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Wiki	Wiki Summary
Life Insurance Corporation	Life Insurance Corporation of India (LIC) is an Indian statutory insurance and investment corporation headquartered in the city of Mumbai, India. It is under the ownership of Government of India.
Defence mechanism	In psychoanalytic theory, a defence mechanism (American English: defense mechanism), is an unconscious psychological operation that functions to protect a person from anxiety-producing thoughts and feelings related to internal conflicts and outer stressors.Defence mechanisms may result in healthy or unhealthy consequences depending on the circumstances and frequency with which the mechanism is used. Defence mechanisms (German: Abwehrmechanismen) are psychological strategies brought into play by the unconscious mind to manipulate, deny, or distort reality in order to defend against feelings of anxiety and unacceptable impulses and to maintain one's self-schema or other schemas.
The Day the Music Died	On February 3, 1959, American rock and roll musicians Buddy Holly, Ritchie Valens, and "The Big Bopper" J. P. Richardson were killed in a plane crash near Clear Lake, Iowa, together with pilot Roger Peterson. The event later became known as "The Day the Music Died" after singer-songwriter Don McLean referred to it as such in his 1971 song "American Pie".
Decree nisi	A decree nisi or rule nisi (from Latin nisi 'unless') is a court order that will come into force at a future date unless a particular condition is met. Unless the condition is met, the ruling becomes a decree absolute (rule absolute), and is binding.
Automotive industry	The automotive industry comprises a wide range of companies and organizations involved in the design, development, manufacturing, marketing, and selling of motor vehicles. It is one of the world's largest industries by revenue (from 16 % such as in France up to 40 % to countries like Slovakia).
Arithmetic	Arithmetic (from Ancient Greek ἀριθμός (arithmós) 'number', and τική [τέχνη] (tikḗ [tékhnē]) 'art, craft') is an elementary part of mathematics that consists of the study of the properties of the traditional operations on numbers—addition, subtraction, multiplication, division, exponentiation, and extraction of roots. In the 19th century, Italian mathematician Giuseppe Peano formalized arithmetic with his Peano axioms, which are highly important to the field of mathematical logic today.
Special Activities Center	The Special Activities Center (SAC) is a division of the Central Intelligence Agency responsible for covert operations and paramilitary operations. The unit was named Special Activities Division (SAD) prior to 2015.
Emergency operations center	An emergency operations center (EOC) is a central command and control facility responsible for carrying out the principles of emergency preparedness and emergency management, or disaster management functions at a strategic level during an emergency, and ensuring the continuity of operation of a company, political subdivision or other organization.\nAn EOC is responsible for strategic direction and operational decisions and does not normally directly control field assets, instead leaving tactical decisions to lower commands.
Operation (mathematics)	In mathematics, an operation is a function which takes zero or more input values (called operands) to a well-defined output value. The number of operands (also known as arguments) is the arity of the operation.
Profit (economics)	An economic profit is the difference between the revenue a commercial entity has received from its outputs and the opportunity costs of its inputs. It equals to total revenue minus total cost, including both explicit and implicit costs.
Profitability analysis	In cost accounting, profitability analysis is an analysis of the profitability of an organisation's output. Output of an organisation can be grouped into products, customers, locations, channels and/or transactions.
Profitable growth	Profitable Growth is the combination of profitability and growth, more precisely the combination of Economic Profitability and Growth of Free cash flows. Profitable growth is aimed at seducing the financial community; it emerged in the early 80s when shareholder value creation became firms’ main objective.
Return on equity	The return on equity (ROE) is a measure of the profitability of a business in relation to the equity. Because shareholder's equity can be calculated by taking all assets and subtracting all liabilities, ROE can also be thought of as a return on assets minus liabilities.
Holding company	A holding company is a company whose primary business is holding a controlling interest in the securities of other companies. A holding company usually does not produce goods or services itself.
