S&P 500 risk factor changes: new Item 1A headings in the latest 10-Ks

1. The loss of key personnel or their services, or any misconduct by key personnel, could have a material adverse effect on KKR.
2. Our reliance on third parties in the operation of our business exposes us to operational, reputational and other risks.
3. Disruptions in our technology infrastructure or the occurrence of other operational errors could materially and adversely affect our business.
4. The failure to effectively manage our balance sheet could materially and adversely affect our financial condition and results of operations.
5. The failure to manage, or the inability to access, adequate sources of liquidity could materially and adversely affect KKR.

FY2025 vs FY2024 in full (45 more there) · All current headings

1. 2025 Form 10-K | 40
2. 2025 Form 10-K | 41
3. Our infrastructure and its supporting systems subject us to risks.
4. equipment or process failures due to aging infrastructure or otherwise human error loss or outage of a key technology platform or system shortages of or delays in obtaining equipment, materials, supplies, commodities or labor, which have been and may continue to be exacerbated by supply chain and gas transportation capacity constraints, tight labor markets, and cost increases due to inflation, tariffs or otherwise, that may not be recoverable in a timely manner or at all operational restrictions resulting from governmental interventions, including environmental requirements, or permitting delays inability to enter into, maintain, extend or replace long-term supply or transportation contracts performance below expected levelsTariffs
5. 2025 Form 10-K | 43

FY2025 vs FY2024 in full (40 more there) · All current headings

1. •Our financial results, the value of loans and debt securities we hold, and lending and other business activities have in the past, and may in the future, be adversely affected by weak or deteriorating economic conditions.
2. •Changes in interest rates have affected our net interest income and other financial results in the past and could in the future adversely affect us.Interest rates
3. •Truist faces substantial risks in safeguarding personal and other sensitive information, which may negatively impact the Company’s business, financial condition, results of operations, prospects, or reputation.
4. •The use of AI in our products and services, as well as our business and the industry more broadly, may negatively impact our business, operations, financial condition, results of operations, prospects, and reputation.AI
5. •The Company’s risk and control framework may fail to identify, assess, monitor, and mitigate the risks we face and cause us to suffer unexpected losses that could adversely affect our business, financial condition, results of operations, prospects, and reputation.

FY2025 vs FY2024 in full (24 more there) · All current headings

1. References within this *Annual Report *to “Deckers,” “we,” “our,” “us,” “management,” or the “Company” refer to
2. Deckers Outdoor Corporation, together with its consolidated subsidiaries. *HOKA® (HOKA), *UGG® (UGG), Teva®
3. (Teva), *Koolaburra by UGG® (Koolaburra), AHNU® (AHNU), *UGGpure® (UGGpure) and *UGGplushTM *(UGGplush) are some of our trademarks. Other trademarks or trade names appearing elsewhere within this *Annual Report *are the property of their respective owners. The trademarks and trade names within this *Annual Report *are referred to without the ® and ™ symbols, but such references should not be construed as any indication that their respective owners will not assert their rights to the fullest extent under applicable law.
4. Unless otherwise indicated, all figures herein are expressed in thousands, *except share and per share data.
5. References *to “domestic” refer to our business and operations in *the *US. *The periods covered by the *fiscal years ended March 31, 2026, *2025, and *2024 *are stated herein as “year ended” or “years ended.” We also refer to these fiscal years as “fiscal year 2026,” “fiscal year 2025,” and “fiscal year 2024,” respectively. Fiscal year 2026 is also referred to as “the current period” and fiscal year 2025 is referred to as “the prior period”.

FY2026 vs FY2025 in full (23 more there) · All current headings

1. VISTRA CORP.
2. VISTRA CORP.
3. VISTRA CORP.
4. VISTRA CORP.
5. VISTRA CORP.

FY2025 vs FY2024 in full (22 more there) · All current headings

1. Customer order cancellations, production changes, and demand variability could adversely affect our business.
2. Investments in our Cloud and Power Infrastructure businesses may adversely affect our margins, and demand for these offerings is subject to factors outside our control.
3. We may incur significant losses if customer-specific capital equipment becomes impaired or obsolete.
4. A breach of our IT or physical security systems, or a cybersecurity incident affecting our operations, products, or third parties upon which we rely, could materially disrupt our business, damage our reputation, and expose us to significant costs and liability.Cybersecurity
5. Risks and uncertainties related to the development and use of AI could harm our business, damage our reputation, or give rise to legal or regulatory action.AI

FY2026 vs FY2025 in full (21 more there) · All current headings

1. JPMorganChase’s businesses are highly regulated and are significantly affected by applicable law and supervisory expectations.
2. Differences in the supervision and regulation of financial services firms could require JPMorganChase to modify its operations and incur higher operational and compliance costs.
3. JPMorganChase faces significant legal risks from civil and governmental proceedings, including litigation, investigations and enforcement actions.
4. Resolving an investigation by a governmental authority could subject JPMorganChase to significant penalties and other repercussions.
5. JPMorganChase’s compliance risk and operating costs could be higher in jurisdictions with less predictable legal, regulatory and judicial frameworks.

FY2025 vs FY2024 in full (17 more there) · All current headings

1. Additional Risks Related to Our Business
2. We may sustain losses that exceed or are excluded from our insurance coverage or for which we are self-insured. We also rely on a limited number of mutual insurance companies for a significant portion of our insurance coverage and any disruption in these markets or changes in the terms offered by these companies could materially increase our costs or limit our ability to obtain adequate insurance.
3. Settlement provisions contained in our forward sale agreements subject us to risks if certain events occur, which could have an effect on our results of operations and liquidity, and could cause the price of our common stock to decline.
4. In certain bankruptcy or insolvency events, the forward sale agreements will automatically terminate, and we would not receive the expected proceeds from the forward sales of our common stock.
5. Our shareholders may experience dilution as a result of the issuance of shares upon physical or net share settlement of the forward sale agreements, which may impact our earnings per share and the book value and fair value of our common stock.

FY2025 vs FY2024 in full (16 more there) · All current headings

1. We experience significant variation in our operating and financial results, including GMV and net revenues.
2. We face intense competition that may materially harm our business.
3. If our advertising products, including our Promoted Listings, are not competitive, we will lose advertising revenues and our business will be harmed.
4. Our business depends on consumer engagement and spending, which makes our results of operations particularly sensitive to shifts in, and events that impact, consumer confidence, platform engagement and buying trends.
5. We may not be able to keep pace with technological changes, including emerging AI technologies, and with changes in consumer demands and expectations.AI

FY2025 vs FY2024 in full (16 more there) · All current headings

1. Report on Form 10-K. If any of the following risks or uncertainties occur, our business, financial condition or results of operations would likely suffer, possibly materially. In that case, the trading price of our common stock could decline.
2. Our success depends on our ability to develop and commercialize additional medicines.
3. Our business is substantially dependent on the success of our CF medicines.
4. We may not be able to increase or maintain CASGEVY product revenues.
5. Risks Related to Commercialization revenues, and results of operations.

FY2025 vs FY2024 in full (16 more there) · All current headings

1. Our revenue, gross margin, and operating results can be adversely impacted by a number of factors that would cause our results to fluctuate.
2. Our revenue is concentrated among a small number of customers and reductions in their spending could materially adversely impact our results of operations.
3. Our growth is dependent on executing our strategy and expanding our addressable market, and we may not be successful.
4. We operate in an intense and evolving competitive landscape and the level of competitive pressure we face may adversely impact our results of operations.
5. Misaligned or delayed technology investments may adversely impact our return on innovation, impair our strategy and weaken our competitive position.

FY2025 vs FY2024 in full (13 more there) · All current headings

1. Global health conditions, changing population or demographic trends, severe weather events or natural disasters and general economic and political conditions, all of which are highly uncertain and difficult to predict, could have a material adverse impact on our business.
2. Global health conditions and changing population or demographic trends
3. Severe weather events or natural disasters
4. We are, and may in the future be, a party to various lawsuits, demands, claims, qui tam suits, governmental investigations and audits and other legal matters, which could have a material adverse effect on our business, results of operations, financial condition, cash flows and stock price and could materially harm our reputation.
5. If the number or percentage of patients with higher-paying commercial insurance declines, it could have a material adverse effect on our business, results of operations, financial condition and cash flows.

FY2025 vs FY2024 in full (13 more there) · All current headings

1. If the Proposed Transaction is consummated, the combined company may not perform as we or the market expects and may fail to realize the projected benefits and cost savings of the Proposed Transaction, which could adversely affect the value of K-C common stock, which our shareholders will own following the completion of the Proposed Transaction.
2. Failure to consummate the Proposed Transaction, or a delay in the consummation of the Proposed Transaction, could negatively impact our business, results of operations, financial condition, and stock price.
3. Uncertainties associated with the Proposed Transaction may cause a loss of our or K-C’s management and other key employees, which could adversely affect the future business and operations of the combined company following the Proposed Transaction.
4. Holders of our common stock will have a significantly reduced ownership and voting interest in the combined company after the Proposed Transaction and will therefore have less voting influence over the combined company.
5. Litigation against us or K-C, or the members of our or K-C’s board of directors, could prevent or delay the completion of the Proposed Transaction.

FY2025 vs FY2024 in full (13 more there) · All current headings

1. We are exposed to risks as a result of our strategic actions.
2. We may not achieve the anticipated benefits of our significant transactions, including the sale of our Kidney Care business and our acquisition of Hillrom.
3. Our significant indebtedness requires us to use a substantial amount of our cash flow for debt service and constrains our ability to pursue growth strategies and advance our R&D capabilities.
4. We may be unable to successfully introduce or monetize new and existing products or services or keep pace with changing consumer preferences and needs or advances in technology.
5. Continued consolidation in the health care industry or additional governmental controls exerted over pricing and access in key markets could lead to increased demands for price concessions or limit or eliminate our ability to sell to certain of our significant market segments.

FY2025 vs FY2024 in full (11 more there) · All current headings

1. Our financial results may be negatively impacted by unfavorable economic and geopolitical conditions.
2. We may not complete the proposed JDE Peet's Acquisition within the time frame we anticipate, or at all, which could adversely affect our business.
3. The market price of our common stock may decline as a result the JDE Peet's Acquisition.
4. We will incur significant direct and indirect costs as a result of the JDE Peet's Acquisition.
5. The JDE Peet's Acquisition will expose us to inherent risks in JDE Peet's' business and those geographies where JDE Peet's currently operates, which could adversely affect our business.

FY2025 vs FY2024 in full (11 more there) · All current headings

1. Our consumption- or usage-based offerings may expose us to customer usage optimization behavior that could create revenue volatility.
2. The “identity security” market lacks a universally accepted definition, which could lead to mischaracterization of our offerings and adverse evaluations by industry stakeholders.
3. Customer trends toward vendor consolidation in cybersecurity may favor competitors offering broader platforms.Cybersecurity
4. Cloud infrastructure providers and advanced AI companies increasingly offer native security and observability capabilities that compete directly with our offerings.AI
5. The success of our strategy depends on maintaining a broad ecosystem of integrations with third-party technologies, which requires significant ongoing investment.

FY2026 vs FY2025 in full (10 more there) · All current headings

1. A cyber-attack or security breach on any of our or certain third-party technology systems, including but not limited to information systems, infrastructure, software and hardware, upon which we rely may adversely affect our ability to operate, could lead to a loss or misuse of confidential and proprietary information, or potential liability.Cybersecurity
2. Compliance with and changes in cybersecurity requirements have a cost and operational impact on our business, and failure to comply with such laws and regulations could adversely impact our reputation, results of operations, financial condition and/or cash flows.Cybersecurity
3. The impacts of natural disasters, acts of terrorism, acts of war, civil unrest, accidents, public health emergencies or other catastrophic events may disrupt operations and reduce the ability to service customers.
4. NISOURCE INC.
5. Data center growth in our service territories, including a focus on northern Indiana, while providing growth opportunities that enhance our business strategy, provide significant financial, operational, and regulatory risks that must be effectively managed.

FY2025 vs FY2024 in full (9 more there) · All current headings

1. Risk Factors Summary:
2. We derive a significant portion of our revenues from a small number of customers and licensees, and particularly from their sale of premium-tier handset devices. If revenues derived from these customers or licensees decrease or the timing of such revenues fluctuates, our business and results of operations could be negatively affected.
3. Our business, particularly our semiconductor business, may suffer as a result of our customers vertically integrating (i.e., developing their own integrated circuit products).
4. A significant portion of our business is concentrated in China, and the risks of such concentration are exacerbated by U.S./China trade and national security tensions.China
5. We may engage in acquisitions and other strategic transactions or make investments, or be unable to consummate planned strategic acquisitions, which could adversely affect our results of operations or fail to enhance stockholder value.

FY2025 vs FY2024 in full (9 more there) · All current headings

1. The Company’s failure to successfully integrate the BDS Business within the expected timeline could adversely affect the Company’s future results.
2. In connection with the BDS Business Acquisition, the Company may incur additional costs and charges as a result of restructuring activities related to its manufacturing operations and supply chain as well as in order to streamline ancillary business functions that are intended to reduce ongoing costs, and those restructuring activities also may be disruptive to the Company’s business and may not result in anticipated cost savings.
3. The amount of indebtedness that the Company assumed as a result of the BDS Business Acquisition is substantial. This increased level of indebtedness could adversely affect the Company’s operational flexibility and increase its borrowing costs.
4. The Company and SpinCo are required to abide by potentially significant restrictions that could limit the Company’s ability to undertake certain corporate actions that otherwise could be advantageous.
5. The Company may be unable to provide (or obtain from third parties) the same types and level of services to the BDS Business that historically have been provided by BD or may be unable to provide (or obtain) them at the same cost.

FY2025 vs FY2024 in full (9 more there) · All current headings

1. Our engagement in business development activities, including acquisitions or divestitures of product lines or businesses, could impact our business, consolidated financial condition, results of operations or liquidity.
2. K-C stockholders and Kenvue stockholders, in each case as of immediately prior to the mergers, will have reduced ownership in the combined company and less influence over management.
3. The mergers may not be completed and the Merger Agreement may be terminated in accordance with its terms.
4. Failure to complete the mergers, or a delay in the closing of the mergers, could negatively impact our business, results of operations, financial condition and stock price.
5. Litigation relating to the mergers could result in an injunction delaying or preventing the closing of the mergers and/or substantial costs or otherwise negatively affect our business and operations.

