TNC — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-05-05

• As a global company, we are exposed to risks and uncertainties arising from macroeconomic, geopolitical, and regulatory conditions, including inflationary pressures, interest rate volatility, foreign currency fluctuations, changes in global capital markets, and evolving international trade and tarif…

• During the first quarter of 2026, macroeconomic conditions were affected by escalating geopolitical conflict involving Iran and heightened tensions in the Middle East, which disrupted global energy markets and transportation routes. As a result, global energy, fuel, and logistics costs increased, co…

• We continue to implement cost management initiatives to mitigate these impacts and are actively monitoring supply chain, sourcing, and input cost trends, while continuing to evaluate the evolving macroeconomic environment and its potential impact on our business, financial condition, and results of …

• As described in Part I, Item 1A - Risk Factors in the annual report on Form 10-K for the fiscal year ended December 31, 2025, we may encounter financial difficulties if the United States or other global economies experience an additional or continued long-term economic downturn as our product sales …

• On February 20, 2026, the United States Supreme Court issued a ruling striking down certain tariffs previously imposed under the International Emergency Economic Powers Act (IEEPA). The availability, timing, and amount

Text removed vs the prior filing · source: 10-Q · 2025-11-04

• As a company with a global presence, we are subject to risks and uncertainties caused by significant events with macroeconomic impacts, including, but not limited to, persistent geopolitical tensions, elevated interest rates, monetary policy changes, and foreign currency fluctuations.

• The global business environment remains volatile and is currently being shaped by ongoing uncertainties, including evolving trade policy dynamics. These trade dynamics are also contributing to competitive shifts within the market. Previously implemented U.S. tariffs and related actions have begun to…

• Demand trends across our key markets remain mixed. In China, while some targeted stimulus measures have been introduced, the overall economic recovery remains uneven, with market saturation continuing to impact product sales and intensify pricing competition. In other regions like Mexico, elevated i…

• To manage these challenges, we are focused on cost control, operational improvements, and diversifying sourcing. We are taking proactive pricing actions alongside supply chain initiatives to mitigate the impact of tariffs and other inflationary pressures. While some margin pressure may persist as th…

• As described in Part I, Item 1A - Risk Factors in the annual report on Form 10-K for the fiscal year ended December 31, 2024, we may encounter financial difficulties if the United States or other global economies experience an additional or continued long-term economic downturn as our product sales …

Text added vs the prior filing · source: 10-Q · 2026-05-05

• There were no changes in our internal control over financial reporting during the fiscal quarter ended March 31, 2026 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

Text removed vs the prior filing · source: 10-Q · 2025-11-04

• During 2023, we began a multi-year implementation of our new global ERP system, designed to modernize our operating and transactional financial systems.

• In the third quarter of 2025, we completed the initial go-live phase of the ERP system in our APAC region. As part of this deployment, we modified certain existing internal controls over financial reporting and implemented new controls and procedures to reflect changes in our financial reporting pro…

• While we expect the ERP system to enhance our internal control environment by automating manual processes and standardizing business and reporting practices across the organization, management continues to evaluate and monitor the design and operating effectiveness of internal controls as each regio…

• Except for the changes described above, there were no other changes in our internal control over financial reporting during the fiscal quarter ended September 30, 2025 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

Text added vs the prior filing · source: 10-Q · 2026-05-05

• On March 3, 2026, Donal L. Mulligan, a member of the Board of Directors, terminated a Rule 10b5-1 trading arrangement that had been adopted on March 6, 2024 and provided for the sale of up to 3,538 shares of the Company's common stock until April 28, 2026.

• During the three months ended March 31, 2026, no other director or officer of the Company adopted, modified or terminated a "Rule 10b5-1 trading arrangement" or "non-Rule 10b5-1 trading arrangement," as each term is defined in Item 408(a) of Regulation S-K.

Text removed vs the prior filing · source: 10-Q · 2025-11-04

• During the three months ended September 30, 2025, no director or officer of the Company adopted, modified or terminated a "Rule 10b5-1 trading arrangement" or "non-Rule 10b5-1 trading arrangement," as each term is defined in Item 408(a) of Regulation S-K.