Restructurings & Charges

BNB PLUS CORP. announced a restructuring with charges of $1.4 million aggregate pre-tax charges for severance payments, employee benefits, and related costs affecting workforce reduction, reduction of 16 employees (approx. 60%) (reduction of the Company’s current workforce by sixteen employees, or approximately 60%).

“On September 30, 2025, the Board of Directors of Applied DNA Sciences, Inc. (the “ Company ”) authorized, and its officers implemented, a restructuring plan pursuant to which the Company will reduce overall operating expenses to focus resources on its previously announced BNB-focused treasury strategy. The restructuring plan includes a reduction of the Company’s current workforce by sixteen employees, or approximately 60%. The Company estimates that it will incur aggregate pre-tax charges of approximately $1.4 million in connection with the reduction-in-force, primarily consisting of severance payments, employee benefits, and related costs.”

Atkore Inc. announced a restructuring with charges of pre-tax cash charges of between $5 and $15 million, which consist of employee-related costs and other cash shutdown costs affecting three facilities (employee-related costs).

“these facilities by approximately the end of the second quarter of fiscal 2026. As a result of the foregoing plan, the Company expects to incur pre-tax cash charges of between $5 and $15 million, which consist of employee-related costs and other cash shutdown costs. The Company anticipates that the majority of these costs will be incurred by the end of the”

KALA BIO, Inc. announced a restructuring with charges of approximately $0.4 million affecting KPI-012 and its mesenchymal stem cell secretome platform (approximately 19 employees, or approximately 51%).

“generally accepted accounting principles as a result of the Reduction. Subsequent to the Original Report, the Company determined that it expects to incur costs of approximately $0.4 million related to the Reduction, primarily consisting of severance payments and employee benefit costs. The costs related to the Reduction are expected to be substantially incurred in”

Bolt Biotherapeutics, Inc. announced a restructuring with charges of between approximately $1.5 million to $2.0 million affecting the Company (approximately 20 employees, or approximately 50% of the Company’s workforce).

“On October 1, 2025, Bolt Biotherapeutics, Inc., a Delaware corporation (the “Company”), implemented a restructuring plan pursuant to which it will reduce overall operating expenses to preserve cash. The restructuring plan includes a reduction of the Company’s current workforce by approximately 20 employees, or approximately 50% of the Company’s workforce. The Company estimates that it will incur aggregate pre-tax charges between approximately $1.5 million to $2.0 million in connection with the reduction-in-force, primarily consisting of severance payments, employee benefits, and related costs.”

Cardlytics, Inc. announced a restructuring with charges of approximately $2.3 million (approximately 90 full-time employees).

“On October 1, 2025, Cardlytics, Inc. (the “Company”) committed to a plan to reduce its workforce by approximately 90 full-time employees, representing approximately 24% of the Company’s current workforce (the “Plan”). The Plan is intended to optimize the Company’s cost structure and is part of a broader cost-reduction initiative that also includes measures beyond full-time employee reductions. The Company estimates that it will incur non-recurring charges of approximately $2.3 million in connection with the workforce reduction under the Plan, consisting of severance payments and related costs.”

Theriva Biologics, Inc. announced a restructuring with charges of approximately $520,000 affecting global Company workforce (approximately seven employees or 32% of the current global Company workforce).

“its best opportunity for success. The Company expects to substantially complete the employee reduction immediately and estimates that it will incur a total of approximately $520,000 in charges in connection with the workforce reduction, all of which is expected to be incurred in the fourth quarter of 2025. These charges consist primarily of cash severance and”

GENERAL MILLS INC announced a restructuring with charges of approximately $82 million of restructuring charges affecting North America Foodservice pizza crust manufacturing facility in St. Charles, Missouri; two North America Pet manufacturing facilities in Joplin, Missouri; consolidation of assets at certain other faci.

“On September 25, 2025, General Mills, Inc. approved a multi-year organizational initiative to increase the competitiveness of our supply chain. To consolidate capacity, improve our cost structure, and support this initiative, we approved (i) the closure of our North America Foodservice pizza crust manufacturing facility in St. Charles, Missouri, (ii) the closure of two of our North America Pet manufacturing facilities in Joplin, Missouri that we acquired in the Whitebridge Pet Brands acquisition, and (iii) the consolidation of assets at certain of our other facilities, pursuant to which we expect to incur approximately $82 million of restructuring charges, of which approximately $17 million will be cash.”

