Risk factors

AI risk now emphasizes automation replacing or bypassing UL Solutions’ human-performed TIC services, not just disruption in S&A.

New competition from Chinese suppliers and expanding Chinese automakers could limit Visteon’s sales opportunities, especially where it has less product content.

Newly identifies AI governance and performance as risks to shopping engagement, conversion, and competitiveness, with Muse launched in February 2025.

Wyndham now identifies Salesforce and Canary as third-party AI tools already used in its business.

SEC-filing customers still generate over 35% of revenue, down from over 40%; non-SEC bookings fell from over 75% to over 70%.

The new risk highlights execution costs and customer-service risks from exiting leased sites and abandoning rental fleet units under the Network Optimization Plan.

Legal risks now explicitly include organized opposition to ExxonMobil’s products and resource development, extraterritorial rules, and enforcement changes.

A 2025 government shutdown is linked to mandated schedule cuts, airport delays and cancellations, weaker bookings, and delayed aircraft approvals.

Ameren adds uncertainty over whether forecast load growth materializes, despite 2.2 GW of Missouri large-customer agreements.

Section 45Z tax-credit uncertainty is the only new risk identified, affecting expected value from qualifying fuel production.

New 26 flags uncertain effects of the 2025 One Big Beautiful Bill Act on taxes and healthcare programs.

New risks address tariffs disrupting MBS, repo and equity markets, and recession concerns.