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| related topics |
| {debt, indebtedness, cash} |
| {cost, contract, operation} |
| {tax, income, asset} |
| {condition, economic, financial} |
| {competitive, industry, competition} |
| {operation, international, foreign} |
| {financial, litigation, operation} |
| {cost, operation, labor} |
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Despite current indebtedness levels, we and our subsidiaries may still be able to incur substantially more debt. This could further exacerbate the risks associated with our substantial leverage.
Restrictions and covenants in debt agreements limit our ability to take certain actions.
Failure to comply with the terms of one of our debt instruments could result in an event of default that would result in the acceleration of that instrument as well as all or most of our other indebtedness.
Our principal U.S. defined benefit pension plan is underfunded, which will require us to make cash contributions to the plan for the next several years, which, in turn, will reduce the cash available for our business, and adverse capital market or interest rate conditions may increase our net pension liability.
Ownership changes for U.S. federal income tax purposes will cause utilization of our pre-change tax loss carryforwards and other tax attributes to be substantially delayed, which could increase income tax expense and decrease available cash in future years.
Risks Relating to Our Business
Many of our customers are in cyclical industries that have historically experienced significant downturns, which resulted in substantially reduced demand for our products.
We operate in highly competitive industries, many of which are currently subject to intense price competition, and if we are unable to compete successfully our results of operations could fail to improve or could deteriorate.
Further increases in our cost structure could have an adverse effect on our operating results and cash flows.
Our significant international operations depend to a great extent on the economy of the European and Asian markets and subject us to risks such as unfavorable political, regulatory, labor and tax conditions.
We are subject to litigation that could have an adverse effect upon our business, financial condition, results of operations or reputation.
Full 10-K form ▸
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