72 added · 61 removed between the two most recent 10-Ks. The risks a company starts — or stops — disclosing are often the story.
Newly disclosed
As with the COVID-19 pandemic, such events could cause health officials to impose guidance, mandates, or recommendations which may result in temporary closures and limited working hours of retail locations, restrictions on physical store capacity, minimum physical distancing requirements, and other workforce disruptions.
Use of these AI tools could transform commerce, including in ways that we fail to anticipate, and affect our ability to efficiently attract potential customers to our digital platforms and retain our customer base.
This restructuring plan is substantially complete as of November 30, 2025, although certain aspects, including the transition of operations of certain of our global distribution and fulfillment centers to third-party logistics providers, remain ongoing.
The sale of the Dockers ® Andes, Malaysia and Turkey operations is expected to close on or around January 30, 2026 with the sale of the Europe and Mexico operations expected to close on or around February 27, 2026.
To ensure we maintain fair compensation consistent with our compensation philosophy, in 2023, we developed in-house capabilities with oversight from outside counsel to run gender and ethnicity pay equity analyses.
In fiscal year 2025, we sourced nearly all of our products from independent contract manufacturers that purchase fabric and make our products and may also provide us with design and development services.
We will continually assess the ability to patent new intellectual property as we develop technologies that we believe are innovative. 12 Table of Contents History and Corporate Citizenship Our story began in San Francisco, California in 1853 as a wholesale dry goods business.
In addition, customers are increasingly using AI shopping assistant tools to help find products, compare prices and make purchase decisions.
Following remediation for outliers, our analysis found compensation to be at parity across gender and ethnicity in the U.S. in both 2023 and 2024.
Similarly, following any outlier remediation, we found no statistically significant gender pay discrepancies across markets in both 2023 and 2024.
As of November 30, 2025, we had 87 issued U.S. patents, 17 issued foreign patents and 16 U.S. patent applications pending.
If these disruptions persist, they may require us to modify our current sourcing practices, which may impact our product costs, and, if not mitigated, could have a material adverse effect on our business and results of operations. • Trade policies and regulations, such as new, increased, or continuing uncertainty concerning tariffs or other trade restrictions may also increase the costs for imported materials and finished goods.
No longer disclosed
The extent of the impact of a pandemic or other health crisis on our business will depend on several factors, including the duration, spread and severity of the pandemic or health crisis, which are uncertain and cannot be predicted, and on the requirements to take action to help limit the spread of the illness and the availability, widespread distribution and acceptance of vaccines and treatments for the pandemic. 17 Table of Contents Other factors that could negatively affect our business, operations and financial performance in the future and prevent us, our employees, customers, vendors and manufacturers from conducting business activities for an indefinite period of time during a pandemic, epidemic, health crisis or any future outbreak of any highly infectious or contagious disease, include, but are not limited to: • government mandates, guidance or recommendations regarding future shutdowns or closure requirements; • other future operational restrictions and delays; • any recession or inflationary pressures, resulting directly or indirectly, from the pandemic; • delays in inventory orders and, in turn, delays in deliveries to our wholesale customers and a decrease in availability in our company-operated stores and e-commerce sites; • a decrease in productivity or other disruptions in our business due to our hybrid work from home policy; • an increased reliance by those working offsite on residential communication networks and internet providers, which may be more susceptible to service interruptions and cyberattacks and, thus, could result in an increase in phishing and other scams, fraud, money laundering, theft and other criminal activity; • a disruption, including a worker shortage, in or the temporary or permanent closing of the factories that manufacture our products, the ports and distribution centers where we manage our inventory or the operations of our logistics and other service providers; • a decrease in available raw materials; • carrier constraints due to an increase in digital sales; • a future decision by management to restrict operations or close stores to protect the health and safety of our employees, consumers and communities; • other threats to the health of our employees; • an increase in health care costs, resulting directly or indirectly, from the pandemic; and • negative general macroeconomic conditions.
Further, even if we are able to successfully identify and acquire additional businesses, we may not be able to successfully integrate the acquired personnel or operations, effectively manage the combined business following the acquisition, or the acquired business may have inadequate or ineffective controls and procedures, any of which could harm our business and financial condition.
The pursuit and integration of such acquisitions or investments may divert the attention of management and cause us to incur various expenses, regardless of whether the acquisition or investment is ultimately completed.
Our inability to secure production sources meeting our quality, cost, social and environmental risk mitigation and other requirements, or failures by our contract manufacturers to perform, could harm our sales, service levels and reputation In fiscal year 2024, we sourced nearly all of our products from independent contract manufacturers that purchase fabric and make our products and may also provide us with design and development services.
For example, if we decide to sell or otherwise dispose of certain product lines, we may be unable to do so on satisfactory terms within our anticipated timeframe or at all.
To help fulfill our commitment to fair and equitable compensation, we historically conducted an independent pay equity audit every other year for our U.S. non-union population, with the most recent audit completed in 2022.
For example, our global headquarters is located in California near major geologic faults that have experienced earthquakes in the past.
The Levi's ® , Dockers ® , Beyond Yoga ® and 501 ® trademarks, the Arcuate Stitching Design, the Tab Device, the Two Horse ® Design, the Housemark and the Wings and Anchor Design are among our core trademarks. 12 Table of Contents We protect these trademarks by registering them with the U.S.
For example, in 2024, CrowdStrike Holdings, Inc.
Dollar relative to major foreign currencies, including the Euro and Mexican Peso, unfavorably impacted our fiscal year 2024 results.
As of December 1, 2024, we had 82 issued U.S. patents, 17 issued foreign patents and 23 U.S. patent applications pending.
We use the data to identify potential adjustments to be incorporated into our annual performance review process for different groups in the U.S. population, including corporate and retail employees as well as distribution center management.