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0000320193
20111026
10-K
357
These U.S. and foreign laws and regulations affect the Company’s activities including, but not limited to, areas of labor, advertising, content, consumer protection, real estate, billing, e-commerce, promotions, quality of services, telecommunications, mobile, television, intellectual property ownership and infringemen...
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
358
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.
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
359
Such changes could include, among others, restrictions on the production, manufacture, distribution, and use of the device, locking the device to a carrier’s network, or mandating the use of the device on more than one carrier’s network.
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
360
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.
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
361
These certification processes are extensive and time consuming, and could result in additional testing requirements, product modifications, delays in product shipment dates, or preclude the Company from selling certain products.
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
362
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.
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
363
This increases the costs of doing business, and 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 ...
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
364
The Company has implemented policies and procedures designed to ensure compliance with these 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.
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
365
Any such violations could individually or in the aggregate materially adversely affect the Company’s financial condition or operating results.
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
366
The Company’s success depends largely on the continued service and availability of key personnel.
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
367
Much of the Company’s future success depends on the continued availability and service of key personnel, including its CEO, its executive team and highly skilled employees.
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
368
Experienced personnel in the technology industry are in high demand and competition for their talents is intense, especially in the Silicon Valley, where most of the Company’s key personnel are located.
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
369
Political events, war, terrorism, public health issues, natural disasters and other circumstances could materially adversely affect the Company.
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
370
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 strong negative effect on the Company, its suppliers, logistics providers, manufacturing vendors and...
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
371
The Company’s business operations are subject to interruption by natural disasters, fire, power shortages, nuclear power plant accidents, terrorist attacks, and other hostile acts, labor disputes, public health issues, and other events beyond its control.
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
372
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.
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
373
Should major public health issues, including pandemics, arise, the Company could be negatively 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 disr...
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
374
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 in locations that could be affected by natural disasters.
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
375
In the event of a natural disaster, losses, significant recovery time and substantial expenditures could be required to resume operations and the Company’s financial condition and operating results could be materially adversely affected.
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
376
Please also refer to the discussion of risks related to the March 11, 2011, Japan earthquake and tsunami and the recent flooding in Thailand in Part II, Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” under the subheading “Japan Earthquake and Tsunami and Thailand Floodi...
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
377
The Company may be subject to information technology system failures or network disruptions that could damage the Company’s reputation, business operations, and financial conditions.
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
378
The Company may be subject to information technology system failures and network disruptions.
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
379
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 similar events or disruptions.
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
380
System redundancy may be ineffective or inadequate, and the Company’s disaster recovery planning may not be sufficient for all eventualities.
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
381
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.
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
382
System failures and disruptions could also impede the manufacturing and shipping of products, delivery of online services, transactions processing and financial reporting.
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
383
The Company may be subject to breaches of its information technology systems, which could damage the Company’s reputation, business partner and customer relationships, and access to online stores and services.
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
384
Such breaches could subject the Company to significant reputational, financial, legal, and operational consequences.
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
385
The Company’s business requires it to use and store customer, employee, and business partner personally identifiable information (“PII”).
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
386
This may include names, addresses, phone numbers, email addresses, contact preferences, tax identification numbers, and payment account information.
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
387
Although malicious attacks to gain access to PII affect many companies across various industries, the Company may be at a relatively greater risk of being targeted because of its high profile and the amount of PII managed.
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
388
The Company requires user names and passwords in order to access its information technology systems.
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
389
The Company also uses encryption and authentication technologies to secure the transmission and storage of data.
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
390
These security measures may be compromised as a result of third-party security breaches, employee error, malfeasance, faulty password management, or other irregularity, and result in persons obtaining unauthorized access to Company data or accounts.
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
391
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.
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
392
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.
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
393
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.
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
394
The Company may experience a breach of its systems and may be unable to protect sensitive data.
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
395
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 and use of the Company’s products and services could decrease.
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
396
The Company would also be exposed to a risk of loss or litigation and possible liability, which could result in a material adverse effect on the Company’s business, results of operations and financial condition.
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
397
The Company’s business is subject to a variety of U.S. and international laws, rules, policies and other obligations regarding data protection.
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
398
The Company is subject to federal, state and international laws relating to the collection, use, retention, security and transfer of PII.
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
399
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.
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
400
Several jurisdictions have passed new laws in this area, and other jurisdictions are considering imposing additional restrictions.
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
401
These laws continue to develop and may be inconsistent from jurisdiction to jurisdiction.
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
402
Complying with emerging and changing international requirements may cause the Company to incur substantial costs or require the Company to change its business practices.
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
403
Noncompliance could result in penalties or significant legal liability.
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
404
The Company’s privacy policies and practices concerning the use and disclosure of data are posted on its website.
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
405
Any failure by the Company, its suppliers or other parties with whom the Company does business to comply with its posted privacy policies 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 othe...
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
406
The Company is also subject to payment card association rules and obligations under its contracts with payment card processors.
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
407
Under these rules and obligations, if information is compromised, the Company could be liable to payment card issuers for the cost of associated expenses and penalties.
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
408
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.
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
409
The Company expects its quarterly revenue and operating results to fluctuate.
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
410
The Company’s profit margins vary among its products and its distribution channels.