FY2025 vs FY2024 in full (8 more there) · All current headings

1. Completion of the proposed transaction with Qorvo may be delayed or not occur at all for a variety of reasons, including that the Merger Agreement is terminated, and the failure to complete the Mergers could adversely affect our business, results of operations, financial condition, and the market price of our common stock.
2. Completion of the proposed Mergers is subject to the satisfaction or waiver of closing conditions contained in the Merger Agreement, including certain regulatory approvals which may not be received, may take longer than expected or the receipt of which may impose conditions that are not presently anticipated or that cannot be met, and if these closing conditions are not satisfied or waived, the proposed Mergers will not be completed.
3. Failure to realize the benefits expected from the Mergers could adversely affect our business, results of operations, and financial condition.
4. Efforts to complete the Mergers could disrupt our relationships with third parties and employees, divert management’s attention, or result in negative publicity or legal proceedings, any of which could adversely impact our operating results and ongoing business.
5. The Merger Agreement contains provisions that limit our ability to pursue alternative transactions to the Mergers which could discourage a potential third party from making an alternative transaction proposal.

FY2025 vs FY2024 in full (6 more there) · All current headings

1. Global and regional economic conditions have and could in the future materially affect our business, financial condition and results of operations.
2. We are subject to foreign currency exchange fluctuations, which could have a material adverse effect on our financial condition or results of operations.
3. Geopolitical events, tariffs and trade policies, and military conflicts have and could in the future materially affect our business, financial condition and results of operations.Tariffs
4. Competition in the markets for our products and services is increasing.
5. Our success depends on our ability to quickly and profitably develop, manufacture, market, and obtain and maintain regulatory approvals or clearances of new, improved or refurbished products and services.

FY2025 vs FY2024 in full (5 more there) · All current headings

1. Fifth Third’s business is dependent on the availability and performance of operational and information technology systems, including those provided by third-party service providers. Interruptions or failures could materially adversely affect operations.
2. Deposit insurance premiums levied against the Bank could increase.
3. Changes in the market could impact Fifth Third’s mortgage banking business.
4. Difficulties in identifying suitable acquisition or investment opportunities, integrating acquisitions, or evaluating or entering into strategic investments and relationships may hinder Fifth Third from achieving the expected benefits from these acquisitions, investments or relationships.
5. Fifth Third may sell certain businesses or investments but such sales may not yield desired gains or equity increases. Additionally, lost income from these sales could have an adverse effect on its future earnings and growth.

FY2025 vs FY2024 in full (5 more there) · All current headings

1. Our success depends on our ability to successfully execute our go-to-market strategy, including offering solutions as-a-Service, effectively planning and managing our resources, and continuing to develop and manage our offerings to integrate new features and solutions.
2. We depend on third-party suppliers, contract manufacturers (including original equipment and original design manufacturers), as well as single-source and limited source suppliers, and our financial results could suffer if we fail to manage these third party relationships effectively.
3. Uncertainty and fluctuations in geopolitical and macroeconomic conditions may adversely impact our business, financial condition, and operating results.
4. Long sales and implementation cycles for our offerings and dynamics related to large orders may cause our revenues and operating results to vary significantly from quarter-to-quarter.
5. Our ability to achieve our strategy could be harmed if we are unable to attract, retain, train, motivate, develop, and transition key personnel.

FY2025 vs FY2024 in full (5 more there) · All current headings

1. Regulatory and market uncertainty have and may continue to impact our business and the markets for our products.
2. We may experience difficulties executing our near-term strategy and prioritized pipeline.
3. Federal legislative and regulatory efforts to implement reference pricing or most-favored-nation pricing models and other, similar regulatory actions could impact our product revenues and materially harm our business.
4. mRNA drug development involves substantial clinical and regulatory risks, and negative perceptions of our platform, products and product candidates could adversely affect our business and ability to obtain regulatory approvals.
5. Although we have obtained rare pediatric disease designation for mRNA-3927, we may not be eligible to receive a priority review voucher in the event the FDA determines we no longer meet the criteria for designation, revokes the designation or FDA approval does not occur by September 30, 2029.

FY2025 vs FY2024 in full (5 more there) · All current headings

1. The completion of the PSKY Merger is subject to a number of conditions, many of which are largely outside the parties’ control, and, if these conditions are not satisfied or waived, the PSKY Merger may not be completed within the expected timeframe or at all.
2. Failure to complete the PSKY Merger could adversely affect our business, results of operations and financial condition, including in the event WBD is required to pay the Company Termination Fee and reimburse PSKY for certain payments.
3. While the PSKY Merger is pending, we will be subject to business uncertainties and certain contractual restrictions that could adversely affect our business, results of operations and financial condition.
4. The success of our business depends on the acceptance of our content and brands by our U.S. and international viewers, which may be unpredictable and volatile.
5. We rely on platforms owned by our competitors for digital and linear distribution of our content.

FY2025 vs FY2024 in full (5 more there) · All current headings

1. Our capital markets activities expose us to risks that could limit our revenue growth and expose us to losses from counterparties.
2. Our financial support to particular structured financing vehicles, or our inability to provide support, may cause our AUM, revenue and earnings to decline.
3. New and evolving and sometimes conflicting sustainability/ESG regulations and disclosure expectations could increase our compliance costs and expose us to enforcement, litigation or fundraising constraints.
4. We derive a substantial portion of our revenues from funds managed pursuant to management agreements that may be terminated. In addition, the investment management agreements related to our separately managed accounts may permit the investor to terminate our management of such accounts on short notice.
5. Our credit funds are subject to the risks inherent in the private credit industry.

FY2025 vs FY2024 in full (4 more there) · All current headings

1. Market Design.
2. Expiration or termination of our PPAs and other contractual agreements may significantly reduce our revenue and allow the counterparty or customer to seek liquidated damages.
3. Following the Calpine acquisition in January 2026, we have several government awards for projects involving cost-share agreements with the DOE, which could be affected by our inadvertent failure to comply with certain laws, rules, and regulations.
4. We are subject to risks associated with weather, including its effect on the supply and demand for electricity, as well as impacts from climate change, including extreme weather events.
5. We are subject to certain risks associated with the operation and maintenance of generation facilities.

FY2025 vs FY2024 in full (4 more there) · All current headings

1. The Cox Transactions are subject to conditions, some or all of which may not be satisfied, or completed on a timely basis, if at all. Failure to complete the Cox Transactions could have a material adverse effect on us.
2. Our plans for funding the cash consideration and assuming indebtedness of Cox Communications may be adversely affected to the extent there are greater-than-expected increases in our indebtedness, lower-than-expected operating results, credit rating downgrades, or significant financial market disruptions.
3. Charter and Cox Communications are subject to contractual restrictions while the Cox Transactions are pending, which could adversely affect their respective businesses and operations.
4. We will incur direct and indirect costs as a result of the Cox Transactions.
5. A/N and Liberty Broadband currently have governance rights that give them influence over corporate transactions and other matters. In connection with the Cox Transactions, Liberty Broadband will lose its governance rights (assuming the closing of the Liberty Broadband Combination), A/N’s governance rights will be modified and Cox Enterprises will receive governance rights pursuant to the amended stockholders agreement and amendments to Charter’s governing documents, and Cox Enterprises and A/N will have influence over corporate transactions and other matters.

FY2025 vs FY2024 in full (4 more there) · All current headings

1. We are subject to risks relating to acquisitions, joint ventures and investments, and risks relating to the integration of acquired companies.
2. We rely on suppliers to provide raw materials, components, and services.
3. Risks and uncertainties related to the development and use of artificial intelligence may present business, compliance and reputational risks.AI
4. Our ability to identify, attract, develop, engage, and retain qualified employees could affect our ability to execute our strategy.
5. We may not complete the anticipated spin-off or complete it within the time frame we anticipate or at all; the spin-off may present difficulties that could have an adverse effect on us; costs associated with the spin-off may be higher than anticipated; we may not realize some or all of the expected benefits of the spin-off.

FY2025 vs FY2024 in full (4 more there) · All current headings

1. The imposition of tariffs, quotas, trade barriers, or other restrictions could increase the cost of key inputs or reduce their availability. In particular, recent U.S. tariffs imposed or threatened to be imposed on a variety of countries, and any retaliatory actions taken by such countries, could result in the Company incurring additional costs to procure key inputs.Tariffs
2. Fuel and transportation costs may become inflated and there may be supply chain shortages and delays, as has occurred in recent years.
3. Volatile fluctuations in market conditions could cause the Company's hedging instruments for its exposure to commodity prices to become ineffective, which could require any gains or losses associated with these instruments to be reported in the Company’s earnings each period. These instruments may limit the Company’s ability to benefit from market gains if commodity prices become more favorable than those secured under the Company’s hedging programs.
4. The Company is subject to the risk of unfavorable changes in the Company’s relationships with significant customers, suppliers, distributors, and other third parties.
5. The Company may be adversely impacted if the Company is affected by cybersecurity attacks or other security breaches.Cybersecurity

FY2025 vs FY2024 in full (4 more there) · All current headings

1. Security of our products, services, devices, and customers’ data
2. Development and deployment of defensive measures
3. Disclosure and misuse of personal data could result in liability and harm our reputation.
4. Abuse of our platforms may harm our reputation or user engagement.
5. Advertising, professional, marketplace, and gaming platform abuses

FY2026 vs FY2025 in full (4 more there) · All current headings

1. and effectively deliver merchandise to our stores and customers.
2. •Our industry is highly competitive and we face increased competition based on a number of factors that could negatively impact our sales.
3. •We face disruption risks related to the outsourcing of certain aspects of our business to third parties, as well as challenges related to the insourcing of certain business functions.
4. •The operation and growth of our business may be harmed if we are unable to retain key associates, attract qualified personnel and manage employment-related costs.
5. •Our operating results may be harmed by unsuccessful management of our operating costs, including costs related to employment, advertising and occupancy.

FY2025 vs FY2024 in full (4 more there) · All current headings

1. Geopolitical risks could disrupt global markets and negatively impact the Company’s business and financial results.
2. The Company is subject to a wide range of food safety and quality, manufacturing and labeling, occupational health and safety, environmental, and other regulatory requirements which may expose the Company to certain regulatory or reputational risks.
3. The Company is subject to various evolving regulations related to ESG matters which impacts the Company’s business and strategies, and could adversely affect its reputation, business and results of operations.
4. The Company’s goals and stakeholder expectations relating to ESG-related matters and sustainable practices may expose the Company to increased costs, reputational harm and other risks.
5. Risks relating to regulations specifically affecting the agricultural sector and related industries, as well as those that affect the Company’s other business and practices, could adversely affect the Company’s business, reputation and operating results.

FY2025 vs FY2024 in full (3 more there) · All current headings

1. We may not be able to successfully integrate our businesses associated with the Transaction, or such integration may be more difficult, time-consuming or costly than expected.
2. We will continue to incur substantial expenses related to the integration of Discover, and the expenses may be greater than anticipated due to factors, some or all of which may be outside our control.
3. The integration of Discover may have an adverse effect on our business and results of operations due to the diversion of a substantial portion of the time and attention of our management team as well as potential employee attrition.
4. Risks of external fraud exceeding our expectations due to larger, more sophisticated, or more frequent fraud attacks, failure to detect and respond to such attacks and/or the reduced capability to recover losses from those incidents. This could result in increased fraud loss, operational cost, customer dissatisfaction, reputational damage and/or constrained revenue growth for us.
5. A change in market preference towards other operators of payment networks and alternative payment providers could result in reduced transaction volume, limited merchant acceptance of our cards and limited issuance of cards on our networks by third parties, and in turn may impact our revenue margins.

FY2025 vs FY2024 in full (3 more there) · All current headings

1. We are subject to risks associated with public health crises.
2. Our use of, or our failure to effectively and timely utilize, emerging technologies, including AI, could adversely impact our business and financial results.AI
3. We may be adversely impacted by global economic, political and social conditions.
4. Our international operations subject us to certain business risks.
5. Health care legislation and other regulations may adversely impact access to and demand for our products.

FY2025 vs FY2024 in full (3 more there) · All current headings

1. We are self-insured for certain costs associated with our operations, and insurance and claims expenses could materially and adversely affect our business, financial condition, cash flows, and results of operations.
2. Failure of third-party service providers, vendors, and suppliers to perform as expected, or disruptions in our relationships with such third parties or their provision of services to FedEx, could materially and adversely affect our business, financial condition, cash flows, and results of operations.
3. We may not be able to achieve our calendar 2029 financial performance targets.
4. We may not realize the anticipated benefits from the Spin-Off, which could harm our business.
5. The Spin-Off could result in substantial tax liability to us and our stockholders.

FY2026 vs FY2025 in full (3 more there) · All current headings

1. Our emphasis on commercial lending may expose us to increased lending risks.
2. We grow our business in part by acquiring, from time to time, other financial services businesses and businesses with technologies or other assets valuable to us. Acquisitions present several risks and uncertainties related both to the acquisition transactions themselves and to the integration of the acquired businesses into Huntington after closing.
3. Reputational Risk:
4. Cadence Merger Risks:
5. We are expected to incur substantial costs related to the Cadence Merger and integration.

FY2025 vs FY2024 in full (3 more there) · All current headings

1. The Transactions are subject to conditions, some or all of which may not be satisfied or completed on a timely basis, if at all. Failure to complete the Transactions in a timely manner or at all could have adverse effects on us.
2. We and Jetro Restaurant Depot are subject to business uncertainties and contractual restrictions while the Transactions are pending.
3. The mergers are subject to the requirements of the HSR Act, and regulatory authorities may impose conditions that could have an adverse effect on us following the Transactions or that could delay, prevent or increase the costs associated with completion of the Transactions.
4. We expect to obtain financing in connection with the Transactions but cannot guarantee that we will be able to obtain such financing on favorable terms or at all.
5. We may not achieve the intended benefits, and the Transactions may disrupt our current plans or operations.

