 2026open_in_new

• Increases in labor costs, potential labor disputes and work stoppages or an inability to hire skilled personnel could adversely affect our business.

Item 1A, Risk Factors, 10-K Feb 13, 2026open_in_new

… Such government restrictions may contribute to shortages of both labor and capacity and increase costs that impact our operations. Any significant global health emergency on the scale of the COVID- 19 pandemic could negatively affect our business and our financial …

Item 1A, Risk Factors, 10-K Feb 25, 2026open_in_new

… As a result, our business continues to experience rising labor costs, service provider rate increases, higher rent and occupancy and other expenses. Due to the high degree of competition in the marketplace we may not be able to increase our …

Item 7, MD&A, 10-K Feb 25, 2026open_in_new

We may face particular data protection and privacy risks in connection with the European Union's Global Data Protection Regulation, the California Consumer Privacy Act and other privacy laws and regulations.

Item 1A, Risk Factors, 10-K Dec 17, 2025open_in_new

… Failure to retain our leadership team and workforce and to attract and retain other important management and technical personnel could constrain on our global growth and operational initiatives, possibly resulting in inefficient and ineffective management and operations, which would likely …

Item 1A, Risk Factors, 10-K Dec 17, 2025open_in_new

• achieve faster secular growth in traditional markets due to customer needs for resiliency (including cybersecurity), agility, sustainability, and mitigating impacts of labor shortages;

Item 7, MD&A, 10-K Nov 12, 2025open_in_new

We are increasingly required to comply with various environmental and other material, product, certification, and labeling laws and regulations (including the emerging European Union Eco-design for Sustainable Products Regulation). Our customers may also be required to comply with such …

Item 1A, Risk Factors, 10-K Nov 12, 2025open_in_new

… Slower economic growth, financial market instability, supply chain disruptions, natural disasters, public health crises (such as the COVID-19 pandemic), labor market challenges, rapid inflation, armed conflicts (such as the Russia and Ukraine conflict), government deficit reduction, sequestration and other …

Item 1A, Risk Factors, 10-K Feb 13, 2026open_in_new

… Prices for raw materials have fluctuated significantly in the past and the Company has experienced upward pricing pressure on specialty materials such as high labor-content fabrications. Significant price increases could adversely affect the Company's results of operations and …

Item 1A, Risk Factors, 10-K Feb 13, 2026open_in_new

The long-term performance of our businesses relies on our ability to attract, develop and retain a talented and workforce.

Item 1A, Risk Factors, 10-K Feb 10, 2026open_in_new

… We have faced and may in the future face challenges in recruiting, developing, engaging and retaining employees, particularly when the labor market is experiencing low unemployment levels, increasing compensation and increasing competition.

Item 1A, Risk Factors, 10-K Feb 10, 2026open_in_new

cost pressures for labor. These challenges in labor markets could have material adverse effects on our results of operations, financial condition and cash flows.

Item 1A, Risk Factors, 10-K Aug 21, 2026open_in_new

• legal and regulatory developments and other government actions, including related to environmental protection, and associated compliance costs; supply chain and labor disruptions, including as a result of tariffs and labor shortages;

Item 7, MD&A, 10-K Aug 21, 2026open_in_new

… political, religious, and economic instability; local labor market conditions; new or increased tariffs or other trade restrictions, or changes to trade agreements; the impact of foreign government regulations, actions or policies; the effects of income taxes; governmental expropriation; the changes …

Item 1A, Risk Factors, 10-K Feb 10, 2026open_in_new

We employed approximately 11,500 employees as of December 31, 2025 with approximately 6,500 in North America and 5,000 in Rest of World. A small portion of our workforce in the U.S. is represented by a labor union, while outside the U.S., we have employees in certain countries that are represented by employee representative organizations, such as an employee association, union, or works council.

10-K, 10-K Feb 10, 2026open_in_new

… On certain contracts, labor hours are used as the measure of progress when it is determined to be a better depiction of the transfer of control to the customer due to the timing and pattern of labor hours incurred.

Item 8, Financial Statements, 10-K Feb 17, 2026open_in_new

workforce. Selected employees participate in short and long-term incentive programs that align employee and shareholder interests and promote long-term retention. Additionally, we strive to protect health and safety in every aspect of our enterprise - from the way we …

10-K, 10-K Feb 17, 2026open_in_new

Supply chain and operational disruptions, plant and/or power outages, labor shortages and/or strikes, geo-political activity, weather events and natural disasters, manmade disasters, perceived or actual global health risks or pandemics, governmental, legislative or regulatory actions, or other …

Item 1A, Risk Factors, 10-K Feb 17, 2026open_in_new

… Elements of cost in inventories include raw materials, direct labor and manufacturing overhead. The Company's inventories are generally accounted for under the average cost method. Stores and supplies are valued at cost or net realizable value, whichever is lower …

10-K, 10-K Feb 17, 2026open_in_new

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