36 added · 24 removed between the two most recent 10-Ks. The risks a company starts — or stops — disclosing are often the story.
Newly disclosed
New laws, regulations or procurement requirements or changes to current ones (including, for example, regulations related to cybersecurity and the recently issued Executive Order relating to underperformance of U.S. defense contracts, investment in defense production capacity and possible limitations on dividends and share buybacks) can significantly increase our costs, thereby reducing our profitability or otherwise adversely impacting our results of operations, financial condition, or shareholder returns.
Artificial intelligence technologies have developed rapidly and our business may be adversely affected if we cannot successfully 11 Table o f Contents integrate the technology into our internal business processes and product and service offerings in a timely, cost-effective, compliant and responsible manner.
The termination of the agreement or renegotiation of the agreement with terms less favorable to us could result in the loss or reduction of preferential tariff treatment which could increase our costs and create compliance and supply-chain disruption risks.
With the exception of a strike at Textron Aviation which occurred on September 21, 2024 and ended on October 20, 2024, we have been successful in negotiating renewals to expiring agreements without any material disruption of operating activities.
Atherton joined the Company in 2007 and has held positions of increasing responsibility, most recently as the President and CEO of Bell, a position to which she was appointed in April 2023 after joining Bell as Chief Operating Officer in January 2023.
In 2026, the USMCA is subject to a mandatory six-year joint review, during which the United States, Canada, and Mexico will assess whether the agreement continues to serve their respective economic and strategic interests.
In particular, recent changes to global tariff policies have created significant uncertainty with respect to trade policies, treaties and tariffs.
Government’s ability to fund its activities, pay its obligations, and/or conduct government functions necessary for the certification of aircraft and aircraft parts and other activities of our businesses; • Changing priorities or reductions in the U.S.
However, contractors are not automatically entitled to reimbursement for capital investments made for production facilities and other resources necessary to accommodate a large program such as the MV-75 or for the anticipated profit that would have been earned had the contract been completed.
Our aircraft products, subassemblies, parts and components manufactured in Canada and Mexico are largely qualified under the rules of the United States-Mexico-Canada Agreement (USMCA) for preferential treatment on tariffs imposed by the U.S. on imports from Canada and Mexico.
In addition, the amount of income taxes we pay is subject to audits in various jurisdictions, and a material assessment by a tax authority could affect our profitability. 14 Table o f Contents Risks Related to Regulatory, Legal and Other Matters We are subject to increasing compliance risks that could adversely affect our operating results.
Also, changes in pension legislation and regulations could increase the cost associated with our defined benefit pension plans. 16 Table o f Contents Our business could be adversely affected by strikes or work stoppages and other labor issues.
No longer disclosed
New laws, regulations or procurement requirements or changes to current ones (including, for example, regulations related to cybersecurity) can significantly increase our costs, reducing our profitability.
Historically, we have been successful in negotiating renewals to expiring agreements without any material disruption of operating activities; however, on September 21, 2024, Textron Aviation’s largest union rejected a proposed new contract and initiated a strike.
Connor joined the Corporate Finance Department of Goldman, Sachs & Co. in 1986 and became a Vice President in 1990 and a Managing Director in 1996. 7 Table of Contents On October 23, 2024, we announced that Mr.
Prior to that position, he served as Chief Operating Officer of Telecom, Technology and Media Investment Banking at Goldman, Sachs & Co. from 1998 to 2003.
On October 20, 2024, Textron Aviation and the union reached an agreement and a new five-year labor contract was ratified.
Additionally, laws regulating certain consumer products exist in some states, as well as in other countries in which we sell our products, and more restrictive laws and regulations could be adopted in the future. 14 Table of Contents Increased regulation and stakeholder expectations related to global climate change could negatively affect our operating results.
Additionally, our intellectual property could be at risk due to cybersecurity threats. 15 Table of Contents Risks Related to Human Capital Our success is highly dependent on our ability to hire, train and retain a qualified workforce.
The strike impacted approximately 5,000 of Textron Aviation’s employees at its manufacturing, parts and distribution and service center facilities in Wichita, Kansas.
Connor joined Textron in August 2009 as Executive Vice President and Chief Financial Officer.
Connor was head of Telecom Investment Banking at Goldman, Sachs & Co. from 2003 to 2008.
GE’s Aviation business unit is a leading maker of commercial and military jet engines and components, as well as integrated digital, electric power and mechanical systems for aircraft.
In addition, the amount of income taxes we pay is subject to audits in various jurisdictions, and a material assessment by a tax authority could affect our profitability.