FY2026 vs FY2025 in full (3 more there) · All current headings

1. The business and capital investment plans of AEP depend, in part, on the continued growth and viability of data centers and large load customers interconnecting with the AEP System. (Applies to all Registrants)
2. The business and capital investment plans of AEP are subject to execution risks. (Applies to all Registrants)
3. Regulated electric revenues and earnings are subject to prudency review. (Applies to all Registrants)
4. Regulatory bodies may not allow recovery of costs incurred on a timely basis. (Applies to all Registrants)
5. AEP is subject to negative publicity. (Applies to all Registrants)

FY2025 vs FY2024 in full (2 more there) · All current headings

1. A prolonged recession and/or a downturn in global automotive sales could adversely affect our business and cause us to require additional sources of financing to continue our operations, which may not be available to us or be available only on materially different terms than what has historically been available.
2. Our inability to effectively manage the timing, quality and costs of new program launches could adversely affect our financial performance.
3. The discontinuation or loss of business, or lack of commercial success with respect to a particular product for which we are a significant supplier could reduce our sales and harm our profitability.
4. Changes in tax laws, tax rates and adverse positions taken by taxing authorities could impact operating results.
5. Our tax burden could increase as a result of ongoing or future tax audits.

FY2025 vs FY2024 in full (2 more there) · All current headings

1. We have exposure to changing tax legislation and administrative practices, and to tax authorities successfully imposing additional non-income tax obligations or liabilities on us.
2. Our indebtedness and liabilities could limit the cash flow available for our operations, expose us to risks that could adversely affect our business, financial condition and results of operations and impair our ability to satisfy our obligations under our debt agreements.
3. We may be unable to raise the funds necessary to repurchase the 2030 Notes for cash following a fundamental change, or to pay any cash amounts due upon conversion, and our other indebtedness limits our ability to repurchase the 2030 Notes or pay cash upon their conversion.
4. The accounting method for the 2030 Notes could adversely affect our reported financial condition and results.
5. The convertible note hedge and warrant transactions may affect the value of the 2030 Notes and our Class A common stock.

FY2025 vs FY2024 in full (2 more there) · All current headings

1. The Roku Transaction may not be completed or may be delayed if the closing conditions in the Merger Agreement are not satisfied, and the Merger Agreement may be terminated in accordance with its terms.
2. Entry into the Merger Agreement could have a variety of negative impacts on FOX and the market prices of the Common Stock.
3. Business uncertainties and contractual restrictions on FOX while the Merger is pending could adversely affect FOX’s business and operations.
4. The market price of the Common Stock may decline as a result of the Merger.
5. The Company or its Board of Directors may be the target of Merger-related lawsuits that result in substantial costs or delay or prevent the completion of the Merger.

FY2026 vs FY2025 in full (2 more there) · All current headings

1. Rothera, owned and operated as a joint venture with SIG, operates a futures and derivatives exchange and clearinghouse through its subsidiary, Rothera E&C. We do not wholly own or operationally control Rothera and its subsidiaries, and actions taken by Rothera and its subsidiaries could adversely affect our business, financial condition, results of operations, and reputation.
2. Broker-Dealer, FCM, Investment Adviser, and Insurance Regulations
3. •customer dissatisfaction with the RHC and Bitstamp USA, Inc. platforms removing certain cryptocurrencies because the SEC or a court has asserted or determined that the cryptocurrencies or similar cryptocurrencies are securities.
4. Our wholly-owned subsidiary, RHV, serves as the investment adviser to RVI, a closed-end investment company, which will subject us to additional burdens and risks and could subject us to potential liability.
5. Our provision of brokerage and custodial services to RIAs exposes us to operational, regulatory and reputational risks.

FY2025 vs FY2024 in full (2 more there) · All current headings

1. Changes in environmental conditions and responsive legislation or regulation may have a long-term adverse impact on our business and results of operations.
2. The Separation is subject to various risks and uncertainties, involves significant time, expense, and resources and may be further delayed or we may decide to cease work related to the Separation entirely.
3. The Separation if completed, may not achieve the anticipated benefits and will expose us to new risks.
4. The Separation if completed, may adversely impact our ability to access the capital markets and our cost of capital.
5. If the Separation and/or certain related transactions do not qualify as transactions that are generally tax-free for U.S. federal income tax purposes, we and our stockholders could be subject to significant tax liabilities.

FY2025 vs FY2024 in full (2 more there) · All current headings

1. Changes to U.S. tariff and customs policy, including the elimination of the de minimis exemption, have and may further materially increase product costs and negatively affect margins.Tariffs
2. Macroeconomic volatility, inflationary pressures, and shifts in consumer sentiment may reduce demand for our products.
3. Global political and economic instability, including geopolitical conflicts and political polarization, could disrupt our operations and increase costs.
4. Trade restrictions, tariffs, and customs changes could disrupt our supply chain and compress margins.Tariffs
5. Our financial condition could be adversely affected by public health crises.

FY2025 vs FY2024 in full (2 more there) · All current headings

1. Climate change may have a long-term impact on our business.
2. We were delinquent in certain SEC reporting obligations in prior fiscal years, which may increase the risk of SEC enforcement actions, damage investor confidence, and require significant resources to correct. We have since implemented enhanced compliance controls to prevent recurrence.
3. We are subject to complex laws, rules, regulations, and political and other actions, including restrictions on the export of our products, which may adversely impact our business.
4. Provisions of our certificate of incorporation and bylaws and Delaware law and provisions in our governing documents could delay or prevent a change of control of our company.
5. Provisions in our 2029 Convertible Notes Indenture, the 2028 Convertible Notes Indenture, and the 2030 Convertible Notes Indenture, the conversion of our Mandatory Convertible Preferred Stock or Depositary Shares, or the payment of dividends on Mandatory Convertible Preferred Stock in shares of common stock, may dilute the ownership interest of our existing stockholders.

FY2026 vs FY2025 in full (2 more there) · All current headings

1. If we are not successful in managing our inventory balances, our sales may decline and our results of operations may be negatively affected.
2. The development and use or misuse of AI or the failure to use AI present risks and challenges that may negatively affect our business.AI
3. An inability to execute our real estate growth and optimization strategy could affect our financial results.
4. Expanding into international markets exposes us to additional risks.
5. Harm to our reputation could adversely impact our ability to attract and retain guests, associates, vendors, and/or other partners.

FY2025 vs FY2024 in full (2 more there) · All current headings

1. Escalated or escalating U.S. tariffs, as well as countermeasures and retaliatory actions taken by other countries, may have a negative effect on global economic conditions, financial markets and our business.Tariffs
2. Our products, services, and external facing or internal network systems, or those of third parties on which we rely, could experience cybersecurity incidents, and defects, errors, or vulnerabilities in our products, or the misuse of our products, could lead to cybersecurity incidents or a failure to detect cybersecurity incidents, create product liability risks, damage our reputation, adversely impact our operating results, or otherwise negatively impact our business.Cybersecurity
3. We, or third parties on which we rely, could experience cybersecurity incidents relating to our information systems, or our products, services, or data, which could disrupt our operations or our ability to provide services, cause vulnerabilities or perceived vulnerabilities in our product, compromise intellectual property or other sensitive data, harm our reputation, damage customer or other relationships, delay our ability to recognize revenue, lead to significant costs, legal proceedings, legal liability, or enforcement actions, or otherwise negatively impact our business.Cybersecurity
4. Foreign investment laws and regulations, and other trade or regulatory barriers, may have a negative effect on global economic conditions, financial markets and our business.
5. Failure to comply with governmental laws and regulations, including privacy laws, environmental laws and export controls, could harm our business.

FY2025 vs FY2024 in full (1 more there) · All current headings

1. We operate in a highly cyclical semiconductor industry that is undergoing profound change due to AI.AI
2. A significant reduction in demand from certain customers or loss of one or more of our significant customers may adversely affect our business.
3. A slow or the unsuccessful return on our investments in research and development, expansion of our business strategy or adoption of new business models could materially adversely affect our business, financial condition, cash flows and margins.
4. Winning business in the semiconductor solutions industry is an unpredictable process that is often lengthy in time and requires us to incur significant expenses, evolve our business strategy or adopt a new business model, which may negatively impact our results of operations, gross margin or cash flows.
5. We utilize a significant amount of IP in our business. Failure to protect the IP utilized in our business could adversely affect our business.

FY2025 vs FY2024 in full (1 more there) · All current headings

1. The timing and closing of the AT&T Transactions and SpaceX Transactions are not certain, and are subject to certain conditions, some of which we cannot control, which could result in the AT&T Transactions or SpaceX Transactions, respectively, not being completed or being completed later than we expect, which could have a material adverse impact on our expected leverage and available cash-on-hand, as well as costs and revenues, or otherwise reduce the anticipated benefits of the AT&T Transactions and SpaceX Transactions, respectively.
2. Investor expectations regarding our potential investment in SpaceX may be currently influencing our stock price, and, if so, any adverse developments relating to SpaceX, changes in market perception of SpaceX or failure to complete the SpaceX Transaction could materially and negatively impact the market price of our Class A common stock.
3. Changes in trade policies, including, but not limited to, tariffs and other restrictions, could, among other things, increase our costs, disrupt our supply chain and negatively affect our business, operations and financial condition.Tariffs
4. We, and certain of our subsidiaries, currently do not have the necessary cash on hand, projected future cash flows or committed financing to fund our obligations over the next twelve months, which raises substantial doubt about our, and certain of our subsidiaries, ability to continue as a going concern.
5. We have substantial debt outstanding and may incur additional debt, and covenants in our Indentures could limit our ability to undertake certain types of activities and adversely affect our liquidity.

FY2025 vs FY2024 in full (1 more there) · All current headings

1. Global economic conditions could adversely affect our business, results of operations or financial condition.
2. Analytical models used in decision making and estimates, assumptions and valuations in these models could vary materially from actual results, which could have an adverse impact on the financial condition, results of operations and cash flows of the Company.
3. Business or asset acquisitions and dispositions may expose us to certain risks.
4. We may be subject to legal, governmental or regulatory proceedings.
5. Insurance laws and regulations restrict our ability to operate and any failure to comply with those laws and regulations could have a material adverse effect on our business.

FY2025 vs FY2024 in full (1 more there) · All current headings

1. Ford may not realize the anticipated benefits of existing or pending strategic alliances, joint ventures, acquisitions, divestitures, commercial relationships, or business strategies or the benefits may take longer than expected to materialize.
2. Ford may not realize the anticipated benefits of restructuring actions and such actions may cause Ford to incur significant charges, disrupt our operations, or harm our reputation.
3. Failure to develop and deploy secure digital services that appeal to customers, retain existing subscribers, and grow our subscription rates could have a negative impact on Ford’s business.
4. Ford’s ability to maintain a competitive cost structure could be affected by labor or other constraints.
5. Ford’s ability to attract, develop, grow, support, and reward talent is critical to its success and competitiveness.

FY2025 vs FY2024 in full (1 more there) · All current headings

1. Export controls, sanctions and other trade-related regulations issued by Commerce and other governmental authorities may limit our ability to sell certain products or provide certain services to certain customers, particularly in
2. China, and may significantly harm our business, results of operations, financial condition and cash flows, unless we are able to obtain required licenses.China
3. Recently announced and future U.S. tariffs, retaliatory trade measures and other trade restrictions, as well as uncertainty regarding tariff authority, implementation and refund processes, may have a material adverse impact on our results of operations.Tariffs
4. We rely upon critical information systems, including our ERP system, for daily business operations and financial reporting, and system failures, implementation issues, or limited access to critical information could adversely affect our business operations.
5. We are exposed to risks associated with our interest rate hedging activities.Interest rates

FY2026 vs FY2025 in full (1 more there) · All current headings

1. We are exposed to credit, liquidity and counterparty risks from our clearinghouse operations and third-party relationships that could adversely affect our financial position and results of operations.
2. which may result in financial loss or reputational damage.
3. which are subject to political, economic and social uncertainties.
4. Unforeseen or catastrophic events could interrupt our critical business functions. In addition, our U.S. and
5. European businesses are heavily concentrated in particular areas and may be adversely affected by events in those areas.

FY2025 vs FY2024 in full (1 more there) · All current headings

1. We are subject to business, financial and reputational risks related to cybersecurity incidents and data breaches.Cybersecurity
2. If our accounting estimates and judgments turn out to be inaccurate, our future financial results could fall short of expectations, which could have a material adverse effect on our stock price.
3. Conversion of our Mandatory Convertible Preferred Stock (and our depositary shares), or the payment of dividends on Mandatory Convertible Preferred Stock in shares of common stock, or the issuance of shares of our common stock under the ATM Program will dilute the ownership interest of the holders of our common stock.
4. The ATM Program, the Mandatory Convertible Preferred Stock or our depositary shares may adversely affect the market price of our common stock, and we cannot guarantee that our ATM Program will be fully implemented.
5. Our common stock ranks junior to our Mandatory Convertible Preferred Stock with respect to the payment of dividends and amounts payable in the event of our liquidation, winding-up or dissolution.

FY2026 vs FY2025 in full (1 more there) · All current headings

1. If we fail to expand our relationships with intermediaries, our ability to grow our business may be materially and adversely affected.
2. We may be unable to adequately protect our intellectual property rights, which could limit our ability to sell our products profitably, or at all, and cause us to incur additional costs.
3. The international nature of our business subjects us to additional business risks that may have an adverse effect on our financial condition or results of operations.
4. Expansion of U.S. tariffs could have a material adverse effect on our financial results.Tariffs
5. Our inventory is produced and maintained in a limited number of locations, including one operated by a third party in China, and any loss could have a material adverse effect on our ability to manufacture and sell our products.China

FY2025 vs FY2024 in full (1 more there) · All current headings

1. Our inability to innovate and compete with new or enhanced products and services of our competitors could have a material adverse effect on our business, financial condition or results of operations.
2. Our inability to adequately obtain, protect and maintain our intellectual property and other proprietary rights could impact our competitive position.
3. We have been, and may in the future be, subject to intellectual property disputes, which are costly to defend and could harm our business and operating results.
4. Changes and increased enforcement in the global privacy, data localization, operational resilience, and data protection legislative, regulatory, and commercial environments in which we operate may materially and adversely impact our ability to collect, compile, use, and publish data, require us to disclose information about our security environment, and could have a material adverse effect on our business, financial condition or results of operations.
5. The planned separation of our Mobility business into an independent, publicly traded company is contingent upon the satisfaction of a number of conditions, may not be completed on the currently contemplated timeline, or at all, and may not achieve the intended benefits.

