cik stringclasses 1
value | date stringlengths 8 8 | form stringclasses 4
values | sentenceCount int64 0 2.33k | sentence stringlengths 2 5.25k | filename stringlengths 40 40 |
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0000320193 | 20031219 | 10-K | 1,052 | This sales pattern can produce pressure on the Company's internal infrastructure during the third month of a quarter and may adversely impact the Company's ability to predict its financial results accurately. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,053 | Developments late in a quarter, such as lower-than-anticipated demand for the Company's products, an internal systems failure, or failure of one of the Company's key logistics, components suppliers, or manufacturing partners, can have significant adverse impacts on the Company and its results of operations and financia... | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,054 | The Company's success depends largely on its ability to attract and retain key personnel. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,055 | Much of the future success of the Company depends on the continued service and availability of skilled personnel, including its Chief Executive Officer, members of its executive team, and those in technical, marketing and staff positions. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,056 | Experienced personnel in the information technology industry are in high demand and competition for their talents is intense, especially in the Silicon Valley, where the majority of the Company's employees are located. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,057 | The Company has relied on its ability to grant stock options as one mechanism for recruiting and retaining this highly skilled talent. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,058 | Potential accounting regulations requiring the expensing of stock options may impair the Company's future ability to provide these incentives without incurring significant compensation costs. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,059 | There can be no assurance that the Company will continue to successfully attract and retain key personnel. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,060 | The Company is subject to risks associated with the availability and cost of insurance. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,061 | The Company has observed rapidly changing conditions in the insurance markets relating to nearly all areas of traditional corporate insurance. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,062 | Such conditions have resulted in higher premium costs, higher policy deductibles, and lower coverage limits. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,063 | For some risks, because of cost and/or availability, the Company does not have insurance coverage. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,064 | For these reasons, the Company is retaining a greater portion of its insurable risks than it has in the past at relatively greater cost. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,065 | Business interruptions could adversely affect the Company's future operating results. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,066 | The Company's major business operations are subject to interruption by earthquake, fire, power shortages, terrorist attacks and other hostile acts, labor disputes, medical conditions, and other events beyond its control. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,067 | The majority of the Company's research and development activities, its corporate headquarters, information technology systems, and other critical business operations, including certain component suppliers and manufacturing vendors, are located near major seismic faults. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,068 | The Company does not carry earthquake insurance for direct quake-related losses. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,069 | The Company's operating results and financial
condition could be materially adversely affected in the event of a major earthquake or other natural or manmade disaster. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,070 | Failure of the Company's information technology systems and breaches in the security of data could adversely affect the Company's future operating results. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,071 | Information technology system failures and breaches of data security could disrupt the Company's ability to function in the normal course of business by potentially causing delays or cancellation of customer orders, impeding the manufacture or shipment of products, or resulting in the unintentional disclosure of custom... | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,072 | Management has taken steps to address these concerns by its implementation of sophisticated network security and internal control measures. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,073 | However, there can be no assurance that a system failure or data security breach will not have a material adverse effect on the Company's results of operations. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,074 | The Company is exposed to credit risk on its accounts receivables. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,075 | This risk is heightened as economic conditions worsen. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,076 | The Company distributes its products through third-party computer resellers and retailers and directly to certain educational institutions and commercial customers. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,077 | A substantial majority of the Company's outstanding trade receivables are not covered by collateral or credit insurance. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,078 | The Company also has non-trade receivables from certain of its manufacturing vendors resulting from the sale by the Company of raw material components to these manufacturing vendors who manufacture sub-assemblies or assemble final products for the Company. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,079 | While the Company has procedures in place to monitor and limit exposure to credit risk on its trade and non-trade receivables, there can be no assurance that such procedures will be effective in limiting its credit risk and avoiding losses. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,080 | Additionally, if the global economy and regional economies fail to improve or continue to deteriorate, it becomes more likely that the Company will incur a material loss or losses as a result of the weakening financial condition of one or more of its customers or manufacturing vendors. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,081 | The Company is subject to risks associated with environmental regulations. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,082 | Production and marketing of products in certain states and countries may subject the Company to environmental and other regulations including, in some instances, the requirement to provide customers the ability to return product at the end of its useful life, and place responsibility for environmentally safe disposal o... | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,083 | Such laws and regulations have recently been passed in several jurisdictions in which the Company operates, including various European Union member countries, Japan and California. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,084 | Although the Company does not anticipate any material adverse effects in the future based on the nature of its operations and the thrust of such laws, there is no assurance that such existing laws or future laws will not have a material adverse effect on the Company's results of operation and financial position. