What the changes say
- Inventory management and climate change compliance added as new operational and regulatory risks.
What changed since the prior 10-K
New
- NewOperational Risks
Variables impacting effective inventory management may adversely impact our performance
Inefficient inventory management or demand misalignment could cause markdowns, impairment charges, and lost business to competitors.
- NewStrategic and Other Business Risks
and vary due to weather conditions. Additionally, adverse weather conditions or significant changes in weather patterns could adversely affect us.” for more information
Climate change regulations and carbon taxes could restrict operations, require capital expenditures, and increase fuel and transportation costs.
Dropped
- DroppedOperational Risks
Operations at our Ogden, Utah, facility are dependent on ambient brine from the Great Salt Lake, and changes in lake brine levels or any limitations on our continued ability to access ambient lake brine in the Great Salt Lake could adversely affect us
- DroppedFinancial Risks
Canadian provincial tax authorities have challenged our tax positions and assessed additional taxes on us, which are described in Part II, Item 8, Note 10 to our Consolidated Financial Statements. These tax assessments and future tax assessments could be material if the disputes are not resolved in our favor
- DroppedStrategic and Other Business Risks
Acquisitions and investments involve significant risks and uncertainties, including diversion of management attention, greater than expected liabilities and expenses, inadequate return on capital and unidentified issues not discovered in our due diligence
- DroppedStrategic and Other Business Risks
Outbreaks of contagious disease or similar public health threats could materially and adversely affect our business, financial condition and results of operations
Reworded
- 98% rewrittenOperational Risks
COMPASS MINERALS INTERNATIONAL, INC
Added specific figures noting that two North American salt mines constituted roughly 70% of salt production capacity as of September 30, 2025.
- 85% rewrittenOperational Risks
Geological conditions could lead to a mine shutdown, increased costs, production delays and product quality issues, which could adversely affect results of our operations
Moved details regarding water inflows, flooding, and mine collapses into this risk from risk 5.
- 82% rewrittenOperational Risks
Strikes, other forms of work stoppage or slowdown and other union activities could disrupt our business and negatively impact our financial results
Updated collective bargaining agreement status, noting the Cote Blanche mine agreements expired in fiscal 2025 and Goderich has 393 positions under a CBA expiring in fiscal 2026.
- 82% rewrittenFinancial Risks
We are subject to tax liabilities which could adversely impact our profitability, cash flow and liquidity
Added a specific note that a Canadian provincial tax authority has challenged tax positions and assessed additional taxes and interest.
- 82% rewrittenOperational Risks
Our operations are conducted primarily through a limited number of key production and distribution facilities, and we are also dependent on critical equipment
Updated filing date reference from 2024 to 2025 form 10-K.
- 80% rewrittenOperational Risks
Inflation could result in higher costs and decreased profitability
Refined wording on how contract terms and competitive bidding constrain the recovery of inflation-driven cost increases.
- 71% rewrittenStrategic and Other Business Risks
We may not be able to expand our business through acquisitions and investments, and acquisitions and investments may not perform as expected. We may not successfully integrate acquired businesses and anticipated benefits may not be realized
Removed specific reference to the acquisition of Fortress from the discussion of past business investments.
- 52% rewrittenStrategic and Other Business Risks
Climate change and related laws and regulations could adversely affect us
Added the word physical to describe the impacts of climate change on resources, operations, and product demand.
- 44% rewrittenOperational Risks
The results of our operations are dependent on and vary due to weather conditions and lake level fluctuations. Additionally, adverse weather conditions or significant changes in weather patterns could adversely affect us
Was: The results of our operations are dependent on and vary due to weather conditions. Additionally, adverse weather conditions or significant changes in weather patterns could adversely affect us
- 40% rewrittenLegal, Regulatory and Compliance Risks
Our intellectual property may be misappropriated or subject to claims of infringement
- 37% rewrittenLegal, Regulatory and Compliance Risks
Unanticipated litigation or investigations, or negative developments in pending litigation or investigations or with respect to other contingencies, could adversely affect us
- 36% rewrittenStrategic and Other Business Risks
Our business is dependent upon personnel, including highly skilled personnel. A labor shortage or the loss of key personnel may have a material adverse effect on our performance
- 31% rewrittenOperational Risks
Our production processes rely on the consumption of natural gas, electricity, diesel, and certain other raw materials. A significant interruption in the supply or an increase in the price of any of these could adversely affect our business
Was: Our production processes rely on the consumption of natural gas, electricity and certain other raw materials. A significant interruption in the supply or an increase in the price of any of these could adversely affect our business
- 29% rewrittenOperational Risks
Our products face strong competition and if we fail to successfully attract and retain customers and invest in capital improvements, productivity, quality improvements and product development, sales of our products could be adversely affected
- 26% rewrittenFinancial Risks
The agreements governing our indebtedness impose restrictions that may limit our ability to operate our business or require accelerated debt payments
- 23% rewrittenLegal, Regulatory and Compliance Risks
We are subject to costs and risk associated with a complex regulatory, compliance and legal environment, and we may be adversely affected by changes in laws, industry standards and regulatory requirements
- 22% rewrittenFinancial Risks
Some of our customers require access to credit in order to purchase our products. A lack of available credit to customers, due to global or local economic conditions or for other reasons, could adversely affect demand for, and sales of, our products
Was: Some of our customers require access to credit in order to purchase our products. A lack of available credit to customers, due to global or local economic conditions or for other reasons, could adversely affect demand for our products and the sales of our products
- 21% rewrittenStrategic and Other Business Risks
We may not successfully implement our strategies
All 38 risk factors
Headings as the filing states them, in filing order.