FY2025 vs FY2024 in full (1 more there) · All current headings

1. An inability to successfully manage the implementation of our new commercial global enterprise resource planning
2. (ERP) system could adversely affect our operations and operating results
3. Current economic and political conditions make tax rules in jurisdictions subject to significant change
4. We could be negatively impacted by future changes in the allocation of income to each of the income tax jurisdictions in which we operate
5. unfavorable court decisions or legal settlements

FY2025 vs FY2024 in full (1 more there) · All current headings

1. Our business may also be adversely impacted by new or changing technologies and new business models affecting the auto insurance industry
2. Our competitive position depends on our ability to successfully deploy advanced technologies
3. Enterprise resilience is critical to the ability to restore business operations following a significant operational event
4. Widespread disruptive or destabilizing events may have an adverse effect on our business
5. Our practices relating to environmental and social matters may not meet stakeholders' expectations

FY2025 vs FY2024 in full · All current headings

1. Our business, results of operations and financial condition could be negatively impacted by disputes with our customers.
2. Our use of joint ventures and strategic partnerships may expose us to risks associated with jointly owned investments.
3. Our data center segment contains certain operational differences from our tower leasing operations, resulting in different operational risks. If we do not successfully operate our data center segment or identify or manage the related operational risks, such operations may produce results that are lower than anticipated.
4. Our business depends on effective data governance, and failures in our data governance frameworks could adversely affect our operations.
5. The transformation initiatives we undertake may not deliver the results we expect.

FY2025 vs FY2024 in full · All current headings

1. The potential slowdown and shift in the energy transition could have an adverse effect on the demand for our clean energy technologies and services.
2. Our proposed transaction with Chart creates business, regulatory, and reputational risks.
3. We may not be able to realize the potential financial or strategic benefits of the transactions we complete, or find suitable target businesses to acquire.
4. Recent changes in U.S. administrative policy, including increases in tariffs and any changes in international trade relations or trade agreements, may have an adverse effect on our business.Tariffs
5. We may use AI, machine learning, data science and similar technologies in our business, products and services, and challenges with properly managing such technologies could result in reputational harm, competitive harm or legal liability, and adversely affect our business, financial condition and results of operations.AI

FY2025 vs FY2024 in full · All current headings

1. In July 2025, the OBBBA was enacted which, among other things, aims to achieve efficiencies in U.S. federal government healthcare spending over the next decade, primarily within Medicaid. We are continuing to assess the full scope of this legislation and its potential commercial implications, and it is possible that these changes may impact our cash flows and results of operations.
2. introduction of competitive products that treat diseases and conditions like those treated by our products and product candidates. Business combinations among our competitors and major third-party payers may also increase competition for our products. If we are unable to compete successfully against our competitors’ products in the marketplace, this could have a material negative impact on our revenues and earnings.
3. brand and reputation, reduced demand for our products, inability to attract and retain employee talent or other negative impacts on our business and operations.
4. imposed on us that could have a material adverse effect on our competitive position, cash flows, results of operations, financial condition or reputation.
5. competitive products enter the market or clinical trial results for our competitors’ products affect the value proposition for our product. Any such delays or difficulties in clinical development could also potentially lead to a material impairment of our intangible assets, including the $19.1 billion of other intangible assets as of December 31, 2025.

FY2025 vs FY2024 in full · All current headings

1. WE MAY FAIL TO REALIZE ALL OF THE ANTICIPATED BENEFITS OF THE TRANSACTION (INCLUDING USE OF ACCESSION’S DEFERRED TAX ASSETS), AND THE TRANSACTION OR THOSE BENEFITS MAY TAKE LONGER TO REALIZE THAN EXPECTED.
2. FINANCING THE TRANSACTION RESULTED IN AN INCREASE IN OUR INDEBTEDNESS, WHICH COULD ADVERSELY AFFECT US, INCLUDING BY DECREASING OUR BUSINESS FLEXIBILITY AND INCREASING OUR INTEREST EXPENSE.
3. WE HAVE MADE CERTAIN ASSUMPTIONS RELATING TO THE TRANSACTION WHICH MAY PROVE TO BE MATERIALLY INACCURATE.
4. WE ARE SUBJECT TO RISKS RELATED TO ACCESSION’S BUSINESS, INCLUDING UNDERWRITING RISK IN CONNECTION WITH CERTAIN CAPTIVE INSURANCE COMPANIES.
5. FUTURE SALES OR OTHER DILUTION OF OUR EQUITY COULD ADVERSELY AFFECT THE MARKET PRICE OF OUR COMMON STOCK.

FY2025 vs FY2024 in full · All current headings

1. c. Adverse weather conditions or an increase in the frequency and/or severity of adverse weather conditions could have a material impact on our business and results of operations.
2. f. Our debt requires a significant amount of cash to service and our ability to generate sufficient cash depends on many factors, some of which may be beyond our control. Our financial condition and operations could be adversely impacted if we are unable to service our debt or satisfy our covenants.
3. k. Our investments in port destinations and exclusive islands may expose us to additional risks.
4. b. Factors associated with sustainability and the impact of GHG and other emissions on the environment could have a material impact on our business and operating results.
5. c. We may not successfully complete the proposed unification of our DLC structure and the migration of Carnival Corporation’s legal incorporation to Bermuda, or, if we do, we may not realize the anticipated benefits and will be subject to Bermuda law, which differs in some respects compared to our current jurisdictions.

FY2025 vs FY2024 in full · All current headings

1. As a large global health company operating in a complex industry, we encounter a variety of risks and uncertainties, which could have a material adverse effect on our business, liquidity, results of operations, financial condition or the trading price of our securities. You should carefully consider each of the risks and uncertainties discussed below, together with other information
2. We operate in a highly competitive and evolving business environment, and our failure to compete effectively or differentiate our products and services from those of our competitors could materially adversely affect our results of operations, financial position and cash flows.
3. Legal, Regulatory and Public Policy Risks Arising from Our Business
4. Extensive health care regulation and enforcement, including fraud, waste and abuse laws, could increase our compliance costs, restrict our operations and expose us to significant liability.
5. We face political, legal, operational, regulatory, economic and other risks in connection with our international operations.

FY2025 vs FY2024 in full · All current headings

1. Our successful execution and completion of capital projects and programs, including those within our 10-year capital plan, are subject to substantial risks, and our business, financial condition, results of operations and cash flows could be materially affected should such efforts not be executed and completed as planned.
2. Changes in U.S. or foreign trade policies, including the imposition of tariffs and other trade actions, and other factors beyond our control may adversely impact our business, financial condition, results of operations and cash flows.Tariffs
3. Severe weather events, natural disasters and other climate-related impacts could adversely impact our businesses, financial condition, results of operations and cash flows.
4. Our businesses will continue to have to adapt to, integrate and implement technological change and may not be successful implementing such technological change as designed or may have to make significant investments to adapt to and integrate technological change.
5. Failure to attract, motivate and retain an appropriately qualified workforce, identify and develop top talent to succeed senior management and maintain good labor relations could adversely impact the operations of our facilities and our business, financial condition, results of operations and cash flows.

FY2025 vs FY2024 in full · All current headings

1. Our reliance on contract manufacturers, and any failure to qualify or requalify our own or our subcontractors’ manufacturing lines for volume production, could adversely affect our ability to meet customer demand and harm our business, results of operations, and financial condition.
2. We may not be able to achieve expected returns from strategic investments, including capacity expansions.
3. We purchase a significant amount of the materials and components used in our products from a limited number of suppliers.
4. Significant political, trade, regulatory developments, and other circumstances beyond our control, including those resulting from increased tariffs and ongoing geopolitical tensions, could have a material adverse effect on our financial condition and may limit our ability to sell our products to certain customers or markets, or could otherwise restrict our ability to conduct operations.Tariffs
5. Failure to maintain effective internal control over financial reporting may cause a loss of investor confidence in the reliability of our financial statements or cause us to delay filing our periodic reports with the U.S. Securities and Exchange Commission and may adversely affect our stock price.

FY2026 vs FY2025 in full · All current headings

1. Our growth is dependent on our ability to expand our square footage profitably.
2. Our sales and profitability are affected by our product assortment and customer response to the mix of products we sell.
3. We may not achieve the anticipated benefits of the sale of the Family Dollar business.
4. We use, and may over time increase the usage of, artificial intelligence and machine learning in our business, and challenges with properly managing its use could adversely affect our business.AI
5. Legal and Regulatory Risks and Related Considerations

FY2025 vs FY2024 in full · All current headings

1. Changes to regulatory, funding, staffing, trade, and other policies and actions by the U.S. political administration could adversely affect our business operations or the operations of our tenants or operators.
2. We depend on real estate investments, particularly in the healthcare property sector, making us more vulnerable to events affecting the healthcare property sector, including a downturn or slowdown in that sector, or laws affecting REIT ownership of healthcare properties.
3. The pending Janus Living Offering may not be completed on the currently contemplated timeline or terms, or at all, and may not achieve the intended benefits.
4. We will have significant economic exposure to shifts in the price of Janus Living common stock and our ability to control the assets and activities of Janus Living may be limited.
5. There are conflicts of interest in our relationship with Janus Living and our officers and/or directors who are also officers and/or directors of Janus Living.

FY2025 vs FY2024 in full · All current headings

1. We May Fail to Realize the Anticipated Benefits of the Merger, and Any Failure to Successfully Integrate the Businesses and Operations of Devon and Coterra May Adversely Affect Our Future Results
2. We Are Subject to Certain Restrictions in the Merger Agreement That May Hinder Operations Pending the Consummation of the Merger, and We May Be the Target of Securities Class Action and Derivative Lawsuits as a Result of the Merger
3. The Merger Agreement Could Be Terminated, Which Could Negatively Impact Us
4. We Face Risks Associated with Artificial Intelligence and Other Emerging TechnologiesAI
5. Activist Shareholders Could Cause Us to Incur Significant Expense, Hinder Execution of our Business Strategy and Impact Our Stock Price

FY2025 vs FY2024 in full · All current headings

1. Changes in U.S. trade policy and the impact of tariffs may have a material adverse effect on our business and results of operations.Tariffs
2. Legal proceedings brought against us could result in substantial liabilities and materially and adversely impact our financial condition.
3. Failure to comply with cybersecurity and data privacy laws and regulations could have a material adverse effect on our reputation, results of operations or financial condition.Cybersecurity
4. Our substantial indebtedness could adversely affect our results of operations, business flexibility and our ability to service our debt.
5. The provision of our certificate of incorporation and bylaws requiring exclusive venue in the Court of Chancery in the State of Delaware for certain types of lawsuits may have the effect of discouraging lawsuits against us and our directors, officers and employees.

FY2025 vs FY2024 in full · All current headings

1. Clients are seeking additional contractual protections that may create additional liabilities for us
2. Increased scrutiny with respect to sustainability matters
3. If we fail to maintain proper and effective internal control and remediate any future control deficiencies, our ability or perceived ability to produce accurate and timely financial statements or reporting could be impaired, which could harm our business.
4. Compliance with global data privacy laws which are constantly evolving
5. Our indebtedness may impair our financial condition and operations and restrict our activities or our ability to satisfy our obligations

FY2025 vs FY2024 in full · All current headings

1. We use artificial intelligence in our business, and challenges with properly managing its use could result in legal liability or reputational harm.AI
2. The One Fiserv action plan may not generate the benefits that we anticipate.
3. We make significant investments in emerging, innovative areas of financial services and technology that may not achieve expected returns.
4. Our embedded finance business is an emerging product area that could expose us to liability.
5. We have claims and lawsuits against us and have received governmental inquiries that may result in adverse outcomes.

FY2025 vs FY2024 in full · All current headings

1. Issues in the development and deployment of AI, including generative AI and emerging AI-enabled cyber threats, could expose us to regulatory, privacy, IP, cybersecurity, operational and reputational risks.AICybersecurity
2. The legal and regulatory regimes governing certain of our products and services are uncertain and evolving.
3. If we fail to operate in compliance with state or local licensing requirements, it could adversely affect our business, financial condition, results of operations and cash flows.
4. Our substantial indebtedness and related debt obligations could limit our financial and operating flexibility and increase our vulnerability to adverse business and economic conditions.
5. Adverse macroeconomic conditions have adversely affected and may continue to adversely affect the consumer finance industry and our MoneyLion business.

FY2026 vs FY2025 in full · All current headings

1. Changes in demand and customer requirements for our products may be difficult to forecast. We may be unable to increase our manufacturing capacity to meet future demand, or we may experience difficulties in generating and maintaining demand to optimize our manufacturing capacity. If we are unable to align supply with demand, it could have an adverse effect on our business, results of operations, or financial condition.
2. If we are unable to successfully identify, acquire and integrate suitable businesses, our operating results and prospects could be harmed, and any businesses we acquire may not perform as expected or be effectively integrated.
3. Our current and future indebtedness may limit our operating flexibility or otherwise affect our business.
4. The 2032 Capped Call Options may affect the value of our common stock.
5. We are subject to counterparty risk with respect to the 2032 Capped Call Options.

FY2026 vs FY2025 in full · All current headings

1. We are subject to potential professional services liability claims due to our recent acquisition of VirtuOx, which may exceed the scope and amount of our insurance coverage, which would expose us to liability for uninsured claims.
2. RESMED INC. AND SUBSIDIARIES increased costs.
3. Failure to identify, execute, and integrate acquired businesses into our operations successfully, or challenges related to the Company's strategic initiatives, including divestitures.
4. Our business depends on our ability to effectively educate and engage dealers of home healthcare products, sleep clinics and physicians, health care providers, and patients regarding the benefits of our products, software solutions and services.
5. Our use of artificial intelligence in certain products, software solutions and business operations may expose us to operational, regulatory and reputational risks that could adversely affect our business, financial condition and results of operations.AI

FY2026 vs FY2025 in full · All current headings

1. Our operating results may fluctuate due to changes in demand, industry cycles and the timing of customer deployments, including AI-related data center investments, and our ability to accurately forecast demand as a result of these changing market conditions.AI
2. Long-term agreements, which we also refer to as New Business Models or “NBMs”, expose us to certain execution, financial, and market risks, which could be significant.
3. Our guarantees of certain obligations of Flash Ventures could negatively impact our financial position, and the loan agreement governing our revolving credit facility contains various covenants and restrictions that may restrict our operations and ability to respond to future business opportunities.
4. The amount and timing of our share repurchases may fluctuate, and share repurchases may not enhance shareholder value and could affect the price of our common stock and reduce our financial flexibility.
5. In connection with our spin-off from WDC, we and WDC have assumed certain indemnification obligations. These indemnification obligations may not provide the protection we expect and could result in significant liabilities that could adversely affect our financial results.