Alcoa Corp announced a restructuring with charges of approximately $890 million ($623 million (after-tax), or $2.41 per share) affecting Kwinana alumina refinery located in Western Australia (approximately 220 employees).

“In the third quarter of 2025, the Company will record total restructuring and related charges of approximately $890 million ($623 million (after-tax), or $2.41 per share) related to the permanent closure of the Refinery, including approximately $375 million of non-cash impairment charges.”

SUTRO BIOPHARMA, INC. announced a restructuring with charges of approximately $4.1million to $4.3 million (approximately one-third).

“As part of the corporate restructuring, the Company plans to reduce its workforce by approximately one-third. The total cash payments and costs related to the further prioritization of the ADC programs and reducing the workforce are estimated to be approximately $4.1million to $4.3 million”

KALA BIO, Inc. announced a restructuring affecting the Company's workforce (approximately 19 employees, or approximately 51%).

“On September 28, 2025, the board of directors (the “Board”) of KALA BIO, Inc. (the “Company”) determined to cease development of KPI-012 and its mesenchymal stem cell secretome platform and to take steps to preserve cash as the Company explores its strategic options. In connection with such decisions, the Board approved a reduction in the Company’s workforce by approximately 19 employees, or approximately 51% (the “Reduction”).”

IO Biotech, Inc. announced a restructuring with charges of approximately $1.0 million to $1.5 million (approximately 50% of the Company’s workforce globally).

“On September 25, 2025, the Board of Directors of IO Biotech, Inc. (the “Company”) approved a restructuring and workforce reduction plan (the “Plan”) to conserve capital to align the Company’s operations with its primary focus of advancing development of Cylembio ® (imsapepimut and etimupepimut, adjuvanted). The Plan is expected to result in a reduction of approximately 50% of the Company’s workforce globally. In connection with the implementation of the Plan, the Company expects to incur one-time charges and cash expenditures in a range of approximately $1.0 million to $1.5 million, primarily related to employee wages and severance payments, healthcare continuation, earned vacation time and related termination costs.”

STARBUCKS CORP announced a restructuring with charges of approximately $1 billion affecting North America business.

“organization. The Company expects that a majority of the store closures will be completed by the end of this fiscal year. The Company estimates that it will incur approximately $1 billion related to the store closures, support organization transformation, and other restructuring activities, with 90% of the expenses attributable to the North America business. The”

SPRUCE POWER HOLDING CORP announced a restructuring with charges of approximately $1 million (approximately 40 employees and contractors, representing approximately 19% of the Company’s workforce).

“who were informed of the reduction in force on September 24, 2025. In connection with the reduction in force, the Company estimates that it will incur charges of approximately $1 million, consisting primarily of cash expenditures for employee severance and related costs. The Company expects to recognize the majority of these charges in the third quarter of 2025.”

MAXCYTE, INC. announced a restructuring with charges of approximately $2.9 million affecting global workforce (approximately 34% of the Company’s workforce globally).

“On September 22, 2025, the Board of Directors of MaxCyte, Inc. approved a workforce reduction plan (the “Plan”) as part of the Company’s ongoing efforts to streamline operations, improve its cost structure, and align resources with strategic priorities. The Plan is expected to result in a reduction of approximately 34% of the Company’s workforce globally, which includes both directly employed personnel and individuals engaged through third-party employer-of-record (“EOR”) arrangements. ​ In connection with the implementation of the Plan, the Company currently estimates that it will incur an aggregate of approximately $2.9 million of pre-tax, cash charges.”

STANDARD BIOTOOLS INC. announced a restructuring with charges of approximately $7.5 million (approximately 15% of its total global workforce).

“The Company currently expects expenses related to the reduction-in-force, consisting primarily of cash severance and termination benefits and related costs, to be approximately $7.5 million. These estimates are subject to a number of assumptions, and actual results may differ. The Company may also incur additional costs not currently contemplated due to events that”

X4 Pharmaceuticals, Inc announced a restructuring with charges of approximately $3.3 million for severance and other employee termination-related costs affecting the Company (reduce its workforce by approximately 50%).