The Pokémon Company	The Pokémon Company (株式会社ポケモン, Kabushiki gaisha Pokémon) is a Japanese company responsible for brand management, production, publishing, marketing and licensing of the Pokémon franchise, which consists of video game software, a trading card game, anime television series, films, manga, home entertainment products, merchandise, and other ventures. It was established through a joint investment by the three businesses holding the copyright of Pokémon: Nintendo, Game Freak, and Creatures.
The Weather Company	The Weather Company is a weather forecasting and information technology company that owns and operates weather.com and Weather Underground. The Weather Company has been a subsidiary of the Watson & Cloud Platform business unit of IBM since 2016.
The Honest Company	The Honest Company, Inc. is an American consumer goods company, founded by actress Jessica Alba.
Privately held company	A privately held company or private company is a company which does not offer or trade its company stock (shares) to the general public on the stock market exchanges, but rather the company's stock is offered, owned and traded or exchanged privately or over-the-counter. In the case of a close corporation, there are a relatively small number of shareholders or company members.
Adverse possession	Adverse possession, sometimes colloquially described as "squatter's rights", is a legal principle in the Anglo-American common law under which a person who does not have legal title to a piece of property—usually land (real property)—may acquire legal ownership based on continuous possession or occupation of the property without the permission (licence) of its legal owner. The possession by a person is not adverse if they are in possession as a tenant or licensee of the legal owner.
Business-to-business	Business-to-business (B2B or, in some countries, BtoB) is a situation where one business makes a commercial transaction with another. This typically occurs when:\n\nA business is sourcing materials for their production process for output (e.g., a food manufacturer purchasing salt), i.e.
Small business	Small businesses are corporations, partnerships, or sole proprietorships which have fewer employees and/or less annual revenue than a regular-sized business or corporation. Businesses are defined as "small" in terms of being able to apply for government support and qualify for preferential tax policy varies depending on the country and industry.
Family business	A family business is a commercial organization in which decision-making is influenced by multiple generations of a family, related by blood or marriage or adoption, who has both the ability to influence the vision of the business and the willingness to use this ability to pursue distinctive goals. They are closely identified with the firm through leadership or ownership.
Business intelligence	Business intelligence (BI) comprises the strategies and technologies used by enterprises for the data analysis and management of business information. Common functions of business intelligence technologies include reporting, online analytical processing, analytics, dashboard development, data mining, process mining, complex event processing, business performance management, benchmarking, text mining, predictive analytics, and prescriptive analytics.
Adverse food reaction	An adverse food reaction is an adverse response by the body to food or a specific type of food.The most common adverse reaction is a food allergy, which is an adverse immune response to either a specific type or a range of food proteins.\nHowever, other adverse responses to food are not allergies.
Adverse party	An adverse party is an opposing party in a lawsuit under an adversary system of law. In general, an adverse party is a party against whom judgment is sought or "a party interested in sustaining a judgment or decree." For example, the adverse party for a defendant is the plaintiff.
Hostile witness	A hostile witness, also known as an adverse witness or an unfavorable witness, is a witness at trial whose testimony on direct examination is either openly antagonistic or appears to be contrary to the legal position of the party who called the witness. This concept is used in the legal proceedings in the United States, and analogues of it exist in other legal systems in Western countries.
Alisher Usmanov	Alisher Burkhanovich Usmanov (Russian: Алишер Бурханович Усманов; born 9 September 1953) is an Uzbek-born Russian businessman and oligarch. By 2022, Usmanov had an estimated net worth of $19.5 billion and was among the world's 100 wealthiest people.Usmanov made his wealth after the collapse of the Soviet Union, through metal and mining operations, and investments.
Synchroscope	In AC electrical power systems, a synchroscope is a device that indicates the degree to which two systems (generators or power networks) are synchronized with each other.For two electrical systems to be synchronized, both systems must operate at the same frequency, and the phase angle between the systems must be zero (and two polyphase systems must have the same phase sequence). Synchroscopes measure and display the frequency difference and phase angle between two power systems.
Legal liability	In law, liable means "responsible or answerable in law; legally obligated". Legal liability concerns both civil law and criminal law and can arise from various areas of law, such as contracts, torts, taxes, or fines given by government agencies.
