text
stringlengths 1.03k
343k
|
|---|
H. B. FULLER COMPANY Dated: February 25, 1997 By/s/ Walter Kissling -------------------------------- WALTER KISSLING President and Chief Executive Officer Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated: Signature Title - --------- ----- /s/ Walter Kissling President and - --------------------------- Chief Executive Officer and Director WALTER KISSLING (Principal Executive Officer) /s/ Jorge Walter Bolanos Senior Vice President, - --------------------------- Chief Financial Officer and Treasurer JORGE WALTER BOLANOS (Principal Financial Officer) /s/ David J. Maki Vice President and Controller - --------------------------- (Principal Accounting Officer) DAVID J. MAKI *ANTHONY L. ANDERSEN Chair, Board of Directors and Director *NORBERT R. BERG Director *EDWARD L. BRONSTIEN, JR. Director *ROBERT J. CARLSON Director *FREEMAN A. FORD Director *GAIL D. FOSLER Director *REATHA CLARK KING Director *JOHN J. MAURIEL, JR. Director *LEE R. MITAU Director *ROLF SCHUBERT Vice President and Director *LORNE C. WEBSTER Director By: /s/ Richard C. Baker Dated: February 25, 1997 - --------------------------- RICHARD C. BAKER Attorney in Fact *Power of Attorney filed with this report as Exhibit 24 hereto. |
H. B. FULLER COMPANY Dated: February 23, 1996 By /s/ Walter Kissling ------------------------------- WALTER KISSLING President and Chief Executive Officer Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated: Signature Title --------- ----- /s/ Walter Kissling President and - ----------------------------- Chief Executive Officer and Director WALTER KISSLING (Principal Executive Officer) /s/ Jorge Walter Bolanos Senior Vice President, - ----------------------------- Chief Financial Officer and Treasurer JORGE WALTER BOLANOS (Principal Financial Officer) /s/ David J. Maki Vice President and Controller - ----------------------------- (Principal Accounting Officer) DAVID J. MAKI *ANTHONY L. ANDERSEN Chair, Board of Directors and Director *NORBERT R. BERG Director *EDWARD L. BRONSTIEN, JR. Director *ROBERT J. CARLSON Director *FREEMAN A. FORD Director *GAIL D. FOSLER Director *REATHA CLARK KING Director *JOHN J. MAURIEL, JR. Director *ROLF SCHUBERT Vice President and Director *LORNE C. WEBSTER Director By: /s/ Richard C. Baker Dated: February 23, 1996 -------------------------- RICHARD C. BAKER Attorney in Fact *Power of Attorney filed with this report as Exhibit 24 hereto. |
With respect to our automotive group, the primary factors are: •the number of miles vehicles are driven annually, as higher vehicle mileage increases the need for maintenance and repair; •the number of vehicles in the automotive fleet, a function of new vehicle sales and vehicle scrappage rates, as a steady or growing total vehicle population supports the continued demand for maintenance and repair; •the quality of the vehicles manufactured by the original vehicle manufacturers and the length of the warranty or maintenance offered on new vehicles; •the number of vehicles in current service that are six years old and older, as these vehicles are typically no longer under the original vehicle manufacturers’ warranty and will need more maintenance and repair than newer vehicles; •the addition of electric vehicles, hybrid vehicles, ride sharing services, alternative transportation means and autonomously driven vehicles and future legislation related thereto; •gas prices, as increases in gas prices may deter consumers from using their vehicles; •changes in travel patterns, which may cause consumers to rely more on other transportation; •restrictions on access to diagnostic tools and repair information imposed by the original vehicle manufacturers or by governmental regulation, as consumers may be forced to have all diagnostic work, repairs and maintenance performed by the vehicle manufacturers’ dealer networks; and •the economy generally, which in declining conditions may cause consumers to defer vehicle maintenance and repair and defer discretionary spending. |
Risk Factors,” adverse changes in the following factors could undermine our business initiatives and have a material adverse effect on our business, financial condition, results of operations and cash flows: •the competitive environment in our end markets may force us to reduce prices below our desired pricing level or to increase promotional spending; •our ability to anticipate changes in consumer preferences and to meet customers’ needs for our products in a timely manner; •our ability to successfully enter new markets, including by successfully identifying and acquiring suitable acquisition targets in these new markets; •our ability to effectively manage our costs; •our ability to continue to grow through acquisitions and successfully integrate acquired businesses in our existing operations, including in particular the challenges associated with the integration of foreign operations to ensure the adequacy of internal controls; •our ability to identify and successfully implement appropriate technological, digital and e-commerce solutions; •the rate of adoption of electric vehicles, hybrid vehicles, ride sharing services, alternative transportation means and autonomously driven vehicles and future legislation related thereto; •the occurrence of unusually severe weather events, which can disrupt our operations (forcing temporary closure of retail and distribution centers, prohibiting shipment of inventory and products) and negatively impact our results in the affected geographies; •the occurrence of political unrest and strikes, which can disrupt our operations and negatively impact our results in the affected geographies; •volatility in oil prices, which could have a negative impact on the global economy and the economy of each of the nations in which we operate, in particular; •the adequacy of our disclosure controls and procedures and internal controls over financial reporting; and •the economy of each of the nations in which we operate in general, including the monetary policies of the Federal Reserve, which are influenced by various factors, including inflation, unemployment and short-term and long-term changes in the international trade balance and the fiscal policies of the U.S. government. |
During 2019, the Company’s Automotive Parts Group included National Automotive Parts Association ("NAPA") automotive parts distribution centers and automotive parts stores (“auto parts stores” or “NAPA AUTO PARTS stores”) owned and operated in the United States ("U.S.") by the Company; NAPA and Traction automotive parts distribution centers and auto parts stores in the U.S. and Canada owned and operated by the Company and NAPA Canada/UAP Inc. (“NAPA Canada/UAP”), a wholly-owned subsidiary of the Company; auto parts stores and distribution centers in the U.S. operated by corporations in which the Company owned either a noncontrolling or controlling interest; auto parts stores in Canada operated by corporations in which NAPA Canada/UAP owns a 50% interest; Repco and other automotive parts distribution centers, branches and auto parts stores in Australasia owned and operated by GPC Asia Pacific, a wholly-owned subsidiary of the Company; automotive parts distribution centers and auto parts stores in Europe, owned and operated by Alliance Automotive Group (“AAG”), a wholly-owned subsidiary of the Company; an import automotive parts distribution center in the U.S. owned by the Company and operated by its Altrom America division; an import automotive parts distribution center and branches in Canada owned and operated by Altrom Canada Corporation (“Altrom Canada”), a wholly-owned subsidiary of the Company; distribution centers in the U.S. owned by Balkamp, Inc. (“Balkamp”), a wholly-owned subsidiary of the Company; distribution facilities in the U.S. owned by the Company and operated by its Rayloc division; and an automotive parts distribution center and auto parts stores in Mexico, owned and operated by Autopartes NAPA Mexico ("NAPA Mexico"), a wholly-owned subsidiary of the Company. |
Risk Factors,” adverse changes in the following factors could undermine our business initiatives and have a material adverse effect on our business, financial condition, results of operations and cash flows: • the competitive environment in our end markets may force us to reduce prices below our desired pricing level or to increase promotional spending; • our ability to anticipate changes in consumer preferences and to meet customers’ needs for our products in a timely manner; • our ability to successfully enter new markets, including by successfully identifying and acquiring suitable acquisition targets in these new markets; • our ability to effectively manage our costs; • our ability to continue to grow through acquisitions and successfully integrate acquired businesses in our existing operations, including in particular the challenges associated with the integration of foreign operations to ensure the adequacy of internal controls; • our ability to identify and successfully implement appropriate technological, digital and e-commerce solutions; • the occurrence of unusually severe weather events, which can disrupt our operations (forcing temporary closure of retail and distribution centers, prohibiting shipment of inventory and products) and negatively impact our results in the affected geographies; • the occurrence of political unrest and strikes, which can disrupt our operations and negatively impact our results in the affected geographies; • volatility in oil prices, which could have a negative impact on the U.S. economy and, in particular, the economies of energy-dominant states in which we operate; • the adequacy of our disclosure controls and procedures and internal controls over financial reporting; and • the economy in general, including the monetary policies of the Federal Reserve, which are influenced by various factors, including inflation, unemployment and short-term and long-term changes in the international trade balance and the fiscal policies of the U.S. government. |
With respect to our automotive group, the primary factors are: • the number of miles vehicles are driven annually, as higher vehicle mileage increases the need for maintenance and repair; • the number of vehicles in the automotive fleet, a function of new vehicle sales and vehicle scrappage rates, as a steady or growing total vehicle population supports the continued demand for maintenance and repair; • the quality of the vehicles manufactured by the original vehicle manufacturers and the length of the warranty or maintenance offered on new vehicles; • the number of vehicles in current service that are six years old and older, as these vehicles are typically no longer under the original vehicle manufacturers’ warranty and will need more maintenance and repair than newer vehicles; • the addition of electric vehicles, hybrid vehicles, ride sharing services, alternative transportation means and autonomously driven vehicles and future legislation related thereto; • gas prices, as increases in gas prices may deter consumers from using their vehicles; • changes in travel patterns, which may cause consumers to rely more on other transportation; • restrictions on access to diagnostic tools and repair information imposed by the original vehicle manufacturers or by governmental regulation, as consumers may be forced to have all diagnostic work, repairs and maintenance performed by the vehicle manufacturers’ dealer networks; and • the economy generally, which in declining conditions may cause consumers to defer vehicle maintenance and repair and defer discretionary spending. |
During 2018, the Company’s Automotive Parts Group included NAPA automotive parts distribution centers and automotive parts stores (“auto parts stores” or “NAPA AUTO PARTS stores”) owned and operated in the U.S. by the Company; NAPA and Traction automotive parts distribution centers and auto parts stores in the U.S. and Canada owned and operated by the Company and NAPA Canada/UAP Inc. (“NAPA Canada/UAP”), a wholly-owned subsidiary of the Company; auto parts stores and distribution centers in the U.S. operated by corporations in which the Company owned either a noncontrolling or controlling interest; auto parts stores in Canada operated by corporations in which NAPA Canada/UAP owns a 50% interest; Repco and other automotive parts distribution centers, branches and auto parts stores in Australia and New Zealand owned and operated by GPC Asia Pacific, a wholly-owned subsidiary of the Company; automotive parts distribution centers and auto parts stores in Europe, owned and operated by Alliance Automotive Group (“AAG”), a wholly-owned subsidiary of the Company; an import automotive parts distribution center in the U.S. owned by the Company and operated by its Altrom America division; import automotive parts distribution centers in Canada owned and operated by Altrom Canada Corporation (“Altrom Canada”), a wholly-owned subsidiary of the Company; distribution centers in the U.S. owned by Balkamp, Inc. (“Balkamp”), a wholly-owned subsidiary of the Company; distribution facilities in the U.S. owned by the Company and operated by its Rayloc division; automotive parts distribution centers and auto parts stores in Mexico, owned and operated by Grupo Auto Todo, S.A. de C.V. (“Auto Todo”), a wholly-owned subsidiary of the Company; and an automotive parts distribution center and auto parts stores in Mexico, owned and operated by Autopartes NAPA Mexico ("NAPA Mexico"), a wholly-owned subsidiary of the Company. |
Risk Factors”, adverse changes in the following factors could undermine our business initiatives and have a material adverse effect on our business, financial condition, results of operations and cash flows: • the competitive environment in our end markets may force us to reduce prices below our desired pricing level or to increase promotional spending; • our ability to anticipate changes in consumer preferences and to meet customers’ needs for our products in a timely manner; • our ability to successfully enter new markets, including by successfully identifying and acquiring suitable acquisition targets in these new markets; • our ability to effectively manage our costs; • our ability to continue to grow through acquisitions and successfully integrate acquired businesses in our existing operations, including in particular the challenges associated with the integration of foreign operations to ensure the adequacy of internal controls; • our ability to identify and successfully implement appropriate technological, digital and e-commerce solutions; • the occurrence of unusually severe weather events, which can disrupt our operations (forcing temporary closure of retail and distribution centers, prohibiting shipment of inventory and products) and negatively impact our results in the affected geographies; • volatility in oil prices, which could have a negative impact on the U.S. economy and, in particular, the economies of energy-dominant states in which we operate; • the adequacy of our disclosure controls and procedures and internal controls over financial reporting; and • the economy in general, including the monetary policies of the Federal Reserve, which are influenced by various factors, including inflation, unemployment and short-term and long-term changes in the international trade balance and the fiscal policies of the U.S. government. |
With respect to our automotive group, the primary factors are: • the number of miles vehicles are driven annually, as higher vehicle mileage increases the need for maintenance and repair; • the number of vehicles in the automotive fleet, a function of new vehicle sales and vehicle scrappage rates, as a steady or growing total vehicle population supports the continued demand for maintenance and repair; • the quality of the vehicles manufactured by the original vehicle manufacturers and the length of the warranty or maintenance offered on new vehicles; • the number of vehicles in current service that are six years old and older, as these vehicles are typically no longer under the original vehicle manufacturers’ warranty and will need more maintenance and repair than newer vehicles; • the addition of electric vehicles, hybrid vehicles, ride sharing services, alternative transportation means and autonomously driven vehicles and future legislation related thereto; • gas prices, as increases in gas prices may deter consumers from using their vehicles; • changes in travel patterns, which may cause consumers to rely more on other transportation; • restrictions on access to diagnostic tools and repair information imposed by the original vehicle manufacturers or by governmental regulation, as consumers may be forced to have all diagnostic work, repairs and maintenance performed by the vehicle manufacturers’ dealer networks; and • the economy generally, which in declining conditions may cause consumers to defer vehicle maintenance and repair and defer discretionary spending. |