“On September 17, 2025, X4 Pharmaceuticals, Inc. (the “Company” or “X4”) announced a strategic restructuring designed to sharpen operational focus and align resources with the Company’s long‐term strategy to successfully complete the 4WARD Phase 3 trial in patients with moderate and severe chronic neutropenia. As part of this initiative, the Company will reduce its workforce by approximately 50%, a step anticipated to result in annualized cost savings of approximately $13 million. The Company estimates that the workforce reduction will be substantially completed in the third quarter of 2025. The Company estimates that it will incur cash charges of approximately $3.3 million for severance and other employee termination-related costs.”

Optimus Healthcare Services, Inc. announced a restructuring (a reduction in force).

“the Board approved certain wind down initiatives, including a reduction in force.”

First Internet Bancorp announced a impairment with charges of approximately $33.5 million affecting single-tenant lease financing loans portfolio.

“First Internet Bancorp (the “Company”) estimates that it will recognize an after-tax charge in the quarter ending September, 30, 2025 of approximately $33.5 million, representing difference between the sale price of the Portfolio and its book value upon transfer to held for sale status and the subsequent Sale.”

Asana, Inc. announced a impairment with charges of approximately $29 million to $32 million affecting leased headquarters office space in San Francisco, California.

“On September 5, 2025, the Company's management concluded that the Sublease will result in impairment expenses of approximately $29 million to $32 million in the period ending October 31, 2025.”

FIFTH THIRD BANCORP announced a impairment with charges of in the range of $170 million to $200 million affecting asset-backed finance loan.

“the Bancorp concluded that a material charge for impairment would result from this alleged external fraudulent activity. The outstanding balance on this loan is approximately $200 million. Based on currently available information, the Bancorp currently estimates that the non-cash impairment charge associated with this asset-backed finance loan, which would be”

Lunai Bioworks Inc. announced a impairment.

“management determined on September 2, 2025 that a material impairment of assets has occurred. The Company expects to record an impairment charge for the quarter ending September 30, 2025, however, is unable to make a good faith estimate of the same or the cash expenditures resulting from the impairment charge, if any, at the time of this filing.”

Cerence Inc. announced a restructuring with charges of approximately $7.2 to $7.9 million affecting certain foreign operations.

“On September 2, 2025, Cerence Inc. (the “Company”) announced a restructuring plan with respect to certain foreign operations intended to further reduce operating expenses and position the Company for profitable future growth (the “Plan”). The Company estimates that it will incur cash restructuring charges of approximately $7.2 to $7.9 million in connection with the Plan, primarily consisting of severance payments, payments in lieu of notice, employee benefits and related costs.”

STANDARD BIOTOOLS INC. announced a restructuring with charges of approximately $3.6 million affecting R&D function (reduction-in-force of certain U.S. employees in the Company’s R&D function, including members of its management team).

“The Company currently expects expenses related to the reduction-in-force, consisting primarily of cash severance and termination benefits and related costs, to be approximately $3.6 million, which includes approximately $0.9 million of non-cash expenses related to vesting of share-based awards. These estimates are subject to a number of assumptions, and actual”

GREEN DOT CORP announced a restructuring with charges of Total costs of approximately $22 million to $24 million, including $18 million severance and termination benefits, $3 million to $5 million contract termination affecting China operations (up to approximately 240 employees, representing approximately 22% of the Company's global workforce).

“On September 2, 2025, Green Dot Corporation (the “Company”) announced a plan to exit the Company's operational activities in China by the end of 2025 as a means of reducing complexity and promoting long-term structural improvements for its business. This action will impact up to approximately 240 employees, representing approximately 22% of the Company’s global workforce. The Company also anticipates closing certain facilities in connection with the exit plan. The Company expects this exit plan to result in an estimated annual total reduction in spending of $6 million to $7 million, primarily through lower operating expenses and reductions in capitalized internal-use software costs. These actions are expected to be completed in 2025. The Company estimates that it will incur total costs in connection with its exit plan of approximately $22 million to $24 million, of which approximately $18 million is expected to be for severance and termination benefits, $3 million to $5 million is expe”

J&J SNACK FOODS CORP announced a restructuring with charges of between $12 million and $20 million affecting certain of its manufacturing plants.

