Currently, over half of the industry's market consists of replacement units. When new construction is down, we emphasize the replacement market. Our products and sales strategy focuses on niche markets. We also have factory service organizations at each of our plants. All of these competitors are substantially larger and have greater resources than we do. This has become a critical factor in competing in the HVAC equipment industry. AAON recycled over 11,741 tons of metal in 2020. Risks Related to Our BusinessOur business can be hurt by economic conditions. We may not be able to successfully recruit, develop, and retain the personnel we need. We may not be able to successfully develop and market new products. We risk having losses resulting from the use of non-cancellable fixed price contracts. Our plant and office facilities in Tulsa, Oklahoma, consist of a 342,000 sq. of manufacturing/warehouse space and 15,000 sq. of office space) located on a 13-acre tract of land at 203-207 Gum Springs Road. This facility is located West of the 940,000 sq. Management's Discussion and Analysis of Financial Condition and Results of Operations. The new construction market in 2020 continued to be unpredictable and uneven. As shown below, our average raw material prices decreased from 2018 to 2019. Our profit sharing expenses increased due to higher earnings. Interest on borrowings is payable monthly at LIBOR plus 2.0%. All other repurchases from directors or employees are contingent upon Board approval. Forfeitures are accounted for as they occur. We consider the applicability and impact of all ASUs. The ASU is effective for the Company beginning after December 15, 2020. We believe that our audits provide a reasonable basis for our opinion. These manual adjustments have been identified as a critical audit matter. The Company did see significant employee absenteeism in the latter part of June 2020. Additionally, our work force has adapted well to school and childcare related issues. Accounts and Note ReceivableWe adopted ASU No. We generally do not require that our customers provide collateral. No other customer accounted for more than 10% of our sales during 2020, 2019, and 2018. 2018-13, Fair Value Measurements (Topic 820), as amended, as of January 1, 2020. There was not a material impact to financial statements upon adoption. Goodwill is not amortized, but instead is evaluated for impairment at least annually. The impact at adoption was not material to the consolidated financial statements. Final sales prices are fixed based on purchase orders. The Representatives submit the total order price to us for invoicing and collection. The Company also hired substantially all of the WattMaster employees. We funded the business combination with available cash of $6.0 million. The standard did not materially impact our consolidated net earnings or cash flows. At December 31, 2020 and 2019, there was no impairment.10. The Company has an obligation to replace parts if conditions under the warranty are met. No fees are associated with the unused portion of the committed amount. The revolving credit facility expires on July 26, 2021. Membership on the Committee is limited to independent directors. As such, this information is not included below. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure. /s/ GRANT THORNTON LLPTulsa, OklahomaFebruary 25, 2021 58Item 9B. Other Information. 333-212863 dated August 2, 2016, our Form S-8 Regi