Matthews cautions that the foregoing list of important factors is not all inclusive. The Company\'s shareholders are encouraged to review the contents of such website. The Memorialization segment also produces casket components. These products primarily are marketed directly by segment personnel. Ingot is obtained from various North American, European and Australian smelters. The primary materials required for casket manufacturing are cold-rolled steel and lumber. Lumber is purchased from a number of sawmills and lumber distributors. These are generally available in adequate supply from numerous suppliers. The Company owns a minority interest in distributors in Asia, Australia and Europe. Company-Specific Risk Factors:Foreign Operations. Changes in the Distribution of the Company\'s Products or the Loss of a Large Customer. Compliance with Foreign Laws and Regulations. General Risk Factors:Changes in Economic Conditions. Gary R. Kohl was appointed President, SGK Brand Solutions effective May 2017. He served as Treasurer since December 2014 when he joined the Company. The Company has a stock repurchase program. It assumes that dividends paid are invested in like securities. This measure may be useful to an investor in evaluating operating performance. 2) Represents costs associated with global ERP system integration efforts. ( incurred in response to COVID-19. The term loan requires scheduled quarterly principal payments through its maturity date. Borrowings under the Securitization Facility bear interest at LIBOR plus 0.75%. The notes matured in November 2019 at which point they were paid. The customer did not remit the funds to the U.K. Court as ordered. No such charges were recognized during the years presented. We conducted our audits in accordance with the standards of the PCAOB. We believe that our audits provide a reasonable basis for our opinion. Gains or losses from the disposition of assets are reflected in operating profit. The cost of maintenance and repairs is charged to expense as incurred. Lease classification is determined at lease commencement. Leases not meeting the finance lease criteria are classified as operating leases. All derivatives are held for purposes other than trading. The Company early adopted this ASU in the quarter ended March 31, 2020. In February 2017, the FASB issued ASU No. These ASUs do not change the core principles in the lease guidance outlined above. 2018-11 provides an additional transition method to adopt ASU No. The Company adopted the standard using the transition method as of October 1, 2019. This ASU replaces nearly all existing U.S. GAAP guidance on revenue recognition. Realized gains (losses) for fiscal 2020, 2019 and 2018 were not material. Other borrowings totaled $20,742 and $395 at September 30, 2020 and 2019, respectively. The Company issues restricted shares from treasury shares. The number of units that vest depend on certain time and performance thresholds. The value of deferred shares is recorded in other liabilities. The valuation information used by investment managers may not be readily observable. If not used, state net operating losses will begin to expire in 2021. Annual sales for this business were approximately $31,000 prior to the acquisition. ITEM 9B. OTHER INFORMATION.None.78PART IIIITEM 10. The terms of office of the three classes of directors end in successive years. Acceptance of such resignation is at the discretion of the Company Board. In addition, certain provis
