The company completed business acquisitions of Silver Crystal Group, LG Group, Inc. and Thermopatch, Inc. in 2023, expanding the product portfolio in the Solutions Group reportable segment.

The company continues to invest in long-term growth and margin expansion plans, with approximately $240 million in capital expenditures, including fixed assets and information technology, in 2024.

The company anticipates net sales to increase, driven by volume growth in both the Solutions Group and Materials Group reportable segments.

The company had incremental savings from restructuring actions, net of transition costs, of approximately $63 million in 2024.

The company experienced several recent key management changes, including the appointments of our President, Materials Group, and Interim Chief Financial Officer in 2024 and our President/Chief Executive Officer and President, Solutions Group in 2023.

The company is implementing plans to comply with the Dutch Pension Act passed in 2023, which requires traditional defined benefit plans to be phased out and transition to defined contribution plans before January 1, 2028.

The company's international operations are subject to geopolitical, regulatory, and economic conditions, including changes in foreign currency exchange rates and trade policies. Approximately 70% of net sales were produced in international operations.

As a manufacturer, the company's sales and profitability depend upon the availability and cost of raw materials and energy, which may be subject to significant price fluctuations.

The company maintains information necessary to conduct business in digital form, which is subject to the risk of intrusion, tampering and theft. Cybersecurity risk and ransomware attacks on companies continue to significantly increase.

The company faces the risk that existing or new competitors, which include some of its customers, distributors, and suppliers, will expand in its key market segments or develop new technologies, enhancing their competitive position relative to the company.

Changes in customers' preferences for the company's products can also decrease demand for its products and have a material adverse effect on its business.

The company is affected by changes in its markets due to increasing environmental regulations and sustainability trends. If it does not respond appropriately to these changes, it could negatively impact market demand, market share and pricing.

As part of its continuous efficiency improvement culture, the company intends to continue its efforts to reduce costs, which have in the past included, and may continue to include, facility closures and square footage reductions, headcount reductions, organizational restructuring, process standardization, and manufacturing relocation.

The company may experience supply chain disruptions due to natural and other disasters or other events, or its existing relationships with suppliers could deteriorate or end in the future.

The company is also exposed to changes in customer order patterns, such as changes in the levels of inventory maintained by customers and the timing of customer purchases, which are affected by announced price increases, changes in our customer incentive programs, or changes in the customer's ability to achieve incentive targets.

The company focuses on research projects related to RFID, external embellishments, data and digital solutions and printing technologies in Solutions.

In 2024, 2023 and 2022, the company invested in information technology upgrades worldwide.

The company's information technology and infrastructure are vulnerable to attacks by threat actors or system compromises due to employee error, malfeasance or other disruptions, and the threat landscape remains challenging with our digital business transformation, remote or hybrid employees, the increasing use of artificial intelligence ("AI"), and interconnected supply chains expanding the risk of attack.

In November 2024, the company issued €500 million of senior notes, due November 4, 2034, which bear an interest rate of 3.750% per year, payable annually in arrears. The company intends to use to repay our €500 million of senior notes maturing in March 2025 and for general corporate purposes.

In 2024, the company repurchased 1.2 million shares of our common stock at an aggregate cost of $247.5 million.

In April 2024, the company increased its quarterly dividend rate to $0.88 per share, representing an increase of approximately 9% from our previous quarterly dividend rate of $0.81 per share.

The company is subject to national, state, provincial and/or local environmental, health, and safety laws and regulations in the U.S. and other countries in which it operates, including those related to the disposal of hazardous waste and GHG emissions from our manufacturing processes.

The company has accrued liabilities for the environmental clean-up of certain sites where it is probable that a loss will be incurred and the cost or amount of loss can be reasonably estimated, including the ten sites for which U.S. governmental agencies have designated us as a potentially responsible party as of our 2024 fiscal year-end.

Concern regarding climate change has led and is likely to continue leading to increasing demands by legislators and regulators, customers, consumers, investors, employees and non-governmental organizations for companies to reduce their GHG emissions.

The company is exposed to financial market risk resulting from changes in interest and foreign currency exchange rates, and to possible liquidity and credit risks of our counterparties.

The company is subject to export and import control laws and regulations in the jurisdictions in which it does business that could subject us to liability or impair our ability to compete in these markets.

The company is required to comply with the anti-corruption and other compliance laws and regulations of the U.S. government and various international jurisdictions, and our failure to comply with these laws and regulations could have a material adverse effect on our business.