AP — what changed in the latest 10-Q
A section-by-section comparison of AP's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-08-11 vs the prior 10-Q · 2026-05-12
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +109 | −87 | ~64 | 109 |
| Market risk (Item 3) | Text added/removed | +109 | −87 | ~64 | 108 |
| Controls & procedures | Text added/removed | +109 | −87 | ~64 | 108 |
| Legal proceedings | Text added/removed | +109 | −87 | ~64 | 108 |
| Risk factors | Some risk factors updated | +109 | −87 | ~64 | 108 |
| Other information | Text added/removed | +109 | −87 | ~64 | 108 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-08-11
The Estimated Recovery is recorded as a current asset on the condensed consolidated balance sheets as the Corporation expects to receive the balance within the next 12 months. However, there can be no assurance the balance will be collected within the next 12 months given the inherent risks associat…
The Corporation will continue to evaluate the collectability of the Estimated Recovery and will adjust the Estimated Recovery based on facts and circumstances at each reporting date. If it is determined the Estimated Recovery is expected to be lower than currently estimated, then the Estimated Recov…
For the three and six months ended June 30, 2025, the Corporation recognized estimated charges approximating $6,750, primarily for employee-related costs payable to the employees of UES-UK under existing benefit plans and accelerated depreciation from reducing the estimated remaining useful lives an…
The Exit Charge included in the condensed consolidated statement of operations for the three and six months ended June 30, 2025 is comprised of the following:
Costs of products sold (excluding depreciation and amortization)
Text removed vs the prior filing · source: 10-Q · 2026-05-12
The Corporation will continue to evaluate the collectability of the Estimated Recovery and will adjust the Estimated Recovery based on facts and circumstances at each reporting date. If it is determined the Estimated Recovery is expected to be lower than currently estimated, then the Estimated Recov…
At March 31, 2026 and December 31, 2025, substantially all inventories were valued using the first-in, first-out method. Inventories were comprised of the following:
Depreciation expense approximated $4,200 and $4,550, including depreciation of assets under finance leases of approximately $94 and $77, for the three months ended March 31, 2026 and 2025, respectively.
current liability until the amount is either repaid, as customers remit payments, or, if elected by the Corporation, refinanced as a longer-term loan under the revolving credit facility. The swing loan balance outstanding was $4,260 and $1,219 at March 31, 2026 and December 31, 2025, respectively.
On June 25, 2025, the Corporation entered into the Credit Agreement, amending its previous revolving credit and security agreement. The Credit Agreement provides for a $100,000 senior secured asset-based revolving credit facility (the “Revolving Credit Facility”) and $13,500 under the Equipment Term…
Market risk (Item 3)
Text added vs the prior filing · source: 10-Q · 2026-08-11
The Estimated Recovery is recorded as a current asset on the condensed consolidated balance sheets as the Corporation expects to receive the balance within the next 12 months. However, there can be no assurance the balance will be collected within the next 12 months given the inherent risks associat…
The Corporation will continue to evaluate the collectability of the Estimated Recovery and will adjust the Estimated Recovery based on facts and circumstances at each reporting date. If it is determined the Estimated Recovery is expected to be lower than currently estimated, then the Estimated Recov…
For the three and six months ended June 30, 2025, the Corporation recognized estimated charges approximating $6,750, primarily for employee-related costs payable to the employees of UES-UK under existing benefit plans and accelerated depreciation from reducing the estimated remaining useful lives an…
The Exit Charge included in the condensed consolidated statement of operations for the three and six months ended June 30, 2025 is comprised of the following:
Costs of products sold (excluding depreciation and amortization)
Text removed vs the prior filing · source: 10-Q · 2026-05-12
The Corporation will continue to evaluate the collectability of the Estimated Recovery and will adjust the Estimated Recovery based on facts and circumstances at each reporting date. If it is determined the Estimated Recovery is expected to be lower than currently estimated, then the Estimated Recov…
At March 31, 2026 and December 31, 2025, substantially all inventories were valued using the first-in, first-out method. Inventories were comprised of the following:
Depreciation expense approximated $4,200 and $4,550, including depreciation of assets under finance leases of approximately $94 and $77, for the three months ended March 31, 2026 and 2025, respectively.
current liability until the amount is either repaid, as customers remit payments, or, if elected by the Corporation, refinanced as a longer-term loan under the revolving credit facility. The swing loan balance outstanding was $4,260 and $1,219 at March 31, 2026 and December 31, 2025, respectively.
