Allison Transmission Holdings
36 named things its latest annual report says its results depend on, each in the company's own words. 21 of them are also named by other companies we've read.
Customers
U.S. Department of Defense
earns from · $ 267named as a riskWe have had a long-standing relationship with the U.S. Department of Defense (the “DOD”) since the 1940s, when we began developing our first-generation tank transmission.Business (Item 1)
Also named by ACN, AVAV, CLS, CRWD, FLR, HEI, JCI, LMT and 12 more
PACCAR Inc.
earns from · 11%named as a riskOur top three customers, Daimler AG, PACCAR Inc. and Traton SE, accounted for approximately 18%, 11% and 10%, respectively, of our net sales during 2025.Risk factors (Item 1A)
Also named by CMI
Daimler AG
earns from · approximately 18%named as a riskOur top three customers, Daimler AG, PACCAR Inc. and Traton SE, accounted for approximately 18%, 11% and 10%, respectively, of our net sales during 2025.Risk factors (Item 1A)
Traton SE
earns from · 10%named as a riskOur top three customers, Daimler AG, PACCAR Inc. and Traton SE, accounted for approximately 18%, 11% and 10%, respectively, of our net sales during 2025.Risk factors (Item 1A)
Top five OEM customers
concentrated in · approximately 52%named as a riskFor the years ended December 31, 2025, 2024 and 2023, our top five OEM customers accounted for approximately 52%, 55% and 52% of our net sales, respectively.Risk factors (Item 1A)
Suppliers
Component suppliers (single source)
depends on · approximately 75% of our total spending on componentsnamed as a riskIn 2025, approximately 75% of our total spending on components was sourced from approximately 40 suppliers, many of which are the single source for such components.Risk factors (Item 1A)
Partners and platforms
Independent distributor and dealer network
depends on · approximately 1,500named as a riskWe work with a network of approximately 1,500 independent distributors and dealers (as of December 31, 2025) that provide post-sale service, service parts and support equipment.Risk factors (Item 1A)
General Motors Company (GM)
depends onnamed as a riskGeneral Motors Company (“GM”) has granted us an irrevocable, perpetual, royalty-free, worldwide license under a large number of U.S. and foreign patents and patent applications, as well as certain unpatented technology and know-how, to design, develop, manufacture, use and sell fully automatic transmissions and electric hybrid propulsion solutions for use in certain vocational vehicles, defense vehicles and off-road products.Risk factors (Item 1A)
Stellantis N.V.
depends onMost of our operations were in the U.S. in 2025, but we also have manufacturing and customization facilities in India and Hungary with a services agreement with Stellantis N.V. and customization capability in Brazil, the Netherlands, China and Japan, and, effective January 1, 2026, manufacturing and assembly facilities located in approximately 14 additional countries as a result of the acquisition of the Acquired Off-Highway Business.Risk factors (Item 1A)
Other companies
United Steelworkers (USW)
approximately 68%named as a riskIn addition, approximately 68% of the U.S. employees that were acquired with the Acquired Off-Highway Business are represented by the UAW or the USW and are subject to collective bargaining agreements.Risk factors (Item 1A)
Acquired Off-Highway Business (Dana)
approximately 46 manufacturing and assembly plantsnamed as a riskAs part of the acquisition of the Acquired Off-Highway Business, we acquired approximately 46 manufacturing and assembly plants, in addition to certain other facilities, which facilities will produce our Allison Off-Highway Drive & Motion Systems products.Business (Item 1)
International Union, United Automobile, Aerospace and Agricultural Implement Workers of America (UAW)
approximately 49% of our U.S. employeesnamed as a riskAs of December 31, 2025, approximately 49% of our U.S. employees, representing approximately 43% of our total employees, were represented by the UAW and are subject to a collective bargaining agreement.Risk factors (Item 1A)
Competitors
Caterpillar Inc.
