What The Toro Company told the SEC could break it.

Toro's primary commodity cost exposures for the components and parts used in its outdoor equipment are steel, aluminum, petroleum and natural gas, leaving margins exposed to swings in those input prices.

“Our primary cost exposures for commodities, components, parts, and accessories used in our products are with steel, aluminum, petroleum and natural gas.”

U.S. tariffs and antidumping/countervailing duties on imports from China — including certain engines imported into the U.S. from China — have impacted the availability and price of commodities, components, parts and accessories Toro uses in its products.

“antidumping and countervailing duties on certain products imported from foreign countries, including certain engines imported into the U.S. from China.”

While most of Toro's inputs are available from multiple sources, certain commodities, components, parts or accessories are sourced from single suppliers, which has limited and could continue to limit availability.

“while most of our commodities, components, parts, or accessories are generally commercially available from a number of sources, certain items are sourced from single suppliers”