FY2026 vs FY2025 in full · All current headings

1. Differences in competitors’ businesses or resources may at times provide them a competitive advantage.
2. Our pursuit of capital and other strategic projects and actions exposes us to various risks.
3. We are subject to risks arising from climate- and other sustainability-related advocacy and pressure.
4. We do not maintain insurance coverage that fully protects against all potential losses and liabilities.
5. We are exposed to risks arising from various labor-related matters.

FY2025 vs FY2024 in full · All current headings

1. We may be unable to sell certain properties on a timely basis or on favorable terms, which may have an adverse effect on our business, financial condition and results of operations.
2. The use of, or inability to take advantage of the benefits of, artificial intelligence by us or our managers, tenants and borrowers presents risks and challenges that may adversely impact our business and operating results or the business and operating results of our managers, tenants and borrowers or may adversely impact the requirements and demand for properties.AI
3. Adverse changes in our credit ratings could impair our ability to obtain additional debt and equity financing on favorable terms.
4. The market price and trading volume of our common stock may be volatile.
5. Our stockholders may experience dilution if we issue additional common stock.

FY2025 vs FY2024 in full · All current headings

1. Viatris’ restructuring activities may not achieve their intended goals and may present significant challenges, which could have a material adverse effect on our business, financial condition, results of operations, cash flows, ability to pay dividends or repurchase shares, and/or stock price.
2. The integration of acquired businesses has presented and may in the future present significant challenges, which could have a material adverse effect on our business, financial condition, results of operations, cash flows, ability to pay dividends or repurchase shares, and/or stock price.
3. The imposition of tariffs on, or other trade restrictions or domestic sourcing requirements in, the territories and countries where we, our partners, suppliers, or customers do business, as well as any retaliatory actions with respect to such actions, could have a material adverse effect on our business, financial condition, results of operations, cash flows, ability to pay dividends or repurchase shares, and/or stock price.Tariffs
4. Incorporating ML, AI and other emerging technologies into our products, services and operations may result in legal and regulatory risks, reputational harm or have other adverse consequences to our business, financial condition or results of operations.AI
5. If tax authorities determine that the intercompany pricing applied to our cross-border arrangements is inconsistent with the arms’ length standard or otherwise ineffective, our tax liabilities could increase.

FY2025 vs FY2024 in full · All current headings

1. Loss of revenue from Cloud or other key customers could harm our operating results.
2. Long-term agreements expose us to certain execution, financial, and market risks, which could be significant.
3. Our industry is subject to variations in demand, pricing and competitive factors, which can negatively impact our business.
4. We may be adversely affected by the risks, challenges, and evolving regulatory landscape associated with the use of AI in our operations, product development, and business practices.AI
5. If the completed Separation of Sandisk were to fail to qualify as a transaction that is generally tax-free for U.S. federal income tax purposes, we and our stockholders could be subject to significant tax liabilities.

FY2026 vs FY2025 in full · All current headings

1. Changes in trade policies, including the imposition of tariffs, sanctions, and other trade restrictions, may adversely affect our business.Tariffs
2. We use machine learning and AI in various business operations, and inability to successfully monitor and manage its use could result in operational, competitive or reputational harm, regulatory enforcement, and legal liability.AI
3. We may not have the ability to raise the funds necessary to settle conversions of our convertible senior notes in cash, or to repurchase the convertible senior notes upon a fundamental change, and our existing debt contains, and future debt may contain, limitations on our ability to pay cash upon conversion or repurchase of the convertible senior notes.
4. The conditional conversion feature of our convertible senior notes, if triggered, may adversely affect our financial condition and operating results.
5. Conversion of our convertible senior notes may dilute the ownership interest of our stockholders or may otherwise depress the price of our common stock.

FY2025 vs FY2024 in full · All current headings

1. We are subject to risks related to brine extraction limits, particularly with respect to our early warning plan at our facilities in Chile.
2. We may be subject to indemnity claims and liable for other payments relating to properties or businesses we have divested, including in connection with the divestiture of the controlling interest in our Refining Solutions business.
3. We may discontinue or divest all or part of a particular business or plant as we periodically assess our business structure. Any such discontinuations or divestitures may introduce significant risks and uncertainties.
4. Integration of AI technologies into our operations may introduce new risks, require significant additional investment, and materially impact our competitive position if unsuccessful.AI

FY2025 vs FY2024 in full · All current headings

1. The development, deployment and use of AI in our products and business operations generally could result in regulatory action, legal liability, operational challenges or reputational harm and our failure to adapt to medical technology industry trends and developments related to AI in a timely manner (or at all) could adversely affect our business, financial condition, results of operations and cash flows.AI
2. The proposed combination of our Biosciences and Diagnostic Solutions business with Waters may not be completed, on the currently contemplated timeline or at all.
3. The announcement and pendency of the combination of our Biosciences and Diagnostic Solutions business with Waters could cause disruptions in our business.
4. We may not realize some or all of the expected benefits of the combination of our Biosciences and Diagnostic Solutions business with Waters.

FY2025 vs FY2024 in full · All current headings

1. The growth of our business depends primarily on the semiconductor and electronics systems industries.
2. Any actual or perceived failure to comply with new or existing laws, regulations and other requirements relating to the privacy, security, processing and cross-border transfer of Personal Information could adversely affect our business, financial condition and results of operations.
3. We rely on third-party data center providers and any disruption in the operations of these third-party providers, limitations on capacity or interference with our use could adversely affect our business, financial condition and results of operations.
4. Doing business with the public sector and heavily-regulated entities subjects us to risks related to government procurement processes, regulations and contracting requirements.

FY2025 vs FY2024 in full · All current headings

1. Uncertainties with respect to the development, deployment, and use of artificial intelligence present new risks and challenges and could adversely affect our business and reputation.AI
2. Our review of potential strategic alternatives may not result in an executed or consummated transaction or other strategic alternative, and the process of reviewing strategic alternatives or the outcome could adversely affect our business.
3. Significant developments or changes in national laws or policies to protect or promote domestic interests and/or address foreign competition can have an adverse effect on our business and financial statements.
4. CHARLES RIVER LABORATORIES INTERNATIONAL, INC.

FY2025 vs FY2024 in full · All current headings

1. We may be unable to complete the proposed acquisition of UniFirst, or, if completed, successfully integrate UniFirst’s business and realize the anticipated benefits of the Transaction, which could adversely affect our business, financial condition and results of operations.
2. We are subject to business uncertainties and contractual restrictions while the Transaction is pending, which could adversely affect our business and operations.
3. We rely extensively on information technology systems, including third-party systems, to process transactions, maintain information and manage our businesses. Disruptions in the availability of any internal or external information technology systems due to implementation of a new system or otherwise, or privacy incidents involving information technology systems, could impact our ability to service our customers and adversely affect our revenue, consolidated results of operations and reputation and expose us to litigation risk.
4. Our ability to successfully develop, implement and utilize artificial intelligence and other emerging technologies is subject to numerous risks and uncertainties that could adversely affect our business, results of operations, financial condition and reputation.AI

FY2026 vs FY2025 in full · All current headings

1. Our international operations expose us to risks and events beyond our control in countries in which we operate.
2. The introduction of new products and technologies involves risk, and, from time to time, we may fail to realize their anticipated benefits.
3. From time to time our equipment fails to perform as expected and we have experienced, and may in the future experience, warranty claims, post-sale repairs and recalls, and other consequences.
4. Our business may be adversely affected by any disruptions caused by union activities.

FY2025 vs FY2024 in full · All current headings

1. Duke Energy’s future results could be adversely affected if it is unable to implement its business strategy to provide reliable energy while maintaining low costs and balancing energy modernization objectives and carbon emissions reductions.
2. The Duke Energy Registrants are exposed to financial and operational risks associated with growth including volatility in sales, supply and demand forecasts, and customer usage changes which could negatively impact the Duke Energy Registrants' results of operations.
3. The Duke Energy Registrants have incurred, and may incur additional costs or delays in the construction of new plants or facilities and may not be able to recover their investments in whole or in part.
4. Failure to complete strategic transactions could adversely affect the Duke Energy Registrants’ financial condition, credit profile and ability to execute their business strategy.

FY2025 vs FY2024 in full · All current headings

1. Changes to the U.S. Government's business practices could have a material effect on its procurement, contracting, or other processes and practices and adversely affect our current programs and potential new awards.
2. Competition within our markets and bid protests may affect our ability to win new contracts and result in reduced revenues or market share.
3. Our business may be adversely affected if we are unable to attract, train, and retain qualified personnel.
4. We utilize artificial intelligence, which could expose us to liability, as well as regulatory, competition, reputational, or other risks, or otherwise adversely affect our business.AI

FY2025 vs FY2024 in full · All current headings

1. Our reliance on a limited number of third-party digital marketing and lead-generation platforms, including a single dominant platform, exposes us to significant business, financial, and operational risk.
2. Our expansion into land development and home construction activities exposes us to additional operational and real estate risks, which may adversely affect our financial condition, cash flows, and operating results.
3. Our developer lending program exposes us to additional credit, construction, operational, and valuation risks that could adversely affect our financial condition, cash flows, and operating results.
4. Executive actions and proposed federal and state legislation or regulations aimed at limiting institutional ownership and acquisition of single-family homes could materially adversely affect our business, growth strategy, and results of operations.

FY2025 vs FY2024 in full · All current headings

1. Project sites are inherently dangerous workplaces. Failure to maintain safe work sites, whether by us or by our employees, contractors, subcontractors, clients, the property owner or others working at the project site, can lead to injury, disabilities or fatalities. Such incidents could expose Jacobs to financial loss, reputational damage and potential civil or criminal liability.
2. International trade issues, including tariffs and counter tariffs, if continued, may have a negative impact on our business generally.Tariffs
3. We may not achieve some or all of the expected benefits of the Separation Transaction.
4. Our business operations are subject to various and changing federal, state, local and foreign laws and regulations that could result in costs or sanctions that adversely affect our business and results of operations.

FY2025 vs FY2024 in full · All current headings

1. Changes in U.S. trade policy and the impact of tariffs may have a material adverse effect on Boardwalk Pipelines’ business and results of operations.Tariffs
2. Failure to comply with environmental or worker safety laws and regulations or an accidental release of pollutants into the environment may cause Boardwalk Pipelines to incur significant costs and liabilities.
3. A failure in Boardwalk Pipelines’ computer systems or a cybersecurity attack on any of its computer systems, devices or telecommunications networks or those of certain third parties could cause substantial and catastrophic damage and may materially adversely affect its cash flows, financial condition and ability to operate its business.Cybersecurity
4. Boardwalk Pipelines relies on a limited number of customers for a significant portion of its revenues.

FY2025 vs FY2024 in full · All current headings

1. We are subject to government investigations, which could have a material adverse effect on our business, financial condition, results of operations, cash flows and equity.
2. Changes in trade policies, including tariffs, could cause adverse impacts to our business.Tariffs
3. Risk of the release, unplanned ignition, explosion, or improper handling of dangerous materials used in our business could disrupt our operations and adversely affect our financial results.
4. The failure to effectively maintain and modernize our IT systems and infrastructure could adversely affect our business.

FY2025 vs FY2024 in full · All current headings

1. Our operating results may be adversely impacted by the inability of our key suppliers to provide us with necessary raw materials, components, or equipment.
2. We may lose sales if critical materials from concentrated sources become restricted or subject to export controls.
3. Geopolitical instability in the Middle East may disrupt critical semiconductor materials, increase fuel costs, and adversely affect our ability to meet customer demand.
4. We face significant and evolving risks related to AI across our products, operations, cybersecurity, regulatory compliance, intellectual property, confidential information, privacy, workforce, customer transactions, and customer demand, any of which could adversely affect our business, results of operations, financial condition and reputation.AICybersecurity

FY2026 vs FY2025 in full · All current headings

1. Our success depends on our ability to differentiate our products and successfully execute and scale emerging technologies.
2. We are subject to litigation, claims, investigations, and regulatory proceedings, which are inherently unpredictable and could materially adversely affect our business, results of operations, financial condition, and cash flows.
3. The ongoing separation of our Diabetes Business could be delayed, may not be completed as currently contemplated, and could materially adversely affect our business, results of operations, financial condition, and cash flows.
4. We are incorporated in Ireland, and our jurisdiction of incorporation may subject us to risks that could adversely affect our business and holders of our securities.

FY2026 vs FY2025 in full · All current headings

1. have in the past been affected by the COVID-19 pandemic, and may be materially and adversely impacted in the future by pandemics, epidemics and other health emergencies.”
2. Newmont’s global operations create exposure to U.S. and international trade, sanctions, and export control risks. As a U.S.-headquartered company, Newmont must comply with U.S. trade laws worldwide, as well as applicable local regulations. These risks stem from cross-border movement of mineral, equipment, technology, services, capital, and data, often involving third parties. Trade compliance failures may result in legal exposure, financial penalties, operational disruption, reputational damage, and restricted access financial systems or markets.
3. Unanticipated litigation or negative developments in pending litigation or with respect to other contingencies may adversely affect our financial condition and results of operations.
4. We are subject to ongoing indemnification and other retained liabilities from both recent and historical transactions.

