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0000001750 | Our business has historically been dependent on educated and skilled aviation mechanics because of the complex nature of many of our products and services. | 1section_1A
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0000001750 | Furthermore, we have a collective bargaining agreement covering approximately 200 employees. | 1section_1A
| {
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} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_87 | 202 |
0000001750 | Beginning in April 2020, we furloughed a significant portion of our skilled workforce as a result of the negative impact the COVID-19 pandemic has had on the demand for our services. | 1section_1A
| {
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0000001750 | Although we are taking measures to maintain good relationships with our workforce, including by paying the employer and employee portion of the furloughed employees’ health insurance costs, there can be no assurance that the act of furloughing our employees will not damage employee relations or cause employees to seek work elsewhere. | 1section_1A
| {
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} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_89 | 204 |
0000001750 | Should the demand for skilled personnel return to pre-COVID-19 levels, and if we are unable to quickly reassemble our skilled workforce and subsequently retain a sufficient number of skilled personnel, or we experience a significant or prolonged work stoppage in such an environment, our ability to secure new work and our results of operations and financial condition could be adversely affected. | 1section_1A
| {
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} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_90 | 205 |
0000001750 | We operate in highly competitive markets, and competitive pressures may adversely affect us. | 1section_1A
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0000001750 | The markets for our products and services to our commercial, government, and defense customers are highly competitive, and we face competition from a number of sources, both domestic and international. | 1section_1A
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} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_92 | 207 |
0000001750 | Our competitors include aircraft manufacturers, aircraft component and parts manufacturers, airline and aircraft service companies, other companies providing maintenance, repair and overhaul services, other aircraft spare parts distributors and redistributors. | 1section_1A
| {
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} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_93 | 208 |
0000001750 | Some of our competitors have substantially greater financial and other resources than we have and others may price their products and services below our selling prices. | 1section_1A
| {
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} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_94 | 209 |
0000001750 | These competitive markets also create pressure on our ability to hire and retain qualified technicians and other skilled labor needs. | 1section_1A
| {
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} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_95 | 210 |
0000001750 | We believe that our ability to compete depends on superior customer service and support, on-time delivery, sufficient inventory availability, competitive pricing, and effective quality assurance programs. | 1section_1A
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} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_96 | 211 |
0000001750 | Our government customers, including the DoD and DoS, may turn to commercial contractors, rather than traditional defense contractors, for certain work, or may utilize set asides such as small business, women-owned, or minority-owned contractors or determine to source work internally rather than use us. | 1section_1A
| {
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} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_97 | 212 |
0000001750 | We are also impacted by bid protests from unsuccessful bidders on new program awards and task orders. | 1section_1A
| {
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} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_98 | 213 |
0000001750 | Bid protests could result in significant expense for us, contract modifications, or the award decision being overturned and loss of the contract award. | 1section_1A
| {
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} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_99 | 214 |
0000001750 | Even where a bid protest does not result in the loss of an award, the resolution can extend the time until the contract activity can begin, and delay earnings. | 1section_1A
| {
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} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_100 | 215 |
0000001750 | These competitive pressures, with potential impacts on both our commercial and government business, could adversely affect our results of operations and financial condition. | 1section_1A
| {
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} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_101 | 216 |
0000001750 | We are exposed to risks associated with operating internationally. | 1section_1A
| {
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} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_102 | 217 |
0000001750 | We conduct our business in a number of foreign countries, some of which are politically unstable or subject to military or civil conflicts. | 1section_1A
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} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_103 | 218 |
0000001750 | Consequently, we are subject to a variety of risks that are specific to international operations, including the following: ●military conflicts, civil strife, and political risks; ●export regulations that could erode profit margins or restrict exports; ●compliance with the U.S. Foreign Corrupt Practices Act, United Kingdom (“UK”) Bribery Act 2010, and other anti-bribery and anti-corruption laws; see Note 15 of Notes to Consolidated Financial Statements for information about certain pending proceedings; ●the burden and cost of compliance with foreign laws, treaties, and technical standards and changes in those regulations; ●contract award and funding delays; ●potential restrictions on transfers of funds; ●import and export duties and value added taxes; ●foreign exchange risk; ●transportation delays and interruptions, including the inability to move personnel out of foreign jurisdictions due to COVID-19 travel restrictions; ●uncertainties arising from foreign local business practices and cultural considerations; and ●changes in U.S. policies on trade relations and trade policy, including implementation of or changes in trade sanctions, tariffs, and embargoes. | 1section_1A
