Risk Factors.
−Removed: In addition to the other information set forth in this report, you should carefully consider the factors discussed in Part I, Item 1A, “Risk Factors”, in our Annual Report on Form 10-K for the year ended December 31, 2019 (the “Annual Report”) and the risks relating to the impact of the COVID-19 pandemic described below.
−Removed: The risks described in our Annual Report and below are not the only risks facing the Company.
+Added: In addition to the other information set forth in this report, you should carefully consider the factors discussed in Part I, Item 1A, “Risk Factors”, in our Annual Report on Form 10-K for the year ended December 31, 2020 (the “Annual Report”), which could materially affect our business, financial condition or future results.
+Added: The risks described in our Annual Report are not the only risks facing the Company.
Additional risks and uncertainties not currently known to us or that we currently deem to be immaterial may also materially adversely affect our business, financial condition or operating results.
−Removed: The recent novel coronavirus (“COVID-19”) global pandemic has adversely affected, and is expected to continue to adversely affect, our business, results of operations and financial condition.
−Removed: The widespread outbreak of any other illnesses or communicable diseases could also adversely affect our business, results of operations and financial condition.
−Removed: We could be negatively impacted by the widespread outbreak of an illness, any other communicable disease or any other public health crisis that results in economic and trade disruptions, including the disruption of global supply chains.
−Removed: To date, the COVID-19 pandemic has adversely affected, and is expected to continue to adversely affect, our business, results of operations and financial condition.
−Removed: In late 2019, there was an outbreak of a new strain of coronavirus, COVID-19, which has since spread globally.
−Removed: On March 11, 2020, the World Health Organization declared COVID-19 a pandemic.
−Removed: In an effort to protect the health and safety of our teammates, we took proactive action to adopt social distancing policies at our locations globally, including working from home where possible, limiting the number of teammates attending in-person meetings, reducing the number of people in our locations at any one time, and suspending teammate travel.
−Removed: The COVID-19 pandemic has negatively impacted the global economy, disrupted global supply chains and workforce participation, and initially created significant volatility and disruption of financial markets.
−Removed: As a result of the COVID-19 pandemic and the related responses from government authorities, our business operations, financial performance and results of operations have been, and continue to be, adversely impacted.
−Removed: For example, w e observed a pronounced impact of COVID-19 on our third quarter financial results when compared to internal budgets, and anticipate demand for our products and services will continue to be impacted in the fourth quarter as clients continue to evaluate the impact of COVID-19 on their businesses, their profitability and liquidity.
−Removed: While we did not experience a decline in booking trends year over year in October 2020 we anticipate that the declining trend, which began in April 2020, may continue into the fourth quarter of 2020.
−Removed: In the short run we took steps to accelerate and complete our integration with PCM and to reduce discretionary operating expenditures, such as certain teammate benefits and variable compensation, and travel related expenditures.
−Removed: See “Management’s Discussion and Analysis of Financial Condition and Results of Operations – Quarterly Overview – Recent Developments – Impact of COVID-19 to our Business” for additional information.
−Removed: INSIGHT ENTERPRISES, INC.
−Removed: Additionally, o ur business operations, financial performance and results of operations have been and could be further adversely impacted in a number of ways, which may include , but is not limited to, the following:
−Removed: disruptions to our operations, including any closures of our offices and facilities;
−Removed: restrictions on our operations and sales, marketing and distribution efforts;
−Removed: and interruptions to our other important business activities;
−Removed: further reduced demand for our products and services due to disruptions to the businesses and operations of our clients;
−Removed: interruptions, availability or delays in global shipping to transport our products;
−Removed: a slowdown or stoppage in the supply chain for our products;
−Removed: limitations on employee resources and availability, including due to sickness, government restrictions, the desire of employees to avoid contact with large groups of people or mass transit disruptions;
−Removed: the ability of our clients to pay for our products, services and solutions;
−Removed: the willingness of clients in the travel, hospitality, retail and other industries significantly impacted by the pandemic to continue with current and expected projects;
−Removed: a fluctuation in foreign currency exchange rates or interest rates could result from market uncertainties;
−Removed: an increase in the cost or the difficulty to obtain debt or equity financing could affect our financial condition or our ability to fund operations or future investment opportunities;
−Removed: changes to the carrying value of our goodwill and intangible assets;
−Removed: an increase in regulatory restrictions or continued market volatility could hinder our ability to execute strategic business activities, including acquisitions, as well as negatively impact our stock price.
−Removed: The spread of COVID-19 has caused us to modify our business practices (including teammate travel, teammate work locations, and cancellation of physical participation in most meetings, events and conferences), and we anticipate taking further actions as may be required by government authorities or that we determine are in the best interests of our clients, partners and teammates.
−Removed: There is no certainty that such measures will be sufficient to mitigate the risks posed by the virus, and our ability to perform critical functions could be harmed.
−Removed: Further, should any key teammates become ill from COVID-19 and unable to work, the attention of the management team could be diverted.
−Removed: The potential effects of the COVID-19 pandemic may also impact our other risk factors discussed in in Part I, Item 1A, “Risk Factors”, in our Annual Report.
−Removed: The ultimate extent of the impact of the COVID-19 pandemic on our business operations, financial performance and results of operation, including our ability to execute our business strategies and initiatives in the expected time frame, will depend on future developments, which are highly uncertain, continuously evolving and cannot be predicted.
−Removed: This includes, but is not limited to, the duration and spread of the COVID-19 pandemic, its severity, the actions taken to contain the virus or treat its impact, such as restrictions on travel and transportation, and how quickly and to what extent normal economic and operating conditions can resume.
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.