Risk factors

California Water Service Group updated risk factors to highlight new wholesale water costs, climate uncertainties, and a pending February 2026 acquisition in Nevada and Oregon.

Dana added AI operational and privacy risks to production and administrative functions. Cost reduction figures were updated, targeting $325 in savings through 2026. Consolidated debt obligations dropped from $2,630 to $1,315. Geographic footprint narrowed from 30 to 24 countries, with Argentine net asset exposure rising to $59.

Compliance burdens grow as new marketplace regulations like the INFORM Consumers Act and EU Digital Services Act take effect.

Disclosures now reflect executive changes, notably CEO Tim Go taking a voluntary leave of absence.

Increased debt figures from $2.8B to $3.3B reported in 2025. Pipeline cybersecurity rules added as new operational cost. Small refinery exemptions and RIN costs remain volatile burdens.

Delek Logistics Partners added specific climate and fracking regulations.

New risks emphasize tariff exposure, AI-related data and accuracy risks, customer overstock returns, and debt-service/refinancing pressure.

Concentration of climate and catastrophic event risks in major metropolitan markets generating 71% of total revenues in 2025. Introduction of specific risks regarding artificial intelligence adoption, labor shortages, and unionized hotel workers. Approximately 70% of outstanding debt holds unhedged variable interest rates as of December 31, 2025.

Leonardo DRS faces heightened risks around U.S. government defense spending, fixed-price contract cost overruns, and international geopolitical conflicts.

Duolingo highlights new risks around profitability maintenance, international data security breaches, and potential share dilution from stock options. Tax liabilities and complex multi-jurisdictional regulations are emphasized more strongly.

Emergent faces ongoing asset impairment risks, increased competition for products like NARCAN Nasal Spray, and execution challenges from its multi-year strategic divestiture and turnaround plan.

Ecovyst faces new patent validity challenges and risks regarding artificial intelligence adoption. Workforce size shrank to 617 employees with 37% unionized. Manufacturing sites dropped from ten to nine.