Content analysis
?Positive | ||
Negative | ||
Uncertain | ||
Constraining | ||
Legalese | ||
Litigous | ||
Readability |
H.S. sophomore Avg
|
New words:
apply, approaching, bear, calculation, CFO, challenging, clearing, closer, composition, damage, desired, Digital, downturn, entry, exceeding, FASB, geopolitical, incurrence, LatAm, Latin, metric, moved, notably, notice, notified, Notwithstanding, portfolio, preliminarily, preliminary, principle, reached, reconciling, refundable, registration, relief, Remittitur, residential, resolve, retrospective, scrap, stable, stayed, test, threshold, title, triennial, Unobservable, unused, usage, voluntarily, Washington
Removed:
accelerating, accurate, acquired, acquiree, acquisition, actively, adjustment, alleviate, allocation, answer, assumed, attract, billion, binding, blueprint, bridge, broader, CAMT, ceased, chain, Closure, combination, committed, compete, concluding, conform, Consideration, continued, contracted, contractual, contractually, cyclical, data, dated, deductible, deliver, der, derivative, develop, developed, difficult, discount, discovery, discrete, distribution, domestically, drilling, eased, easing, effort, employ, enable, enacted, enhanced, Enid, excellence, excise, execute, executing, exited, expansion, extend, filing, flexible, fluctuate, fluctuated, focused, foundation, fulfillment, funded, funding, gas, gasoline, generate, government, Group, growth, hardware, health, highly, historically, hosted, identifying, IIJA, implement, improved, increasing, independently, initial, initiated, integrated, integration, intellectual, intended, intent, internationally, IRA, Jaco, launched, leader, Leadership, legislation, life, loan, location, manage, marketed, marketing, median, Merwe, methodology, minimize, mitigating, model, modify, natural, negative, negatively, nominal, observed, obsolete, obtaining, offered, opposed, outsource, pandemic, parking, pavement, personnel, plant, positive, predict, present, pressuring, privately, proactively, produce, productivity, Proforma, project, proportion, prototype, public, realized, receipt, received, recently, recessionary, reclaimed, reclassified, recognize, recognized, recognizing, recruitment, Reduction, relation, reorganization, replaced, replacement, responding, retain, roadway, routinely, sector, select, sell, sensitive, separately, significantly, slight, specifically, stabilizing, street, strive, subsidy, substantially, succeeded, tangible, technique, tenured, tight, turnover, utilization, van, varying, vendor, viewed, workload, worldwide
Financial report summary
?Management Discussion
- We are undergoing a multi-year phased implementation of a standardized enterprise resource planning ("ERP") system across our global organization, which will replace much of our existing disparate core financial systems. The upgraded ERP will initially convert our internal operations, manufacturing, finance, human capital resources management and customer relationship systems to cloud-based platforms. This new ERP system will provide for standardized processes and integrated technology solutions that enable us to better leverage automation and process efficiency. An implementation of this scale is a major financial undertaking and requires substantial time and attention of management and key employees. We materially completed the ERP global design in 2022, launched the human capital resources module in our locations in the United States in January 2023 and converted the operations of one manufacturing site along with Corporate during the second quarter of 2023 to set the foundation before accelerating the implementation at additional sites in 2024 and 2025. We anticipate incurring total costs associated with the ERP implementation in the range of $125 to $150 million, with an estimated $25 to $30 million incurred per year which began in 2022.