During 2017, the Company’s Automotive Parts Group included NAPA automotive parts distribution centers and automotive parts stores (“auto parts stores” or “NAPA AUTO PARTS stores”) owned and operated in the United States by the Company; NAPA and Traction automotive parts distribution centers and auto parts stores in the United States and Canada owned and operated by the Company and NAPA Canada/UAP Inc. (“NAPA Canada/UAP”), a wholly-owned subsidiary of the Company; auto parts stores and distribution centers in the United States operated by corporations in which the Company owned either a noncontrolling or controlling interest; auto parts stores in Canada operated by corporations in which NAPA Canada/UAP owns a 50% interest; Repco and other automotive parts distribution centers, branches and auto parts stores in Australia and New Zealand owned and operated by GPC Asia Pacific, a wholly-owned subsidiary of the Company; import automotive parts distribution centers in the United States owned by the Company and operated by its Altrom America division; import automotive parts distribution centers in Canada owned and operated by Altrom Canada Corporation (“Altrom Canada”), a wholly-owned subsidiary of the Company; distribution centers in the United States owned by Balkamp, Inc. (“Balkamp”), a wholly-owned subsidiary of the Company; distribution facilities in the United States owned by the Company and operated by its Rayloc division; automotive parts distribution centers and automotive parts stores in Mexico, owned and operated by Grupo Auto Todo, S.A. de C.V. (“Auto Todo”), a wholly-owned subsidiary of the Company; and an automotive parts distribution center and automotive parts stores in Mexico, owned and operated by Autopartes NAPA Mexico ("NAPA Mexico"), a wholly-owned subsidiary of the Company. |
Risk Factors”, adverse changes in the following factors could undermine our business initiatives and have a material adverse effect on our business, financial condition, results of operations and cash flows: • the competitive environment in our end markets may force us to reduce prices below our desired pricing level or to increase promotional spending; • our ability to anticipate changes in consumer preferences and to meet customers’ needs for our products in a timely manner; • our ability to successfully enter new markets, including by successfully identifying and acquiring suitable acquisition targets in these new markets; • our ability to effectively manage our costs; • our ability to continue to grow through acquisitions and successfully integrate acquired businesses in our existing operations; • our ability to identify and successfully implement appropriate technological, digital and e-commerce solutions; • the occurrence of unusually severe weather events, which can disrupt our operations (forcing temporary closure of retail and distribution centers, prohibiting shipment of inventory and products) and negatively impact our results in the affected geographies; and • the economy in general. |
With respect to our automotive group, the primary factors are: • the number of miles vehicles are driven annually, as higher vehicle mileage increases the need for maintenance and repair; • the number of vehicles in the automotive fleet, a function of new vehicle sales and vehicle scrappage rates, as a steady or growing total vehicle population supports the continued demand for maintenance and repair; • the quality of the vehicles manufactured by the original vehicle manufacturers and the length of the warranty or maintenance offered on new vehicles; • the number of vehicles in current service that are six years old and older, as these vehicles are typically no longer under the original vehicle manufacturers’ warranty and will need more maintenance and repair than newer vehicles; • the addition of electric vehicles, hybrid vehicles, and autonomously driven vehicles and future legislation related thereto; • gas prices, as increases in gas prices may deter consumers from using their vehicles; • changes in travel patterns, which may cause consumers to rely more on other transportation; • restrictions on access to diagnostic tools and repair information imposed by the original vehicle manufacturers or by governmental regulation, as consumers may be forced to have all diagnostic work, repairs and maintenance performed by the vehicle manufacturers’ dealer networks; and • the economy generally, which in declining conditions may cause consumers to defer vehicle maintenance and repair and defer discretionary spending. |
Report of independent registered public accounting firm on internal control over financial reporting Report of independent registered public accounting firm on the financial statements Consolidated balance sheets - December 31, 2017 and 2016 Consolidated statements of income and comprehensive income - Years ended December 31, 2017, 2016 and 2015 Consolidated statements of equity - Years ended December 31, 2017, 2016 and 2015 Consolidated statements of cash flows - Years ended December 31, 2017, 2016 and 2015 Notes to consolidated financial statements - December 31, 2017 (2) Financial Statement Schedules The following consolidated financial statement schedule of Genuine Parts Company and Subsidiaries, set forth immediately following the consolidated financial statements of Genuine Parts Company and Subsidiaries, is filed pursuant to Item 15(c): Schedule II - Valuation and Qualifying Accounts All other schedules for which provision is made in the applicable accounting regulations of the Securities and Exchange Commission are not required under the related instructions or are not applicable, and therefore have been omitted. |
During 2016, the Company’s Automotive Parts Group included NAPA automotive parts distribution centers and automotive parts stores (“auto parts stores” or “NAPA AUTO PARTS stores”) owned and operated in the United States by the Company; NAPA and Traction automotive parts distribution centers and auto parts stores in the United States and Canada owned and operated by the Company and NAPA Canada/UAP Inc. (“NAPA Canada/UAP”), a wholly-owned subsidiary of the Company; auto parts stores and distribution centers in the United States operated by corporations in which the Company owned either a noncontrolling or controlling interest; auto parts stores in Canada operated by corporations in which UAP owns a 50% interest; Repco and other automotive parts distribution centers, branches and auto parts stores in Australia and New Zealand owned and operated by GPC Asia Pacific, a wholly-owned subsidiary of the Company; import automotive parts distribution centers in the United States owned by the Company and operated by its Altrom America division; import automotive parts distribution centers in Canada owned and operated by Altrom Canada Corporation (“Altrom Canada”), a wholly-owned subsidiary of the Company; distribution centers in the United States owned by Balkamp, Inc. (“Balkamp”), a wholly-owned subsidiary of the Company; distribution facilities in the United States owned by the Company and operated by its Rayloc division; automotive parts distribution centers and automotive parts stores in Mexico, owned and operated by Grupo Auto Todo, S.A. de C.V. (“Auto Todo”), a wholly-owned subsidiary of the Company; and an automotive parts distribution center and automotive parts stores in Mexico, owned and operated by Autopartes NAPA Mexico ("NAPA Mexico"), a wholly-owned subsidiary of the Company. |
With respect to our automotive group, the primary factors are: • the number of miles vehicles are driven annually, as higher vehicle mileage increases the need for maintenance and repair; • the number of vehicles in the automotive fleet, a function of new vehicle sales and vehicle scrappage rates, as a steady or growing total vehicle population supports the continued demand for maintenance and repair; • the quality of the vehicles manufactured by the original vehicle manufacturers and the length of the warranty or maintenance offered on new vehicles; • the number of vehicles in current service that are six years old and older, as these vehicles are typically no longer under the original vehicle manufacturers’ warranty and will need more maintenance and repair than newer vehicles; • gas prices, as increases in gas prices may deter consumers from using their vehicles; • changes in travel patterns, which may cause consumers to rely more on other transportation; • restrictions on access to diagnostic tools and repair information imposed by the original vehicle manufacturers or by governmental regulation, as consumers may be forced to have all diagnostic work, repairs and maintenance performed by the vehicle manufacturers’ dealer networks; and • the economy generally, which in declining conditions may cause consumers to defer vehicle maintenance and repair and defer discretionary spending. |
Report of independent registered public accounting firm on internal control over financial reporting Report of independent registered public accounting firm on the financial statements Consolidated balance sheets - December 31, 2016 and 2015 Consolidated statements of income and comprehensive income - Years ended December 31, 2016, 2015 and 2014 Consolidated statements of equity - Years ended December 31, 2016, 2015 and 2014 Consolidated statements of cash flows - Years ended December 31, 2016, 2015 and 2014 Notes to consolidated financial statements - December 31, 2016 (2) Financial Statement Schedules The following consolidated financial statement schedule of Genuine Parts Company and Subsidiaries, set forth immediately following the consolidated financial statements of Genuine Parts Company and Subsidiaries, is filed pursuant to Item 15(c): Schedule II - Valuation and Qualifying Accounts All other schedules for which provision is made in the applicable accounting regulations of the Securities and Exchange Commission are not required under the related instructions or are not applicable, and therefore have been omitted. |
During 2015, the Company’s Automotive Parts Group included NAPA automotive parts distribution centers and automotive parts stores (“auto parts stores” or “NAPA AUTO PARTS stores”) owned and operated in the United States by the Company; NAPA and Traction automotive parts distribution centers and auto parts stores in the United States and Canada owned and operated by the Company and NAPA Canada/UAP Inc. (“NAPA Canada/UAP”), a wholly-owned subsidiary of the Company; auto parts stores and distribution centers in the United States operated by corporations in which the Company owned either a noncontrolling or controlling interest; auto parts stores in Canada operated by corporations in which UAP owns a 50% interest; Repco and other automotive parts distribution centers, branches and auto parts stores in Australia and New Zealand owned and operated by GPC Asia Pacific, a wholly-owned subsidiary of the Company; import automotive parts distribution centers in the United States owned by the Company and operated by its Altrom America division; import automotive parts distribution centers in Canada owned and operated by Altrom Canada Corporation (“Altrom Canada”), a wholly-owned subsidiary of the Company; distribution centers in the United States owned by Balkamp, Inc. (“Balkamp”), a wholly-owned subsidiary of the Company; distribution facilities in the United States owned by the Company and operated by its Rayloc division; automotive parts distribution centers and automotive parts stores in Mexico, owned and operated by Grupo Auto Todo, S.A. de C.V. (“Auto Todo”), a wholly-owned subsidiary of the Company; and an automotive parts distribution center and automotive parts stores in Mexico, owned and operated by Autopartes NAPA Mexico (“NAPA Mexico”), a wholly-owned subsidiary of the Company. |
With respect to our automotive group, the primary factors are: • the number of miles vehicles are driven annually, as higher vehicle mileage increases the need for maintenance and repair; • the number of vehicles in the automotive fleet, a function of new vehicle sales and vehicle scrappage rates, as a steady or growing total vehicle population supports the continued demand for maintenance and repair; • the quality of the vehicles manufactured by the original vehicle manufacturers and the length of the warranty or maintenance offered on new vehicles; • the number of vehicles in current service that are six years old and older, as these vehicles are typically no longer under the original vehicle manufacturers’ warranty and will need more maintenance and repair than newer vehicles; • gas prices, as increases in gas prices may deter consumers from using their vehicles; • changes in travel patterns, which may cause consumers to rely more on other transportation; • restrictions on access to diagnostic tools and repair information imposed by the original vehicle manufacturers or by governmental regulation, as consumers may be forced to have all diagnostic work, repairs and maintenance performed by the vehicle manufacturers’ dealer networks; and • the economy generally, which in declining conditions may cause consumers to defer vehicle maintenance and repair and defer discretionary spending. |
Report of independent registered public accounting firm on internal control over financial reporting Report of independent registered public accounting firm on the financial statements Consolidated balance sheets - December 31, 2015 and 2014 Consolidated statements of income and comprehensive income - Years ended December 31, 2015, 2014 and 2013 Consolidated statements of equity - Years ended December 31, 2015, 2014 and 2013 Consolidated statements of cash flows - Years ended December 31, 2015, 2014 and 2013 Notes to consolidated financial statements - December 31, 2015 (2) Financial Statement Schedules The following consolidated financial statement schedule of Genuine Parts Company and Subsidiaries, set forth immediately following the consolidated financial statements of Genuine Parts Company and Subsidiaries, is filed pursuant to Item 15(c): Schedule II - Valuation and Qualifying Accounts All other schedules for which provision is made in the applicable accounting regulations of the Securities and Exchange Commission are not required under the related instructions or are not applicable, and therefore have been omitted. |
During 2014, the Company’s Automotive Parts Group included NAPA automotive parts distribution centers and automotive parts stores (“auto parts stores” or “NAPA AUTO PARTS stores”) owned and operated in the United States by the Company; NAPA and Traction automotive parts distribution centers and auto parts stores in the United States and Canada owned and operated by the Company and NAPA Canada/UAP Inc. (“NAPA Canada/UAP”), a wholly-owned subsidiary of the Company; auto parts stores and distribution centers in the United States operated by corporations in which the Company owned either a noncontrolling or controlling interest; auto parts stores in Canada operated by corporations in which UAP owns a 50% interest; Repco and other automotive parts distribution centers, branches and auto parts stores in Australia and New Zealand owned and operated by GPC Asia Pacific, a wholly-owned subsidiary of the Company; import automotive parts distribution centers in the United States owned by the Company and operated by its Altrom America division; import automotive parts distribution centers in Canada owned and operated by Altrom Canada Corporation (“Altrom Canada”), a wholly-owned subsidiary of the Company; distribution centers in the United States owned by Balkamp, Inc. (“Balkamp”), a wholly-owned subsidiary of the Company; distribution facilities in the United States owned by the Company and operated by its Rayloc division; and automotive parts distribution centers and automotive parts stores in Mexico, owned and operated by Grupo Auto Todo, S.A. de C.V. (“Auto Todo”), a wholly-owned subsidiary of the Company. |
With respect to our automotive group, the primary factors are: • the number of miles vehicles are driven annually, as higher vehicle mileage increases the need for maintenance and repair; • the number of vehicles in the automotive fleet, a function of new vehicle sales and vehicle scrappage rates, as a steady or growing total vehicle population supports the continued demand for maintenance and repair; • the quality of the vehicles manufactured by the original vehicle manufacturers and the length of the warranty or maintenance offered on new vehicles; • the number of vehicles in current service that are six years old and older, as these vehicles are typically no longer under the original vehicle manufacturers’ warranty and will need more maintenance and repair than newer vehicles; • gas prices, as increases in gas prices may deter consumers from using their vehicles; • changes in travel patterns, which may cause consumers to rely more on other transportation; • restrictions on access to diagnostic tools and repair information imposed by the original vehicle manufacturers or by governmental regulation, as consumers may be forced to have all diagnostic work, repairs and maintenance performed by the vehicle manufacturers’ dealer networks; and • the economy generally, which in declining conditions may cause consumers to defer vehicle maintenance and repair and defer discretionary spending. |