“On August 28, 2025, J & J Snack Foods Corp. committed to a plan to strategically optimize the Company’s manufacturing footprint through, among other things, the closure of certain of its manufacturing plants. The contemplated closures will include asset write-down and write-off charges, severance and related benefits costs, and other exit and disposal costs. In connection with the planned closures, the Company expects to record total pre-tax plant closure and related asset impairment charges of between $12 million and $20 million in our fiscal fourth quarter of 2025 and into our fiscal year 2026.”

Transocean Ltd. announced a impairment with charges of approximately $1.9 billion affecting rigs classified as held for sale: Discoverer Clear Leader, Discoverer Americas, Deepwater Champion, Henry Goodrich and Discoverer India, as well as certain assets primarily associated with these rigs.

“the Company expects its third quarter 2025 results to include an estimated non-cash charge of approximately $1.9 billion associated with the impairment of these assets.”

Sight Sciences, Inc. announced a restructuring with charges of cash restructuring charge of approximately $2.7 million to $3.0 million primarily in the third quarter of 2025, consisting mostly of one-time employee severance affecting global operations, with specific changes in the United Kingdom (reduce its headcount by 43 employees, or approximately 20% of its global workforce, including up to four UK-based employ).

“On August 27, 2025, Sight Sciences, Inc. (the “Company”) informed its employees that it is implementing a targeted plan, commencing immediately, intended to reduce operating expenses, improve cost efficiencies, and better align its operating structure for long-term, profitable growth (the “Plan”).”

Indivior Pharmaceuticals, Inc. announced a restructuring with charges of approximately $39 to $50 million of restructuring charges pre-tax, of which $27-$35 million will be cash affecting enterprise-wide (pre-tax employee severance and related employee exit charges of approximately $16 to $19 million).

“which will be recognized in the third quarter of 2025. As a result of this initial initiative related to Phase 1, the Company expects to recognize a total of approximately $39 to $50 million of restructuring charges pre-tax, of which $27-$35 million will be cash, and which are expected to be recognized in the third and fourth quarters of 2025. These”

INTERNATIONAL PAPER CO /NEW/ announced a impairment with charges of between approximately $700 million and $900 million affecting Global Cellulose Fibers (GCF) business.

“In connection with the Transaction, on August 20, 2025, the Company determined that it expects to incur a non-cash impairment charge between approximately $700 million and $900 million, as a result of the sale price compared to the estimate of the current net asset value of the GCF business.”

INTERNATIONAL PAPER CO /NEW/ announced a restructuring with charges of aggregate pre-tax noncash asset write-off and accelerated depreciation charges of approximately $400 million and aggregate pre-tax cash severance and other shut affecting Containerboard business (approximately 680 employees).

“The Company plans to permanently close its containerboard mill and packaging facility in Savannah, Georgia. The containerboard mill will shut down in stages with all operations expected to cease by September 30, 2025. The closure is expected to reduce the Company’s containerboard capacity by approximately 1,000,000 tons. The Company estimates that the closure will result in aggregate pre-tax noncash asset write-off and accelerated depreciation charges of approximately $400 million and aggregate pre-tax cash severance and other shutdown charges of approximately $81 million, and anticipates that these charges will be recorded during the three months ending September 30, 2025. The Company expects closure of the containerboard mill to reduce its workforce by approximately 680 employees.”

INTERNATIONAL PAPER CO /NEW/ announced a restructuring with charges of aggregate pre-tax noncash asset write-off and accelerated depreciation charges of approximately $170 million and aggregate pre-tax cash severance and other shut affecting Containerboard business (approximately 300 employees).

“The Company plans to permanently close its containerboard, timber and lumber mills in Riceboro, Georgia. The containerboard mill will shut down in stages with all operations expected to cease by September 12, 2025. The closure is expected to reduce the Company’s containerboard capacity by approximately 430,000 tons. The Company estimates that the closure will result in aggregate pre-tax noncash asset write-off and accelerated depreciation charges of approximately $170 million and aggregate pre-tax cash severance and other shutdown charges of approximately $77 million, and anticipates that these charges will be recorded during the three months ending September 30, 2025. The Company expects closure of the containerboard mill to reduce its workforce by approximately 300 employees.”

T-REX Acquisition Corp. announced a impairment affecting data center in Orofino, Idaho (the Center).

“On July 23, 2025, our data center in Orofino, Idaho (the “Center”) was burglarized resulting in the theft of sixty-six obsolescent and fully depreciated S19ASIC miners and a portion of the electrical panel that controls the flow of electricity to the various power distribution units.”