Liability insurance	Liability insurance (also called third-party insurance) is a part of the general insurance system of risk financing to protect the purchaser (the "insured") from the risks of liabilities imposed by lawsuits and similar claims and protects the insured if the purchaser is sued for claims that come within the coverage of the insurance policy.\nOriginally, individual companies that faced a common peril formed a group and created a self-help fund out of which to pay compensation should any member incur loss (in other words, a mutual insurance arrangement).
Limited liability company	A limited liability company (LLC) is the US-specific form of a private limited company. It is a business structure that can combine the pass-through taxation of a partnership or sole proprietorship with the limited liability of a corporation.
Equity (finance)	In finance, equity is ownership of assets that may have debts or other liabilities attached to them. Equity is measured for accounting purposes by subtracting liabilities from the value of the assets.
Formula One regulations	The numerous Formula One regulations, made and enforced by the FIA and later the FISA, have changed dramatically since the first Formula One World Championship in 1950. This article covers the current state of F1 technical and sporting regulations, as well as the history of the technical regulations since 1950.
Regulation (European Union)	A regulation is a legal act of the European Union that becomes immediately enforceable as law in all member states simultaneously. Regulations can be distinguished from directives which, at least in principle, need to be transposed into national law.

Risk Factors
ALAMO GROUP INC Item 1A Risk Factors You should carefully consider each of the risks described below, together with all of the other information contained in this Annual Report on Form 10-K, before making an investment decision with respect to the Companyapstas securities
If any of the following risks develop into actual events, the Companyapstas business, financial condition or results from operations could be materially and adversely affected and you could lose all or part of your investment
Deterioration of industry conditions could harm the Companyapstas business and prospects
The prospects for the Company depend to a large extent upon the prospects for the mowing, right-of-way maintenance and agricultural markets in general
Future prospects of the industry depend largely on factors outside of the Companyapstas control
These factors include general economic conditions, levels of interest rates, commodity prices, domestic and foreign governmental policies and the value of the dollar, as well as factors that specifically affect agricultural customer spending patterns, including animal disease outbreaks and weather patterns
A downturn in general economic conditions may adversely affect the Companyapstas results of operations
The strength and profitability of the Companyapstas business depends on the overall demand for the Companyapstas products
Revenues are sensitive to general economic conditions and are influenced by consumer confidence in the economy and other factors
A recession or downturn in the general economy, or in a region constituting a significant source of customers for the Companyapstas products, could result in fewer customers purchasing the Companyapstas products, which would adversely affect the Companyapstas results of operations
The Company depends on government sales
A substantial portion of the Companyapstas revenues are derived from sales to federal, state and local governmental entities
These sales depend primarily on the levels of budgeted and appropriated expenditures for highway, airport, roadside and parks maintenance by various governmental entities and generally have been affected by changes in local and national economic conditions
During previous economic downturns, such governmental entities also have used chemical control of vegetation, although environmental concerns have adversely affected chemical control efforts
The Companyapstas dependence on, and the price and availability of, raw materials (such as steel and fuel) may adversely affect the Companyapstas profits
The Company is exposed to fluctuations in market prices for commodities, such as steel and energy
In recent years, the prices of various raw materials have increased significantly, and the Company has been unable to avoid exposure to global price fluctuations and supply limitations, such as occurred in 2004 and 2005 with the cost and availability of steel and fuel, and related products
If the Company is unable to purchase the raw materials the Company requires or is unable to pass on price increases to the Companyapstas customers, the Companyapstas future profitability may be adversely affected
The Company operates in a highly competitive industry
The Companyapstas products are sold in highly competitive markets throughout the world
The Company competes with several large national and international companies that offer a broad range of equipment competitive with the Company, as well as numerous small, privately-held manufacturers and suppliers of a limited number of equipment products
Some of the Companyapstas competitors are significantly larger than the Company and have substantially greater financial and other resources at their disposal
There can be no assurance that such competitors will not substantially increase the resources devoted to the development and marketing of products competitive with those of the Company
See &quote Competition &quote in Part I, Item 1 above
