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0000320193
20150428
10-Q
641
The Company is subject to laws and regulations worldwide, changes to which could increase the Company’s costs and individually or in the aggregate adversely affect the Company’s business.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
642
The Company is subject to laws and regulations affecting its domestic and international operations in a number of areas.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
643
These U.S. and foreign laws and regulations affect the Company’s activities including, but not limited to, in areas of labor, advertising, digital content, consumer protection, real estate, billing, e-commerce, promotions, quality of services, telecommunications, mobile communications and media, television, intellectua...
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
644
By way of example, laws and regulations related to mobile communications and media devices in the many jurisdictions in which the Company operates are extensive and subject to change.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
645
Such changes could include, among others, restrictions on the production, manufacture, distribution and use of devices, locking devices to a carrier’s network, or mandating the use of devices on more than one carrier’s network.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
646
These devices are also subject to certification and regulation by governmental and standardization bodies, as well as by cellular network carriers for use on their networks.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
647
These certification processes are extensive and time consuming, and could result in additional testing requirements, product modifications, or delays in product shipment dates, or could preclude the Company from selling certain products.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
648
Compliance with these laws, regulations and similar requirements may be onerous and expensive, and they may be inconsistent from jurisdiction to jurisdiction, further increasing the cost of compliance and doing business.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
649
Any such costs, which may rise in the future as a result of changes in these laws and regulations or in their interpretation, could individually or in the aggregate make the Company’s products and services less attractive to the Company’s customers, delay the introduction of new products in one or more regions, or caus...
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
650
The Company has implemented policies and procedures designed to ensure compliance with applicable laws and regulations, but there can be no assurance that the Company’s employees, contractors, or agents will not violate such laws and regulations or the Company’s policies and procedures.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
651
The Company’s business is subject to the risks of international operations.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
652
The Company derives a significant portion of its revenue and earnings from its international operations.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
653
Compliance with applicable U.S. and foreign laws and regulations, such as import and export requirements, anti-corruption laws, tax laws, foreign exchange controls and cash repatriation restrictions, data privacy requirements, environmental laws, labor laws and anti-competition regulations, increases the costs of doing...
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
654
Although the Company has implemented policies and procedures to comply with these laws and regulations, a violation by the Company’s employees, contractors, or agents could nevertheless occur.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
655
The Company also could be significantly affected by other risks associated with international activities including, but not limited to, economic and labor conditions, increased duties, taxes and other costs and political instability.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
656
Margins on sales of the Company’s products in foreign countries, and on sales of products that include components obtained from foreign suppliers, could be materially adversely affected by international trade regulations, including duties, tariffs and antidumping penalties.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
657
The Company is also exposed to credit and collectability risk on its trade receivables with customers in certain international markets.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
658
There can be no assurance the Company can effectively limit its credit risk and avoid losses.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
659
The Company’s retail stores have required and will continue to require a substantial investment and commitment of resources and are subject to numerous risks and uncertainties.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
660
The Company’s retail stores have required substantial investment in equipment and leasehold improvements, information systems, inventory and personnel.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
661
The Company also has entered into substantial operating lease commitments for retail space.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
662
Certain stores have been designed and built to serve as high-profile venues to promote brand awareness and serve as vehicles for corporate sales and marketing activities.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
663
Because of their unique design elements, locations and size, these stores require substantially more investment than the Company’s more typical retail stores.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
664
Due to the high cost structure associated with the Company’s retail stores, a decline in sales or the closure or poor performance of individual or multiple stores could result in significant lease termination costs, write-offs of equipment and leasehold improvements and severance costs.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
665
Many factors unique to retail operations, some of which are beyond the Company’s control, pose risks and uncertainties.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
666
These risks and uncertainties include, but are not limited to, macro-economic factors that could have an adverse effect on general retail activity, as well as the Company’s inability to manage costs associated with store construction and operation, the Company’s failure to manage relationships with its existing retail ...
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
667
Investment in new business strategies and acquisitions could disrupt the Company’s ongoing business and present risks not originally contemplated.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
668
The Company has invested, and in the future may invest, in new business strategies or acquisitions.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
669
Such endeavors may involve significant risks and uncertainties, including distraction of management from current operations, greater than expected liabilities and expenses, inadequate return of capital and unidentified issues not discovered in the Company’s due diligence.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
670
These new ventures are inherently risky and may not be successful.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
671
The Company’s business and reputation may be impacted by information technology system failures or network disruptions.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
672
The Company may be subject to information technology system failures and network disruptions.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
673
These may be caused by natural disasters, accidents, power disruptions, telecommunications failures, acts of terrorism or war, computer viruses, physical or electronic break-ins, or other events or disruptions.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
674
System redundancy may be ineffective or inadequate, and the Company’s disaster recovery planning may not be sufficient for all eventualities.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
675
Such failures or disruptions could prevent access to the Company’s online stores and services, preclude retail store transactions, compromise Company or customer data, and result in delayed or cancelled orders.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
676
System failures and disruptions could also impede the manufacturing and shipping of products, delivery of online services, transactions processing and financial reporting.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
677
There may be breaches of the Company’s information technology systems that materially damage business partner and customer relationships, curtail or otherwise adversely impact access to online stores and services, or subject the Company to significant reputational, financial, legal and operational consequences.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
678
The Company’s business requires it to use and store customer, employee and business partner personally identifiable information (“PII”).
