The 10-K mentions that as the company enters 2024, it expects to continue to benefit from market trends towards automation and digitalization, as well as customer investments in on/near-shoring activities.

The 10-K states that the company seeks to pursue bolt-on acquisitions that may leverage the global sales and service network, respected brand, extensive distribution channels, and technological leadership.

The 10-K mentions that net sales in 2023 were also impacted by shipping delays of approximately $58 million with a new external European logistics service provider, which the company expects to largely recover in the first quarter of 2024.

The 10-K states that the company has implemented global procurement and supply chain management programs over the last several years aimed at lowering costs and have increased focus on these programs with the SternDrive initiative.

The 10-K mentions that the company has also been implementing the Blue Ocean program to globalize business processes and information technology systems that includes the implementation of a Company-wide enterprise resource planning system.

The 10-K states that the Company's Head of Global Supply Chain and IT, Head of Digital Business Services, and Head of Information Security serve on the Cybersecurity Steering Committee, which meets monthly, develops and implements cybersecurity risk mitigation strategies and activities throughout the year, including the management of comprehensive incident response plans, and receives regular updates on cybersecurity-related matters.

The 10-K states that most of the business is derived from companies in developed countries and economic uncertainty in many parts of the world are situations that the company monitors closely. If developed countries were to experience slow growth or recession, the company could see a drop in demand for products.

The 10-K mentions that the company conducts business in many countries, including emerging markets in Asia, Latin America, and Eastern Europe, and these operations represent a significant portion of sales and earnings. The company is subject to currency risks, local tariffs and trade barriers, and difficulties in protecting intellectual property.

The 10-K states that the company relies on its technology infrastructure to interact with suppliers, sell products and services, fulfill orders, support customers, and bill, collect, and make payments. The company's systems may be susceptible to damage or interruption from cybersecurity incidents, such as terrorist or hacker attacks, the introduction of malicious computer viruses, ransomware, falsification of banking and other information, insider risk, or other security breaches.

The 10-K mentions that the company's markets are highly competitive and many are fragmented both geographically and by application, particularly the industrial and food retailing markets. As a result, the company faces numerous regional or specialized competitors, many of which are well established in their markets.

The 10-K states that although the company believes that it has technological and other competitive advantages over many of its competitors, it may not be able to realize and maintain these advantages. These advantages include worldwide market leadership positions, global brand and reputation, track record of technological innovation, comprehensive, high-quality solution offering, global sales and service offering, large installed base of instruments, and diversification of revenue base.

The 10-K mentions that the company also expects its competitors to continue to improve the design and performance of their products and to introduce new products with competitive prices. In addition, competitors are expected to continue to improve their technology infrastructure, as well as the technology services offered to their customers.

The 10-K states that the company has implemented global procurement and supply chain management programs over the last several years aimed at lowering costs and has increased its focus on these programs with the SternDrive initiative.

The 10-K mentions that the company's move to standardized business processes, systems, and data structures throughout the global organization provides greater data transparency and faster access to real-time data. The company's cost leadership and productivity initiatives are also focused on continuously improving invested capital efficiency.

The 10-K states that the company has also made adjustments to its service model to incorporate remote service, depot drop-off/pickup, and other approaches.

The 10-K states that the company continues to invest in product innovation to provide technologically advanced products to customers for existing and new applications. Over the last three years, the company has invested $532 million in research and development.

The 10-K mentions that the company devotes a substantial proportion of its research and development budget to software development, including software to process the signals captured by the sensors of instruments, application-specific software, and software that connects solutions into customers' existing IT systems.

The 10-K states that the company seeks to improve its product offerings and their capabilities with additional integrated technologies and software, which it believes supports pricing differentiation and accelerates product replacement cycles.

The 10-K states that the company's share repurchase program does not obligate it to acquire any specific number of shares; however, in 2024, it intends to spend approximately $850.0 million on the repurchase of shares, subject to business and economic conditions.

The 10-K mentions that capital expenditures are made primarily for investments in information systems and technology, machinery, equipment, and the purchase and expansion of facilities. Capital expenditures totaled $105.3 million in 2023, $121.2 million in 2022, and $107.6 million in 2021.

The 10-K states that historically, the company has not paid dividends on its common stock. However, it will evaluate this policy on a periodic basis taking into account results of operations, financial condition, capital requirements including potential acquisitions, share repurchase program, taxation of dividends to shareholders, and other factors deemed relevant by the Board of Directors.

The 10-K mentions that the company has set a number of goals relating to its GreenMT sustainability program, including reducing its carbon footprint and other environmental, social, and governance goals. As an example, as of 2020, it achieved carbon neutrality with respect to Scope 1 and Scope 2 CO2 emissions.

The 10-K states that the company is committed to greenhouse gas emission reduction targets in line with what the latest climate science deems necessary to meet the goals of the 2015 Paris Agreement on climate change. This commitment includes near-term and long-term net-zero targets approved by the Science Based Target initiative (SBTi).

The 10-K states that the company promotes equal opportunity and inclusiveness worldwide and values diversity in its global workforce, which reflects the diversity in the many communities in which it operates internationally. The company employs people of more than 100 nationalities.

The 10-K states that market demand declined in the company's core segments, especially pharma/biopharmaceutical, with a significant drop-off in China during the second half of the year.

The 10-K mentions that the company expects demand for its products to be reduced during the first half of 2024 which also reflects difficult prior period comparisons after strong results in both 2023 and 2022, particularly in the laboratory business and in China.

The 10-K states that market conditions and challenges remain uncertain relating to the macro environment and global economy, including the impacts of tighter monetary policies and related increase in interest rates to combat inflation, and ongoing developments in Ukraine, the Israel-Hamas war, and increasing geopolitical tensions.