On June 25, 2025, the Corporation entered into the Credit Agreement, amending its previous revolving credit and security agreement. The Credit Agreement provides for a $100,000 senior secured asset-based revolving credit facility (the “Revolving Credit Facility”) and $13,500 under the Equipment Term…
Controls & procedures
Text added vs the prior filing · source: 10-Q · 2026-08-11
The Estimated Recovery is recorded as a current asset on the condensed consolidated balance sheets as the Corporation expects to receive the balance within the next 12 months. However, there can be no assurance the balance will be collected within the next 12 months given the inherent risks associat…
The Corporation will continue to evaluate the collectability of the Estimated Recovery and will adjust the Estimated Recovery based on facts and circumstances at each reporting date. If it is determined the Estimated Recovery is expected to be lower than currently estimated, then the Estimated Recov…
For the three and six months ended June 30, 2025, the Corporation recognized estimated charges approximating $6,750, primarily for employee-related costs payable to the employees of UES-UK under existing benefit plans and accelerated depreciation from reducing the estimated remaining useful lives an…
The Exit Charge included in the condensed consolidated statement of operations for the three and six months ended June 30, 2025 is comprised of the following:
Costs of products sold (excluding depreciation and amortization)
Text removed vs the prior filing · source: 10-Q · 2026-05-12
The Corporation will continue to evaluate the collectability of the Estimated Recovery and will adjust the Estimated Recovery based on facts and circumstances at each reporting date. If it is determined the Estimated Recovery is expected to be lower than currently estimated, then the Estimated Recov…
At March 31, 2026 and December 31, 2025, substantially all inventories were valued using the first-in, first-out method. Inventories were comprised of the following:
Depreciation expense approximated $4,200 and $4,550, including depreciation of assets under finance leases of approximately $94 and $77, for the three months ended March 31, 2026 and 2025, respectively.
current liability until the amount is either repaid, as customers remit payments, or, if elected by the Corporation, refinanced as a longer-term loan under the revolving credit facility. The swing loan balance outstanding was $4,260 and $1,219 at March 31, 2026 and December 31, 2025, respectively.
On June 25, 2025, the Corporation entered into the Credit Agreement, amending its previous revolving credit and security agreement. The Credit Agreement provides for a $100,000 senior secured asset-based revolving credit facility (the “Revolving Credit Facility”) and $13,500 under the Equipment Term…
Legal proceedings
Text added vs the prior filing · source: 10-Q · 2026-08-11
The Estimated Recovery is recorded as a current asset on the condensed consolidated balance sheets as the Corporation expects to receive the balance within the next 12 months. However, there can be no assurance the balance will be collected within the next 12 months given the inherent risks associat…
The Corporation will continue to evaluate the collectability of the Estimated Recovery and will adjust the Estimated Recovery based on facts and circumstances at each reporting date. If it is determined the Estimated Recovery is expected to be lower than currently estimated, then the Estimated Recov…
For the three and six months ended June 30, 2025, the Corporation recognized estimated charges approximating $6,750, primarily for employee-related costs payable to the employees of UES-UK under existing benefit plans and accelerated depreciation from reducing the estimated remaining useful lives an…
The Exit Charge included in the condensed consolidated statement of operations for the three and six months ended June 30, 2025 is comprised of the following:
Costs of products sold (excluding depreciation and amortization)
Text removed vs the prior filing · source: 10-Q · 2026-05-12
The Corporation will continue to evaluate the collectability of the Estimated Recovery and will adjust the Estimated Recovery based on facts and circumstances at each reporting date. If it is determined the Estimated Recovery is expected to be lower than currently estimated, then the Estimated Recov…
At March 31, 2026 and December 31, 2025, substantially all inventories were valued using the first-in, first-out method. Inventories were comprised of the following:
Depreciation expense approximated $4,200 and $4,550, including depreciation of assets under finance leases of approximately $94 and $77, for the three months ended March 31, 2026 and 2025, respectively.
current liability until the amount is either repaid, as customers remit payments, or, if elected by the Corporation, refinanced as a longer-term loan under the revolving credit facility. The swing loan balance outstanding was $4,260 and $1,219 at March 31, 2026 and December 31, 2025, respectively.