FY2025 vs FY2024 in full · All current headings

1. The integration of NRG and the LSP Portfolio may disrupt or have a negative impact on the Company’s business.
2. Inflation and customer affordability concerns may limit the Company’s ability to recover costs, constrain its pricing and reduce market demand for its products and services.
3. The Company’s consumer product and home services offerings expose it to installation-related damage claims, product liability, insurance limitations, and reputational risk.
4. The Company’s use of, or failure to effectively adopt, AI systems in its operations, services and products poses operational, competitive, cybersecurity, legal and compliance risks that could adversely affect the Company.AICybersecurity

FY2025 vs FY2024 in full · All current headings

1. The Mergers are subject to conditions, some or all of which may not be satisfied or completed on a timely basis, if at all. Failure to complete the Mergers could have material adverse effects on the Company.
2. The Mergers are subject to the receipt of the requisite regulatory approvals, which requisite regulatory approvals may never be obtained, therefore preventing completion of the Mergers. In addition, in granting such approvals, regulatory authorities may impose conditions that could have a significant adverse effect on the Company or the combined company and the expected benefits of the Mergers therefore preventing completion of the Mergers.
3. The Company is subject to business uncertainties and contractual restrictions while the Mergers are pending, which could adversely affect the Company’s business and operations.
4. Uncertainties associated with the Mergers may cause a loss of management personnel and other key employees, and the Company may have difficulty attracting and motivating management personnel and other key employees.

FY2025 vs FY2024 in full · All current headings

1. Risks related to the semiconductor industry and the markets in which we participate.
2. Recently announced and future tariffs and other trade restrictions could materially and adversely affect our business, financial condition and results of operations.Tariffs
3. Risks related to regulatory or legal challenges.
4. Risks related to cybersecurity and IT systems.Cybersecurity

FY2025 vs FY2024 in full · All current headings

1. An Enhanced Oversight and Enforcement Process proceeding could result in the Utility losing its license to operate as a utility.
2. PG&E Corporation and the Utility could be adversely affected by legislative and regulatory developments, including through increased compliance costs and penalties.
3. PG&E Corporation’s and the Utility’s business activities are concentrated in one industry and in one region.
4. The Utility’s environmental remediation costs could exceed its liability estimates.

FY2025 vs FY2024 in full · All current headings

1. The success of our business in the United States is dependent on an evolving legal and regulatory framework.
2. Risks related to the natural environment and related legal or regulatory developments may have a negative impact on our business and results of operations.
3. Our or our business partners’ failure or inability to adhere to privacy, data, artificial intelligence and information security laws could result in reputational harm, legal liability, and adversely affect our operating results.AI
4. We increasingly use artificial intelligence-based solutions in our business, which could result in reputational harm, legal liability, and adversely affect our operating results.AI

FY2025 vs FY2024 in full · All current headings

1. We and our customers are subject to an increasing number of laws and regulations enacted by multiple countries and jurisdictions that require new and extensive disclosures on sustainability topics, and, in some cases, remediation of adverse effects. This evolving regulatory environment will increase our compliance costs and expose us to risks associated with regulatory compliance.
2. We are subject to increasing, evolving, and conflicting expectations and scrutiny with respect to our sustainability disclosures and initiatives. Failure to meet stakeholder expectations or actual or perceived inconsistencies or inaccuracies in our sustainability disclosures could result in reputational harm, regulatory investigations, or litigation.
3. Our use of artificial intelligence (“AI”) technology and the incorporation of AI technology into our products carries risks and challenges that could adversely affect our business, financial condition, results of operations, and prospects.AI
4. Divestitures of businesses or assets may not achieve the intended strategic or financial benefits and may otherwise adversely affect our business and prospects.

FY2025 vs FY2024 in full · All current headings

1. cost of compliance or the failure to comply with, and any liabilities under, current and future laws and regulations may negatively
2. We face risks related to the Combination.
3. including the distributions of earnings to the Company by its subsidiaries, the financial condition and results of operations of the
4. factors that are beyond our control, such as economic and financial market conditions, geopolitical conflicts and other social and

FY2025 vs FY2024 in full · All current headings

1. Our restructuring activities may not be successful and the estimated costs associated with such activities may be more than expected, and our restructuring activities may adversely impact employee hiring and retention.
2. Our success depends largely on key personnel, and the loss of such personnel or failure to appropriately manage our CEO transition could harm our business and our ability to execute our strategy and labor shortages, employee turnover and wage increases could also significantly impact our operations.
3. Complications in the design or implementation of our expanded and optimized enterprise resource planning ("ERP") system could adversely affect our business and operations.
4. Changes in tax laws, regulations or tax rates could cause volatility or have a material adverse effect on our business and financial results.

FY2025 vs FY2024 in full · All current headings

1. The proposed acquisition of the Company by Merck KGaA, Darmstadt, Germany may disrupt or adversely affect our business, prospects, financial condition and results of operations.
2. We have incurred and expect to continue to incur substantial transaction-related fees and costs in connection with the Merger.
3. The Merger may not be completed within the expected timeframe, or at all, and a significant delay in or the failure to complete the Merger could adversely affect our business and the market price of our common stock.
4. The Merger Agreement contains provisions that could discourage a potential competing acquirer of the Company or could result in a competing proposal being made at a lower price than it otherwise might have been.

FY2026 vs FY2025 in full · All current headings

1. We rely on borrowings under the ABL facility and the accounts receivable securitization facility to provide funds to operate our business and make capital expenditures, and our business would be adversely affected if those facilities are not available to be drawn, or amounts available to be drawn are reduced.
2. Share repurchases could increase the volatility of the price of our common stock and could diminish our cash reserves.
3. We may fail to respond adequately to changes in technology and customer demands, which could adversely affect our results of operation, financial condition and cash flows.
4. We use AI in our business and in our products, and challenges with properly managing its use could result in reputational harm, competitive harm, and legal liability, and adversely affect our business or results of operations.AI

FY2025 vs FY2024 in full · All current headings

1. Financial difficulties experienced by any of our tenants, borrowers or guarantors, including their potential bankruptcy or insolvency, could result in defaults under, or requests to modify or terminate, their lease agreements, related guarantees or loan agreements, or otherwise have a material adverse effect on our business.
2. Our lending activities involve distinct risks compared to our acquisition and leasing of real estate, including with respect to development and construction loans for non-stabilized properties which carry additional risks, including cost overruns, completion delays, operational underperformance, and other issues that could have a material adverse effect on us.
3. We are subject to additional risks from our investments located outside the United States or on tribal land.
4. Uncertainty in the macroeconomic environment, including heightened interest rates and uncertainty regarding future interest rates, have and may continue to negatively affect us.Interest rates

FY2025 vs FY2024 in full · All current headings

1. Our recently announced workforce reduction and related reorganization, including the potential for increased reliance on proactive intelligence and artificial intelligence tools, may not achieve their intended benefits and could adversely affect our business, financial condition and results of operations.AI
2. The development and use of AI in our products may result in reputational and competitive harm and could adversely impact our business.AI
3. We may not be able to secure financing on favorable terms, or at all, to meet our future capital needs.
4. We are subject to taxation related risks in multiple jurisdictions.

FY2025 vs FY2024 in full · All current headings

1. We are transforming aspects of our sales and distribution network and go-to-market model in the U.S. and certain other markets, and these efforts may not be successful and they involve risks and challenges that may adversely impact our business, results of operations and financial condition.
2. Our product portfolio rationalization activities may not be successful or we may not fully realize the expected cost savings and/or operating efficiencies from our portfolio rationalization initiatives.
3. Natural disasters, or legal, regulatory or market measures to address natural disasters, could materially adversely affect our business and financial results.
4. Our commitments, goals and disclosures related to corporate responsibility matters, and the perception of our activities in these areas, may adversely impact us.

FY2025 vs FY2024 in full · All current headings

1. Cybersecurity incidents could disrupt business operations, result in the loss of critical and confidential information, and adversely impact the Company's reputation, operating results, and financial condition.Cybersecurity
2. We are exposed to risks related to compliance with data privacy and governance laws.
3. Our operations are subject to regulatory risks related to domestic and international, environmental, health and safety laws.

FY2025 vs FY2024 in full · All current headings

1. Integration — We may face challenges with integrating acquisitions and achieving the financial and other results and benefits anticipated at the time of acquisition.
2. Strategic Review of Portfolio — Our strategic review of our portfolio may cause disruptions to our business, may not result in the completion of transactions to restructure or divest all non-core businesses, and may not create additional value for our shareholders.
3. Artificial Intelligence — Our use of artificial intelligence technologies could adversely affect our business and financial results.AI

FY2026 vs FY2025 in full · All current headings

1. Public health events, workforce disruptions, or similar global or regional events have previously and may in the future adversely impact the Company’s business, financial condition, and results of operations.
2. Frontier exploration and development projects, including those in new or re-entered jurisdictions, involve heightened operational, regulatory, and execution risks that could adversely affect the Company’s results of operations and financial condition.
3. Changes to laws, regulations, guidance, and industry standards, or interpretations thereof, or higher than anticipated costs for asset retirement and decommissioning obligations could adversely affect the Company’s results of operations and cash flows.

FY2025 vs FY2024 in full · All current headings

1. If third-party platforms change their policies in a way that harms our business, including the design and effectiveness of our advertising solutions, our business, financial condition, and results of operations could be adversely affected.
2. Our business is subject to general macroeconomic conditions and a variety of other factors beyond our control that could adversely affect our revenue and results of operations.
3. We face risks related to our strategic transactions, which may not achieve our strategic objectives, may disrupt our operations or result in unexpected liabilities or expenses.

FY2025 vs FY2024 in full · All current headings

1. The market price and volatility of our common stock may be adversely affected by our financial performance, our ability to meet market expectations, and a wide range of external factors outside of our control.
2. Changes to U.S. government funding, staffing, trade, policies, and other federal actions could adversely affect our business operations or those of our tenants and our venture investment portfolio companies.
3. space configurations, and tenant requirements for our laboratory properties in currently unforeseen ways.

FY2025 vs FY2024 in full · All current headings

1. Uncertainties with complex U.S. federal, state and local and foreign procurement laws and regulations of governments could cause us to incur costs, which could have a material adverse effect on our business, financial position, results of operations and cash flows.
2. Fulfilling our debt obligations requires significant cash resources, which may exceed our available cash flow.
3. Our indebtedness contains restrictive covenants that could limit our operational flexibility and adversely affect the value of our common stock.

FY2025 vs FY2024 in full · All current headings

1. Our Commercial Airplanes business depends on our ability to maintain a healthy production system, ensure every airplane in our production system conforms to exacting specifications, achieve planned production rate targets, successfully develop and certify new aircraft or new derivative aircraft, and meet or exceed stringent performance and reliability standards.
2. Our fixed-price contracts subject us to losses when we have cost overruns.
3. The issuance of our common stock upon conversion of our Mandatory convertible preferred stock, and the exchange of the Spirit Exchangeable Notes, as well as any other issuances of our common stock, could dilute the interests of our existing shareholders.

FY2025 vs FY2024 in full · All current headings

1. Changes in interest or foreign exchange rates and/or global markets may impact BlackRock’s AUM, base fees as well as net income and operating cash flows.
2. SEC Rules on Form PF
3. Regulation of US Registered Funds and Investment Advisers

FY2025 vs FY2024 in full · All current headings

1. We may face increased regulatory risks related to our vertical integration strategy.
2. Programs funded in whole or in part by the U.S. federal government are particularly sensitive to reduced government funding and regulatory changes.
3. Our business success and operating results depend in part on effective information technology systems and on continuing to develop and implement improvements in technology, including technology related to artificial intelligence (“AI”). The failure or disruption of our information technology systems or the failure of our information technology infrastructure to support our businesses could adversely affect our reputation, businesses, operating results and cash flows.AI

FY2025 vs FY2024 in full · All current headings

1. The timing and outcome of the Aramids Divestiture is subject to risk and uncertainties.
2. DuPont may not realize the anticipated benefits of current or future share repurchase authorizations and any failure to repurchase the Company’s common stock after DuPont has announced its intention to do so may negatively impact the Company’s stock price.
3. Risks related to recent trade disputes, responsive actions, investigations by foreign governments, regulations and policies could have an adverse impact on our operations and reduce the competitiveness or availability of our products relative to local and global competitors.

FY2025 vs FY2024 in full · All current headings

1. Declines in U.S., global and regional economic conditions adversely affect our results of operations and financial condition.
2. Fluctuations in foreign currency exchange rates impact our results of operations, including our revenues and costs.
3. We face risks from claims, litigation, governmental investigations and other proceedings to our businesses, reputation, results of operation and financial condition.

FY2025 vs FY2024 in full · All current headings

1. Cybersecurity Risks:Cybersecurity
2. We are increasingly integrating artificial intelligence (AI) into our operations, and while these technologies offer operational benefits, they also introduce significant risks that could adversely impact our business and results of operations.AI
3. Rate Regulation, Cost Recovery and Affordability

FY2025 vs FY2024 in full · All current headings

1. We entered into a joint venture, and may in the future enter into additional or modify existing joint ventures, that might restrict our operational and corporate flexibility. In addition, we exercise no control over joint venture partners and it may be difficult or impossible for us to cause these joint ventures or partners to take actions that we believe would be in our or the joint venture's best interests and these joint ventures are subject to many of the same risks to which we are subject.
2. The departure of key management personnel and the failure to attract and retain talent could adversely affect our operations.
3. Our ability to declare and pay dividends, and to repurchase common stock, is subject to limitations.

FY2025 vs FY2024 in full · All current headings

1. Our billings, revenue and free cash flow growth, including our product and service billings and revenue, may slow, and our operating margins may decline, particularly if our billings and revenue do not improve or grow as anticipated, or if customer demand, renewal rates, pricing, competitive dynamics, implementation timing, cost structure, or macroeconomic conditions adversely affect our business, which could negatively impact our financial condition and results of operations.
2. Actual, possible or perceived defects, errors or vulnerabilities, including critical vulnerabilities, in our products or services, the failure of our products or services to detect or prevent a security incident or the misuse of our products could harm our and our customers’ operational results and reputation.
3. We are currently, and may in the future become, involved in litigation that may adversely affect us.

FY2025 vs FY2024 in full · All current headings

1. We may be unable to integrate the business of Worldpay successfully or realize the anticipated benefits of the Worldpay Acquisition, which could adversely affect our business, financial condition, results of operations and cash flows.
2. If our enterprise segment merchants direct significant transaction volume away from us to other providers, it could adversely affect our business, financial condition, results of operations and cash flows.
3. Investor and other stakeholder interest in our sustainability practices, and our disclosed performance and aspirations for these practices, may, from time to time, result in additional considerations or expectations and expose us to risks.