12 ______________________________________________________________________ The Company operates and sources internationally, which exposes the Company to the risks of doing business abroad
The Company has operations in a number of countries outside of the United States
The Companyapstas foreign operations are subject to the risks normally associated with conducting business in foreign countries, including: - limitations on ownership and on repatriation of earnings; - import and export restrictions and tariffs; - additional expenses relating to the difficulties and costs of staffing and managing international operations; - labor disputes and uncertain political and economic environments and the impact of foreign business cycles; - change in laws or policies of a foreign country; - delays in obtaining or the inability to obtain necessary governmental permits; - potentially adverse consequences resulting from the applicability of foreign tax laws; - cultural differences; and - increased expenses due to inflation; - changes in currency exchange rates
The Companyapstas foreign operations may also be adversely affected by laws and policies of the United States and the other countries in which the Company operates affecting foreign trade, investment and taxation
The Company may be unable to complete or integrate acquisitions effectively, which may adversely affect its profitability and results of operations
The Company intends to grow through the acquisition of businesses and assets that will complement its current businesses
To date, a material portion of our growth has come through acquisitions
The Company cannot be certain that it will be able to identify attractive acquisition targets, obtain financing for acquisitions on satisfactory terms or successfully acquire identified targets
Additionally, the Company may not be successful in integrating acquired businesses into its existing operations and achieving projected synergies
Competition for acquisition opportunities in the various industries in which the Company operates may rise, thereby increasing our costs of making acquisitions or causing us to refrain from making further acquisitions
These and other acquisition-related factors may negatively and adversely impact our growth, profitability and results of operations
Businesses the Company may acquire in the future may not perform as expected
The Company may be adversely affected if businesses that the Company acquires in the future do not perform as expected
An acquired business could perform below the Companyapstas expectations for a number of reasons, including legislative or regulatory changes that affect the areas in which the acquired business specializes, the loss of customers and dealers, general economic factors that directly affect the acquired business and the cultural incompatibility of its management team or business with the Company
Any or all of these reasons could adversely affect the Companyapstas financial position and results of operations
In addition, the Company could face many challenges to integrating an acquired business, including eliminating redundant operations, facilities and systems, coordinating management and personnel, retaining key employees, managing different corporate cultures and achieving cost reductions and cross-selling opportunities
The Company cannot assure you that the Company will be able to meet these challenges in the future to the extent the Company acquires other businesses
The mowing and growth maintenance industry is seasonal and affected by the weather, and seasonal fluctuations may cause the Companyapstas results of operations and working capital to fluctuate from quarter to quarter
In general, major customers tend to purchase the Companyapstas equipment during the first and second calendar quarters
Other products such as street sweepers, excavators, snow blowers, front-end loaders and pothole patchers have different seasonal patterns as do replacement parts in general
Agricultural and governmental end-users typically purchase new equipment during the first and second calendar quarters
Weather conditions and general economic conditions, however, may affect the timing of purchases
In order to achieve efficient utilization of manpower and facilities throughout the year, the Company estimates seasonal demand months in advance and manufacturing capacity is scheduled in anticipation of such demand
The Company utilizes a rolling twelve-month sales forecast provided by the Companyapstas marketing divisions and order backlog in order to develop a production plan for its manufacturing facilities
Additionally, many of the Companyapstas marketing divisions attempt to equalize demand for its products throughout the calendar year by offering seasonal sales programs which may provide additional incentives, including discounts and extended payment terms, on equipment that is ordered during off-season periods
13 ______________________________________________________________________ If the Company does not retain key personnel and attract and retain other highly skilled employees, the Companyapstas business will suffer
The Companyapstas continued success will depend, among other things, on the efforts and skills of its executive officers, including the Companyapstas chief executive officer and president, and the Companyapstas ability to attract and retain additional highly qualified managerial, technical, manufacturing and sales and marketing personnel
We do not maintain &quote key man &quote life insurance for any of the Companyapstas employees, and all of the Companyapstas senior management are employed at will