Report of independent registered public accounting firm on internal control over financial reporting Report of independent registered public accounting firm on the financial statements Consolidated balance sheets - December 31, 2014 and 2013 Consolidated statements of income and comprehensive income - Years ended December 31, 2014, 2013 and 2012 Consolidated statements of equity - Years ended December 31, 2014, 2013 and 2012 Consolidated statements of cash flows - Years ended December 31, 2014, 2013 and 2012 Notes to consolidated financial statements - December 31, 2014 (2) Financial Statement Schedules The following consolidated financial statement schedule of Genuine Parts Company and subsidiaries, set forth immediately following the consolidated financials statements of Genuine Parts Company and Subsidiaries, is filed pursuant to Item 15(c): Schedule II - Valuation and Qualifying Accounts All other schedules for which provision is made in the applicable accounting regulations of the Securities and Exchange Commission are not required under the related instructions or are inapplicable, and therefore have been omitted. |
During 2013, the Company’s Automotive Parts Group included NAPA automotive parts distribution centers and automotive parts stores (“auto parts stores” or “NAPA AUTO PARTS stores”) owned and operated in the United States by the Company; NAPA and Traction automotive parts distribution centers and auto parts stores in the United States and Canada owned and operated by the Company and NAPA Canada/UAP Inc. (“NAPA Canada/UAP”), a wholly-owned subsidiary of the Company; auto parts stores and distribution centers in the United States operated by corporations in which the Company owned either a noncontrolling or controlling interest; auto parts stores in Canada operated by corporations in which UAP owns a 50% interest; import automotive parts distribution centers in the United States owned by the Company and operated by its Altrom America division; import automotive parts distribution centers in Canada owned and operated by Altrom Canada Corporation (“Altrom Canada”), a wholly-owned subsidiary of the Company; distribution centers in the United States owned by Balkamp, Inc. (“Balkamp”), a wholly-owned subsidiary of the Company; distribution facilities in the United States owned by the Company and operated by its Rayloc division; and automotive parts distribution centers and automotive parts stores in Mexico, owned and operated by Grupo Auto Todo, S.A. de C.V. (“Auto Todo”), a wholly-owned subsidiary of the Company. |
With respect to our automotive group, the primary factors are: • the number of miles vehicles are driven annually, as higher vehicle mileage increases the need for maintenance and repair; • the quality of the vehicles manufactured by the original vehicle manufacturers and the length of the warranty or maintenance offered on new vehicles; • the number of vehicles in current service that are six years old and older, as these vehicles are typically no longer under the original vehicle manufacturers’ warranty and will need more maintenance and repair than newer vehicles; • gas prices, as increases in gas prices may deter consumers from using their vehicles; • changes in travel patterns, which may cause consumers to rely more on other transportation; • restrictions on access to diagnostic tools and repair information imposed by the original vehicle manufacturers or by governmental regulation, as consumers may be forced to have all diagnostic work, repairs and maintenance performed by the vehicle manufacturers’ dealer networks; and • the economy generally, which in declining conditions may cause consumers to defer vehicle maintenance and repair and defer discretionary spending. |
Report of independent registered public accounting firm on internal control over financial reporting Report of independent registered public accounting firm on the financial statements Consolidated balance sheets - December 31, 2013 and 2012 Consolidated statements of income and comprehensive income - Years ended December 31, 2013, 2012 and 2011 Consolidated statements of equity - Years ended December 31, 2013, 2012 and 2011 Consolidated statements of cash flows - Years ended December 31, 2013, 2012 and 2011 Notes to consolidated financial statements - December 31, 2013 (2) Financial Statement Schedules The following consolidated financial statement schedule of Genuine Parts Company and subsidiaries, set forth immediately following the consolidated financials statements of Genuine Parts Company and Subsidiaries, is filed pursuant to Item 15(c): Schedule II - Valuation and Qualifying Accounts All other schedules for which provision is made in the applicable accounting regulations of the Securities and Exchange Commission are not required under the related instructions or are inapplicable, and therefore have been omitted. |
During 2012, the Company’s Automotive Parts Group included NAPA automotive parts distribution centers and automotive parts stores (“auto parts stores” or “NAPA AUTO PARTS stores”) owned and operated in the United States by the Company; NAPA and Traction automotive parts distribution centers and auto parts stores in the United States and Canada owned and operated by the Company and NAPA Canada/UAP Inc. (“NAPA Canada/UAP”), a wholly-owned subsidiary of the Company; auto parts stores and distribution centers in the United States operated by corporations in which the Company owned either a noncontrolling or controlling interest; auto parts stores in Canada operated by corporations in which UAP owns a 50% interest; import automotive parts distribution centers in the United States owned by the Company and operated by its Altrom America division; import automotive parts distribution centers in Canada owned and operated by Altrom Canada Corporation (“Altrom Canada”), a wholly-owned subsidiary of the Company; distribution centers in the United States owned by Balkamp, Inc. (“Balkamp”), a wholly-owned subsidiary of the Company; distribution facilities in the United States owned by the Company and operated by its Rayloc division; and automotive parts distribution centers and automotive parts stores in Mexico, owned and operated by Grupo Auto Todo, S.A. de C.V. (“Auto Todo”), a wholly-owned subsidiary of the Company. |
With respect to our automotive group, the primary factors are: • the number of miles vehicles are driven annually, as higher vehicle mileage increases the need for maintenance and repair; • the quality of the vehicles manufactured by the original vehicle manufacturers and the length of the warranty or maintenance offered on new vehicles; • the number of vehicles in current service that are six years old and older, as these vehicles are typically no longer under the original vehicle manufacturers’ warranty and will need more maintenance and repair than newer vehicles; • gas prices, as increases in gas prices may deter consumers from using their vehicles; • changes in travel patterns, which may cause consumers to rely more on other transportation; • restrictions on access to diagnostic tools and repair information imposed by the original vehicle manufacturers or by governmental regulation, as consumers may be forced to have all diagnostic work, repairs and maintenance performed by the vehicle manufacturers’ dealer networks; and • the economy generally, which in declining conditions may cause consumers to defer vehicle maintenance and repair and defer discretionary spending. |
Report of independent registered public accounting firm on internal control over financial reporting Report of independent registered public accounting firm on the financial statements Consolidated balance sheets - December 31, 2012 and 2011 Consolidated statements of income and comprehensive income - Years ended December 31, 2012, 2011 and 2010 Consolidated statements of equity - Years ended December 31, 2012, 2011 and 2010 Consolidated statements of cash flows - Years ended December 31, 2012, 2011 and 2010 Notes to consolidated financial statements - December 31, 2012 (2) Financial Statement Schedules The following consolidated financial statement schedule of Genuine Parts Company and subsidiaries, set forth immediately following the consolidated financials statements of Genuine Parts Company and Subsidiaries, is filed pursuant to Item 15(c): Schedule II - Valuation and Qualifying Accounts All other schedules for which provision is made in the applicable accounting regulations of the Securities and Exchange Commission are not required under the related instructions or are inapplicable, and therefore have been omitted. |
During 2011, the Company’s Automotive Parts Group included NAPA automotive parts distribution centers and automotive parts stores (“auto parts stores” or “NAPA AUTO PARTS stores”) owned and operated in the United States by the Company; NAPA and Traction automotive parts distribution centers and auto parts stores in the United States and Canada owned and operated by the Company and NAPA Canada/UAP Inc. (“NAPA Canada/UAP”), a wholly-owned subsidiary of the Company; auto parts stores and distribution centers in the United States operated by corporations in which the Company owned either a noncontrolling or controlling interest; auto parts stores in Canada operated by corporations in which UAP owns a 50% interest; import automotive parts distribution centers in the United States owned by the Company and operated by its Altrom America division; import automotive parts distribution centers in Canada owned and operated by Altrom Canada Corporation (“Altrom Canada”), a wholly-owned subsidiary of the Company; distribution centers in the United States owned by Balkamp, Inc. (“Balkamp”), a wholly-owned subsidiary of the Company; distribution facilities in the United States owned by the Company and operated by its Rayloc division; and automotive parts distribution centers and automotive parts stores in Mexico, owned and operated by Grupo Auto Todo, S.A. de C.V. (“Auto Todo”), a wholly-owned subsidiary of the Company. |
With respect to our automotive group, the primary factors are: • the number of miles vehicles are driven annually, as higher vehicle mileage increases the need for maintenance and repair; • the quality of the vehicles manufactured by the original vehicle manufacturers and the length of the warranty or maintenance offered on new vehicles; • the number of vehicles in current service that are six years old and older, as these vehicles are typically no longer under the original vehicle manufacturers’ warranty and will need more maintenance and repair than newer vehicles; • gas prices, as increases in gas prices may deter consumers from using their vehicles; • changes in travel patterns, which may cause consumers to rely more on other transportation; • restrictions on access to diagnostic tools and repair information imposed by the original vehicle manufacturers or by governmental regulation, as consumers may be forced to have all diagnostic work, repairs and maintenance performed by the vehicle manufacturers’ dealer networks; and • the economy generally, which in declining conditions may cause consumers to defer vehicle maintenance and repair and defer discretionary spending. |
Report of independent registered public accounting firm on internal control over financial reporting Report of independent registered public accounting firm on the financial statements Consolidated balance sheets - December 31, 2011 and 2010 Consolidated statements of income - Years ended December 31, 2011, 2010 and 2009 Consolidated statements of equity - Years ended December 31, 2011, 2010 and 2009 Consolidated statements of cash flows - Years ended December 31, 2011, 2010 and 2009 Notes to consolidated financial statements - December 31, 2011 (2) Financial Statement Schedules The following consolidated financial statement schedule of Genuine Parts Company and subsidiaries, set forth immediately following the consolidated financial statements of Genuine Parts Company and Subsidiaries, is filed pursuant to Item 15(c): Schedule II - Valuation and Qualifying Accounts All other schedules for which provision is made in the applicable accounting regulations of the Securities and Exchange Commission are not required under the related instructions or are inapplicable, and therefore have been omitted. |
BOARD OF DIRECTORS AND OFFICERS OF THE COMPANY BOARD OF DIRECTORS Dr. Mary B. Bullock President Emerita of Agnes Scott College Jean Douville Chairman of the Board of Directors of UAP Inc. Thomas C. Gallagher Chairman and Chief Executive Officer George C. “Jack” Guynn Retired President and Chief Executive Officer of the Federal Reserve Bank of Atlanta John R. Holder Chairman and Chief Executive Officer of Holder Properties John D. Johns Chairman, President & Chief Executive Officer of Protective Life Corporation Michael M. E. Johns, MD Chancellor of Emory University and Executive Vice President for Health Affairs, Emeritus J. Hicks Lanier Chairman of the Board of Directors and Chief Executive Officer of Oxford Industries, Inc. Robert C. “Robin” Loudermilk, Jr. President and Chief Executive Officer of The Loudermilk Companies, LLC Wendy B. Needham Retired Managing Director, Global Automotive Research at Credit Suisse First Boston Jerry W. Nix Vice Chairman and Chief Financial Officer Gary W. Rollins President and Chief Executive Officer of Rollins Inc. Corporate Officers Thomas C. Gallagher Chairman and Chief Executive Officer Jerry W. Nix Vice Chairman and Chief Financial Officer Paul D. Donahue President Treg S. Brown Senior Vice President - Planning and Acquisitions Charles A. Chesnutt Senior Vice President - Technology and Process Improvement R. Bruce Clayton Senior Vice President - Human Resources Frank M. Howard Senior Vice President and Treasurer Michael D. Orr Senior Vice President - Operations and Logistics Scott C. Smith Senior Vice President - Corporate Counsel Carol B. Yancey Senior Vice President - Finance and Corporate Secretary Philip C. Johnson Vice President - Compensation Sidney G. Jones Vice President - Investor Relations Karl J. Koenig Vice President - Real Estate and Construction Eric N. Sundby Vice President - Information Technology David A. Haskett Assistant Vice President and Corporate Controller Napoleon B. Rutledge, Jr. Assistant Vice President - Internal Audit U.S. |
Automotive Parts Group Paul D. Donahue President Lee A. Maher Executive Vice President and Chief Operating Officer Glenn M. Chambers Executive Vice President - Operations Scott W. LeProhon Executive Vice President - Merchandising and Product Strategy Daniel F. Askey Senior Vice President - Sales Todd P. Helms Senior Vice President - Human Resources Gregory N. Miller Senior Vice President and Chief Financial Officer W. Larry Bevil Vice President - Information Systems J. Richard Borman Vice President - Supply Chain and Logistics Michael A. Briggs Vice President - Retail Product Management and Merchandising Byron H. Frantz Vice President - Wholesale Product Management Michael J. Fusaro Vice President - Process Improvement - Distribution Richard A. Geiger Vice President - Finance Mark W. Hohe Vice President - Store Operations David B. Nicki Vice President - NAPA Tools and Equipment Sales J. Michael Phillips Vice President - Organizational Development Bret A. Robyck Vice President - AutoCare Sales Gaylord M. Spencer Vice President - Marketing Strategy Michael L. Swartz Vice President - Inventory & Procurement Dennis P. Tolivar Vice President - Major Accounts DIVISIONS M. Todd McMurtrie Vice President - Atlantic Division Grant L. Morris Vice President - Central Division Michael J. Kelleher Vice President - Eastern Division Gregg T. Sargent Vice President - Florida Division Kevin E. Herron Vice President - Midwest Division Eric G. Fritsch Vice President - Mountain Division Patrick A. Wolfe Vice President - Southern Division Stuart A. Kambury Vice President - Southwest Division Bradley A. Shaffer Vice President - Western Division Heavy Vehicle Parts Group (Atlanta, GA) D. Gary Silva President Greg A. Lancour Vice President - Operations Rayloc (Atlanta, GA) William J. Westerman III President Damon E. Elmore Vice President - Human Resources Michael S. Gaffney II Vice President - Marketing Joseph W. Lashley Vice President - Information Services Debbie E. Niffin Vice President - Finance Balkamp, Inc. (Indianapolis, IN) D. Tip Tollison President Frank C. Amato Executive Vice President Mary F. Knudsen Vice President - Finance and Treasurer Grupo Auto Todo (Puebla, Mexico) Juan Lujambio President and Chief Executive Officer Jorge Otero Executive Vice President - Finance Altrom Import Parts Group (Vancouver, Canada) Scott S. Mountford President - Altrom North America Dean P. Medwid Vice President and General Manager - Altrom Canada NAPA Canada/UAP Inc. (Montreal, Canada) Jean Douville Chairman of the Board Robert Hattem President and Chief Operating Officer Alain Masse Executive Vice President - Heavy Vehicle Parts Division Daniel Dallaire Vice President - Human Resources Joseph P. Herauf Vice President - Sales Thomas Hunt Vice President - Product Development Mark Miron Vice President - Distribution & Logistics Frank Pipito Vice President - Finance & Secretary EIS, Inc. (Atlanta, GA) Robert W. Thomas President and Chief Executive Officer Alexander Gonzalez Senior Vice President - Electrical and Assembly Larry L. Griffin Senior Vice President - Marketing Thomas A. Jones Senior Vice President - Manufacturing William C. Knight Senior Vice President - Logistics and Operations David T. Quinn Senior Vice President - Seacoast Electric Division Peter F. Sheehan Senior Vice President - Specialty Wire and Cable Matthew C. Tyser Senior Vice President - Finance and Secretary Motion Industries (Birmingham, AL) William J. Stevens President and Chief Executive Officer Timothy P. Breen Executive Vice President