| {
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} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_104 | 219 |
0000001750 | On January 31, 2020, the UK officially exited the European Union (“EU”) and entered a transition period during which it remains bound by EU rules and trade policy. | 1section_1A
| {
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} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_105 | 220 |
0000001750 | There is significant uncertainty regarding the terms and the future relationship between the UK and the EU following the transition period. | 1section_1A
| {
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} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_106 | 221 |
0000001750 | Potential adverse consequences of the UK’s exit include global market uncertainty, volatility in currency exchange rates, greater restrictions on imports and exports between the UK and other countries and increased regulatory complexities. | 1section_1A
| {
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} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_107 | 222 |
0000001750 | While we have adopted and will continue to adopt measures to reduce the potential impact of losses resulting from the risks of doing business internationally, such measures may not be adequate, and the regions in which we operate might not continue to be stable enough to allow us to operate profitably or at all. | 1section_1A
| {
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} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_108 | 223 |
0000001750 | Acquisitions expose us to risks, including the risk that we may be unable to effectively integrate acquired businesses. | 1section_1A
| {
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} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_109 | 224 |
0000001750 | We have completed acquisitions in the past few years and we have discussions with third parties regarding acquisitions on a regular basis. | 1section_1A
| {
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} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_110 | 225 |
0000001750 | Acquisitions involve risks, including difficulties in integrating the operations and personnel, the effects of amortization of any acquired intangible assets and the potential impairment of goodwill, and the potential loss of key employees of the acquired business. | 1section_1A
| {
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} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_111 | 226 |
0000001750 | In addition, acquisitions often require substantial management resources and have the potential to divert our attention from our existing business. | 1section_1A
| {
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} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_112 | 227 |
0000001750 | For any businesses we may acquire in the future, we may not be able to execute our operational, financial, or integration plans for the acquired businesses, which could adversely affect our results of operations and financial condition. | 1section_1A
| {
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} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_113 | 228 |
0000001750 | Market values for our aviation products fluctuate and we may be unable to recover our costs incurred on engines, rotable components and other aircraft parts. | 1section_1A
| {
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} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_114 | 229 |
0000001750 | We make a number of assumptions when determining the recoverability of rotable components, engines, and other assets which are on lease, available for lease, or supporting our long-term programs. | 1section_1A
| {
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} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_115 | 230 |
0000001750 | These assumptions include historical sales trends, current and expected usage trends, replacement values, current and expected lease rates, residual values, future demand, and future cash flows. | 1section_1A
| {
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} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_116 | 231 |
0000001750 | Reductions in demand for these assets or declining market values, as well as differences between actual results and the assumptions utilized by us when determining the recoverability of our aircraft, engines, and other assets, could result in impairment charges in future periods, which would adversely affect our results of operations and financial condition. | 1section_1A
| {
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} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_117 | 232 |
0000001750 | We may need to reduce the carrying value of our assets. | 1section_1A
| {
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} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_118 | 233 |
0000001750 | We own and distribute a significant amount of engines, aircraft parts and components, as well as own manufacturing facilities and joint venture investments. | 1section_1A
| {
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} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_119 | 234 |
0000001750 | Recurring losses in certain operations could require us to evaluate the recoverability of the carrying value of the related assets and recognize an impairment charge through earnings to reduce the carrying value. | 1section_1A
| {
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} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_120 | 235 |
0000001750 | During fiscal 2020, 2019, and 2018, we recognized impairment charges of $11.8 million, $74.1 million, and $54.2 million, respectively, related to our COCO business which is classified as a discontinued operation. | 1section_1A
| {
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} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_121 | 236 |
0000001750 | In addition, if aircraft or engines for which we offer replacement parts or supply repair and overhaul services are retired and there are fewer aircraft that require these parts or services, our revenues may decline. | 1section_1A
| {