LANDSTAR SYSTEM INC announced a impairment with charges of up to a $5.0 million affecting minority equity investment in Cavnue, LLC.

“the Company determined that it intends to record up to a $5.0 million non-cash impairment charge, or $0.11 per share, in the 2025 third quarter related to the Company’s non-controlling investment in Cavnue”

LANDSTAR SYSTEM INC announced a impairment with charges of $9.0 million affecting Blue TMS (transportation management system).

“the Company intends to wind-down the Blue TMS and record a $9.0 million non-cash impairment charge, or $0.20 per share in the 2025 third quarter”

LANDSTAR SYSTEM INC announced a impairment with charges of approximately $13 million to $17 million affecting Landstar Metro, S.A.P.I. de C.V. (Mexican subsidiary).

“the Company expects to record a non-cash impairment charge to goodwill and certain other assets of approximately $13 million to $17 million, or $0.28 to $0.37 per share, in the aggregate during the 2025 third quarter”

FATE THERAPEUTICS INC announced a restructuring with charges of approximately $0.9 million to $1.2 million (approximately 12%).

“On August 7, 2025, the Company’s Board of Directors approved a corporate restructuring to streamline operations, reduce operating expenses, and extend cash runway (the “Restructuring”). In connection with the Restructuring, the Company committed to a reduction in total workforce by approximately 12% (the “RIF”). Affected employees were informed on August 12, 2025. The Company expects the RIF to be completed during the third quarter of 2025, and estimates that it will incur charges of approximately $0.9 million to $1.2 million for severance and other employee termination-related costs during the third quarter of 2025.”

Oric Pharmaceuticals, Inc. announced a restructuring with charges of approximately $1.9 million affecting discovery research group (approximately 20% workforce reduction).

“On August 12, 2025, the Company initiated a strategic pipeline prioritization to focus operational and financial resources on the continued advancement of its two lead clinical programs, ORIC-944 and ORIC-114. This initiative will result in a substantial decrease in preclinical research, primarily from the elimination of the Company’s discovery research group. This will result in an approximately 20% workforce reduction and the Company expects to incur a one-time cost of approximately $1.9 million primarily related to termination benefits, including severance and healthcare-related benefits.”

MARAVAI LIFESCIENCES HOLDINGS, INC. announced a restructuring with charges of $8.0 million to $9.0 million affecting the Company's workforce (approximately 25% of the Company's workforce).

“On August 11, 2025, the Company announced an organizational restructuring, including a workforce reduction, to reduce operating costs. The workforce reduction, which is being implemented as part of a strategic cost-reduction initiative, was committed to by management on August 8, 2025 and is expected to impact approximately 25% of the Company’s workforce. In connection with the workforce reduction, the Company currently estimates it will incur restructuring and related costs in the range of $8.0 million to $9.0 million, consisting primarily of employee severance and benefits costs, the majority of which the Company expects to recognize in the second half of 2025.”

CarGurus, Inc. announced a restructuring with charges of approximately $14.0 million to $19.0 million affecting CarOffer, LLC (CarOffer), including the Dealer-to-Dealer and Instant Max Cash Offer products.

“The Company expects to incur total expenditures in the range of approximately $14.0 million to $19.0 million”

Nextdoor Holdings, Inc. announced a restructuring with charges of approximately $5 million.

“On August 7, 2025, the Company announced a cost reduction plan to accelerate the Company’s focus and efficiency (the “Cost Reduction Plan”). The Company currently estimates that it will incur one-time charges of approximately $5 million in connection with the Cost Reduction Plan, consisting primarily of cash expenditures for notice period and severance payments, employee benefits, and related costs.”

ALLURION TECHNOLOGIES, INC. announced a restructuring with charges of approximately $1.5 million (approximately 70 employees, or approximately 65% of its workforce).

“employees between August 4, 2025 and August 6, 2025. As part of this Restructuring Plan, the Company expects to incur severance and severance-related charges of approximately $1.5 million. The Company’s estimated restructuring charges is based on a number of assumptions. Actual results may differ materially and the Company may also incur other charges or cash”

BEYOND MEAT, INC. announced a restructuring with charges of One-time cash charges of $0.8 million to $1.3 million primarily consisting of severance payments, employee benefits and related costs in connection with reducti affecting North America (44 employees).