The Company cannot assure you that the Company will be able to attract and hire suitable replacements for any of the Companyapstas key employees
The Company believes the loss of a key executive officer or other key employee could have a material adverse effect on the Companyapstas business operations
The Company is subject on an ongoing basis to the risk of litigation arising in the ordinary course of business
Like other manufacturers, the Company is subject to various claims, including product liability claims, arising in the ordinary course of business, and is a party to various legal proceedings that constitute ordinary routine litigation incidental to the Companyapstas business
The Company may be exposed to product liability claims in the event that the use of the Companyapstas products results, or is alleged to result, in bodily injury and/or property damage
The Company cannot assure you that the Company will not experience any material product liability losses in the future or that the Company will not incur significant costs to defend such claims
While the Company currently has product liability insurance, the Company cannot assure you that the Companyapstas product liability insurance coverage will be adequate for any liabilities that may ultimately be incurred or that it will continue to be available on terms acceptable to the Company
A successful claim brought against the Company in excess of available insurance coverage or a requirement to participate in a product recall may have a materially adverse effect on the Companyapstas business
The Company is subject to environmental, health and safety and employment laws and regulations and related compliance expenditures and liabilities
Like other manufacturers, the Company is also subject to a broad range of federal, state, local and foreign laws and requirements, including those governing discharges to the air and water, the handling and disposal of solid and hazardous substances and wastes, the remediation of contamination associated with releases of hazardous substances at the Companyapstas facilities and offsite disposal locations, workplace safety and equal employment opportunities
The Companyapstas policy is to comply with all applicable environmental, health and safety and other laws and regulations, and the Company believes it is currently in material compliance with all such applicable laws and regulations
These laws and regulations are constantly changing, and it is impossible to predict with accuracy the effect that changes to such laws and regulations may have on the company in the future
Like other industrial concerns, the Companyapstas manufacturing operations entail the risk of noncompliance, and there can be no assurance that the Company will not incur material costs or other liabilities as a result thereof
The Company knows that its Indianola, Iowa property is contaminated with chromium which likely resulted from chrome plating operations which were discontinued several years before the Company purchased the property
Chlorinated volatile organic compounds have been detected in water samples on the property
The Company has been voluntarily working with an environmental consultant and the state of Iowa with respect to these issues and will take appropriate measures to remediate the property if necessary
The amount of potential liability has been estimated by an independent environmental engineering company to be between dlra100cmam000 and dlra250cmam000 and the Company has an environmental reserve of dlra194cmam000 as of December 31, 2005
The Company has incurred and will continue to incur capital and other expenditures to comply with the laws and regulations applicable to its operations
In particular, if the Company fails to comply with any environmental regulations, then the Company could be subject to future liabilities, fines or penalties or the suspension of production at the Companyapstas manufacturing facilities
If unexpected obligations at these or other sites or more stringent environmental laws are imposed in the future, the Companyapstas future profitability may be adversely affected
14 ______________________________________________________________________ Fluctuations in currency exchange rates may adversely affect the Companyapstas financial results
The Companyapstas earnings are affected by fluctuations in the value of the US dollar as compared to foreign currencies, predominately in European countries, Canada and Australia, as a result of the sale of its products in international markets
While the Company does hedge against the earnings effects of such fluctuations to an extent (primarily in the UK market), no assurance can be given as to the future valuation of foreign currencies or how further movements could affect future earnings or the financial position of the Company
Certain shareholders own a significant amount of the Companyapstas common stock
Third Avenue Management LLC and Capital Southwest Venture Corporation, a subsidiary of Capital Southwest Corporation, beneficially own approximately 32dtta1prca and 29dtta0prca respectively, of the outstanding common stock of the Company
As a result, either of them alone will be able to significantly influence the direction of the Company, the election of the Board of Directors of the Company and the outcome of any other matter requiring shareholder approval, including mergers, consolidations and the sale of all or substantially all of the assets of the Company, and together with others, to prevent or cause a change in control of the Company