−Removed: A discussion of our risk factors can be found in Item 1A "Risk Factors" in our Annual Report on Form 10-K for the fiscal year ended May 31, 2020, and our other filings with the SEC.
−Removed: During the first quarter of fiscal 2021, there were no material changes to our previously disclosed risk factors.
+Added: The disclosure below modifies the risk factors previously disclosed in our Annual Report on Form 10-K for the fiscal year ended May 31, 2020.
+Added: These risks and uncertainties, along with those previously disclosed, could materially adversely affect our business or financial results.
+Added: Risks Relating to our Business
+Added: As we outsource certain functions, we become more dependent on the third parties performing those functions.
+Added: As part of a concerted effort to achieve cost savings and efficiencies, we have entered into agreements with third-party service providers under which we have outsourced certain information systems, sales, finance, accounting, and other functions, and we may enter into managed services agreements with respect to other functions in the future.
+Added: If any of these third-party service providers do not perform according to the terms of the agreements, or if we fail to adequately monitor their performance, we may not be able to achieve the expected cost savings or we may have to incur additional costs to correct errors made by such service providers, and our reputation could be harmed.
+Added: Depending on the function involved, such errors may also lead to business interruption, damage or disruption of information technology systems, processing inefficiencies, the loss of or damage to intellectual property or non-public company sensitive information, effects on financial reporting, litigation or remediation costs, or damage to our reputation, any of which could have a material adverse effect on our business.
+Added: If any of our third-party service providers experience a breach or system failure, their businesses could be negatively impacted, and it may result in disruption to our end-to-end supply chain or affect our ability to fulfill customer orders, both of which could have a material adverse effect on our business.
+Added: If our third-party service providers do not respond or perform effectively in connection with a breach or system failure, we may not achieve expected synergies and our business may be impacted.
+Added: In addition, if we transition functions to one or more new, or among existing, external service providers, we may experience challenges that could have a material adverse effect on our results of operations or financial condition.
+Added: Our operations are dependent on a wide array of third parties.
+Added: The success of our end-to-end supply chain relies on the continued performance of a wide array of third parties.
+Added: Suppliers, co-manufacturers, third-party outsourcers, warehousing partners, and transportation providers are among our critical partners.
+Added: Although we take steps to qualify and audit third parties with whom we do business, we cannot guarantee that all third parties will perform dependably or at all.
+Added: It is possible that events beyond our control, such as operational failures, labor issues, cybersecurity events, pandemics or other health issues, such as COVID-19, or other issues could impact our unaffiliated third parties.
+Added: If our third parties fail to deliver on their commitments, introduce unplanned risk to our operations (e.g., through cyber activity), or are unable to fulfill their obligations, we could experience manufacturing challenges, shipment delays, increased costs, or lost revenue.
All documents referenced below were filed pursuant to the Securities Exchange Act of 1934 by Conagra Brands, Inc.
2 unchanged sentences
Amended and Restated Bylaws of Conagra Brands, Inc., incorporated herein by reference to Exhibit 3.1 to the Company’s Current Report on Form 8-K filed with the SEC on July 28, 2020
−Removed: Form of Senior Officer Indemnification Agreement, incorporated herein by reference to Exhibit 10.1 to the Company’s Current Report on Form 8-K filed with the SEC on July 28, 2020
+Added: Third Supplemental Indenture, dated October 16, 2020, by and between the Company and Wells Fargo Bank, National Association as Trustee (including Form of Note), incorporated herein by reference to Exhibit 4.2 to the Company’s Current Report on Form 8-K filed with the SEC on October 16, 2020
Section 302 Certificate of Chief Executive Officer
1 unchanged sentence
Section 906 Certificates
−Removed: The following materials from Conagra Brands' Quarterly Report on Form 10-Q for the quarter ended August 30, 2020, formatted in Inline XBRL (eXtensible Business Reporting Language):
+Added: The following materials from Conagra Brands' Quarterly Report on Form 10-Q for the quarter ended November 29, 2020, formatted in Inline XBRL (eXtensible Business Reporting Language):
(i) the Condensed Consolidated Statements of Earnings, (ii) the Condensed Consolidated Statements of Comprehensive Income, (iii) the Condensed Consolidated Balance Sheets, (iv) the Condensed Consolidated Statements of Cash Flows, (v) Notes to Condensed Consolidated Financial Statements, and (vi) document and entity information.
5 unchanged sentences
Senior Vice President and Corporate Controller
−Removed: Dated this 6th day of October, 2020.
+Added: Dated this 7th day of January, 2021.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.