Risk factors

A new internal-controls risk warns that reporting failures, fraud, or Section 404 noncompliance could undermine investor confidence.

Newly disclosed 30% non-operating equity stake in Türkiye’s Hod Maden project adds development and joint-arrangement risks while conversion to a stream or royalty may not occur.

Paramount and Crestline acquisitions add office-property, integration, lease-renewal and undisclosed-liability risks, concentrated in New York City and San Francisco.

The antitrust settlement is finally approved, but appeals remain, including a Batton appeal involving alleged harm to homebuyers.

Oracle’s 2025 settlement requires PeopleSoft services to wind down by July 31, 2028; related revenue was 5% of 2025 revenue.

Climate risk now centers on EU emissions rules, with fewer free allowances and higher purchased-allowance costs anticipated.

Adds goodwill and intangible-asset impairment as a potential source of significant charges to earnings.

KeHE supplied 52% of purchases in fiscal 2025, and its primary-distributor contract now runs through July 31, 2035; UNFI supplied 12%.

The company completed its acquisition of Brazilian architectural-paint provider Suvinil in October 2025; its annual sales are approximately $525 million.

Product-price risk now highlights commodity deflation in 2024 and 2025, including lower sales and margins even if volumes hold steady.

New risks highlight online-deposit competition and acquisition costs, evolving AI oversight, and untested origination and partnership funding plans.

New risks focus on customer adoption of distributed energy and uncertain demand from technologies such as data centers and electric vehicles.