Red Flags Detected

• ⚠ Goodwill Impairment (new) — Company recorded $676 million in goodwill impairments across three reporting units in 2024, with $368M remaining on balance sheet and three units now carrying fair value cushions below 50%.
• ⚠ Covenant Violation (new) — Company amended credit facility to relax leverage covenant from 3.5x to 4.0x through June 2025, warning that non-compliance would eliminate access to $1.2B facility and commercial paper market.