FY2025 vs FY2024 in full · All current headings

1. If we are unable to expand our direct-to-consumer relationships, our business may be harmed.
2. Our reliance on third-party manufacturers presents risks to our business.
3. Public health crises may disrupt our business.

FY2025 vs FY2024 in full · All current headings

1. Our operations could be impaired by a failure in or breach of our information systems or those of third parties on whose systems our business relies.
2. Failure to effectively manage change associated with our technology, resiliency and other initiatives, including with respect to the implementation of a new EHR platform, may adversely affect our business, services and results of operations.
3. Our business and operations are subject to risks related to hurricanes, extreme weather events or other natural disasters.

FY2025 vs FY2024 in full · All current headings

1. We may fail to realize all of the anticipated benefits of the acquisitions of Alliance USAcqCo 2, Inc. ("Ventev"), Nicor, Inc. ("Nicor"), Power Rose Acquisition, Inc. (and together with its subsidiaries, "DMC Power") and Northern Star Holdings, Inc. ("Systems Control") or those benefits may take longer to realize than expected.
2. Evolving international tax frameworks may adversely affect our global tax position.
3. Given the interpretive and evolving nature of tax laws, actual tax payments may differ from those currently recorded.

FY2025 vs FY2024 in full · All current headings

1. We are exposed to AI-related risks and opportunities that if we fail to properly manage, could result in material liabilities, or otherwise materially adversely affect our business, results of operations, and financial condition.AI
2. Our inability to recruit, retain or transition employees could adversely affect our ability to compete and achieve our strategic goals.
3. We could be adversely affected by violations, by us or our counterparties, of U.S. or foreign anti-bribery, international trade, anti-corruption, antitrust or competition laws and regulations, applicable sanctions or employment and human rights or employment regulations.

FY2025 vs FY2024 in full · All current headings

1. Our Insights business depends on renewals of subscription-based services and sales of new subscription-based services for a significant portion of our revenue, and our failure to renew at historical rates or generate new sales of such services will lead to a decrease in our revenues.
2. Our balance sheet includes significant amounts of goodwill and intangible assets. Impairment of a significant portion of these assets would negatively affect our financial results.
3. We may not be able to attract and retain qualified personnel which could jeopardize the quality of our products and services and our future growth plans.

FY2025 vs FY2024 in full · All current headings

1. The planned separation of the Company's Orthopaedics business may not be completed on the terms or timeline currently contemplated, if at all, and may not achieve the expected results
2. The costs to complete the planned separation will be significant. In addition, the Company may be unable to achieve some of the strategic and financial benefits that it expects to achieve from the planned separation of the Company's Orthopaedics business
3. Following the planned separation, the price of shares of the Company's common stock may fluctuate significantly

FY2025 vs FY2024 in full · All current headings

1. The Company’s quarterly results of operations may vary significantly from quarter to quarter making it harder to predict future results.
2. The Company might not be able to engage in certain desirable capital raising or strategic transactions as a result of the Spin-off and may not achieve its intended results.
3. Failure in the information technology systems of the Company or its vendors and other third-party service providers, or newly acquired businesses, or delays or failures in the development and implementation of new systems or updates or enhancements to existing systems, could adversely affect the Company’s business.

FY2025 vs FY2024 in full · All current headings

1. The Company may not be able to procure aircraft in the future in a timely manner or on favorable commercial terms, which could limit the Company’s growth or negatively affect the Company’s cost structure and competitive position.
2. Introducing a new aircraft manufacturer or fleet type could impose significant operational complexities, regulatory requirements, and costs on the Company.
3. The Company is expanding its use of AI and machine-learning. Any failure in the Company’s AI implementation strategy, compliance with regulations, or failure to otherwise manage the risks related to AI technologies effectively could materially adversely affect its operations, reputation, and/or financial position.AI

FY2025 vs FY2024 in full · All current headings

1. We are subject to extensive, complex, challenging, and frequently changing healthcare, environmental, and other laws, and may experience increased costs to distribute controlled substances such as opioids.
2. We might be unable to successfully complete or integrate acquisitions or other strategic transactions, and our investments in businesses may not perform as we expect.
3. Our planned separation of Medical-Surgical Solutions is contingent upon the satisfaction of certain conditions, may not be completed on the currently contemplated terms or timeline, or at all, and, if completed, may not achieve the intended financial and strategic benefits.

FY2026 vs FY2025 in full · All current headings

1. Advances in artificial intelligence could disrupt our business model and materially adversely affect our results of operations and financial condition.AI
2. Expectations, requirements and attention to sustainability matters may have an adverse effect on our business, financial condition and results of operations, and damage our brand and reputation.
3. We are exposed to risks related to our receivables factoring arrangements.

FY2026 vs FY2025 in full · All current headings

1. We use AI in our products and services, and challenges related to the use of AI could subject us to legal liability or additional regulatory oversight, or adversely affect our business, financial condition, results of operations or business reputation.AI
2. If the quality of our products does not meet our customers' expectations or regulatory or industry standards, or our products and services suffer from an actual or perceived systems or service failure, then our results of operations, financial condition, or reputation could be negatively impacted.
3. Evolving and sometimes conflicting expectations from investors, customers, lawmakers, regulators and other stakeholders regarding social and sustainability considerations and disclosures may expose us to potential liabilities, increased costs, reputational harm, increased scrutiny from the investment community or enforcement authorities or otherwise adversely impact our business and results of operations.

FY2025 vs FY2024 in full · All current headings

1. Our loans and investments, including in subordinated debt, expose us to risks associated with debt-oriented real estate investments generally.
2. Our success is dependent on the financial stability of our clients.
3. The bankruptcy or insolvency of a client, borrower or guarantor could result in the termination of the lease agreement, loan agreement, or guarantee, as applicable.

FY2025 vs FY2024 in full · All current headings

1. Failure to adapt to technological developments, including emerging technologies such as generative AI and agentic AI, could adversely affect our competitive position, reputation, client relationships, results of operations and financial condition.AI
2. Our liquidity, long-term financing needs, credit rating and access to capital markets is dependent on our agencies, operating cash flow.
3. Changes in tax rates, tax laws, regulations or interpretations, or adverse outcomes of tax audits or proceedings could materially adversely affect our effective tax rate, results of operations, financial condition and cash flows.

FY2025 vs FY2024 in full · All current headings

1. Failure to achieve and maintain a high level of product and service quality and on-time delivery could damage our reputation with customers and negatively impact our results.
2. We may use artificial intelligence in our business and in our products, and challenges with properly managing its use could result in reputational harm, competitive harm, and legal liability, and adversely affect our results of operations.AI
3. The use by our employees of artificial intelligence tools or technology can adversely impact our business by posing risks to our confidential or proprietary information and could give rise to legal actions or reputational damage, or otherwise adversely affect our business.AI

FY2025 vs FY2024 in full · All current headings

1. Local, state, and federal governments have and may in the future adopt regulations that could adversely impact our operations.
2. If we fail to successfully execute our recent leadership succession, we may struggle to effectively execute our strategic plan.
3. We may record losses as a result of the bankruptcy, insolvency, or other credit failure of the borrowers under our bridge lending financing program. In that case, our revenues and results of operations may be materially and adversely impacted.

FY2025 vs FY2024 in full · All current headings

1. Risk Factors Related to the Current Economic and Geopolitical Environment.
2. Macroeconomic, political, and geopolitical conditions and governmental policies may adversely impact consumer confidence and spending and the businesses of our tenants and could, in turn, adversely impact our business.
3. Changes in interest rates may adversely impact our cost to borrow, real estate valuation, stock price, and ability to raise capital through issuance of debt and equity.Interest rates

FY2025 vs FY2024 in full · All current headings

1. Product reimbursement and coverage policies and practices, pricing regulations and requirements, and our pricing strategy could change due to various factors beyond our control, which may adversely impact our business, prospects, operating results, and financial condition.
2. We face risks associated with tariffs and other trade restrictions, which may have a material adverse impact on our results of operations and financial condition.Tariffs
3. There are inherent risks related to our increasing use of artificial intelligence-based solutions.AI

FY2025 vs FY2024 in full · All current headings

1. Our profitability and market competitiveness may be adversely impacted by changes in trade policies, including tariffs or other factors.Tariffs
2. An inability to successfully execute cost productivity and margin expansion initiatives could negatively impact our business and financial results.
3. Significant investments in the business may not achieve intended returns and could adversely affect our financial performance.

FY2025 vs FY2024 in full · All current headings

1. We rely on outsourced service providers and financial intermediaries to perform key functions, and failure of these entities to perform as expected could result in financial or reputational harm to us or financial harm to our clients.
2. We may suffer financial loss from fraud and financial crime.
3. We intend to offer clients direct access to select digital assets, which exposes us to new and uncertain financial, operational, legal, and regulatory risks that could adversely affect our business and financial results.

FY2025 vs FY2024 in full · All current headings

1. The deployment and use of artificial intelligence ("AI"), machine learning, or other emerging technologies in Solventum’s products and services, including as part of its research and development efforts, or its failure to adapt its products or services to industry trends and developments related to such technologies in a timely manner, or at all, could adversely affect Solventum’s business, financial condition, results of operations and cash flows.AI
2. Solventum may not be able to effectively integrate acquired businesses into its operations or achieve expected cost savings or profitability from its acquisitions.
3. Solventum’s restructuring program may not be successful or Solventum may not fully realize the expected cost savings and/or operating efficiencies from its restructuring initiatives.

FY2025 vs FY2024 in full · All current headings

1. President and Chief Executive Officer transition
2. Dependence on limited facilities for production of our beer brands; impacts from Brewery Projects
3. Indebtedness, credit ratings, interest rate fluctuations, and credit market disruptions or volatilityInterest rates

FY2026 vs FY2025 in full · All current headings

1. Our business transformation initiatives may not achieve their intended objectives, which could adversely affect our competitive position, results of operations, and financial condition.
2. Our Roundel retail media network may not maintain or grow advertising revenue, which could adversely affect our results of operations.
3. Shareholder activism could adversely affect our business, strategic execution, and stock price.

FY2025 vs FY2024 in full · All current headings

1. Our produced water desalination project creates risks related to invested capital, environmental exposure and our reputation.
2. Our Credit Facility may limit our operating flexibility or otherwise adversely affect our business.
3. We may make minority investments, engage in joint ventures or make other strategic alliances with third parties that subject us to risks and uncertainties outside of our control.

FY2025 vs FY2024 in full · All current headings

1. Our future growth and success are dependent upon demand for our electric vehicles and adoption of autonomous driving solutions.
2. Growth of our business is also dependent upon our ability to develop and commercialize Bots, including Optimus, which is in a nascent industry that has yet to develop commercially.
3. There is a risk that the technologies and initiatives associated with the 2025 CEO Performance Award, including the product goals, are misaligned with current or future consumer demand, resulting in our failure to invest in or pursue another opportunity that generates significant financial returns or leads to greater shareholder value.

FY2025 vs FY2024 in full · All current headings

1. We may not pay any dividends on our common stock in the future.
2. The use of AI technology by third-parties, including our vendors, and our use of AI technology, tools, and services could expose us to cybersecurity, operational, intellectual property and regulatory risks that could adversely affect our business, reputation or financial results.AICybersecurity
3. Short sellers have in the past, and may in the future, engage in efforts to lower the market price of our common stock through the dissemination of false or misleading information.

FY2025 vs FY2024 in full · All current headings

1. Larger customers often require terms and conditions that are more favorable to the customer, which could result in downward pricing pressures on our business.
2. The industries and markets in which we operate are highly competitive, and we experience competitive pressures from numerous and varied competitors.
3. The global scope of our business poses specific operational risks and challenges, including those relating to disruptive global events and forces, compliance with laws, and enforcement of consistent company-wide standards and procedures; additional or exacerbated risks may exist in emerging markets.

FY2025 vs FY2024 in full · All current headings

1. Adverse economic factors, including recessions, inflation, periods of high unemployment, the impact of tariffs or lower economic activity could result in the sale of fewer policies than expected or an increase in frequency or severity of claims and premium defaults or both, which, in turn, could affect our growth and profitability.Tariffs
2. Given the inherent uncertainty of models, the usefulness of such models as a tool to evaluate risk is subject to a high degree of uncertainty that could result in actual losses that are materially different than our estimates. A deviation from our loss estimates may adversely impact, perhaps significantly, our financial results.
3. Our employees could take excessive risks, which could negatively affect our financial condition and business.

FY2025 vs FY2024 in full · All current headings

1. Defects, errors, or bugs in our offerings, or in third-party components or software included in our offerings, could result in liability, reputational harm, and significant costs.
2. Large, multi-year, and fixed-price contracts may expose the Company to risks that could lead to losses and adversely affect our business.
3. Our future operating results depend on our ability to purchase a sufficient amount of materials, parts, and components, as well as services and software to meet the demands of customers. We source some of our components from sole-source suppliers. Any disruption to our suppliers or significant increase in the price of supplies, inclusive of transportation costs, or change in customer demand could have a negative impact on our results of operations.

FY2025 vs FY2024 in full · All current headings

1. Recent and dynamic government rule making and policy changes could increase our costs, affect our markets and customers and impact our results of operations.
2. The expectations and requirements of regulators and other key stakeholders, including on corporate governance and sustainability-related matters, continue to evolve and diverge, and our ability to meet these expectations and requirements could impact our risk exposure and financial conditions.

FY2025 vs FY2024 in full · All current headings

1. Pharmacy benefit managers and other supply chain intermediaries exert significant influence over pricing and patient access to our products, which could adversely affect our revenues and results of operations.
2. Trade restrictions, tariffs, and other changes in global trade policy could increase costs, disrupt supply chains, and adversely affect AbbVie’s business and results of operations.Tariffs

FY2025 vs FY2024 in full · All current headings

1. Abbott will incur additional indebtedness in connection with the Exact Sciences acquisition, which could adversely affect its business, including decreasing its business flexibility.
2. Changes in geopolitical and macroeconomic conditions could negatively affect Abbott’s business, financial condition, and results of operations.

