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Item 1A. Risk Factors

2022-04-21 compared with 2021-10-21 · 18 added, 0 removed, 3 unchanged (86% of the section changed)

2 unchanged sentences

Additional risks and uncertainties not currently known to us or that we currently deem to be immaterial also may materially adversely affect our business, financial condition and/or operating results.

Geopolitical conflicts, including the conflict between Russia and Ukraine, may adversely affect our business and results of operations.

We have operations or activities in numerous countries and regions outside the United States, including throughout Europe and Australasia.

As a result, our global operations are affected by economic, political and other conditions in the foreign countries in which we do business as well as U.S.

laws regulating international trade.

Specifically, the current conflict between Russia and Ukraine is creating substantial uncertainty about the future impact on the global economy.

Countries across the globe are instituting sanctions and other penalties against Russia.

The retaliatory measures that have been taken, and could be taken in the future, by the U.S., NATO, and other countries have created global security concerns that could result in broader European military and political conflicts and otherwise have a substantial impact on regional and global economies, any or all of which could adversely affect our business, particularly our European operations.

While the broader consequences are uncertain at this time, the continuation and/or escalation of the Russian and Ukraine conflict, along with any expansion of the conflict to surrounding areas, create a number of risks that could adversely impact our business, including:

• increased inflation and significant volatility in commodity prices;

• disruptions to our global technology infrastructure, including through cyberattacks, ransom attacks or cyber-intrusion;

• adverse changes in international trade policies and relations;

• our ability to maintain or increase our prices, including freight in response to rising fuel costs;

• disruptions in global supply chains;

• increased exposure to foreign currency fluctuations;

• constraints, volatility or disruption in the credit and capital markets;

• exacerbating the other risks disclosed in our Annual Report.

All of these risks could materially and adversely affect our business and results of operations.

We are continuing to monitor the situation in the Ukraine and globally and assess its potential impact on our business.

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.

What changed 10-Q

Item 1A. Risk Factors