and Chief Operating Officer - U.S. G. Harold Dunaway, Jr. Executive Vice President - Finance & Administration and Secretary Randall P. Breaux Senior Vice President - Marketing, Strategic Planning and Product Support Anthony G. Cefalu Senior Vice President and Group Executive - Central and Hose & Rubber Ellen H. Holladay Senior Vice President, Chief Information Officer and Operational Excellence Officer R. David James Senior Vice President - Business Development Scott A. MacPherson Senior Vice President - Sales Kenneth L. McGrew Senior Vice President and Chief Operating Officer - Industrial Supplies James R. Neill Senior Vice President - Human Resources Mark W. Sheehan Senior Vice President and President - Motion Mexico Kevin P. Storer Senior Vice President & Group Executive - West Gerald V. Sourbeer Senior Vice President and Group Executive - Southeast Mark R. Thompson Senior Vice President - Corporate Accounts Randy R. Till Senior Vice President & Group Executive - East John D. Walters Senior Vice President & Group Executive - Southwest Zahirudin K. Hameer Vice President - Inventory Management M. Keith Knight Vice President - Business Systems Douglas R. Osborne Vice President and Director - Operational Excellence C. Jeff Rouse Vice President - Government Sales and Export Brandon C. Scordino Vice President - Technology Planning and Development James R. Summers Vice President - Systems Assurance & Data Center Operations J. Marvin Walker Vice President - Finance James F. Williams Vice President - Corporate Purchasing Dermot R. Strong President - Motion Canada S. P. Richards Company (Atlanta, GA) C. Wayne Beacham Chairman of the Board and Chief Executive Officer Richard T. Toppin President and Chief Operating Officer Steven E. Lynn Senior Vice President - Merchandising Donald C. Mikolasy Senior Vice President - Sales James F. O’Brien Senior Vice President - Marketing Dennis J. Arnold Vice President - Furniture John K. Burgess Vice President - Sales E. Chadwick Lee Vice President - Logistics Charles E. Macpherson Vice President - Strategic Pricing Tom C. Maley Vice President - Business Development & Analytics G. Henry Martin Vice President - Human Resources Brian M. McGill Vice President - Information Systems & CIO James C. Moseley Vice President - Information Systems John R. Reagan Vice President - Merchandising Thomas M. Testa Vice President - Sales J. Phillip Welch, Jr. Vice President - Finance, Controller, Secretary and Treasurer Chris F. Whiting Vice President - Cleaning and Breakroom Supply Bryan A. Wight Vice President - Sales - Emerging Markets Lester P. Christian Vice President - Southeast Division Bryan T. Hall Vice President - South Central Division Gregory L. Nissen Vice President - Western Division James P. O’Connor Vice President - Northeast Division Richard A. Wiltz Vice President - North Central Division Peter R. Dalglish Managing Director - S. P. Richards Canada |
During 2010, the Company’s Automotive Parts Group included NAPA automotive parts distribution centers and automotive parts stores (“auto parts stores” or “NAPA AUTO PARTS stores”) owned and operated in the United States by the Company; NAPA and Traction automotive parts distribution centers and auto parts stores in the United States and Canada owned and operated by the Company and NAPA Canada/UAP Inc. (“NAPA Canada/UAP”), a wholly-owned subsidiary of the Company; auto parts stores and distribution centers in the United States operated by corporations in which the Company owned either a noncontrolling or controlling interest; auto parts stores in Canada operated by corporations in which UAP owns a 50% interest; import automotive parts distribution centers in the United States owned by the Company and operated by its Altrom America division; import automotive parts distribution centers in Canada owned and operated by Altrom Canada Corporation (“Altrom Canada”), a wholly-owned subsidiary of the Company; distribution centers in the United States owned by Balkamp, Inc. (“Balkamp”), a wholly-owned subsidiary of the Company; rebuilding and distribution plants in the United States owned by the Company and operated by its Rayloc division; and automotive parts distribution centers and automotive parts stores in Mexico, owned and operated by Grupo Auto Todo, S.A. de C.V. (“Auto Todo”), a wholly-owned subsidiary of the Company. |
With respect to our automotive group, the primary factors are: • the number of miles vehicles are driven annually, as higher vehicle mileage increases the need for maintenance and repair; • the quality of the vehicles manufactured by the original vehicle manufacturers and the length of the warranty or maintenance offered on new vehicles; • the number of vehicles in current service that are six years old and older, as these vehicles are typically no longer under the original vehicle manufacturers’ warranty and will need more maintenance and repair than newer vehicles; • gas prices, as increases in gas prices may deter consumers from using their vehicles; • changes in travel patterns which may cause consumers to rely more on other transportation; • restrictions on access to diagnostic tools and repair information imposed by the original vehicle manufacturers or by governmental regulation, as consumers may be forced to have all diagnostic work, repairs and maintenance performed by the vehicle manufacturers’ dealer networks; and • the economy generally, which in declining conditions may cause consumers to defer vehicle maintenance and repair and defer discretionary spending. |
Report of independent registered public accounting firm on internal control over financial reporting Report of independent registered public accounting firm on the financial statements Consolidated balance sheets - December 31, 2010 and 2009 Consolidated statements of income - Years ended December 31, 2010, 2009 and 2008 Consolidated statements of equity - Years ended December 31, 2010, 2009 and 2008 Consolidated statements of cash flows - Years ended December 31, 2010, 2009 and 2008 Notes to consolidated financial statements - December 31, 2010 (2) Financial Statement Schedules The following consolidated financial statement schedule of Genuine Parts Company and subsidiaries, set forth immediately following the consolidated financials statements of Genuine Parts Company and Subsidiaries, is filed pursuant to Item 15(c): Schedule II - Valuation and Qualifying Accounts All other schedules for which provision is made in the applicable accounting regulations of the Securities and Exchange Commission are not required under the related instructions or are inapplicable, and therefore have been omitted. |
During 2009, the Company’s Automotive Parts Group included NAPA automotive parts distribution centers and automotive parts stores (“auto parts stores” or “NAPA AUTO PARTS stores”) owned and operated in the United States by the Company; NAPA and Traction automotive parts distribution centers and auto parts stores in the United States and Canada owned and operated by the Company and NAPA Canada/UAP Inc. (“NAPA Canada/UAP”), a wholly-owned subsidiary of the Company; auto parts stores and distribution centers in the United States operated by corporations in which the Company owned either a noncontrolling or controlling interest; auto parts stores in Canada operated by corporations in which UAP owns a 50% interest; import automotive parts distribution centers in the United States owned by the Company and operated by its Altrom America division; import automotive parts distribution centers in Canada owned and operated by Altrom Canada Corporation (“Altrom Canada”), a wholly-owned subsidiary of the Company; distribution centers in the United States owned by Balkamp, Inc. (“Balkamp”), a wholly-owned subsidiary of the Company; rebuilding and distribution plants in the United States owned by the Company and operated by its Rayloc division; and automotive parts distribution centers and automotive parts stores in Mexico, owned and operated by Grupo Auto Todo, S.A. de C.V. (“Auto Todo”), a wholly-owned subsidiary of the Company. |
With respect to our automotive group, the primary factors are: • the number of miles vehicles are driven annually, as higher vehicle mileage increases the need for maintenance and repair; • the quality of the vehicles manufactured by the original vehicle manufacturers and the length of the warranty or maintenance offered on new vehicles; • the number of vehicles in current service that are six years old and older, as these vehicles are typically no longer under the original vehicle manufacturers’ warranty and will need more maintenance and repair than newer vehicles; • gas prices, as increases in gas prices may deter consumers from using their vehicles; • changes in travel patterns which may cause consumers to rely more on other transportation; • restrictions on access to diagnostic tools and repair information imposed by the original vehicle manufacturers or by governmental regulation, as consumers may be forced to have all diagnostic work, repairs and maintenance performed by the vehicle manufacturers’ dealer networks; and • the economy generally, which in declining conditions may cause consumers to defer vehicle maintenance and repair and defer discretionary spending. |
Report of independent registered public accounting firm on internal control over financial reporting Report of independent registered public accounting firm on the financial statements Consolidated balance sheets - December 31, 2009 and 2008 Consolidated statements of income - Years ended December 31, 2009, 2008 and 2007 Consolidated statements of equity - Years ended December 31, 2009, 2008 and 2007 Consolidated statements of cash flows - Years ended December 31, 2009, 2008 and 2007 Notes to consolidated financial statements - December 31, 2009 (2) Financial Statement Schedules The following consolidated financial statement schedule of Genuine Parts Company and subsidiaries, set forth immediately following the consolidated financials statements of Genuine Parts Company and Subsidiaries, is filed pursuant to Item 15(c): Schedule II - Valuation and Qualifying Accounts All other schedules for which provision is made in the applicable accounting regulations of the Securities and Exchange Commission are not required under the related instructions or are inapplicable, and therefore have been omitted. |
During 2008, the Company’s Automotive Parts Group included NAPA automotive parts distribution centers and automotive parts stores (“auto parts stores” or “NAPA AUTO PARTS stores”) owned and operated in the United States by the Company; NAPA and TRACTION automotive parts distribution centers and auto parts stores in the United States and Canada owned and operated by the Company and NAPA Canada/UAP Inc. (“NAPA Canada/UAP”), a wholly-owned subsidiary of the Company; auto parts stores and distribution centers in the United States operated by corporations in which the Company owned either a minority or majority interest; auto parts stores in Canada operated by corporations in which UAP owns a 50% interest; distribution centers in the United States owned by Balkamp, Inc. (“Balkamp”), a majority-owned subsidiary of the Company; rebuilding and distribution plants in the United States owned by the Company and operated by its Rayloc division; and automotive parts distribution centers and automotive parts stores in Mexico, owned and operated by Grupo Auto Todo, S.A. de C.V. (“Auto Todo”), a wholly-owned subsidiary of the Company. |
With respect to our automotive group, the primary factors are: • the number of miles vehicles are driven annually, as higher vehicle mileage increases the need for maintenance and repair; • the quality of the vehicles manufactured by the original vehicle manufacturers and the length of the warranty or maintenance offered on new vehicles; • the number of vehicles in current service that are six years old and older, as these vehicles are typically no longer under the original vehicle manufacturers’ warranty and will need more maintenance and repair than newer vehicles; • gas prices, as increases in gas prices may deter consumers from using their vehicles; • changes in travel patterns which may cause consumers to rely more on other transportation; • restrictions on access to diagnostic tools and repair information imposed by the original vehicle manufacturers or by governmental regulation, as consumers may be forced to have all diagnostic work, repairs and maintenance performed by the vehicle manufacturers’ dealer networks; and • the economy generally. |
Report of independent registered public accounting firm on internal control over financial reporting Report of independent registered public accounting firm on the financial statements Consolidated balance sheets - December 31, 2008 and 2007 Consolidated statements of income - Years ended December 31, 2008, 2007 and 2006 Consolidated statements of shareholders’ equity - Years ended December 31, 2008, 2007 and 2006 Consolidated statements of cash flows - Years ended December 31, 2008, 2007 and 2006 Notes to consolidated financial statements - December 31, 2008 (2) Financial Statement Schedules The following consolidated financial statement schedule of Genuine Parts Company and subsidiaries, set forth immediately following the signature page of this report, is filed pursuant to Item 15(c): Schedule II - Valuation and Qualifying Accounts All other schedules for which provision is made in the applicable accounting regulations of the Securities and Exchange Commission are not required under the related instructions or are inapplicable, and therefore have been omitted. |
ANNUAL REPORT ON FORM 10-K INDEX OF EXHIBITS The following exhibits are filed (or furnished, if so indicated) herewith as a part of this Report: - Selected Financial Data on Page 13 - Market and Dividend Information on Page 13 - Segment Data on Page 15 - Management’s Discussion and Analysis of Financial Condition and Results of Operations on Pages 16-23 - Quarterly Results of Operations on Page 23 - Management’s Report on Internal Control over Financial Reporting on Page 24 - Report of Independent Registered Public Accounting Firm on Internal Control over Financial Reporting on Page 25 - Report of Independent Registered Public Accounting Firm on the Financial Statements on Page 25 - Consolidated Financial Statements and Notes to Consolidated Financial Statements on Pages 26-41 The following exhibits are incorporated by reference as set forth in Item 15 of this Form 10-K: Instruments with respect to long-term debt where the total amount of securities authorized thereunder does not exceed 10% of the total assets of the Registrant and its subsidiaries on a consolidated basis have not been filed. |
During 2007, the Company’s Automotive Parts Group included NAPA automotive parts distribution centers and automotive parts stores (“auto parts stores” or “NAPA AUTO PARTS stores”) owned and operated in the United States by the Company; NAPA and TRACTION automotive parts distribution centers and auto parts stores in the United States and Canada owned and operated by the Company and NAPA Canada/UAP Inc. (“NAPA Canada/UAP”), a wholly-owned subsidiary of the Company; auto parts stores and distribution centers in the United States operated by corporations in which the Company owned either a minority or majority interest; auto parts stores in Canada operated by corporations in which UAP owns a 50% interest; distribution centers in the United States owned by Balkamp, Inc. (“Balkamp”), a majority-owned subsidiary of the Company; rebuilding plants in the United States owned by the Company and operated by its Rayloc division; and automotive parts distribution centers and automotive parts stores in Mexico, owned and operated by Grupo Auto Todo, S.A. de C.V. (“Auto Todo”), a wholly-owned subsidiary of the Company. |
During 2006, the Company’s Automotive Parts Group included NAPA automotive parts distribution centers and automotive parts stores (“auto parts stores” or “NAPA AUTO PARTS stores”) owned in the United States by the Company; NAPA and TRACTION automotive parts distribution centers and auto parts stores in Canada owned and operated by NAPA Canada/UAP Inc. (“NAPA Canada/UAP”), a wholly-owned subsidiary of the Company; auto parts stores in the United States operated by corporations in which the Company owned either a minority or majority interest; auto parts stores in Canada operated by corporations in which UAP owns a 50% interest; distribution centers in the United States owned by Balkamp, Inc. (“Balkamp”), a majority-owned subsidiary of the Company; rebuilding plants in the United States owned by the Company and operated by its Rayloc division; distribution centers of ACDelco, Motorcraft and other automotive supplies owned and operated in the United States by Johnson Industries, a wholly-owned subsidiary; and automotive parts distribution centers and automotive parts stores in Mexico, owned and operated by Grupo Auto Todo, S.A. de C.V. (“Auto Todo”), a wholly-owned subsidiary of the Company. |