FY2025 vs FY2024 in full · All current headings

1. We may not realize the anticipated benefits of acquisitions, investments or other strategic transactions, and they may disrupt our business and adversely affect our business and financial results.
2. If we are unable to develop, manage and maintain our sales channels, including our direct sales force, third-party distributors, and sales partners, or third-party relationships upon which we rely for critical business operations, our revenue and business may be adversely affected.

FY2025 vs FY2024 in full · All current headings

1. Evolving political, market and economic conditions, including increased policy uncertainty and market volatility, may adversely affect our businesses and financial results.
2. We are subject to operating and financial restrictions arising from our indebtedness.

FY2025 vs FY2024 in full · All current headings

1. Negative publicity or our inability or failure to recognize, respond to, and effectively manage the increased impact of social media could affect our business performance.
2. A downgrade or potential downgrade of our credit ratings could adversely impact our borrowing costs and access to credit and capital markets, which could negatively affect our financial condition.

FY2026 vs FY2025 in full · All current headings

1. Our operations are subject to complex and evolving federal, state, and local laws and regulations, the violation of which could expose us to potential liabilities and impose substantial costs and/or restrictions on our operations that could reduce our net income.
2. Emerging issues related to our development, integration and use of artificial intelligence (“AI”) could give rise to legal or regulatory action, damage our reputation or otherwise materially harm our business.AI

FY2025 vs FY2024 in full · All current headings

1. The amount of capital that our insurance subsidiaries have and must hold to maintain their financial strength and credit ratings and meet other requirements can vary significantly from time to time and is sensitive to a number of factors, some of which are outside of our control.
2. Our Bermuda operations are subject to taxation in Bermuda because of the newly effective Bermuda Corporate Income Tax Act.

FY2025 vs FY2024 in full · All current headings

1. The rapidly changing retail landscape and changing consumer preferences may adversely affect our business.
2. We may not realize the benefits that we expect from our Strategic Growth and Productivity Program.

FY2025 vs FY2024 in full · All current headings

1. Our business is subject to the impact of financial markets volatility, which is caused by conditions that are beyond our control.
2. Our use of artificial intelligence in our business may be unsuccessful and may give rise to various risks, which could adversely affect our business, reputation or operating results.AI

FY2025 vs FY2024 in full · All current headings

1. Our financial condition and results of operations have been, and may continue to be, adversely affected by a number of macroeconomic and other factors, many of which are largely outside our control.
2. Failure to meet market expectations for our financial performance or any announced guidance will likely adversely affect the market price and increase the volatility of our stock, and fluctuations in the stock market as a whole may also impact the market price and volatility of our stock.

FY2025 vs FY2024 in full · All current headings

1. We operate our business on a global basis and changes in tariffs and other trade disruptions could adversely impact the demand for our products and our competitive position.Tariffs
2. Deregulation could impair our investments in future products and negatively impact our long-term growth and competitiveness.

FY2025 vs FY2024 in full · All current headings

1. v. W.J. Howey Co.
2. Our bylaws contain an ownership threshold that must be met for a shareholder or shareholders to bring derivative claims against our officers or directors, which could limit a shareholder’s ability to bring such claims. In addition, Texas law does not recognize demand futility and as such may require additional procedural steps for a shareholder to bring a derivative claim.

FY2025 vs FY2024 in full · All current headings

1. Our share repurchase program may not result in benefits to stockholder value.
2. Expectations regarding our efforts and performance relating to corporate responsibility factors have imposed and may impose additional costs on us and expose us to risks.

FY2026 vs FY2024 in full · All current headings

1. If third-party suppliers upon which Matterport relies are not able to fulfill its needs, Matterport’s ability to timely and cost effectively bring its hardware products to market could be affected.
2. We may be subject to legal liability for collecting, displaying, or distributing information, or integrating generative AI Technologies in our products and services.AI

FY2025 vs FY2024 in full · All current headings

1. As artificial intelligence becomes more prevalent in the workplace, it may present new considerations that could affect our business and operating results.AI
2. Volatility in market and economic conditions may impact the accuracy of the various estimates used in the preparation of our financial statements and footnotes to the financial statements.

FY2025 vs FY2024 in full · All current headings

1. Geopolitical events and political tensions contribute to an already complex landscape, and could have a negative effect on our global business operations.
2. The current uncertain economic environment, including challenges related to power and supply chains, could impact our business and the businesses of our customers.

FY2025 vs FY2024 in full · All current headings

1. Entergy Texas Build-to-Suit Lease Arrangement for the Legend Power Station—Entergy Texas, Inc. and Subsidiaries — Refer to Note 8 to the financial statements
2. How the Critical Audit Matter Was Addressed in the Audit

FY2025 vs FY2024 in full · All current headings

1. The current volatile international trade environment as a result of intergovernmental disputes, trade actions, increased tariffs and other geo-political risks may adversely impact our business and operating results.Tariffs
2. We are exposed to risks relating to evaluations of internal control over financial reporting and disclosure controls and procedures.

FY2025 vs FY2024 in full · All current headings

1. The mud removal and other remediation activities, and the phased restart and ramp-up of the Grasberg Block Cave underground mine following the September 2025 mud rush incident may not be achieved as planned which could adversely impact our results of operations and financial condition.
2. South America.

FY2025 vs FY2023 in full · All current headings

1. External pressures beyond our control may increase customer rates and, when combined with state and federal regulatory action to mitigate bill impacts, may impair our ability to earn a fair and equitable return on our investments and execute our strategy.
2. JCP&L may recognize impairments of recorded goodwill, which would result in write-offs of the impaired amounts and could have an adverse effect on its results of operations. (Applies to JCP&L)

FY2025 vs FY2024 in full · All current headings

1. Continuing worldwide political and economic uncertainties may adversely affect our business, financial condition, results of operations, and cash flows.
2. Changes in U.S. foreign relations, in particular foreign trade policies could lead to the imposition of additional trade barriers and tariffs.Tariffs

FY2025 vs FY2024 in full · All current headings

1. Our ability to successfully manage our leadership transition in connection with the completed Separation and attract, develop, and retain senior leaders and other key employees is critical to our success.
2. Our strategy requires us to execute and deliver disciplined capital allocation.

FY2025 vs FY2024 in full · All current headings

1. Our results of operations, revenue, and supply chain could be materially affected as a result of a bankruptcy, insolvency or other credit failures of a significant customer or vendor.
2. The proposed separation of our Automotive and Industrial businesses may not be completed on the terms or timeline currently contemplated, if at all, and there is no guarantee that the separation, if completed, will achieve the intended financial, strategic and operational benefits.

FY2025 vs FY2024 in full · All current headings

1. Disruptions in our customer-facing technology infrastructure could impair our interconnected experience strategy and give rise to negative customer experiences, damage our brand and reputation and adversely impact our sales.
2. Natural disasters, unseasonable, unexpected or extreme weather conditions, as well as other catastrophic or uncharacteristic events, could impact our operations and financial results, seasonal events such as storms may impact sales compared to prior periods, and the potential impacts of catastrophic or uncharacteristic events may lead to changes in demand or availability of products or cause business interruptions.

FY2025 vs FY2024 in full · All current headings

1. We may not always pay dividends on our common stock.
2. There are emerging legal and regulatory risks related to prediction markets that could harm our business.

FY2025 vs FY2024 in full · All current headings

1. Healthcare reform measures could impact the pricing and profitability of pharmaceuticals, and adversely affect the commercial viability of our or our collaborators’ products and drug candidates. If recent proposals for changes to Medicare and Medicaid reimbursement of drug prices are adopted into law, our results of operations and financial condition could be harmed.
2. Changes in government pricing policies, including the enactment of “most favored nation” pricing legislation, could adversely affect our business.

FY2025 vs FY2024 in full · All current headings

1. Environmental events may have an impact on our business.
2. The expectations and requirements of regulators and other key stakeholders on sustainability-related matters, continue to evolve and diverge, and our ability to meet these expectations and requirements could increase our costs, and inaction could harm our reputation and adversely impact our financial results.

FY2025 vs FY2024 in full · All current headings

1. Our selective pursuit of strategic transactions may be limited by market conditions, which could impact our ability to complement our organic growth.
2. Any transactions we pursue subject us to operational, financial, and integration risks.

FY2026 vs FY2025 in full · All current headings

1. A loss of customer deposits or an adverse change in deposit mix could increase our funding costs and/or impair our liquidity.
2. Our development and use of AI, including through third parties, exposes us to inherent risks that may adversely impact KeyCorp.AI

FY2025 vs FY2024 in full · All current headings

1. New or amended laws, policies, regulations and oversight requirements, and compliance complexity resulting from disparities in requirements imposed by federal, state, and local authorities, could adversely impact our earnings, cash flows, and operations.
2. Changes in U.S. trade policy and the impact of tariffs may have a material adverse effect on our business and results of operations.Tariffs

FY2025 vs FY2024 in full · All current headings

1. We could be hurt if land banks are not able to raise investor funds needed to finance land acquisition to meet out demand.
2. We may lose access to the land or homesites held by land banks in the event of lender foreclosures or bankruptcy proceedings.

FY2025 vs FY2024 in full · All current headings

1. Information Security and Operational Resilience
2. Information security incidents or account data compromise events could disrupt our business, damage our reputation, increase our costs and cause losses.

FY2025 vs FY2024 in full · All current headings

1. In addition to the effects of ongoing macroeconomic volatility and uncertainty, including current and potential trade and tariff actions affecting the countries where we operate and resulting impacts on our business and operations discussed in Item 7 of this Form 10-K and in the risk factors below, additional or unforeseen effects from these actions may give rise to or amplify many of these risks discussed below.Tariffs
2. Changes in weather patterns around the globe, including as a result of climate change, expose us to physical and transition risks.

FY2025 vs FY2024 in full · All current headings

1. Shareholder activism could adversely affect our business, financial condition, results of operations and share price.
2. We operate in a highly competitive vacation market, which could adversely affect our results.

FY2025 vs FY2024 in full · All current headings

1. Changes to trade policies, tariffs, and other import/export regulations of the U.S. and other nations may create uncertainty in the global market and have a material adverse effect on our business, financial condition, and results of operations.Tariffs
2. We may be incorporating artificial intelligence technologies into our products, services and processes. These technologies may present business, compliance and reputational risks.AI

FY2025 vs FY2024 in full · All current headings

1. The WBD transaction may not be completed on the currently contemplated timeline or terms, or at all.
2. The WBD transaction may cause our financial results to differ from expectations, we may not achieve the anticipated benefits of the WBD transaction, and the WBD transaction may disrupt our current plans or operations.

FY2025 vs FY2024 in full · All current headings

1. Changes in international trade policies, including with respect to tariffs, may continue to adversely impact our customers, our industry and our business.Tariffs
2. The engines in our newer tractors are subject to emissions-control regulations, and ongoing regulatory uncertainty regarding zero-emission vehicle mandates could substantially increase operating expenses and materially adversely impact our business.

FY2025 vs FY2024 in full · All current headings

1. Significant resource adequacy challenges present affordability and reliability concerns that could cause policymakers to implement responsive measures that could have a material, adverse impact on our business, strategy, growth rates, cash flows, results of operation, and financial condition and increase regulatory uncertainty for utility investment initiatives and programs.
2. Generation activities at the Peach Bottom plants present risks similar to those to which nuclear generation plants that we operate are subject.

FY2025 vs FY2024 in full · All current headings

1. The business and capital investment plans of PPL depend, in part, on the continued growth and viability of data centers and large load customers in its service territories.
2. Artificial Intelligence (AI) is an evolving area of technology that has the potential to affect multiple aspects of our business operations, grid management, critical infrastructure management, customer interactions, cybersecurity posture, and decision support processes.AICybersecurity

FY2025 vs FY2021 in full · All current headings

1. Evolving laws, regulations and stakeholder expectations with respect to environmental, social and governance matters could harm our reputation and adversely affect our business.
2. There can be no assurance that we will continue to repurchase stock or declare cash dividends, and stock repurchases or dividends could increase the volatility of our stock price and could diminish our cash reserves.

FY2025 vs FY2024 in full · All current headings

1. There can be no assurance that we will declare or pay dividends in the future or that we will repurchase shares pursuant to our share repurchase program consistent with historical amounts or at all.
2. If we are unable to keep pace with developments, design, and implementation in technology, our operations or competitive position could become impaired. Our use of emerging technologies, including artificial intelligence, may present business, compliance and reputational risks.AI

FY2025 vs FY2024 in full · All current headings

1. The development and use of AI presents risks and challenges that may adversely impact our business.AI
2. Industry competition, including competition from decentralized finance platforms, cryptocurrencies and blockchain technologies, could disrupt our business model and adversely affect our revenues, market share or liquidity.

FY2025 vs FY2024 in full · All current headings

1. We are dependent on the performance of licensed and company-owned international markets to achieve our growth targets.
2. We are subject to risks from changes to the trade policies and tariff and import/export regulations by the U.S. and other foreign governments.Tariffs

FY2025 vs FY2024 in full · All current headings

1. We may experience difficulties in the launch or production ramp-up of new products which may adversely affect our business.
2. Our aluminum operations depend on a core group of significant customers.

FY2025 vs FY2024 in full · All current headings

1. We may fail to realize the anticipated benefits of the Endeavor Asset Acquisition.
2. The terms of our Transition Services Agreement with the EGH Parties may be more favorable than TKO will be able to obtain from an unaffiliated third party. After the Transition Services Agreement expires or is terminated, TKO may be unable to replace the services the EGH Parties provide in a timely manner or on comparable terms.

FY2025 vs FY2024 in full · All current headings

1. The successful implementation of the Company’s 2028 growth strategy, Amplify, is key to the long-term success of our business.
2. The development, use, or misuse of AI technologies, and the failure to effectively adopt such technologies, may not be successful and could negatively impact our business.AI

FY2026 vs FY2025 in full · All current headings

1. Our business is highly competitive, which may affect our ability to hire, train or retain officers and employees needed to manage and operate our business.
2. Our and our customers’ operations are subject to a number of risks related to the potential threat of climate change, including evolving regulations for methane and other GHG emissions from the oil and gas sector, that could result in increased operating costs, limit the areas in which oil and natural gas production may occur, reduce demand for the products and services we provide, and reduce our or our customers’ ability to access capital.

FY2025 vs FY2024 in full · All current headings