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
679
This may include, among other information, names, addresses, phone numbers, email addresses, contact preferences, tax identification numbers and payment account information.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
680
Although malicious attacks to gain access to PII affect many companies across various industries, the Company is at a relatively greater risk of being targeted because of its high profile and the amount of PII it manages.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
681
The Company requires user names and passwords in order to access its information technology systems.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
682
The Company also uses encryption and authentication technologies designed to secure the transmission and storage of data and prevent access to Company data or accounts.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
683
As with all companies, these security measures are subject to third-party security breaches, employee error, malfeasance, faulty password management, or other irregularities.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
684
For example, third parties may attempt to fraudulently induce employees or customers into disclosing user names, passwords or other sensitive information, which may in turn be used to access the Company’s information technology systems.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
685
To help protect customers and the Company, the Company monitors accounts and systems for unusual activity and may freeze accounts under suspicious circumstances, which may result in the delay or loss of customer orders.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
686
The Company devotes significant resources to network security, data encryption and other security measures to protect its systems and data, but these security measures cannot provide absolute security.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
687
To the extent the Company was to experience a breach of its systems and was unable to protect sensitive data, such a breach could materially damage business partner and customer relationships, and curtail or otherwise adversely impact access to online stores and services.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
688
Moreover, if a computer security breach affects the Company’s systems or results in the unauthorized release of PII, the Company’s reputation and brand could be materially damaged, use of the Company’s products and services could decrease, and the Company could be exposed to a risk of loss or litigation and possible li...
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
689
While the Company maintains insurance coverage that, subject to policy terms and conditions and subject to a significant self-insured retention, is designed to address certain aspects of cyber risks, such insurance coverage may be insufficient to cover all losses or all types of claims that may arise in the continually...
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
690
The Company’s business is subject to a variety of U.S. and international laws, rules, policies and other obligations regarding data protection.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
691
The Company is subject to federal, state and international laws relating to the collection, use, retention, security and transfer of PII.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
692
In many cases, these laws apply not only to third-party transactions, but also to transfers of information between the Company and its subsidiaries, and among the Company, its subsidiaries and other parties with which the Company has commercial relations.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
693
Several jurisdictions have passed laws in this area, and other jurisdictions are considering imposing additional restrictions.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
694
These laws continue to develop and may be inconsistent from jurisdiction to jurisdiction.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
695
Complying with emerging and changing international requirements may cause the Company to incur substantial costs or require the Company to change its business practices.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
696
Noncompliance could result in penalties or significant legal liability.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
697
The Company’s privacy policy, which includes related practices concerning the use and disclosure of data, is posted on its website.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
698
Any failure by the Company, its suppliers or other parties with whom the Company does business to comply with its posted privacy policy or with other federal, state or international privacy-related or data protection laws and regulations could result in proceedings against the Company by governmental entities or others...
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
699
The Company is also subject to payment card association rules and obligations under its contracts with payment card processors.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
700
Under these rules and obligations, if information is compromised, the Company could be liable to payment card issuers for associated expenses and penalties.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
701
In addition, if the Company fails to follow payment card industry security standards, even if no customer information is compromised, the Company could incur significant fines or experience a significant increase in payment card transaction costs.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
702
The Company’s success depends largely on the continued service and availability of key personnel.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
703
Much of the Company’s future success depends on the continued availability and service of key personnel, including its Chief Executive Officer, executive team and other highly skilled employees.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
704
Experienced personnel in the technology industry are in high demand and competition for their talents is intense, especially in Silicon Valley, where most of the Company’s key personnel are located.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
705
The Company’s business may be impacted by political events, war, terrorism, public health issues, natural disasters and other business interruptions.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
706
War, terrorism, geopolitical uncertainties, public health issues and other business interruptions have caused and could cause damage or disruption to international commerce and the global economy, and thus could have a material adverse effect on the Company, its suppliers, logistics providers, manufacturing vendors and...
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
707
The Company’s business operations are subject to interruption by, among others, natural disasters, whether as a result of climate change or otherwise, fire, power shortages, nuclear power plant accidents, terrorist attacks and other hostile acts, labor disputes, public health issues and other events beyond its control.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
708
Such events could decrease demand for the Company’s products, make it difficult or impossible for the Company to make and deliver products to its customers, including channel partners, or to receive components from its suppliers, and create delays and inefficiencies in the Company’s supply chain.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
709
Should major public health issues, including pandemics, arise, the Company could be adversely affected by more stringent employee travel restrictions, additional limitations in freight services, governmental actions limiting the movement of products between regions, delays in production ramps of new products and disrup...