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,085 | Changes in accounting rules could adversely affect the Company's future operating results. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,086 | Financial statements are prepared in accordance with U.S. generally accepted accounting principles. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,087 | These principles are subject to interpretation by various governing bodies, including the FASB and the SEC, who interpret and create appropriate accounting regulations. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,088 | A change from current accounting regulations can have a significant effect on the Company's results of operations and could impact the manner in which the Company conducts business. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,089 | Unanticipated changes in the Company's tax rates could affect its future results. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,090 | The Company's future effective tax rates could be favorably or unfavorably affected by unanticipated changes in the mix of earnings in countries with differing statutory tax rates, changes in the valuation of the Company's deferred tax assets and liabilities, or by changes in tax laws or their interpretation. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,091 | In addition, the Company is subject to the continuous examination of our income tax returns by the Internal Revenue Service and other tax authorities. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,092 | The Company regularly assesses the likelihood of adverse outcomes
resulting from these examinations to determine the adequacy of our provision for income taxes. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,093 | There can be no assurance that the outcomes from these continuous examinations will not have an adverse effect on its operating results and financial condition. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,094 | The Company's stock price may be volatile. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,095 | The Company's stock has at times experienced substantial price volatility as a result of variations between its actual and anticipated financial results and as a result of announcements by the Company and its competitors. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,096 | In addition, the stock market has experienced extreme price and volume fluctuations that have affected the market price of many technology companies in ways that have been unrelated to the operating performance of these companies. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,097 | These factors, including lack of positive performance in the Company's stock price, as well as general economic and political conditions and investors' concerns regarding the credibility of corporate financial reporting and integrity of financial markets, may materially adversely affect the market price of the Company'... | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,098 | The Company's acquisition activity could disrupt its ongoing business and may present risks not contemplated at the time of the transaction. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,099 | The Company has acquired and may continue to acquire companies that have products, services, personnel and technologies that complement the Company's strategic direction and product roadmap. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,100 | These acquisitions may involve significant risks and uncertainties, including difficulties in incorporating the acquired companies' operations and technologies; distraction of management's attention away from normal business operations; insufficient revenue generation to offset liabilities assumed and expenses associat... | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,101 | Acquisitions are inherently risky, and no assurance can be given that the Company's previous or future acquisitions will be successful and will not materially adversely affect business, operating results or financial condition. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,102 | The Company has generally paid cash for its acquisitions. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,103 | Should the Company issue its common stock or other equity related purchase rights as consideration in an acquisition, current shareholders' percentage ownership and earnings per share may become diluted. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,104 | Item 7A. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,105 | Quantitative and Qualitative Disclosures About Market Risk
Interest Rate and Foreign Currency Risk Management
To ensure the adequacy and effectiveness of the Company's foreign exchange and interest rate hedge positions, as well as to monitor the risks and opportunities of the non-hedge portfolios, the Company regularly... | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,106 | However, given the effective horizons of the Company's risk management activities and the anticipatory nature of the exposures intended to hedge, there can be no assurance the aforementioned programs will offset more than a portion of the adverse financial impact resulting from unfavorable movements in either foreign e... | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,107 | In addition, the timing of the accounting for recognition of gains and losses related to mark-to-market instruments for any given period may not coincide with the timing of gains and losses related to the underlying economic exposures and, therefore, may adversely affect the Company's operating results and financial po... | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,108 | The Company adopted SFAS No. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,109 | 133 as of October 1, 2000. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,110 | SFAS No. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,111 | 133 established accounting and reporting standards for derivative instruments, hedging activities, and exposure definition. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,112 | Management does not believe that ongoing application of SFAS No. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,113 | 133 will significantly alter the Company's hedging strategies. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,114 | However, its application may increase the volatility of other income and expense and other comprehensive income. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,115 | Interest Rate Risk