During 2005, the Company’s Automotive Parts Group included NAPA automotive parts distribution centers and automotive parts stores (“auto parts stores” or “NAPA AUTO PARTS stores”) owned in the United States by the Company; NAPA and TRACTION automotive parts distribution centers and auto parts stores in Canada owned and operated by UAP Inc. (“UAP”), a wholly-owned subsidiary of the Company; auto parts stores in the United States operated by corporations in which the Company owned either a minority or majority interest; auto parts stores in Canada operated by corporations in which UAP owns a 50% interest; distribution centers owned by Balkamp, Inc. (“Balkamp”), a majority-owned subsidiary of the Company; rebuilding plants owned by the Company and operated by its Rayloc division; distribution centers of ACDelco, Motorcraft and other automotive supplies owned and operated by Johnson Industries, a wholly-owned subsidiary; and automotive parts distribution centers and automotive parts stores in Mexico, owned and operated by Grupo Auto Todo, S.A. de C.V. (“Auto Todo”), a wholly-owned subsidiary of the Company. |
During 2004, the Company’s Automotive Parts Group included NAPA automotive parts distribution centers and automotive parts stores (“auto parts stores” or “NAPA AUTO PARTS stores”) owned in the United States by the Company; automotive parts distribution centers and auto parts stores in Canada owned and operated by NAPA Canada/UAP, a wholly-owned subsidiary of the Company; auto parts stores in the United States operated by corporations in which the Company owned either a minority or majority interest; auto parts stores in Canada operated by corporations in which NAPA Canada/UAP owns a 50% interest; distribution centers owned by Balkamp, Inc. (“Balkamp”), a majority-owned subsidiary of the Company; rebuilding plants owned by the Company and operated by its Rayloc division; distribution centers of ACDelco, Motorcraft and other automotive supplies owned and operated by Johnson Industries, a wholly-owned subsidiary; and automotive parts distribution centers and automotive parts stores in Mexico, owned and operated by Grupo Auto Todo, S.A. de C.V. (“Auto Todo”), a wholly-owned subsidiary of the Company. |
Annual Report on Form 10-K Item 15(a)(1) and (2), (c) and (d) Index of Financial Statements and Financial Statement Schedules Certain Exhibits Year Ended December 31, 2004 Genuine Parts Company Atlanta, Georgia Form 10-K - Item 15(a)(1) and (2) Genuine Parts Company and Subsidiaries Index of Financial Statements and Financial Statement Schedules The following consolidated financial statements of Genuine Parts Company and subsidiaries, included in the annual report of the registrant to its shareholders for the year ended December 31, 2004, are incorporated by reference in Item 8: Consolidated balance sheets - December 31, 2004 and 2003 Consolidated statements of income - Years ended December 31, 2004, 2003 and 2002 Consolidated statements of shareholders’ equity - Years ended December 31, 2004, 2003 and Consolidated statements of cash flows - Years ended December 31, 2004, 2003 and 2002 Notes to consolidated financial statements - December 31, 2004 The following consolidated financial statement schedule of Genuine Parts Company and subsidiaries is filed pursuant to Item 15(d): Schedule II - Valuation and Qualifying Accounts All other schedules for which provision is made in the applicable accounting regulation of the Securities and Exchange Commission are not required under the related instructions or are inapplicable, and therefore have been omitted. |
10.24* Genuine Parts Company 2004 Annual Incentive Bonus Plan, effective January 1, 2004 10.25* Description of Director Compensation 10.26* Genuine Parts Company Performance Restricted Stock Unit Award Agreement 10.27* Genuine Parts Company Stock Appreciation Rights Agreement 10.28* Genuine Parts Company Restricted Stock Unit Award Agreement The following Sections and Pages of Annual Report to Shareholders for 2004: - Selected Financial Data on Page 13 - Market and Dividend Information on Page 13 - Management’s Discussion and Analysis of Financial Condition on Pages 15-20 - Quarterly Results of Operations on Page 20 - Segment Data on Page 14 - Management’s Report on Internal Control on Financial Reporting on Page 21 - Report of Independent Registered Public Accounting Firm on Internal Control over Financial Reporting on Page 22 - Report of Independent Registered Public Accounting Firm on the Financial Statements on Page 22 - Consolidated Financial Statements and Notes to Consolidated Financial Statements on Pages 23-38 Subsidiaries of the Company Consent of Independent Registered Public Accounting Firm 31.1 Certification signed by the Chief Executive Officer pursuant to SEC Rule 13a-14(a). |
Date: March 21, 2003 /s/ Jerry W. Nix Jerry W. Nix Executive Vice President - Finance and Chief Financial Officer Annual Report on Form 10-K Item 15(a)(1) and (2), (c) and (d) List of Financial Statements Certain Exhibits Year Ended December 31, 2002 Genuine Parts Company Atlanta, Georgia Form 10-K - Item 15(a)(1) and (2) Genuine Parts Company and Subsidiaries Index of Financial Statements The following consolidated financial statements of Genuine Parts Company and subsidiaries, included in the annual report of the registrant to its shareholders for the year ended December 31, 2002, are incorporated by reference in Item 8: The following consolidated financial statement schedule of Genuine Parts Company and subsidiaries is included in Item 15(d): Schedule II - Valuation and Qualifying Accounts All other schedules for which provision is made in the applicable accounting regulation of the Securities and Exchange Commission are not required under the related instructions or are inapplicable, and therefore have been omitted. |
ANNUAL REPORT ON FORM 10-K ITEM 14(A)(1) AND (2), (C) AND (D) LIST OF FINANCIAL STATEMENTS CERTAIN EXHIBITS YEAR ENDED DECEMBER 31, 2000 GENUINE PARTS COMPANY ATLANTA, GEORGIA Form 10-K - Item 14(a)(1) and (2) Genuine Parts Company and Subsidiaries Index of Financial Statements The following consolidated financial statements of Genuine Parts Company and subsidiaries, included in the annual report of the registrant to its shareholders for the year ended December 31, 2000, are incorporated by reference in Item 8: Consolidated balance sheets - December 31, 2000 and 1999 Consolidated statements of income - Years ended December 31, 2000, 1999, and 1998 Consolidated statements of cash flows - Years ended December 31, 2000, 1999 and 1998 Notes to consolidated financial statements - December 31, 2000 The following consolidated financial statement schedule of Genuine Parts Company and subsidiaries is included in Item 14(d): Schedule II - Valuation and Qualifying Accounts All other schedules for which provision is made in the applicable accounting regulation of the Securities and Exchange Commission are not required under the related instructions or are inapplicable, and therefore have been omitted. |
ANNUAL REPORT ON FORM 10-K ITEM 14(A)(1) AND (2), (C) AND (D) LIST OF FINANCIAL STATEMENTS CERTAIN EXHIBITS YEAR ENDED DECEMBER 31, 1999 GENUINE PARTS COMPANY ATLANTA, GEORGIA Form 10-K - Item 14(a)(1) and (2) Genuine Parts Company and Subsidiaries Index of Financial Statements The following consolidated financial statements of Genuine Parts Company and subsidiaries, included in the annual report of the registrant to its shareholders for the year ended December 31, 1999, are incorporated by reference in Item 8: Consolidated balance sheets - December 31, 1999 and 1998 Consolidated statements of income - Years ended December 31, 1999, 1998, and 1997 Consolidated statements of cash flows - Years ended December 31, 1999, 1998 and 1997 Notes to consolidated financial statements - December 31, 1999 The following consolidated financial statement schedule of Genuine Parts Company and subsidiaries is included in Item 14(d): Schedule II - Valuation and Qualifying Accounts All other schedules for which provision is made in the applicable accounting regulation of the Securities and Exchange Commission are not required under the related instructions or are inapplicable, and therefore have been omitted. |
ANNUAL REPORT ON FORM 10-K ITEM 14(A)(1) AND (2), (C) AND (D) LIST OF FINANCIAL STATEMENTS CERTAIN EXHIBITS YEAR ENDED DECEMBER 31, 1998 GENUINE PARTS COMPANY ATLANTA, GEORGIA Form 10-K - Item 14(a)(1) and (2) Genuine Parts Company and Subsidiaries Index of Financial Statements The following consolidated financial statements of Genuine Parts Company and subsidiaries, included in the annual report of the registrant to its shareholders for the year ended December 31, 1998, are incorporated by reference in Item 8: Consolidated balance sheets - December 31, 1998 and 1997 Consolidated statements of income - Years ended December 31, 1998, 1997, and 1996 Consolidated statements of cash flows - Years ended December 31, 1998, 1997 and 1996 Notes to consolidated financial statements - December 31, 1998 The following consolidated financial statement schedule of Genuine Parts Company and subsidiaries is included in Item 14(d): Schedule II - Valuation and Qualifying Accounts All other schedules for which provision is made in the applicable accounting regulation of the Securities and Exchange Commission are not required under the related instructions or are inapplicable, and therefore have been omitted. |
Annual Report on Form 10-K Item 14(a)(1) and (2), (c) and (d) List of Financial Statements Certain Exhibits Year ended December 31, 1995 Genuine Parts Company Atlanta, Georgia Form 10-K - Item 14(a)(1) and (2) Genuine Parts Company and Subsidiaries Index of Financial Statements The following consolidated financial statements of Genuine Parts Company and subsidiaries, included in the annual report of the registrant to its shareholders for the year ended December 31, 1995, are incorporated by reference in Item 8: Consolidated balance sheets - December 31, 1995 and 1994 Consolidated statements of income - Years ended December 31, 1995, 1994, and 1993 Consolidated statements of shareholders' equity - Years ended December 31, 1995, 1994, and 1993 Consolidated statements of cash flows - Years ended December 31, 1995, 1994, and 1993 Notes to consolidated financial statements - December 31, 1995 All schedules for which provision is made in the applicable accounting regulation of the Securities and Exchange Commission are not required under the related instructions or are inapplicable, and therefore have been omitted. |
Annual Report on Form 10-K Item 14(a)(1) and (2), (c) and (d) List of Financial Statements Certain Exhibits Year ended December 31, 1994 Genuine Parts Company Atlanta, Georgia Form 10-K - Item 14(a)(1) and (2) Genuine Parts Company and Subsidiaries Index of Financial Statements The following consolidated financial statements of Genuine Parts Company and subsidiaries, included in the annual report of the registrant to its shareholders for the year ended December 31, 1994, are incorporated by reference in Item 8: Consolidated balance sheets - December 31, 1994 and 1993 Consolidated statements of income - Years ended December 31, 1994, 1993 and 1992 Consolidated statements of shareholders' equity - Years ended December 31, 1994, 1993 and 1992 Consolidated statements of cash flows - Years ended December 31, 1994, 1993 and 1992 Notes to consolidated financial statements - December 31, 1994 All schedules for which provision is made in the applicable accounting regulation of the Securities and Exchange Commission are not required under the related instructions or are inapplicable, and therefore have been omitted. |
/s/James R. Courim 2/21/94 /s/William A. Parker 2/21/94 - ------------------------------------- ------------------------------------ James R. Courim (Date) William A. Parker (Date) Director Director /s/Bradley Currey, Jr. 2/21/94 /s/Larry L. Prince 2/21/94 - ------------------------------------- ------------------------------------ Bradley Currey, Jr. (Date) Larry L. Prince (Date) Director Director Chairman of the Board and Chief Executive Officer /s/Jean Douville 2/21/94 /s/John J. Scalley 2/21/94 - ------------------------------------- ------------------------------------ Jean Douville (Date) John J. Scalley (Date) Director Director Chairman of the Board and Executive Vice President Chief Executive Officer UAP INC. /s/John B. Ellis 2/21/94 /s/Alana S. Shepherd 2/21/94 - ------------------------------------- ------------------------------------ John B. Ellis (Date) Alana S. Shepherd (Date) Director Director /s/Thomas C. Gallagher 2/21/94 /s/Lawrence G. Steiner 2/21/94 - ------------------------------------- ------------------------------------ Thomas C. Gallagher (Date) Lawrence G. Steiner (Date) Director Director President and Chief Operating Officer /s/E. |
Reginald Hancock 2/21/94 /s/James B. Williams 2/21/94 - ------------------------------------- ------------------------------------ E. Reginald Hancock (Date) James B. Williams (Date) Director Director /s/Gardner E. Larned 2/21/94 - ------------------------------------- Gardner E. Larned (Date) Chairman of the Board and Chief Executive Officer of Berry Bearing Company and Its Affiliates ANNUAL REPORT ON FORM-10-K ITEM 14(a)(1) AND (2), (c) AND (d) LIST OF FINANCIAL STATEMENTS AND FINANCIAL STATEMENT SCHEDULE CERTAIN EXHIBITS FINANCIAL STATEMENT SCHEDULE YEAR ENDED DECEMBER 31, 1993 GENUINE PARTS COMPANY ATLANTA, GEORGIA FORM 10-K - ITEM 14(A)(1) AND (2) GENUINE PARTS COMPANY AND SUBSIDIARIES INDEX OF FINANCIAL STATEMENTS The following consolidated financial statements of Genuine Parts Company and subsidiaries, included in the annual report of the registrant to its shareholders for the year ended December 31, 1993, are incorporated by reference in Item 8: Consolidated balance sheets -- December 31, 1993 and 1992 Consolidated statements of income -- Years ended December 31, 1993, 1992 and 1991 Consolidated statements of shareholders' equity -- Years ended December 31, 1993, 1992 and 1991 Consolidated statements of cash flows -- Years ended December 31, 1993, 1992 and 1991 Notes to consolidated financial statements -- December 31, 1993 The following consolidated financial statement schedule of Genuine Parts Company and subsidiaries is included in Item 14(d): Schedule IX - Short-term borrowings All other schedules for which provision is made in the applicable accounting regulation of the Securities and Exchange Commission are not required under the related instructions or are inapplicable, and therefore have been omitted. |
These international operations, including operations in emerging markets, have unique consumer preferences and business climates, present additional challenges and are subject to risks that may significantly harm our sales, increase our costs or otherwise damage our business, including: •Currency conversion risks and currency fluctuations; •The imposition of tariffs, quotas, border adjustment taxes or other protectionist measures; •Potential challenges to our transfer pricing determinations and other aspects of our cross border transactions, which can materially increase our taxes and other costs of doing business; •Political instability, civil unrest and economic instability; •Greater difficulty enforcing intellectual property rights and weaker laws protecting such rights; •Implications or difficulties arising out of the United Kingdom’s exit from the European Union; •Complications in complying with different laws in varying jurisdictions and in dealing with changes in governmental policies and the evolution of laws and regulations and related enforcement; •Difficulties understanding the retail climate, consumer trends, local customs and competitive conditions in foreign markets which may be quite different from the U.S.; •Natural disasters and the greater difficulty and cost in recovering therefrom; •Difficulties in moving materials and products from one country to another, including port congestion, strikes and other transportation delays and interruptions; •Increased investment and operational complexity to make our products compatible with systems in various countries and compliant with local laws; and •Changes in international labor costs and other costs of doing business internationally. |
JOE ORIGINS; •the negative impact on consumer purchasing behavior and availability of product to consumers, including due to retail store closures, limited reopenings, shelter at home instructions and limitations on the capacity of ecommerce; •disruptions or restrictions on the ability of some of our employees, suppliers and manufacturers to work effectively, including due to illness, quarantines, government actions, and facility closures or other similar restrictions; •temporary or permanent closures of, limited reopenings, or other restrictions on businesses, such as retail stores, in which our products and/or the products of our licensees are sold, as well as studios and theaters in which or for which we produce and distribute entertainment content; and •other negative effects of the coronavirus on our business, including increased risks of accounts receivable collection, bankruptcies of retailers, delays in payment and negotiations with customers or licensees over payment terms or the ability to perform under contracts or licenses. |
