Content analysis
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Legalese | ||
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H.S. sophomore Avg
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New words:
Assuming, Berger, Braca, Carlisle, Chancery, Circuit, complaint, concealment, County, declaration, Del, Division, DuPage, fraudulent, holdback, Indenture, Issuer, misrepresent, misrepresentation, negligent, observing, original, Paul, redeem, rescind, Revocable, scheduled, Shareholder, sought, Trust, Trustee, unfavorably, violation
Removed:
Africa, amortizable, discipline, East, Europe, Middle, reaching, release, significantly
Financial report summary
?Risks
- The announcement and pendency of our proposed acquisition by affiliates of Apollo and Platinum Falcon could adversely impact our business, financial condition, and results of operations.
- The completion of the Merger is subject to certain closing conditions and the failure to consummate the Merger within the expected timeframe or at all could adversely impact our business, financial condition, and results of operations.
- Lawsuits may be filed against us or our Board of Directors challenging the transactions contemplated by the Merger Agreement or the Merger, which could prevent or delay the completion of the Merger or result in the payment of damages.
Management Discussion
- Net sales increased $1,939.8 million, or 20.3%, for the year ended December 31, 2022. On a constant currency basis, net sales increased by $2,302.2 million, or 24.1%. The increase was primarily due to our pricing discipline in inflationary markets and market share gains. Refer to the “Analysis of Segment Results” for additional information.
- Gross profit (exclusive of depreciation) increased $378.0 million, or 15.8%, to $2,771.2 million for the year ended December 31, 2022. On a constant currency basis, gross profit (exclusive of depreciation) increased $459.2 million or 19.2%. The increase in gross profit (exclusive of depreciation) was primarily attributable to our pricing discipline in inflationary markets, operational execution and market share gains, partially offset by higher input cost inflation. Gross margin decreased from 25.1% for the year ended December 31, 2021 to 24.1% for the year ended December 31, 2022. Refer to the “Analysis of Segment Results” and “Non-GAAP Financial Measures” for additional information.
- Outbound freight and handling expenses increased $73.1 million, or 18.1%, for the year ended December 31, 2022. On a constant currency basis, outbound freight and handling expenses increased $83.1 million, or 20.6%. Refer to the “Analysis of Segment Results” for additional information.