The report mentions that higher sales volume attributable to acquisitions of approximately $48 million partially offset the unfavorable net impact of price and product mix on net sales.

The report states that in 2024, the Company plans to invest approximately $500 million focused on completing capacity expansion projects and targeted initiatives that will drive cost reduction while improving operational performance.

Due to the ongoing Russian military actions in Ukraine, the Company has suspended new investments in Russia. The broader consequences of this conflict may impact the Company's business.

During 2022 and 2023, the Company focused on reducing costs through restructuring actions, productivity initiatives, and manufacturing enhancements by taking actions to enhance future performance. These global actions will deliver annual savings of approximately $150 million.

The Company believes it is well positioned with a strong balance sheet. Based on its current liquidity and available credit, the Company is in a position to finance internal investments, acquisitions and/or additional stock purchases and pay current debt as it becomes due.

The change was primarily attributable to lower input costs and productivity gains. The favorable impact of the aforementioned items was partially offset by the unfavorable net impact of price and product mix and the unfavorable net impact of foreign exchange rates.

The report states that there have been no material changes in the Company's risk factors from those disclosed in Part I, Item 1A to the Company's Annual Report on Form 10-K for the year ended December 31, 2023.

The Company is involved in various lawsuits, claims, investigations and other legal matters from time to time in the regular course of its business.

The broader consequences of this conflict, which may include further economic sanctions, embargoes, regional instability, and geopolitical shifts; potential retaliatory actions, including nationalization of foreign-owned businesses; increased tensions between the United States and countries in which the Company operates; and the extent of the conflict's effect on the Company's business and results of operations, as well as the global economy, cannot be predicted.

Based on its annual sales, the Company believes it is the world's largest flooring manufacturer.

The following important factors could cause future results to differ: changes in economic or industry conditions; competition; inflation and deflation in raw material prices, freight and other input costs; inflation and deflation in consumer markets.

Elevated interest rates, delayed consumer discretionary spending due to inflationary pressures, and other macroeconomic factors continue to impact new home construction and residential renovation and remodeling activity.

The Company anticipates these global actions will deliver annual savings of approximately $150 million, with an estimated cost of approximately $215 million.

Selling, general and administrative expenses did not significantly change as a percentage of net sales for the three months ended March 30, 2024 compared to the three months ended April 1, 2023.

The Company has, to some extent, offset the impact of a soft housing market and decreased renovation activity through cost containment, productivity and lower input costs.

The Company is a leading provider of flooring for residential and commercial markets and has earned significant recognition for its innovation in design and performance as well as sustainability.

In the past, the Company has often been able to enhance productivity and develop new product innovations to help offset increases in costs resulting from inflation in its operations.

Based on its current liquidity and available credit, the Company is in a position to finance internal investments, acquisitions and/or additional stock purchases and pay current debt as it becomes due.

In 2024, the Company plans to invest approximately $500 million focused on completing capacity expansion projects and targeted initiatives that will drive cost reduction while improving operational performance.

The Company continually evaluates its projected needs and may conduct additional debt financings, subject to market conditions, to increase its liquidity and to take advantage of attractive financing opportunities.

The Company is a leading provider of flooring for residential and commercial markets and has earned significant recognition for its innovation in design and performance as well as sustainability.

The Company is involved in various proceedings relating to environmental matters and is currently engaged in environmental investigation, remediation and post-closure care programs at certain sites.

Elevated interest rates, delayed consumer discretionary spending due to inflationary pressures, and other macroeconomic factors continue to impact new home construction and residential renovation and remodeling activity.

Due to its global footprint, Mohawk's business is sensitive to macroeconomic and geopolitical events in the United States and abroad.

The Company expects raw material prices, many of which are petroleum-based, to fluctuate based upon worldwide supply and demand of commodities utilized in the Company's production processes.