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} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_122 | 237 |
0000001750 | We recognized impairment charges of $11.0 million in fiscal 2020 related to the exit of certain product lines across our operations. | 1section_1A
| {
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} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_123 | 238 |
0000001750 | We make a number of assumptions when determining the recoverability of our assets, including historical sales trends, current and expected usage trends, replacement values, current and expected lease rates, residual values, future demand, and future cash flows. | 1section_1A
| {
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} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_124 | 239 |
0000001750 | Differences between actual results and the assumptions utilized by us when determining the recoverability of our assets could result in impairment charges in future periods, which would adversely affect our results of operations and financial condition. | 1section_1A
| {
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} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_125 | 240 |
0000001750 | We have recorded goodwill and other intangible assets related to acquisitions. | 1section_1A
| {
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} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_126 | 241 |
0000001750 | If we are unable to achieve the projected levels of operating results, it may be necessary to record an impairment charge to reduce the carrying value of goodwill and related intangible assets. | 1section_1A
| {
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} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_127 | 242 |
0000001750 | During the third quarter of fiscal 2018, we recognized a goodwill impairment charge of $9.8 million related to our COCO business. | 1section_1A
| {
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} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_128 | 243 |
0000001750 | Similarly, if we were to lose a key customer or if a regulator were to terminate any of our repair certificates at our airframe maintenance or landing gear facilities, we might be required to record an impairment charge if we were unable to operate. | 1section_1A
| {
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} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_129 | 244 |
0000001750 | We are dependent upon continued availability of financing to manage our business and to execute our business strategy, and additional financing may not be available on terms acceptable to us. | 1section_1A
| {
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} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_130 | 245 |
0000001750 | Our ability to manage our business and to execute our business strategy is dependent, in part, on the continued availability of debt and equity capital. | 1section_1A
| {
"1d": 0,
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} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_131 | 246 |
0000001750 | Access to the debt and equity capital markets may be limited by various factors, including the condition of overall credit markets, general economic factors, state of the aviation industry, our financial performance, and credit ratings. | 1section_1A
| {
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} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_132 | 247 |
0000001750 | Debt and equity capital may not continue to be available to us on favorable terms, or at all. | 1section_1A
| {
"1d": 0,
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"30d": 0
} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_133 | 248 |
0000001750 | Our inability to obtain financing on favorable terms could adversely affect our results of operations and financial condition. | 1section_1A
| {
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} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_134 | 249 |
0000001750 | LIBOR, the London interbank offered rate, is the basic rate of interest used in lending between banks on the London interbank market and is widely used as a reference for setting the interest rate on loans globally. | 1section_1A
| {
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} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_135 | 250 |
0000001750 | Interest rates under our Revolving Credit Facility (as defined below) are based partly on LIBOR. | 1section_1A
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} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_136 | 251 |
0000001750 | LIBOR is currently expected to phase out by the end of 2021. | 1section_1A
| {
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} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_137 | 252 |
0000001750 | It is unclear if at that time LIBOR will cease to exist or if new methods of calculating LIBOR will be established such that it continues to exist after 2021. | 1section_1A
| {
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} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_138 | 253 |
0000001750 | The U.S. Federal Reserve has begun publishing a Secured Overnight Funding Rate which is currently intended to serve as an alternative reference rate to LIBOR. | 1section_1A
| {
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} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_139 | 254 |
0000001750 | If the method for calculation of LIBOR changes, if LIBOR is no longer available or if lenders have increased costs due to changes in LIBOR, we may suffer from potential increases in interest rates on our borrowings. | 1section_1A
| {
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} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_140 | 255 |
0000001750 | Further, we may need to renegotiate our credit facilities or any other borrowings that utilize LIBOR as a factor in determining the interest rate to replace LIBOR with the new standard that is established. | 1section_1A
| {
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} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_141 | 256 |
0000001750 | Our existing debt and expected government funding includes restrictive and/or financial covenants. | 1section_1A
| {
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} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_142 | 257 |
0000001750 | Certain financing arrangements, including our Revolving Credit Facility and our accounts receivable financing program, require us to comply with various restrictive covenants and some contain financial covenants that require us to comply with specified financial ratios and tests. | 1section_1A