In particular, our increased indebtedness could: •make it more difficult and/or costly for us to pay or refinance our debts as they become due, particularly during adverse economic and industry conditions, because a decrease in revenues or increase in costs could cause cash flow from operations to be insufficient to make scheduled debt service payments; •require a substantial portion of our available cash to be used for debt service payments, thereby reducing the availability of our cash to fund working capital, capital expenditures, development projects, acquisitions or other strategic opportunities, dividend payments, share repurchases and other general corporate purposes; •result in downgrades in the credit ratings on our indebtedness, which could limit our ability to borrow additional funds on favorable terms or at all (including in order to refinance our other debt), increase the interest rates under our credit facilities and under any new indebtedness we may incur; •make it more difficult for us to raise capital to fund working capital, make capital expenditures, pay dividends, pursue strategic initiatives or for other purposes; •result in higher interest expense, which could be further increased in case of current or future borrowings subject to variable rates of interest; •require that materially adverse terms, conditions or covenants be placed on us under our debt instruments, which could include, for example, limitations on additional borrowings or limitations on our ability to create liens, pay dividends, repurchase our common stock or make investments, any of which could hinder our access to capital markets or our flexibility in the conduct of our business and make us more vulnerable to economic downturns and adverse competitive industry conditions; and •jeopardize our ability to pay our indebtedness if our business experienced a severe downturn. |
The unaudited pro forma results include certain pro forma adjustments to net earnings that were directly attributable to the acquisition, as if the acquisition had occurred on December 31, 2018, including the following: •elimination of transaction costs of $24,267 for the year ended December 29, 2019, incurred by Hasbro and eOne related to the eOne Acquisition, included in Selling, Distribution and Administration; •additional amortization expense of $38,823 for the year ended December 29, 2019, that would have been recognized as a result of the allocation of purchase consideration to definite-lived intangible assets subject to amortization; •estimated differences in interest expense of $75,351 for the year ended December 29, 2019, as a result of incurring new debt and extinguishing historical eOne debt; HASBRO, INC. AND SUBSIDIARIES Notes to Consolidated Financial Statements - (Continued) (Thousands of Dollars and Shares Except Per Share Data) •total adjustments to Other (Income) Expense of $74,752 for the year ended December 29, 2019, consisting of: ◦elimination of a gain of $94,564 for the year ended December 29, 2019, related to the mark to market of foreign exchange forward and option contracts, which the Company entered into in order to hedge a portion of the British pound sterling purchase price for the eOne Acquisition; and ◦elimination of a charge of $19,812 for the year ended December 29, 2019, related to premiums paid by eOne in connection with the 2019 early redemption and refinancing of its senior secured notes and the related write-off of unamortized deferred finance charges associated with the senior secured notes; •the income tax effect of the pro forma adjustments resulted in income tax benefits of $12,250 for the year ended December 29, 2019, calculated using a blended statutory income tax rate of 22.5% for the eOne adjustments, and a blended statutory tax rate of 21% for the Hasbro adjustments. |
Loans under the Term Loan Facilities bear interest at the Company’s option, at either the Eurocurrency Rate or the Base Rate, in each case plus a per annum applicable rate that fluctuates (1) in the case of the Three-Year Tranche, between 87.5 basis points and 175.0 basis points, in the case of loans priced at the Eurocurrency Rate, and between 0.0 basis points and 75.0 basis points, in the case of HASBRO, INC. AND SUBSIDIARIES Notes to Consolidated Financial Statements - (Continued) (Thousands of Dollars and Shares Except Per Share Data) loans priced at the Base Rate, and (2) in the case of the Five-Year Tranche, between 100.0 basis points and 187.5 basis points, in the case of loans priced at the Eurocurrency Rate, and between 0.0 basis points and 87.5 basis points, in the case of loans priced at the Base Rate, in each case, based upon the non-credit enhanced, senior unsecured long-term debt ratings of the Company by Fitch Ratings Inc., Moody’s Investor Service, Inc. and S&P Global Rankings, subject to certain provisions taking into account potential differences in ratings issued to the relevant rating agencies or a lack of ratings issued by such rating agencies. |
(a) Consolidated Financial Statements, Consolidated Financial Statement Schedules and Exhibits (1) Consolidated Financial Statements Included in PART II of this report: Report of Independent Registered Public Accounting Firm Consolidated Balance Sheets at December 27, 2020 and December 29, 2019 Consolidated Statements of Operations for the Three Fiscal Years Ended in December 2020, 2019 and 2018 Consolidated Statements of Comprehensive Earnings for the Three Fiscal Years Ended in December 2020, 2019 and 2018 Consolidated Statements of Cash Flows for the Three Fiscal Years Ended in December 2020, 2019 and 2018 Consolidated Statements of Shareholders’ Equity and Redeemable Noncontrolling Interests for the Three Fiscal Years Ended in December 2020, 2019 and 2018 Notes to Consolidated Financial Statements (2) Consolidated Financial Statement Schedules Included in PART IV of this report: For the Three Fiscal Years Ended in December 2020, 2019 and 2018: Schedule II-Valuation and Qualifying Accounts Schedules other than those listed above are omitted for the reason that they are not required or are not applicable, or the required information is shown in the consolidated financial statements or notes thereto. |
These international operations, including operations in emerging markets, have unique consumer preferences and business climates, present additional challenges and are subject to risks that may significantly harm our sales, increase our costs or otherwise damage our business, including: • Currency conversion risks and currency fluctuations; • The imposition of tariffs, quotas, border adjustment taxes or other protectionist measures; • Potential challenges to our transfer pricing determinations and other aspects of our cross border transactions, which can materially increase our taxes and other costs of doing business; • Political instability, civil unrest and economic instability; • Greater difficulty enforcing intellectual property rights and weaker laws protecting such rights; • Complications in complying with different laws in varying jurisdictions and in dealing with changes in governmental policies and the evolution of laws and regulations and related enforcement; • Difficulties understanding the retail climate, consumer trends, local customs and competitive conditions in foreign markets which may be quite different from the U.S.; • Natural disasters and the greater difficulty and cost in recovering therefrom; • Transportation delays and interruptions; • Difficulties in moving materials and products from one country to another, including port congestion, strikes and other transportation delays and interruptions; • Increased investment and operational complexity to make our products compatible with systems in various countries and compliant with local laws; and • Changes in international labor costs and other costs of doing business internationally. |
In particular, our increased indebtedness could: • make it more difficult and/or costly for us to pay or refinance our debts as they become due, particularly during adverse economic and industry conditions, because a decrease in revenues or increase in costs could cause cash flow from operations to be insufficient to make scheduled debt service payments; • require a substantial portion of our available cash to be used for debt service payments, thereby reducing the availability of our cash to fund working capital, capital expenditures, development projects, acquisitions or other strategic opportunities, dividend payments, share repurchases and other general corporate purposes, which could harm our prospects for growth and the market price of the notes and other debt securities, among other things; • result in downgrades in the credit ratings on our indebtedness, which could limit our ability to borrow additional funds on favorable terms or at all (including in order to refinance our other debt), increase the interest rates under our credit facilities (including the Hasbro term loan facility) and under any new indebtedness we may incur, and reduce the trading prices of our outstanding debt securities and common stock; • make it more difficult for us to raise capital to fund working capital, make capital expenditures, pay dividends, pursue strategic initiatives or for other purposes; • result in higher interest expense, which could be further increased in case of current or future borrowings subject to variable rates of interest; • require that materially adverse terms, conditions or covenants be placed on us under our debt instruments, which could include, for example, limitations on additional borrowings or limitations on our ability to create liens, pay dividends, repurchase our common stock or make investments, any of which could hinder our access to capital markets or our flexibility in the conduct of our business and make us more vulnerable to economic downturns and adverse competitive industry conditions; and • jeopardize our ability to pay our indebtedness if we were to experience a severe downturn in our business. |
Difficulties we may encounter as part of the integration process or otherwise after the consummation of the acquisition include the following: • the ability to successfully apply capabilities and expertise in certain areas of the business to other areas of the combined business; • integration of management teams into a cohesive combined company; • differences in business backgrounds and models, corporate cultures and management philosophies; • the ability to continue to attract and retain key management and personnel; • the ability to create and implement a unified strategy, controls, procedures, policies and information systems; • the challenge of integrating complex systems, technology, networks and other assets of eOne into those of ours in a manner that minimizes any adverse impact on customers, consumers, suppliers, employees and other constituencies; • potential unknown liabilities and unforeseen expenses or delays associated with the acquisition, including costs to integrate eOne; and • the disruption of, or the loss of momentum in, our ongoing businesses, including the diversion of management’s attention away from ongoing business and towards integration matters. |
Loans under the Term Loan Facilities will bear interest at the Company’s option, at either the Eurocurrency Rate or the Base Rate, in each case plus a per annum applicable rate that fluctuates (1) in the case of the Three-Year Tranche, between 87.5 basis points and 175.0 basis points, in the case of loans priced at the Eurocurrency Rate, and between 0.0 basis points and 75.0 basis points, in the case of loans priced at the Base Rate, and (2) in the case of the Five-Year Tranche, between 100.0 basis points and 187.5 basis points, in the case of loans priced at the Eurocurrency Rate, and between 0.0 basis points and 87.5 basis points, in the case of loans priced at the Base Rate, in each case, based upon the non-credit enhanced, senior unsecured long-term debt ratings of the Company by Fitch Ratings Inc., Moody’s Investor Service, Inc. and S&P Global Rankings, subject to certain provisions taking into account potential differences in ratings issued to the relevant rating agencies or a lack of ratings issued by such rating agencies. |
(a) Consolidated Financial Statements, Consolidated Financial Statement Schedules and Exhibits (1) Consolidated Financial Statements Included in PART II of this report: Report of Independent Registered Public Accounting Firm Consolidated Balance Sheets at December 29, 2019 and December 30, 2018 Consolidated Statements of Operations for the Three Fiscal Years Ended in December 2019, 2018 and 2017 Consolidated Statements of Comprehensive Earnings for the Three Fiscal Years Ended in December 2019, 2018 and 2017 Consolidated Statements of Cash Flows for the Three Fiscal Years Ended in December 2019, 2018 and 2017 Consolidated Statements of Shareholders’ Equity and Redeemable Noncontrolling Interests for the Three Fiscal Years Ended in December 2019, 2018 and 2017 Notes to Consolidated Financial Statements (2) Consolidated Financial Statement Schedules Included in PART IV of this report: For the Three Fiscal Years Ended in December 2019, 2018 and 2017: Schedule II-Valuation and Qualifying Accounts Schedules other than those listed above are omitted for the reason that they are not required or are not applicable, or the required information is shown in the consolidated financial statements or notes thereto. |
These “forward-looking statements” may relate to matters such as our business and marketing strategies, anticipated financial performance or business prospects in future periods, expected technological and product developments, relationships with customers and suppliers, purchasing patterns of our customers and consumers, the expected content of and timing for scheduled new product introductions or our expectations concerning the future acceptance of products by customers, expected benefits and plans relating to acquired brands and properties, the content and timing of planned entertainment releases including motion pictures, television and digital products, marketing and promotional efforts, research and development activities, geographic plans, adequacy of supply, manufacturing capacity and expectations to reduce manufacturing in China, adequacy of our properties, expected benefits and cost-savings from certain restructuring actions, capital expenditures, working capital, liquidity, and other financial, tax, accounting and similar matters. |
In addition to the need to successfully anticipate and serve different global consumer preferences and interests, sales and operations in emerging markets that we have entered, may enter, or may increase our presence in, are subject to other risks associated with international operations, including: • Complications in complying with different laws in varying jurisdictions and in dealing with changes in governmental policies and the evolution of laws and regulations that impact our product offerings and related enforcement; • Potential challenges to our transfer pricing determinations and other aspects of our cross border transactions; • Difficulties understanding the retail climate, consumer trends, local customs and competitive conditions in foreign markets which may be quite different from the United States; • Difficulties in moving materials and products from one country to another, including port congestion, strikes and other transportation delays and interruptions; and • The imposition of tariffs, border adjustment taxes, quotas, or other protectionist measures. |
These international sales and manufacturing operations, including operations in emerging markets, are subject to risks that may significantly harm our sales, increase our costs or otherwise damage our business, including: • Currency conversion risks and currency fluctuations; • Potential challenges to our transfer pricing determinations and other aspects of our cross border transactions, which can materially increase our taxes and other costs of doing business; • Political instability, civil unrest and economic instability; • Greater difficulty enforcing intellectual property rights and weaker laws protecting such rights; • Complications in complying with different laws in varying jurisdictions and in dealing with changes in governmental policies and the evolution of laws and regulations and related enforcement; • Difficulties understanding the retail climate, consumer trends, local customs and competitive conditions in foreign markets which may be quite different from the United States; • Natural disasters and the greater difficulty and cost in recovering therefrom; • Transportation delays and interruptions; • Difficulties in moving materials and products from one country to another, including port congestion, strikes and other transportation delays and interruptions; • Increased investment and operational complexity to make our products compatible with systems in various countries and compliant with local laws; • Changes in international labor costs and other costs of doing business internationally; and • The imposition of tariffs, quotas, border adjustment taxes or other protectionist measures. |
The ASU includes provisions intended to simplify various aspects related to how share-based payments are accounted for and presented in the financial statements including (1) a requirement to prospectively record all of the tax effects related to share-based payments at settlement (or expiration) through the income statement; (2) a requirement that all tax-related cash flows resulting from share-based payments be reported as operating activities on the statement of cash flows; (3) the removal of the requirement to withhold shares upon settlement of an award at the minimum statutory withholding requirement; (4) a requirement that all cash payments made to taxing authorities on the employees’ behalf for withheld shares shall be presented as financing activities in the statements of cash flows; and (5) entities will be permitted to make an accounting policy election for the impact of forfeitures on the recognition of expense for share-based payment awards choosing either to estimate forfeitures as required today or recognize forfeitures as they occur. |