“On August 6, 2025, management of the Company approved a plan to reduce the Company’s current workforce in North America by approximately 44 employees, representing approximately 6% of the Company’s total global workforce. This decision was based on cost-reduction initiatives intended to reduce cost of goods sold and operating expenses. The Company estimates that it will incur one-time cash charges of approximately $0.8 million to $1.3 million in connection with the reduction in force, primarily consisting of severance payments, employee benefits and related costs, in all cases, provided to departing employees.”

Traeger, Inc. announced a restructuring with charges of between approximately $6.0 million and $8.0 million affecting the Company’s operations; closure of its office located in the United Kingdom (a reduction in force).

“the Board of Directors of Traeger approved a comprehensive enterprise initiative designed to streamline the Company’s organizational structure and rebalance its cost base to improve profitability and cash flow generation. As part of this initiative, the Company plans to identify opportunities to deliver cost savings and efficiencies. These savings are expected to be achieved through a multi-step strategic optimization plan (“Project Gravity”), which includes a reduction in force and the centralization (“Phase 1”) and streamlining of the Company’s operations (“Phase 2”). As part of Project Gravity, the Company has conducted a reduction in force and certain other steps, including the closure of its office located in the United Kingdom, in order to centralize its operations in Utah. The Company expects to incur pre-tax charges and future cash expenditures related to currently known and reasonably estimable actions of Project Gravity of between approximately $6.0 million and $8.0 million (”

ESTEE LAUDER COMPANIES INC announced a restructuring with charges of approximately $747 million (before tax) affecting supply chain, research and development, corporate functions, and brand-led model functions.

“the Company expects to record cumulative restructuring and other charges of approximately $747 million (before tax) in connection with initiatives approved since inception of the Restructuring Program through July 30, 2025”

COLGATE PALMOLIVE CO announced a restructuring with charges of between $200 and $300 million affecting Corporate segment.

“The Productivity Program is projected to result in cumulative pre-tax charges, once all initiatives are approved and implemented, totaling between $200 and $300 million over the course of the three-year program.”

ROGERS CORP announced a impairment with charges of $67.3 million affecting curamik business in AES operating segment.

“The higher charges were primarily due to a non-cash goodwill impairment charge of $67.3 million, resulting from the lowered outlook for the curamik ® business in our AES operating segment.”

ROGERS CORP announced a restructuring with charges of $12.0 million to $20.0 million affecting curamik reporting unit in AES operating segment.

“costs and operating expenses in excess of $13.0 million on an annual run-rate basis. As a result of these intended actions, we expect to record expenses in the range of $12.0 million to $20.0 million, which are expected to comprise of employee severance costs, property, plant and equipment relocation and reinstallation costs, consulting fees and other”

Merck & Co., Inc. announced a restructuring with charges of approximately $3.0 billion affecting sales and administrative organizations, research and development, global real estate footprint, manufacturing network.

“expected to be substantially completed by the end of 2029. The cumulative pretax costs to be incurred by the Company to implement the program are estimated to be approximately $3.0 billion, of which approximately 60% will be cash, relating primarily to employee separation expense and contractual termination costs. The remainder of the costs will be non-cash,”

Adaptimmune Therapeutics PLC announced a restructuring with charges of approximately $7-8 million (approximately 62%).

“On July 28, 2025, Adaptimmune announced a restructuring to support the continued development by US WorldMeds of TECELRA, lete-cel, afami-cel and uza-cel and to maximize value from the Company’s remaining assets, including its PRAME and CD-70 directed T-cell therapies (the “Restructuring”). Following the Transaction, the Company plans to further reduce its remaining workforce by approximately 62%. The planned reduction in workforce is subject to consultation with employee representatives in the United Kingdom regarding the plan. The Company anticipates that the majority of the reduction in workforce will be completed during the third quarter of 2025. As a result of these actions, the Company expects to incur pre-tax costs, relating to employee severance and other employee related costs, of approximately $7-8 million.”

Quanterix Corp announced a restructuring with charges of approximately $2.5 million.

“savings relate to headcount reductions, which are expected to be substantially completed in the third quarter of 2025. The Company expects to incur expenses of approximately $2.5 million, substantially all of which will be cash expenditures incurred in 2025 for severance. The Company’s estimates are based on a number of assumptions. Actual results may differ”