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
411
The Company’s software, accessories, and service and support contracts generally have higher gross margins than certain of the Company’s other products.
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
412
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.
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
413
The Company’s direct sales generally have higher associated gross margins than its indirect sales through its channel partners.
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
414
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, new products, component cost increases, strengthening U.S. dollar, or price competition.
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
415
The Company has typically experienced greater net sales in the first fiscal quarter compared to other fiscal quarters due to increased holiday seasonal demand.
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
416
Furthermore, the Company sells more products from time-to-time during the third month of a quarter than it does during either of the first two months.
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
417
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, could have a material adverse impact on the Company’s financia...
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
418
The Company’s stock price is subject to volatility.
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
419
The Company’s stock continues to experience substantial price volatility.
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
420
Additionally, the stock market as a whole has experienced extreme price and volume fluctuations that have affected the stock price of many technology companies in ways that may have been unrelated to these companies’ operating performance.
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
421
The Company believes its stock price reflects high future growth and profitability expectations.
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
422
If the Company fails to meet these expectations its stock price may significantly decline, which could have a material adverse impact on investor confidence and employee retention.
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
423
The Company’s business is subject to the risks of international operations.
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
424
The Company derives a significant portion of its revenue and earnings from its international operations.
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
425
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 doin...
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
426
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.
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
427
The consequences of such violations could individually or in the aggregate materially adversely affect the Company’s financial condition or operating results.
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
428
The Company’s financial condition and operating results 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, political instability, and changes in the value of the U.S. dollar v...
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
429
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 and by international trade regulations, including duties, tariffs and antidumping penal...
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
430
The Company is also exposed to credit and collectability risk on its trade receivables with customers in certain international markets.
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
431
There can be no assurance it can effectively limit its credit risk and avoid losses, which could materially adversely affect the Company’s financial condition and operating results.
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
432
The Company’s primary exposure to movements in foreign currency exchange rates relate to non-U.S. dollar denominated sales and operating expenses worldwide.
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
433
Weakening of foreign currencies relative to the U.S. dollar will adversely affect the U.S. dollar value of the Company’s foreign currency-denominated sales and earnings, and generally will lead the Company to raise international pricing, potentially reducing demand for the Company’s products.
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
434
In some circumstances, due to competition or other reasons, the Company may decide not to raise local prices to the full extent of 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.
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
435
Conversely, a strengthening of foreign currencies, 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 benefit.
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
436
Additionally, strengthening of foreign currencies may also increase the Company’s cost of product components denominated in those currencies, thus adversely affecting gross margins.
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
437
The Company has used derivative instruments, such as foreign currency forward and option contracts, to hedge certain exposures to fluctuations in foreign currency exchange rates.
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
438
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.
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
439
The Company is exposed to credit risk and fluctuations in the market values of its investment portfolio.
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
440
Although the Company has not recognized any significant losses to date on its cash, cash equivalents and marketable securities, any significant declines in their market values could materially adversely affect the Company’s financial condition and operating results.
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
441
Given the global nature of its business, the Company has both domestic and international investments.
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
442
Credit ratings and pricing of these investments can be negatively affected by liquidity, credit deterioration, financial results, economic risk, political risk, sovereign risk or other factors.
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
443
As a result, the value and liquidity of the Company’s cash, cash equivalents and marketable securities could decline and result in a significant impairment, which could materially adversely affect the Company’s financial condition and operating results.
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
444
The Company is exposed to credit risk on its trade accounts receivable, vendor non-trade receivables and prepayments related to long-term supply agreements.
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
445
This risk is heightened during periods when economic conditions worsen.
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
446
The Company distributes its products through third-party cellular network carriers, wholesalers, retailers and value-added resellers.
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
447
A substantial majority of the Company’s outstanding trade receivables are not covered by collateral or credit insurance.
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
448
The Company’s exposure to credit and collectability risk on its trade receivables is higher in certain international markets and its ability to mitigate such risks may be limited.
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
449
Cellular network carriers accounted for a significant portion of the Company’s trade receivables as of September 24, 2011.
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
450
The Company also has unsecured vendor non-trade receivables resulting from purchases of components by outsourcing partners and other vendors that manufacture sub-assemblies or assemble final products for the Company.
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
451
Two vendors accounted for a significant portion of the Company’s non-trade receivables as of September 24, 2011.
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
452
In addition, the Company has made prepayments associated with long-term supply agreements to secure supply of inventory components.
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
453
While the Company has procedures to monitor and limit exposure to credit risk on its trade and vendor non-trade receivables as well as long-term prepayments, there can be no assurance such procedures will effectively limit its credit risk and avoid losses, which could materially adversely affect the Company’s financial...
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
454
Unfavorable results of legal proceedings could materially adversely affect the Company.
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
455
The Company is subject to various legal proceedings and claims that have not yet been fully resolved and that have arisen in the ordinary conduct of business, and additional claims may arise in the future.
0001193125-11-282113/full-submission.txt
0000320193
20111026
10-K
456
Results of legal proceedings are subject to significant uncertainty and, regardless of the merit of the claims, litigation may be expensive, time-consuming, disruptive to the Company’s operations, and distracting to management.
0001193125-11-282113/full-submission.txt