(a) Consolidated Financial Statements, Consolidated Financial Statement Schedules and Exhibits (1) Consolidated Financial Statements Included in PART II of this report: Report of Independent Registered Public Accounting Firm Consolidated Balance Sheets at December 30, 2018 and December 31, 2017 Consolidated Statements of Operations for the Three Fiscal Years Ended in December 2018, 2017 and 2016 Consolidated Statements of Comprehensive Earnings for the Three Fiscal Years Ended in December 2018, 2017 and 2016 Consolidated Statements of Cash Flows for the Three Fiscal Years Ended in December 2018, 2017 and 2016 Consolidated Statements of Shareholders’ Equity and Redeemable Noncontrolling Interests for the Three Fiscal Years Ended in December 2018, 2017 and 2016 Notes to Consolidated Financial Statements (2) Consolidated Financial Statement Schedules Included in PART IV of this report: For the Three Fiscal Years Ended in December 2018, 2017 and 2016: Schedule II-Valuation and Qualifying Accounts Schedules other than those listed above are omitted for the reason that they are not required or are not applicable, or the required information is shown in the consolidated financial statements or notes thereto. |
In addition to the need to successfully anticipate and serve different global consumer preferences and interests, sales and operations in emerging markets that we have entered, may enter, or may increase our presence in, are subject to other risks associated with international operations, including: • Complications in complying with different laws in varying jurisdictions and in dealing with changes in governmental policies and the evolution of laws and regulations that impact our product offerings and related enforcement; • Potential challenges to our transfer pricing determinations and other aspects of our cross border transactions; • Difficulties understanding the retail climate, consumer trends, local customs and competitive conditions in foreign markets which may be quite different from the United States; • Difficulties in moving materials and products from one country to another, including port congestion, strikes and other transportation delays and interruptions; and • The imposition of tariffs, border adjustment taxes, quotas, or other protectionist measures. |
These international sales and manufacturing operations, including operations in emerging markets , are subject to risks that may significantly harm our sales, increase our costs or otherwise damage our business, including: • Currency conversion risks and currency fluctuations; • Potential challenges to our transfer pricing determinations and other aspects of our cross border transactions, which can materially increase our taxes and other costs of doing business; • Political instability, civil unrest and economic instability; • Greater difficulty enforcing intellectual property rights and weaker laws protecting such rights; • Complications in complying with different laws in varying jurisdictions and in dealing with changes in governmental policies and the evolution of laws and regulations and related enforcement; • Difficulties understanding the retail climate, consumer trends, local customs and competitive conditions in foreign markets which may be quite different from the United States; • Natural disasters and the greater difficulty and cost in recovering therefrom; • Transportation delays and interruptions; • Difficulties in moving materials and products from one country to another, including port congestion, strikes and other transportation delays and interruptions; • Increased investment and operational complexity to make our products compatible with systems in various countries and compliant with local laws; • Changes in international labor costs and other costs of doing business internationally; and • The imposition of tariffs, quotas, border adjustment taxes or other protectionist measures. |
The ASU includes provisions intended to simplify various aspects related to how share-based payments are accounted for and presented in the financial statements including (1) a requirement to prospectively record all of the tax effects related to share-based payments at settlement (or expiration) through the income statement; (2) a requirement that all tax-related cash flows resulting from share-based payments be reported as operating activities on the statement of cash flows; (3) the removal of the requirement to withhold shares upon settlement of an award at the minimum statutory withholding requirement; (4) a requirement that all cash payments made to taxing authorities on the employees’ behalf for withheld shares shall be presented as financing activities in the statements of cash flows; and (5) entities will be permitted to make an accounting policy election for the impact of forfeitures on the recognition of expense for share-based payment awards choosing either to estimate forfeitures as required today or recognize forfeitures as they occur. |
(a) Consolidated Financial Statements, Consolidated Financial Statement Schedules and Exhibits (1) Consolidated Financial Statements Included in PART II of this report: Report of Independent Registered Public Accounting Firm Consolidated Balance Sheets at December 31, 2017 and December 25, 2016 Consolidated Statements of Operations for the Three Fiscal Years Ended in December 2017, 2016 and 2015 Consolidated Statements of Comprehensive Earnings for the Three Fiscal Years Ended in December 2017, 2016 and 2015 Consolidated Statements of Cash Flows for the Three Fiscal Years Ended in December 2017, 2016 and 2015 Consolidated Statements of Shareholders’ Equity and Redeemable Noncontrolling Interests for the Three Fiscal Years Ended in December 2017, 2016 and 2015 Notes to Consolidated Financial Statements (2) Consolidated Financial Statement Schedules Included in PART IV of this report: For the Three Fiscal Years Ended in December 2017, 2016 and 2015: Schedule II - Valuation and Qualifying Accounts Schedules other than those listed above are omitted for the reason that they are not required or are not applicable, or the required information is shown in the consolidated financial statements or notes thereto. |
In addition to the need to successfully anticipate and serve different global consumer preferences and interests, sales and operations in emerging markets that we have entered, may enter, or may increase our presence in, are subject to other risks associated with international operations, including: • Complications in complying with different laws in varying jurisdictions and in dealing with changes in governmental policies and the evolution of laws and regulations that impact our product offerings and related enforcement; • Potential challenges to our transfer pricing determinations and other aspects of our cross border transactions; • Difficulties understanding the retail climate, consumer trends, local customs and competitive conditions in foreign markets which may be quite different from the United States; • Difficulties in moving materials and products from one country to another, including port congestion, strikes and other transportation delays and interruptions; and • The imposition of tariffs, border adjustment taxes, quotas, or other protectionist measures. |
These international sales and manufacturing operations, including operations in emerging markets, are subject to risks that may significantly harm our sales, increase our costs or otherwise damage our business, including: • Currency conversion risks and currency fluctuations; • Limitations on the repatriation of earnings; • Potential challenges to our transfer pricing determinations and other aspects of our cross border transactions, which can materially increase our taxes and other costs of doing business; • Political instability, civil unrest and economic instability; • Greater difficulty enforcing intellectual property rights and weaker laws protecting such rights; • Complications in complying with different laws in varying jurisdictions and in dealing with changes in governmental policies and the evolution of laws and regulations and related enforcement; • Difficulties understanding the retail climate, consumer trends, local customs and competitive conditions in foreign markets which may be quite different from the United States; • Natural disasters and the greater difficulty and cost in recovering therefrom; • Transportation delays and interruptions; • Difficulties in moving materials and products from one country to another, including port congestion, strikes and other transportation delays and interruptions; • Increased investment and operational complexity to make our products compatible with systems in various countries and compliant with local laws; • Changes in international labor costs and other costs of doing business internationally; and • The imposition of tariffs, quotas, border adjustment taxes (such as is currently being discussed in the United States) or other protectionist measures by any major country or market in which we operate, which could make it significantly more expensive and difficult to import products into that country or market, raise the cost of such products, decrease our sales of such products and/or decrease our profitability. |
The ASU includes provisions intended to simplify various aspects related to how share-based payments are accounted for and presented in the financial statements including (1) a requirement to record all of the tax effects related to share-based payments at settlement (or expiration) through the income statement; (2) a requirement that all tax-related cash flows resulting from share-based payments be reported as operating activities on the statement of cash flows; (3) the removal of the requirement to withhold shares upon settlement of an award at the minimum statutory withholding requirement; (4) a requirement that all cash payments made to taxing authorities on the employees’ behalf for withheld shares shall be presented as financing activities in the statements of cash flows; and (5) entities will be permitted to make an accounting policy election for the impact of forfeitures on the recognition of expense for share-based payment awards choosing either to estimate forfeitures as required today or recognize forfeitures as they occur. |
(a) Consolidated Financial Statements, Consolidated Financial Statement Schedules and Exhibits (1) Consolidated Financial Statements Included in PART II of this report: Report of Independent Registered Public Accounting Firm Consolidated Balance Sheets at December 25, 2016 and December 27, 2015 Consolidated Statements of Operations for the Three Fiscal Years Ended in December 2016, 2015 and 2014 Consolidated Statements of Comprehensive Earnings for the Three Fiscal Years Ended in December 2016, 2015 and 2014 Consolidated Statements of Cash Flows for the Three Fiscal Years Ended in December 2016, 2015 and 2014 Consolidated Statements of Shareholders’ Equity and Redeemable Noncontrolling Interests for the Three Fiscal Years Ended in December 2016, 2015 and 2014 Notes to Consolidated Financial Statements (2) Consolidated Financial Statement Schedules Included in PART IV of this report: Report of Independent Registered Public Accounting Firm on the Consolidated Financial Statement Schedule For the Three Fiscal Years Ended in December 2016, 2015 and 2014: Schedule II - Valuation and Qualifying Accounts Schedules other than those listed above are omitted for the reason that they are not required or are not applicable, or the required information is shown in the consolidated financial statements or notes thereto. |
In addition to the need to successfully anticipate and serve different global consumer preferences and interests, sales and operations in emerging markets that we have entered, may enter, or may increase our presence in, are subject to other risks associated with international operations, including: • Complications in complying with different laws in varying jurisdictions and in dealing with changes in governmental policies and the evolution of laws and regulations that impact our product offerings and related enforcement; • Potential challenges to our transfer pricing determinations and other aspects of our cross border transactions; • Difficulties understanding the retail climate, consumer trends, local customs and competitive conditions in foreign markets which may be quite different from the United States; • Difficulties in moving materials and products from one country to another, including port congestion, strikes and other transportation delays and interruptions; and • The imposition of tariffs, quotas, or other protectionist measures. |
These sales and manufacturing operations, including operations in emerging markets that we have entered, may enter, or may increase our presence in, are subject to the risks associated with international operations, including: • Currency conversion risks and currency fluctuations; • Limitations on the repatriation of earnings; • Potential challenges to our transfer pricing determinations and other aspects of our cross border transactions, which can materially increase our taxes and other costs of doing business; • Political instability, civil unrest and economic instability; • Greater difficulty enforcing intellectual property rights and weaker laws protecting such rights; • Complications in complying with different laws in varying jurisdictions and in dealing with changes in governmental policies and the evolution of laws and regulations and related enforcement; • Difficulties understanding the retail climate, consumer trends, local customs and competitive conditions in foreign markets which may be quite different from the United States; • Natural disasters and the greater difficulty and cost in recovering therefrom; • Transportation delays and interruptions; • Difficulties in moving materials and products from one country to another, including port congestion, strikes and other transportation delays and interruptions; • Increased investment and operational complexity to make our products compatible with systems in various countries and compliant with local laws; • Changes in international labor costs and other costs of doing business internationally; and • The imposition of tariffs, quotas, or other protectionist measures. |
(a) Consolidated Financial Statements, Consolidated Financial Statement Schedules and Exhibits (1) Consolidated Financial Statements Included in PART II of this report: Report of Independent Registered Public Accounting Firm Consolidated Balance Sheets at December 27, 2015 and December 28, 2014 Consolidated Statements of Operations for the Three Fiscal Years Ended in December 2015, 2014 and 2013 Consolidated Statements of Comprehensive Earnings for the Three Fiscal Years Ended in December 2015, 2014 and 2013 Consolidated Statements of Cash Flows for the Three Fiscal Years Ended in December 2015, 2014 and 2013 Consolidated Statements of Shareholders’ Equity and Redeemable Noncontrolling Interests for the Three Fiscal Years Ended in December 2015, 2014 and 2013 Notes to Consolidated Financial Statements (2) Consolidated Financial Statement Schedules Included in PART IV of this report: Report of Independent Registered Public Accounting Firm on the Consolidated Financial Statement Schedule For the Three Fiscal Years Ended in December 2015, 2014 and 2013: Schedule II - Valuation and Qualifying Accounts Schedules other than those listed above are omitted for the reason that they are not required or are not applicable, or the required information is shown in the consolidated financial statements or notes thereto. |
In addition to the need to successfully anticipate and serve different global consumer preferences and interests, sales and operations in emerging markets that we have entered, may enter, or may increase our presence in, are subject to other risks associated with international operations, including: • Complications in complying with different laws in varying jurisdictions and in dealing with changes in governmental policies and the evolution of laws and regulations that impact our product offerings and related enforcement; • Potential challenges to our transfer pricing determinations and other aspects of our cross border transactions; • Difficulties understanding the retail climate, consumer trends, local customs and competitive conditions in foreign markets which may be quite different from the United States; • Difficulties in moving materials and products from one country to another, including port congestion, strikes and other transportation delays and interruptions; and • The imposition of tariffs, quotas, or other protectionist measures. |
