What Changed
Risk factors · Jun 26, 2024 → Jun 26, 20257 added · 7 removed between the two most recent 10-Ks. The risks a company starts — or stops — disclosing are often the story.
Newly disclosed
- While we currently believe that our goodwill is not impaired, different assumptions regarding the future performance of our businesses could result in significant impairment losses.
- These risks include: ● political and economic instability; ● exchange controls and currency exchange rates; ● tariffs on products and ingredients that we import and export (including recent tariffs imposed or threatened to be imposed by the United States on China, Canada, Mexico, and other countries and any retaliatory actions taken by such countries); ● political sentiment impacting global trade, including the willingness of consumers outside the United States to purchase from United States corporations or to purchase products manufactured outside the country of sale; ● nationalization or government control of operations; ● compliance with anti-corruption regulations; ● foreign tax treaties and policies; and ● restriction on the transfer of funds to and from foreign countries, including potentially negative tax consequences.
- These limitations may require that we highlight perceived concerns about a product or product packaging, warn consumers to avoid consumption of certain ingredients or substances present in our products, restrict the audience to whom products are marketed or sold, limit the locations in which our products may be available, or discontinue the use of certain ingredients or packaging.
- We evaluate the useful lives of our intangible assets, primarily intangible assets associated with the Blue Buffalo , Pillsbury , Totino’s , Progresso , Old El Paso , Tiki Pets , Annie’s , Nudges , Edgard & Cooper , and Häagen-Dazs brands, to determine if they are finite or indefinite-lived.
- Legal and Regulatory Risks If our products become adulterated, misbranded, or mislabeled, we might need to recall those items and may experience product liability claims if consumers or their pets are injured.
- We may also be subject to new laws or regulations restricting the marketing or sale of our products because of ingredients or substances (including the processing thereof) in our products or product packaging.
- We may be unable to anticipate changes in consumer preferences and trends, which may result in decreased demand for our products.
No longer disclosed
- While we currently believe that our goodwill is not impaired, different assumptions regarding the future performance of our businesses could result in significant impairment losses. 13 We evaluate the useful lives of our intangible assets, primarily intangible assets associated with the Blue Buffalo , Pillsbury , Totino’s , Old El Paso , Progresso , Annie’s , Nudges , and Häagen-Dazs brands, to determine if they are finite or indefinite- lived.
- These risks include: ● political and economic instability; ● exchange controls and currency exchange rates; ● tariffs on products and ingredients that we import and export; ● nationalization or government control of operations; ● compliance with anti-corruption regulations; ● foreign tax treaties and policies; and ● restriction on the transfer of funds to and from foreign countries, including potentially negative tax consequences.
- We may also be subject to new laws or regulations restricting our right to advertise our products, including restrictions on the audience to whom products are marketed.
- A significant increase in our obligations or future funding requirements could have a negative impact on our results of operations and cash flows from operations.
- Our failure to successfully integrate acquisitions into our existing operations could adversely affect our financial results.
- We have announced goals and commitments to reduce our carbon footprint.
- Disruption of our supply chain could adversely affect our business.