Classification is based on semantic text similarity scoring and may include approximations. “No match” means no high-confidence textual match was found — not necessarily that a section was removed.

🟡 Modified Severity5/10Det 5

The introduction of new accounting rules, laws or regulations could adversely impact our reported results of operations.

medium match confidence

Sentence-level differences:

Removed sentence: "In September 2024, the U.S."
Removed sentence: "Treasury and the IRS proposed regulations regarding the calculation of the Corporate Alternative Minimum Tax (CAMT)."
Removed sentence: "The CAMT was enacted as part of the Inflation Reduction Act of 2022 and generally applies to large corporations with average annual financial statement income exceeding $1 billion."
Removed sentence: "The proposed regulations include a mathematical formula that would be used to allocate an investor’s distributive share of income and loss from partnership investments, including investments in renewable energy projects through tax equity partnerships accounted for using the Hypothetical Liquidation at Book Value method (HLBV)."
Removed sentence: "As currently proposed, the application of such mathematical formula to our investments accounted for using HLBV, particularly during the early phases of a renewable energy facility’s operation, could result in us incurring substantial taxes under the CAMT."

Current (2026):

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View prior text (2025)

Complying with new accounting rules, laws or regulations, such as, for example, those related to our asset retirement obligations and environmental liabilities, could adversely impact our results of operations or cause unanticipated fluctuations in our results of operations or financial conditions in future periods. In September 2024, the U.S. Treasury and the IRS proposed regulations regarding the calculation of the Corporate Alternative Minimum Tax (CAMT). The CAMT was enacted as part of the Inflation Reduction Act of 2022 and generally applies to large corporations with average annual financial statement income exceeding $1 billion. The proposed regulations include a mathematical formula that would be used to allocate an investor’s distributive share of income and loss from partnership investments, including investments in renewable energy projects through tax equity partnerships accounted for using the Hypothetical Liquidation at Book Value method (HLBV). As currently proposed, the application of such mathematical formula to our investments accounted for using HLBV, particularly during the early phases of a renewable energy facility’s operation, could result in us incurring substantial taxes under the CAMT. We believe such a result would be both unintended and inconsistent with the underlying policy of the CAMT. In response, we have both submitted comments and testified at an IRS hearing to address our concerns. If our concerns about this mathematical formula are not addressed in a favorable manner and the regulations are adopted as proposed, they could require the payment of significant additional income taxes that could adversely impact our results of operations or cause unanticipated fluctuations in our results of operations or financial conditions in future periods.

🟡 Modified A significant cybersecurity incident could negatively impact our business and our relationships with employees, customers and vendors and expose us to increased liability. 🔒

🟡 Modified Our strategy includes an increasing dependence on technology, including the use of artificial intelligence (AI), in our operations. If any of our key technology fails, our business could be adversely affected. 🔒

🟡 Modified Fluctuations in prices and demand for recycled commodities that we sell to customers may adversely affect our consolidated financial condition, results of operations and cash flows. 🔒

🟡 Modified We are periodically subject to work stoppages and other workforce effects, which increases our operating costs and disrupts our operations. 🔒

🟡 Modified The loss of key personnel or the inability to attract, hire or retain key team members and a high-quality workforce could have a material adverse effect on our consolidated financial condition, results of operations, cash flows and growth prospects. 🔒

5 more changes in this filing

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