On June 25, 2025, the Corporation entered into the Credit Agreement, amending its previous revolving credit and security agreement. The Credit Agreement provides for a $100,000 senior secured asset-based revolving credit facility (the “Revolving Credit Facility”) and $13,500 under the Equipment Term…
Risk factors
Text added vs the prior filing · source: 10-Q · 2026-08-11
The Estimated Recovery is recorded as a current asset on the condensed consolidated balance sheets as the Corporation expects to receive the balance within the next 12 months. However, there can be no assurance the balance will be collected within the next 12 months given the inherent risks associat…
The Corporation will continue to evaluate the collectability of the Estimated Recovery and will adjust the Estimated Recovery based on facts and circumstances at each reporting date. If it is determined the Estimated Recovery is expected to be lower than currently estimated, then the Estimated Recov…
For the three and six months ended June 30, 2025, the Corporation recognized estimated charges approximating $6,750, primarily for employee-related costs payable to the employees of UES-UK under existing benefit plans and accelerated depreciation from reducing the estimated remaining useful lives an…
The Exit Charge included in the condensed consolidated statement of operations for the three and six months ended June 30, 2025 is comprised of the following:
Costs of products sold (excluding depreciation and amortization)
Text removed vs the prior filing · source: 10-Q · 2026-05-12
The Corporation will continue to evaluate the collectability of the Estimated Recovery and will adjust the Estimated Recovery based on facts and circumstances at each reporting date. If it is determined the Estimated Recovery is expected to be lower than currently estimated, then the Estimated Recov…
At March 31, 2026 and December 31, 2025, substantially all inventories were valued using the first-in, first-out method. Inventories were comprised of the following:
Depreciation expense approximated $4,200 and $4,550, including depreciation of assets under finance leases of approximately $94 and $77, for the three months ended March 31, 2026 and 2025, respectively.
current liability until the amount is either repaid, as customers remit payments, or, if elected by the Corporation, refinanced as a longer-term loan under the revolving credit facility. The swing loan balance outstanding was $4,260 and $1,219 at March 31, 2026 and December 31, 2025, respectively.
On June 25, 2025, the Corporation entered into the Credit Agreement, amending its previous revolving credit and security agreement. The Credit Agreement provides for a $100,000 senior secured asset-based revolving credit facility (the “Revolving Credit Facility”) and $13,500 under the Equipment Term…
Other information
Text added vs the prior filing · source: 10-Q · 2026-08-11
The Estimated Recovery is recorded as a current asset on the condensed consolidated balance sheets as the Corporation expects to receive the balance within the next 12 months. However, there can be no assurance the balance will be collected within the next 12 months given the inherent risks associat…
The Corporation will continue to evaluate the collectability of the Estimated Recovery and will adjust the Estimated Recovery based on facts and circumstances at each reporting date. If it is determined the Estimated Recovery is expected to be lower than currently estimated, then the Estimated Recov…
For the three and six months ended June 30, 2025, the Corporation recognized estimated charges approximating $6,750, primarily for employee-related costs payable to the employees of UES-UK under existing benefit plans and accelerated depreciation from reducing the estimated remaining useful lives an…
The Exit Charge included in the condensed consolidated statement of operations for the three and six months ended June 30, 2025 is comprised of the following:
Costs of products sold (excluding depreciation and amortization)
Text removed vs the prior filing · source: 10-Q · 2026-05-12
The Corporation will continue to evaluate the collectability of the Estimated Recovery and will adjust the Estimated Recovery based on facts and circumstances at each reporting date. If it is determined the Estimated Recovery is expected to be lower than currently estimated, then the Estimated Recov…
At March 31, 2026 and December 31, 2025, substantially all inventories were valued using the first-in, first-out method. Inventories were comprised of the following:
Depreciation expense approximated $4,200 and $4,550, including depreciation of assets under finance leases of approximately $94 and $77, for the three months ended March 31, 2026 and 2025, respectively.
current liability until the amount is either repaid, as customers remit payments, or, if elected by the Corporation, refinanced as a longer-term loan under the revolving credit facility. The swing loan balance outstanding was $4,260 and $1,219 at March 31, 2026 and December 31, 2025, respectively.
On June 25, 2025, the Corporation entered into the Credit Agreement, amending its previous revolving credit and security agreement. The Credit Agreement provides for a $100,000 senior secured asset-based revolving credit facility (the “Revolving Credit Facility”) and $13,500 under the Equipment Term…
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice