Armstrong World Industries(US:AWI)2024-02-19 16:00Employment and Workforce - The company had approximately 3,100 full-time and part-time employees as of December 31, 2023, with a voluntary turnover rate of about 8% for non-production employees and 11% for production employees [45]. - The executive leadership team included 33% gender diversity and 33% racial/ethnic diversity as of December 31, 2023 [48]. - The company has collective bargaining agreements covering approximately 470 employees at two U.S. plants that will expire during 2024 [45]. Financial Management - As of December 31, 2023, the company had interest rate swaps outstanding with notional amounts totaling $400 million to manage interest rate volatility [187]. - A hypothetical increase of 0.25% in SOFR interest rates would raise the company's 2024 interest expense by approximately $0.7 million [187]. - The average interest rate for variable rate principal payments is 3.31% as of December 31, 2023 [190]. Environmental and Sustainability Initiatives - The company reported liabilities for environmental matters of $0.5 million as of December 31, 2023 [53]. - The company is committed to sustainability, focusing on reducing greenhouse gas emissions and improving product circularity [42]. - The company’s sustainability program is organized around three pillars: People, Planet, and Product [40]. Innovation and Growth - The company has engaged in product innovation activities to enhance competitiveness and support growth [49].