| {
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} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_143 | 258 |
0000001750 | Our failure to meet these covenants could result in default under these loan and debt agreements and may result in a cross-default under other debt agreements. | 1section_1A
| {
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} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_144 | 259 |
0000001750 | In the event of a default and our inability to obtain a waiver of the default, all amounts outstanding under our debt agreements could be declared immediately due and payable. | 1section_1A
| {
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} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_145 | 260 |
0000001750 | Our failure to comply with these covenants could adversely affect our results of operations and financial condition. | 1section_1A
| {
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} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_146 | 261 |
0000001750 | In addition, our expected receipt of funding under Payroll Support Program under the CARES Act would require us to comply with certain covenants. | 1section_1A
| {
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} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_147 | 262 |
0000001750 | If we do not comply with these covenants, the government may require us to repay the support given to us. | 1section_1A
| {
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} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_148 | 263 |
0000001750 | We may not be able to pay or maintain dividends, or we may choose not to pay dividends, and the failure to pay or maintain dividends may adversely affect our share price. | 1section_1A
| {
"1d": 0,
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} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_149 | 264 |
0000001750 | On March 17, 2020, our Board of Directors declared a regular quarterly dividend of $0.075 per share, or an aggregate of $2.6 million, which was paid on April 9, 2020 to holders of record on March 30, 2020. | 1section_1A
| {
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} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_150 | 265 |
0000001750 | This dividend may not be indicative of the amount of any future quarterly dividends. | 1section_1A
| {
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} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_151 | 266 |
0000001750 | Specifically, the Payroll Support Program under the CARES Act prohibits the Company from paying stock dividends through September 30, 2021, accordingly no dividend will be paid by the Company prior to that time assuming the receipt of funding. | 1section_1A
| {
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} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_152 | 267 |
0000001750 | After the restrictions on paying the dividend under the CARES Act lapse, our ability to pay, maintain or increase cash dividends to our stockholders is subject to the discretion of our Board of Directors and will depend on many factors, including: our ability to comply with financial covenants, the economic condition of the commercial aviation industry, the level and timing of capital expenditures, principal repayments and other capital needs, maintaining our credit ratings, our results of operations, financial condition and liquidity, and legal restrictions on the payment of dividends, including government imposed restrictions. | 1section_1A
| {
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} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_153 | 268 |
0000001750 | In the future, we may choose to not pay dividends or may not be able to pay dividends, maintain our current level of dividends, or increase them over time. | 1section_1A
| {
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"30d": 0
} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_154 | 269 |
0000001750 | The failure to maintain or pay dividends may adversely affect our share price. | 1section_1A
| {
"1d": 0,
"5d": 1,
"30d": 0
} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_155 | 270 |
0000001750 | Our industry is susceptible to product and other liability claims, and claims not adequately covered by insurance may adversely affect our financial condition. | 1section_1A
| {
"1d": 0,
"5d": 1,
"30d": 0
} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_156 | 271 |
0000001750 | Our business exposes us to possible claims for property damage and bodily injury or death, which may result if an engine, engine part or component, airframe part or accessory, or any other aviation product that we have sold, manufactured, or repaired fails, or if an aircraft we operated, serviced, or in which our products are installed, has an accident. | 1section_1A
| {
"1d": 0,
"5d": 1,
"30d": 0
} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_157 | 272 |
0000001750 | We carry substantial liability insurance in amounts that we believe are adequate for our risk exposure and commensurate with industry norms. | 1section_1A
| {
"1d": 0,
"5d": 1,
"30d": 0
} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_158 | 273 |
0000001750 | However, claims may arise in the future, and our insurance coverage may not be adequate to protect us in all circumstances. | 1section_1A
| {
"1d": 0,
"5d": 1,
"30d": 0
} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_159 | 274 |
0000001750 | Additionally, we might not be able to maintain adequate insurance coverage in the future at an acceptable cost. | 1section_1A
| {
"1d": 0,
"5d": 1,
"30d": 0
} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_160 | 275 |
0000001750 | Any liability claim not covered by adequate insurance could adversely affect our results of operations and financial condition. | 1section_1A
| {
"1d": 0,
"5d": 1,
"30d": 0
} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_161 | 276 |
0000001750 | Our business could be negatively affected by cyber or other security threats or other disruptions. | 1section_1A
| {
"1d": 0,
"5d": 1,
"30d": 0
} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_162 | 277 |
0000001750 | Our business depends heavily on information technology and computerized systems to communicate and operate effectively. | 1section_1A
| {
"1d": 0,
"5d": 1,
"30d": 0
} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_163 | 278 |
0000001750 | The Company's systems and technologies, or those of third parties on which we rely, could fail or become unreliable due to equipment failures, software viruses, cyber threats, ransomware attacks, terrorist acts, natural disasters, power failures or other causes. | 1section_1A