These sales and manufacturing operations, including operations in emerging markets that we have entered, may enter, or may increase our presence in, are subject to the risks associated with international operations, including: • Currency conversion risks and currency fluctuations; • Limitations on the repatriation of earnings; • Potential challenges to our transfer pricing determinations and other aspects of our cross border transactions, which can materially increase our taxes and other costs of doing business; • Political instability, civil unrest and economic instability; • Greater difficulty enforcing intellectual property rights and weaker laws protecting such rights; • Complications in complying with different laws in varying jurisdictions and in dealing with changes in governmental policies and the evolution of laws and regulations and related enforcement; • Difficulties understanding the retail climate, consumer trends, local customs and competitive conditions in foreign markets which may be quite different from the United States; • Natural disasters and the greater difficulty and cost in recovering therefrom; • Transportation delays and interruptions; • Difficulties in moving materials and products from one country to another, including port congestion, strikes and other transportation delays and interruptions; • Increased investment and operational complexity to make our products compatible with systems in various countries and compliant with local laws; • Changes in international labor costs and other costs of doing business internationally; and • The imposition of tariffs, quotas, or other protectionist measures. |
(a) Consolidated Financial Statements, Consolidated Financial Statement Schedules and Exhibits (1) Consolidated Financial Statements Included in PART II of this report: Report of Independent Registered Public Accounting Firm Consolidated Balance Sheets at December 28, 2014 and December 29, 2013 Consolidated Statements of Operations for the Three Fiscal Years Ended in December 2014, 2013 and 2012 Consolidated Statements of Comprehensive Earnings for the Three Fiscal Years Ended in December 2014, 2013 and 2012 Consolidated Statements of Cash Flows for the Three Fiscal Years Ended in December 2014, 2013 and 2012 Consolidated Statements of Shareholders’ Equity and Redeemable Noncontrolling Interests for the Three Fiscal Years Ended in December 2014, 2013 and 2012 Notes to Consolidated Financial Statements (2) Consolidated Financial Statement Schedules Included in PART IV of this report: Report of Independent Registered Public Accounting Firm on the Consolidated Financial Statement Schedule For the Three Fiscal Years Ended in December 2014, 2013 and 2012: Schedule II - Valuation and Qualifying Accounts Schedules other than those listed above are omitted for the reason that they are not required or are not applicable, or the required information is shown in the consolidated financial statements or notes thereto. |
In addition to the need to successfully anticipate and serve different global consumer preferences and interests, sales and operations in emerging markets that we have entered, may enter, or may increase our presence in, are subject to other risks associated with international operations, including: • Complications in complying with different laws in varying jurisdictions and in dealing with changes in governmental policies and the evolution of laws and regulations that impact our product offerings and related enforcement; • Potential challenges to our transfer pricing determinations and other aspects of our cross border transactions which may impact our income tax expense; • Difficulties understanding the retail climate, consumer trends, local customs and competitive conditions in foreign markets which may be quite different from the United States; • Difficulties in moving materials and products from one country to another, including port congestion, strikes and other transportation delays and interruptions; and • The imposition of tariffs, quotas, or other protectionist measures. |
These sales and manufacturing operations, including operations in emerging markets that we have entered, may enter, or may increase our presence in, are subject to the risks associated with international operations, including: • Currency conversion risks and currency fluctuations; • Limitations on the repatriation of earnings; • Potential challenges to our transfer pricing determinations and other aspects of our cross border transactions which may impact income tax expense; • Political instability, civil unrest and economic instability; • Greater difficulty enforcing intellectual property rights and weaker laws protecting such rights; • Complications in complying with different laws in varying jurisdictions and in dealing with changes in governmental policies and the evolution of laws and regulations and related enforcement; • Difficulties understanding the retail climate, consumer trends, local customs and competitive conditions in foreign markets which may be quite different from the United States; • Natural disasters and the greater difficulty and cost in recovering therefrom; • Transportation delays and interruptions; • Difficulties in moving materials and products from one country to another, including port congestion, strikes and other transportation delays and interruptions; • Increased investment and operational complexity to make our products compatible with systems in various countries and compliant with local laws; • Changes in international labor costs and other costs of doing business internationally; and • The imposition of tariffs, quotas, or other protectionist measures. |
(a) Consolidated Financial Statements, Consolidated Financial Statement Schedules and Exhibits (1) Consolidated Financial Statements Included in PART II of this report: Report of Independent Registered Public Accounting Firm Consolidated Balance Sheets at December 29, 2013 and December 30, 2012 Consolidated Statements of Operations for the Three Fiscal Years Ended in December 2013, 2012 and 2011 Consolidated Statements of Comprehensive Earnings for the Three Fiscal Years Ended in December 2013, 2012 and 2011 Consolidated Statements of Shareholders’ Equity and Redeemable Noncontrolling Interests for the Three Fiscal Years Ended in December 2013, 2012 and 2011 Consolidated Statements of Cash Flows for the Three Fiscal Years Ended in December 2013, 2012 and 2011 Notes to Consolidated Financial Statements (2) Consolidated Financial Statement Schedules Included in PART IV of this report: Report of Independent Registered Public Accounting Firm on the Consolidated Financial Statement Schedule For the Three Fiscal Years Ended in December 2013, 2012 and 2011: Schedule II - Valuation and Qualifying Accounts Schedules other than those listed above are omitted for the reason that they are not required or are not applicable, or the required information is shown in the consolidated financial statements or notes thereto. |
These sales and manufacturing operations, including operations in emerging markets that we have entered, may enter, or may increase our presence in, are subject to the risks associated with international operations, including: • Currency conversion risks and currency fluctuations; • Limitations on the repatriation of earnings; • Potential challenges to our transfer pricing determinations and other aspects of our cross border transactions; • Political instability, civil unrest and economic instability; • Greater difficulty enforcing intellectual property rights and weaker laws protecting such rights; • Complications in complying with different laws in varying jurisdictions and in dealing with changes in governmental policies; • Difficulties understanding the retail climate, consumer trends, local customs and competitive conditions in foreign markets which may be quite different from the United States; • Natural disasters and the greater difficulty and cost in recovering therefrom; • Difficulties in moving materials and products from one country to another, including port congestion, strikes and other transportation delays and interruptions; • Changes in international labor costs and other costs of doing business internationally; and • The imposition of tariffs, quotas, or other protectionist measures. |
(a) Financial Statements, Financial Statement Schedules and Exhibits (1) Financial Statements Included in PART II of this report: Report of Independent Registered Public Accounting Firm Consolidated Balance Sheets at December 30, 2012 and December 25, 2011 Consolidated Statements of Operations for the Three Fiscal Years Ended in December 2012, 2011 and 2010 Consolidated Statements of Comprehensive Earnings for the Three Fiscal Years Ended in December 2012, 2011 and 2010 Consolidated Statements of Cash Flows for the Three Fiscal Years Ended in December 2012, 2011 and 2010 Consolidated Statements of Shareholders’ Equity for the Three Fiscal Years Ended in December 2012, 2011 and 2010 Notes to Consolidated Financial Statements (2) Financial Statement Schedules Included in PART IV of this report: Report of Independent Registered Public Accounting Firm on Financial Statement Schedule For the Three Fiscal Years Ended in December 2012, 2011 and 2010: Schedule II - Valuation and Qualifying Accounts Schedules other than those listed above are omitted for the reason that they are not required or are not applicable, or the required information is shown in the financial statements or notes thereto. |
These sales and manufacturing operations, including operations in emerging markets that we have entered, may enter, or may increase our presence in, are subject to the risks associated with international operations, including: • Currency conversion risks and currency fluctuations; • Limitations, including taxes, on the repatriation of earnings; • Potential challenges to our transfer pricing determinations and other aspects of our cross border transactions; • Political instability, civil unrest and economic instability; • Greater difficulty enforcing intellectual property rights and weaker laws protecting such rights; • Complications in complying with different laws in varying jurisdictions and in dealing with changes in governmental policies; • Difficulties understanding the retail climate, consumer trends, local customs and competitive conditions in foreign markets which may be quite different from the United States; • Natural disasters and the greater difficulty and expense in recovering therefrom; • Difficulties in moving materials and products from one country to another, including port congestion, strikes and other transportation delays and interruptions; • Changes in international labor costs and other costs of doing business internationally; and • The imposition of tariffs, quotas, or other protectionist measures. |
(a) Financial Statements, Financial Statement Schedules and Exhibits (1) Financial Statements Included in PART II of this report: Report of Independent Registered Public Accounting Firm Consolidated Balance Sheets at December 25, 2011 and December 26, 2010 Consolidated Statements of Operations for the Three Fiscal Years Ended in December 2011, 2010, and 2009 Consolidated Statements of Shareholders’ Equity for the Three Fiscal Years Ended in December 2011, 2010, and 2009 Consolidated Statements of Cash Flows for the Three Fiscal Years Ended in December 2011, 2010, and 2009 Notes to Consolidated Financial Statements (2) Financial Statement Schedules Included in PART IV of this report: Report of Independent Registered Public Accounting Firm on Financial Statement Schedule For the Three Fiscal Years Ended in December 2011, 2010, and 2009: Schedule II - Valuation and Qualifying Accounts Schedules other than those listed above are omitted for the reason that they are not required or are not applicable, or the required information is shown in the financial statements or notes thereto. |
These sales and manufacturing operations, including operations in emerging markets that we have entered, may enter, or may increase our presence in, are subject to the risks associated with international operations, including: • Currency conversion risks and currency fluctuations; • Limitations, including taxes, on the repatriation of earnings; • Potential challenges to our transfer pricing determinations and other aspects of our cross border transactions; • Political instability, civil unrest and economic instability; • Greater difficulty enforcing intellectual property rights and weaker laws protecting such rights; • Complications in complying with different laws in varying jurisdictions and changes in governmental policies; • Natural disasters and the greater difficulty and expense in recovering therefrom; • Difficulties in moving materials and products from one country to another, including port congestion, strikes and other transportation delays and interruptions; • Changes in international labor costs and other costs of doing business internationally; and • The imposition of tariffs, quotas, or other protectionist measures. |
Exhibits and Financial Statement Schedules (a) Financial Statements, Financial Statement Schedules and Exhibits (1) Financial Statements Included in PART II of this report: Report of Independent Registered Public Accounting Firm Consolidated Balance Sheets at December 26, 2010 and December 27, 2009 Consolidated Statements of Operations for the Three Fiscal Years Ended in December 2010, 2009, and 2008 Consolidated Statements of Shareholders’ Equity for the Three Fiscal Years Ended in December 2010, 2009, and 2008 Consolidated Statements of Cash Flows for the Three Fiscal Years Ended in December 2010, 2009, and 2008 Notes to Consolidated Financial Statements (2) Financial Statement Schedules Included in PART IV of this report: Report of Independent Registered Public Accounting Firm on Financial Statement Schedule For the Three Fiscal Years Ended in December 2010, 2009, and 2008: Schedule II - Valuation and Qualifying Accounts Schedules other than those listed above are omitted for the reason that they are not required or are not applicable, or the required information is shown in the financial statements or notes thereto. |
Exhibits and Financial Statement Schedules (a) Financial Statements, Financial Statement Schedules and Exhibits (1) Financial Statements Included in PART II of this report: Report of Independent Registered Public Accounting Firm Consolidated Balance Sheets at December 27, 2009 and December 28, 2008 Consolidated Statements of Operations for the Three Fiscal Years Ended in December 2009, 2008, and 2007 Consolidated Statements of Shareholders’ Equity for the Three Fiscal Years Ended in December 2009, 2008, and 2007 Consolidated Statements of Cash Flows for the Three Fiscal Years Ended in December 2009, 2008, and 2007 Notes to Consolidated Financial Statements (2) Financial Statement Schedules Included in PART IV of this report: Report of Independent Registered Public Accounting Firm on Financial Statement Schedule For the Three Fiscal Years Ended in December 2009, 2008, and 2007: Schedule II - Valuation and Qualifying Accounts Schedules other than those listed above are omitted for the reason that they are not required or are not applicable, or the required information is shown in the financial statements or notes thereto. |
Exhibits and Financial Statement Schedules (a) Financial Statements, Financial Statement Schedules and Exhibits (1) Financial Statements Included in PART II of this report: Report of Independent Registered Public Accounting Firm Consolidated Balance Sheets at December 28, 2008 and December 30, 2007 Consolidated Statements of Operations for the Three Fiscal Years Ended in December 2008, 2007, and 2006 Consolidated Statements of Shareholders’ Equity for the Three Fiscal Years Ended in December 2008, 2007, and 2006 Consolidated Statements of Cash Flows for the Three Fiscal Years Ended in December 2008, 2007, and 2006 Notes to Consolidated Financial Statements (2) Financial Statement Schedules Included in PART IV of this report: Report of Independent Registered Public Accounting Firm on Financial Statement Schedule For the Three Fiscal Years Ended in December 2008, 2007, and 2006: Schedule II - Valuation and Qualifying Accounts Schedules other than those listed above are omitted for the reason that they are not required or are not applicable, or the required information is shown in the financial statements or notes thereto. |
Exhibits and Financial Statement Schedules (a) Financial Statements, Financial Statement Schedules and Exhibits (1) Financial Statements Included in PART II of this report: Report of Independent Registered Public Accounting Firm Consolidated Balance Sheets at December 30, 2007 and December 31, 2006 Consolidated Statements of Operations for the Three Fiscal Years Ended in December 2007, 2006, and 2005 Consolidated Statements of Shareholders’ Equity for the Three Fiscal Years Ended in December 2007, 2006, and 2005 Consolidated Statements of Cash Flows for the Three Fiscal Years Ended in December 2007, 2006, and 2005 Notes to Consolidated Financial Statements (2) Financial Statement Schedules Included in PART IV of this report: Report of Independent Registered Public Accounting Firm on Financial Statement Schedule For the Three Fiscal Years Ended in December 2007, 2006, and 2005: Schedule II - Valuation and Qualifying Accounts and Reserves Schedules other than those listed above are omitted for the reason that they are not required or are not applicable, or the required information is shown in the financial statements or notes thereto. |
Subsets and Splits