While the Company is exposed to interest rate fluctuations in many of the world's leading industrialized countries, the Company's interest income and expense is most sensitive to fluctuations in the general level of U.S. interest rates. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,116 | In this regard, changes in U.S. interest rates affect the interest earned on the Company's cash, cash equivalents, and short-term investments as well as costs associated with foreign currency hedges. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,117 | The Company's fixed income investment policy and strategy is to ensure the preservation of capital, meet liquidity requirements, and optimize return in light of the current credit and interest rate environment. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,118 | The Company benchmarks its performance by utilizing external money managers to manage a small portion of the aggregate investment portfolio. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,119 | The external managers adhere to the Company's investment policies and also provide occasional research and market information that supplements internal research used to make credit decisions in the investment process. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,120 | During 1994, the Company issued $300 million aggregate principal amount of 6.5% unsecured notes in a public offering registered with the SEC. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,121 | The notes were sold at 99.925% of par, for an effective yield to maturity of 6.51%. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,122 | The notes pay interest semiannually and mature on February 15, 2004. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,123 | The Company's exposure to market risk for changes in interest rates relates primarily to the Company's investment portfolio and debt obligations and related derivative financial instruments. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,124 | The Company places its short-term investments in highly liquid securities issued by high credit quality issuers and, by policy, limits the amount of credit exposure to any one issuer. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,125 | The Company's general policy is to limit the risk of principal loss and ensure the safety of invested funds by limiting market and credit risk. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,126 | All highly liquid investments with maturities of three months or less are classified as cash equivalents; highly liquid investments with maturities greater than three months are classified as short-term investments. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,127 | As of September 27, 2003, approximately $629 million of the Company's short-term investments had underlying maturities ranging from 1 and 5 years. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,128 | As of September 28, 2002, $1.087 billion of the Company's investment portfolio classified as short-term investments had maturities ranging from 1 to 5 years. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,129 | The remainder all had underlying maturities between 3 and 12 months. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,130 | Due to liquidity needs, or in anticipation of credit deterioration, or for the purpose of duration management of the Company's investment portfolio, the Company may sell investments prior to their stated maturities. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,131 | As a result of such activity, the Company recognized net gains of $21 million in 2003 and $7 million in 2002. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,132 | In order to provide a meaningful assessment of the interest rate risk associated with the Company's investment portfolio, the Company performed a sensitivity analysis to determine the impact that a change in interest rates would have on the value of the investment portfolio assuming a 100 basis point parallel shift in ... | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,133 | Based on investment positions as of September 27, 2003, a hypothetical 100 basis point increase in interest rates across all maturities would result in a $12.9 million decline in the fair market value of the portfolio. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,134 | As of September 28, 2002, a similar 100 basis point shift in the yield curve would have resulted in a $37.7 million decline in fair value. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,135 | Such losses would only be realized if the Company sold the investments prior to maturity. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,136 | Except in instances noted above, the Company's policy is to hold investments to maturity. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,137 | The Company sometimes enters into interest rate derivative transactions, including interest rate swaps, collars, and floors, with financial institutions in order to better match the Company's floating-rate interest income on its cash equivalents and short-term investments with its fixed-rate interest expense on its deb... | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,138 | The Company may also enter into interest rate contracts that are intended to reduce the cost of the interest rate risk management program. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,139 | The Company entered into no interest rate asset swaps during 2003 or 2002 and had no open interest rate asset swaps at September 27, 2003. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,140 | In prior years, the Company had entered into interest rate debt swaps with financial institutions. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,141 | The interest rate debt swaps, which qualified as accounting hedges, generally required the Company to pay a floating interest rate based on the three- or six-month U.S. dollar LIBOR and receive a fixed rate of interest without exchanges of the underlying notional amounts. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,142 | These swaps effectively converted the Company's fixed-rate 10-year debt to floating-rate debt and convert a portion of the floating rate investments to fixed rate. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,143 | Due to prevailing market interest rates, during 2002 the Company entered into and then subsequently closed out debt swap positions realizing a gain of $6 million. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,144 | During 2001 the Company closed out all of its then existing debt swap positions realizing a gain of $17 million. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,145 | Both the gains in 2002 and 2001 were deferred, recognized in long-term debt and are being amortized to other income and expense over the remaining life of the debt. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,146 | Foreign Currency Risk
Overall, the Company is a net receiver of currencies other than the U.S. dollar and, as such, generally benefits from a weaker dollar and is adversely affected by a stronger dollar relative to major currencies worldwide. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,147 | Accordingly, changes in exchange rates, and in particular a strengthening of the U.S. dollar, may negatively affect the Company's net sales and gross margins as expressed in U.S. dollars. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,148 | There is also a risk that the Company will have to adjust local currency product pricing within the time frame of our hedged positions due to competitive pressures when there has been significant volatility in foreign currency exchange rates. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,149 | The Company enters into foreign currency forward and option contracts with financial institutions primarily to protect against foreign exchange risks associated with existing assets and liabilities, certain firmly committed transactions, and probable but not firmly committed transactions. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,150 | Generally, the Company's practice is to hedge a majority of its existing material foreign exchange transaction exposures. | 0001047469-03-041604/full-submission.txt |
0000320193 | 20031219 | 10-K | 1,151 | However, the Company may not hedge certain foreign exchange transaction exposures due to immateriality, prohibitive economic cost of hedging particular exposures, and limited availability of appropriate hedging instruments. | 0001047469-03-041604/full-submission.txt |
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