| {
"1d": 0,
"5d": 1,
"30d": 0
} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_164 | 279 |
0000001750 | These threats arise in some cases as a result of our role as a defense contractor. | 1section_1A
| {
"1d": 0,
"5d": 1,
"30d": 0
} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_165 | 280 |
0000001750 | Cyber security threats are evolving and include, but are not limited to, malicious software, attempts to gain unauthorized access to our sensitive information, business e-mail compromises, ransomware attacks, and other electronic security breaches, including at our customers, suppliers, subcontractors, and joint venture partners, that could lead to disruptions in mission critical systems, unauthorized release of confidential or otherwise protected information, and corruption of data. | 1section_1A
| {
"1d": 0,
"5d": 1,
"30d": 0
} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_166 | 281 |
0000001750 | The procedures and controls we utilize to monitor and mitigate these threats may not be sufficient to prevent security threats from materializing. | 1section_1A
| {
"1d": 0,
"5d": 1,
"30d": 0
} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_167 | 282 |
0000001750 | If any of these events were to materialize, the costs related to cyber or other security threats or disruptions may not be fully insured or indemnified and could have a material adverse effect on our reputation, operating results, and financial condition. | 1section_1A
| {
"1d": 0,
"5d": 1,
"30d": 0
} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_168 | 283 |
0000001750 | Moreover, expenditures incurred in implementing and maintaining cyber security and other procedures and controls could adversely affect our results of operations and financial condition. | 1section_1A
| {
"1d": 0,
"5d": 1,
"30d": 0
} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_169 | 284 |
0000001750 | We must comply with extensive environmental requirements, and any exposure to environmental liabilities may adversely affect us. | 1section_1A
| {
"1d": 0,
"5d": 1,
"30d": 0
} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_170 | 285 |
0000001750 | Federal, state, and local requirements relating to the discharge and emission of substances into the environment, the disposal of hazardous wastes, the remediation and abatement of contaminants, and other activities affecting the environment have had and may continue to have an impact on our operations. | 1section_1A
| {
"1d": 0,
"5d": 1,
"30d": 0
} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_171 | 286 |
0000001750 | Management cannot assess the possible effect of compliance with future environmental requirements or of future environmental claims for which we may not have adequate indemnification or insurance coverage. | 1section_1A
| {
"1d": 0,
"5d": 1,
"30d": 0
} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_172 | 287 |
0000001750 | If we were required to pay the expenses related to any future environmental claims for which neither indemnification nor insurance coverage were available, these expenses could have an adverse impact on our results of operations and financial condition. | 1section_1A
| {
"1d": 0,
"5d": 1,
"30d": 0
} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_173 | 288 |
0000001750 | Future environmental regulatory developments in the United States and abroad concerning environmental issues, such as climate change, could adversely affect our operations and increase operating costs and, through their impact on our customers, reduce demand for our products and services. | 1section_1A
| {
"1d": 0,
"5d": 1,
"30d": 0
} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_174 | 289 |
0000001750 | Actions may be taken in the future by the U.S. government, state governments within the United States, foreign governments, or the International Civil Aviation Organization to regulate the emission of greenhouse gases by the aviation industry. | 1section_1A
| {
"1d": 0,
"5d": 1,
"30d": 0
} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_175 | 290 |
0000001750 | The precise nature of any such requirements and their applicability to us and our customers are difficult to predict, but the impact to us and the aviation industry would likely be adverse and could be significant, including the potential for increased fuel costs, carbon taxes or fees, or a requirement to purchase carbon credits. | 1section_1A
| {
"1d": 0,
"5d": 1,
"30d": 0
} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_176 | 291 |
0000001750 | We may need to make significant capital expenditures to keep pace with technological developments in our industry. | 1section_1A
| {
"1d": 0,
"5d": 1,
"30d": 0
} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_177 | 292 |
0000001750 | The industries in which we participate are constantly undergoing development and change, and it is likely that new products, equipment, and methods of repair and overhaul services will be introduced in the future. | 1section_1A
| {
"1d": 0,
"5d": 1,
"30d": 0
} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_178 | 293 |
0000001750 | We may need to make significant expenditures to purchase new equipment and to train our employees to keep pace with any new technological developments. | 1section_1A
| {
"1d": 0,
"5d": 1,
"30d": 0
} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_179 | 294 |
0000001750 | These expenditures could adversely affect our results of operations and financial condition. | 1section_1A
| {
"1d": 0,
"5d": 1,
"30d": 0
} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_180 | 295 |
0000001750 | ITEM 1B. | 1section_1A
| {
"1d": 0,
"5d": 1,
"30d": 0
} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1A_181 | 296 |
0000001750 | ITEM 1B.UNRESOLVED STAFF COMMENTS Not Applicable. | 2section_1B
| {
"1d": 0,
"5d": 1,
"30d": 0
} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1B_0 | 297 |
0000001750 | ITEM 2. | 2section_1B
| {
"1d": 0,
"5d": 1,
"30d": 0
} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_1B_1 | 298 |
0000001750 | ITEM 2.PROPERTIES In the Aviation Services segment, we conduct parts supply activities from our headquarters in Wood Dale, Illinois, which we own. | 3section_2
| {
"1d": 0,
"5d": 1,
"30d": 0
} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_2_0 | 299 |
0000001750 | In addition to warehouse space, this facility includes executive, sales and administrative offices. | 3section_2
| {
"1d": 0,
"5d": 1,
"30d": 0
} | 2020-07-21 | 0000001750_10-K_2020 | 0000001750_10-K_2020_section_2_1 | 300 |
Subsets and Splits