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
710
The majority of the Company’s R&D activities, its corporate headquarters, information technology systems and other critical business operations, including certain component suppliers and manufacturing vendors, are in locations that could be affected by natural disasters.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
711
In the event of a natural disaster, the Company could incur significant losses, require substantial recovery time and experience significant expenditures in order to resume operations.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
712
The Company expects its quarterly revenue and operating results to fluctuate.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
713
The Company’s profit margins vary across its products and distribution channels.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
714
The Company’s software, accessories, and service and support contracts generally have higher gross margins than certain of the Company’s other products.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
715
Gross margins on the Company’s hardware products vary across product lines and can change over time as a result of product transitions, pricing and configuration changes, and component, warranty, and other cost fluctuations.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
716
The Company’s direct sales generally have higher associated gross margins than its indirect sales through its channel partners.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
717
In addition, the Company’s gross margin and operating margin percentages, as well as overall profitability, may be materially adversely impacted as a result of a shift in product, geographic or channel mix, component cost increases, the strengthening U.S. dollar, price competition, or the introduction of new products, ...
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
718
The Company has typically experienced higher net sales in its first quarter compared to other quarters due in part to seasonal holiday demand.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
719
Additionally, new product introductions can significantly impact net sales, product costs and operating expenses.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
720
The Company could be subject to unexpected developments late in a quarter, such as lower-than-anticipated demand for the Company’s products, issues with new product introductions, an internal systems failure, or failure of one of the Company’s logistics, components supply, or manufacturing partners.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
721
The Company’s stock price is subject to volatility.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
722
The Company’s stock price has experienced substantial price volatility in the past and may continue to do so in the future.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
723
Additionally, the Company, the technology industry and the stock market as a whole have experienced extreme stock price and volume fluctuations that have affected stock prices in ways that may have been unrelated to these companies’ operating performance.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
724
Price volatility over a given period may cause the average price at which the Company repurchases its own stock to exceed the stock’s price at a given point in time.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
725
The Company believes its stock price reflects expectations of future growth and profitability.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
726
The Company also believes its stock price reflects expectations that its cash dividend will continue at current levels or grow and that its current share repurchase program will be fully consummated.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
727
Future dividends are subject to declaration by the Company’s Board of Directors, and the Company’s share repurchase program does not obligate it to acquire any specific number of shares.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
728
If the Company fails to meet expectations related to future growth, profitability, dividends, share repurchases or other market expectations, its stock price may decline significantly, which could have a material adverse impact on investor confidence and employee retention.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
729
The Company’s financial performance is subject to risks associated with changes in the value of the U.S. dollar versus local currencies.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
730
The Company’s primary exposure to movements in foreign currency exchange rates relates to non-U.S. dollar denominated sales and operating expenses worldwide.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
731
Weakening of foreign currencies relative to the U.S. dollar adversely affects the U.S. dollar value of the Company’s foreign currency-denominated sales and earnings, and generally leads the Company to raise international pricing, potentially reducing demand for the Company’s products.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
732
Margins on sales of the Company’s products in foreign countries and on sales of products that include components obtained from foreign suppliers, could be materially adversely affected by foreign currency exchange rate fluctuations.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
733
In some circumstances, for competitive or other reasons, the Company may decide not to raise local prices to fully offset the dollar’s strengthening, or at all, which would adversely affect the U.S. dollar value of the Company’s foreign currency denominated sales and earnings.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
734
Conversely, a strengthening of foreign currencies relative to the U.S. dollar, while generally beneficial to the Company’s foreign currency-denominated sales and earnings, could cause the Company to reduce international pricing and incur losses on its foreign currency derivative instruments, thereby limiting the benefi...
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
735
Additionally, strengthening of foreign currencies may also increase the Company’s cost of product components denominated in those currencies, thus adversely affecting gross margins.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
736
The Company uses derivative instruments, such as foreign currency forward and option contracts, to hedge certain exposures to fluctuations in foreign currency exchange rates.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
737
The use of such hedging activities may not offset any, or more than a portion, of the adverse financial effects of unfavorable movements in foreign exchange rates over the limited time the hedges are in place.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
738
The Company is exposed to credit risk and fluctuations in the market values of its investment portfolio.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
739
Given the global nature of its business, the Company has both domestic and international investments.
0001193125-15-153166/full-submission.txt
0000320193
20150428
10-Q
740
Credit ratings and pricing of the Company’s investments can be negatively affected by liquidity, credit deterioration, financial results, economic risk, political risk, sovereign risk or other factors.
0001193125-15-153166/full-submission.txt