competes withCompetition in this end market for 2025 included Caterpillar Inc. (“Caterpillar”), Twin Disc, Inc. (“Twin Disc”) and certain alternative hydraulic fracturing technologies.Business (Item 1)
ZF Friedrichshafen AG
competes withWe often compete in this market against (i) independent manufacturers of manual transmissions, AMTs and electric hybrid and fully electric propulsion solutions, (ii) fully automatic transmissions manufactured by Ford Motor Company (“Ford”), ZF Friedrichshafen AG (“ZF”) and Driventic GmbH (“Driventic”) and (iii) vertically integrated OEMs in certain weight classes that use their own internally manufactured transmissions in certain vehicles.Business (Item 1)
Also named by PCAR
BAE Systems plc
competes withWe compete primarily with BAE Systems plc in the transit market segment.Business (Item 1)
Renk AG
competes withGlobally, we face competition primarily from QinetiQ Group plc, Renk AG/Renk America, SAPA S.p.A and ST Kinetics for the supply of tracked vehicle propulsion solutions.Business (Item 1)
Places
Indianapolis, Indiana
concentrated in · approximately 85% of our transmissionsnamed as a riskOur most significant concentration of manufacturing is around our corporate headquarters in Indianapolis, Indiana, where we produced approximately 85% of our transmissions in 2025.Risk factors (Item 1A)
Outside North America
earns from · approximately 24% of our net salesnamed as a riskOutside-North America net sales represented approximately 24% of our net sales for 2025.Risk factors (Item 1A)
North America
earns from · approximately 76% of our revenuesWe have a global presence by serving customers in North America, Asia, Europe, South America, and Africa, with approximately 76% of our revenues being generated in North America in 2025.Business (Item 1)
Also named by AOS, BMI, CAG, CAT, CHRW, CLS, CPB, CW and 19 more
Russia
named as a riskIn addition, while we have suspended indefinitely all sales and exports of our products to customers in Russia and Belarus and Russian and Belarusian affiliate owned or controlled entities, certain of our competitors have continued to sell products in Russia during this time, which may have a negative impact on our long-term sales opportunities in Russia.Risk factors (Item 1A)
Also named by ATR, AVY, AXP, BKR, BSX, C, CDNA, CEG and 50 more
Chennai, India
operates innamed as a riskOur long-term growth strategy depends in part on an increased rate of automaticity outside North America.Risk factors (Item 1A)
Szentgotthard, Hungary
operates inOur high volume on-highway products are produced in multiple global locations (United States, Chennai, India and Szentgotthard, Hungary), while off-highway products are produced in Indianapolis and Chennai, India.Business (Item 1)
Auburn Hills, Michigan
operates inOur electric hybrid propulsion and defense tracked products are also produced in Indianapolis, and fully electric propulsion solutions are produced in Auburn Hills, Michigan.Business (Item 1)
Hazards
Red Sea crisis
named as a riskAn increase in the cost or a sustained interruption in the supply or shortage of some of these raw materials or components that may be caused by a deterioration of our relationships with suppliers, adverse geopolitical events such as the crisis in the Red Sea, events such as natural disasters and extreme weather events, which may increase in frequency and intensity as a result of climate change, power outages, labor strikes and public health crises, such as pandemics and epidemics, could negatively impact our business, results of operations and financial condition.Risk factors (Item 1A)
Commodities and inputs
Aluminum
exposed to its price · approximately $7 millionnamed as a riskAssuming the levels of commodity purchases as of December 31, 2025, a 10% variation in the price of aluminum and steel would correspondingly change our earnings by approximately $7 million and $11 million per year, respectively.Market risk (Item 7A)
Also named by AAON, ACHR, AYI, BA, BALL, BF/B, BWA, CAG and 59 more
Steel
exposed to its price · $11 millionnamed as a riskAssuming the levels of commodity purchases as of December 31, 2025, a 10% variation in the price of aluminum and steel would correspondingly change our earnings by approximately $7 million and $11 million per year, respectively.Market risk (Item 7A)
Also named by AAON, AGX, AM, AME, AMRC, AOS, APD, APG and 104 more
Chinese Yuan Renminbi, Euro, Indian Rupee, Japanese Yen
exposed to its price · $5 million per yearnamed as a riskAssuming the levels of foreign currency transactions as of December 31, 2025, a 10% aggregate increase or decrease in the Chinese Yuan Renminbi, Euro, Indian Rupee, and Japanese Yen would correspondingly change our earnings, net of tax, by an estimated $5 million per year.Market risk (Item 7A)
Nickel
exposed to its pricenamed as a riskVolatility in the prices of raw materials such as steel, aluminum and nickel could increase the cost of manufacturing our products.Risk factors (Item 1A)
Also named by ATI, BWA, CRS, FLS, HON, HWM, LNG, MOD and 4 more
Corrosion-resistant steel
depends onnamed as a riskFurthermore, there are only a limited number of suppliers for certain of the materials used in our business, such as corrosion-resistant steel.Risk factors (Item 1A)
Regulators
Laws and programs
International Traffic in Arms Regulations
subject tonamed as a riskThe laws and regulations to which we are subject include, but are not limited to, Export Administration Regulations, the Federal Acquisition Regulation, International Traffic in Arms Regulations, regulations from the Bureau of Alcohol, Tobacco, Firearms and Explosives and the FCPA in the U.S., as well as the regulations and laws applicable to government contracting in countries outside the U.S.Risk factors (Item 1A)
Also named by ACHR, ADI, AIR, APH, AVAV, CDRE, CLS, COHR and 29 more
Federal Acquisition Regulation
subject tonamed as a riskThe laws and regulations to which we are subject include, but are not limited to, Export Administration Regulations, the Federal Acquisition Regulation, International Traffic in Arms Regulations, regulations from the Bureau of Alcohol, Tobacco, Firearms and Explosives and the FCPA in the U.S., as well as the regulations and laws applicable to government contracting in countries outside the U.S.Risk factors (Item 1A)
Also named by ACN, AIR, ASTS, AXON, BWXT, CACI, CDRE, CLS and 12 more
Comprehensive Environmental Response, Compensation, and Liability Act
subject tonamed as a riskWe or our predecessors have been named potentially responsible parties at contaminated sites from time to time.Risk factors (Item 1A)
Also named by AME, BRK/B, BWA, CLH, CMI, DD, GIS, GVA and 10 more
European Union Corporate Sustainability Reporting Directive
subject tonamed as a riskWe are experiencing increased compliance burdens and costs in addressing our obligations under these new legal and regulatory obligations, and these new legal and regulatory obligations may adversely affect raw material sourcing, manufacturing operations and the distribution of our products.Risk factors (Item 1A)
Technology
Electric vehicle propulsion
competes withnamed as a riskIn addition, an increased adoption of electric propulsion solutions could result in lower demand for our fully automatic transmissions and, over time, the demand for related service parts and support equipment, which would impact our margins.Risk factors (Item 1A)