Core sales increased 2.6% driven by a 3.5% increase in developed markets, with North America and Western Europe contributing significantly. High-growth markets were flat, with China experiencing lower demand.

While organic growth was the primary driver, acquisitions still played a role in the company's overall growth strategy, supplementing Veralto's core growth and supporting ongoing expansion of its business.

This expectation influences the outlook for the Product Quality & Innovation segment, suggesting potential for improved performance in the latter part of the year. The company is focused on profitability improvements and VES.

SG&A expenses as a percentage of sales increased 120 basis points YoY due to investments in sales and marketing growth initiatives, intangible asset impairments and increased labor costs as well as the costs to operate as a stand-alone company.

The company continues to focus on profitability improvements and leveraging Veralto Enterprise System ("VES") to manage the anticipated impact of the challenging macroeconomic environment on our business operations.

In connection with the issuance of the U.S. Dollar Notes, the company entered into a registration rights agreement, pursuant to which we are obligated to use commercially reasonable efforts to file with the SEC, and cause to be declared effective, a registration statement with respect to an offer to exchange each series of Notes for registered notes with terms that are substantially identical to the Notes of such series

The 10K filing explicitly states that conditions in the global economy, including military conflicts, the particular markets we serve and the financial markets can adversely affect our business and financial statements.

The company acknowledges the risk of decreased demand and decreased market share if it is unable to compete effectively, and even if it competes effectively, it may be required to reduce the prices it charges.

The 10K filing notes that Veralto's businesses are subject to extensive regulation, and failure to comply with those regulations could adversely affect our business and financial statements.

The company acknowledges that it encounters a wide variety of competitors, including well-established regional competitors, competitors who are more specialized, and large companies with substantial resources.

The 10K filing states that growth depends on the timely development and commercialization, and customer acceptance, of new and enhanced products and services based on technological innovation.

The 10K filing notes that if Veralto is unable to adequately protect its intellectual property, or if third parties infringe our intellectual property rights, we may suffer competitive injury or expend significant resources enforcing our rights.

The 10K filing states that financial results are subject to fluctuations in the cost and availability of the supplies that we use in, and the labor we need for, our operations.

The 10K filing notes that restructuring actions can have long-term adverse effects on our business and financial statements.

Through the application of VES tools and processes (including the implementation of price increases), Veralto largely mitigated the impact of these pressures on Veralto's profitability and as a result these pressures did not have a material, adverse effect on the business in 2023.

Veralto conducts R&D activities for the purpose of developing new products, enhancing the functionality, effectiveness, ease of use and reliability of its existing products and expanding the applications for which uses of its products are appropriate.

The 10K filing states that growth depends in part on the timely development and commercialization, and customer acceptance, of new and enhanced products and services based on technological innovation.

Increasingly, our customers leverage our digital solutions to support regulatory compliance, automate workflows and allow for remote operations and predictive capabilities to address new challenges posed by changing regulations and an aging and less experienced workforce.

The 10K filing states that outstanding debt has increased significantly as a result of our separation from Danaher, and we may incur additional debt in the future.

As of December 31, 2023, we had the ability to incur approximately $1.5 billion of additional indebtedness under a revolving credit agreement

The Company declared its first dividend on December 20, 2023 of $0.09 per share paid on January 31, 2024 to holders of record of Veralto's common stock as of the close of business on December 29, 2023.

The 10K filing states that we are deeply aware of our responsibility to our stakeholders and the opportunities before us to make a global difference—through our innovative products, our impact on the planet, and our people.

Our leadership has conducted a sustainability prioritization assessment to identify our sustainability priorities and inform our sustainability strategy, starting with quantitative greenhouse gas (GHG) reduction goals.

Informed by our prioritization assessment, we intend to establish and publicly communicate sustainability goals and rigorously measure our progress toward achieving such goals.

As a diversified, global business, Veralto's operations are affected by worldwide, regional and industry-specific economic and political factors.

The 10K filing states that non-U.S. economic, political, legal, compliance, social and business factors can negatively affect our business and financial statements.

Veralto is facing increased competition in a number of its served markets as a result of the entry of well-resourced companies into certain markets, the entry of competitors based in low-cost manufacturing locations, the development of competitive technologies by early-stage and emerging companies and increasing consolidation in particular markets.