Risks Related to our Restatement and Internal Controls
- 01A material weakness is a deficiency, or a combination of deficiencies, in internal control over financial reporting such that there is a reasonable possibility that a material misstatement of our annual or interim financial statements will not be prevented or detected in a timely basis
Operational Risks
- 02Our mining and industrial operations can involve high-risk activities
- 03Geological conditions could lead to a mine shutdown, increased costs, production delays and product quality issues, which could adversely affect results of our operations85% rewritten
- 04The results of our operations are dependent on and vary due to weather conditions and lake level fluctuations. Additionally, adverse weather conditions or significant changes in weather patterns could adversely affect us44% rewritten
- 05Our operations are conducted primarily through a limited number of key production and distribution facilities, and we are also dependent on critical equipment82% rewritten
- 06COMPASS MINERALS INTERNATIONAL, INC98% rewritten
- 07Our business is capital intensive, and the inability to fund necessary capital expenditures or successfully complete our capital projects could have an adverse effect on our growth and profitability
- 08We face numerous uncertainties in estimating our economically recoverable reserves and resources, and inaccuracies in our estimates could result in lower than expected revenues, higher than expected costs and decreased profitability
- 09Strikes, other forms of work stoppage or slowdown and other union activities could disrupt our business and negatively impact our financial results82% rewritten
- 10Our production processes rely on the consumption of natural gas, electricity, diesel, and certain other raw materials. A significant interruption in the supply or an increase in the price of any of these could adversely affect our business31% rewritten
- 11The demand for our salt and plant nutrition products is seasonal, and the degree of seasonality can change significantly from year to year due to weather conditions, including the number of snow events, rainfall, drought and other factors
- 12Variables impacting effective inventory management may adversely impact our performanceNew
- 13Anticipated changes in potash prices and customer application rates can have a significant effect on the demand and price for our plant nutrition products
- 14Our products face strong competition and if we fail to successfully attract and retain customers and invest in capital improvements, productivity, quality improvements and product development, sales of our products could be adversely affected29% rewritten
- 15Inflation could result in higher costs and decreased profitability80% rewritten
- 16Increasing costs or a lack of availability of transportation services could have an adverse effect on our ability to deliver products at competitive prices
- 17Risks associated with our international operations and sales and changes in economic and political environments could adversely affect our business and earnings
- 18Conditions in the sectors where we sell products and supply and demand imbalances for competing products can impact the price and demand for our products
Financial Risks
- 19Our indebtedness and any inability to pay our indebtedness could adversely affect our business and financial condition
- 20The agreements governing our indebtedness impose restrictions that may limit our ability to operate our business or require accelerated debt payments26% rewritten
- 21We are subject to tax liabilities which could adversely impact our profitability, cash flow and liquidity82% rewritten
- 22Some of our customers require access to credit in order to purchase our products. A lack of available credit to customers, due to global or local economic conditions or for other reasons, could adversely affect demand for, and sales of, our products22% rewritten
- 23We are subject to financial assurance requirements and failure to satisfy these requirements could materially affect our business, results of our operations and our financial condition
- 24We ceased paying cash dividends in fiscal 2024; any future cash dividends will be at the discretion of our board of directors and other factors
Legal, Regulatory and Compliance Risks
- 25Our operations depend on our rights and governmental authorizations to mine and operate our properties
- 26Unanticipated litigation or investigations, or negative developments in pending litigation or investigations or with respect to other contingencies, could adversely affect us37% rewritten
- 27We are subject to EHS laws and regulations which could become more stringent and adversely affect our business
- 28We could incur significant environmental liabilities with respect to our current, future or former facilities, adjacent or nearby third-party facilities or off-site disposal locations
- 29Compliance with import and export requirements, the FCPA and other applicable anti-corruption laws may increase the cost of doing business
- 30We are subject to costs and risk associated with a complex regulatory, compliance and legal environment, and we may be adversely affected by changes in laws, industry standards and regulatory requirements23% rewritten
- 31We may face significant product liability claims and product recalls, which could harm our business and reputation
- 32Our intellectual property may be misappropriated or subject to claims of infringement40% rewritten
Strategic and Other Business Risks
- 33We may not successfully implement our strategies21% rewritten
- 34Our business is dependent upon personnel, including highly skilled personnel. A labor shortage or the loss of key personnel may have a material adverse effect on our performance36% rewritten
- 35If our computer systems, information technology or operations technology are disrupted or compromised, our ability to conduct our business will be adversely impacted
- 36Climate change and related laws and regulations could adversely affect us52% rewritten
- 37and vary due to weather conditions. Additionally, adverse weather conditions or significant changes in weather patterns could adversely affect us.” for more informationNew
- 38We may not be able to expand our business through acquisitions and investments, and acquisitions and investments may not perform as expected. We may not successfully integrate acquired businesses and anticipated benefits may not be realized71% rewritten
Other Compass Minerals International 10-Ks
- FY2024 10-K risk factors40 risks
Compass Minerals faces severe operational concentration risks in underground mining, brine extraction at the Great Salt Lake, and weather-dependent deicing salt sales. Financial flexibility is constrained by $922.8 million of debt, internal control material weaknesses, and the elimination of cash dividends.
Filed Dec 16, 2024
About this page
The headings are the filing's own. The one-line readings and the overview are automated and can be wrong: read Item 1A of the 10-K for the exact wording.